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For Institutional Investors in the US

Income ETF Holdings

Full Portfolio Holdings

(As of January 21, 2026)

Ticker Cusip Underlying Security Strike Price Quantity (Shares/ Par/ Units/ Contracts) Notional Value Market Value Weight % Current Market Value
UMBS TBA 30yr 5.5% February Delivery, 5.50%, 02/12/26 FNCL 01F052623 - - 7,928,000 $8,029,558 $8,029,558 5.19 $8,029,558
Janus Henderson Emerging Markets Debt Hard Currency ETF JEMB US 47103U738 - - 112,357 $6,057,716 $6,057,716 3.91 $6,057,716
UMBS TBA 30yr 3.5% February Delivery, 3.50%, 02/12/26 FNCL 01F032625 - - 4,352,111 $4,016,742 $4,016,742 2.59 $4,016,742
UMBS TBA 30yr 6% February Delivery, 6.00%, 02/12/26 FNCL 01F060626 - - 3,467,000 $3,547,850 $3,547,850 2.30 $3,547,850
UMBS TBA 30yr 3% February Delivery, 3.00%, 02/12/26 FNCL 01F030629 - - 3,801,107 $3,355,507 $3,355,507 2.17 $3,355,507
UMBS TBA 30yr 4.5% February Delivery, 4.50%, 02/12/26 FNCL 01F042624 - - 3,247,640 $3,180,781 $3,180,781 2.06 $3,180,781
UMBS TBA 30yr 5% February Delivery, 5.00%, 02/12/26 FNCL 01F050627 - - 2,853,969 $2,851,586 $2,851,586 1.85 $2,851,586
UMBS TBA 30yr 4% February Delivery, 4.00%, 02/12/26 FNCL 01F040628 - - 2,414,000 $2,296,878 $2,296,878 1.49 $2,296,878
GNMA II TBA 30yr 3.5% February Delivery, 3.50%, 02/19/26 G2SF 21H032621 - - 2,092,000 $1,913,442 $1,913,442 1.24 $1,913,442
Connecticut Avenue Securities Trust 2024-R03 2B1 6.67419% 25-MAR-2044, 6.67%, 03/25/44 CAS 2024-R03 207941AF2 - - 1,425,000 $1,483,319 $1,483,319 0.96 $1,476,186
Connecticut Avenue Securities Trust 2025-R01 1B1 5.57419% 25-JAN-2045, 5.57%, 01/25/45 CAS 2025-R01 20755JAG8 - - 1,390,536 $1,389,413 $1,389,413 0.90 $1,383,600
NYC Commercial Mortgage Trust 2025-1155 A 5.8329% 10-JUN-2042, 5.83%, 06/10/42 NYC 2025-1155 67122BAA5 - - 1,342,000 $1,376,405 $1,376,405 0.89 $1,371,838
GWT Commercial Mortgage Trust 2024-WLF2 D 6.61964% 15-MAY-2041, 6.62%, 05/15/41 GWT 2024-WLF2 362414AG9 - - 1,330,000 $1,339,829 $1,339,829 0.87 $1,338,117
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA4 B2 10.87419% 25-DEC-2041, 10.87%, 12/25/41 STACR 2021-HQA4 35564KPP8 - - 1,236,000 $1,302,538 $1,302,538 0.84 $1,292,458
EAST WEST INVS MGMT CLO 2019-1, 4.95%, 10/19/38 CIFC 2019-7A 171935AA7 - - 1,227,000 $1,260,541 $1,260,541 0.82 $1,231,293
BX Commercial Mortgage Trust 2024-GPA3 C 5.57198% 15-DEC-2039, 5.57%, 12/15/39 BX 2024-GPA3 123910AE1 - - 1,114,893 $1,118,962 $1,118,962 0.72 $1,117,754
Connecticut Avenue Securities Trust 2023-R06 1B2 9.77419% 25-JUL-2043, 9.77%, 07/25/43 CAS 2023-R06 20754EAJ4 - - 1,000,000 $1,102,861 $1,102,861 0.71 $1,095,530
Rad CLO 10 A 6.74741% 23-APR-2034, 5.29%, 04/23/34 RAD 2021-10A 48662LAA9 - - 1,050,000 $1,066,008 $1,066,008 0.69 $1,051,964
LV Trust 2024-SHOW B 5.825913% 10-OCT-2041, 5.83%, 10/10/41 LV 2024-SHOW 50245XAC1 - - 1,000,000 $1,022,369 $1,022,369 0.66 $1,018,970
Libra Solutions 2025-1 B 8.055% 15-AUG-2039, 8.05%, 08/15/39 OASIS 2025-1A 53161AAB7 - - 1,000,000 $1,010,792 $1,010,792 0.65 $1,002,514
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 B2 11.67419% 25-NOV-2041, 11.67%, 11/25/41 STACR 2021-DNA7 35564KNE5 - - 930,000 $991,188 $991,188 0.64 $983,045
Extended Stay America Trust 2025-ESH D 6.28019% 15-OCT-2042, 6.28%, 10/15/42 ESA 2025-ESH 30227TAG5 - - 957,000 $963,866 $963,866 0.62 $962,698
PRET 2025-NPL4 A1 6.3677% 25-MAY-2055, 6.37%, 04/25/55 PRET 2025-NPL4 74136UAA3 - - 938,961 $946,179 $946,179 0.61 $941,695
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA3 B2 10.12419% 25-SEP-2041, 10.12%, 09/25/41 STACR 2021-HQA3 35564KKL2 - - 912,000 $943,925 $943,925 0.61 $937,000
Chase Mortgage Reference Notes, Series 2020-CL1 M1 6.09621% 25-OCT-2057, 6.10%, 10/25/57 CHASE 2020-CL1 46591HAG5 - - 874,923 $907,945 $907,945 0.59 $903,945
Sunoco LP 7.875% PERP, 7.88%, 03/18/99 SUN 86765KAE9 - - 839,000 $886,500 $886,500 0.57 $863,742
Carvana Co. 4.875% 01-SEP-2029, 4.88%, 09/01/29 CVNA 146869AH5 - - 939,000 $882,279 $882,279 0.57 $864,350
BLP Trust 2025-IND2 E 7.43019% 15-DEC-2042, 7.43%, 12/15/42 BLP 2025-IND2 05556WAJ5 - - 870,000 $872,576 $872,576 0.57 $871,319
BX Commercial Mortgage Trust 2024-BIO2 D 7.71271% 15-AUG-2041, 7.71%, 08/13/41 BX 2024-BIO2 05613GAG7 - - 888,000 $865,522 $865,522 0.56 $861,527
Connecticut Avenue Securities Trust 2025-R02 1B1 5.82419% 25-FEB-2045, 5.82%, 02/25/45 CAS 2025-R02 20754TAH5 - - 830,000 $841,425 $841,425 0.55 $837,800
UMBS TBA 30yr 3.5% March Delivery, 3.50%, 03/12/26 FNCL 01F032633 - - 910,889 $838,666 $838,666 0.54 $838,666
Aurium CLO I DRRR 5.415% 25-JUL-2038, 5.42%, 07/25/38 ACLO 1X BCC3JJ069 - - 700,000 $838,292 $838,292 0.54 $827,335
UMBS TBA 30yr 3% March Delivery, 3.00%, 03/12/26 FNCL 01F030637 - - 946,893 $835,146 $835,146 0.54 $835,146
X Corp /Us/ Term Loan 26-Oct-2029, 9.50%, 10/29/29 TWTR 90184NAK4 - - 807,000 $831,157 $831,157 0.54 $819,444
Fidelity Grand Harbour CLO 2019-1 DR 5.266% 15-JAN-2039, 5.27%, 01/15/38 GRANH 2019-1X BCC3JXNM8 - - 700,000 $824,052 $824,052 0.53 $823,213
BX Trust 2025-VLT7 E 7.43019% 15-JUL-2044, 7.43%, 07/15/44 BX 2025-VLT7 123913AJ4 - - 808,000 $809,849 $809,849 0.52 $808,681
SMRT Commercial Mortgage Trust 2022-MINI E 6.38019% 15-JAN-2039, 6.38%, 01/15/39 SMRT 2022-MINI 78457JAN2 - - 800,000 $803,018 $803,018 0.52 $797,582
MHP Commercial Mortgage Trust 2022-MHIL G 7.63769% 15-JAN-2039, 7.64%, 01/15/27 MHP 2022-MHIL 55293DAN1 - - 800,000 $797,804 $797,804 0.52 $796,616
Santander Bank Auto Credit Linked Notes Series 2024-B 18-JAN-2033, 8.88%, 01/18/33 SBCLN 2024-B 80280BAF5 - - 767,513 $781,948 $781,948 0.51 $780,622
Alpha Generation, LLC 6.25% 15-JAN-2034, 6.25%, 01/15/34 ALPGEN 02073LAC5 - - 765,000 $774,846 $774,846 0.50 $773,917
Bbam European Clo VIII DAC|5.101|01/26/2040, 5.10%, 01/26/40 BBAME 8A BCC3QC900 - - 650,000 $769,807 $769,807 0.50 $767,328
COOPR Residential Mortgage Trust 2025-CES1 A1A 5.654% 25-MAY-2060, 5.65%, 05/25/60 COOPR 2025-CES1 12596SAA1 - - 745,454 $758,196 $758,196 0.49 $752,225
ITT Holdings LLC 6.5% 01-AUG-2029, 6.50%, 08/01/29 INTMAT 45074JAA2 - - 755,000 $754,600 $754,600 0.49 $731,290
Caesars Entertainment, Inc. 6.0% 15-OCT-2032, 6.00%, 10/15/32 CZR 12769GAD2 - - 757,000 $749,777 $749,777 0.49 $737,539
Tallgrass Energy Partners, LP 6.75% 15-MAR-2034, 6.75%, 03/15/34 TEP 87470LAM3 - - 718,000 $747,195 $747,195 0.48 $729,156
BX Trust 2024-CNYN D 6.37028% 15-APR-2041, 6.37%, 04/15/41 BX 2024- CNYN 05612HAG6 - - 742,847 $744,538 $744,538 0.48 $743,618
Granite Ridge Resources Inc|8.875|11/05/2029, 8.88%, 11/05/29 GRNT 387432AA5 - - 762,000 $734,700 $734,700 0.48 $730,568
SoFi Consumer Loan Program 2025-3 Trust D 5.35% 25-AUG-2034, 5.35%, 08/15/34 SCLP 2025-3 83390JAD4 - - 713,000 $718,649 $718,649 0.47 $715,788
Octagon 75 D2 7.50735% 22-JAN-2038, 7.51%, 01/22/38 OCT75 2025-1A 67579EAL3 - - 700,000 $713,690 $713,690 0.46 $700,260
JSG Finance, Inc. 6.75% 01-MAY-2033, 6.75%, 05/01/33 JANEST 47077WAE8 - - 666,000 $703,266 $703,266 0.46 $693,151
Chase Mortgage Reference Notes, Series 2020-CL1 M2 6.34621% 25-OCT-2057, 6.35%, 10/25/57 CHASE 2020-CL1 46591HAH3 - - 664,955 $690,013 $690,013 0.45 $686,849
Maxam Prill S.a r.l. 7.75% 15-JUL-2030, 7.75%, 07/15/30 MXPRLL 57779MAA8 - - 661,000 $685,971 $685,971 0.44 $680,706
MHC Commercial Mortgage Trust 2021-MHC G 6.996442% 15-APR-2038, 7.00%, 04/15/38 MHC 2021-MHC 55316VAN4 - - 680,000 $681,766 $681,766 0.44 $680,842
Synergy Infrastructure Holdings LLC 7.875% 01-DEC-2030, 7.88%, 12/01/30 SYNRGY 87191JAA2 - - 644,000 $679,519 $679,519 0.44 $671,630
Mohegan Escrow Issuer, LLC 8.25% 15-APR-2030, 8.25%, 04/15/30 MOHEGN 60832QAA8 - - 633,000 $675,300 $675,300 0.44 $661,229
Sotheby's ArtFi Master Trust, Series 2024-1 D 7.91% 20-DEC-2031, 7.91%, 12/22/31 ARTFI 2024-1A 83589CAE8 - - 668,000 $673,871 $673,871 0.44 $669,175
Teva Pharmaceutical Finance Co. LLC 6.15% 01-FEB-2036, 6.15%, 02/01/36 TEVA 88163VAD1 - - 604,000 $654,074 $654,074 0.42 $636,430
MTN Commercial Mortgage Trust 2022-LPFL F 8.975169% 15-MAR-2039, 8.98%, 03/15/39 MTN 2022-LPFL 62475WAL9 - - 650,000 $652,759 $652,759 0.42 $651,625
Verde Purchaser, LLC 10.5% 30-NOV-2030, 10.50%, 11/30/30 VRTV 92339LAA0 - - 596,000 $650,607 $650,607 0.42 $641,567
Hess Midstream Operations LP 4.25% 15-FEB-2030, 4.25%, 02/15/30 HESM 428102AE7 - - 649,000 $646,017 $646,017 0.42 $633,988
ALLY BK AUTO CR LKD NT 2025-B E, 6.16%, 09/15/33 ABCLN 2025-B 02007G6S7 - - 644,321 $644,451 $644,451 0.42 $643,679
SF ABS ISSUER 2025-1 0%55 A2, 5.38%, 11/25/55 SFARM 2025-1A 784193AA2 - - 647,000 $628,932 $628,932 0.41 $626,322
PRPM 2025-2 A1 6.469% 25-MAY-2030, 6.47%, 05/25/30 PRPM 2025-2 69382HAA3 - - 616,990 $622,629 $622,629 0.40 $616,975
NCL Corporation Ltd. 5.875% 15-JAN-2031, 5.88%, 01/15/31 NCLH 62886HBY6 - - 612,000 $612,855 $612,855 0.40 $612,155
Carvana Co. 9.0% 01-JUN-2030, 9.00%, 06/01/30 CVNA 146869AN2 - - 558,227 $607,470 $607,470 0.39 $585,560
UMBS TBA 30yr 4.5% March Delivery, 4.50%, 03/12/26 FNCL 01F042632 - - 620,360 $606,747 $606,747 0.39 $606,747
LGI Homes, Inc. 4.0% 15-JUL-2029, 4.00%, 07/15/29 LGIH 50187TAF3 - - 652,000 $605,276 $605,276 0.39 $604,769
Burford Capital Global Finance LLC 7.5% 15-JUL-2033, 7.50%, 07/15/33 BURLN 12116LAG4 - - 622,000 $605,025 $605,025 0.39 $604,118
Ardagh Metal Packaging Finance USA LLC 3.0% 01-SEP-2029, 3.00%, 09/01/29 AMPBEV BO2884316 - - 540,000 $602,122 $602,122 0.39 $598,593
BX Trust 2025-ARIA C 5.517301% 13-DEC-2042, 5.52%, 12/13/42 BX 2025-ARIA 05619TAE8 - - 590,000 $595,876 $595,876 0.39 $593,977
Penta CLO 7 DR 5.365% 25-JAN-2039, 5.37%, 01/25/39 PENTA 2020-7X BCC3K0Q45 - - 500,000 $595,562 $595,562 0.39 $587,808
Loire Finco Luxembourg Sarl|5.901|01/28/2030, 5.90%, 01/28/30 LGCLTD BL5024577 - - 500,000 $591,321 $591,321 0.38 $589,211
Acropole Holding SAS|5.519|07/26/2032, 5.52%, 07/26/32 SIACFP BL5165602 - - 500,000 $590,371 $590,371 0.38 $588,397
Romansur Investments SL|6.004|10/21/2032, 6.00%, 10/21/32 DNTOTP BL5243177 - - 500,000 $590,176 $590,176 0.38 $588,029
Gategroup Finance International Sarl|5.548|06/10/2032, 5.55%, 06/10/32 GATESW BL5316619 - - 500,000 $588,710 $588,710 0.38 $587,783
Peer Holding III BV|4.769|10/29/2032, 4.77%, 10/29/32 ACTINA BL5243508 - - 500,000 $588,564 $588,564 0.38 $586,859
New Residential Mortgage LLC 6.545% 25-MAR-2032, 6.54%, 03/25/32 NZES 2025-FHT 64832EAA7 - - 577,333 $588,081 $588,081 0.38 $585,247
Althea Acquisition Bidco SARL|5.282|10/07/2032, 5.28%, 10/07/32 ZENTIV BL5254679 - - 500,000 $587,208 $587,208 0.38 $585,835
Froneri Lux FinCo SARL|4.873|09/30/2032, 4.87%, 09/30/32 ICECR BL5164100 - - 500,000 $586,317 $586,317 0.38 $585,367
Modena Buyer Llc Term Loan 01-Jul-2031, 8.09%, 07/01/31 ENUSCO 60753DAC8 - - 576,472 $584,037 $584,037 0.38 $573,284
Cp Atlas Buyer Inc Term Loan B 08-Jul-2030, 8.97%, 07/08/30 AMBATH 12658HAL6 - - 591,518 $582,780 $582,780 0.38 $579,539
Chrysaor Bidco Sarl|5.521|10/30/2031, 5.52%, 10/30/31 ALTDOM BL5260221 - - 500,000 $582,204 $582,204 0.38 $589,023
UMBS TBA 30yr 2.5% February Delivery, 2.50%, 02/12/26 FNCL 01F022626 - - 685,000 $579,939 $579,939 0.38 $579,939
Vodafoneziggo Group Holding Bv 31-Oct-2019 Term Loan 31-Jan-2029, 4.94%, 01/31/29 ZIGGO BL3193739 - - 500,000 $579,136 $579,136 0.38 $578,574
Hopper Merger Sub Inc|4.784|01/14/2033, 4.78%, 01/14/33 HOLX BL5427549 - - 500,000 $578,622 $578,622 0.37 $584,998
Gloves Buyer Inc Term Loan B 21-May-2032, 7.72%, 05/24/32 PROINP 37987UAG7 - - 576,000 $576,936 $576,936 0.37 $573,840
ION Platform Finance S.a r.l. 7.875% 30-SEP-2032, 7.88%, 09/30/32 IONPLA 46205QAB4 - - 581,000 $575,004 $575,004 0.37 $561,659
Voyager Parent, LLC 9.25% 01-JUL-2032, 9.25%, 07/01/32 EVRI 92921EAA0 - - 536,000 $571,652 $571,652 0.37 $568,760
ACHM Trust 2024-HE1 B 7.26% 25-MAY-2039, 7.26%, 05/25/39 ACHM 2024-HE1 00449TAB1 - - 550,146 $570,755 $570,755 0.37 $567,760
Star Parent Inc Term Loan B 27-Sep-2030, 7.67%, 09/30/30 SYNH 87169DAB1 - - 566,687 $570,743 $570,743 0.37 $567,707
Wells Fargo Commercial Mortgage Trust 2025-1918 A 5.76134% 15-SEP-2040, 5.76%, 09/15/40 WFCM 2025-1918 95004QAA6 - - 561,000 $570,085 $570,085 0.37 $568,199
Zodiac Purchaser Llc Term Loan 14-Feb-2032, 7.22%, 02/17/32 ZUO 98980XAC9 - - 568,575 $567,529 $567,529 0.37 $565,021
Inizio Group Ltd Term Loan B 19-Aug-2028, 8.02%, 08/21/28 UDGLN 12509YAE6 - - 583,000 $565,588 $565,588 0.37 $562,595
LUXURY LEASE PARTN 2025-A 5.51%32 A, 5.51%, 03/15/32 LLP 2025-A 55069BAA5 - - 552,630 $552,571 $552,571 0.36 $551,979
Dawn Bidco Llc Term Loan B 01-Jan-2032, 7.16%, 10/07/32 DAY 23923YAB7 - - 554,000 $551,694 $551,694 0.36 $553,346
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA2 B2 12.37419% 25-FEB-2042, 12.37%, 02/25/42 STACR 2022-DNA2 35564KSQ3 - - 507,575 $550,774 $550,774 0.36 $546,063
FHF ISSUER TRUST 2024-1 0% 30, 5.75%, 05/15/30 FHF 2025-2A 30343DAB0 - - 543,000 $548,061 $548,061 0.36 $547,454
Victra Holdings, LLC 8.75% 15-SEP-2029, 8.75%, 09/15/29 VICTRA 92648DAA4 - - 501,000 $544,061 $544,061 0.35 $528,596
Coinstar Funding Series 2017-1 A2 5.216% 25-APR-2047, 5.22%, 04/25/47 COIN 2017-1A 19260MAA4 - - 466,650 $535,894 $535,894 0.35 $530,012
Winterfell Financing Sarl|7.127|05/04/2028, 7.13%, 05/04/28 STKGRP BL4232304 - - 500,000 $529,389 $529,389 0.34 $521,391
Osaic Holdings, Inc. 6.75% 01-AUG-2032, 6.75%, 08/01/32 ADVGRO 00791GAD9 - - 493,000 $528,216 $528,216 0.34 $512,316
SWCH Commercial Mortgage Trust 2025-DATA F 7.91911% 15-FEB-2042, 7.92%, 02/15/42 SWCH 2025-DATA 78489CAF6 - - 530,000 $522,394 $522,394 0.34 $521,571
New Home Company Inc. 8.5% 01-NOV-2030, 8.50%, 11/01/30 NWHM 645370AG2 - - 483,000 $514,341 $514,341 0.33 $505,104
Rand Parent, LLC 8.5% 15-FEB-2030, 8.50%, 02/15/30 AAWW 753272AA1 - - 474,000 $512,654 $512,654 0.33 $495,083
Navient Corporation 5.5% 15-MAR-2029, 5.50%, 03/15/29 NAVI 63938CAM0 - - 506,000 $511,925 $511,925 0.33 $502,107
USA Compression Partners, LP 6.25% 01-OCT-2033, 6.25%, 10/01/33 USAC 91740PAH1 - - 496,000 $511,586 $511,586 0.33 $501,425
Truist Bank Auto Credit Linked Notes, Series 2025-1 C 6.807% 25-SEP-2033, 6.81%, 09/26/33 TACLN 2025-1 897926CC3 - - 508,163 $510,365 $510,365 0.33 $507,770
General Motors Financial Co Cum Red Perp Pfd Shs Series A, 5.75%, 03/30/99 GM 37045XCA2 - - 504,000 $510,062 $510,062 0.33 $501,046
Ammega Group BV|7.019|12/19/2028, 7.02%, 12/19/28 ALPBID BL4321750 - - 500,000 $508,592 $508,592 0.33 $505,968
Rocket Software, Inc. 6.5% 15-FEB-2029, 6.50%, 02/15/29 ROCSOF 77314EAA6 - - 507,000 $508,083 $508,083 0.33 $493,711
Vontive Mortgage Trust 2025-RTL1 A1 6.507% 25-MAR-2030, 6.51%, 03/25/30 VNTV 2025-RTL1 928884AA3 - - 496,000 $505,842 $505,842 0.33 $503,422
Roblox Corporation 3.875% 01-MAY-2030, 3.88%, 05/01/30 RBLX 771049AA1 - - 521,000 $503,985 $503,985 0.33 $499,443
LATAM Airlines Group S.A. 7.625% 07-JAN-2031, 7.62%, 01/07/31 LTMCI 51817RAE6 - - 473,000 $498,888 $498,888 0.32 $497,385
Midcontinent Communications 8.0% 15-AUG-2032, 8.00%, 08/15/32 MIDCON 59565XAD2 - - 479,000 $495,077 $495,077 0.32 $478,366
Hilton Grand Vacations Borrower Escrow LLC 4.875% 01-JUL-2031, 4.88%, 07/01/31 HGVLLC 43284MAB4 - - 527,000 $494,842 $494,842 0.32 $493,344
WULF Compute LLC 7.75% 15-OCT-2030, 7.75%, 10/15/30 WULF 982911AA7 - - 465,000 $491,806 $491,806 0.32 $482,897
Talen Energy Supply, LLC 6.5% 01-FEB-2036, 6.50%, 02/01/36 TLN 87422VAN8 - - 472,000 $491,638 $491,638 0.32 $484,394
Lions Gate Capital Holdings 1, Inc. 5.5% 15-APR-2029, 6.00%, 04/15/30 LGF 535939AA0 - - 511,000 $489,725 $489,725 0.32 $481,464
Long Ridge Energy LLC|8.17194|02/19/2032, 8.17%, 02/19/32 LONRID BL4986818 - - 487,698 $486,935 $486,935 0.32 $484,499
Progroup AG 5.375% 15-APR-2031, 5.38%, 04/15/31 PROGRP 9P79F0XX6 - - 400,000 $484,648 $484,648 0.31 $477,869
VERTICAL BRIDGE LLC 2016-1 5.602% 55, 5.60%, 08/16/55 VBTOW 2025-1A 92535VAS1 - - 475,000 $475,374 $475,374 0.31 $474,857
Capital Four CLO XI D 5.224% 25-JAN-2039, 5.22%, 01/25/39 CFOUR 11A BCC3Q5JR5 - - 400,000 $473,379 $473,379 0.31 $470,594
Arini European CLO II DR 5.166% 15-OCT-2038, 5.17%, 10/15/38 ARINI 2A BCC3QF9B9 - - 400,000 $468,870 $468,870 0.30 $468,399
Cloud Software Group, Inc. 6.625% 15-AUG-2033, 6.62%, 08/15/33 TIBX 18912UAG7 - - 455,000 $464,224 $464,224 0.30 $450,994
First Quantum Minerals Ltd. 7.25% 15-FEB-2034, 7.25%, 02/15/34 FMCN 335934AX3 - - 429,000 $464,080 $464,080 0.30 $450,947
PENN Entertainment, Inc. 4.125% 01-JUL-2029, 4.12%, 07/01/29 PENN 707569AV1 - - 498,000 $463,810 $463,810 0.30 $462,612
CD&R Firefly Bidco Plc 8.625% 30-APR-2029, 8.62%, 04/30/29 MOTFUE 9RB6I8XX3 - - 320,000 $454,726 $454,726 0.29 $449,373
Six Flags Entertainment Corporation 7.25% 15-MAY-2031, 7.25%, 05/15/31 FUN 83001AAD4 - - 454,000 $453,374 $453,374 0.29 $447,248
UMBS TBA 30yr 5% March Delivery, 5.00%, 03/12/26 FNCL 01F050635 - - 454,031 $452,940 $452,940 0.29 $452,940
AppLovin Corporation 5.5% 01-DEC-2034, 5.50%, 12/01/34 APP 03831WAD0 - - 436,000 $450,331 $450,331 0.29 $446,934
Ovg Business Services Llc Term Loan B 25-Jun-2031, 6.72%, 06/25/31 OVGBUS 62955EAJ3 - - 445,891 $447,445 $447,445 0.29 $445,615
Citigroup Inc. Depositary Shs Repr 1/25th Fix/Fltg Non-Cum Red Perp Pfd Rg ShsSer X, 3.88%, 05/18/99 C 172967MV0 - - 441,000 $443,752 $443,752 0.29 $440,714
AMC Networks Inc. 10.5% 15-JUL-2032, 10.50%, 07/15/32 AMCX 00164VAK9 - - 408,000 $443,202 $443,202 0.29 $442,369
Windstream Services Llc Term Loan B 06-Oct-2032, 7.72%, 10/06/32 UNIT 97381JAK9 - - 439,000 $442,716 $442,716 0.29 $440,646
JPMorgan Chase & Co. Depositary Shs Repr 1/10th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser KK, 3.65%, 09/01/99 JPM 48128BAN1 - - 441,000 $440,862 $440,862 0.29 $438,582
Apld Computeco LLC 9.25% 15-DEC-2030, 9.25%, 12/15/30 APLD 00202DAA5 - - 427,000 $440,628 $440,628 0.29 $433,825
Flash Compute LLC 7.25% 31-DEC-2030, 7.25%, 12/31/30 FLASHC 33853QAA9 - - 439,000 $440,476 $440,476 0.29 $438,442
COMPASS DATACENTERS 2025-1 B1, 5.76%, 05/25/50 CMPDC 2025-1A 20469CAC9 - - 443,000 $439,995 $439,995 0.29 $438,082
Cipher Compute LLC 7.125% 15-NOV-2030, 7.12%, 11/15/30 CIFR 17253NAA5 - - 420,000 $438,295 $438,295 0.28 $432,559
MKT 2020-525M Mortgage Trust A 2.694% 12-FEB-2040, 2.69%, 02/12/40 MKT 2020-525M 55316PAA5 - - 482,000 $435,895 $435,895 0.28 $435,138
CMS Energy Corporation 6.5% 01-JUN-2055, 6.50%, 06/01/55 CMS 125896BY5 - - 411,000 $427,468 $427,468 0.28 $423,683
Huntington Bank Auto Credit-Linked Notes, Series 2025-2 D 7.16765% 20-SEP-2033, 6.95%, 09/20/33 HACLN 2025-2 44644NAR0 - - 426,669 $427,157 $427,157 0.28 $426,993
Proofpoint Inc Term Loan 31-Aug-2028, 6.92%, 08/31/28 PFPT 74345HAJ0 - - 423,300 $426,459 $426,459 0.28 $424,925
VERTICAL BRIDGE LLC 2016-1 7.728% 55, 7.45%, 08/16/55 VBTOW 2025-1A 92535VAU6 - - 426,000 $426,044 $426,044 0.28 $425,427
Galaxy XXVI CLO Ltd., 5.68%, 07/31/26 GLXYT 2025-1 362922AA4 - - 418,855 $422,217 $422,217 0.27 $421,094
CenterPoint Energy, Inc. 5.95% 01-APR-2056, 5.95%, 04/01/56 CNP 15189TBS5 - - 406,000 $416,577 $416,577 0.27 $409,196
EF Holdco, Inc. 7.375% 30-SEP-2030, 7.38%, 09/30/30 EFC 31574BAA4 - - 395,000 $409,668 $409,668 0.27 $401,091
BX Commercial Mortgage Trust 2024-AIR2 D 6.47045% 15-OCT-2041, 6.47%, 10/15/41 BX 2024-AIR2 05613QAG5 - - 403,815 $407,585 $407,585 0.26 $404,802
Connecticut Avenue Securities Trust 2022-R01 1B2 9.87419% 25-DEC-2041, 9.87%, 12/25/41 CAS 2022-R01 20754LAJ8 - - 389,503 $407,334 $407,334 0.26 $404,450
Wilsonart LLC 11.0% 15-AUG-2032, 11.00%, 08/15/32 WLSNRT 97246JAA6 - - 415,000 $406,637 $406,637 0.26 $386,728
FIGRE Trust 2024-HE6 C 5.974% 25-DEC-2054, 5.97%, 12/25/54 FIGRE 2024-HE6 31684DAC3 - - 397,466 $404,104 $404,104 0.26 $400,740
OEG Finance PLC 7.25% 27-SEP-2029, 7.25%, 09/27/29 OEGFIN YV9260469 - - 320,000 $399,331 $399,331 0.26 $390,658
Bayview Opportunity Master Fund VII Trust 2024-CAR1 E 7.47419% 25-DEC-2031, 7.47%, 12/26/31 BVCLN 2024-CAR1 07336QAE2 - - 393,460 $399,101 $399,101 0.26 $396,895
Level 3 Financing, Inc. 8.5% 15-JAN-2036, 8.50%, 01/15/36 LVLT 527298CQ4 - - 388,000 $398,727 $398,727 0.26 $396,070
Santander Bank Auto Credit-Linked Notes, Series 2024-A E 7.762% 15-JUN-2032, 7.76%, 06/15/32 SBCLN 2024-A 80290CCM4 - - 388,360 $394,608 $394,608 0.26 $394,022
VMED O2 UK Financing I Plc 6.75% 15-JAN-2033, 6.75%, 01/15/33 VMED 92858RAE0 - - 393,000 $391,185 $391,185 0.25 $384,038
NRG Energy, Inc. 6.0% 15-JAN-2036, 6.00%, 01/15/36 NRG 629377DD1 - - 380,000 $389,906 $389,906 0.25 $383,319
VZ Secured Financing BV 7.5% 15-JAN-2033, 7.50%, 01/15/33 ZIGGO 91845AAB1 - - 377,000 $388,588 $388,588 0.25 $380,420
Summer BC Holdco B SARL|8.93194|02/21/2029, 8.93%, 02/21/29 KANGRP BL4583235 - - 417,819 $387,617 $387,617 0.25 $385,229
Brightstar Lottery PLC 5.75% 15-JAN-2033, 5.75%, 01/15/33 BRSL 108922AA3 - - 382,000 $383,049 $383,049 0.25 $380,791
Kioxia Holdings Corporation 6.625% 24-JUL-2033, 6.62%, 07/24/33 KIOXIA 49726JAB4 - - 353,000 $381,202 $381,202 0.25 $369,639
M&T Bank Corporation Depositary Shs Repr 1/10th Fix-to-Fltg Non-Cum Red Perp Pfd Rg Sh Ser I, 3.50%, 03/01/99 MTB 55261FAN4 - - 384,000 $380,624 $380,624 0.25 $375,360
Zoetis Inc. 0.25% 15-JUN-2029, 0.25%, 06/15/29 ZTS 98978VAY9 - - 372,000 $380,458 $380,458 0.25 $380,370
Assemblin Caverion Group AB FRN 01-JUL-2031, 5.53%, 07/01/31 ASSEMB YX6405840 - - 320,000 $378,354 $378,354 0.25 $377,492
JH North America Holdings Inc. 5.875% 31-JAN-2031, 5.88%, 01/31/31 JHXAU 46593WAA3 - - 358,000 $378,259 $378,259 0.25 $365,640
TeamSystem S.p.A. FRN 31-JUL-2031, 5.52%, 07/31/31 TITANL YW4172816 - - 320,000 $377,947 $377,947 0.24 $377,551
Capital One Financial Corp 3.950 % Fixed-to-Fltg Non-Cum Perp Pfd Registered Shs Series M, 3.95%, 09/01/99 COF 14040HCF0 - - 380,000 $377,376 $377,376 0.24 $375,249
CoreWeave, Inc. 9.0% 01-FEB-2031, 9.00%, 02/01/31 CRWV 21873SAC2 - - 381,000 $376,624 $376,624 0.24 $359,765
U.S. Bancorp Contingent Convertable Notes Repr 1/25th Fix/Fltg Non-Cum Red Perp Pfd Rg Shs Ser N, 3.70%, 01/15/99 USB 902973BC9 - - 383,000 $375,839 $375,839 0.24 $375,563
Wingspire Equipment Finance 2025-1 D 5.45% 20-SEP-2033, 5.45%, 09/20/33 WEF 2025-1A 97415CAE8 - - 374,000 $374,917 $374,917 0.24 $374,804
Antero Resources Corporation 5.4% 01-FEB-2036, 5.40%, 02/01/36 AR 03674XAU0 - - 377,000 $373,660 $373,660 0.24 $373,660
Stellantis Finance US, Inc. 6.45% 18-MAR-2035, 6.45%, 03/18/35 STLA 85855CAL4 - - 350,000 $372,629 $372,629 0.24 $364,854
Level 3 Financing, Inc. 3.75% 15-JUL-2029, 3.75%, 07/15/29 LVLT 527298BT9 - - 406,000 $371,786 $371,786 0.24 $371,490
Electronic Arts Inc. 2.95% 15-FEB-2051, 2.95%, 02/15/51 EA 285512AF6 - - 392,000 $371,693 $371,693 0.24 $366,650
Darktrace Ltd Term Loan 09-Oct-2031, 6.90%, 10/09/31 DARKLN 52526CAB5 - - 369,370 $371,040 $371,040 0.24 $370,119
BX Trust 2024-VLT4 E 6.569594% 15-JUN-2041, 6.57%, 06/15/41 BX 2024-VLT4 05612TAJ4 - - 370,000 $369,952 $369,952 0.24 $369,479
Gray Media, Inc. 7.25% 15-AUG-2033, 7.25%, 08/15/33 GTN 389375AP1 - - 346,000 $366,972 $366,972 0.24 $354,639
Rivers Enterprise Intermediate, LLC 6.25% 15-OCT-2030, 6.25%, 10/15/30 RIVLEN 76884GAA3 - - 353,000 $365,917 $365,917 0.24 $359,543
Civitas Resources, Inc. 9.625% 15-JUN-2033, 9.62%, 06/15/33 CIVI 17888HAD5 - - 335,000 $365,021 $365,021 0.24 $361,707
Jones Deslauriers Insurance Management Inc|6.8642|01/31/2033, 6.86%, 01/31/33 NAVCOR BL5337474 - - 362,000 $362,938 $362,938 0.24 $362,000
Carnival Corporation 5.75% 01-AUG-2032, 5.75%, 08/01/32 CCL 143658CA8 - - 343,000 $362,289 $362,289 0.23 $352,099
Univision Communications Inc. 9.375% 01-AUG-2032, 9.38%, 08/01/32 UVN 914906BA9 - - 319,000 $358,209 $358,209 0.23 $343,255
Asurion Llc Term Loan B 19-Sep-2030, 7.97%, 09/19/30 ASUCOR 04649VBE9 - - 354,469 $356,764 $356,764 0.23 $355,195
JERSEY MIKES FUNDING LLC 5.61% 55, 5.61%, 08/16/55 JMIKE 2025-1A 476681AE1 - - 349,125 $356,712 $356,712 0.23 $353,067
Olympus Water US Holding Corporation 5.375% 01-OCT-2029, 5.38%, 10/01/29 SOLEIN BR3444733 - - 320,000 $355,116 $355,116 0.23 $348,910
Howard Midstream Energy Partners, LLC 6.625% 15-JAN-2034, 6.62%, 01/15/34 HOWARD 442722AD6 - - 346,000 $355,058 $355,058 0.23 $354,612
BXHPP Trust 2021-FILM B 4.695% 15-AUG-2036, 4.69%, 08/15/36 BXHPP 05609JAJ1 - - 375,000 $352,379 $352,379 0.23 $352,037
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2025-HQA1 M2 5.52419% 25-FEB-2045, 5.52%, 02/25/45 STACR 2025-HQA1 35564NHA4 - - 350,000 $352,048 $352,048 0.23 $350,598
HILTON GRAND VACATIONS TRUS 5.12% 44, 5.12%, 05/25/44 HGVT 2025-2A 43285JAC8 - - 348,063 $351,695 $351,695 0.23 $350,359
Marlette Funding Trust 2025-1 D 6.02% 15-JUL-2035, 6.02%, 07/16/35 MFT 2025-1A 570920AD0 - - 348,000 $350,284 $350,284 0.23 $349,877
Mermaid Bidco Inc Term Loan B 03-Jul-2031, 7.15%, 07/02/31 MRL 59012CAL9 - - 343,312 $349,581 $349,581 0.23 $343,741
House of HR Group BV 9.0% 03-NOV-2029, 9.00%, 11/03/29 HOUSEH 85NW8LXX4 - - 300,000 $347,570 $347,570 0.23 $336,424
Civitas Resources, Inc. 8.75% 01-JUL-2031, 8.75%, 07/01/31 CIVI 17888HAB9 - - 331,000 $345,359 $345,359 0.22 $343,669
GS Mortgage Securities Corporation Trust 2025-800D A 6.40012% 17-NOV-2041, 6.33%, 11/25/41 GSMS 2025-800D 36273XAA9 - - 330,000 $332,577 $332,577 0.22 $330,530
Fora Financial Asset Securitization, Series 2024-1 A 6.33% 15-MAY-2027, 6.33%, 08/15/29 FORA 2024-1A 34512PAA2 - - 330,000 $332,270 $332,270 0.22 $331,864
Palmer Square European CLO 2021-2 DR 5.199727% 15-MAR-2038, 5.14%, 03/15/38 PLMER 2021-2A BCC3Q13Y6 - - 280,000 $331,692 $331,692 0.21 $328,046
Raven Acquisition Holdings, LLC 6.875% 15-NOV-2031, 6.88%, 11/15/31 RCM 75420NAA1 - - 318,000 $331,479 $331,479 0.21 $327,410
Talen Energy Supply, LLC 6.25% 01-FEB-2034, 6.25%, 02/01/34 TLN 87422VAM0 - - 321,000 $330,956 $330,956 0.21 $326,219
LHOME Mortgage Trust 2024-RTL2 A1 7.128% 25-MAR-2029, 7.13%, 03/25/29 LHOME 50205JAA4 - - 325,000 $328,753 $328,753 0.21 $327,015
Emrld Borrower Lp Term Loan B 04-Aug-2031 US$1.4 bil fltg rate incre term bank ln due 08/04/2031, 6.12%, 08/04/31 EMECLI 26872NAD1 - - 326,581 $328,515 $328,515 0.21 $327,280
Hudson River Trading LLC|6.1739|03/18/2030, 6.17%, 03/18/30 HURVTR 44413EAK4 - - 327,833 $328,162 $328,162 0.21 $327,712
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2024-DNA3 M2 5.32419% 25-OCT-2044, 5.32%, 10/25/44 STACR 2024-DNA3 35564NFA6 - - 325,000 $326,689 $326,689 0.21 $325,391
New Residential Mortgage Loan Trust 2024-RTL1 A2 7.101% 25-MAR-2039, 7.10%, 03/25/39 NRMLT 2024-RTL1 64831PAB1 - - 323,000 $326,174 $326,174 0.21 $324,454
Univision Communications Inc. 8.5% 31-JUL-2031, 8.50%, 07/31/31 UVN 914906AZ5 - - 299,000 $324,888 $324,888 0.21 $312,745
MHP Commercial Mortgage Trust 2021-STOR F 5.99548% 15-JUL-2038, 6.00%, 07/15/38 MHP 2021-STOR 55293BAM7 - - 325,000 $324,773 $324,773 0.21 $324,394
Asurion LLC 8.0% 31-DEC-2032, 8.00%, 12/31/32 ASUCOR 045941AA9 - - 306,000 $320,933 $320,933 0.21 $318,689
MHC Commercial Mortgage Trust 2021-MHC F 6.396442% 15-APR-2038, 6.40%, 04/15/38 MHC 2021-MHC 55316VAL8 - - 320,000 $320,506 $320,506 0.21 $320,108
Millrose Properties, Inc. 6.375% 01-AUG-2030, 6.38%, 08/01/30 MRP 601137AA0 - - 303,000 $318,765 $318,765 0.21 $309,912
Aretec Group Inc Term Loan B-4 09-Aug-2030, 6.72%, 08/09/30 RCAP 04009DAJ3 - - 316,496 $318,506 $318,506 0.21 $317,025
DROP Mortgage Trust 2021-FILE A 4.945% 15-OCT-2043, 4.94%, 10/15/43 DROP 2021-FILE 26210YAA4 - - 325,000 $318,005 $318,005 0.21 $317,693
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA3 B2 10.12419% 25-OCT-2033, 10.12%, 10/25/33 STACR 2021-DNA3 35564KFH7 - - 250,000 $316,444 $316,444 0.21 $314,545
Jabil Inc. 4.75% 01-FEB-2033, 4.75%, 02/01/33 JBL 46656PAD6 - - 317,000 $313,375 $313,375 0.20 $313,375
Taseko Mines Limited 8.25% 01-MAY-2030, 8.25%, 05/01/30 TKOCN 876511AG1 - - 288,000 $311,463 $311,463 0.20 $306,117
HLF Financing SARL LLC 4.875% 01-JUN-2029, 4.88%, 06/01/29 HLF 40390DAC9 - - 323,000 $309,222 $309,222 0.20 $306,991
Wells Fargo Commercial Mortgage Trust 2025-VTT D 6.382032% 15-MAR-2038, 6.38%, 03/15/38 WFCM 2025-VTT 94990GAG4 - - 302,000 $304,140 $304,140 0.20 $303,015
Rakuten Group, Inc. 5.125% PERP, 5.12%, 10/22/99 RAKUTN 75102WAA6 - - 301,000 $303,491 $303,491 0.20 $299,634
FHF Issuer Trust 2025-1 (First Help Financial Trust) C 5.69% 15-AUG-2031, 5.69%, 08/15/31 FHF 2025-1A 30340RAE6 - - 305,000 $303,414 $303,414 0.20 $303,077
Di Issuer LLC, 5.90%, 12/15/55 LMDV 2025-1A 538908AC8 - - 301,000 $302,750 $302,750 0.20 $302,404
Connecticut Avenue Securities Trust 2022-R07 1B2 15.87419% 25-JUN-2042, 15.87%, 06/25/42 CAS 2022-R07 20754MAL1 - - 260,263 $302,228 $302,228 0.20 $299,129
BAMLL Re-REMIC Trust 2025-FRR5 E736 0.85009% 27-SEP-2052, 0.86%, 09/27/52 BAMLL 05494BAJ6 - - 327,626 $301,519 $301,519 0.20 $300,886
American Electric Power Company, Inc. 3.875% 15-FEB-2062, 3.88%, 02/15/62 AEP 025537AU5 - - 298,000 $300,469 $300,469 0.19 $295,433
Spa US HoldCo Inc|7.93355|02/04/2028, 7.93%, 02/04/28 AHLMUN BL3566777 - - 297,756 $299,789 $299,789 0.19 $298,277
Bridgebio Pharma Inc|.75|02/01/2033, 0.75%, 02/01/33 BBIO 10806XAK8 - - 292,000 $299,487 $299,487 0.19 $299,475
Pilgrim's Pride Corporation 6.25% 01-JUL-2033, 6.25%, 07/01/33 PPC 72147KAK4 - - 279,000 $299,064 $299,064 0.19 $298,047
Extended Stay America Trust 2026-ESH2|6.57|02/15/2043, 6.57%, 02/15/43 ESA 2026-ESH2 30227WAJ2 - - 299,000 $299,000 $299,000 0.19 $299,000
BX Trust 2025-ROIC E 6.62148% 15-FEB-2042, 6.62%, 03/15/30 BX 2025-ROIC 05593VAN3 - - 296,307 $295,578 $295,578 0.19 $295,196
Penta CLO 15 DR 5.0834% 15-OCT-2038, 5.04%, 10/15/38 PENTA 2023-15A BCC3Q6XP1 - - 250,000 $295,455 $295,455 0.19 $293,202
Carvana Auto Receivables Trust 2021-N3 E 3.16% 10-JUN-2028, 3.16%, 06/12/28 CRVNA 2021-N3 14687GAF2 - - 302,140 $295,019 $295,019 0.19 $294,701
Rithm Capital Corp. 8.0% 01-APR-2029, 8.00%, 04/01/29 RITM 64828TAB8 - - 280,000 $294,823 $294,823 0.19 $287,916
Rithm Capital Corp. 8.0% 15-JUL-2030, 8.00%, 07/15/30 RITM 64828TAC6 - - 286,000 $294,483 $294,483 0.19 $294,038
Ahlstrom Holding 3 Oy Term Loan B 23-May-2030, 8.18%, 05/24/30 AHLMUN 78475BAB3 - - 289,666 $292,125 $292,125 0.19 $290,607
SCG Trust 2025-SNIP E 7.08019% 15-SEP-2042, 7.08%, 09/15/42 SCG 2025-SNIP 78398JAJ3 - - 290,000 $291,848 $291,848 0.19 $291,449
LifePoint Health, Inc. 10.0% 01-JUN-2032, 10.00%, 06/01/32 RGCARE 53219LAX7 - - 271,000 $290,759 $290,759 0.19 $286,920
Viper Energy Partners LLC 5.7% 01-AUG-2035, 5.70%, 08/01/35 VNOM 92764MAB0 - - 279,000 $290,548 $290,548 0.19 $282,641
Capital One Financial Corporation 6.183% 30-JAN-2036, 6.18%, 01/30/36 COF 14040HDJ1 - - 273,000 $290,134 $290,134 0.19 $282,069
Project Alpha Intermediate Holding Inc Term Loan B 26-Oct-2030, 6.92%, 10/28/30 QLIK 74339DAN8 - - 296,562 $289,421 $289,421 0.19 $291,696
RCKT Mortgage Trust 2024-CES9 A1B 5.683% 25-DEC-2044, 5.68%, 12/25/44 RCKT 2024-CES9 749426AB8 - - 283,616 $287,835 $287,835 0.19 $285,551
Royal Caribbean Cruises Ltd|5.375|01/15/2036, 5.38%, 01/15/36 RCL 78017TAB9 - - 285,000 $285,164 $285,164 0.18 $284,866
Sierra Timeshare 2025-1 Receivables Funding D 6.86% 20-JAN-2042, 6.86%, 01/21/42 SRFC 2025-1A 82653CAD3 - - 288,750 $283,182 $283,182 0.18 $283,072
Ally Bank Auto Credit-Linked Notes, Series 2024-B F 8.036% 15-SEP-2032, 8.04%, 09/15/32 ABCLN 2024-B 02007G4G5 - - 278,101 $282,129 $282,129 0.18 $281,695
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA3 M2 5.97419% 25-SEP-2041, 5.97%, 09/25/41 STACR 2021-HQA3 35564KJP5 - - 277,867 $281,399 $281,399 0.18 $280,154
CVS Health Corporation 6.75% 10-DEC-2054, 6.75%, 12/10/54 CVS 126650EG1 - - 267,000 $280,383 $280,383 0.18 $278,280
Millrose Properties, Inc. 6.25% 15-SEP-2032, 6.25%, 09/15/32 MRP 601137AB8 - - 269,000 $278,847 $278,847 0.18 $272,729
PRM7 Trust 2025-PRM7 E 6.61844% 10-NOV-2042, 6.62%, 11/10/42 PRM7 2025-PRM7 74290HAJ5 - - 278,000 $278,596 $278,596 0.18 $277,522
Amur Equipment Finance Receivables XV, Series 2025-1 D 5.68% 20-AUG-2032, 5.68%, 08/20/32 AXIS 2025-1A 03237FAE5 - - 275,000 $278,407 $278,407 0.18 $278,320
Toronto-Dominion Bank 6.35% 31-OCT-2085, 6.35%, 10/31/85 TD 89116C4H7 - - 269,000 $278,202 $278,202 0.18 $272,556
Westlake Automobile Receivables Trust Series 2025-P1 D 5.59% 15-JUL-2032, 5.59%, 07/15/32 WLAKE 2025-P1 96043LAG5 - - 275,000 $277,924 $277,924 0.18 $277,625
Watco Companies, LLC 7.125% 01-AUG-2032, 7.12%, 08/01/32 WATCOS 941130AD8 - - 254,000 $274,585 $274,585 0.18 $265,988
TEXAS Commercial Mortgage Trust 2025-TWR D 6.77079% 15-APR-2042, 6.77%, 04/15/42 TEXAS 2025-TWR 88231WAG0 - - 271,000 $274,497 $274,497 0.18 $274,140
River Rock Entertainment Authority Term Loan B 01-Dec-2031, 12.73%, 11/24/31 RIVER 76837PAC7 - - 280,000 $274,471 $274,471 0.18 $271,600
Dermatology Intermediate Holdings Iii Inc Term Loan 02-Apr-2029, 8.09%, 04/02/29 DEINHO 24982LAB1 - - 276,419 $270,594 $270,594 0.18 $265,363
Hilton Grand Vacations Trust 2025-1 C 5.52% 25-AUG-2040, 5.52%, 05/27/42 HGVT 2025-1A 43283CAC5 - - 262,716 $266,049 $266,049 0.17 $264,962
Qwest Capital Funding, Inc. 6.875% 15-JUL-2028, 6.88%, 07/15/28 QWECOM 912912AQ5 - - 268,000 $258,387 $258,387 0.17 $258,028
CIFC Funding 2023-III D 8.13444% 20-JAN-2037, 7.92%, 01/20/37 CIFC 2023-3A 12598YAJ7 - - 250,000 $256,853 $256,853 0.17 $251,546
Aretec Escrow Issuer Inc. 10.0% 15-AUG-2030, 10.00%, 08/15/30 RCAP 04020JAA4 - - 229,000 $256,769 $256,769 0.17 $246,782
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA6 B2 11.37419% 25-OCT-2041, 11.37%, 10/25/41 STACR 2021-DNA6 35564KLV9 - - 243,000 $255,562 $255,562 0.17 $253,489
Humana Inc. 5.5% 15-MAR-2053, 5.50%, 03/15/53 HUM 444859BX9 - - 271,000 $254,060 $254,060 0.16 $248,802
Atlas Warehouse Lending Company, L.P. 4.95% 15-NOV-2030, 4.95%, 11/15/30 ATWALD 049463AG7 - - 250,000 $252,358 $252,358 0.16 $249,986
Lavender Dutch Borrowerco Bv Term Loan B 17-Sep-2032, 6.93%, 12/31/32 LAVEND 51944RAB8 - - 249,219 $251,752 $251,752 0.16 $250,984
Directv Financing Llc Term Loan B 02-Aug-2029, 9.35%, 08/02/29 DTV 25460HAD4 - - 243,582 $250,477 $250,477 0.16 $244,982
Santander Bank Auto Credit-Linked Notes, Series 2025-A E 6.274% 15-JAN-2034, 6.27%, 01/16/34 SBCLN 2025-A 80290CCU6 - - 250,000 $250,410 $250,410 0.16 $250,105
MVW 2025-1 C 5.75% 20-SEP-2042, 5.75%, 09/22/42 MVWOT 2025-1A 627924AC7 - - 246,562 $250,128 $250,128 0.16 $250,049
Atlas Warehouse Lending Company, L.P. 5.25% 15-JAN-2033, 5.25%, 01/15/33 ATWALD 049463AH5 - - 250,000 $250,051 $250,051 0.16 $250,015
GCI LIBERTY 12% SERIES A CUMULATIVE PREFERRED, 12.00%, 07/15/32 GCI 3385617 - - 250.00 $250,000 $250,000 0.16 $250,000
Reach Abs Trust 2026-1|5.16|02/15/2033, 5.16%, 02/15/33 REACH 2026-1A 75526XAD6 - - 250,000 $249,918 $249,918 0.16 $249,883
Surgery Center Holdings, Inc. 7.25% 15-APR-2032, 7.25%, 04/15/32 SURCEN 86881WAF9 - - 242,000 $249,578 $249,578 0.16 $244,851
SIG plc 9.75% 31-OCT-2029, 9.75%, 10/31/29 SHILN YU4938780 - - 220,000 $249,074 $249,074 0.16 $243,357
QTS ISSUER ABS I 5.928%55, 5.93%, 05/25/55 QTS 2025-1A 74690DAB7 - - 248,000 $245,513 $245,513 0.16 $244,410
Freedom Mortgage Holdings LLC 6.875% 01-MAY-2031, 6.88%, 05/01/31 FREMOR 35641AAE8 - - 239,000 $242,525 $242,525 0.16 $240,517
Condor Merger Sub, Inc. 7.375% 15-FEB-2030, 7.38%, 02/15/30 MCFE 579063AB4 - - 269,000 $242,208 $242,208 0.16 $233,556
Emrld Borrower Lp Term Loan B-1 31-May-2030, 6.07%, 05/31/30 EMECLI 26872NAC3 - - 237,708 $240,409 $240,409 0.16 $238,200
Ping Identity Holding Corp Term Loan B 01-Jan-2032, 6.59%, 11/15/32 PING 72342MAB3 - - 234,000 $237,034 $237,034 0.15 $234,292
Flutter Treasury Designated Activity Company 6.125% 04-JUN-2031, 6.12%, 06/04/31 FLTR YO7610554 - - 170,000 $234,822 $234,822 0.15 $231,054
Versant Media Group Inc|7.16078|01/02/2031, 7.16%, 01/02/31 VSNT BL5271491 - - 234,000 $234,803 $234,803 0.15 $234,058
BXP Trust 2017-GM D 3.4248% 13-JUN-2039, 3.42%, 06/13/39 BXP 056083AL2 - - 240,000 $233,740 $233,740 0.15 $233,260
Taurus 2025-3 UK D 6.7886% 20-JUL-2035, 6.88%, 07/20/35 TAURS 2025-UK3A BCC3N1GT6 - - 170,000 $232,675 $232,675 0.15 $228,684
Bayview Opportunity Master Fund VII 2025-EDU1 C 5.67419% 25-JUL-2048, 5.67%, 07/27/48 BVCLN 2025-EDU1 07337GAC7 - - 231,548 $232,533 $232,533 0.15 $231,548
RCKT Mortgage Trust 2025-CES5 A1A 5.687% 25-MAY-2055, 5.69%, 05/25/55 RCKT 2025-CES5 74942CAA7 - - 227,895 $232,245 $232,245 0.15 $230,409
Hudson's Bay Simon JV Trust 2015-HBS A10 4.1545% 05-AUG-2034, 4.15%, 08/05/34 HBCT 2015-HB10 44422PBN1 - - 238,000 $230,967 $230,967 0.15 $230,390
Extended Stay America Trust 2025-ESH E 7.03019% 15-OCT-2042, 7.03%, 10/15/42 ESA 2025-ESH 30227TAJ9 - - 219,000 $221,277 $221,277 0.14 $220,978
CompoSecure Holdings LLC 5.625% 01-FEB-2033, 5.62%, 02/01/33 COMPOS 20459XAC5 - - 219,000 $218,238 $218,238 0.14 $217,964
Di Issuer LLC, 7.88%, 12/15/55 LMDV 2025-1A 538908AE4 - - 214,000 $217,837 $217,837 0.14 $217,509
Broadcom Inc. AVGO US 11135F101 - - 662.00 $217,666 $217,666 0.14 $217,666
Project Alpha Intermediate Holding Inc|8.67194|05/09/2033, 8.67%, 05/09/33 QLIK BL4806313 - - 227,000 $216,626 $216,626 0.14 $215,366
Garda World Security Corporation 6.5% 15-JAN-2031, 6.50%, 01/15/31 GWCN 36485MAQ2 - - 207,000 $215,444 $215,444 0.14 $213,014
Foundation Finance Trust 2023-2 D 9.1% 15-JUN-2049, 9.10%, 06/15/49 FFIN 2023-2A 35042RAD8 - - 200,696 $214,002 $214,002 0.14 $213,647
Albion Financing 3 Sarl Term Loan B 01-May-2031, 6.70%, 05/21/31 AGKLN 01330EAD0 - - 213,000 $213,648 $213,648 0.14 $213,053
DT Midstream, Inc 5.8% 15-DEC-2034, 5.80%, 12/15/34 DTMINC 23345MAD9 - - 205,000 $213,372 $213,372 0.14 $212,150
Citigroup Inc. 5.592% 19-NOV-2034, 5.59%, 11/19/34 C 172967PN5 - - 205,000 $212,316 $212,316 0.14 $210,310
BXHPP Trust 2021-FILM A 4.445% 15-AUG-2036, 4.44%, 08/15/36 BXHPP 05609JAA0 - - 220,000 $212,048 $212,048 0.14 $211,858
WarnerMedia Holdings, Inc. 4.054% 15-MAR-2029, 4.05%, 03/15/29 WBD 55903VBB8 - - 221,000 $210,569 $210,569 0.14 $207,408
Vistra Operations Co. LLC 6.0% 15-APR-2034, 6.00%, 04/15/34 VST 92840VAS1 - - 198,000 $210,393 $210,393 0.14 $207,192
Booz Allen Hamilton, Inc. 5.95% 15-APR-2035, 5.95%, 04/15/35 BAH 09951LAD5 - - 199,000 $209,431 $209,431 0.14 $206,241
Saluda Grade Alternative Mortgage Trust 2023-RTL3 A1 8.0% 25-APR-2029, 8.00%, 04/25/29 GRADE 2023-RTL3 79583YAA2 - - 207,418 $208,750 $208,750 0.14 $206,399
INEOS US Petrochem LLC|8.0661|03/29/2029, 8.07%, 03/29/29 STYRO BL4462091 - - 290,780 $208,100 $208,100 0.13 $206,599
Western Funding Auto Loan Trust 2025-1 C 5.34% 15-NOV-2035, 5.34%, 11/15/35 WEFUN 2025-1 958250AC6 - - 208,000 $207,936 $207,936 0.13 $207,720
Olympus Water US Holding Corporation 7.25% 15-FEB-2033, 7.25%, 02/15/33 SOLEIN 681639AE0 - - 200,000 $204,459 $204,459 0.13 $200,310
Nidda Healthcare Holding GmbH FRN 15-OCT-2032, 5.28%, 10/15/32 SAZGR YK5244370 - - 170,000 $203,294 $203,294 0.13 $200,408
Reach ABS Trust 2024-1 C 6.9% 15-FEB-2031, 6.90%, 02/18/31 REACH 2024-1A 75526PAC5 - - 198,000 $202,805 $202,805 0.13 $202,539
Burford Capital Global Finance LLC 8.5% 15-JAN-2034, 8.50%, 01/15/34 BURLN 12116LAJ8 - - 200,000 $202,395 $202,395 0.13 $202,064
SCG Commercial Mortgage Trust 2025-FLWR E 6.43019% 15-AUG-2042, 6.43%, 08/15/42 SCG 2025-FLWR 78438AAJ4 - - 200,000 $200,971 $200,971 0.13 $200,721
BAMLL Re-REMIC Trust 2025-FRR5 EK86 0.0% 27-NOV-2051, 0.00%, 11/27/51 BAMLL 05494BBJ5 - - 257,817 $199,804 $199,804 0.13 $199,804
Ally Bank Auto Credit-Linked Notes, Series 2025-A E 6.066% 15-JUN-2033, 6.07%, 06/15/33 ABCLN 2025-A 02007G5H2 - - 199,458 $199,256 $199,256 0.13 $199,021
Algonquin Power & Utilities Corp. 4.75% 18-JAN-2082, 4.75%, 01/18/82 AQNCN 015857AH8 - - 202,000 $199,112 $199,112 0.13 $199,005
Lumen Technologies, Inc. 4.125% 15-APR-2029, 4.12%, 04/15/29 LUMN 550241AB9 - - 195,411 $197,949 $197,949 0.13 $194,434
Tricolor Auto Securitization Trust 2025-1 C 5.72% 15-OCT-2029, 0.00%, 10/15/29 TAST 2025-1A 89617CAC5 - - 802,000 $197,722 $197,722 0.13 $197,722
HLF Financing SARL LLC 12.25% 15-APR-2029, 12.25%, 04/15/29 HLF 40390DAD7 - - 175,000 $194,515 $194,515 0.13 $188,739
GNMA II TBA 30yr 4% February Delivery, 4.00%, 02/19/26 G2SF 21H040624 - - 204,000 $192,814 $192,814 0.12 $192,814
Lendbuzz Securitization Trust 2026-1|4.68|07/15/2030, 4.68%, 07/15/30 LBZZ 2026-1A 525952AB3 - - 192,000 $191,982 $191,982 0.12 $191,982
Wells Fargo Commercial Mortgage Trust 2025-VTT E 7.13745% 15-MAR-2038, 7.14%, 03/15/38 WFCM 2025-VTT 94990GAJ8 - - 189,000 $190,961 $190,961 0.12 $190,174
Lumen Technologies, Inc. 10.0% 15-OCT-2032, 10.00%, 10/15/32 LUMN 550241AK9 - - 184,918 $190,138 $190,138 0.12 $185,155
Santander Bank Auto Credit-Linked Notes, Series 2023-B D 6.663% 15-DEC-2033, 6.66%, 12/15/33 SBCLN 2023-B 80290CCD4 - - 186,694 $189,819 $189,819 0.12 $189,577
Long Ridge Energy LLC 8.75% 15-FEB-2032, 8.75%, 02/15/32 LONRID 54288CAA1 - - 171,000 $189,124 $189,124 0.12 $182,599
BAMLL Re-REMIC Trust 2025-FRR5 EK73 0.009926% 27-FEB-2051, 0.01%, 02/27/51 BAMLL 05494BAW7 - - 243,129 $187,155 $187,155 0.12 $187,152
FHF Issuer Trust 2025-1 (First Help Financial Trust) D 5.95% 15-JUN-2032, 5.95%, 06/15/32 FHF 2025-1A 30340RAF3 - - 193,000 $186,372 $186,372 0.12 $186,149
CVS Health Corporation 7.0% 10-MAR-2055, 7.00%, 03/10/55 CVS 126650EH9 - - 169,000 $181,598 $181,598 0.12 $177,261
Star Parent, Inc. 9.0% 01-OCT-2030, 9.00%, 10/01/30 SYNH 855170AA4 - - 167,000 $181,387 $181,387 0.12 $176,753
Business Jet Securities, Series 2024-1 C 9.132% 15-MAY-2039, 9.13%, 05/15/39 BJETS 2024-1A 12327CAC8 - - 166,736 $181,333 $181,333 0.12 $172,260
Tuple US Bidco LLC|7.4375|01/18/2033, 7.44%, 01/18/33 FNSTCM BL5426350 - - 180,160 $180,421 $180,421 0.12 $180,160
Westlake Automobile Receivables Trust 2026-1 D 4.75% 15-JUL-2031, 4.75%, 07/15/31 WLAKE 2026-1A 96043BAG7 - - 179,000 $178,659 $178,659 0.12 $178,518
ALA Trust 2025-OANA D 6.77172% 15-JUN-2040, 6.77%, 06/15/40 ALA 2025-OANA 009920AG4 - - 176,000 $177,305 $177,305 0.11 $177,073
X Corp /Us/ Term Loan 27-Oct-2029, 10.45%, 10/29/29 TWTR 90184NAG3 - - 173,108 $175,951 $175,951 0.11 $171,773
Saluda Grade Alternative Mortgage Trust 2024-RTL4 A1 7.5% 25-FEB-2030, 7.50%, 02/25/30 GRADE 2024-RTL4 79584CAA9 - - 170,000 $172,051 $172,051 0.11 $170,245
GWT Commercial Mortgage Trust 2024-WLF2 E 7.31862% 15-MAY-2041, 7.32%, 05/15/41 GWT 2024-WLF2 362414AJ3 - - 171,000 $171,671 $171,671 0.11 $171,427
SWCH Commercial Mortgage Trust 2025-DATA E 7.02041% 15-FEB-2042, 7.02%, 02/15/42 SWCH 2025-DATA 78489CAE9 - - 170,000 $169,648 $169,648 0.11 $169,416
Cloud Software Group, Inc. 9.0% 30-SEP-2029, 9.00%, 09/30/29 TIBX 18912UAA0 - - 157,000 $166,594 $166,594 0.11 $162,198
SREIT Commercial Mortgage Trust 2021-MFP2 F 6.4132% 15-NOV-2036, 6.41%, 11/15/36 SREIT 2021-MFP2 85236WCQ7 - - 165,000 $165,058 $165,058 0.11 $164,852
TAURUS 25-3 UK FLTG 2035, 6.08%, 07/20/35 TAURS 2025-UK3A BCC3N1GS8 - - 120,000 $163,976 $163,976 0.11 $161,491
UMBS TBA 30yr 6.5% February Delivery, 6.50%, 02/12/26 FNCL 01F062622 - - 153,000 $158,421 $158,421 0.10 $158,421
Capstone Borrower, Inc. 8.0% 15-JUN-2030, 8.00%, 06/15/30 CVT 140944AA7 - - 155,000 $158,247 $158,247 0.10 $156,973
Upstart Securitization Trust 2025-3 C 5.43% 20-SEP-2035, 5.43%, 09/20/35 UPST 2025 91684FAD0 - - 160,000 $157,665 $157,665 0.10 $157,617
Great Wolf Trust 2024-WOLF D 6.57019% 15-MAR-2039, 6.57%, 03/15/39 GWT 2024-WOLF 39152MAG0 - - 154,000 $155,415 $155,415 0.10 $155,219
FREMF 2023-K511 Mortgage Trust C 5.634403% 25-NOV-2028, 5.63%, 11/25/28 FREMF 2023-K511 30334FAG5 - - 162,000 $153,541 $153,541 0.10 $152,248
Reach ABS Trust 2025-2 C 5.69% 15-AUG-2032, 5.69%, 08/18/32 REACH 2025-2A 75525QAC4 - - 150,000 $151,355 $151,355 0.10 $151,189
CoreWeave, Inc. 9.25% 01-JUN-2030, 9.25%, 06/01/30 CRWV 21873SAB4 - - 155,000 $150,924 $150,924 0.10 $148,893
Exeter Select Automobile Receivables Trust 2025-2 D 5.34% 15-JAN-2032, 5.34%, 01/15/32 ESART 2025-2 30185EAF0 - - 150,000 $150,784 $150,784 0.10 $150,629
Huntington Bank Auto Credit-Linked Notes, Series 2024-1 D 9.16765% 20-MAY-2032, 8.95%, 05/20/32 HACLN 2024-1 44644NAD1 - - 145,895 $150,194 $150,194 0.10 $150,121
Extended Stay America Trust 2026-ESH2|7.42|02/15/2043, 7.42%, 02/15/43 ESA 2026-ESH2 30227WAL7 - - 150,000 $150,000 $150,000 0.10 $150,000
BX Commercial Mortgage Trust 2024-MF C 5.62109% 15-FEB-2039, 5.62%, 02/15/39 BX 2024-MF 05612EAE8 - - 148,756 $149,024 $149,024 0.10 $148,861
StoneX Group Inc. 7.875% 01-MAR-2031, 7.88%, 03/01/31 SNEX 861896AA6 - - 136,000 $148,900 $148,900 0.10 $144,705
Ciena Corporation CIEN US 171779309 - - 638.00 $147,946 $147,946 0.10 $147,946
Cogent Biosciences, Inc. 1.625% 15-NOV-2031, 1.62%, 11/15/31 COGT 19240QAA0 - - 117,000 $147,618 $147,618 0.10 $147,280
Prima Capital CRE Securitization 2019-1S C 5.5% 25-OCT-2038, 5.50%, 10/01/33 PRIMA 2019-1S 74166KAE0 - - 175,000 $147,431 $147,431 0.10 $146,575
Parexel International Inc Term Loan B 31-Dec-2031, 6.47%, 12/12/31 PRXL 71911KAF1 - - 145,000 $146,534 $146,534 0.09 $145,751
Qwest Capital Funding, Inc. 7.75% 15-FEB-2031, 7.75%, 02/15/31 QWECOM 74913EAJ9 - - 151,000 $143,269 $143,269 0.09 $138,165
UnitedHealth Group Incorporated 5.3% 15-JUN-2035, 5.30%, 06/15/35 UNH 91324PFQ0 - - 137,000 $142,231 $142,231 0.09 $141,484
Ce Intermediate I Llc Term Loan 25-Mar-2032, 7.38%, 03/25/32 CEINTE 12523EAD4 - - 137,958 $139,167 $139,167 0.09 $137,613
Boots Group Finco Lp Term Loan B 30-Aug-2032, 7.21%, 08/30/32 BOOTFN 09947PAB7 - - 134,000 $135,955 $135,955 0.09 $134,614
Osaic Holdings Inc Term Loan 01-Aug-2032, 6.60%, 08/02/32 ADVGRO 68773JAG5 - - 123,000 $123,602 $123,602 0.08 $123,082
Coinbase Global, Inc. 0.0% 01-OCT-2029, 0.00%, 10/01/29 COIN 19260QAG2 - - 131,000 $122,236 $122,236 0.08 $122,236
Level 3 Financing, Inc. 6.875% 30-JUN-2033, 6.88%, 06/30/33 LVLT 527298CM3 - - 115,135 $119,077 $119,077 0.08 $118,593
Reno De Medici S.p.A. FRN 15-APR-2029, 7.01%, 04/15/29 SAFFA XS2798174434 - - 320,000 $118,933 $118,933 0.08 $116,161
Westlake Automobile Receivables Trust 2025-2 D 5.08% 15-MAY-2031, 5.08%, 05/15/31 WLAKE 2025-2A 96041KAG9 - - 118,000 $118,737 $118,737 0.08 $118,620
Extended Stay America Trust 2025-ESH F 7.78019% 15-OCT-2042, 7.78%, 10/15/42 ESA 2025-ESH 30227TAL4 - - 117,000 $118,333 $118,333 0.08 $118,156
Great Wolf Trust 2024-WOLF G 9.11619% 15-MAR-2039, 9.12%, 03/15/39 GWT 2024-WOLF 39152MAN5 - - 117,000 $117,497 $117,497 0.08 $117,289
Victra Holdings Llc Term Loan B 29-Mar-2029, 7.42%, 03/29/29 VICTRA 50226BAN8 - - 112,612 $113,500 $113,500 0.07 $112,965
LGI Homes, Inc. 7.0% 15-NOV-2032, 7.00%, 11/15/32 LGIH 50187TAK2 - - 112,000 $111,785 $111,785 0.07 $110,325
Park River Holdings Inc Term Loan B 15-Mar-2031, 8.16%, 03/17/31 PRIMBP 70082HAE6 - - 110,000 $110,873 $110,873 0.07 $110,698
ACHV ABS Trust 2023-1PL (Freed) D 8.47% 18-MAR-2030, 8.47%, 03/18/30 ACHV 2023-1PL 00091XAD9 - - 108,402 $109,452 $109,452 0.07 $109,350
Exeter Automobile Receivables Trust 2024-3 E 7.84% 15-OCT-2031, 7.84%, 10/15/31 EART 30165AAG0 - - 95,000 $98,758 $98,758 0.06 $98,613
GNMA II TBA 30yr 5% February Delivery, 5.00%, 02/19/26 G2SF 21H050623 - - 96,000 $95,747 $95,747 0.06 $95,747
Builders FirstSource, Inc. BLDR US 12008R107 - - 719.00 $91,184 $91,184 0.06 $91,184
Six Flags Entertainment Corporation 8.625% 15-JAN-2032, 8.62%, 01/15/32 FUN 83003AAA8 - - 87,000 $88,661 $88,661 0.06 $88,494
INEOS US Petrochem LLC|7.9661|10/07/2031, 7.97%, 10/07/31 STYRO BL4766400 - - 130,018 $86,257 $86,257 0.06 $85,594
Apollo Debt Solutions BDC 5.2% 08-DEC-2028, 5.20%, 12/08/28 APODS 03770DAH6 - - 81,000 $81,479 $81,479 0.05 $80,964
New Home Company Inc. 9.25% 01-OCT-2029, 9.25%, 10/01/29 NWHM 645370AF4 - - 73,000 $79,106 $79,106 0.05 $77,024
Bayview Opportunity Master Fund VII Trust 2024-EDU1 D 6.62419% 25-JUN-2047, 6.62%, 06/25/47 BVCLN 2024-EDU1 07336PAD6 - - 74,870 $76,840 $76,840 0.05 $76,468
Marex Group plc 6.404% 04-NOV-2029, 6.40%, 11/04/29 MARGRO 566539AA0 - - 70,000 $73,800 $73,800 0.05 $72,829
Lennar Corporation Class A LEN US 526057104 - - 607.00 $71,626 $71,626 0.05 $71,626
UMBS TBA 30yr 2.5% March Delivery, 2.50%, 03/12/26 FNCL 01F022634 - - 82,375 $69,702 $69,702 0.05 $69,702
GNMA II TBA 30yr 5.5% February Delivery, 5.50%, 02/19/26 G2SF 21H052629 - - 68,000 $68,650 $68,650 0.04 $68,650
Husky Holdings LLC|1|02/15/2029, 1.00%, 02/15/29 HUSKYI BL5314697 - - 66,000 $65,960 $65,960 0.04 $66,009
BX Commercial Mortgage Trust 2024-GPA3 B 5.32233% 15-DEC-2039, 5.32%, 12/15/39 BX 2024-GPA3 123910AC5 - - 65,015 $65,257 $65,257 0.04 $65,190
Connecticut Avenue Securities Trust 2024-R06 1M2 5.47419% 25-SEP-2044, 5.47%, 09/25/44 CAS 2024-R06 20755RAC9 - - 61,632 $62,146 $62,146 0.04 $61,893
U.S. Bank Auto Credit Linked Notes, Series 2023-1 B 6.789% 25-AUG-2032, 6.79%, 08/25/32 USCLN 2023-1 90357PAV6 - - 53,943 $54,696 $54,696 0.04 $54,421
QTS Issuer ABS II LLC|6.729|01/05/2056, 6.73%, 01/05/56 QTSII 2026-1A 74690FAS5 - - 43,000 $43,157 $43,157 0.03 $43,149
Lendbuzz Securitization Trust 2026-1|5.74|09/15/2031, 5.74%, 09/15/31 LBZZ 2026-1A 525952AD9 - - 41,000 $40,996 $40,996 0.03 $40,996
Lendbuzz Securitization Trust 2026-1|5.16|12/16/2030, 5.16%, 12/16/30 LBZZ 2026-1A 525952AC1 - - 32,000 $31,995 $31,995 0.02 $31,995
Allwyn Entertainment Financing (UK) Plc 7.25% 30-APR-2030, 7.25%, 04/30/30 SAZKAG 8J07N0XX3 - - - $13,574 $13,574 0.01 $0
US 10yr Ultra Fut Mar26 MAR 26 UXYH6 FUTURES_USD - -48.00 $-5,476,500 $0 0.00 $0
US 10YR NOTE (CBT)Mar26 MAR 26 TYH6 FUTURES_USD - 11.00 $1,228,219 $0 0.00 $0
US LONG BOND(CBT) Mar26 MAR 26 USH6 FUTURES_USD - -9.00 $-1,034,719 $0 0.00 $0
US 5YR NOTE (CBT) Mar26 MAR 26 FVH6 FUTURES_USD - 225.00 $24,461,719 $0 0.00 $0
US 2YR NOTE (CBT) Mar26 MAR 26 TUH6 FUTURES_USD - 65.00 $13,535,742 $0 0.00 $0
US ULTRA BOND CBT Mar26 MAR 26 WNH6 FUTURES_USD - -21.00 $-2,466,844 $0 0.00 $0
GOLD FUT OPT(CMX) Feb26P 3935 3935 GCG6P GCG6 COMDTY $3,935.00 -8.00 $3,870,000 $-160 0.00 $-160
US 10YR FUT OPTN Mar26Call 114.5 TYH6C TYH6 COMDTY $114.50 -28.00 $-3,126,375 $-875 0.00 $-875
US 5YR FUTR OPTN Mar26Call 110.5 FVH6C FVH6 COMDTY $110.50 -57.00 $-6,196,969 $-1,336 0.00 $-1,336
ESH6 20Mar26 Call (AMERICAN PHYSICAL) 7325 ESH6C ESH6 INDEX $7,325.00 -6.00 $-2,073,000 $-4,125 0.00 $-4,125
US 10YR FUT OPTN Mar26P 111 111 TYH6P TYH6 COMDTY $111.00 -28.00 $3,126,375 $-7,000 0.00 $-7,000
GOLD FUT OPT(CMX) Feb26C 5070 5070 GCG6C GCG6 COMDTY $5,070.00 -8.00 $-3,870,000 $-7,280 0.00 $-7,280
US 5YR FUTR OPTN Mar26Put 108.25 FVH6P FVH6 COMDTY $108.25 -57.00 $6,196,969 $-8,461 -0.01 $-8,461
ESH6 20Mar26 Put (AMERICAN PHYSICAL) 6525 ESH6P ESH6 INDEX $6,525.00 -6.00 $2,073,000 $-19,125 -0.01 $-19,125
UMBS TBA 30yr 2.5% February Delivery, 2.50%, 02/12/26 FNCL 01F022626 - - -82,375 $-69,741 $-69,741 -0.05 $-69,741
SEGREGATED CASH SEGCASH - $0.00 628,223 $628,223 $628,223 0.41 $628,223
EURO EUR - - 70,319 $82,287 $82,287 0.05 $82,287
BRITISH POUND GBP - - - $0 $0 0.00 $0
US DOLLARS USD MD_142224 - - -28,550,787 $-28,550,787 $-28,550,787 -18.50 $-28,550,787
Buy Protection, 1.00%, 12/20/30 2I65BYEI2 2I65BYEI2 - 7,300,000 $0 $7,300,000 4.73 $7,300,000
Buy Protection, 1.00%, 12/20/30 2I65BYEI2 2I65BYEI2 - -7,300,000 $-7,300,000 $-7,300,000 -4.73 $-7,300,000
Janus Henderson AAA CLO ETF 01/23/26 JAAA US 47103U845 $50.72 134,758 $6,841,664 $14,823 0.01 $14,823
FX Forward|GBP|03/04/2026 +GBPU - - -891,322 $-1,196,738 $-1,196,738 -0.78 $-1,196,738
FX Forward|USD|03/04/2026 +GBPU - - 1,189,174 $1,189,174 $1,189,174 0.77 $1,189,174
FX Forward|EUR|03/04/2026 +EUR0 - - -9,295,012 $-10,897,492 $-10,897,492 -7.06 $-10,897,492
FX Forward|USD|03/04/2026 +EUR0 - - 10,899,798 $10,899,798 $10,899,798 7.06 $10,899,798
FX Forward|EUR|03/04/2026 +EUR0 - - -400,000 $-468,961 $-468,961 -0.30 $-468,961
FX Forward|USD|03/04/2026 +EUR0 - - 467,899 $467,899 $467,899 0.30 $467,899
FX Forward|GBP|03/04/2026 +GBPU - - 109,614 $147,174 $147,174 0.10 $147,174
FX Forward|USD|03/04/2026 +GBPU - - -145,902 $-145,902 $-145,902 -0.09 $-145,902
FX Forward|EUR|03/04/2026 +EUR1 - - -498,750 $-584,736 $-584,736 -0.38 $-584,736
FX Forward|USD|03/04/2026 +EUR1 - - 582,735 $582,735 $582,735 0.38 $582,735
FX Forward|EUR|03/04/2026 +EUR2 - - 5,690 $6,671 $6,671 0.00 $6,671
FX Forward|USD|03/04/2026 +EUR2 - - -6,722 $-6,722 $-6,722 0.00 $-6,722
FX Forward|EUR|03/04/2026 +EUR1 - - -95,596 $-112,076 $-112,076 -0.07 $-112,076
FX Forward|USD|03/04/2026 +EUR1 - - 112,419 $112,419 $112,419 0.07 $112,419
FX Forward|EUR|03/04/2026 +EUR2 - - 103,316 $121,127 $121,127 0.08 $121,127
FX Forward|USD|03/04/2026 +EUR2 - - -121,895 $-121,895 $-121,895 -0.08 $-121,895
FX Forward|EUR|03/04/2026 +EUR0 - - 496,250 $581,805 $581,805 0.38 $581,805
FX Forward|USD|03/04/2026 +EUR0 - - -585,493 $-585,493 $-585,493 -0.38 $-585,493
FX Forward|EUR|03/04/2026 +EUR0 - - -650,650 $-762,823 $-762,823 -0.49 $-762,823
FX Forward|USD|03/04/2026 +EUR0 - - 764,542 $764,542 $764,542 0.50 $764,542
FX Forward|JPY|03/04/2026 +JPYU - - -23,509,550 $-149,113 $-149,113 -0.10 $-149,113
FX Forward|USD|03/04/2026 +JPYU - - 150,242 $150,242 $150,242 0.10 $150,242
FX Forward|EUR|03/04/2026 +EUR1 - - -1,931,350 $-2,264,319 $-2,264,319 -1.47 $-2,264,319
FX Forward|USD|03/04/2026 +EUR1 - - 2,269,421 $2,269,421 $2,269,421 1.47 $2,269,421
FX Forward|EUR|03/04/2026 +EUR1 - - 4,170 $4,889 $4,889 0.00 $4,889
FX Forward|USD|03/04/2026 +EUR1 - - -4,914 $-4,914 $-4,914 0.00 $-4,914
FX Forward|EUR|03/04/2026 +EURU - - -498,750 $-584,736 $-584,736 -0.38 $-584,736
FX Forward|USD|03/04/2026 +EURU - - 585,288 $585,288 $585,288 0.38 $585,288
FX Forward|EUR|03/04/2026 +EUR3 - - 103,559 $121,413 $121,413 0.08 $121,413
FX Forward|USD|03/04/2026 +EUR3 - - -121,533 $-121,533 $-121,533 -0.08 $-121,533
FX Forward|EUR|03/04/2026 +EURU - - 502,920 $589,624 $589,624 0.38 $589,624
FX Forward|USD|03/04/2026 +EURU - - -590,397 $-590,397 $-590,397 -0.38 $-590,397
FX Forward|EUR|03/04/2026 +EUR5 - - 2,601 $3,050 $3,050 0.00 $3,050
FX Forward|USD|03/04/2026 +EUR5 - - -3,051 $-3,051 $-3,051 0.00 $-3,051
FX Forward|EUR|03/04/2026 +EURU - - -997,500 $-1,169,471 $-1,169,471 -0.76 $-1,169,471
FX Forward|USD|03/04/2026 +EURU - - 1,168,970 $1,168,970 $1,168,970 0.76 $1,168,970
FX Forward|EUR|03/04/2026 +EURU - - 19,847 $23,268 $23,268 0.02 $23,268
FX Forward|USD|03/04/2026 +EURU - - -23,259 $-23,259 $-23,259 -0.02 $-23,259
FX Forward|EUR|03/04/2026 +EURU - - 108,160 $126,807 $126,807 0.08 $126,807
FX Forward|USD|03/04/2026 +EURU - - -126,492 $-126,492 $-126,492 -0.08 $-126,492
FX Forward|EUR|03/04/2026 +EUR2 - - -46,297 $-54,279 $-54,279 -0.04 $-54,279
FX Forward|USD|03/04/2026 +EUR2 - - 54,036 $54,036 $54,036 0.04 $54,036
FX Forward|JPY|03/04/2026 +JPYU - - 34,178,294 $216,781 $216,781 0.14 $216,781
FX Forward|USD|03/04/2026 +JPYU - - -215,948 $-215,948 $-215,948 -0.14 $-215,948
FX Forward|JPY|03/04/2026 +JPYU - - -10,668,744 $-67,668 $-67,668 -0.04 $-67,668
FX Forward|USD|03/04/2026 +JPYU - - 67,392 $67,392 $67,392 0.04 $67,392
FX Forward|EUR|03/04/2026 +EUR1 - - 6,582 $7,717 $7,717 0.00 $7,717
FX Forward|USD|03/04/2026 +EUR1 - - -7,647 $-7,647 $-7,647 0.00 $-7,647
FX Forward|EUR|03/04/2026 +EUR1 - - 188,252 $220,707 $220,707 0.14 $220,707
FX Forward|USD|03/04/2026 +EUR1 - - -219,567 $-219,567 $-219,567 -0.14 $-219,567
FX Forward|EUR|03/04/2026 +EURU - - 9,359 $10,972 $10,972 0.01 $10,972
FX Forward|USD|03/04/2026 +EURU - - -10,998 $-10,998 $-10,998 -0.01 $-10,998
Janus Henderson publishes this listing of identities and quantities of each position held by the fund on each business day, before commencement of trading. Securities are reported at market value.
The portfolio data and its presentation here is based on the investment book of record and may differ from the accounting book of record and complete schedules of investments in regulatory filings due to differing accounting and reporting standards.

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