# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0001752724-25-162680
**Filing Date:** 2025-6
**Character Count:** 179335
**Document Hash:** d6962f81cef9441d0ab40ce94d21e40a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-162680.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001752724-25-162680

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Roads Shared Trust
- **CENTRAL INDEX KEY:** 0001552947

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22718
- **FILM NUMBER:** 251089366

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 402-895-1600

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### Anfield Universal Fixed Income ETF (Series ID: S000062994)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000204431 | Anfield Universal Fixed Income ETF |  |

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 19.6%** | **ASSET BACKED SECURITIES — 19.6%** |  |  |  |
|  | **CLO** — **19.6%** | **CLO** — **19.6%** |  |  |  |
| 1500000 | Allegro CLO XV Ltd. Series 1A D1AR<sup>(a),(b)</sup> | TSFR3M + 3.000% | 7.3110 | &nbsp;&nbsp;&nbsp;04/20/38 | $1473141 |
| 2000000 | Apidos CLO XV Series 2013-15A DRR<sup>(a),(b)</sup> | TSFR3M + 2.962% | 7.2310 | &nbsp;&nbsp;&nbsp;04/20/31 | 1988918 |
| 1000000 | Battalion Clo 17 Ltd. Series 17A CR<sup>(a),(b)</sup> | TSFR3M + 2.250% | 6.5190 | &nbsp;&nbsp;&nbsp;03/09/34 | 999981 |
| 2000000 | CARLYLE US CLO 2018-2 Ltd. Series 2018-2A C<sup>(a),(b)</sup> | TSFR3M + 3.162% | 7.4180 | &nbsp;&nbsp;&nbsp;10/15/31 | 1998414 |
| 1500000 | Dryden 109 CLO Ltd. Series 109A BR<sup>(a),(b)</sup> | TSFR3M + 1.570% | 5.8260 | &nbsp;&nbsp;&nbsp;04/15/38 | 1490141 |
| 1500000 | Dryden 37 Senior Loan Fund Series 2015-37A ER<sup>(a),(b)</sup> | TSFR3M + 5.412% | 9.6680 | &nbsp;&nbsp;&nbsp;01/15/31 | 1388492 |
| 1600000 | Dryden 55 CLO Ltd. Series 2018-55A D<sup>(a),(b)</sup> | TSFR3M + 3.112% | 7.3680 | &nbsp;&nbsp;&nbsp;04/15/31 | 1595029 |
| 1000000 | ICG US Clo 2021-3 Ltd. Series 3A CR<sup>(a),(b)</sup> | TSFR3M + 2.100% | 6.3690 | &nbsp;&nbsp;&nbsp;10/20/34 | 994026 |
| 1500000 | Madison Park Funding XLV Ltd. Series 45A CRR<sup>(a),(b)</sup> | TSFR3M + 1.900% | 6.1560 | &nbsp;&nbsp;&nbsp;07/15/34 | 1490986 |
| 2000000 | Mountain View CLO IX Ltd. Series 2015-9A CR<sup>(a),(b)</sup> | TSFR3M + 3.382% | 7.6380 | &nbsp;&nbsp;&nbsp;07/15/31 | 1998847 |
| 1000000 | OCP CLO Ltd. Series 23A CR<sup>(a),(b)</sup> | TSFR3M + 1.700% | 5.9820 | &nbsp;&nbsp;&nbsp;01/17/37 | 985928 |
| 1000000 | Octagon Investment Partners 32 Ltd. Series 1A A2R3<sup>(a),(b)</sup> | TSFR3M + 1.600% | 5.8560 | &nbsp;&nbsp;&nbsp;10/31/37 | 994468 |
| 1000000 | Octagon Investment Partners 46 Ltd. Series 2A DR<sup>(a),(b)</sup> | TSFR3M + 3.562% | 7.8180 | &nbsp;&nbsp;&nbsp;07/15/36 | 995463 |
| 2150000 | OZLM XXIV Ltd. Series 24A C2<sup>(a),(b)</sup> | TSFR3M + 4.522% | 8.7910 | &nbsp;&nbsp;&nbsp;07/20/32 | 2098344 |
| 1750000 | Shackleton 2014-V-R CLO Ltd. Series 2014-5RA D<sup>(a),(b)</sup> | TSFR3M + 3.412% | 7.7140 | &nbsp;&nbsp;&nbsp;05/07/31 | 1743214 |
| 1000000 | TCW CLO 2017-1A Ltd. Series 1A A2R3<sup>(a),(b)</sup> | TSFR3M + 1.450% | 5.7710 | &nbsp;&nbsp;&nbsp;10/29/34 | 993059 |
| 2000000 | Venture XV CLO Ltd. Series 2013-15A DR2<sup>(a),(b)</sup> | TSFR3M + 4.182% | 8.4380 | &nbsp;&nbsp;&nbsp;07/15/32 | 1977263 |
| 1000000 | Zais Matrix CDO I Series 2022-18A D1<sup>(a),(b)</sup> | TSFR3M + 4.670% | 8.9520 | &nbsp;&nbsp;&nbsp;01/25/35 | 991153 |
|  |  |  |  |  | 26196867 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.0%<sup>(c)</sup>** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.0%<sup>(c)</sup>** |  |  |  |
| 43797 | Alternative Loan Trust 2007-J1 Series 2007-J1 3A2<sup>(d)</sup> |  | 4.0950 | &nbsp;&nbsp;&nbsp;11/25/36 | 40665 |
| 1726471 | BCAP, LLC Trust 2007-AA2 Series 2007-AA2 21IO<sup>(e),(f)</sup> |  | 0.4230 | &nbsp;&nbsp;&nbsp;04/25/37 | 18482 |
|  |  |  |  |  | 59147 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $26,499,202)** | **TOTAL ASSET BACKED SECURITIES (Cost $26,499,202)** |  |  | 26256014 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4%** |  |  |  |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4%** |  |  |  |
| 57189 | Fannie Mae Interest Strip Series 291 2<sup>(e)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;11/25/27 | 2917 |
| 62415 | Fannie Mae Interest Strip Series 343 6<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/25/33 | 6644 |
| 75499 | Fannie Mae Interest Strip Series 346 2<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/25/33 | 12079 |
| 47948 | Fannie Mae Interest Strip Series 355 12<sup>(e),(f)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;07/25/34 | 5854 |
| 255777 | Fannie Mae Interest Strip Series 364 2<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;09/25/35 | 35490 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** |  |  |  |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** |  |  |  |
| 418702 | Fannie Mae Interest Strip Series 365 4<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;04/25/36 | $62328 |
| 113836 | Fannie Mae Interest Strip Series 384 28<sup>(e),(f)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/36 | 18985 |
| 66352 | Fannie Mae Interest Strip Series 370 2<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/36 | 12939 |
| 593743 | Fannie Mae Interest Strip Series 378 4<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;07/25/36 | 102997 |
| 441620 | Fannie Mae Interest Strip Series 371 2<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;07/25/36 | 84678 |
| 110572 | Fannie Mae Interest Strip Series 377 2<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/25/36 | 18664 |
| 1296663 | Fannie Mae Interest Strip Series 395 7<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/36 | 241096 |
| 69706 | Fannie Mae Interest Strip Series 383 20<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;07/25/37 | 10992 |
| 345084 | Fannie Mae Interest Strip Series 385 3<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;01/25/38 | 54154 |
| 385421 | Fannie Mae Interest Strip Series 407 40<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/38 | 76186 |
| 692898 | Fannie Mae Interest Strip Series 398 C9<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/39 | 193565 |
| 200666 | Fannie Mae Interest Strip Series 396 2<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;06/25/39 | 28338 |
| 288843 | Fannie Mae Interest Strip Series 399 2<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/39 | 59237 |
| 817075 | Fannie Mae Interest Strip Series 408 C4<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/40 | 146722 |
| 309501 | Fannie Mae Interest Strip Series 409 C18<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;04/25/42 | 58304 |
| 42834 | Fannie Mae REMICS Series 2001-32 SA<sup>(b),(e)</sup> | SOFR30A + 7.836% | 3.4820 | &nbsp;&nbsp;&nbsp;07/25/31 | 2441 |
| 325208 | Fannie Mae REMICS Series 2003-7 SN<sup>(b),(e)</sup> | SOFR30A + 7.636% | 3.2820 | &nbsp;&nbsp;&nbsp;02/25/33 | 42635 |
| 87243 | Fannie Mae REMICS Series 2003-43 IY<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/33 | 11574 |
| 158069 | Fannie Mae REMICS Series 2004-62 TP<sup>(b),(e)</sup> | SOFR30A + 37.870% | 5.5000 | &nbsp;&nbsp;&nbsp;07/25/33 | 18274 |
| 201383 | Fannie Mae REMICS Series 2004-70 XJ<sup>(b),(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/25/34 | 28166 |
| 147376 | Fannie Mae REMICS Series 2004-91 DS<sup>(b),(e)</sup> | SOFR30A + 6.536% | 2.1820 | &nbsp;&nbsp;&nbsp;12/25/34 | 14705 |
| 49619 | Fannie Mae REMICS Series 2005-87 SE<sup>(b),(e)</sup> | SOFR30A + 5.936% | 1.5820 | &nbsp;&nbsp;&nbsp;10/25/35 | 4329 |
| 85907 | Fannie Mae REMICS Series 2005-89 S<sup>(b),(e)</sup> | SOFR30A + 6.586% | 2.2320 | &nbsp;&nbsp;&nbsp;10/25/35 | 7415 |
| 128528 | Fannie Mae REMICS Series 2007-28 LS<sup>(b),(e)</sup> | SOFR30A + 6.511% | 2.1570 | &nbsp;&nbsp;&nbsp;01/25/36 | 14284 |
| 16662 | Fannie Mae REMICS Series 2006-8 WN<sup>(b),(e)</sup> | SOFR30A + 6.586% | 2.2320 | &nbsp;&nbsp;&nbsp;03/25/36 | 1634 |
| 34981 | Fannie Mae REMICS Series 2006-8 HL<sup>(b),(e)</sup> | SOFR30A + 6.586% | 2.2320 | &nbsp;&nbsp;&nbsp;03/25/36 | 3759 |
| 1089713 | Fannie Mae REMICS Series 2007-18 BF<sup>(b),(e)</sup> | SOFR30A + 0.494% | 4.8480 | &nbsp;&nbsp;&nbsp;04/25/36 | 103604 |
| 1109990 | Fannie Mae REMICS Series 2007-28 CF<sup>(b),(e)</sup> | SOFR30A + 0.504% | 4.8580 | &nbsp;&nbsp;&nbsp;07/25/36 | 125517 |
| 96953 | Fannie Mae REMICS Series 2006-101 SA<sup>(b),(e)</sup> | SOFR30A + 6.466% | 2.1120 | &nbsp;&nbsp;&nbsp;10/25/36 | 11443 |
| 95464 | Fannie Mae REMICS Series 2006-116 S<sup>(b),(e)</sup> | SOFR30A + 6.486% | 2.1320 | &nbsp;&nbsp;&nbsp;12/25/36 | 9329 |
| 41194 | Fannie Mae REMICS Series 2006-125 SM<sup>(b),(e)</sup> | SOFR30A + 7.086% | 2.7320 | &nbsp;&nbsp;&nbsp;01/25/37 | 4627 |
| 165649 | Fannie Mae REMICS Series 2007-36 SN<sup>(b),(e)</sup> | SOFR30A + 6.656% | 2.3020 | &nbsp;&nbsp;&nbsp;04/25/37 | 20051 |
| 597000 | Fannie Mae REMICS Series 2007-55 S<sup>(b),(e)</sup> | SOFR30A + 6.646% | 2.2920 | &nbsp;&nbsp;&nbsp;06/25/37 | 24999 |
| 72741 | Fannie Mae REMICS Series 2007-72 EK<sup>(b),(e)</sup> | SOFR30A + 6.286% | 1.9320 | &nbsp;&nbsp;&nbsp;07/25/37 | 7834 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** |  |  |  |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** |  |  |  |
| 74681 | Fannie Mae REMICS Series 2007-66 AS<sup>(b),(e)</sup> | SOFR30A + 6.486% | 2.1320 | &nbsp;&nbsp;&nbsp;07/25/37 | $6997 |
| 511397 | Fannie Mae REMICS Series 2007-88 MI<sup>(b),(e)</sup> | SOFR30A + 6.406% | 2.0520 | &nbsp;&nbsp;&nbsp;09/25/37 | 46424 |
| 73308 | Fannie Mae REMICS Series 2007-106 SN<sup>(b),(e)</sup> | SOFR30A + 6.296% | 1.9420 | &nbsp;&nbsp;&nbsp;11/25/37 | 7386 |
| 157262 | Fannie Mae REMICS Series 2007-109 DI<sup>(b),(e)</sup> | SOFR30A + 6.286% | 1.9320 | &nbsp;&nbsp;&nbsp;12/25/37 | 18887 |
| 219240 | Fannie Mae REMICS Series 2007-117 SM<sup>(b),(e)</sup> | SOFR30A + 6.186% | 1.8320 | &nbsp;&nbsp;&nbsp;01/25/38 | 22531 |
| 4080092 | Fannie Mae REMICS Series 2010-89 AI<sup>(b),(e)</sup> | SOFR30A + 6.336% | 0.1500 | &nbsp;&nbsp;&nbsp;02/25/38 | 13445 |
| 3731 | Fannie Mae REMICS Series 2008-24 SP<sup>(b)</sup> | SOFR30A + 22.864% | 6.9000 | &nbsp;&nbsp;&nbsp;02/25/38 | 3766 |
| 1418766 | Fannie Mae REMICS Series 2008-58 SE<sup>(b),(e)</sup> | SOFR30A + 5.886% | 1.5320 | &nbsp;&nbsp;&nbsp;07/25/38 | 144160 |
| 238418 | Fannie Mae REMICS Series 2009-66 SH<sup>(b),(e)</sup> | SOFR30A + 5.936% | 1.5820 | &nbsp;&nbsp;&nbsp;09/25/39 | 15085 |
| 77126 | Fannie Mae REMICS Series 2009-112 ST<sup>(b),(e)</sup> | SOFR30A + 6.136% | 1.7820 | &nbsp;&nbsp;&nbsp;01/25/40 | 8048 |
| 66785 | Fannie Mae REMICS Series 2010-126 UI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;10/25/40 | 6680 |
| 218457 | Fannie Mae REMICS Series 2010-130 HI<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;11/25/40 | 41690 |
| 300482 | Fannie Mae REMICS Series 2010-139 SA<sup>(b),(e)</sup> | SOFR30A + 5.916% | 1.5620 | &nbsp;&nbsp;&nbsp;12/25/40 | 33566 |
| 57682 | Fannie Mae REMICS Series 2011-11 PI<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/25/41 | 6651 |
| 198019 | Fannie Mae REMICS Series 2017-87 KI<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;06/25/41 | 26352 |
| 296554 | Fannie Mae REMICS Series 2011-96 SA<sup>(b),(e)</sup> | SOFR30A + 6.436% | 2.0820 | &nbsp;&nbsp;&nbsp;10/25/41 | 24962 |
| 1737147 | Fannie Mae REMICS Series 2012-30 CI<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/25/41 | 179254 |
| 1255121 | Fannie Mae REMICS Series 2011-122 DS<sup>(b),(e)</sup> | SOFR30A + 6.406% | 2.0520 | &nbsp;&nbsp;&nbsp;12/25/41 | 187234 |
| 416020 | Fannie Mae REMICS Series 2012-68 NS<sup>(b),(e)</sup> | SOFR30A + 6.586% | 2.2320 | &nbsp;&nbsp;&nbsp;03/25/42 | 21590 |
| 669269 | Fannie Mae REMICS Series 2012-89 SA<sup>(b),(e)</sup> | SOFR30A + 5.436% | 1.0820 | &nbsp;&nbsp;&nbsp;08/25/42 | 56999 |
| 1152408 | Fannie Mae REMICS Series 2012-103 TI<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;09/25/42 | 192054 |
| 74448 | Fannie Mae REMICS Series 2014-68 IB<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;02/25/43 | 8115 |
| 244882 | Fannie Mae REMICS Series 2013-103 JS<sup>(b),(e)</sup> | SOFR30A + 5.886% | 1.5320 | &nbsp;&nbsp;&nbsp;10/25/43 | 25049 |
| 274742 | Fannie Mae REMICS Series 2014-38 QI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/25/43 | 41912 |
| 892781 | Fannie Mae REMICS Series 2014-87 MS<sup>(b),(e)</sup> | SOFR30A + 6.136% | 1.7820 | &nbsp;&nbsp;&nbsp;01/25/45 | 96816 |
| 180263 | Fannie Mae REMICS Series 2015-33 OI<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;06/25/45 | 20681 |
| 365275 | Fannie Mae REMICS Series 2016-39 LS<sup>(b),(e)</sup> | SOFR30A + 5.886% | 1.5320 | &nbsp;&nbsp;&nbsp;07/25/46 | 44218 |
| 1243165 | Fannie Mae REMICS Series 2017-97 SW<sup>(b),(e)</sup> | SOFR30A + 6.086% | 1.7320 | &nbsp;&nbsp;&nbsp;12/25/47 | 157647 |
| 856844 | Fannie Mae REMICS Series 2017-108 SA<sup>(b),(e)</sup> | SOFR30A + 6.036% | 1.6820 | &nbsp;&nbsp;&nbsp;01/25/48 | 106050 |
| 2432881 | Fannie Mae REMICS Series 2018-54 SA<sup>(b),(e)</sup> | SOFR30A + 6.136% | 1.7820 | &nbsp;&nbsp;&nbsp;08/25/48 | 248794 |
| 382678 | Fannie Mae REMICS Series 2018-58 IO<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;08/25/48 | 57239 |
| 102489 | Fannie Mae REMICS Series 2018-74 MI<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/25/48 | 20102 |
| 363000 | Fannie Mae REMICS Series 2019-41 SB<sup>(b),(e)</sup> | SOFR30A + 5.936% | 1.5820 | &nbsp;&nbsp;&nbsp;08/25/49 | 45454 |
| 983622 | Fannie Mae REMICS Series 2020-10 S<sup>(b),(e)</sup> | SOFR30A + 5.936% | 1.5820 | &nbsp;&nbsp;&nbsp;05/25/59 | 115772 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** |  |  |  |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** |  |  |  |
| 64369 | Freddie Mac REMICS Series 2367 SG<sup>(b),(e)</sup> | SOFR30A + 7.766% | 3.4210 | &nbsp;&nbsp;&nbsp;06/15/31 | $6314 |
| 686509 | Freddie Mac REMICS Series 5112 IB<sup>(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/32 | 77821 |
| 55564 | Freddie Mac REMICS Series 2444 TI<sup>(b),(e)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;05/15/32 | 6517 |
| 154793 | Freddie Mac REMICS Series 2463 SB<sup>(b),(e)</sup> | SOFR30A + 7.886% | 3.5410 | &nbsp;&nbsp;&nbsp;06/15/32 | 14925 |
| 20822 | Freddie Mac REMICS Series 2524 SX<sup>(b),(e)</sup> | SOFR30A + 7.786% | 3.4410 | &nbsp;&nbsp;&nbsp;11/15/32 | 2122 |
| 35519 | Freddie Mac REMICS Series 2616 SC<sup>(b),(e)</sup> | SOFR30A + 7.886% | 3.5410 | &nbsp;&nbsp;&nbsp;12/15/32 | 3095 |
| 444305 | Freddie Mac REMICS Series 2802 SI<sup>(b),(e)</sup> | SOFR30A + 5.886% | 1.5410 | &nbsp;&nbsp;&nbsp;05/15/34 | 34260 |
| 208801 | Freddie Mac REMICS Series 2980 SL<sup>(b),(e)</sup> | SOFR30A + 6.586% | 2.2410 | &nbsp;&nbsp;&nbsp;11/15/34 | 20764 |
| 216546 | Freddie Mac REMICS Series 2950 SN<sup>(b),(e)</sup> | SOFR30A + 5.936% | 1.5910 | &nbsp;&nbsp;&nbsp;03/15/35 | 11894 |
| 613127 | Freddie Mac REMICS Series 3055 MS<sup>(b),(e)</sup> | SOFR30A + 6.486% | 2.1410 | &nbsp;&nbsp;&nbsp;10/15/35 | 68101 |
| 42816 | Freddie Mac REMICS Series 3117 JS<sup>(b),(e)</sup> | SOFR30A + 6.586% | 2.2410 | &nbsp;&nbsp;&nbsp;02/15/36 | 4412 |
| 162857 | Freddie Mac REMICS Series 3149 SM<sup>(b),(e)</sup> | SOFR30A + 6.536% | 2.1910 | &nbsp;&nbsp;&nbsp;05/15/36 | 15411 |
| 78882 | Freddie Mac REMICS Series 3239 SI<sup>(b),(e)</sup> | SOFR30A + 6.536% | 2.1910 | &nbsp;&nbsp;&nbsp;11/15/36 | 8856 |
| 174228 | Freddie Mac REMICS Series 3303 SG<sup>(b),(e)</sup> | SOFR30A + 5.986% | 1.6410 | &nbsp;&nbsp;&nbsp;04/15/37 | 16860 |
| 168864 | Freddie Mac REMICS Series 3355 BI<sup>(b),(e)</sup> | SOFR30A + 5.936% | 1.5910 | &nbsp;&nbsp;&nbsp;08/15/37 | 15873 |
| 162289 | Freddie Mac REMICS Series 3368 AI<sup>(b),(e)</sup> | SOFR30A + 5.916% | 1.5710 | &nbsp;&nbsp;&nbsp;09/15/37 | 16744 |
| 92714 | Freddie Mac REMICS Series 4340 TI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;07/15/39 | 3574 |
| 123320 | Freddie Mac REMICS Series 3572 VS<sup>(b),(e)</sup> | SOFR30A + 6.616% | 2.2710 | &nbsp;&nbsp;&nbsp;09/15/39 | 14650 |
| 125647 | Freddie Mac REMICS Series 4451 DI<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/15/39 | 3631 |
| 1733868 | Freddie Mac REMICS Series 3652 CS<sup>(b),(e)</sup> | SOFR30A + 6.436% | 2.0910 | &nbsp;&nbsp;&nbsp;03/15/40 | 223533 |
| 128368 | Freddie Mac REMICS Series 3758 S<sup>(b),(e)</sup> | SOFR30A + 5.916% | 1.5710 | &nbsp;&nbsp;&nbsp;11/15/40 | 11928 |
| 331868 | Freddie Mac REMICS Series 3935 SH<sup>(b),(e)</sup> | SOFR30A + 6.486% | 2.1410 | &nbsp;&nbsp;&nbsp;12/15/40 | 5938 |
| 102250 | Freddie Mac REMICS Series 4139 PO<sup>(g)</sup> |  |  | &nbsp;&nbsp;&nbsp;08/15/42 | 68048 |
| 121131 | Freddie Mac REMICS Series 4091 TS<sup>(b),(e)</sup> | SOFR30A + 6.436% | 2.0910 | &nbsp;&nbsp;&nbsp;08/15/42 | 17360 |
| 336476 | Freddie Mac REMICS Series 4471 JI<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;09/15/43 | 57399 |
| 970764 | Freddie Mac REMICS Series 4995 KI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/25/43 | 151578 |
| 156212 | Freddie Mac REMICS Series 4456 IA<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/15/45 | 25958 |
| 6684507 | Freddie Mac REMICS Series 4583 TI<sup>(b),(e)</sup> | SOFR30A + 5.986% | 0.1000 | &nbsp;&nbsp;&nbsp;05/15/46 | 17887 |
| 202728 | Freddie Mac REMICS Series 4583 ST<sup>(b),(e)</sup> | SOFR30A + 5.886% | 1.5410 | &nbsp;&nbsp;&nbsp;05/15/46 | 24155 |
| 340100 | Freddie Mac REMICS Series 4618 SA<sup>(b),(e)</sup> | SOFR30A + 5.886% | 1.5410 | &nbsp;&nbsp;&nbsp;09/15/46 | 42157 |
| 651676 | Freddie Mac REMICS Series 5007 SK<sup>(b),(e)</sup> | SOFR30A + 5.986% | 1.6320 | &nbsp;&nbsp;&nbsp;08/25/50 | 89257 |
| 494824 | Freddie Mac REMICS Series 5136 IJ<sup>(e)</sup> |  | 2.5000 | &nbsp;&nbsp;&nbsp;02/25/51 | 59715 |
| 810721 | Freddie Mac REMICS Series 5086 HI<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;03/25/51 | 180035 |
| 901835 | Freddie Mac REMICS Series 5174 NI<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/25/51 | 159730 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** |  |  |  |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** |  |  |  |
| 203131 | Freddie Mac REMICS Series 4291 MS<sup>(b),(e)</sup> | SOFR30A + 5.786% | 1.4410 | &nbsp;&nbsp;&nbsp;01/15/54 | $23208 |
| 77805 | Freddie Mac Strips Series 221 IO<sup>(e)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;03/15/32 | 11975 |
| 2741647 | Freddie Mac Strips Series 324 C17<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;12/15/33 | 244926 |
| 210096 | Freddie Mac Strips Series 238 8<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;04/15/36 | 34350 |
| 235987 | Freddie Mac Strips Series 240 IO<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;07/15/36 | 42553 |
| 41061 | Freddie Mac Strips Series 239 IO<sup>(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/15/36 | 7639 |
| 343479 | Freddie Mac Strips Series 247 24<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;09/15/36 | 51225 |
| 584111 | Freddie Mac Strips Series 244 IO<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/15/36 | 85565 |
| 283499 | Freddie Mac Strips Series 303 105<sup>(e),(f)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;01/15/43 | 39033 |
| 1020336 | Freddie Mac Strips Series 324 C24<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/15/43 | 212217 |
| 581927 | Freddie Mac Strips Series 365 121<sup>(e),(f)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;10/15/47 | 83225 |
| 543669 | Freddie Mac Strips Series 365 C10<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;06/15/49 | 111357 |
| 892571 | Freddie Mac Strips Series 367 116<sup>(e),(f)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;06/15/50 | 133658 |
| 464049 | Government National Mortgage Association Series 2021-78 QI<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;05/20/34 | 42807 |
| 303143 | Government National Mortgage Association Series 2004-46 S<sup>(b),(e)</sup> | TSFR1M + 6.986% | 2.6670 | &nbsp;&nbsp;&nbsp;06/20/34 | 15917 |
| 22366 | Government National Mortgage Association Series 2004-106 HW<sup>(b)</sup> | TSFR1M + 26.928% | 5.3230 | &nbsp;&nbsp;&nbsp;12/16/34 | 24849 |
| 102968 | Government National Mortgage Association Series 2007-40 SW<sup>(b),(e)</sup> | TSFR1M + 4.066% |  | &nbsp;&nbsp;&nbsp;07/20/37 | 876 |
| 118306 | Government National Mortgage Association Series 2008-2 SM<sup>(b),(e)</sup> | TSFR1M + 6.386% | 2.0650 | &nbsp;&nbsp;&nbsp;01/16/38 | 11301 |
| 69122 | Government National Mortgage Association Series 2008-6 SD<sup>(b),(e)</sup> | TSFR1M + 6.346% | 2.0270 | &nbsp;&nbsp;&nbsp;02/20/38 | 320 |
| 883664 | Government National Mortgage Association Series 2008-15 CI<sup>(b),(e)</sup> | TSFR1M + 6.376% | 2.0570 | &nbsp;&nbsp;&nbsp;02/20/38 | 26730 |
| 107428 | Government National Mortgage Association Series 2008-27 SI<sup>(b),(e)</sup> | TSFR1M + 6.356% | 2.0370 | &nbsp;&nbsp;&nbsp;03/20/38 | 3059 |
| 88172 | Government National Mortgage Association Series 2008-36 SB<sup>(b),(e)</sup> | TSFR1M + 6.156% | 1.8370 | &nbsp;&nbsp;&nbsp;04/20/38 | 371 |
| 135973 | Government National Mortgage Association Series 2008-51 SE<sup>(b),(e)</sup> | TSFR1M + 6.136% | 1.8150 | &nbsp;&nbsp;&nbsp;06/16/38 | 10420 |
| 110052 | Government National Mortgage Association Series 2008-51 SC<sup>(b),(e)</sup> | TSFR1M + 6.136% | 1.8170 | &nbsp;&nbsp;&nbsp;06/20/38 | 7850 |
| 53051 | Government National Mortgage Association Series 2008-95 DS<sup>(b),(e)</sup> | TSFR1M + 7.186% | 2.8670 | &nbsp;&nbsp;&nbsp;12/20/38 | 1011 |
| 91528 | Government National Mortgage Association Series 2009-43 SA<sup>(b),(e)</sup> | TSFR1M + 5.836% | 1.5170 | &nbsp;&nbsp;&nbsp;06/20/39 | 4208 |
| 3269 | Government National Mortgage Association Series 2010-19 SD<sup>(b),(e)</sup> | TSFR1M + 6.436% | 2.1150 | &nbsp;&nbsp;&nbsp;07/16/39 | 3 |
| 326046 | Government National Mortgage Association Series 2013-170 ID<sup>(e),(f)</sup> |  | 3.1540 | &nbsp;&nbsp;&nbsp;02/20/40 | 26014 |
| 62764 | Government National Mortgage Association Series 2010-113 BS<sup>(b),(e)</sup> | TSFR1M + 5.886% | 1.5670 | &nbsp;&nbsp;&nbsp;09/20/40 | 7778 |
| 971377 | Government National Mortgage Association Series 2010-133 SB<sup>(b),(e)</sup> | TSFR1M + 5.906% | 1.5850 | &nbsp;&nbsp;&nbsp;10/16/40 | 121426 |
| 109269 | Government National Mortgage Association Series 2010-152 SA<sup>(b),(e)</sup> | TSFR1M + 5.936% | 1.6150 | &nbsp;&nbsp;&nbsp;11/16/40 | 12843 |
| 225206 | Government National Mortgage Association Series 2012-77 DI<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;01/20/41 | 9912 |
| 115056 | Government National Mortgage Association Series 2012-69 QI<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/16/41 | 12243 |
| 281832 | Government National Mortgage Association Series 2011-148 SN<sup>(b),(e)</sup> | TSFR1M + 6.576% | 2.2550 | &nbsp;&nbsp;&nbsp;11/16/41 | 38591 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 6.4% (Continued)** |  |  |  |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **6.4% (Continued)** |  |  |  |
| 913063 | Government National Mortgage Association Series 2013-4 ID<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/16/42 | $166945 |
| 777774 | Government National Mortgage Association Series 2012-126 IO<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/20/42 | 99065 |
| 106362 | Government National Mortgage Association Series 2013-5 BI<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/20/43 | 17267 |
| 159033 | Government National Mortgage Association Series 2013-53 OI<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/43 | 18736 |
| 775740 | Government National Mortgage Association Series 2015-179 BI<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;08/20/43 | 49202 |
| 77718 | Government National Mortgage Association Series 2013-181 SA<sup>(b),(e)</sup> | TSFR1M + 5.986% | 1.6670 | &nbsp;&nbsp;&nbsp;11/20/43 | 7258 |
| 165947 | Government National Mortgage Association Series 2014-58 SA<sup>(b),(e)</sup> | TSFR1M + 5.986% | 1.6670 | &nbsp;&nbsp;&nbsp;04/20/44 | 19598 |
| 290567 | Government National Mortgage Association Series 2014-91 SB<sup>(b),(e)</sup> | TSFR1M + 5.486% | 1.1650 | &nbsp;&nbsp;&nbsp;06/16/44 | 20725 |
| 58598 | Government National Mortgage Association Series 2016-81 IM<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;10/20/44 | 3344 |
| 1244175 | Government National Mortgage Association Series 2014-146 EI<sup>(e)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;10/20/44 | 261939 |
| 997038 | Government National Mortgage Association Series 2017-56 IE<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;11/20/44 | 81311 |
| 476329 | Government National Mortgage Association Series 2019-22 SA<sup>(b),(e)</sup> | TSFR1M + 5.486% | 1.1670 | &nbsp;&nbsp;&nbsp;02/20/45 | 48382 |
| 256069 | Government National Mortgage Association Series 2015-36 MI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;03/20/45 | 40676 |
| 411094 | Government National Mortgage Association Series 2015-64 SG<sup>(b),(e)</sup> | TSFR1M + 5.486% | 1.1670 | &nbsp;&nbsp;&nbsp;05/20/45 | 41687 |
| 66790 | Government National Mortgage Association Series 2016-27 IA<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;06/20/45 | 8649 |
| 202147 | Government National Mortgage Association Series 2017-99 DI<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;07/20/45 | 9214 |
| 476752 | Government National Mortgage Association Series 2015-144 SA<sup>(b),(e)</sup> | TSFR1M + 6.086% | 1.7670 | &nbsp;&nbsp;&nbsp;10/20/45 | 61892 |
| 277294 | Government National Mortgage Association Series 2016-84 IG<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;11/16/45 | 63962 |
| 406479 | Government National Mortgage Association Series 2016-4 SM<sup>(b),(e)</sup> | TSFR1M + 5.536% | 1.2170 | &nbsp;&nbsp;&nbsp;01/20/46 | 35134 |
| 171765 | Government National Mortgage Association Series 2016-9 SA<sup>(b),(e)</sup> | TSFR1M + 5.986% | 1.6670 | &nbsp;&nbsp;&nbsp;01/20/46 | 19971 |
| 849524 | Government National Mortgage Association Series 2016-121 JS<sup>(b),(e)</sup> | TSFR1M + 5.986% | 1.6670 | &nbsp;&nbsp;&nbsp;09/20/46 | 113893 |
| 171347 | Government National Mortgage Association Series 2016-145 UI<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;10/20/46 | 30085 |
| 156842 | Government National Mortgage Association Series 2017-68 CI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/16/47 | 29459 |
| 278885 | Government National Mortgage Association Series 2018-8 IO<sup>(e)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;01/20/48 | 55300 |
| 17144577 | Government National Mortgage Association Series 2020-86 TK<sup>(b),(e)</sup> | TSFR1M + 6.086% | 0.1500 | &nbsp;&nbsp;&nbsp;08/20/48 | 87252 |
| 160030 | Government National Mortgage Association Series 2018-120 JI<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/20/48 | 23157 |
| 242581 | Government National Mortgage Association Series 2018-154 IT<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;10/20/48 | 44562 |
| 433916 | Government National Mortgage Association Series 2019-6 SA<sup>(b),(e)</sup> | TSFR1M + 5.936% | 1.6170 | &nbsp;&nbsp;&nbsp;01/20/49 | 51020 |
| 1269696 | Government National Mortgage Association Series 2020-47 MI<sup>(e)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;04/20/50 | 244360 |
| 600092 | Government National Mortgage Association Series 2020-167 NS<sup>(b),(e)</sup> | TSFR1M + 6.186% | 1.8670 | &nbsp;&nbsp;&nbsp;11/20/50 | 87103 |
| 1927231 | Government National Mortgage Association Series H16 CI<sup>(e),(f)</sup> |  | 2.3170 | &nbsp;&nbsp;&nbsp;10/20/69 | 79317 |
|  |  |  |  |  | 8600826 |
|  | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $12,634,345)** | **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $12,634,345)** |  |  | 8600826 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 58.9%** | **CORPORATE BONDS — 58.9%** |  |  |  |
|  | **ASSET MANAGEMENT** — **6.1%** | **ASSET MANAGEMENT** — **6.1%** |  |  |  |
| 250000 | Ares Capital Corporation |  | 3.2500 | &nbsp;&nbsp;&nbsp;07/15/25 | $249207 |
| 2098000 | Bain Capital Specialty Finance, Inc. |  | 2.9500 | &nbsp;&nbsp;&nbsp;03/10/26 | 2058677 |
| 600000 | Blackstone Secured Lending Fund |  | 3.6250 | &nbsp;&nbsp;&nbsp;01/15/26 | 593652 |
| 1550000 | Charles Schwab Corporation (The)<sup>(f)</sup> | H15T5Y + 3.168% | 4.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 1505082 |
| 200000 | FS KKR Capital Corporation |  | 3.4000 | &nbsp;&nbsp;&nbsp;01/15/26 | 197332 |
| 275000 | FS KKR Capital Corporation |  | 2.6250 | &nbsp;&nbsp;&nbsp;01/15/27 | 260398 |
| 625000 | FS KKR Capital Corporation |  | 3.2500 | &nbsp;&nbsp;&nbsp;07/15/27 | 593346 |
| 243000 | FS KKR Capital Corporation |  | 3.1250 | &nbsp;&nbsp;&nbsp;10/12/28 | 219251 |
| 1050000 | Icahn Enterprises, L.P. / Icahn Enterprises |  | 6.2500 | &nbsp;&nbsp;&nbsp;05/15/26 | 1047211 |
| 750000 | UBS Group A.G.<sup>(a),(f)</sup> | H15T1Y + 1.550% | 4.4880 | &nbsp;&nbsp;&nbsp;05/12/26 | 749861 |
| 431000 | UBS Group A.G.<sup>(a),(f)</sup> | SOFRRATE + 2.044% | 2.1930 | &nbsp;&nbsp;&nbsp;06/05/26 | 429905 |
| 250000 | UBS Group A.G.<sup>(a),(f)</sup> | SOFRRATE + 3.340% | 6.3730 | &nbsp;&nbsp;&nbsp;07/15/26 | 250705 |
|  |  |  |  |  | 8154627 |
|  | **AUTOMOTIVE** — **11.1%** | **AUTOMOTIVE** — **11.1%** |  |  |  |
| 985000 | Ford Motor Credit Company, LLC |  | 4.6870 | &nbsp;&nbsp;&nbsp;06/09/25 | 983700 |
| 1000000 | Ford Motor Credit Company, LLC |  | 5.1250 | &nbsp;&nbsp;&nbsp;06/16/25 | 999270 |
| 600000 | Ford Motor Credit Company, LLC |  | 4.1340 | &nbsp;&nbsp;&nbsp;08/04/25 | 597322 |
| 1083000 | Ford Motor Credit Company, LLC |  | 3.3750 | &nbsp;&nbsp;&nbsp;11/13/25 | 1070477 |
| 500000 | Ford Motor Credit Company, LLC |  | 4.5420 | &nbsp;&nbsp;&nbsp;08/01/26 | 491928 |
| 375000 | Ford Motor Credit Company, LLC |  | 2.7000 | &nbsp;&nbsp;&nbsp;08/10/26 | 360462 |
| 812000 | Ford Motor Credit Company, LLC |  | 4.1250 | &nbsp;&nbsp;&nbsp;08/17/27 | 778934 |
| 500000 | Ford Motor Credit Company, LLC |  | 4.8500 | &nbsp;&nbsp;&nbsp;11/20/29 | 479424 |
| 500000 | Ford Motor Credit Company, LLC |  | 6.2000 | &nbsp;&nbsp;&nbsp;06/20/34 | 467318 |
| 1095000 | General Motors Financial Company, Inc.<sup>(f)</sup> | H15T1Y + 4.997% | 5.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 1034350 |
| 310000 | Harley-Davidson Financial Services, Inc.<sup>(a)</sup> |  | 3.3500 | &nbsp;&nbsp;&nbsp;06/08/25 | 309207 |
| 723000 | Nissan Motor Acceptance Company, LLC |  | 2.0000 | &nbsp;&nbsp;&nbsp;03/09/26 | 699523 |
| 2262000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 1.8500 | &nbsp;&nbsp;&nbsp;09/16/26 | 2141476 |
| 837000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 5.3000 | &nbsp;&nbsp;&nbsp;09/13/27 | 820671 |
| 1050000 | Nissan Motor Acceptance Company, LLC<sup>(a)</sup> |  | 2.7500 | &nbsp;&nbsp;&nbsp;03/09/28 | 959070 |
| 1300000 | Nissan Motor Acceptance Corporation<sup>(a)</sup> |  | 2.0000 | &nbsp;&nbsp;&nbsp;03/09/26 | 1257787 |
| 500000 | Volkswagen Group of America Finance, LLC<sup>(a)</sup> |  | 5.4000 | &nbsp;&nbsp;&nbsp;03/20/26 | 502251 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 58.9% (Continued)** | **CORPORATE BONDS — 58.9% (Continued)** |  |  |  |
|  | **AUTOMOTIVE** — **11.1% (Continued)** | **AUTOMOTIVE** — **11.1% (Continued)** |  |  |  |
| 500000 | Volkswagen Group of America Finance, LLC<sup>(a)</sup> |  | 5.6500 | &nbsp;&nbsp;&nbsp;09/12/28 | $509202 |
| 500000 | Volkswagen Group of America Finance, LLC<sup>(a)</sup> |  | 4.7500 | &nbsp;&nbsp;&nbsp;11/13/28 | 494812 |
|  |  |  |  |  | 14957184 |
|  | **BANKING** — **12.6%** | **BANKING** — **12.6%** |  |  |  |
| 550000 | ABN AMRO Bank N.V.<sup>(a)</sup> |  | 4.7500 | &nbsp;&nbsp;&nbsp;07/28/25 | 549512 |
| 200000 | Barclays plc<sup>(f)</sup> | SOFRRATE + 2.714% | 2.8520 | &nbsp;&nbsp;&nbsp;05/07/26 | 199904 |
| 250000 | Barclays plc<sup>(f)</sup> | H15T1Y + 2.300% | 5.3040 | &nbsp;&nbsp;&nbsp;08/09/26 | 250132 |
| 500000 | Barclays plc |  | 4.8360 | &nbsp;&nbsp;&nbsp;05/09/28 | 498782 |
| 1002000 | BNP Paribas S.A.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;&nbsp;09/28/25 | 998810 |
| 250000 | BNP Paribas S.A.<sup>(a),(f)</sup> | SOFRRATE + 2.074% | 2.2190 | &nbsp;&nbsp;&nbsp;06/09/26 | 249274 |
| 1300000 | BNP Paribas S.A.<sup>(a),(f)</sup> | H15T5Y + 3.196% | 4.6250 | &nbsp;&nbsp;&nbsp;Perpetual | 1231676 |
| 1500000 | Citigroup, Inc.<sup>(f)</sup> | H15T5Y + 3.417% | 3.8750 | &nbsp;&nbsp;&nbsp;Perpetual | 1462587 |
| 761000 | Citizens Financial Group, Inc.<sup>(f)</sup> | H15T5Y + 3.215% | 4.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 716290 |
| 500000 | Credit Agricole S.A.<sup>(a),(f)</sup> | SOFRRATE + 1.676% | 1.9070 | &nbsp;&nbsp;&nbsp;06/16/26 | 498146 |
| 1000000 | Credit Agricole S.A.<sup>(f)</sup> | H15T5Y + 3.237% | 4.7500 | &nbsp;&nbsp;&nbsp;Perpetual | 906787 |
| 1000000 | Deutsche Bank A.G.<sup>(f)</sup> | H15T5Y + 4.524% | 6.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 981660 |
| 1000000 | First Citizens BancShares, Inc.<sup>(a),(f)</sup> | TSFR3M + 4.234% | 8.5330 | &nbsp;&nbsp;&nbsp;Perpetual | 1017560 |
| 1000000 | KeyBank NA |  | 6.9500 | &nbsp;&nbsp;&nbsp;02/01/28 | 1055238 |
| 440000 | KeyCorporation<sup>(f)</sup> | US0003M + 3.606% | 5.0000 | &nbsp;&nbsp;&nbsp;Perpetual | 426305 |
| 200000 | Lloyds Banking Group plc |  | 4.5820 | &nbsp;&nbsp;&nbsp;12/10/25 | 199497 |
| 1103000 | M&T Bank Corporation<sup>(f)</sup> | H15T5Y + 2.679% | 3.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 1012044 |
| 500000 | Manufacturers & Traders Trust Company |  | 4.6500 | &nbsp;&nbsp;&nbsp;01/27/26 | 499724 |
| 625000 | PNC Financial Services Group, Inc. (The)<sup>(f)</sup> | H15T5Y + 2.595% | 3.4000 | &nbsp;&nbsp;&nbsp;Perpetual | 589644 |
| 352000 | Royal Bank of Canada<sup>(f)</sup> | SOFRRATE + 7.450% | 8.5000 | &nbsp;&nbsp;&nbsp;02/28/39 | 362887 |
| 175000 | Societe Generale S.A.<sup>(a)</sup> |  | 4.7500 | &nbsp;&nbsp;&nbsp;11/24/25 | 174617 |
| 525000 | Societe Generale S.A.<sup>(a)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;08/19/26 | 520544 |
| 500000 | Societe Generale S.A.<sup>(a),(f)</sup> | H15T1Y + 1.300% | 2.7970 | &nbsp;&nbsp;&nbsp;01/19/28 | 482292 |
| 1000000 | Societe Generale S.A.<sup>(f)</sup> | H15T5Y + 4.514% | 5.3750 | &nbsp;&nbsp;&nbsp;Perpetual | 875655 |
| 1000000 | Wells Fargo & Company<sup>(f)</sup> | H15T5Y + 3.453% | 3.9000 | &nbsp;&nbsp;&nbsp;Perpetual | 982525 |
|  |  |  |  |  | 16742092 |
|  | **BIOTECH & PHARMA** — **2.5%** | **BIOTECH & PHARMA** — **2.5%** |  |  |  |
| 1113000 | Teva Pharmaceutical Finance Netherlands III BV |  | 3.1500 | &nbsp;&nbsp;&nbsp;10/01/26 | 1077274 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 58.9% (Continued)** | **CORPORATE BONDS — 58.9% (Continued)** |  |  |  |
|  | **BIOTECH & PHARMA** — **2.5% (Continued)** | **BIOTECH & PHARMA** — **2.5% (Continued)** |  |  |  |
| 1800000 | Teva Pharmaceutical Finance Netherlands III BV |  | 4.7500 | &nbsp;&nbsp;&nbsp;05/09/27 | $1768692 |
| 500000 | Teva Pharmaceutical Finance Netherlands III BV |  | 6.7500 | &nbsp;&nbsp;&nbsp;03/01/28 | 511989 |
|  |  |  |  |  | 3357955 |
|  | **COMMERCIAL SUPPORT SERVICES** — **0.7%** | **COMMERCIAL SUPPORT SERVICES** — **0.7%** |  |  |  |
| 1000000 | Aramark Services, Inc.<sup>(a)</sup> |  | 5.0000 | &nbsp;&nbsp;&nbsp;02/01/28 | 983435 |
|  | **ELECTRIC UTILITIES** — **4.1%** | **ELECTRIC UTILITIES** — **4.1%** |  |  |  |
| 1000000 | American Electric Power Company, Inc.<sup>(f)</sup> | H15T5Y + 2.675% | 3.8750 | &nbsp;&nbsp;&nbsp;02/15/62 | 941869 |
| 1110000 | CenterPoint Energy, Inc.<sup>(f)</sup> | H15T5Y + 3.254% | 7.0000 | &nbsp;&nbsp;&nbsp;02/15/55 | 1136435 |
| 2000000 | Electricite de France S.A.<sup>(a),(f)</sup> | H15T5Y + 5.411% | 9.1250 | &nbsp;&nbsp;&nbsp;Perpetual | 2241950 |
| 1250000 | Southern Company (The)<sup>(f)</sup> | H15T5Y + 2.915% | 3.7500 | &nbsp;&nbsp;&nbsp;09/15/51 | 1212200 |
|  |  |  |  |  | 5532454 |
|  | **ENTERTAINMENT CONTENT** — **0.1%** | **ENTERTAINMENT CONTENT** — **0.1%** |  |  |  |
| 125000 | Warner Media, LLC |  | 2.9500 | &nbsp;&nbsp;&nbsp;07/15/26 | 121350 |
|  | **HEALTH CARE FACILITIES & SERVICES** — **0.6%** | **HEALTH CARE FACILITIES & SERVICES** — **0.6%** |  |  |  |
| 813000 | Charles River Laboratories International, Inc.<sup>(a)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;05/01/28 | 773472 |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **1.9%** | **INSTITUTIONAL FINANCIAL SERVICES** — **1.9%** |  |  |  |
| 1669000 | Bank of New York Mellon Corporation (The) Series H<sup>(f)</sup> | H15T5Y + 3.352% | 3.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 1634869 |
| 1000000 | Goldman Sachs Group, Inc. (The)<sup>(f)</sup> | H15T5Y + 2.915% | 3.6500 | &nbsp;&nbsp;&nbsp;Perpetual | 958355 |
|  |  |  |  |  | 2593224 |
|  | **INSURANCE** — **0.2%** | **INSURANCE** — **0.2%** |  |  |  |
| 250000 | Athene Global Funding<sup>(a)</sup> |  | 2.9500 | &nbsp;&nbsp;&nbsp;11/12/26 | 244271 |
|  | **LEISURE FACILITIES & SERVICES** — **5.7%** | **LEISURE FACILITIES & SERVICES** — **5.7%** |  |  |  |
| 577000 | Boyd Gaming Corporation |  | 4.7500 | &nbsp;&nbsp;&nbsp;12/01/27 | 566020 |
| 587000 | Caesars Entertainment, Inc.<sup>(a)</sup> |  | 4.6250 | &nbsp;&nbsp;&nbsp;10/15/29 | 542472 |
| 1000000 | Carnival Corporation<sup>(a)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;08/01/28 | 954445 |
| 265000 | International Game Technology plc<sup>(a)</sup> |  | 4.1250 | &nbsp;&nbsp;&nbsp;04/15/26 | 262358 |
| 837000 | International Game Technology plc<sup>(a)</sup> |  | 6.2500 | &nbsp;&nbsp;&nbsp;01/15/27 | 841378 |
| 500000 | International Game Technology plc<sup>(a)</sup> |  | 5.2500 | &nbsp;&nbsp;&nbsp;01/15/29 | 489328 |
| 800000 | Las Vegas Sands Corporation |  | 2.9000 | &nbsp;&nbsp;&nbsp;06/25/25 | 796887 |
| 1134000 | Penn Entertainment Inc<sup>(a)</sup> |  | 5.6250 | &nbsp;&nbsp;&nbsp;01/15/27 | 1117144 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 58.9% (Continued)** | **CORPORATE BONDS — 58.9% (Continued)** |  |  |  |
|  | **LEISURE FACILITIES & SERVICES** — **5.7% (Continued)** | **LEISURE FACILITIES & SERVICES** — **5.7% (Continued)** |  |  |  |
| 500000 | Scientific Games International, Inc.<sup>(a)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;05/15/28 | $500558 |
| 262000 | Scientific Games International, Inc.<sup>(a)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;11/15/29 | 267018 |
| 1300000 | Station Casinos, LLC<sup>(a)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;02/15/28 | 1255359 |
|  |  |  |  |  | 7592967 |
|  | **OIL & GAS PRODUCERS** — **3.0%** | **OIL & GAS PRODUCERS** — **3.0%** |  |  |  |
| 4046000 | Energy Transfer, L.P.<sup>(f)</sup> | H15T5Y + 5.694% | 6.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 4030072 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **1.4%** | **REAL ESTATE INVESTMENT TRUSTS** — **1.4%** |  |  |  |
| 1250000 | GLP Capital, L.P. / GLP Financing II, Inc. |  | 5.3750 | &nbsp;&nbsp;&nbsp;04/15/26 | 1247904 |
| 166000 | MGM Growth Properties Operating Partnership, L.P. |  | 5.7500 | &nbsp;&nbsp;&nbsp;02/01/27 | 167823 |
| 500000 | VICI Properties, L.P. / VICI Note Company, Inc.<sup>(a)</sup> |  | 4.2500 | &nbsp;&nbsp;&nbsp;12/01/26 | 495329 |
|  |  |  |  |  | 1911056 |
|  | **RETAIL - DISCRETIONARY** — **1.2%** | **RETAIL - DISCRETIONARY** — **1.2%** |  |  |  |
| 1605000 | Penske Automotive Group, Inc. |  | 3.5000 | &nbsp;&nbsp;&nbsp;09/01/25 | 1594153 |
|  | **SPECIALTY FINANCE** — **6.5%** | **SPECIALTY FINANCE** — **6.5%** |  |  |  |
| 375000 | AerCap Global Aviation Trust<sup>(a),(f)</sup> | TSFR3M + 4.300% | 6.5000 | &nbsp;&nbsp;&nbsp;06/15/45 | 375653 |
| 2226000 | Air Lease Corporation<sup>(f)</sup> | H15T5Y + 4.076% | 4.6500 | &nbsp;&nbsp;&nbsp;Perpetual | 2161508 |
| 500000 | Ally Financial, Inc. |  | 5.7500 | &nbsp;&nbsp;&nbsp;11/20/25 | 500704 |
| 250000 | Ally Financial, Inc. |  | 6.0000 | &nbsp;&nbsp;&nbsp;07/15/29 | 250643 |
| 1505000 | Ally Financial, Inc. Series B<sup>(f)</sup> | H15T5Y + 3.868% | 4.7000 | &nbsp;&nbsp;&nbsp;Perpetual | 1387430 |
| 650000 | Aviation Capital Group, LLC<sup>(a)</sup> |  | 4.8750 | &nbsp;&nbsp;&nbsp;10/01/25 | 649396 |
| 250000 | Aviation Capital Group, LLC<sup>(a)</sup> |  | 1.9500 | &nbsp;&nbsp;&nbsp;01/30/26 | 244339 |
| 790000 | Capital One Financial Corporation<sup>(f)</sup> | H15T5Y + 3.157% | 3.9500 | &nbsp;&nbsp;&nbsp;Perpetual | 753167 |
| 922000 | Discover Financial Services Series C<sup>(f)</sup> | US0003M + 3.076% | 5.5000 | &nbsp;&nbsp;&nbsp;Perpetual | 884220 |
| 500000 | ILFC E-Capital Trust I<sup>(a),(f)</sup> | TSFR3M + 1.812% | 6.1170 | &nbsp;&nbsp;&nbsp;12/21/65 | 404519 |
| 135000 | OneMain Finance Corporation |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/15/27 | 129353 |
| 750000 | Synchrony Financial |  | 4.5000 | &nbsp;&nbsp;&nbsp;07/23/25 | 748812 |
| 250000 | Synchrony Financial |  | 3.7000 | &nbsp;&nbsp;&nbsp;08/04/26 | 244736 |
|  |  |  |  |  | 8734480 |
|  | **TRANSPORTATION & LOGISTICS** — **1.2%** | **TRANSPORTATION & LOGISTICS** — **1.2%** |  |  |  |
| 1173000 | Air Canada<sup>(a)</sup> |  | 3.8750 | &nbsp;&nbsp;&nbsp;08/15/26 | 1151486 |
| 380000 | United Airlines, Inc.<sup>(a)</sup> |  | 4.3750 | &nbsp;&nbsp;&nbsp;04/15/26 | 374685 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 58.9% (Continued)** | **CORPORATE BONDS — 58.9% (Continued)** |  |  |  |
|  | **TRANSPORTATION & LOGISTICS** — **1.2% (Continued)** | **TRANSPORTATION & LOGISTICS** — **1.2% (Continued)** |  |  | |
|  |  |  |  |  | $1526171 |
|  | **TOTAL CORPORATE BONDS (Cost $78,878,791)** | **TOTAL CORPORATE BONDS (Cost $78,878,791)** |  |  | 78848963 |
|  | **TERM LOANS — 10.9%** | **TERM LOANS — 10.9%** |  |  |  |
|  | **COMMERCIAL SUPPORT SERVICES** — **1.8%** | **COMMERCIAL SUPPORT SERVICES** — **1.8%** |  |  |  |
| 876858 | Aramark Services, Inc.<sup>(b)</sup> | TSFR1M + 2.000% | 6.3250 | &nbsp;&nbsp;&nbsp;04/06/28 | 880036 |
| 1481250 | Aramark Services, Inc.<sup>(b)</sup> | TSFR1M + 2.000% | 6.3110 | &nbsp;&nbsp;&nbsp;06/24/30 | 1483561 |
|  |  |  |  |  | 2363597 |
|  | **LEISURE FACILITIES & SERVICES** — **2.6%** | **LEISURE FACILITIES & SERVICES** — **2.6%** |  |  |  |
| 990019 | Restaurant Brands<sup>(b)</sup> | TSFR1M + 1.750% | 6.0720 | &nbsp;&nbsp;&nbsp;09/23/30 | 982208 |
| 990000 | Caesars Entertainment, Inc.<sup>(b)</sup> | TSFR3M + 2.250% | 6.4730 | &nbsp;&nbsp;&nbsp;02/06/31 | 976388 |
| 990656 | Light & Wonder International, Inc.<sup>(b)</sup> | TSFR1M + 2.250% | 6.5660 | &nbsp;&nbsp;&nbsp;04/16/29 | 991071 |
| 498721 | Penn Entertainment, Inc.<sup>(b)</sup> | TSFR1M + 2.500% | 6.8220 | &nbsp;&nbsp;&nbsp;05/03/29 | 497819 |
|  |  |  |  |  | 3447486 |
|  | **RETAIL - DISCRETIONARY** — **1.4%** | **RETAIL - DISCRETIONARY** — **1.4%** |  |  |  |
| 1947352 | Great Outdoors Group, LLC<sup>(b)</sup> | TSFR1M + 3.250% | 7.5720 | &nbsp;&nbsp;&nbsp;01/16/32 | 1908892 |
|  | **SEMICONDUCTORS** — **0.8%** | **SEMICONDUCTORS** — **0.8%** |  |  |  |
| 1109442 | MKS Instruments, Inc.<sup>(b)</sup> | TSFR1M + 2.000% | 6.3230 | &nbsp;&nbsp;&nbsp;08/17/29 | 1104172 |
|  | **SOFTWARE** — **0.8%** | **SOFTWARE** — **0.8%** |  |  |  |
| 1212500 | Sunshine Software Merger Sub, Inc.<sup>(b)</sup> | TSFR3M + 3.865% | 8.1860 | &nbsp;&nbsp;&nbsp;09/21/28 | 1079125 |
|  | **TRANSPORTATION & LOGISTICS** — **3.5%** | **TRANSPORTATION & LOGISTICS** — **3.5%** |  |  |  |
| 1150000 | AAdvantage Loyalty IP Ltd.<sup>(b)</sup> | TSFR3M + 5.012% | 6.5430 | &nbsp;&nbsp;&nbsp;04/20/28 | 1128179 |
| 1980000 | Air Canada<sup>(b)</sup> | TSFR1M + 2.000% | 6.3230 | &nbsp;&nbsp;&nbsp;03/21/31 | 1960407 |
| 1661608 | United Airlines, Inc.<sup>(b)</sup> | TSFR3M + 2.000% | 6.2750 | &nbsp;&nbsp;&nbsp;02/24/31 | 1659797 |
|  |  |  |  |  | 4748383 |
|  | **TOTAL TERM LOANS (Cost $14,952,245)** | **TOTAL TERM LOANS (Cost $14,952,245)** |  |  | 14651655 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** | **ANFIELD UNIVERSAL FIXED INCOME ETF** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** | **April 30, 2025** |
| **Principal Amount ($)** |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 2.2%** | **U.S. GOVERNMENT & AGENCIES — 2.2%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **2.2%** | **U.S. TREASURY BILLS** — **2.2%** |  |  |  |
| 3000000 | United States Treasury Bill<sup>(g)</sup> |  | 4.200 | &nbsp;&nbsp;&nbsp;09/11/25 | $2954434 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $2,955,018)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $2,955,018)** |  |  | 2954434 |
|  | **TOTAL INVESTMENTS - 98.0% (Cost $135,919,601)** | **TOTAL INVESTMENTS - 98.0% (Cost $135,919,601)** |  |  | &nbsp;&nbsp;&nbsp; $131311892 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 2.0%** | **OTHER ASSETS IN EXCESS OF LIABILITIES- 2.0%** |  |  | &nbsp;&nbsp; 2703421 |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $134015313 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** | **Broker** | **Expiration** | **Notional Amount<sup>(h)</sup>** | **Value and Unrealized Appreciation** |
| 15 | CBOT 10 Year US Treasury Note | Interactive Broker | 06/19/2025 | &nbsp;&nbsp;&nbsp; $1683281 | &nbsp;&nbsp;&nbsp; $37734 |
| 15 | CBOT 5 Year US Treasury Note | Interactive Broker | 07/01/2025 | &nbsp;&nbsp;&nbsp; 1637930 | &nbsp;&nbsp;&nbsp; 34102 |
| 15 | CBOT US Treasury Bond | Interactive Broker | 06/19/2025 | &nbsp;&nbsp;&nbsp; 1749375 | &nbsp;&nbsp;&nbsp; 10312 |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  | &nbsp;&nbsp; $82148 |

---

---

| | |
|:---|:---|
| CLO | - Collateralized Loan Obligations |
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| LTD | - Limited Company |
| NV | - Naamioze Vennootschap |
| PLC | - Public Limited Company |
| REMIC | - Real Estate Mortgage Investment Conduit |
| S.A. | - Société Anonyme |
| H15T1Y | US Treasury Yield Curve Rate T Note Constant Maturity 1 Year |
| H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year |
| SOFR30A | United States 30 Day Average SOFR Secured Overnight Financing Rate |
| SOFRRATE | United States SOFR Secured Overnight Financing Rate |
| TSFR1M | Term SOFR Secured Overnight Financing Rate 1 month |
| TSFR3M | Term SOFR Secured Overnight Financing Rate 3 months |
| US0003M | ICE LIBOR USD 3 Month |

---

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of April 30, 2025, the total market value of 144A securities is $54,512,840 or 40.7% of net assets.

<sup>(b)</sup> Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

<sup>(d)</sup> Step bond. Coupon rate is fixed rate that changes on a specified date. The rate shown is the current rate at April 30, 2025.

<sup>(e)</sup> Interest only securities.

<sup>(f)</sup> Variable rate security; the rate shown represents the rate on April 30, 2025.

<sup>(g)</sup> Zero coupon bond.

<sup>(h)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Two Roads Shared Trust

- **b. Investment Company Act file number:** 811-22718

- **c. CIK number of Registrant:** 0001552947

- **d. LEI of Registrant:** 549300REHU8QC2CK4V30

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

  - **Street Address 1:** 225 PICTORIA DRIVE

  - **City:** CINCINNATI

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 402-895-1600

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

- **a. Name of Series:** Anfield Universal Fixed Income ETF

- **b. EDGAR series identifier (if any):** S000062994

- **c. LEI of Series:** 549300P4WM6QLLS2DJ24

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $134110184.72

**Total Liabilities:** $94871.72

**Net Assets:** $134015313.00

**Cash Not Reported:** $1443298.51

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 391.86519000 | **1-Year:** 3483.41898000 | **5-Year:** 8367.54648000 | **10-Year:** 8294.13405400 | **30-Year:** 610.17365300

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

- **3-Month:** 504.08175000 | **1-Year:** 3606.96468700 | **5-Year:** 6170.31097900 | **10-Year:** 1619.45705800 | **30-Year:** 0.42026300

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000204431 | 0.82%                | -0.01%               | 0.21%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4594.91                 | $427854.71                                 |
| Month 2  | $2073.12                 | $-578436.00                                |
| Month 3  | $-869.46                 | $-367709.08                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ABN AMRO Bank N.V.                                              | ABNANV 4 3/4 07/28/25   | CUSIP: 00080QAF2<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    550000 | PA      | $549512.48    | 0.41%             | 2025-07-28      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Aercap Global Aviation Trust                                    | AER 6 1/2 06/15/45      | CUSIP: 00773HAA5<br>LEI: 635400FBSV8LXXNRV758 | Long             | DBT              | CORP              | US        |    375000 | PA      | $375652.68    | 0.28%             | 2045-06-15      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Air Canada                                                      | ACACN 3 7/8 08/15/26    | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |   1173000 | PA      | $1151485.77   | 0.86%             | 2026-08-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Air Lease Corporation                                           | AL 4.65 PERP            | CUSIP: 00912XBJ2<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |   2226000 | PA      | $2161508.77   | 1.61%             | 2170-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Allegro CLO XV Ltd.                                             | ALLEG 2022-1A D1AR      | CUSIP: 01749WAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1473141.00   | 1.10%             | 2038-04-20      | Floating      | 7.31%                 | Yes           |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 5 3/4 11/20/25     | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500703.66    | 0.37%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 4.7 PERP           | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1505000 | PA      | $1387429.55   | 1.04%             | 2169-08-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc.                                             | ALLY 6 07/15/29         | CUSIP: 02006DV40<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250643.34    | 0.19%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Alternative Loan Trust 2006-Hy12                                | CWALT 2007-J1 3A2       | CUSIP: 02149MCJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     43797 | PA      | $40664.37     | 0.03%             | 2036-11-25      | Floating      | 4.09%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                                | AEP 3 7/8 02/15/62      | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $941869.00    | 0.70%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Apidos CLO XV                                                   | APID 2013-15A DRR       | CUSIP: 03764QBL5<br>LEI: 549300HXW2GBYSKFE344 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1988918.00   | 1.48%             | 2031-04-20      | Floating      | 7.23%                 | Yes           |                  2 | On Loan: No      |
| Aramark Services, Inc.                                          | ARMK 5 02/01/28         | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $983434.90    | 0.73%             | 2028-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ares Capital Corp.                                              | ARCC 3 1/4 07/15/25     | CUSIP: 04010LAY9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    250000 | PA      | $249206.82    | 0.19%             | 2025-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                           | ATH 2.95 11/12/26       | CUSIP: 04685A2K6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244271.14    | 0.18%             | 2026-11-12      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                      | ACGCAP 4 7/8 10/01/25   | CUSIP: 05367AAH6<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    650000 | PA      | $649395.78    | 0.48%             | 2025-10-01      | Fixed         | 4.88%                 | Yes           |                  2 | On Loan: No      |
| Aviation Capital Group LLC                                      | ACGCAP 1.95 01/30/26    | CUSIP: 05369AAK7<br>LEI: 549300ODEK8HY3445C77 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244339.08    | 0.18%             | 2026-01-30      | Fixed         | 1.95%                 | Yes           |                  2 | On Loan: No      |
| Bcap Llc Tr 07-Aa2                                              | BCAP 2007-AA2 21IO      | CUSIP: 05530NBF3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1726471 | PA      | $18482.39     | 0.01%             | 2037-04-25      | Floating      | 0.42%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 4 5/8 PERP          | CUSIP: 05565AB28<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1300000 | PA      | $1231675.90   | 0.92%             | 2177-01-12      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 4 3/8 09/28/25      | CUSIP: 05581KAA9<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   1002000 | PA      | $998809.73    | 0.75%             | 2025-09-28      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Bain Capital Specialty Finance Inc                              | BCSF 2.95 03/10/26      | CUSIP: 05684BAB3<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |   2098000 | PA      | $2058677.06   | 1.54%             | 2026-03-10      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.                               | BK 3.7 PERP             | CUSIP: 064058AJ9<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   1669000 | PA      | $1634868.95   | 1.22%             | 2170-03-20      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                    | BACR 4.836 05/09/28     | CUSIP: 06738EAW5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $498782.31    | 0.37%             | 2028-05-09      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                    | BACR 2.852 05/07/26     | CUSIP: 06738EBL8<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $199904.05    | 0.15%             | 2026-05-07      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                                    | BACR 5.304 08/09/26     | CUSIP: 06738EBZ7<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $250131.53    | 0.19%             | 2026-08-09      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Battalion Clo Xvii Ltd/ Llc                                     | BATLN 2021-17A CR       | CUSIP: 07133PAS8<br>LEI: 549300QQUW46V6EB1N30 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999981.00    | 0.75%             | 2034-03-09      | Floating      | 6.52%                 | Yes           |                  2 | On Loan: No      |
| Blackstone Secured Lending Fund                                 | BXSL 3 5/8 01/15/26     | CUSIP: 09261LAC2<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    600000 | PA      | $593651.72    | 0.44%             | 2026-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                  | BNP 2.219 06/09/26      | CUSIP: 09659W2L7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $249274.33    | 0.19%             | 2026-06-09      | Fixed         | 2.22%                 | Yes           |                  2 | On Loan: No      |
| Boyd Gaming Corporation                                         | BYD 4 3/4 12/01/27      | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    577000 | PA      | $566020.32    | 0.42%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc.                                      | CZR 4 5/8 10/15/29      | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    587000 | PA      | $542471.88    | 0.40%             | 2029-10-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| Capital One Financial Corp.                                     | COF 3.95 PERP           | CUSIP: 14040HCF0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    790000 | PA      | $753166.65    | 0.56%             | 2169-09-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CARLYLE US CLO 2018-2 LTD                                       | CGMS 2018-2A C          | CUSIP: 14317PAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1998414.00   | 1.49%             | 2031-10-15      | Floating      | 7.42%                 | Yes           |                  2 | On Loan: No      |
| Carnival Corporation                                            | CCL 4 08/01/28          | CUSIP: 143658BQ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   1000000 | PA      | $954445.00    | 0.71%             | 2028-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Centerpoint Energy Inc                                          | CNP 7 02/15/55          | CUSIP: 15189TBH9<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $1136434.64   | 0.85%             | 2055-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Charles River Laboratories International, Inc.                  | CRL 4 1/4 05/01/28      | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |    813000 | PA      | $773471.74    | 0.58%             | 2028-05-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Inc.                                                  | C 3 7/8 PERP            | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1462586.18   | 1.09%             | 2169-05-18      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                                    | CFG 4 PERP              | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |    761000 | PA      | $716290.34    | 0.53%             | 2171-10-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A. London Branch                              | ACAFP 1.907 06/16/26    | CUSIP: 22535WAG2<br>LEI: N/A                  | Long             | DBT              | CORP              | FR        |    500000 | PA      | $498145.58    | 0.37%             | 2026-06-16      | Fixed         | 1.91%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                    | UBS 2.193 06/05/26      | CUSIP: 225401AQ1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    431000 | PA      | $429905.34    | 0.32%             | 2026-06-05      | Fixed         | 2.19%                 | Yes           |                  2 | On Loan: No      |
| UBS Group AG                                                    | UBS 6.373 07/15/26      | CUSIP: 225401AY4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    250000 | PA      | $250704.93    | 0.19%             | 2026-07-15      | Fixed         | 6.37%                 | Yes           |                  2 | On Loan: No      |
| Deutsche Bank AG                                                | DB 6 PERP               | CUSIP: 251525AX9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |   1000000 | PA      | $981660.10    | 0.73%             | 2170-02-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Discover Financial Services Inc.                                | DFS 5 1/2 PERP          | CUSIP: 254709AN8<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    922000 | PA      | $884220.22    | 0.66%             | 2166-04-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fnd                                          | DRSLF 2018-55A D        | CUSIP: 26245MAL5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1600000 | PA      | $1595028.80   | 1.19%             | 2031-04-15      | Floating      | 7.37%                 | Yes           |                  2 | On Loan: No      |
| DRYDEN 109 CLO LTD                                              | DRSLF 2022-109A BR      | CUSIP: 26248KAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1500000 | PA      | $1490140.50   | 1.11%             | 2038-04-15      | Floating      | 5.83%                 | Yes           |                  2 | On Loan: No      |
| Dryden 37 Senior Loan Fund                                      | DRSLF 2015-37A ER       | CUSIP: 26249MAW7<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1388491.50   | 1.04%             | 2031-01-15      | Floating      | 9.67%                 | Yes           |                  2 | On Loan: No      |
| Electricite de France SA                                        | EDF 9 1/8 PERP          | CUSIP: 28504KAA5<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |   2000000 | PA      | $2241950.00   | 1.67%             | 2173-06-15      | Fixed         | 9.12%                 | Yes           |                  2 | On Loan: No      |
| Energy Transfer LP                                              | ET 6 1/2 PERP           | CUSIP: 29273VAN0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4046000 | PA      | $4030071.71   | 3.01%             | 2169-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3.4 01/15/26        | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197331.62    | 0.15%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 2 5/8 01/15/27      | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    275000 | PA      | $260398.38    | 0.19%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3 1/8 10/12/28      | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    243000 | PA      | $219250.74    | 0.16%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| FS KKR Capital Corp                                             | FSK 3 1/4 07/15/27      | CUSIP: 302635AL1<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    625000 | PA      | $593346.44    | 0.44%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 221 IO              | CUSIP: 31282YDE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     77805 | PA      | $11974.50     | 0.01%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 239 IO              | CUSIP: 31282YJ34<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     41061 | PA      | $7638.87      | 0.01%             | 2036-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 240 IO              | CUSIP: 31282YJ42<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    235987 | PA      | $42553.28     | 0.03%             | 2036-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 238 8               | CUSIP: 31282YJZ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    210096 | PA      | $34350.19     | 0.03%             | 2036-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 244 IO              | CUSIP: 31282YXC8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    584111 | PA      | $85565.01     | 0.06%             | 2036-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 247 24              | CUSIP: 3128HUFQ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    343479 | PA      | $51224.54     | 0.04%             | 2036-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 303 105             | CUSIP: 31325T6C8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    283499 | PA      | $39032.59     | 0.03%             | 2043-01-15      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 324 C17             | CUSIP: 31325VBM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2741647 | PA      | $244925.79    | 0.18%             | 2033-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 324 C24             | CUSIP: 31325VBU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1020336 | PA      | $212217.35    | 0.16%             | 2043-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 365 121             | CUSIP: 31325XKX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    581927 | PA      | $83224.83     | 0.06%             | 2047-10-15      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 365 C10             | CUSIP: 31325XUV0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    543669 | PA      | $111357.04    | 0.08%             | 2049-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHS 367 116             | CUSIP: 31325XXE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    892571 | PA      | $133658.25    | 0.10%             | 2050-06-15      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2367 SG             | CUSIP: 31339GL25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     64368 | PA      | $6313.64      | 0.00%             | 2031-06-15      | Floating      | 3.42%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 291 2               | CUSIP: 31364HR41<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     57189 | PA      | $2917.02      | 0.00%             | 2027-11-25      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2011-96 SA          | CUSIP: 3136A1QW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    296554 | PA      | $24961.97     | 0.02%             | 2041-10-25      | Floating      | 2.08%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2011-122 DS         | CUSIP: 3136A2YT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1255121 | PA      | $187234.38    | 0.14%             | 2041-12-25      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-30 CI          | CUSIP: 3136A5YA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1737147 | PA      | $179253.78    | 0.13%             | 2041-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-68 NS          | CUSIP: 3136A7DH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    416020 | PA      | $21589.84     | 0.02%             | 2042-03-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-89 SA          | CUSIP: 3136A7U91<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    669269 | PA      | $56999.20     | 0.04%             | 2042-08-25      | Floating      | 1.08%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2012-103 TI         | CUSIP: 3136A8ZQ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1152408 | PA      | $192054.26    | 0.14%             | 2042-09-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2013-103 JS         | CUSIP: 3136AGNX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    244882 | PA      | $25048.96     | 0.02%             | 2043-10-25      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2014-38 QI          | CUSIP: 3136AKNS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    274742 | PA      | $41911.74     | 0.03%             | 2043-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2014-68 IB          | CUSIP: 3136ALRF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     74448 | PA      | $8115.18      | 0.01%             | 2043-02-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2014-87 MS          | CUSIP: 3136AMKT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    892781 | PA      | $96815.54     | 0.07%             | 2045-01-25      | Floating      | 1.78%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2015-33 OI          | CUSIP: 3136APCS9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    180263 | PA      | $20681.24     | 0.02%             | 2045-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2016-39 LS          | CUSIP: 3136ASU38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    365275 | PA      | $44217.82     | 0.03%             | 2046-07-25      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2017-87 KI          | CUSIP: 3136AYZ97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    198019 | PA      | $26352.20     | 0.02%             | 2041-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2017-97 SW          | CUSIP: 3136B0DZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1243165 | PA      | $157646.73    | 0.12%             | 2047-12-25      | Floating      | 1.73%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2017-108 SA         | CUSIP: 3136B0RS7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    856844 | PA      | $106050.14    | 0.08%             | 2048-01-25      | Floating      | 1.68%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2018-58 IO          | CUSIP: 3136B2XG2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    382678 | PA      | $57238.99     | 0.04%             | 2048-08-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2018-54 SA          | CUSIP: 3136B2XW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2432881 | PA      | $248794.39    | 0.19%             | 2048-08-25      | Floating      | 1.78%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2018-74 MI          | CUSIP: 3136B3JA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    102489 | PA      | $20101.54     | 0.01%             | 2048-10-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2019-41 SB          | CUSIP: 3136B5SN6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    363000 | PA      | $45453.69     | 0.03%             | 2049-08-25      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2020-10 S           | CUSIP: 3136B9AZ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    983622 | PA      | $115772.25    | 0.09%             | 2059-05-25      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 343 6               | CUSIP: 3136FA6C9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     62414 | PA      | $6644.30      | 0.00%             | 2033-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 377 2               | CUSIP: 3136FC5N2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    110572 | PA      | $18664.12     | 0.01%             | 2036-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 346 2               | CUSIP: 3136FCBD7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     75499 | PA      | $12078.87     | 0.01%             | 2033-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 355 12              | CUSIP: 3136FCNM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47948 | PA      | $5854.42      | 0.00%             | 2034-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 371 2               | CUSIP: 3136FCP75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    441620 | PA      | $84678.29     | 0.06%             | 2036-07-25      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 364 2               | CUSIP: 3136FCYK6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    255777 | PA      | $35489.79     | 0.03%             | 2035-09-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 365 4               | CUSIP: 3136FCZD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    418702 | PA      | $62328.02     | 0.05%             | 2036-04-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 370 2               | CUSIP: 3136FEAB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     66352 | PA      | $12938.60     | 0.01%             | 2036-06-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 378 4               | CUSIP: 3136FEMF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    593743 | PA      | $102997.19    | 0.08%             | 2036-07-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 384 28              | CUSIP: 3136FEU42<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    113836 | PA      | $18985.05     | 0.01%             | 2036-05-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 385 3               | CUSIP: 3136FEV74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    345084 | PA      | $54153.97     | 0.04%             | 2038-01-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 383 20              | CUSIP: 3136FFNR6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69706 | PA      | $10991.57     | 0.01%             | 2037-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 407 40              | CUSIP: 3136FG4X2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    385421 | PA      | $76185.51     | 0.06%             | 2038-01-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 408 C4              | CUSIP: 3136FG6H5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    817075 | PA      | $146721.77    | 0.11%             | 2040-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 395 7               | CUSIP: 3136FGDK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1296663 | PA      | $241096.26    | 0.18%             | 2036-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 396 2               | CUSIP: 3136FGEU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    200666 | PA      | $28338.45     | 0.02%             | 2039-06-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 398 C9              | CUSIP: 3136FGRH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    692898 | PA      | $193565.26    | 0.14%             | 2039-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 399 2               | CUSIP: 3136FKAB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    288843 | PA      | $59237.30     | 0.04%             | 2039-11-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNS 409 C18             | CUSIP: 3136FLFM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    309501 | PA      | $58303.78     | 0.04%             | 2042-04-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3758 S              | CUSIP: 3137A3G45<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    128368 | PA      | $11927.80     | 0.01%             | 2040-11-15      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3935 SH             | CUSIP: 3137AGTF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    331868 | PA      | $5937.64      | 0.00%             | 2040-12-15      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4091 TS             | CUSIP: 3137ATGE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    121131 | PA      | $17360.01     | 0.01%             | 2042-08-15      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4139 PO             | CUSIP: 3137AWYB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    102250 | PA      | $68048.02     | 0.05%             | 2042-08-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4291 MS             | CUSIP: 3137B7AC3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    203131 | PA      | $23208.38     | 0.02%             | 2054-01-15      | Floating      | 1.44%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4340 TI             | CUSIP: 3137BAW32<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     92714 | PA      | $3574.21      | 0.00%             | 2039-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4456 IA             | CUSIP: 3137BGRL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    156212 | PA      | $25958.02     | 0.02%             | 2045-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4451 DI             | CUSIP: 3137BHBX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    125647 | PA      | $3630.93      | 0.00%             | 2039-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4471 JI             | CUSIP: 3137BJH22<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    336476 | PA      | $57398.72     | 0.04%             | 2043-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4583 ST             | CUSIP: 3137BPDJ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    202728 | PA      | $24154.90     | 0.02%             | 2046-05-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4583 TI             | CUSIP: 3137BPDK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   6684507 | PA      | $17887.07     | 0.01%             | 2046-05-15      | Floating      | 0.10%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4618 SA             | CUSIP: 3137BRXK6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    340100 | PA      | $42156.86     | 0.03%             | 2046-09-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5086 HI             | CUSIP: 3137FFGG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    810721 | PA      | $180034.76    | 0.13%             | 2051-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 4995 KI             | CUSIP: 3137FUX25<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    970764 | PA      | $151578.30    | 0.11%             | 2043-12-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5007 SK             | CUSIP: 3137FVLY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    651676 | PA      | $89257.04     | 0.07%             | 2050-08-25      | Floating      | 1.63%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5112 IB             | CUSIP: 3137H0R91<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    686509 | PA      | $77821.10     | 0.06%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5136 IJ             | CUSIP: 3137H1QP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    494824 | PA      | $59715.46     | 0.04%             | 2051-02-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 5174 NI             | CUSIP: 3137H4MG2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    901835 | PA      | $159729.57    | 0.12%             | 2051-12-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2001-32 SA          | CUSIP: 313920FS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     42834 | PA      | $2440.73      | 0.00%             | 2031-07-25      | Floating      | 3.48%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2003-7 SN           | CUSIP: 31392HY56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    325208 | PA      | $42635.37     | 0.03%             | 2033-02-25      | Floating      | 3.28%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2444 TI             | CUSIP: 31392KWY8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     55564 | PA      | $6516.55      | 0.00%             | 2032-05-15      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2463 SB             | CUSIP: 31392MTM4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    154793 | PA      | $14925.44     | 0.01%             | 2032-06-15      | Floating      | 3.54%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2524 SX             | CUSIP: 31392XY85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     20822 | PA      | $2121.72      | 0.00%             | 2032-11-15      | Floating      | 3.44%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2003-43 IY          | CUSIP: 31393A5A1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     87243 | PA      | $11574.31     | 0.01%             | 2033-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2616 SC             | CUSIP: 31393QTR3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     35519 | PA      | $3094.69      | 0.00%             | 2032-12-15      | Floating      | 3.54%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2004-70 XJ          | CUSIP: 31394A4U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    201383 | PA      | $28166.47     | 0.02%             | 2034-10-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2004-62 TP          | CUSIP: 31394AQS8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    158069 | PA      | $18273.95     | 0.01%             | 2033-07-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2004-91 DS          | CUSIP: 31394BYP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    147376 | PA      | $14704.93     | 0.01%             | 2034-12-25      | Floating      | 2.18%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2005-89 S           | CUSIP: 31394FUZ6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     85907 | PA      | $7414.79      | 0.01%             | 2035-10-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2005-87 SE          | CUSIP: 31394FV69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     49619 | PA      | $4329.08      | 0.00%             | 2035-10-25      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-8 HL           | CUSIP: 31394VV64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     34981 | PA      | $3758.74      | 0.00%             | 2036-03-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-8 WN           | CUSIP: 31394VX47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     16662 | PA      | $1633.83      | 0.00%             | 2036-03-25      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2802 SI             | CUSIP: 31394YQF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    444305 | PA      | $34260.45     | 0.03%             | 2034-05-15      | Floating      | 1.54%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-18 BF          | CUSIP: 31395B7M9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1089713 | PA      | $103604.28    | 0.08%             | 2036-04-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2950 SN             | CUSIP: 31395PXS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    216546 | PA      | $11893.73     | 0.01%             | 2035-03-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 2980 SL             | CUSIP: 31395UF63<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    208801 | PA      | $20764.15     | 0.02%             | 2034-11-15      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD          | FHR 3055 MS             | CUSIP: 31396CVS6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    613127 | PA      | $68101.40     | 0.05%             | 2035-10-15      | Floating      | 2.14%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3117 JS             | CUSIP: 31396HV30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     42816 | PA      | $4412.29      | 0.00%             | 2036-02-15      | Floating      | 2.24%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-101 SA         | CUSIP: 31396LHY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     96953 | PA      | $11442.81     | 0.01%             | 2036-10-25      | Floating      | 2.11%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-116 S          | CUSIP: 31396LZE3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     95464 | PA      | $9328.64      | 0.01%             | 2036-12-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2006-125 SM         | CUSIP: 31396PDC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     41194 | PA      | $4627.19      | 0.00%             | 2037-01-25      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2009-66 SH          | CUSIP: 31396QR50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    238418 | PA      | $15084.68     | 0.01%             | 2039-09-25      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3149 SM             | CUSIP: 31396RJ99<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    162857 | PA      | $15410.91     | 0.01%             | 2036-05-15      | Floating      | 2.19%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-28 CF          | CUSIP: 31396VKY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1109990 | PA      | $125517.15    | 0.09%             | 2036-07-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-28 LS          | CUSIP: 31396VLB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    128528 | PA      | $14284.09     | 0.01%             | 2036-01-25      | Floating      | 2.16%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-36 SN          | CUSIP: 31396VQY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    165649 | PA      | $20050.62     | 0.01%             | 2037-04-25      | Floating      | 2.30%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-55 S           | CUSIP: 31396WGR1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    597000 | PA      | $24998.53     | 0.02%             | 2037-06-25      | Floating      | 2.29%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-72 EK          | CUSIP: 31396WQH2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     72741 | PA      | $7833.62      | 0.01%             | 2037-07-25      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-66 AS          | CUSIP: 31396WXT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     74681 | PA      | $6997.26      | 0.01%             | 2037-07-25      | Floating      | 2.13%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-106 SN         | CUSIP: 31396XD92<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     73308 | PA      | $7386.01      | 0.01%             | 2037-11-25      | Floating      | 1.94%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-88 MI          | CUSIP: 31396XUW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    511397 | PA      | $46424.38     | 0.03%             | 2037-09-25      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-109 DI         | CUSIP: 31396XZ64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    157262 | PA      | $18887.41     | 0.01%             | 2037-12-25      | Floating      | 1.93%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2007-117 SM         | CUSIP: 31396YAV4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    219240 | PA      | $22530.56     | 0.02%             | 2038-01-25      | Floating      | 1.83%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3239 SI             | CUSIP: 31397CW39<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     78882 | PA      | $8856.07      | 0.01%             | 2036-11-15      | Floating      | 2.19%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3303 SG             | CUSIP: 31397GQ29<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    174228 | PA      | $16859.89     | 0.01%             | 2037-04-15      | Floating      | 1.64%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3355 BI             | CUSIP: 31397KCA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    168864 | PA      | $15873.09     | 0.01%             | 2037-08-15      | Floating      | 1.59%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3368 AI             | CUSIP: 31397KL90<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    162289 | PA      | $16744.04     | 0.01%             | 2037-09-15      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2008-24 SP          | CUSIP: 31397LDE6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |      3731 | PA      | $3765.50      | 0.00%             | 2038-02-25      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2008-58 SE          | CUSIP: 31397LQ51<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1418766 | PA      | $144159.79    | 0.11%             | 2038-07-25      | Floating      | 1.53%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2011-11 PI          | CUSIP: 31397Q6P8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     57682 | PA      | $6651.00      | 0.00%             | 2041-03-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2009-112 ST         | CUSIP: 31398GKH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     77126 | PA      | $8047.91      | 0.01%             | 2040-01-25      | Floating      | 1.78%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3572 VS             | CUSIP: 31398JTX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    123320 | PA      | $14650.07     | 0.01%             | 2039-09-15      | Floating      | 2.27%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-130 HI         | CUSIP: 31398N3D4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    218457 | PA      | $41689.74     | 0.03%             | 2040-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-126 UI         | CUSIP: 31398SBJ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     66785 | PA      | $6679.79      | 0.00%             | 2040-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-139 SA         | CUSIP: 31398SWY5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    300482 | PA      | $33566.13     | 0.03%             | 2040-12-25      | Floating      | 1.56%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2010-89 AI          | CUSIP: 31398TPA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   4080092 | PA      | $13444.72     | 0.01%             | 2038-02-25      | Floating      | 0.15%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Mortgage Corp.                                | FHR 3652 CS             | CUSIP: 31398WY40<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |   1733868 | PA      | $223533.03    | 0.17%             | 2040-03-15      | Floating      | 2.09%                 | No            |                  2 | On Loan: No      |
| First Citizens BancShares Inc (Delaware)                        | FCNCA FLOAT PERP        | CUSIP: 31959XAA1<br>LEI: 549300N3Z00ZHE2XC526 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1017560.00   | 0.76%             | 2170-06-15      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 5 1/8 06/16/25        | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999270.03    | 0.75%             | 2025-06-16      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4 1/8 08/17/27        | CUSIP: 345397A86<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    812000 | PA      | $778933.89    | 0.58%             | 2027-08-17      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 3 3/8 11/13/25        | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1083000 | PA      | $1070477.34   | 0.80%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 2.7 08/10/26          | CUSIP: 345397B77<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    375000 | PA      | $360461.88    | 0.27%             | 2026-08-10      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.134 08/04/25        | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    600000 | PA      | $597321.91    | 0.45%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.687 06/09/25        | CUSIP: 345397ZJ5<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    985000 | PA      | $983700.39    | 0.73%             | 2025-06-09      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.542 08/01/26        | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491928.29    | 0.37%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 6.2 06/20/34          | CUSIP: 34540TH88<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $467317.52    | 0.35%             | 2034-06-20      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Company LLC                                   | F 4.85 11/20/29         | CUSIP: 34540TVW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    500000 | PA      | $479423.82    | 0.36%             | 2029-11-20      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GLP Capital L.P. and GLP Financing II, Inc.                     | GLPI 5 3/8 04/15/26     | CUSIP: 361841AH2<br>LEI: 2549005PXW31DRW8EC44 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1247904.08   | 0.93%             | 2026-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company  Inc                           | GM 5.7 PERP             | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $1034349.92   | 0.77%             | 2069-03-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                       | GS 3.65 PERP            | CUSIP: 38144GAG6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $958354.80    | 0.72%             | 2170-08-10      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-6 SD           | CUSIP: 383742HQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     69122 | PA      | $319.76       | 0.00%             | 2038-02-20      | Floating      | 2.03%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-15 CI          | CUSIP: 383742RH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    883664 | PA      | $26730.38     | 0.02%             | 2038-02-20      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-36 SB          | CUSIP: 38374D3E7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     88172 | PA      | $370.88       | 0.00%             | 2038-04-20      | Floating      | 1.84%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-2 SM           | CUSIP: 38374DPK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    118306 | PA      | $11301.27     | 0.01%             | 2038-01-16      | Floating      | 2.06%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-27 SI          | CUSIP: 38374DSX8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    107428 | PA      | $3059.27      | 0.00%             | 2038-03-20      | Floating      | 2.04%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2004-46 S           | CUSIP: 38374G6F4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    303143 | PA      | $15917.29     | 0.01%             | 2034-06-20      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2004-106 HW         | CUSIP: 38374KJW4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     22366 | PA      | $24849.12     | 0.02%             | 2034-12-16      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2009-43 SA          | CUSIP: 38374UF97<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     91528 | PA      | $4208.28      | 0.00%             | 2039-06-20      | Floating      | 1.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-95 DS          | CUSIP: 38375DYP7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     53051 | PA      | $1011.40      | 0.00%             | 2038-12-20      | Floating      | 2.87%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2012-77 DI          | CUSIP: 38375GAJ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    225206 | PA      | $9911.51      | 0.01%             | 2041-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2007-40 SW          | CUSIP: 38375KB76<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    102968 | PA      | $875.75       | 0.00%             | 2037-07-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-51 SC          | CUSIP: 38375QU31<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    110052 | PA      | $7849.72      | 0.01%             | 2038-06-20      | Floating      | 1.82%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2008-51 SE          | CUSIP: 38375QV30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    135973 | PA      | $10420.24     | 0.01%             | 2038-06-16      | Floating      | 1.81%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2017-56 IE          | CUSIP: 38376ULU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    997038 | PA      | $81311.14     | 0.06%             | 2044-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2017-68 CI          | CUSIP: 38376UT82<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    156842 | PA      | $29458.82     | 0.02%             | 2047-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-19 SD          | CUSIP: 38376V2G1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |      3269 | PA      | $3.06         | 0.00%             | 2039-07-16      | Floating      | 2.11%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-113 BS         | CUSIP: 38377J3U5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     62764 | PA      | $7778.09      | 0.01%             | 2040-09-20      | Floating      | 1.57%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-133 SB         | CUSIP: 38377MHU3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    971377 | PA      | $121425.89    | 0.09%             | 2040-10-16      | Floating      | 1.58%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2010-152 SA         | CUSIP: 38377NEM2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    109269 | PA      | $12842.67     | 0.01%             | 2040-11-16      | Floating      | 1.61%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2011-148 SN         | CUSIP: 38378AQF1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    281832 | PA      | $38591.34     | 0.03%             | 2041-11-16      | Floating      | 2.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2012-69 QI          | CUSIP: 38378EQG1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    115056 | PA      | $12242.84     | 0.01%             | 2041-03-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-4 ID           | CUSIP: 38378FNU0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    913063 | PA      | $166945.11    | 0.12%             | 2042-05-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-5 BI           | CUSIP: 38378FPP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    106362 | PA      | $17267.35     | 0.01%             | 2043-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2012-126 IO         | CUSIP: 38378H3E4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    777774 | PA      | $99065.48     | 0.07%             | 2042-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-53 OI          | CUSIP: 38378MVC6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    159033 | PA      | $18736.32     | 0.01%             | 2043-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-170 ID         | CUSIP: 38378U7B7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    326046 | PA      | $26013.76     | 0.02%             | 2040-02-20      | Floating      | 3.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2013-181 SA         | CUSIP: 38378YFA2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     77718 | PA      | $7257.54      | 0.01%             | 2043-11-20      | Floating      | 1.67%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2014-58 SA          | CUSIP: 38379BRL4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    165947 | PA      | $19597.97     | 0.01%             | 2044-04-20      | Floating      | 1.67%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2014-91 SB          | CUSIP: 38379CPE0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    290567 | PA      | $20724.69     | 0.02%             | 2044-06-16      | Floating      | 1.16%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2014-146 EI         | CUSIP: 38379GTZ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1244175 | PA      | $261940.30    | 0.20%             | 2044-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-36 MI          | CUSIP: 38379JA50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    256069 | PA      | $40675.67     | 0.03%             | 2045-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-64 SG          | CUSIP: 38379PD95<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    411094 | PA      | $41687.29     | 0.03%             | 2045-05-20      | Floating      | 1.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-144 SA         | CUSIP: 38379QD51<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    476752 | PA      | $61892.40     | 0.05%             | 2045-10-20      | Floating      | 1.77%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-9 SA           | CUSIP: 38379TA74<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    171765 | PA      | $19970.81     | 0.01%             | 2046-01-20      | Floating      | 1.67%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2015-179 BI         | CUSIP: 38379TAF6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    775740 | PA      | $49201.80     | 0.04%             | 2043-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-4 SM           | CUSIP: 38379TU80<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    406479 | PA      | $35133.55     | 0.03%             | 2046-01-20      | Floating      | 1.22%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-27 IA          | CUSIP: 38379VUJ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     66790 | PA      | $8648.64      | 0.01%             | 2045-06-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-84 IG          | CUSIP: 38379XGR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    277294 | PA      | $63961.99     | 0.05%             | 2045-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-81 IM          | CUSIP: 38379YPT9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |     58598 | PA      | $3344.13      | 0.00%             | 2044-10-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-121 JS         | CUSIP: 38380AZD2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    849524 | PA      | $113893.44    | 0.08%             | 2046-09-20      | Floating      | 1.67%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2016-145 UI         | CUSIP: 38380BHW8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    171347 | PA      | $30085.12     | 0.02%             | 2046-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2017-99 DI          | CUSIP: 38380F5B8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    202147 | PA      | $9214.42      | 0.01%             | 2045-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2019-H16 CI         | CUSIP: 38380LG23<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1927231 | PA      | $79317.11     | 0.06%             | 2069-10-20      | Floating      | 2.32%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2018-8 IO           | CUSIP: 38380UPT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    278885 | PA      | $55299.54     | 0.04%             | 2048-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2018-120 JI         | CUSIP: 38380YVE2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    160030 | PA      | $23157.41     | 0.02%             | 2048-09-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2018-154 IT         | CUSIP: 38381AWW2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    242581 | PA      | $44561.79     | 0.03%             | 2048-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2019-6 SA           | CUSIP: 38381BG65<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    433916 | PA      | $51019.98     | 0.04%             | 2049-01-20      | Floating      | 1.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2019-22 SA          | CUSIP: 38381RDX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    476329 | PA      | $48382.36     | 0.04%             | 2045-02-20      | Floating      | 1.17%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2020-47 MI          | CUSIP: 38382EDP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |   1269696 | PA      | $244359.53    | 0.18%             | 2050-04-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2020-86 TK          | CUSIP: 38382GCS9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |  17144577 | PA      | $87252.18     | 0.07%             | 2048-08-20      | Floating      | 0.15%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2020-167 NS         | CUSIP: 38382LBR1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    600092 | PA      | $87102.59     | 0.06%             | 2050-11-20      | Floating      | 1.87%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                        | GNR 2021-78 QI          | CUSIP: 38382TBW3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        |    464049 | PA      | $42807.49     | 0.03%             | 2034-05-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harley-Davidson Financial Services Inc.                         | HOG 3.35 06/08/25       | CUSIP: 41283LAY1<br>LEI: RLUFFFFW4GRYU77BTS24 | Long             | DBT              | CORP              | US        |    310000 | PA      | $309207.25    | 0.23%             | 2025-06-08      | Fixed         | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Icg Us Clo 2021-3 Ltd / Icg Us Clo 2021-3 Llc                   | ICG 2021-3A CR          | CUSIP: 449249AW1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $994026.00    | 0.74%             | 2034-10-20      | Floating      | 6.37%                 | Yes           |                  2 | On Loan: No      |
| ILFC E-Capital Trust I                                          | AER Float 12/21/65      | CUSIP: 44965TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $404519.15    | 0.30%             | 2065-12-21      | Floating      | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation | IEP 6 1/4 05/15/26      | CUSIP: 451102BT3<br>LEI: 549300T0G4GS0SINS786 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1047211.20   | 0.78%             | 2026-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| International Game Technology PLC                               | IGT 6 1/4 01/15/27      | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    837000 | PA      | $841377.51    | 0.63%             | 2027-01-15      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| International Game Technology PLC                               | IGT 5 1/4 01/15/29      | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $489327.80    | 0.37%             | 2029-01-15      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| International Game Technology PLC                               | IGT 4 1/8 04/15/26      | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    265000 | PA      | $262358.12    | 0.20%             | 2026-04-15      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| KeyBank National Association                                    | KEY 6.95 02/01/28       | CUSIP: 49306CAB7<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1055238.39   | 0.79%             | 2028-02-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| KeyCorp                                                         | KEY 5 PERP              | CUSIP: 493267AK4<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | DBT              | CORP              | US        |    440000 | PA      | $426305.09    | 0.32%             | 2049-12-29      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Las Vegas Sands Corp                                            | LVS 2.9 06/25/25        | CUSIP: 517834AH0<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    800000 | PA      | $796887.20    | 0.59%             | 2025-06-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| M&T Bank Corporation                                            | MTB 3 1/2 PERP          | CUSIP: 55261FAN4<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   1103000 | PA      | $1012043.64   | 0.76%             | 2173-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Manufacturers & Traders Trust Co.                               | MTB 4.65 01/27/26       | CUSIP: 55279HAV2<br>LEI: WWB2V0FCW3A0EE3ZJN75 | Long             | DBT              | CORP              | US        |    500000 | PA      | $499723.55    | 0.37%             | 2026-01-27      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VICI Properties 2 L.P.                                          | MGMGPO 5 3/4 02/01/27   | CUSIP: 55303XAJ4<br>LEI: 549300U6G4UOCMLQK204 | Long             | DBT              | CORP              | US        |    166000 | PA      | $167822.91    | 0.13%             | 2027-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding XLV Ltd/Llc                                | MDPK 2020-45A CRR       | CUSIP: 55820BAW7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1490986.50   | 1.11%             | 2034-07-15      | Floating      | 6.16%                 | Yes           |                  2 | On Loan: No      |
| Mountain View CLO IX Ltd.                                       | MVW 2015-9A CR          | CUSIP: 62432BAU7<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1998848.00   | 1.49%             | 2031-07-15      | Floating      | 7.64%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 03/09/26        | CUSIP: 654740BS7<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1257786.63   | 0.94%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 3/4 03/09/28    | CUSIP: 654740BT5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $959069.58    | 0.72%             | 2028-03-09      | Fixed         | 2.75%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 1.85 09/16/26     | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   2262000 | PA      | $2141476.48   | 1.60%             | 2026-09-16      | Fixed         | 1.85%                 | Yes           |                  2 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 5.3 09/13/27      | CUSIP: 65480CAG0<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    837000 | PA      | $820670.99    | 0.61%             | 2027-09-13      | Fixed         | 5.30%                 | Yes           |                  2 | On Loan: No      |
| Osd Clo 2021-23 Ltd/Llc                                         | OCP 2021-23A CR         | CUSIP: 671026AQ5<br>LEI: 2549004IE8HHQL34D058 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $985928.00    | 0.74%             | 2037-01-17      | Floating      | 5.98%                 | Yes           |                  2 | On Loan: No      |
| Ozlm Xxiv Ltd / LLC                                             | OZLM 2019-24A C2        | CUSIP: 67113DAS3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2150000 | PA      | $2098344.53   | 1.57%             | 2032-07-20      | Floating      | 8.79%                 | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners 32 Ltd.                             | OCT32 2017-1A A2R3      | CUSIP: 67573CAU3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $994468.00    | 0.74%             | 2037-10-31      | Floating      | 5.86%                 | Yes           |                  2 | On Loan: No      |
| Octagon Invt Partners 46 Ltd /  Llc                             | OCT46 2020-2A DR        | CUSIP: 67577VAS2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $995463.00    | 0.74%             | 2036-07-15      | Floating      | 7.82%                 | Yes           |                  2 | On Loan: No      |
| OneMain Financial Corporation                                   | OMF 3 1/2 01/15/27      | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    135000 | PA      | $129352.55    | 0.10%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group Inc.                               | PNC 3.4 PERP            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    625000 | PA      | $589643.88    | 0.44%             | 2172-12-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| PENN Entertainment Inc                                          | PENN 5 5/8 01/15/27     | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1134000 | PA      | $1117144.34   | 0.83%             | 2027-01-15      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Penske Automotive Group, Inc.                                   | PAG 3 1/2 09/01/25      | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |   1605000 | PA      | $1594153.25   | 1.19%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                            | RY 8 1/2 02/28/39       | CUSIP: 78014RTB6<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    352000 | PA      | $362886.98    | 0.27%             | 2039-02-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation                                  | SCHW 4 PERP             | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1505082.18   | 1.12%             | 2169-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Light & Wonder International Inc.                               | SGMS 7 05/15/28         | CUSIP: 80874YBC3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    500000 | PA      | $500558.00    | 0.37%             | 2028-05-15      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Light & Wonder International Inc.                               | SGMS 7 1/4 11/15/29     | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    262000 | PA      | $267018.09    | 0.20%             | 2029-11-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Shackleton 2014-V-R Clo Ltd / Llc                               | SHACK 2014-5RA D        | CUSIP: 81881JAJ1<br>LEI: 549300OM5GJJFIKCOZ48 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1743213.50   | 1.30%             | 2031-05-07      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 4 3/4 11/24/25   | CUSIP: 83367TBR9<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    175000 | PA      | $174616.77    | 0.13%             | 2025-11-24      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 4 1/4 08/19/26   | CUSIP: 83368JKF6<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    525000 | PA      | $520543.95    | 0.39%             | 2026-08-19      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 2.797 01/19/28   | CUSIP: 83368RBH4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $482292.46    | 0.36%             | 2028-01-19      | Fixed         | 2.80%                 | Yes           |                  2 | On Loan: No      |
| Southern Co.                                                    | SO 3 3/4 09/15/51       | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1212200.28   | 0.90%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Station Casinos LLC                                             | RRR 4 1/2 02/15/28      | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1255358.39   | 0.94%             | 2028-02-15      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Synchrony Financial                                             | SYF 4 1/2 07/23/25      | CUSIP: 87165BAG8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    750000 | PA      | $748812.47    | 0.56%             | 2025-07-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Synchrony Financial                                             | SYF 3.7 08/04/26        | CUSIP: 87165BAL7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244735.98    | 0.18%             | 2026-08-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Tcw Clo                                                         | TCW 2017-1A A2R3        | CUSIP: 87240NBJ4<br>LEI: 549300BD6SSD2EBMCC95 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $993059.00    | 0.74%             | 2034-10-29      | Floating      | 5.77%                 | Yes           |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 3.15 10/01/26      | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1113000 | PA      | $1077274.15   | 0.80%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 6 3/4 03/01/28     | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    500000 | PA      | $511989.00    | 0.38%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III B.V.                | TEVA 4 3/4 05/09/27     | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1800000 | PA      | $1768692.42   | 1.32%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Warner Media LLC                                                | TWX 2.95 07/15/26       | CUSIP: 887317BA2<br>LEI: 5493004RSX004WU3UT62 | Long             | DBT              | CORP              | US        |    125000 | PA      | $121350.25    | 0.09%             | 2026-07-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                                    | UBS 4.488 05/12/26      | CUSIP: 902613AM0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    750000 | PA      | $749860.78    | 0.56%             | 2026-05-12      | Fixed         | 4.49%                 | Yes           |                  2 | On Loan: No      |
| United Air Lines, Inc.                                          | UAL 4 3/8 04/15/26      | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |    380000 | PA      | $374685.33    | 0.28%             | 2026-04-15      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury Bills                                    | B 09/11/25              | CUSIP: 912797PW1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2954433.66   | 2.20%             | 2025-09-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Venture XV CLO Ltd.                                             | VENTR 2013-15A DR2      | CUSIP: 92328XAZ2<br>LEI: 549300UYHZCJPN3LMT03 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1977263.20   | 1.48%             | 2032-07-15      | Floating      | 8.44%                 | Yes           |                  2 | On Loan: No      |
| Vici Properties Inc                                             | VICI 4 1/4 12/01/26     | CUSIP: 92564RAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $495329.45    | 0.37%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                         | VW 4 3/4 11/13/28       | CUSIP: 928668AU6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $494811.92    | 0.37%             | 2028-11-13      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                         | VW 5.65 09/12/28        | CUSIP: 928668BW1<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $509202.11    | 0.38%             | 2028-09-12      | Fixed         | 5.65%                 | Yes           |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                         | VW 5.4 03/20/26         | CUSIP: 928668CE0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502251.27    | 0.37%             | 2026-03-20      | Fixed         | 5.40%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                                               | WFC 3.9 PERP            | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $982524.85    | 0.73%             | 2169-03-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| ZAIS CLO 18 LTD                                                 | ZAIS 2022-18A D1        | CUSIP: 98885NAL7<br>LEI: 549300PRQCSTFU7VEI08 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $991153.00    | 0.74%             | 2035-01-25      | Floating      | 8.95%                 | Yes           |                  2 | On Loan: No      |
| Cornerstone OnDemand                                            | CSOD TL B 1L USD        | CUSIP: 86803YAB9<br>LEI: 549300Z402F16H5EGH48 | Long             | LON              | CORP              | US        |   1212500 | PA      | $1079125.00   | 0.81%             | 2028-09-21      | Variable      | 8.19%                 | No            |                  2 | On Loan: No      |
| Aramark                                                         | ARMK TL B7 1L USD       | CUSIP: 03852JAU5<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |    876858 | PA      | $880036.23    | 0.66%             | 2028-04-06      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Aramark                                                         | ARMK TL B8 1L USD       | CUSIP: 03852JAV3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | LON              | CORP              | US        |   1481250 | PA      | $1483560.75   | 1.11%             | 2030-06-24      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| Restaurant Brands International                                 | BCULC TL B5 1L USD      | CUSIP: C6901LAM9<br>LEI: 549300RHSHNRWI5LLA86 | Long             | LON              | CORP              | US        |    990019 | PA      | $982207.50    | 0.73%             | 2030-09-23      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| Light & Wonder (Scientific Games)                               | LNW TL B 1L USD         | CUSIP: 80875AAW1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | LON              | CORP              | US        |    990656 | PA      | $991072.27    | 0.74%             | 2029-04-16      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| United Airlines                                                 | UAL TL B 1L USD         | CUSIP: 90932RAP9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1661608 | PA      | $1659796.89   | 1.24%             | 2031-02-24      | Variable      | 6.28%                 | No            |                  2 | On Loan: No      |
| Air Canada                                                      | ACACN TL B 1L USD       | CUSIP: N/A<br>LEI: 4B4HI3CGXMBDC0G6BM51       | Long             | LON              | CORP              | US        |   1980000 | PA      | $1960407.90   | 1.46%             | 2031-03-21      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment Inc                                       | CZR TL B1 1L USD        | CUSIP: N/A<br>LEI: 549300FA4CTCW903Y781       | Long             | LON              | CORP              | US        |    990000 | PA      | $976387.50    | 0.73%             | 2031-02-06      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| Penn Entertainment (fka Penn National Gaming)                   | PENN TL B 1L USD        | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    498721 | PA      | $497818.54    | 0.37%             | 2029-05-03      | Variable      | 6.82%                 | No            |                  2 | On Loan: No      |
| MKS Instruments                                                 | MKSI TL B 1L USD        | CUSIP: 55314NAZ7<br>LEI: 549300KEQATBHAGVF505 | Long             | LON              | CORP              | US        |   1109442 | PA      | $1104171.88   | 0.82%             | 2029-08-17      | Variable      | 6.32%                 | No            |                  2 | On Loan: No      |
| Great American Outdoors (Bass Pro Shops)                        | BASSPR TL B 1L USD      | CUSIP: 07014QAP6<br>LEI: 549300IYLDI2E8I2AU46 | Long             | LON              | CORP              | US        |   1947352 | PA      | $1908892.03   | 1.42%             | 2032-01-16      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| American Airlines                                               | AAL TL B 1L USD         | CUSIP: 02376CBS3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1150000 | PA      | $1128178.75   | 0.84%             | 2028-04-20      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| Credit Agricole S.A.                                            | ACAFP 4 3/4 PERP        | CUSIP: F2R125CJ2<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $906787.40    | 0.68%             | 2174-03-23      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Societe Generale S.A.                                           | SOCGEN 5 3/8 PERP       | CUSIP: F8500RAA0<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1000000 | PA      | $875654.50    | 0.65%             | 2173-05-18      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                          | US 5YR NOTE (CBT) Jun25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        15 | NC      | $34101.58     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lloyds Banking Group PLC                                        | LLOYDS 4.582 12/10/25   | CUSIP: G5533WBU0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $199496.93    | 0.15%             | 2025-12-10      | Fixed         | 4.58%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                          | US 10YR NOTE (CBT)Jun25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        15 | NC      | $37734.37     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Acceptance Co LLC                                  | NSANY 2 03/09/26        | CUSIP: U65478BU9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    723000 | PA      | $699522.87    | 0.52%             | 2026-03-09      | Fixed         | 2.00%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                          | US LONG BOND(CBT) Jun25 | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | Long             | DIR              | CORP              | US        |        15 | NC      | $10312.50     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-28

**Name of Applicant:** Two Roads Shared Trust

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer