# EDGAR Filing Document

**Accession Number:** 0001552947
**File Stem:** 0000910472-25-005938
**Filing Date:** 2025-12
**Character Count:** 52108
**Document Hash:** af7338808084f5d7a989d66643a1642c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005938.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0000910472-25-005938

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260430

**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:** 251603381

**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

### Holbrook Structured Income Fund (Series ID: S000075330)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000234270 | Holbrook Structured Income Fund Investor Class |  |
| C000234271 | Holbrook Structured Income Fund Class A        |  |
| C000234272 | Holbrook Structured Income Fund Class I        |  |

## 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:** Holbrook Structured Credit Income Fund

- **b. EDGAR series identifier (if any):** S000075330

- **c. LEI of Series:** 549300VN9LSTDZVMEG10

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

- **a. Date of fiscal year-end:** 2026-04-30

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $514967587.20

**Total Liabilities:** $3340673.10

**Net Assets:** $511626914.10

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 523.56023800 | **1-Year:** 9997.64439700 | **5-Year:** 65660.71498700 | **10-Year:** 11182.60528000 | **30-Year:** 4639.54919500

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

- **3-Month:** 11809.46966700 | **1-Year:** 13003.50647100 | **5-Year:** 4513.09169400 | **10-Year:** 754.54684600 | **30-Year:** 2195.42411800

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000234270 | 0.59%                | 0.57%                | 0.50%                |
| Class ID C000234271 | 0.61%                | 0.59%                | 0.42%                |
| Class ID C000234272 | 0.63%                | 0.62%                | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-43355.57               | $533510.10                                 |
| Month 2  | $378875.31               | $-330612.64                                |
| Month 3  | $-8778.08                | $-453781.59                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Symphony Clo XV LLC                                             | SYMP 2014-15A DR2  | CUSIP: 87154EBA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4750000 | PA      | $4767177.90   | 0.93%             | 2032-01-17      | Floating      | 8.14%                 | Yes           |                  2 | On Loan: No      |
| Comm 2015-CCRE23 Mortgage Trust                                 | COMM 2014-CR21 F   | CUSIP: 12592RAQ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4935643.00   | 0.96%             | 2047-12-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD          | FHR 5438 H         | CUSIP: 3137HFDS1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    777954 | PA      | $781660.46    | 0.15%             | 2050-06-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MFA 2024-NQM2 TRUST                                             | MFRA 2024-NQM2 A1  | CUSIP: 58004JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    850128 | PA      | $850938.40    | 0.17%             | 2069-08-25      | Floating      | 5.27%                 | Yes           |                  2 | On Loan: No      |
| PRKCM TRUST 2023-AFC3                                           | PRKCM 2023-AFC3 A1 | CUSIP: 693984AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1178257 | PA      | $1188198.57   | 0.23%             | 2058-09-25      | Fixed         | 6.58%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Loan Fund X Ltd/Llc                                | ATCLO 2018-10A D   | CUSIP: 04942JAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9240000 | PA      | $9259893.72   | 1.81%             | 2031-01-15      | Floating      | 6.92%                 | Yes           |                  2 | On Loan: No      |
| Cedar Funding V Clo Ltd                                         | CEDF 2016-5A DR    | CUSIP: 15032AAW7<br>LEI: 635400NWFWJ92O7QGD64 | Long             | ABS-CBDO         | NUSS              | KY        |   1500000 | PA      | $1494880.50   | 0.29%             | 2031-07-17      | Floating      | 7.14%                 | Yes           |                  2 | On Loan: No      |
| Lcm XXIII Ltd/ Lcm XXIII Llc                                    | LCM 23A CR         | CUSIP: 52111PAM3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2160156 | PA      | $2160944.02   | 0.42%             | 2029-10-20      | Floating      | 7.45%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Loan Fund XII Ltd.                                 | ATCLO 2018-12A D   | CUSIP: 04942UAL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5007870.00   | 0.98%             | 2031-10-24      | Floating      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                              | BX 2019-IMC G      | CUSIP: 05608BAS9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    196000 | PA      | $189442.51    | 0.04%             | 2034-04-15      | Floating      | 7.68%                 | Yes           |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST 2023-NQM2                                    | ADMT 2023-NQM2 A1  | CUSIP: 00002DAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1449570 | PA      | $1454610.98   | 0.28%             | 2068-05-25      | Floating      | 6.13%                 | Yes           |                  2 | On Loan: No      |
| KKR CLO 10 Ltd.                                                 | KKR 10 DR          | CUSIP: 48250GAW0<br>LEI: 549300N7FISC1W1QKR21 | Long             | ABS-CBDO         | CORP              | KY        |   1775000 | PA      | $1777034.15   | 0.35%             | 2029-09-15      | Floating      | 7.65%                 | Yes           |                  2 | On Loan: No      |
| 1828 CLO Ltd/LLC                                                | GUGG4 2016-1A CR   | CUSIP: 282523BF5<br>LEI: 549300TR3WW6GC2PC544 | Long             | ABS-CBDO         | CORP              | KY        |    495000 | PA      | $496344.92    | 0.10%             | 2031-10-15      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| Ozlm XXI Ltd.                                                   | OZLM 2018-20A C    | CUSIP: 67112MAG0<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | US        |   7000000 | PA      | $7009954.00   | 1.37%             | 2031-04-20      | Floating      | 7.10%                 | Yes           |                  2 | On Loan: No      |
| Rockford Tower Clo 2018-1 Ltd/ Llc                              | ROCKT 2018-1A D    | CUSIP: 77342JAG8<br>LEI: 549300KPFGDIQ0PMP224 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5013200.00   | 0.98%             | 2031-05-20      | Floating      | 7.47%                 | Yes           |                  2 | On Loan: No      |
| X-CALI MORTGAGE TRUST 2021-10                                   | XCALI 2021-10 B1   | CUSIP: 98372NAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    471250 | PA      | $477982.75    | 0.09%             | 2025-12-25      | Floating      | 12.25%                | Yes           |                  2 | On Loan: No      |
| HOMES 2025-AFC1 TRUST                                           | HOMES 2025-AFC1 A1 | CUSIP: 403969AC2<br>LEI: 2549006ZK3R8WZLA9S73 | Long             | ABS-O            | CORP              | US        |   2517346 | PA      | $2538842.33   | 0.50%             | 2060-01-25      | Floating      | 5.73%                 | Yes           |                  2 | On Loan: No      |
| CIFC Funding 2011-I Ltd.                                        | CIFC 2013-2A B1LR  | CUSIP: 12549BAW8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    625000 | PA      | $626378.75    | 0.12%             | 2030-10-18      | Floating      | 7.20%                 | Yes           |                  2 | On Loan: No      |
| PRPM 2025-NQM2 TRUST                                            | PRPM 2025-NQM2 A1  | CUSIP: 693983AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1822372 | PA      | $1836192.48   | 0.36%             | 2070-04-25      | Floating      | 5.69%                 | Yes           |                  2 | On Loan: No      |
| Wind River 2014-3 Clo LLC                                       | WINDR 2014-3A DR2  | CUSIP: 88432DBL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   4750000 | PA      | $4756118.00   | 0.93%             | 2031-10-22      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| CIFC Funding 2012-III Ltd.                                      | CIFC 2017-4A CR    | CUSIP: 12551JAS5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   9000000 | PA      | $9002205.00   | 1.76%             | 2030-10-24      | Floating      | 7.28%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2024-OPAL B1  | CUSIP: 98373XBT6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2450000 | PA      | $2444830.75   | 0.48%             | 2026-02-25      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| Sound Point  Clo Xvi Limited                                    | SNDPT 2017-2A D    | CUSIP: 83610KAG8<br>LEI: 549300ZK5CJ7PM7YBH85 | Long             | ABS-CBDO         | CORP              | KY        |  22500000 | PA      | $22561560.00  | 4.41%             | 2030-07-25      | Floating      | 7.72%                 | Yes           |                  2 | On Loan: No      |
| Highbridge Loan Management 2 2013 Ltd.                          | HLM 2013-2A CR     | CUSIP: 44330DAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   7500000 | PA      | $7499940.00   | 1.47%             | 2029-10-20      | Floating      | 7.05%                 | Yes           |                  2 | On Loan: No      |
| Hudson's Bay Simon JV Trust                                     | HBCT 2015-HB10 C10 | CUSIP: 44422PBY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1070000 | PA      | $1055552.54   | 0.21%             | 2034-08-05      | Floating      | 5.45%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL FUNDING MORTGAGE TRUST-029                              | CFGMS 2024-29 B    | CUSIP: 14022JAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4004059.60   | 0.78%             | 2026-11-01      | Floating      | 13.63%                | Yes           |                  2 | On Loan: No      |
| SMR MORTGAGE TRUST 2022-IND                                     | SMR 2022-IND D     | CUSIP: 78458MAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2289193 | PA      | $2310740.57   | 0.45%             | 2039-02-15      | Floating      | 7.98%                 | Yes           |                  2 | On Loan: No      |
| First American Funds Inc.                                       | FRST AM-GV OB-X    | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  10632584 | PA      | $10632583.98  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ozlm Xvii Limited                                               | OZLM 2017-17A C    | CUSIP: 67111NAJ3<br>LEI: 549300EERMFPZ487P195 | Long             | ABS-CBDO         | CORP              | US        |   2115000 | PA      | $2118225.38   | 0.41%             | 2030-07-20      | Floating      | 7.61%                 | Yes           |                  2 | On Loan: No      |
| Allegro VII Clo Ltd                                             | ALLEG 2018-1A D    | CUSIP: 01750CAJ2<br>LEI: 635400EBXLHIKFL2MP73 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1500766.50   | 0.29%             | 2031-06-13      | Floating      | 7.02%                 | Yes           |                  2 | On Loan: No      |
| BXHPP LTD                                                       | BXHPP 2021-FILM A  | CUSIP: 05609JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  24000000 | PA      | $23273558.40  | 4.55%             | 2036-08-15      | Floating      | 4.80%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY CAPTAL 24-BPR2                                   | MSC 2024-BPR2 E    | CUSIP: 61776EAL7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $5836215.60   | 1.14%             | 2029-05-05      | Floating      | 8.75%                 | Yes           |                  2 | On Loan: No      |
| VERUS SEC TR 2023-4                                             | VERUS 2023-4 A1    | CUSIP: 92539TAA1<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-O            | CORP              | US        |    231090 | PA      | $231768.59    | 0.05%             | 2068-05-25      | Floating      | 5.81%                 | Yes           |                  2 | On Loan: No      |
| REACH ABS TRUST 2023-1                                          | REACH 2024-1A A    | CUSIP: 75526PAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     28769 | PA      | $28786.62     | 0.01%             | 2031-02-18      | Fixed         | 6.30%                 | Yes           |                  2 | On Loan: No      |
| Thl Credit Wr 2014-3K Clo Ltd                                   | WINDR 2014-3KRA D  | CUSIP: 88390BAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10000000 | PA      | $10018340.00  | 1.96%             | 2030-10-15      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2024-MSD B1   | CUSIP: 98373XBX7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1748750 | PA      | $1748129.19   | 0.34%             | 2027-01-25      | Floating      | 10.13%                | Yes           |                  2 | On Loan: No      |
| Voya CLO Limited                                                | VOYA 2017-1A C     | CUSIP: 92916MAD3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8859895 | PA      | $8888441.58   | 1.74%             | 2030-04-17      | Floating      | 7.47%                 | Yes           |                  2 | On Loan: No      |
| Newark BSL CLO 2 Ltd                                            | NBCLO 2017-1A CR   | CUSIP: 65023PAU4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001742.00   | 0.20%             | 2030-07-25      | Floating      | 7.27%                 | Yes           |                  2 | On Loan: No      |
| Csmc Coml Mtg Tr 2016-Nxsr                                      | CSMC 2016-NXSR XA  | CUSIP: 12594PAX9<br>LEI: 549300XMRV4C4QGBZZ20 | Long             | ABS-O            | CORP              | US        |   3887075 | PA      | $11129.86     | 0.00%             | 2049-12-15      | Floating      | 0.63%                 | No            |                  2 | On Loan: No      |
| HARVEST SBA LOAN TRUST 2024-1                                   | HSLT 2024-1 B      | CUSIP: 41756NAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1411870 | PA      | $1419737.61   | 0.28%             | 2051-12-25      | Floating      | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Dryden 37 Senior Loan Fund                                      | DRSLF 2017-54A D   | CUSIP: 26244RAD3<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |    300000 | PA      | $300755.40    | 0.06%             | 2029-10-19      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| BAHA TRUST 2024-MAR                                             | BAHA 2024-MAR D    | CUSIP: 05493XAJ9<br>LEI: XLEZHWWOI4HFQDGL4793 | Long             | ABS-O            | CORP              | US        |  14400000 | PA      | $15121802.88  | 2.96%             | 2041-12-10      | Floating      | 8.91%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCALFD 25 09/01/25 | CUSIP: 98373XAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $300000.00    | 0.06%             | 2026-03-31      | Fixed         | 25.00%                | Yes           |                  2 | On Loan: No      |
| Two Roads Shared Trust                                          | HOLBROOK T R F-I   | CUSIP: 90214Q493<br>LEI: 549300REHU8QC2CK4V30 | Long             | EC               | RF                | US        |   1000000 | NS      | $10056100.00  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Dryden 50 Senior Loan Fund & LLC                                | DRSLF 2017-49A DR  | CUSIP: 26244QAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3250000 | PA      | $3253721.25   | 0.64%             | 2030-07-18      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| Ozlm XXI Ltd. / Ozlm XXI LLC                                    | OZLM 2017-21A C    | CUSIP: 67112AAG6<br>LEI: 5493002HF6D1C4B1AK86 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1503523.50   | 0.29%             | 2031-01-20      | Floating      | 6.82%                 | Yes           |                  2 | On Loan: No      |
| ONITY LN INVT TR 2024-HB2                                       | OLIT 2024-HB2 M3   | CUSIP: 68278DAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    600000 | PA      | $586858.26    | 0.11%             | 2037-08-25      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| ONITY LN INVT TR 2024-HB2                                       | OLIT 2024-HB2 M4   | CUSIP: 68278DAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1250000 | PA      | $1199665.25   | 0.23%             | 2037-08-25      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| LUXURY LEASE PT AUTO 2021-ARC2                                  | LLP 2024-4 B       | CUSIP: 55068XAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    538000 | PA      | $537710.88    | 0.11%             | 2030-07-15      | Fixed         | 10.49%                | Yes           |                  2 | On Loan: No      |
| Canyon Capital Clo Ltd.                                         | CANYC 2012-1RA D   | CUSIP: 13876JAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   8055000 | PA      | $8069104.31   | 1.58%             | 2030-07-15      | Floating      | 7.17%                 | Yes           |                  2 | On Loan: No      |
| Elevation Clo 2017-8 LTD/Elevation Clo 2017-8 LLC               | AWPT 2017-8A D     | CUSIP: 28622VAJ9<br>LEI: 549300OBPZDY731NEI33 | Long             | ABS-CBDO         | CORP              | KY        |   5260000 | PA      | $5279430.44   | 1.03%             | 2030-10-25      | Floating      | 6.99%                 | Yes           |                  2 | On Loan: No      |
| Shackleton 2015-VII-R CLO Ltd.                                  | SHACK 2015-7RA DRR | CUSIP: 81883AAY5<br>LEI: 549300NCJRO2LKFZ8G86 | Long             | ABS-CBDO         | CORP              | KY        |   5000000 | PA      | $5006365.00   | 0.98%             | 2031-07-15      | Floating      | 6.90%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL FUNDING MORTGAGE TRUST -031                             | CFGMS 2025-31 B    | CUSIP: 14023CAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11233861 | PA      | $11282522.72  | 2.21%             | 2028-02-10      | Floating      | 17.55%                | Yes           |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                              | BX 2019-IMC F      | CUSIP: 05608BAQ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4874210.50   | 0.95%             | 2034-04-15      | Floating      | 6.98%                 | Yes           |                  2 | On Loan: No      |
| JP MRGN CHASE COM TR 2020                                       | JPMCC 2020-NNN DFX | CUSIP: 46652BBJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    880000 | PA      | $369617.60    | 0.07%             | 2037-01-16      | Fixed         | 3.62%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY CAPTAL 24-BPR2                                   | MSC 2024-BPR2 C    | CUSIP: 61776EAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8500000 | PA      | $8866077.15   | 1.73%             | 2029-05-05      | Floating      | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Comm 2015-CCRE23 Mortgage Trust                                 | COMM 2014-CR21 E   | CUSIP: 12592RAN9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    590367 | PA      | $583473.17    | 0.11%             | 2047-12-10      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL FUNDING MORTGAGE TRUST P-0                              | CFGMS 2025-P05 B   | CUSIP: 139917AB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2503200 | PA      | $2508722.31   | 0.49%             | 2026-08-04      | Floating      | 14.63%                | No            |                  2 | On Loan: No      |
| Shackleton 2017-XI CLO Ltd./LLC                                 | SHACK 2017-11A D   | CUSIP: 81883EAD3<br>LEI: 549300S19P71XFXC3657 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4007520.00   | 0.78%             | 2030-08-15      | Floating      | 8.12%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2025-AB3 LLC                                               | CFMT 2025-AB3 M3   | CUSIP: 15723JAE2<br>LEI: 984500B0B47A6AEABC92 | Long             | ABS-O            | CORP              | US        |   2583026 | PA      | $2229688.94   | 0.44%             | 2055-05-25      | Floating      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| XCAL MTG TR 2021-7                                              | XCAL 2021-7 A      | CUSIP: 98370NAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5200000 | PA      | $5181016.36   | 1.01%             | 2026-01-06      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2025-AB3 LLC                                               | CFMT 2025-AB3 M4   | CUSIP: 15723JAF9<br>LEI: 984500B0B47A6AEABC92 | Long             | ABS-O            | CORP              | US        |   1663266 | PA      | $1298849.20   | 0.25%             | 2055-05-25      | Floating      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB14 LLC                                              | CFMT 2024-HB14 M3  | CUSIP: 12530XAD3<br>LEI: 9845005986F840FBE847 | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1908912.80   | 0.37%             | 2034-06-25      | Floating      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BXHPP LTD                                                       | BXHPP 2021-FILM B  | CUSIP: 05609JAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2828311.20   | 0.55%             | 2036-08-15      | Floating      | 5.05%                 | Yes           |                  2 | On Loan: No      |
| CAPITAL FUNDING MORTGAGE TRUST- 033                             | CFGMS 2025-33 B    | CUSIP: 14022HAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4750000 | PA      | $4750000.00   | 0.93%             | 2029-10-31      | Floating      | 12.50%                | Yes           |                  2 | On Loan: No      |
| CIM TRUST 2023-R3                                               | CIM 2023-R3 A1B    | CUSIP: 12570GAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1621384.60   | 0.32%             | 2063-01-25      | Floating      | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2024-63 HA     | CUSIP: 3136BSRA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   1374047 | PA      | $1381467.95   | 0.27%             | 2052-06-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Crown Point CLO 7 LTD/LLC                                       | CRNPT 2018-7A D    | CUSIP: 22846MAG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4010276.00   | 0.78%             | 2031-10-20      | Floating      | 7.65%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage                                 | WFCM 2015-C29 D    | CUSIP: 94989KBC6<br>LEI: 549300NYO16WLNMVJJ46 | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4397465.70   | 0.86%             | 2048-06-15      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| CAPITAL FUNDING MORTGAGE TRUST-030                              | CFGMS 2025-30 B    | CUSIP: 14017XAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4533509.70   | 0.89%             | 2028-06-02      | Floating      | 15.39%                | Yes           |                  2 | On Loan: No      |
| Hps Loan Management 3-2014 Ltd & Hps Loan Management 3-2014 Llc | HLM 3A-2014 CR     | CUSIP: 40436XAJ6<br>LEI: 5493006ZY0SLETMEU160 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1005051.00   | 0.20%             | 2029-07-18      | Floating      | 7.75%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Secured Loan Fund VIII Ltd/Llc                     | ATCLO 2017-8A C    | CUSIP: 04943AAG4<br>LEI: 2549008VGBH29LRDN709 | Long             | ABS-CBDO         | CORP              | KY        |    449642 | PA      | $450508.56    | 0.09%             | 2030-01-16      | Floating      | 6.71%                 | Yes           |                  2 | On Loan: No      |
| Venture 36 Clo Ltd.                                             | VENTR 2014-18A DR  | CUSIP: 92329FAV9<br>LEI: 549300AZL7IWJJ04HD37 | Long             | ABS-CBDO         | CORP              | KY        |   2953432 | PA      | $2955661.47   | 0.58%             | 2029-10-15      | Floating      | 7.27%                 | Yes           |                  2 | On Loan: No      |
| PPM Clo 2018 LTD                                                | PPMC 2018-1A D     | CUSIP: 69355DAG2<br>LEI: 549300NI5BL19ELU5U14 | Long             | ABS-CBDO         | CORP              | KY        |   9950000 | PA      | $10027321.45  | 1.96%             | 2031-07-15      | Floating      | 7.42%                 | Yes           |                  2 | On Loan: No      |
| Zais Clo 7 Ltd                                                  | ZAIS7 2017-2A D    | CUSIP: 98887VAG8<br>LEI: 549300XFDOUEB0QTZS87 | Long             | ABS-CBDO         | CORP              | IE        |   7000000 | PA      | $7003969.00   | 1.37%             | 2030-04-15      | Floating      | 7.92%                 | Yes           |                  2 | On Loan: No      |
| Saranac CLO VII Ltd.                                            | SRANC 2014-2A DR   | CUSIP: 80317EAL3<br>LEI: 5493000RC2FP2JRHW627 | Long             | ABS-CBDO         | CORP              | JE        |  11000000 | PA      | $11044220.00  | 2.16%             | 2029-11-20      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| ONITY LOAN INVESTMENT TRUST 2025-HB1                            | OLIT 2025-HB1 M3   | CUSIP: 68278EAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $1840679.40   | 0.36%             | 2038-06-25      | Floating      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB13 LLC                                              | CFMT 2024-HB13 M3  | CUSIP: 12530VAD7<br>LEI: 984500D67D63D8645054 | Long             | ABS-O            | CORP              | US        |    440000 | PA      | $418564.34    | 0.08%             | 2034-05-25      | Floating      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Trinitas Clo VIII Ltd.                                          | TRNTS 2018-8A D    | CUSIP: 89642RAG2<br>LEI: 5493000JXST1RIX07H55 | Long             | ABS-CBDO         | CORP              | KY        |   5250000 | PA      | $5257890.75   | 1.03%             | 2031-07-20      | Floating      | 7.25%                 | Yes           |                  2 | On Loan: No      |
| MORGAN STANLEY CAPTAL 24-BPR2                                   | MSC 2024-BPR2 D    | CUSIP: 61776EAJ2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7500000 | PA      | $7567944.00   | 1.48%             | 2029-05-05      | Floating      | 8.75%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TR 2025-3                                  | VERUS 2025-3 A1    | CUSIP: 924928AA2<br>LEI: 213800DYYV3EM7TSTN14 | Long             | ABS-O            | CORP              | US        |    916524 | PA      | $928712.76    | 0.18%             | 2070-05-25      | Floating      | 5.62%                 | Yes           |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Securities Corp.            | JPMCC 2018-PTC A   | CUSIP: 46649GAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7000000 | PA      | $3359370.00   | 0.66%             | 2031-04-15      | Floating      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| ZAIS CLO 13 LTD                                                 | ZAIS 2019-13A D1   | CUSIP: 98876NAL8<br>LEI: 549300GODB02F7ODZK39 | Long             | ABS-CBDO         | CORP              | KY        |   6580000 | PA      | $6573749.00   | 1.28%             | 2032-07-15      | Floating      | 8.69%                 | Yes           |                  2 | On Loan: No      |
| OCWEN LN INVESTMNT TR2024-HB1                                   | OLIT 2024-HB1 M3   | CUSIP: 675952AD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1400000 | PA      | $1343821.08   | 0.26%             | 2037-02-25      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                              | BX 2021-ARIA D     | CUSIP: 05608RAJ4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1760000 | PA      | $1758124.37   | 0.34%             | 2036-10-15      | Floating      | 6.04%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2024-11 BK     | CUSIP: 3136BRFK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    376861 | PA      | $376089.68    | 0.07%             | 2051-02-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Catamaran CLO Ltd. 2014-1 Ltd.                                  | CRMN 2014-1A CR    | CUSIP: 14889DAS7<br>LEI: 549300C8Q7ISEHHDRH76 | Long             | ABS-CBDO         | CORP              | KY        |  15455000 | PA      | $15530621.32  | 3.04%             | 2030-04-22      | Floating      | 7.55%                 | Yes           |                  2 | On Loan: No      |
| Federal National Mortgage Association                           | FNR 2025-6 DL      | CUSIP: 3136BUUF5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |   2317374 | PA      | $1309733.90   | 0.26%             | 2053-04-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCALFD 11 03/01/25 | CUSIP: 98373XAY6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2654000 | PA      | $2652407.07   | 0.52%             | 2026-03-25      | Fixed         | 11.00%                | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2023-HOAKS A  | CUSIP: 98373XBG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4600000 | PA      | $4585397.76   | 0.90%             | 2026-04-25      | Floating      | 7.63%                 | Yes           |                  2 | On Loan: No      |
| Trinitas Clo Ix Ltd/Llc                                         | TRNTS 2018-9A D    | CUSIP: 89641JAG1<br>LEI: 549300QFERVNPGSISO16 | Long             | ABS-CBDO         | CORP              | KY        |  12000000 | PA      | $12063408.00  | 2.36%             | 2032-01-20      | Floating      | 7.60%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCALFD 11 09/01/24 | CUSIP: 98373XAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $497775.60    | 0.10%             | 2026-03-31      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Secured Loan Fund VIII Ltd/Llc                     | ATCLO 2017-8A D    | CUSIP: 04943AAJ8<br>LEI: 2549008VGBH29LRDN709 | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4019516.00   | 0.79%             | 2030-01-16      | Floating      | 7.86%                 | Yes           |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust 2022-NQM3                       | BRAVO 2025-NQM2 A1 | CUSIP: 10569NAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2718441 | PA      | $2742135.30   | 0.54%             | 2064-11-25      | Floating      | 5.68%                 | Yes           |                  2 | On Loan: No      |
| Steele Creek Clo 2017 1 Ltd                                     | STCR 2017-1A D     | CUSIP: 85816VAD8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6006250 | PA      | $6007715.53   | 1.17%             | 2030-10-15      | Floating      | 7.07%                 | Yes           |                  2 | On Loan: No      |
| Carlyle Global Market Strategies CLO 2014-3 Ltd.                | CGMS 2015-1A DR3   | CUSIP: 14311DBU9<br>LEI: 549300KW8WXBEPNZQZ89 | Long             | ABS-CBDO         | CORP              | KY        |  11995000 | PA      | $12046770.42  | 2.35%             | 2031-07-20      | Floating      | 7.10%                 | Yes           |                  2 | On Loan: No      |
| GSMS 2024-FAIR                                                  | GSMS 2024-FAIR D   | CUSIP: 36270JAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4270000 | PA      | $4406034.51   | 0.86%             | 2029-07-15      | Floating      | 7.95%                 | Yes           |                  2 | On Loan: No      |
| CSMC 2021-GATE                                                  | CSMC 2021-GATE C   | CUSIP: 12662UAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2936001.00   | 0.57%             | 2036-12-15      | Floating      | 6.85%                 | Yes           |                  2 | On Loan: No      |
| ELLINGTON CLO LTD 2017-1R                                       | ECLO 2017-1A DR    | CUSIP: 28851QAL7<br>LEI: 254900TQC62LFRK4R517 | Long             | ABS-CBDO         | CORP              | KY        |   1366941 | PA      | $1366938.11   | 0.27%             | 2029-10-15      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2023-DMNK B1  | CUSIP: 98373XBM1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3335000 | PA      | $3330691.18   | 0.65%             | 2026-04-25      | Floating      | 10.63%                | Yes           |                  2 | On Loan: No      |
| Wind River 2015-1 CLO Ltd.                                      | WINDR 2015-1A DR   | CUSIP: 88432FBG3<br>LEI: 549300H4V7OE3OL7II20 | Long             | ABS-CBDO         | CORP              | KY        |  16000000 | PA      | $16076443.20  | 3.14%             | 2030-10-20      | Floating      | 7.15%                 | Yes           |                  2 | On Loan: No      |
| Priority 1 Issuer Logistics DAC                                 | PRPM 2025-RPL4 A3  | CUSIP: 74448NAC8<br>LEI: 635400FLODFXG5M9HI42 | Long             | ABS-O            | CORP              | IE        |   1000000 | PA      | $907618.70    | 0.18%             | 2055-05-25      | Floating      | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Mountain View CLO IX Ltd.                                       | MVEW 2017-2A D     | CUSIP: 62432LAG6<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |   1725000 | PA      | $1730576.93   | 0.34%             | 2031-01-16      | Floating      | 7.26%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2023-MF9 B1   | CUSIP: 98373XBE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    240437 | PA      | $239575.12    | 0.05%             | 2026-11-25      | Floating      | 10.64%                | Yes           |                  2 | On Loan: No      |
| Shackleton 2013-Iii Clo Ltd                                     | SHACK 2013-3A DR   | CUSIP: 81881QAY2<br>LEI: 549300S9WB2KLCOJR134 | Long             | ABS-CBDO         | CORP              | KY        |   2900000 | PA      | $2904941.60   | 0.57%             | 2030-07-15      | Floating      | 7.19%                 | 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        |   5000000 | PA      | $5001290.00   | 0.98%             | 2031-05-07      | Floating      | 7.65%                 | Yes           |                  2 | On Loan: No      |
| HARVEST SBA LOAN TRUST 2024-1                                   | HSLT 2024-1 C      | CUSIP: 41756NAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2281581 | PA      | $2343582.64   | 0.46%             | 2051-12-25      | Floating      | 9.75%                 | Yes           |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2024-SURF A   | CUSIP: 98373XBP4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4500000 | PA      | $4543187.40   | 0.89%             | 2028-09-25      | Fixed         | 12.00%                | Yes           |                  2 | On Loan: No      |
| Halcyon Ln Advisors Fdg 2018-2 Ltd/Llc                          | HLA 2018-2A C      | CUSIP: 40490AAJ9<br>LEI: 549300OG6D5MQUG20S28 | Long             | ABS-CBDO         | CORP              | KY        |  17900000 | PA      | $17919690.00  | 3.50%             | 2031-01-22      | Floating      | 7.52%                 | Yes           |                  2 | On Loan: No      |
| N/A                                                             | CFGMS 2024-28 B    | CUSIP: 14022BAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4250000 | PA      | $4275286.65   | 0.84%             | 2026-11-01      | Floating      | 14.99%                | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners XXVII Ltd.                          | OCT27 2016-1A DR   | CUSIP: 67590XAS1<br>LEI: 6354001JUH8Y4IJVGL43 | Long             | ABS-CBDO         | CORP              | US        |   1000000 | PA      | $1004800.00   | 0.20%             | 2030-07-15      | Floating      | 7.12%                 | Yes           |                  2 | On Loan: No      |
| CSMC 2021-GATE                                                  | CSMC 2021-GATE E   | CUSIP: 12662UAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2905855.50   | 0.57%             | 2036-12-15      | Floating      | 8.70%                 | Yes           |                  2 | On Loan: No      |
| EFMT 2023-1                                                     | EFMT 2023-1 A2     | CUSIP: 26844QAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     64779 | PA      | $64776.13     | 0.01%             | 2068-02-25      | Floating      | 6.24%                 | Yes           |                  2 | On Loan: No      |
| A&D MORTGAGE TRUST 2024-NQM3                                    | ADMT 2024-NQM3 A1  | CUSIP: 00039HAA5<br>LEI: 9845009E581BS7E85066 | Long             | ABS-O            | CORP              | US        |         0 | PA      | $0.01         | 0.00%             | 2069-07-25      | Floating      | 6.45%                 | Yes           |                  2 | On Loan: No      |
| FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD          | FHR 5385 CK        | CUSIP: 3137HBMS0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |    542275 | PA      | $542476.33    | 0.11%             | 2051-08-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| X-Caliber Funding Llc                                           | XCAL 2024-OPAL A   | CUSIP: 98373XBS8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3990643.20   | 0.78%             | 2026-02-25      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| PAGAYA AI DEBT TRUST 2024-1                                     | PAID 2024-1 A      | CUSIP: 69548AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    170495 | PA      | $171385.64    | 0.03%             | 2031-07-15      | Fixed         | 6.66%                 | Yes           |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust 2024-Nqm3        | MSRM 2024-NQM3 A1  | CUSIP: 61776UAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    286953 | PA      | $286539.93    | 0.06%             | 2069-07-25      | Floating      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| CFMT 2024-HB15 LLC                                              | CFMT 2024-HB15 M3  | CUSIP: 15723AAD3<br>LEI: 98450050957GF5E1CD92 | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $482902.95    | 0.09%             | 2034-08-25      | Floating      | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Assurant Clo II Ltd                                             | MORGN 2018-2A D    | CUSIP: 04623TAG0<br>LEI: 6354003JXBM4LA5YCP98 | Long             | ABS-CBDO         | CORP              | US        |    250000 | PA      | $249999.50    | 0.05%             | 2031-04-20      | Floating      | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Fremf 2019-KF73 Mortgage Trust                                  | FREMF 2019-KF61 B  | CUSIP: 30311LAG9<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |    309794 | PA      | $302490.37    | 0.06%             | 2029-04-25      | Floating      | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO VIII-R Ltd/Llc                                  | SNDPT 2015-1RA D1  | CUSIP: 83607HAG0<br>LEI: 549300RPMX5HA435Q562 | Long             | ABS-CBDO         | CORP              | KY        |   2702000 | PA      | $2707112.18   | 0.53%             | 2030-04-15      | Floating      | 7.92%                 | Yes           |                  2 | On Loan: No      |
| Eaton Vance Clo 2014-1 Ltd                                      | EATON 2014-1RA D   | CUSIP: 27830TAJ4<br>LEI: 549300FGUQU2JZ0I6P32 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $500249.00    | 0.10%             | 2030-07-15      | Floating      | 7.22%                 | Yes           |                  2 | On Loan: No      |
| VERUS SECURITIZATION TR 2024-9                                  | VERUS 2024-9 A1    | CUSIP: 92540RAC8<br>LEI: 213800LFRCPWSTP6LX39 | Long             | ABS-O            | CORP              | US        |   2170078 | PA      | $2183039.27   | 0.43%             | 2069-11-25      | Floating      | 5.44%                 | Yes           |                  2 | On Loan: No      |
| Atlas Senior Loan Fund XIII LLC                                 | ATCLO 2019-13A D   | CUSIP: 04942VAS3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |  11250000 | PA      | $11306812.50  | 2.21%             | 2031-04-22      | Floating      | 8.23%                 | Yes           |                  2 | On Loan: No      |
| XCAL MTG TR 2021-7                                              | XCAL 2021-7 B1     | CUSIP: 98370NAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4165000 | PA      | $4176378.78   | 0.82%             | 2026-01-25      | Floating      | 10.25%                | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

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

**Signature:** Laura Szalyga

**Name of Signer:** Laura Szalyga

**Title:** Treasurer