Please ensure Javascript is enabled for purposes of website accessibility Securitized Income ETF - Janus Henderson Investors - US Institutional
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For Institutional Investors in the US

Securitized Income ETF Holdings

Full Portfolio Holdings

(As of December 19, 2025)

Ticker Cusip Underlying Security Strike Price Quantity (Shares/ Par/ Units/ Contracts) Notional Value Market Value Weight % Current Market Value
GNMA II TBA 30yr 2.5% January Delivery, 2.50%, 01/22/26 G2SF 21H022614 - - 136,700,000 $118,167,581 $118,167,581 8.60 $118,167,581
Fannie Mae or Freddie Mac|5.5|01/14/2026, 5.50%, 01/14/26 FNCL 01F052615 - - 65,610,000 $66,408,474 $66,408,474 4.83 $66,408,474
UMBS TBA 30yr 5% January Delivery, 5.00%, 01/14/26 FNCL 01F050619 - - 63,560,000 $63,322,667 $63,322,667 4.61 $63,322,667
UMBS TBA 30yr 6.5% January Delivery, 6.50%, 01/14/26 FNCL 01F062614 - - 60,613,000 $62,959,329 $62,959,329 4.58 $62,959,329
UMBS TBA 30yr 6% January Delivery, 6.00%, 01/14/26 FNCL 01F060618 - - 57,605,000 $59,047,429 $59,047,429 4.29 $59,047,429
UMBS TBA 30yr 3.5% February Delivery, 3.50%, 02/12/26 FNCL 01F032625 - - 30,930,000 $28,478,148 $28,478,148 2.08 $28,478,148
UMBS TBA 30yr 4.5% January Delivery, 4.50%, 01/14/26 FNCL 01F042616 - - 25,880,000 $25,235,510 $25,235,510 1.84 $25,235,510
UMBS TBA 30yr 3% January Delivery, 3.00%, 01/14/26 FNCL 01F030611 - - 25,640,000 $22,660,760 $22,660,760 1.65 $22,660,760
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2025-HQA1 M2 5.7218% 25-FEB-2045, 5.72%, 02/25/45 STACR 2025-HQA1 35564NHA4 - - 16,814,815 $16,863,527 $16,863,527 1.23 $16,791,369
CENT Trust 2025-CITY A 4.919988% 10-JUL-2040, 4.92%, 07/10/40 CENT 2025-CITY 12517TAA5 - - 12,635,000 $12,833,922 $12,833,922 0.94 $12,797,659
Fannie Mae REMIC Trust 2025-12 FC 5.1718% 25-MAR-2055, 5.17%, 03/25/55 FNR 2025-12 3136BVFC7 - - 12,633,350 $12,718,809 $12,718,809 0.93 $12,669,806
Orion CLO 2023-1 A1R 5.12924% 25-OCT-2038, 5.13%, 10/25/38 ANTOR 2023-1A 68626CAJ3 - - 12,500,000 $12,565,096 $12,565,096 0.92 $12,506,324
ALA Trust 2025-OANA A 5.49363% 15-JUN-2040, 5.49%, 06/15/40 ALA 2025-OANA 009920AA7 - - 12,053,651 $12,123,239 $12,123,239 0.88 $12,110,363
OHA CREDIT FUNDING 24 FLTG 2039 A2, 5.29%, 01/20/39 OAKC 2025-24A 67123CAC8 - - 12,000,000 $12,022,800 $12,022,800 0.88 $12,022,800
PRPM 2025-5 0%30, 5.73%, 07/25/30 PRPM 2025-5 69392RAA9 - - 11,716,470 $11,803,405 $11,803,405 0.86 $11,708,313
Freddie Mac Multiclass Certificates, Series 5544 FC 5.0718% 25-JUN-2055, 5.07%, 06/25/55 FHR 5544 3137HLNP3 - - 11,442,413 $11,538,127 $11,538,127 0.84 $11,494,602
AB BSL CLO 1 A2R2 5.46673% 15-OCT-2038, 5.47%, 10/15/38 ABBSL 2020-1A 00038KBL4 - - 11,000,000 $11,097,845 $11,097,845 0.81 $11,019,337
FIGRE Trust 2025-HE3 A 5.56% 25-MAY-2055, 5.56%, 05/25/55 FIGRE 2025-HE3 31684LAA9 - - 10,688,288 $10,881,692 $10,881,692 0.79 $10,797,504
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA2 M2 7.8218% 25-FEB-2042, 7.82%, 02/25/42 STACR 2022-DNA2 35564KRN1 - - 10,489,989 $10,866,496 $10,866,496 0.79 $10,804,958
Apld Computeco LLC 9.25% 15-DEC-2030, 9.25%, 12/15/30 APLD 00202DAA5 - - 10,892,000 $10,706,800 $10,706,800 0.78 $10,617,244
BX Commercial Mortgage Trust 2024-XL4 A 5.19215% 15-FEB-2039, 5.19%, 02/15/39 BX 2024-XL4 05611VAA9 - - 10,613,938 $10,631,698 $10,631,698 0.78 $10,620,982
Libra Solutions 2025-1 A 6.355% 15-AUG-2039, 6.36%, 08/15/39 OASIS 2025-1A 53161AAA9 - - 10,200,000 $10,290,308 $10,290,308 0.75 $10,277,704
WB Commercial Mortgage Trust 2024-HQ A 5.9365% 16-MAR-2040, 5.94%, 03/15/40 WB 2024-HQ 92943PAA9 - - 10,000,000 $10,029,990 $10,029,990 0.73 $9,995,360
ARES LV CLO FLTG 2039, 0.00%, 01/15/39 ARES 2025-78A 03990NAC9 - - 10,000,000 $10,000,000 $10,000,000 0.73 $10,000,000
BX Trust 2025-VLT7 E 7.50012% 15-JUL-2044, 7.50%, 07/15/44 BX 2025-VLT7 123913AJ4 - - 9,966,000 $9,942,675 $9,942,675 0.72 $9,928,141
BX Trust 2024-FNX A 5.19242% 15-NOV-2041, 5.19%, 11/15/41 BX 2024-FNX 05593TAA6 - - 9,892,917 $9,904,959 $9,904,959 0.72 $9,894,971
Vista Point Securitization Trust 2025-CES2 A1 5.601% 25-AUG-2055, 5.60%, 08/25/55 VSTA 2025-CES2 92842UAA0 - - 9,114,200 $9,218,192 $9,218,192 0.67 $9,145,874
Flash Compute LLC|7.25|12/31/2030, 7.25%, 12/31/30 FLASHC 33853QAA9 - - 8,932,000 $8,932,000 $8,932,000 0.65 $8,932,000
Olympic Tower 2017-OT A 3.566% 10-MAY-2039, 3.57%, 05/10/39 OT 68162MAA0 - - 9,025,000 $8,705,599 $8,705,599 0.63 $8,686,826
METRONET INFRASTRUCTURE ISSU 5.4% 55, 5.40%, 08/20/55 MNET 2025-2A 59170JAX6 - - 8,200,000 $8,352,591 $8,352,591 0.61 $8,313,231
Regatta XXIV Funding Ltd., 5.23%, 01/25/39 REG26 2023-2A 75900QAQ8 - - 8,300,000 $8,310,237 $8,310,237 0.61 $8,298,173
BAIN CAPITAL CREDIT CLO 2018-1, 5.24%, 01/19/39 BCC 2025-5A 056917AC1 - - 8,000,000 $8,026,400 $8,026,400 0.59 $8,026,400
CBAMR 2018-8 Ltd., 5.21%, 03/20/38 CBAMR 2019-11RA 14988AAC8 - - 8,000,000 $8,020,557 $8,020,557 0.58 $7,999,698
RCKT MORTGAGE TRUST 2025-CE 7.12% 34, 7.12%, 07/25/34 RCKTL 2025-1A 74939RAE1 - - 7,900,000 $7,820,324 $7,820,324 0.57 $7,778,138
PMT LOAN TRUST 2025-J3 FLTG 2056 A3, 5.47%, 11/27/56 PMTLT 2025-J3 69392XBM9 - - 7,747,385 $7,802,696 $7,802,696 0.57 $7,769,616
Radian Mortgage Capital Trust 2025-J4 A25 5.73078% 25-MAR-2056, 5.62%, 03/25/56 RMCT 2025-J4 75024UBP1 - - 7,728,866 $7,776,337 $7,776,337 0.57 $7,743,749
WULF Compute LLC 7.75% 15-OCT-2030, 7.75%, 10/15/30 WULF 982911AA7 - - 7,439,000 $7,722,399 $7,722,399 0.56 $7,627,913
OBX 2025-J3 TRUST FLTG 2055 AF, 5.57%, 10/25/55 OBX 2025-J3 67449KAU7 - - 7,657,400 $7,689,219 $7,689,219 0.56 $7,657,220
Extended Stay America Trust 2025-ESH B 5.35012% 15-OCT-2042, 5.35%, 10/15/42 ESA 2025-ESH 30227TAC4 - - 7,500,000 $7,529,132 $7,529,132 0.55 $7,521,330
Affirm Master Trust Series 2025-2 D 5.6% 15-JUL-2033, 5.60%, 07/15/33 AFRMT 2025-2A 00833BAK4 - - 7,500,000 $7,527,197 $7,527,197 0.55 $7,519,030
HILT 2025-NVIL A 5.49312% 15-JUL-2042, 5.49%, 07/15/42 HILT 2025-NVIL 432826AA3 - - 7,400,000 $7,422,663 $7,422,663 0.54 $7,414,759
NYC Commercial Mortgage Trust 2025-1155 A 5.8329% 10-JUN-2042, 5.83%, 06/10/42 NYC 2025-1155 67122BAA5 - - 7,007,000 $7,206,890 $7,206,890 0.53 $7,183,049
Affirm Master Trust Series 2025-3 D 5.09% 15-OCT-2034, 5.09%, 10/16/34 AFRMT 2025-3A 00833BAR9 - - 7,274,000 $7,172,543 $7,172,543 0.52 $7,165,344
Connecticut Avenue Securities Trust 2025-R01 1M1 5.1718% 25-JAN-2045, 5.17%, 01/25/45 CAS 2025-R01 20755JAB9 - - 6,871,463 $6,901,549 $6,901,549 0.50 $6,874,895
BX Commercial Mortgage Trust 2024-AIRC A 5.44124% 15-AUG-2041, 5.44%, 08/15/41 BX 2024-AIRC 12433CAA3 - - 6,881,035 $6,896,584 $6,896,584 0.50 $6,889,303
KRE Commercial Mortgage Trust 2025-AIP4 A 5.05012% 15-MAR-2042, 5.05%, 03/15/42 KRE 2025-AIP4 50077KAA6 - - 6,902,000 $6,894,090 $6,894,090 0.50 $6,889,249
PRPM 2025-RCF6 LLC 6.4% 55, 5.50%, 12/25/55 PRPM 2025-RCF6 69393BAC9 - - 6,852,000 $6,854,622 $6,854,622 0.50 $6,801,234
Saluda Grade Alternative Mortgage Trust 2024-RTL4 A2 7.5% 25-FEB-2030, 7.50%, 02/25/30 GRADE 2024-RTL4 79584CAB7 - - 6,705,500 $6,713,567 $6,713,567 0.49 $6,684,230
RAD CLO 31 FLTG 2039 A1B, 5.13%, 04/17/39 RAD 2025-31A 74939NAC4 - - 6,600,000 $6,636,760 $6,636,760 0.48 $6,633,000
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA6 B2 11.5718% 25-OCT-2041, 11.57%, 10/25/41 STACR 2021-DNA6 35564KLV9 - - 6,250,000 $6,632,270 $6,632,270 0.48 $6,533,758
Cipher Compute LLC 7.125% 15-NOV-2030, 7.12%, 11/15/30 CIFR 17253NAA5 - - 6,464,000 $6,620,990 $6,620,990 0.48 $6,571,096
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA3 B2 10.3218% 25-SEP-2041, 10.32%, 09/25/41 STACR 2021-HQA3 35564KKL2 - - 6,288,000 $6,521,388 $6,521,388 0.48 $6,472,710
Westlake Automobile Receivables Trust 2025-2 D 5.08% 15-MAY-2031, 5.08%, 05/15/31 WLAKE 2025-2A 96041KAG9 - - 6,450,000 $6,482,249 $6,482,249 0.47 $6,475,877
Homeward Opportunities Fund Trust 2025-RRTL1 A1 5.476% 25-MAR-2040, 5.48%, 03/25/40 HOF 2025-RRTL1 437919AA1 - - 6,411,000 $6,474,681 $6,474,681 0.47 $6,448,351
Chase Mortgage Reference Notes, Series 2020-CL1 M1 6.29348% 25-OCT-2057, 6.32%, 10/25/57 CHASE 2020-CL1 46591HAG5 - - 6,157,208 $6,377,845 $6,377,845 0.46 $6,348,666
SMRT Commercial Mortgage Trust 2022-MINI D 5.70012% 15-JAN-2039, 5.70%, 01/15/39 SMRT 2022-MINI 78457JAL6 - - 6,250,000 $6,237,504 $6,237,504 0.45 $6,230,576
BLP Commercial Mortgage Trust 2024-IND2 A 5.09227% 15-MAR-2041, 5.09%, 03/15/41 BLP 2024-IND2 05625AAA9 - - 6,236,454 $6,233,226 $6,233,226 0.45 $6,227,051
HPEFS EQUIPMENT TRUST 2025-2 0% 33, 4.77%, 05/20/33 HPEFS 2025-2A 442927AF6 - - 6,000,000 $6,027,812 $6,027,812 0.44 $6,002,372
BX Trust 2025-TAIL D 6.20012% 15-JUN-2035, 6.20%, 06/15/35 BX 2025-TAIL 123912AG2 - - 6,000,000 $6,007,228 $6,007,228 0.44 $5,999,995
PRET 2025-RPL1 Trust A1 4.0% 25-JUL-2069, 4.00%, 07/25/69 PRET 2025-RPL1 69392FAA5 - - 6,130,299 $5,986,118 $5,986,118 0.44 $5,951,379
FS Commercial Mortgage Trust 2023-4SZN D 9.08008% 10-NOV-2039, 9.08%, 11/10/39 FS 2023-4SZN 30334RAG9 - - 5,750,000 $5,918,436 $5,918,436 0.43 $5,887,980
PRET 2025-RPL3 Trust A1 4.15% 25-APR-2065, 4.15%, 04/25/65 PRET 2025-RPL3 69382RAA1 - - 5,939,266 $5,892,323 $5,892,323 0.43 $5,857,405
BX Trust 2024-CNYN D 6.44021% 15-APR-2041, 6.44%, 04/15/41 BX 2024- CNYN 05612HAG6 - - 5,769,688 $5,792,356 $5,792,356 0.42 $5,785,131
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA3 M2 6.1718% 25-SEP-2041, 6.17%, 09/25/41 STACR 2021-HQA3 35564KJP5 - - 5,568,144 $5,642,435 $5,642,435 0.41 $5,616,661
QTS ISSUER ABS I 5.439%55, 5.44%, 05/25/55 QTS 2025-1A 74690DAA9 - - 5,517,000 $5,576,895 $5,576,895 0.41 $5,554,390
PRPM 2025-RCF5 5.31%55 A2, 5.31%, 10/25/55 PRPM 2025-RCF5 69384AAB4 - - 5,500,000 $5,543,984 $5,543,984 0.40 $5,502,610
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2025-DNA2 M2 5.5718% 25-MAY-2045, 5.57%, 05/25/45 STACR 2025-DNA2 35564NJA2 - - 5,510,949 $5,526,398 $5,526,398 0.40 $5,503,369
New Residential Mortgage LLC 6.545% 25-MAR-2032, 6.54%, 03/25/32 NZES 2025-FHT 64832EAA7 - - 5,374,803 $5,484,705 $5,484,705 0.40 $5,458,321
Marlette Funding Trust 2025-1 D 6.02% 15-JUL-2035, 6.02%, 07/16/35 MFT 2025-1A 570920AD0 - - 5,368,000 $5,418,953 $5,418,953 0.40 $5,412,669
Connecticut Avenue Securities, Series 2021-R03 1M2 5.7218% 25-DEC-2041, 5.72%, 12/25/41 CAS 2021-R03 20754AAB9 - - 5,331,472 $5,385,048 $5,385,048 0.39 $5,362,169
Luxury Lease Partners Auto Lease Trust 2025-A|5.51|03/15/2032, 5.51%, 03/15/32 LLP 2025-A 55069BAA5 - - 5,280,000 $5,298,319 $5,298,319 0.39 $5,294,278
ABL 2024-RTL1 A2 7.457% 25-SEP-2029, 7.46%, 09/25/29 ABL 2024-RTL1 00092EAB4 - - 5,160,000 $5,211,565 $5,211,565 0.38 $5,182,707
FIGRE TRUST 2025-HE5 FLTG 2055 B, 5.49%, 08/25/55 FIGRE 2025-HE5 31684MAB5 - - 5,144,513 $5,200,134 $5,200,134 0.38 $5,160,159
BX Commercial Mortgage Trust 2021-VOLT E 6.073% 15-SEP-2036, 6.07%, 09/15/36 BX 2021-VOLT 05609VAN5 - - - $5,192,908 $5,192,908 0.38 $0
Connecticut Avenue Securities Trust 2025-R04 25-MAY-2045, 5.57%, 05/25/45 CAS 2025-R04 20755TAC5 - - 5,168,240 $5,182,837 $5,182,837 0.38 $5,161,239
NYC Commercial Mortgage Trust 2025-1155 D 7.358% 10-JUN-2042, 7.36%, 06/10/42 NYC 2025-1155 67122BAE7 - - 5,000,000 $5,168,799 $5,168,799 0.38 $5,147,338
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 B2 11.8718% 25-NOV-2041, 11.87%, 11/25/41 STACR 2021-DNA7 35564KNE5 - - 4,800,000 $5,111,283 $5,111,283 0.37 $5,068,545
Ares LXXI CLO A2 5.58444% 20-APR-2037, 5.99%, 04/20/37 ARES 2024-71A 04020MAC3 - - 5,000,000 $5,065,849 $5,065,849 0.37 $5,014,241
SALUDA GR ALT MTG TR 2025-LOC5 A1B, 5.75%, 10/25/55 GRADE 2025-LOC5 79581XAC2 - - 5,000,000 $5,039,310 $5,039,310 0.37 $5,017,732
RCKT Mortgage Trust 2025-CES4 A1A 5.811% 25-APR-2055, 5.81%, 05/25/55 RCKT 2025-CES4 74937YAA6 - - 4,927,679 $5,031,411 $5,031,411 0.37 $4,990,845
Foundation Finance Trust 2025-2 C 5.09% 15-APR-2052, 5.09%, 04/15/52 FFIN 2025-2A 35042NAC9 - - 5,000,000 $5,018,754 $5,018,754 0.37 $5,013,806
GOLDENTREE LOAN MANAGEM US 1 FLTG, 5.24%, 01/20/39 GLM 2025-27A 38140AAE8 - - 5,000,000 $5,011,554 $5,011,554 0.37 $4,998,458
COMPASS DATACENTERS 2025-1 B1, 5.76%, 05/25/50 CMPDC 2025-1A 20469CAC9 - - 5,000,000 $4,994,808 $4,994,808 0.36 $4,973,223
BX Trust 2025-DIME E 6.75012% 15-FEB-2035, 6.75%, 02/15/35 BX 2025-DIME 05613UAJ0 - - 5,000,000 $4,984,692 $4,984,692 0.36 $4,978,130
Avis Budget Rental Car Funding (AESOP) Series 2021-1 D 3.71% 20-AUG-2027, 3.71%, 08/20/27 AESOP 2021-1A 05377REL4 - - 5,000,000 $4,974,388 $4,974,388 0.36 $4,957,899
FHF ISSUER TRUST 2024-1 0% 30, 5.75%, 05/15/30 FHF 2025-2A 30343DAB0 - - 4,891,000 $4,904,004 $4,904,004 0.36 $4,898,536
SCG Commercial Mortgage Trust 2025-DLFN E 6.70012% 15-MAR-2035, 6.70%, 03/15/35 SCG 2025 78398EAJ4 - - 4,904,000 $4,879,773 $4,879,773 0.36 $4,873,384
Fannie Mae REMIC Trust 2025-9 FA 5.2718% 25-MAR-2055, 5.27%, 03/25/55 FNR 2025-9 3136BVDC9 - - 4,825,163 $4,866,922 $4,866,922 0.35 $4,847,845
FHLMC STACR REMIC TR 2025-DNA3 M1, 5.17%, 09/25/45 STACR 2025-DNA3 35564UAR8 - - 4,838,961 $4,862,438 $4,862,438 0.35 $4,843,669
Chase Auto Credit Linked Notes, Series 2025-1 E 6.024% 25-JUN-2033, 6.02%, 02/25/33 CACLN 2025-1 46591HCV0 - - 4,854,466 $4,857,776 $4,857,776 0.35 $4,835,843
PRET 2025-NPL4 A1 6.3677% 25-MAY-2055, 6.37%, 04/25/55 PRET 2025-NPL4 74136UAA3 - - 4,809,009 $4,850,488 $4,850,488 0.35 $4,827,522
TOWD POINT MORTGAGE TRUST 2025 0% 65, 4.97%, 09/25/65 TPMT 2025-FIX1 89183MAA1 - - 4,816,005 $4,845,198 $4,845,198 0.35 $4,811,303
Saluda Grade Alternative Mortgage Trust 2024-RTL4 A1 7.5% 25-FEB-2030, 7.50%, 02/25/30 GRADE 2024-RTL4 79584CAA9 - - 4,722,485 $4,787,973 $4,787,973 0.35 $4,737,796
BX Commercial Mortgage Trust 2024-MF D 6.43994% 15-FEB-2039, 6.44%, 02/15/39 BX 2024-MF 05612EAG3 - - 4,737,182 $4,753,401 $4,753,401 0.35 $4,747,469
JERSEY MIKES FUNDING LLC 5.61% 55, 5.61%, 08/16/55 JMIKE 2025-1A 476681AE1 - - 4,588,500 $4,707,311 $4,707,311 0.34 $4,680,854
PRPM 2025 RCF4 LLC 4.5% 55, 4.50%, 08/25/55 PRPM 2025-RCF4 69382WAB8 - - 4,800,000 $4,707,060 $4,707,060 0.34 $4,676,460
BX Commercial Mortgage Trust 2024-BIO2 D 7.71271% 15-AUG-2041, 7.71%, 08/13/41 BX 2024-BIO2 05613GAG7 - - 4,702,000 $4,616,250 $4,616,250 0.34 $4,595,096
ALLY BK AUTO CR LKD NT 2025-B E, 6.16%, 09/15/33 ABCLN 2025-B 02007G6S7 - - 4,612,330 $4,609,943 $4,609,943 0.34 $4,604,414
Chase Mortgage Reference Notes, Series 2020-CL1 M2 6.54348% 25-OCT-2057, 6.57%, 10/25/57 CHASE 2020-CL1 46591HAH3 - - 4,447,855 $4,607,042 $4,607,042 0.34 $4,585,129
Lendbuzz Securitization Trust 2024-2 C 7.45% 15-MAY-2031, 7.45%, 05/15/31 LBZZ 2024-2A 525920AD6 - - 4,500,000 $4,579,292 $4,579,292 0.33 $4,572,773
Compass Datacenters Issuer II, Series 2024-2 B1_2402 25-AUG-2049, 6.00%, 08/25/49 CMPDC 2024-2A 20469AAE9 - - 4,500,000 $4,557,347 $4,557,347 0.33 $4,537,101
OnDeck Asset Securitization IV, Series 2025-1 B 5.52% 17-APR-2032, 5.52%, 04/19/32 ONDK 2025-1A 68237DAB9 - - 4,500,000 $4,543,754 $4,543,754 0.33 $4,540,304
NRTH Commercial Mortgage Trust 2025-PARK B 5.39304% 15-OCT-2040, 5.39%, 10/15/40 NRTH 2025-PARK 669985AC7 - - 4,500,000 $4,516,615 $4,516,615 0.33 $4,511,896
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA4 B2 11.0718% 25-DEC-2041, 11.07%, 12/25/41 STACR 2021-HQA4 35564KPP8 - - 4,263,254 $4,511,833 $4,511,833 0.33 $4,476,432
PRPM 2025-RCF3, LLC, 5.77%, 08/25/28 PRPM 2025-6 69395KAA1 - - 4,452,440 $4,489,268 $4,489,268 0.33 $4,452,848
NRM MSR-Collateralized Notes, Series 2024-FNT1 A 7.398% 25-NOV-2029, 7.40%, 11/25/31 NZES 2024-FNT1 62956YAA7 - - 4,393,695 $4,461,153 $4,461,153 0.33 $4,436,775
Hotwire Funding, Series 2021-1 C_2021_1 4.459% 20-NOV-2051, 4.46%, 11/20/51 HWIRE 2021-1 44148JAC3 - - 4,500,000 $4,442,943 $4,442,943 0.32 $4,425,107
Truist Bank Auto Credit Linked Notes, Series 2025-1 C 6.807% 25-SEP-2033, 6.81%, 09/26/33 TACLN 2025-1 897926CC3 - - 4,403,742 $4,425,731 $4,425,731 0.32 $4,403,249
Fora Financial Asset Securitization, Series 2024-1 A 6.33% 15-MAY-2027, 6.33%, 08/15/29 FORA 2024-1A 34512PAA2 - - 4,333,000 $4,368,032 $4,368,032 0.32 $4,362,699
GWT Commercial Mortgage Trust 2024-WLF2 E 7.38855% 15-MAY-2041, 7.39%, 05/15/41 GWT 2024-WLF2 362414AJ3 - - 4,322,000 $4,341,748 $4,341,748 0.32 $4,335,539
Sotheby's ArtFi Master Trust, Series 2024-1 C 6.83% 20-DEC-2031, 6.83%, 12/22/31 ARTFI 2024-1A 83589CAD0 - - 4,250,000 $4,339,530 $4,339,530 0.32 $4,265,349
TOWD POINT MORTGAGE TRUS 5.98666% 65, 5.72%, 07/25/65 TPMT 2025-HE1 89183LAD7 - - 4,300,000 $4,334,057 $4,334,057 0.32 $4,315,857
Taco Bell Funding Series 2021-1 A2I 1.946% 25-AUG-2051, 1.95%, 08/25/51 BELL 2021-1A 87342RAG9 - - 4,440,900 $4,324,847 $4,324,847 0.32 $4,318,366
COMM 2024-WCL1 Mortgage Trust D 7.04% 17-JUN-2041, 7.04%, 06/15/41 COMM 2024-WCL1 20047DAG9 - - 4,250,000 $4,253,944 $4,253,944 0.31 $4,248,127
RCKT Mortgage Trust 2025-CES5 A1A 5.687% 25-MAY-2055, 5.69%, 05/25/55 RCKT 2025-CES5 74942CAA7 - - 4,163,608 $4,243,937 $4,243,937 0.31 $4,210,393
MTN Commercial Mortgage Trust 2022-LPFL A 5.1569% 15-MAR-2039, 5.16%, 03/15/39 MTN 2022-LPFL 62475WAA3 - - 4,240,000 $4,238,501 $4,238,501 0.31 $4,234,249
IRV Trust 2025-200P C 5.73037% 14-MAR-2047, 5.73%, 03/14/47 IRV 2025-200P 45006HAE1 - - 4,200,000 $4,235,345 $4,235,345 0.31 $4,221,306
FIGRE TRUST 2025-FL1 5.467% 55, 5.47%, 07/25/55 FIGRE 2025-FL1 31684QAB6 - - 4,125,463 $4,162,594 $4,162,594 0.30 $4,130,642
BX Trust 2024-VLT4 E 6.639524% 15-JUN-2041, 6.64%, 06/15/41 BX 2024-VLT4 05612TAJ4 - - 4,147,000 $4,140,881 $4,140,881 0.30 $4,135,527
Drive Auto Receivables Trust 2025-1 D 5.41% 15-SEP-2032, 5.41%, 09/15/32 DRIVE 2025-1 262102AF3 - - 4,077,000 $4,139,859 $4,139,859 0.30 $4,135,570
Saluda Grade Alternative Mortgage Trust 2023-FIG4 A 6.718% 25-NOV-2053, 6.72%, 11/25/53 GRADE 2023-FIG4 79581UAA2 - - 3,954,935 $4,127,225 $4,127,225 0.30 $4,089,586
Citigroup Mortgage Loan Trust 2025-LTV1 A1 5.237% 25-DEC-2055, 5.24%, 12/25/55 CMLTI 2025-LTV1 17332XAA8 - - 4,068,000 $4,085,045 $4,085,045 0.30 $4,072,618
Structured Agency Credit Risk (STACR) Debt Notes, Series 2022-HQA1 M2 9.3218% 25-MAR-2042, 9.32%, 03/25/42 STACR 2022-HQA1 35564KTJ8 - - 3,856,000 $4,075,761 $4,075,761 0.30 $4,048,803
BLP Trust 2025-IND2 D 6.40012% 15-DEC-2042, 6.40%, 12/15/42 BLP 2025-IND2 05556WAG1 - - 4,000,000 $4,024,048 $4,024,048 0.29 $4,004,384
BX Trust 2024-BRBK A 6.62976% 15-OCT-2041, 6.61%, 10/15/41 BX 2024-BRBK 05613NAA5 - - 3,991,885 $4,013,294 $4,013,294 0.29 $4,008,160
Affirm Asset Securitization Trust 2025-X2 D 5.23% 15-OCT-2030, 5.23%, 10/15/30 AFFRM 2025-X2 00835DAD4 - - 4,000,000 $3,989,053 $3,989,053 0.29 $3,984,985
JP MORGAN MORTGAGE TRUST 2 5.777% 55, 5.50%, 11/25/55 JPMMT 2025-5MPR 46593VAD9 - - 3,940,439 $3,983,465 $3,983,465 0.29 $3,952,762
JP Morgan Mortgage Trust 2024-CES1 A1B 6.019% 25-JUN-2054, 6.02%, 06/25/54 JPMMT 2024-CES1 46658CAB7 - - 3,830,639 $3,885,286 $3,885,286 0.28 $3,852,622
RCKT MOR 2025-CES9 FLT 2055 A1B, 5.00%, 09/25/55 RCKT 2025-CES9 74942JAB0 - - 3,853,037 $3,873,005 $3,873,005 0.28 $3,845,729
COOPR Residential Mortgage Trust 2025-CES1 A1A 5.654% 25-MAY-2060, 5.65%, 05/25/60 COOPR 2025-CES1 12596SAA1 - - 3,804,844 $3,872,303 $3,872,303 0.28 $3,841,827
LHOME Mortgage Trust 2024-RTL5 A2 5.751% 25-SEP-2039, 5.75%, 09/25/39 LHOME 2024-RTL5 50205WAB3 - - 3,766,000 $3,807,181 $3,807,181 0.28 $3,790,937
BX Trust 2025-ARIA C 5.517301% 13-DEC-2042, 5.52%, 12/13/42 BX 2025-ARIA 05619TAE8 - - 3,760,000 $3,798,095 $3,798,095 0.28 $3,781,383
FREMF 2023-K511 Mortgage Trust C 5.634469% 25-NOV-2028, 5.82%, 11/25/28 FREMF 2023-K511 30334FAG5 - - 4,000,000 $3,797,446 $3,797,446 0.28 $3,764,452
BMP Commercial Mortgage Trust 2024-MF23 D 6.14061% 15-JUN-2041, 6.14%, 06/15/41 BMP 2024-MF23 05593JAG5 - - 3,750,000 $3,761,322 $3,761,322 0.27 $3,756,844
Vontive Mortgage Trust 2025-RTL1 A1 6.507% 25-MAR-2030, 6.51%, 03/25/30 VNTV 2025-RTL1 928884AA3 - - 3,672,000 $3,757,806 $3,757,806 0.27 $3,739,886
Extended Stay America Trust 2025-ESH E 7.10012% 15-OCT-2042, 7.10%, 10/15/42 ESA 2025-ESH 30227TAJ9 - - 3,675,000 $3,705,178 $3,705,178 0.27 $3,700,104
Extended Stay America Trust 2025-ESH D 6.35012% 15-OCT-2042, 6.35%, 10/15/42 ESA 2025-ESH 30227TAG5 - - 3,675,000 $3,702,470 $3,702,470 0.27 $3,697,932
Sierra Timeshare 2025-2 Receivables Funding D 6.79% 20-APR-2044, 6.79%, 04/20/44 SRFC 2025-2A 82653HAD2 - - 3,701,405 $3,690,869 $3,690,869 0.27 $3,668,529
RCKT MORTGAGE TRUST 2025-C 5.212% 55, 4.97%, 11/25/55 RCKT 2025-CES11 749423AA7 - - 3,658,000 $3,685,043 $3,685,043 0.27 $3,659,309
Chase Auto Owner Trust 2025-1 D 5.24% 25-NOV-2032, 5.24%, 11/26/32 CHAOT 2025-1A 16145NAG6 - - 3,600,000 $3,633,887 $3,633,887 0.26 $3,619,739
Carvana Auto Receivables Trust 2021-N3 E 3.16% 10-JUN-2028, 3.16%, 06/12/28 CRVNA 2021-N3 14687GAF2 - - 3,708,306 $3,632,351 $3,632,351 0.26 $3,628,445
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2025-HQA1 M1 5.2218% 25-FEB-2045, 5.22%, 02/25/45 STACR 2025-HQA1 35564NGZ0 - - 3,575,767 $3,592,826 $3,592,826 0.26 $3,578,822
BX Commercial Mortgage Trust 2024-XL5 D 6.43992% 15-MAR-2041, 6.44%, 03/15/41 BX 2024-XL5 05612GAG8 - - 3,570,000 $3,577,908 $3,577,908 0.26 $3,573,437
BX Trust 2025-LUNR D 6.25012% 15-JUN-2040, 6.25%, 06/15/40 BX 2025-LUNR 05594CAK0 - - 3,550,721 $3,567,737 $3,567,737 0.26 $3,563,422
DROP Mortgage Trust 2021-FILE A 5.015% 15-OCT-2043, 5.01%, 10/15/43 DROP 2021-FILE 26210YAA4 - - 3,650,000 $3,553,863 $3,553,863 0.26 $3,550,304
SCG Trust 2025-SNIP D 6.35012% 15-SEP-2042, 6.35%, 09/15/42 SCG 2025-SNIP 78398JAG9 - - 3,500,000 $3,520,035 $3,520,035 0.26 $3,515,713
Bayview Opportunity Master Fund VII 2025-EDU1 C 5.8718% 25-JUL-2048, 5.87%, 07/27/48 BVCLN 2025-EDU1 07337GAC7 - - 3,500,320 $3,515,725 $3,515,725 0.26 $3,500,310
CSMC 2021-BHAR C 5.865% 15-NOV-2038, 5.87%, 11/15/38 CSMC 2021-BHAR 12659VAJ9 - - 3,446,000 $3,422,349 $3,422,349 0.25 $3,418,419
Homeward Opportunities Fund Trust 2024-RTL1 A2 8.57% 25-JUL-2029, 8.57%, 07/25/29 HOF 43789FAB9 - - 3,391,000 $3,413,276 $3,413,276 0.25 $3,391,480
A&D MORTGAGE TRUST 2025 NQM1 0% 70, 5.12%, 12/25/70 ADMT 2025-NQM5 00250AAC8 - - 3,360,000 $3,373,520 $3,373,520 0.25 $3,363,485
Saluda Grade Alternative Mortgage Trust 2023-FIG3 A 7.067% 25-AUG-2053, 7.07%, 08/25/53 GRADE 79582AAA5 - - 3,198,468 $3,337,526 $3,337,526 0.24 $3,305,505
BX Trust 2021-ARIA D 5.9684% 15-OCT-2036, 5.97%, 10/15/36 BX 2021-ARIA 05608RAJ4 - - - $3,316,413 $3,316,413 0.24 $0
RCKT Mortgage Trust 2024-CES9 A1B 5.683% 25-DEC-2044, 5.68%, 12/25/44 RCKT 2024-CES9 749426AB8 - - 3,256,179 $3,302,149 $3,302,149 0.24 $3,275,933
GCAT 2025-INV5 Trust|5.48551|12/25/2055, 5.49%, 12/25/55 GCAT 2025-INV5 36173VBA3 - - 3,268,000 $3,266,707 $3,266,707 0.24 $3,266,707
Compass Datacenters Issuer II, Series 2024-2 B2_2402 25-AUG-2049, 6.00%, 08/25/49 CMPDC 2024-2A 20469AAF6 - - 3,250,000 $3,255,396 $3,255,396 0.24 $3,240,773
FinBe USA Trust 2025-1 B 6.6% 15-DEC-2030, 6.60%, 12/16/30 FINBE 2025-1A 317967AB3 - - 3,250,000 $3,253,994 $3,253,994 0.24 $3,249,823
Connecticut Avenue Securities Trust 2022-R01 1B2 10.0718% 25-DEC-2041, 10.07%, 12/25/41 CAS 2022-R01 20754LAJ8 - - 3,108,409 $3,246,049 $3,246,049 0.24 $3,222,568
Wingspire Equipment Finance 2025-1 D 5.45% 20-SEP-2033, 5.45%, 09/20/33 WEF 2025-1A 97415CAE8 - - 3,194,000 $3,228,856 $3,228,856 0.24 $3,213,382
Hilton Grand Vacations Trust 2025-1 C 5.52% 25-AUG-2040, 5.52%, 05/27/42 HGVT 2025-1A 43283CAC5 - - 3,158,111 $3,210,102 $3,210,102 0.23 $3,197,027
Amur Equipment Finance Receivables XV, Series 2025-1 D 5.68% 20-AUG-2032, 5.68%, 08/20/32 AXIS 2025-1A 03237FAE5 - - 3,129,000 $3,203,588 $3,203,588 0.23 $3,187,790
SF ABS ISSUER 2025-1 0%55 A2, 5.38%, 11/25/55 SFARM 2025-1A 784193AA2 - - 3,250,000 $3,192,731 $3,192,731 0.23 $3,183,508
Galaxy XXVI CLO Ltd., 6.84%, 07/31/26 GLXYT 2025-1 362922AA4 - - 3,141,485 $3,169,628 $3,169,628 0.23 $3,158,280
LHOME Mortgage Trust 2024-RTL4 A2 6.092% 25-JUL-2039, 6.09%, 07/25/39 LHOME 2024-RTL4 50205PAB8 - - 3,130,000 $3,159,691 $3,159,691 0.23 $3,145,390
PRPM 2025-2 A1 6.469% 25-MAY-2030, 6.47%, 05/25/30 PRPM 2025-2 69382HAA3 - - 3,119,762 $3,151,387 $3,151,387 0.23 $3,122,796
VERTICAL BRIDGE LLC 2016-1 7.728% 55, 7.45%, 08/16/55 VBTOW 2025-1A 92535VAU6 - - 3,144,000 $3,150,971 $3,150,971 0.23 $3,146,419
Libra Solutions 2025-1 B 8.055% 15-AUG-2039, 8.05%, 08/15/39 OASIS 2025-1A 53161AAB7 - - 3,100,000 $3,120,592 $3,120,592 0.23 $3,115,737
VERTICAL BRIDGE LLC 2016-1 9.383% 55, 9.38%, 08/16/55 VBTOW 2025-1A 92535VAW2 - - 3,100,000 $3,090,335 $3,090,335 0.23 $3,084,679
Homeward Opportunities Fund Trust 2024-RTL1 A1 7.12% 25-JUL-2029, 7.12%, 07/25/29 HOF 43789FAA1 - - 3,070,000 $3,086,909 $3,086,909 0.23 $3,070,515
LHOME Mortgage Trust 2024-RTL3 A1 6.9% 25-MAY-2029, 6.90%, 05/25/29 LHOME 2024-RTL3 50205GAA0 - - 3,040,000 $3,084,462 $3,084,462 0.22 $3,068,730
BX Trust 2024-BIO C 6.39012% 15-FEB-2041, 6.39%, 02/15/41 BX 2024-BIO 05612AAJ5 - - 3,107,000 $3,079,945 $3,079,945 0.22 $3,076,084
Connecticut Avenue Securities, Series 2021-R01 1B1 7.1718% 25-OCT-2041, 7.17%, 10/25/41 CAS 2021-R01 20754RAF3 - - 3,000,000 $3,056,016 $3,056,016 0.22 $3,039,879
SoFi Consumer Loan Program 2025-1 Trust D 5.72% 25-FEB-2034, 5.72%, 02/27/34 SCLP 2025-1 83406YAD3 - - 3,000,000 $3,054,000 $3,054,000 0.22 $3,041,130
FIGRE TRUST 2025-HE6 FLTG 2055 C, 5.25%, 09/25/55 FIGRE 2025-HE6 31684NAC1 - - 3,041,936 $3,051,614 $3,051,614 0.22 $3,029,011
BFLD Commercial Mortgage Trust 2025-5MW C 5.45123% 10-OCT-2042, 5.45%, 10/10/42 BFLD 2025-5MW 088921AC5 - - 3,000,000 $3,041,418 $3,041,418 0.22 $3,031,879
OnDeck Asset Securitization IV, Series 2025-2 B 5.23% 17-NOV-2032, 5.23%, 11/17/32 ONDK 2025-2A 67108SAJ7 - - 3,000,000 $3,017,966 $3,017,966 0.22 $3,015,787
Santander Bank Auto Credit-Linked Notes, Series 2024-A E 7.762% 15-JUN-2032, 7.76%, 06/15/32 SBCLN 2024-A 80290CCM4 - - 2,970,166 $3,015,719 $3,015,719 0.22 $3,011,236
SWITCH ABS ISSUER 2025-2 A2 II, 5.37%, 10/25/55 SWTCH 2025-2A 871044AU7 - - 3,000,000 $3,012,629 $3,012,629 0.22 $3,000,558
Saluda Grade Alternative Mortgage Trust 2024-RTL6 A1 7.439% 25-JUL-2030, 7.44%, 07/25/30 GRADE 2024-RTL6 79585UAA8 - - 2,941,750 $2,990,982 $2,990,982 0.22 $2,959,980
Carvana Auto Receivables Trust 2025-P3 D 5.47% 10-SEP-2033, 5.47%, 09/12/33 CRVNA 2025-P3 14688AAG2 - - 3,000,000 $2,986,806 $2,986,806 0.22 $2,981,336
BXP Trust 2017-GM E 3.4248% 13-JUN-2039, 3.42%, 06/13/39 BXP 2017-GM 056083AN8 - - 3,080,000 $2,955,609 $2,955,609 0.22 $2,949,456
SWCH Commercial Mortgage Trust 2025-DATA E 7.09034% 15-FEB-2042, 7.09%, 02/15/42 SWCH 2025-DATA 78489CAE9 - - 2,950,000 $2,927,683 $2,927,683 0.21 $2,905,672
FHF Issuer Trust 2025-1 (First Help Financial Trust) C 5.69% 15-AUG-2031, 5.69%, 08/15/31 FHF 2025-1A 30340RAE6 - - 2,854,000 $2,888,386 $2,888,386 0.21 $2,885,228
BPR Trust 2024-PMDW D 5.85% 05-NOV-2041, 5.85%, 11/05/41 BPR 2024-PMDW 05592VAJ3 - - 2,870,000 $2,872,818 $2,872,818 0.21 $2,863,024
SCG Commercial Mortgage Trust 2025-FLWR E 6.50012% 15-AUG-2042, 6.50%, 08/15/42 SCG 2025-FLWR 78438AAJ4 - - 2,867,000 $2,872,354 $2,872,354 0.21 $2,868,731
RCKT Mortgage Trust 2024-CES8 A1A 5.48955% 25-OCT-2044, 5.49%, 11/25/44 RCKT 2024-CES8 749421AA1 - - 2,787,261 $2,826,263 $2,826,263 0.21 $2,804,587
RCKT Mortgage Trust 2025-CES2 A1B 5.603% 25-FEB-2055, 5.60%, 02/25/55 RCKT 2025-CES2 74942BAB7 - - 2,785,279 $2,822,646 $2,822,646 0.21 $2,800,537
Exeter Automobile Receivables Trust 2024-3 E 7.84% 15-OCT-2031, 7.84%, 10/15/31 EART 30165AAG0 - - 2,700,000 $2,811,052 $2,811,052 0.20 $2,806,936
Lendbuzz Securitization Trust 2025-2 C 5.28% 15-APR-2031, 5.28%, 04/15/31 LBZZ 2025-2A 52611JAD2 - - 2,921,000 $2,803,768 $2,803,768 0.20 $2,800,769
Wells Fargo Commercial Mortgage Trust 2025-VTT D 6.17616% 15-MAR-2038, 6.18%, 03/15/38 WFCM 2025-VTT 94990GAG4 - - 2,776,000 $2,796,176 $2,796,176 0.20 $2,786,174
Sierra Timeshare 2025-3 Receivables Funding C 4.98% 20-AUG-2044, 4.98%, 08/22/44 SRFC 2025-3A 82650FAC1 - - 2,795,535 $2,789,380 $2,789,380 0.20 $2,777,005
Tricolor Auto Securitization Trust 2025-1 C 5.72% 15-OCT-2029, 0.00%, 10/15/29 TAST 2025-1A 89617CAC5 - - 11,502,000 $2,764,982 $2,764,982 0.20 $2,764,982
Great Wolf Trust 2024-WOLF G 9.18612% 15-MAR-2039, 9.19%, 03/15/39 GWT 2024-WOLF 39152MAN5 - - 2,750,000 $2,761,864 $2,761,864 0.20 $2,756,952
BX Trust 2025-ROIC E 6.69141% 15-FEB-2042, 6.69%, 03/15/30 BX 2025-ROIC 05593VAN3 - - 2,771,192 $2,758,596 $2,758,596 0.20 $2,754,990
A&D Mortgage Trust 2025-NQM2 A1 5.79% 25-JUN-2070, 5.79%, 06/25/70 ADMT 2025-NQM2 00250EAC0 - - 2,683,235 $2,729,951 $2,729,951 0.20 $2,707,942
Wells Fargo Commercial Mortgage Trust 2024-MGP C11 7.04811% 15-AUG-2041, 7.05%, 08/15/41 WFCM 2024-MGP 95003TAE3 - - - $2,711,399 $2,711,399 0.20 $0
New Residential Mortgage Loan Trust 2024-RTL1 A2 7.101% 25-MAR-2039, 7.10%, 03/25/39 NRMLT 2024-RTL1 64831PAB1 - - 2,677,000 $2,707,202 $2,707,202 0.20 $2,692,944
Lendbuzz Securitization Trust 2024-2 B 6.52% 15-FEB-2030, 6.52%, 07/16/29 LBZZ 2024-2A 525920AC8 - - 2,650,000 $2,688,222 $2,688,222 0.20 $2,684,862
FIGRE Trust 2024-HE3 C 6.229% 25-JUL-2054, 6.23%, 07/25/54 FIGRE 2024-HE3 31684GAC6 - - 2,646,470 $2,685,975 $2,685,975 0.20 $2,673,611
UPG HI 2025-2 ISSUER TRU 0%47 B, 5.98%, 09/25/47 UPGHI 2025-2A 90321EAB8 - - 2,665,000 $2,684,676 $2,684,676 0.20 $2,672,723
FINANCE OF AMERICA STRUC 3.28125% 74, 3.50%, 04/25/74 FASST 2024-S3 31739WAB8 - - 2,741,273 $2,683,397 $2,683,397 0.20 $2,676,201
Finance of America Structured Securities Trust, 2025-S1 A1 3.5% 25-FEB-2075, 3.50%, 02/25/75 FASST 2025-S1 31741BAB0 - - 2,753,099 $2,681,644 $2,681,644 0.20 $2,674,417
Santander Bank Auto Credit-Linked Notes, Series 2024-A F 10.171% 15-JUN-2032, 10.17%, 06/15/32 SBCLN 2024-A 80290CCN2 - - 2,605,980 $2,679,822 $2,679,822 0.20 $2,674,668
Lmdv Issuer Co LLC|5.9|12/15/2055, 5.90%, 12/15/55 LMDV 2025-1A 538908AC8 - - 2,652,000 $2,666,902 $2,666,902 0.19 $2,665,164
MHC Commercial Mortgage Trust 2021-MHC F 6.466442% 15-APR-2038, 6.47%, 04/15/38 MHC 2021-MHC 55316VAL8 - - 2,660,000 $2,666,796 $2,666,796 0.19 $2,663,452
Connecticut Avenue Securities Trust 2024-R06 1M2 5.6718% 25-SEP-2044, 5.67%, 09/25/44 CAS 2024-R06 20755RAC9 - - 2,647,442 $2,659,951 $2,659,951 0.19 $2,648,689
HILTON GRAND VACATIONS TRUS 5.12% 44, 5.12%, 05/25/44 HGVT 2025-2A 43285JAC8 - - 2,632,898 $2,647,629 $2,647,629 0.19 $2,637,518
Reach ABS Trust 2025-2 C 5.69% 15-AUG-2032, 5.69%, 08/18/32 REACH 2025-2A 75525QAC4 - - 2,593,000 $2,584,474 $2,584,474 0.19 $2,581,605
Wingspire Equipment Finance 2024-1 D 6.31% 20-SEP-2032, 6.31%, 09/20/32 WEF 2024-1A 97415AAE2 - - 2,500,000 $2,563,010 $2,563,010 0.19 $2,548,988
Connecticut Avenue Securities Trust 2024-R05 2M1 5.0718% 25-JUL-2044, 5.07%, 07/25/44 CAS 2024-R05 20754XAB9 - - 2,553,501 $2,562,894 $2,562,894 0.19 $2,553,181
ExteNet Issuer, Series 2025-1 C_251 8.272% 25-JUL-2054, 8.27%, 07/25/54 EXTNT 2025-1A 30227XAS0 - - 2,500,000 $2,557,277 $2,557,277 0.19 $2,541,767
Lendbuzz Securitization Trust 2024-1 C 7.58% 15-SEP-2030, 7.58%, 09/15/30 LBZZ 2024-1A C 525935AD4 - - 2,500,000 $2,550,312 $2,550,312 0.19 $2,546,628
Sandstone Peak III C 6.50798% 25-APR-2037, 6.51%, 04/25/37 SAND 2024-1A 799928AJ5 - - 2,500,000 $2,544,586 $2,544,586 0.19 $2,519,277
USB Auto Owner Trust 2025-1 D 5.4% 15-DEC-2032, 5.40%, 12/15/32 USCAR 2025-1A 90367VAG4 - - 2,500,000 $2,544,158 $2,544,158 0.19 $2,541,533
Western Funding Auto Loan Trust 2025-1 D 5.79% 15-JAN-2036, 5.79%, 01/15/36 WEFUN 2025-1 958250AD4 - - 2,500,000 $2,538,972 $2,538,972 0.19 $2,536,158
Coinstar Funding Series 2017-1 A2 5.216% 25-APR-2047, 5.22%, 04/25/47 COIN 2017-1A 19260MAA4 - - 2,745,000 $2,536,494 $2,536,494 0.18 $2,513,824
Huntington Bank Auto Credit-Linked Notes, Series 2025-1 C 6.34888% 20-MAR-2033, 6.35%, 03/21/33 HACLN 2025-1 446438SZ7 - - 2,518,877 $2,534,255 $2,534,255 0.18 $2,520,040
Wells Fargo Commercial Mortgage Trust 2024-1CHI C 6.22623% 15-JUL-2035, 6.23%, 07/15/35 WFCM 2024-1CHI 95003PAE1 - - 2,500,000 $2,533,562 $2,533,562 0.18 $2,524,482
Zais CLO 11 BR 5.67444% 20-JAN-2032, 5.67%, 01/20/32 ZAIS 2018-11A 98887YAQ0 - - 2,500,000 $2,529,348 $2,529,348 0.18 $2,504,522
OnDeck Asset Securitization IV, Series 2025-1 C 6.64% 17-APR-2032, 6.64%, 04/19/32 ONDK 2025-1A 68237DAC7 - - 2,500,000 $2,521,178 $2,521,178 0.18 $2,518,872
RCKTL 2025-2 0% 34, 4.95%, 11/27/34 RCKTL 2025-2A 74939HAC7 - - 2,500,000 $2,520,093 $2,520,093 0.18 $2,501,875
WB Commercial Mortgage Trust 2024-HQ C 6.90331% 16-MAR-2040, 6.90%, 03/15/40 WB 2024-HQ 92943PAE1 - - 2,500,000 $2,507,770 $2,507,770 0.18 $2,497,702
MTN Commercial Mortgage Trust 2022-LPFL B 5.6556% 15-MAR-2039, 5.66%, 03/15/39 MTN 2022-LPFL 62475WAC9 - - 2,500,000 $2,506,750 $2,506,750 0.18 $2,504,001
RCKT Mortgage Trust 2024-CES7 A1A 5.158% 25-OCT-2044, 5.16%, 10/25/44 RCKT 2024-CES7 749414AA6 - - 2,480,617 $2,504,403 $2,504,403 0.18 $2,486,277
BX Commercial Mortgage Trust 2024-AIR2 D 6.54045% 15-OCT-2041, 6.54%, 10/15/41 BX 2024-AIR2 05613QAG5 - - 2,489,072 $2,497,290 $2,497,290 0.18 $2,494,124
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA1 B2 11.1718% 25-JAN-2042, 11.17%, 01/25/42 STACR 2022-DNA1 35564KQZ5 - - 2,350,000 $2,496,642 $2,496,642 0.18 $2,476,952
FIGRE TRUST 2025-HE6 FLTG 2055 B, 5.14%, 09/25/55 FIGRE 2025-HE6 31684NAB3 - - 2,485,725 $2,494,780 $2,494,780 0.18 $2,476,665
280 Park Avenue 2017-280P Mortgage Trust B 5.352% 15-SEP-2034, 5.16%, 09/15/34 PRK 2017-280P 90205FAG5 - - 2,500,000 $2,484,198 $2,484,198 0.18 $2,481,691
Brean Asset Backed Securities Trust 2024-RM8 A2 4.5% 25-MAY-2064, 4.50%, 05/25/64 BABS 2024-RM8 10637YAB1 - - 2,560,000 $2,476,585 $2,476,585 0.18 $2,467,945
Upstart Securitization Trust 2025-3 C 5.43% 20-SEP-2035, 5.43%, 09/20/35 UPST 2025 91684FAD0 - - 2,473,000 $2,472,422 $2,472,422 0.18 $2,460,486
Saluda Grade Alternative Mortgage Trust 2023-RTL3 A1 8.0% 25-APR-2029, 8.00%, 04/25/29 GRADE 2023-RTL3 79583YAA2 - - 2,448,903 $2,464,966 $2,464,966 0.18 $2,437,212
Westlake Automobile Receivables Trust Series 2025-P1 D 5.59% 15-JUL-2032, 5.59%, 07/15/32 WLAKE 2025-P1 96043LAG5 - - 2,379,000 $2,435,462 $2,435,462 0.18 $2,432,876
Hudson's Bay Simon JV Trust 2015-HBS B10 4.9056% 05-AUG-2034, 4.91%, 08/05/34 HBCT 44422PBW1 - - 2,500,000 $2,435,139 $2,435,139 0.18 $2,427,985
PRET 2025-RPL5 TRUST FLTG 2070 A1, 4.15%, 01/25/70 PRET 2025-RPL5 69393AAA5 - - 2,463,288 $2,434,934 $2,434,934 0.18 $2,420,452
FIGRE TRUST 2025-PF2 FLTG 2055 B, 5.12%, 10/25/55 FIGRE 2025-PF2 316918AB7 - - 2,411,957 $2,416,733 $2,416,733 0.18 $2,399,248
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAA3 - - 2,372,507 $2,401,412 $2,401,412 0.18 $2,383,767
FHF Issuer Trust 2024-2 (First Help Financial) D 7.15% 15-SEP-2031, 7.15%, 09/15/31 FHF 2024-2A 30336NAJ0 - - 2,373,000 $2,392,674 $2,392,674 0.17 $2,389,374
PRM7 Trust 2025-PRM7 E 6.61844% 10-NOV-2042, 6.62%, 11/10/42 PRM7 2025-PRM7 74290HAJ5 - - 2,385,000 $2,368,316 $2,368,316 0.17 $2,359,108
Reach ABS Trust 2024-1 C 6.9% 15-FEB-2031, 6.90%, 02/18/31 REACH 2024-1A 75526PAC5 - - 2,295,000 $2,365,190 $2,365,190 0.17 $2,362,111
TOWD PT MTG TR 2025-FIX2 FLTG A1, 5.25%, 10/25/65 TPMT 2025-FIX2 89183RAA0 - - 2,338,290 $2,365,092 $2,365,092 0.17 $2,347,704
ALA Trust 2025-OANA D 6.84172% 15-JUN-2040, 6.84%, 06/15/40 ALA 2025-OANA 009920AG4 - - 2,333,000 $2,350,727 $2,350,727 0.17 $2,347,624
SREIT Commercial Mortgage Trust 2021-MFP2 F 6.4832% 15-NOV-2036, 6.48%, 11/15/36 SREIT 2021-MFP2 85236WCQ7 - - 2,334,000 $2,334,474 $2,334,474 0.17 $2,331,532
LHOME Mortgage Trust 2024-RTL1 A1 7.017% 25-JAN-2029, 7.02%, 01/25/29 LHOME 2024-RTL1 50205DAA7 - - 2,311,000 $2,330,066 $2,330,066 0.17 $2,317,904
FIGRE TRUST 2025-PF2 FLTG 2055 C, 5.22%, 10/25/55 FIGRE 2025-PF2 316918AC5 - - 2,315,479 $2,320,492 $2,320,492 0.17 $2,303,376
Connecticut Avenue Securities, Series 2021-R03 1B1 6.8218% 25-DEC-2041, 6.82%, 12/25/41 CAS 2021-R03 20754AAF0 - - 2,250,000 $2,291,746 $2,291,746 0.17 $2,280,234
Connecticut Avenue Securities Trust 2025-R06 1M1 5.0218% 25-SEP-2045, 5.02%, 09/25/45 CAS 2025-R06 20754YAB7 - - 2,260,056 $2,268,467 $2,268,467 0.17 $2,259,955
Acacia 2025-1 A 5.24% 15-NOV-2037, 5.24%, 11/15/37 ACACIA 2025-1 00401PAA7 - - 1,999,954 $2,265,129 $2,265,129 0.17 $2,002,216
EFMT 2025-CES1 A1B 5.877% 25-JAN-2060, 5.88%, 01/25/60 EFMT 2025-CES1 26846VAB0 - - 2,209,350 $2,246,319 $2,246,319 0.16 $2,227,925
BXP Trust 2017-GM D 3.4248% 13-JUN-2039, 3.42%, 06/13/39 BXP 056083AL2 - - 2,310,000 $2,241,592 $2,241,592 0.16 $2,236,977
Exeter Select Automobile Receivables Trust 2025-2 D 5.34% 15-JAN-2032, 5.34%, 01/15/32 ESART 2025-2 30185EAF0 - - 2,200,000 $2,200,765 $2,200,765 0.16 $2,198,481
GS Mortgage-Backed Securities Trust 2025-RPL3 A1 4.1% 25-JUL-2065, 4.10%, 07/25/65 GSMBS 2025-RPL3 362963AA8 - - 2,232,600 $2,198,934 $2,198,934 0.16 $2,185,966
BAMLL Re-REMIC Trust 2025-FRR5 E736 0.851572% 27-SEP-2052, 0.94%, 09/27/52 BAMLL 05494BAJ6 - - 2,405,067 $2,187,045 $2,187,045 0.16 $2,183,828
Chase Auto Credit Linked Notes, Series 2025-1 F 6.996% 25-JUN-2033, 7.00%, 02/25/33 CACLN 2025-1 46591HCW8 - - 2,144,199 $2,182,779 $2,182,779 0.16 $2,171,529
BX Commercial Mortgage Trust 2024-GPA3 C 5.64198% 15-DEC-2039, 5.64%, 12/15/39 BX 2024-GPA3 123910AE1 - - 2,165,574 $2,173,348 $2,173,348 0.16 $2,170,972
CONE Trust 2024-DFW1 A 5.39185% 15-AUG-2041, 5.39%, 08/15/41 CONE 2024-DFW1 20682AAA8 - - 2,165,000 $2,163,662 $2,163,662 0.16 $2,161,392
PRPM 2025-RPL3 A1 3.25% 25-APR-2055, 3.25%, 04/25/55 PRPM 2025-RPL3 69392NAA8 - - 2,222,409 $2,157,049 $2,157,049 0.16 $2,146,816
Hudson's Bay Simon JV Trust 2015-HBS A10 4.1545% 05-AUG-2034, 4.15%, 08/05/34 HBCT 2015-HB10 44422PBN1 - - 2,210,000 $2,151,861 $2,151,861 0.16 $2,146,505
FINANCE OF AMER STR TR 2024-S2 A1, 3.50%, 04/25/74 FASST 2024-S2 31739VAA2 - - 2,181,421 $2,144,283 $2,144,283 0.16 $2,138,557
Great Wolf Trust 2024-WOLF D 6.64012% 15-MAR-2039, 6.64%, 03/15/39 GWT 2024-WOLF 39152MAG0 - - 2,103,000 $2,114,733 $2,114,733 0.15 $2,112,018
MKT 2020-525M Mortgage Trust D 2.9406% 12-FEB-2040, 2.94%, 02/12/40 MKT 55316PAJ6 - - 2,500,000 $2,071,640 $2,071,640 0.15 $2,067,352
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA3 B1 7.4218% 25-SEP-2041, 7.42%, 09/25/41 STACR 2021-HQA3 35564KKK4 - - 2,000,000 $2,044,189 $2,044,189 0.15 $2,032,890
Post Road Equipment Finance 2025-1 E 7.08% 15-MAY-2032, 7.08%, 05/17/32 PREF 2025-1A 73747LAF5 - - 2,000,000 $2,036,217 $2,036,217 0.15 $2,033,464
Reach ABS Trust 2025-1 C 5.99% 15-AUG-2032, 5.99%, 08/16/32 REACH 2025-1A 75525PAC6 - - 2,000,000 $2,033,881 $2,033,881 0.15 $2,031,551
SMRT Commercial Mortgage Trust 2022-MINI F 7.10012% 15-JAN-2039, 7.10%, 01/15/39 SMRT 2022-MINI 78457JAQ5 - - 2,025,000 $2,024,454 $2,024,454 0.15 $2,009,324
GS MTG-BKD TRUST 2025-CES2 A1, 5.18%, 09/25/55 GSMBS 2025-CES2 36273BAA7 - - 2,001,877 $2,021,117 $2,021,117 0.15 $2,006,426
PRPM 2025-RCF5 6.7%55 A3, 5.46%, 10/25/55 PRPM 2025-RCF5 69384AAC2 - - 2,000,000 $2,019,824 $2,019,824 0.15 $2,004,354
Libra Solutions 2024-1 A 5.88% 30-SEP-2038, 5.88%, 09/30/38 OASIS 2024-1A 53161XAA9 - - 2,000,000 $2,007,304 $2,007,304 0.15 $2,000,118
BOCA Commercial Mortgage Trust 2025-BOCA D 6.35% 15-DEC-2042, 6.35%, 12/15/42 BOCA 2025-BOCA 05619RAD4 - - 2,000,000 $2,003,617 $2,003,617 0.15 $2,002,559
Jersey Mike's Funding, Series 2019-1 A2 4.433% 15-FEB-2050, 4.43%, 02/15/50 JMIKE 2019-1A 476681AA9 - - 1,965,000 $1,973,597 $1,973,597 0.14 $1,964,644
Tricolor Auto Securitization Trust 2024-1 A 6.61% 15-OCT-2027, 6.61%, 10/15/27 TAST 2024-1A 89616LAA0 - - 1,945,522 $1,953,220 $1,953,220 0.14 $1,929,286
BX Commercial Mortgage Trust 2024-AIR2 C 5.99124% 15-OCT-2041, 5.99%, 10/15/41 BX 2024-AIR2 05613QAE0 - - 1,918,360 $1,924,666 $1,924,666 0.14 $1,922,431
EASY STREET MORTGAGE LN 5.606%40 A1, 5.61%, 10/25/40 EASY 2025-RTL2 27786YAA6 - - 1,900,000 $1,912,804 $1,912,804 0.14 $1,904,816
FIGRE TRUST 2025-HE4 FLTG 2055 C, 5.71%, 07/25/55 FIGRE 2025-HE4 31684PAC6 - - 1,879,400 $1,905,303 $1,905,303 0.14 $1,890,103
Lmdv Issuer Co LLC|7.88|12/15/2055, 7.88%, 12/15/55 LMDV 2025-1A 538908AE4 - - 1,889,000 $1,890,401 $1,890,401 0.14 $1,888,747
COMM 2016-667M A 3.14% 10-OCT-2036, 3.14%, 10/10/36 COMM 12636GAA9 - - 2,120,000 $1,888,418 $1,888,418 0.14 $1,884,535
BX Trust 2024-BRBK B 7.67672% 15-OCT-2041, 7.66%, 10/15/41 BX 2024-BRBK 05613NAG2 - - 1,850,000 $1,876,561 $1,876,561 0.14 $1,861,648
ACHM Trust 2024-HE1 B 7.26% 25-MAY-2039, 7.26%, 05/25/39 ACHM 2024-HE1 00449TAB1 - - 1,769,224 $1,841,880 $1,841,880 0.13 $1,832,247
FIGRE Trust 2025-HE3 B 5.71% 25-MAY-2055, 5.71%, 05/25/55 FIGRE 2025-HE3 31684LAB7 - - 1,778,565 $1,819,474 $1,819,474 0.13 $1,805,087
Angel Oak Mortgage Trust 2025-6 A2 5.768% 25-APR-2070, 5.77%, 04/25/70 AOMT 2025-6 034937AB8 - - 1,789,521 $1,818,289 $1,818,289 0.13 $1,803,666
SoFi Consumer Loan Program 2025-3 Trust D 5.35% 25-AUG-2034, 5.35%, 08/15/34 SCLP 2025-3 83390JAD4 - - 1,800,000 $1,815,864 $1,815,864 0.13 $1,808,641
BX Trust 2021-BXMF G 7.214513% 15-OCT-2038, 7.21%, 10/15/26 BX 2021-BXMF 05609RAS3 - - 1,808,470 $1,815,455 $1,815,455 0.13 $1,801,732
BXHPP Trust 2021-FILM C 4.965% 15-AUG-2036, 4.96%, 08/15/36 BXHPP 2021-FILM 05609JAL6 - - 1,950,000 $1,813,875 $1,813,875 0.13 $1,811,992
Exeter Select Automobile Receivables Trust 2025-3 D 5.54% 15-MAY-2032, 5.54%, 05/17/32 ESART 2025-3 30185FAF7 - - 1,800,000 $1,811,988 $1,811,988 0.13 $1,810,049
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 - - 1,784,299 $1,810,980 $1,810,980 0.13 $1,801,895
FIGRE Trust 2025-HE3 C 5.91% 25-MAY-2055, 5.91%, 05/25/55 FIGRE 2025-HE3 31684LAC5 - - 1,778,565 $1,807,173 $1,807,173 0.13 $1,792,282
Saluda Grade Alternative Mortgage Trust 2024-FIG5 B 6.603% 25-APR-2054, 6.60%, 04/25/54 GRADE 2024-FIG5 79582MAB7 - - 1,772,821 $1,807,114 $1,807,114 0.13 $1,790,530
Alterna Funding III B 7.136% 15-MAY-2039, 7.14%, 05/16/39 TAX 2024-1A 02157JAC9 - - 1,767,799 $1,774,381 $1,774,381 0.13 $1,771,928
Extended Stay America Trust 2025-ESH F 7.85012% 15-OCT-2042, 7.85%, 10/15/42 ESA 2025-ESH 30227TAL4 - - 1,750,000 $1,767,633 $1,767,633 0.13 $1,764,962
SBNA Auto Receivables Trust 2025-SF1 D 5.34% 15-MAY-2030, 5.34%, 09/15/31 SBAT 2025-SF1 78437XAD8 - - 1,750,000 $1,760,615 $1,760,615 0.13 $1,758,798
CarMax Auto Owner Trust 2025-4 D 5.11% 15-MAR-2032, 5.11%, 05/17/32 CARMX 2025-4 14320HAH9 - - 1,750,000 $1,758,779 $1,758,779 0.13 $1,757,040
Wells Fargo Commercial Mortgage Trust 2025-VTT E 6.90721% 15-MAR-2038, 6.91%, 03/15/38 WFCM 2025-VTT 94990GAJ8 - - 1,735,000 $1,753,556 $1,753,556 0.13 $1,746,565
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA5 M2 10.8218% 25-JUN-2042, 10.82%, 06/25/42 STACR 2022-DNA5 35564KYW3 - - 1,596,344 $1,741,702 $1,741,702 0.13 $1,728,746
RCKT MORTGAGE TRUST 2025-CE 5.42% 34, 5.42%, 07/25/34 RCKTL 2025-1A 74939RAD3 - - 1,750,000 $1,738,199 $1,738,199 0.13 $1,731,085
Gracie Point International Funding, Series 2024-1 B 6.29671% 01-MAR-2028, 6.29%, 03/01/28 GPIF 2024-1A 38410KAB5 - - 1,724,000 $1,731,644 $1,731,644 0.13 $1,725,318
EFMT 2025-RTL1 0% 40, 5.57%, 11/25/40 EFMT 2025-RTL1 26846FAB5 - - 1,717,000 $1,729,309 $1,729,309 0.13 $1,720,285
Saluda Grade Alternative Mortgage Trust 2024-RTL5 A1 7.762% 25-APR-2030, 7.76%, 04/25/30 GRADE 2024-RTL5 A1 795935AA3 - - 1,640,000 $1,672,740 $1,672,740 0.12 $1,654,706
CarMax Auto Owner Trust 2024-1 D 6.0% 15-JUL-2030, 6.00%, 07/15/30 CARMX 2024-1 14318WAH0 - - 1,620,000 $1,666,480 $1,666,480 0.12 $1,664,590
Huntington Bank Auto Credit-Linked Notes, Series 2024-2 C 6.69888% 20-OCT-2032, 6.70%, 10/20/32 HACLN 2024-2 44644NAJ8 - - 1,638,441 $1,655,911 $1,655,911 0.12 $1,646,155
UMBS TBA 30yr 4% January Delivery, 4.00%, 01/14/26 FNCL 01F040610 - - 1,738,000 $1,647,886 $1,647,886 0.12 $1,647,886
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA4 M2 6.4218% 25-DEC-2041, 6.42%, 12/25/41 STACR 2021-HQA4 35564KNS4 - - 1,600,000 $1,628,973 $1,628,973 0.12 $1,621,267
Brean Asset Backed Securities Trust 2024-RM9 A1 5.0% 25-SEP-2064, 5.00%, 09/25/64 BABS 2024-RM9 10638DAA8 - - 1,616,285 $1,615,945 $1,615,945 0.12 $1,609,884
CALI Mortgage Trust 2019-101C B 4.158% 10-MAR-2039, 4.16%, 03/10/39 CALI 129890AG4 - - 1,700,000 $1,609,912 $1,609,912 0.12 $1,605,789
BX Commercial Mortgage Trust 2024-WPT D 6.43982% 15-APR-2041, 6.44%, 03/15/34 BX 2024-WPT 05612JAG2 - - 1,580,000 $1,581,968 $1,581,968 0.12 $1,579,989
Hotwire Funding, Series 2024-1 C_2024_1 9.188% 20-JUN-2054, 9.19%, 06/20/54 HWIRE 44148JAM1 - - 1,500,000 $1,572,598 $1,572,598 0.11 $1,560,347
RCKT Mortgage Trust 2024-CES8 A1B 5.64082% 25-OCT-2044, 5.64%, 11/25/44 RCKT 2024-CES8 749421AB9 - - 1,551,064 $1,571,732 $1,571,732 0.11 $1,559,338
ExteNet Issuer, Series 2024-1 C_241 8.758065% 25-JUL-2054, 9.05%, 07/25/54 EXTNT 2024-1A 30227XAL5 - - 1,500,000 $1,552,747 $1,552,747 0.11 $1,542,566
COOPR Residential Mortgage Trust 2025-CES3 A1A 4.84% 25-SEP-2060, 4.84%, 09/25/60 COOPR 2025-CES3 216926AA3 - - 1,524,213 $1,531,121 $1,531,121 0.11 $1,520,670
Arivo Acceptance Auto Loan Receivables Trust 2024-1 B 6.87% 15-JUN-2030, 6.87%, 06/17/30 ARIVO 2024-1A 039943AB1 - - 1,500,000 $1,530,084 $1,530,084 0.11 $1,528,080
RCKT MORTGAGE TR 2025-CES8 A1A, 5.15%, 08/25/55 RCKT 2025-CES8 74939WAA8 - - 1,509,865 $1,526,885 $1,526,885 0.11 $1,515,874
USB Auto Owner Trust 2025-1 C 4.96% 15-MAR-2031, 4.96%, 03/17/31 USCAR 2025-1A 90367VAF6 - - 1,500,000 $1,523,119 $1,523,119 0.11 $1,521,673
VB-S1 Issuer Secured Tower Revenue Notes, Series 2024-1 (Vertical Bridge) D_2024_1 6.644% 15-MAY-2054, 6.64%, 05/15/54 VBTEL 2024-1A 91823ABE0 - - 1,500,000 $1,519,592 $1,519,592 0.11 $1,517,655
Huntington Bank Auto Credit-Linked Notes, Series 2024-1 C 7.24888% 20-MAY-2032, 7.25%, 05/20/32 HACLN 2024-1 44644NAC3 - - 1,495,932 $1,519,026 $1,519,026 0.11 $1,509,387
SALUDA GR ALT MTG TR 25 RRTL1 A1, 5.32%, 10/25/40 GRADE 2025-RRTL1 79582NAA7 - - 1,500,000 $1,510,945 $1,510,945 0.11 $1,499,640
DC Trust 2024-HLTN C 7.036% 13-APR-2040, 7.04%, 04/13/40 DC 2024-HLTN 24022FAG5 - - 1,500,000 $1,510,348 $1,510,348 0.11 $1,504,192
Affirm Asset Securitization Trust 2024-X1 C 6.57% 15-MAY-2029, 6.57%, 05/15/29 AFFRM 2024-X1 00834XAC3 - - 1,503,515 $1,509,025 $1,509,025 0.11 $1,507,105
BX Trust 2021-ARIA E 6.3175% 15-OCT-2036, 6.32%, 10/15/36 BX 2021-ARIA 05608RAL9 - - - $1,507,897 $1,507,897 0.11 $0
Brex Commercial Charge Card Master Trust Series 2024-1 A2 6.68% 15-JUL-2027, 6.68%, 07/15/27 BREX 2024-1 05601DAF0 - - 1,500,000 $1,505,494 $1,505,494 0.11 $1,503,546
Gracie Point International Funding, Series 2025-1 C 6.73385% 15-AUG-2028, 6.77%, 08/15/28 GPIF 2025-1A 38411WAC6 - - 1,500,000 $1,504,492 $1,504,492 0.11 $1,502,516
JW Commercial Mortgage Trust 2024-MRCO C 6.14017% 15-JUN-2039, 6.14%, 06/15/39 JW 2024-MRCO 46657XAE6 - - 1,500,000 $1,504,487 $1,504,487 0.11 $1,502,696
Santander Bank Auto Credit-Linked Notes Series 2025-A|6.274|01/16/2034, 6.27%, 01/16/34 SBCLN 2025-A 80290CCU6 - - 1,500,000 $1,504,357 $1,504,357 0.11 $1,503,050
TSC SPV Funding, Series 2024-1 (Tropical Smoothie Cafe) A2 6.291% 20-AUG-2054, 6.29%, 08/20/54 TROP 2024-1A 898912AA8 - - 1,485,000 $1,497,511 $1,497,511 0.11 $1,489,207
Saluda Grade Alternative Mortgage Trust 2024-RTL6 A2 8.683% 25-JUL-2030, 8.68%, 07/25/30 GRADE 2024-RTL6 79585UAB6 - - 1,450,000 $1,478,399 $1,478,399 0.11 $1,460,563
FIGRE TRUST 2025 HE4 FLTG 2055 B, 5.61%, 07/25/55 FIGRE 2025-HE4 31684PAB8 - - 1,454,802 $1,475,213 $1,475,213 0.11 $1,463,655
Flagship Credit Auto Trust 2021-1 D 1.27% 15-MAR-2027, 1.27%, 03/15/27 FCAT 2021-1 33843WAG6 - - 1,488,975 $1,474,677 $1,474,677 0.11 $1,474,309
BAMLL Re-REMIC Trust 2025-FRR5 EK86 0.0% 27-NOV-2051, 0.00%, 11/27/51 BAMLL 05494BBJ5 - - 1,892,604 $1,460,106 $1,460,106 0.11 $1,460,106
QTS ISSUER ABS I 5.928%55, 5.93%, 05/25/55 QTS 2025-1A 74690DAB7 - - 1,442,000 $1,441,671 $1,441,671 0.11 $1,435,260
RCKT Mortgage Trust 2025-CES7 A1B 5.478% 25-JUL-2055, 5.48%, 07/25/55 RCKT 2025-CES7 74943AAB8 - - 1,418,645 $1,436,114 $1,436,114 0.10 $1,425,105
LHOME Mortgage Trust 2024-RTL3 A2 8.373% 25-MAY-2029, 8.37%, 05/25/29 LHOME 2024-RTL3 50205GAB8 - - 1,400,000 $1,428,399 $1,428,399 0.10 $1,419,607
Ally Bank Auto Credit-Linked Notes, Series 2025-A E 6.066% 15-JUN-2033, 6.07%, 06/15/33 ABCLN 2025-A 02007G5H2 - - 1,411,546 $1,408,908 $1,408,908 0.10 $1,407,243
Western Funding Auto Loan Trust 2025-1 C 5.34% 15-NOV-2035, 5.34%, 11/15/35 WEFUN 2025-1 958250AC6 - - 1,389,000 $1,392,652 $1,392,652 0.10 $1,391,210
BAMLL Re-REMIC Trust 2025-FRR5 EK73 0.009926% 27-FEB-2051, 0.01%, 02/27/51 BAMLL 05494BAW7 - - 1,784,783 $1,365,621 $1,365,621 0.10 $1,365,596
CF Hippolyta Net-Lease Mortgage Notes, Series 2020-1 A1_2020_1 10.84% 15-JUL-2060, 1.69%, 07/15/60 SORT 2020-1 12530MAA3 - - 1,577,877 $1,355,807 $1,355,807 0.10 $1,355,289
Business Jet Securities, Series 2024-1 B 6.924% 15-MAY-2039, 6.92%, 05/15/39 BJETS 2024-1A 12327CAB0 - - 1,312,220 $1,354,816 $1,354,816 0.10 $1,353,049
MVW 2025-1 C 5.75% 20-SEP-2042, 5.75%, 09/22/42 MVWOT 2025-1A 627924AC7 - - 1,307,834 $1,339,269 $1,339,269 0.10 $1,332,584
RCKT MORTGAGE TRUST 2025 5.24863% 55, 5.25%, 08/25/55 RCKT 2025-CES8 74939WAB6 - - 1,290,475 $1,300,916 $1,300,916 0.09 $1,291,321
COOPR Residential Mortgage Trust 2025-CES2 A1A 5.502% 25-JUN-2060, 5.50%, 06/25/60 COOPR 2025-CES2 12674UAA1 - - 1,277,874 $1,297,725 $1,297,725 0.09 $1,287,765
FOUNDATION FINANCE TRUST 20 5.71% 52, 5.71%, 08/15/52 FFIN 2025-3A 35042TAD4 - - 1,275,000 $1,275,731 $1,275,731 0.09 $1,274,316
Great Wolf Trust 2024-WOLF C 6.14112% 15-MAR-2039, 6.14%, 03/15/39 GWT 2024-WOLF 39152MAE5 - - 1,260,000 $1,265,230 $1,265,230 0.09 $1,263,726
COMM 2024-WCL1 Mortgage Trust C 6.64% 17-JUN-2041, 6.64%, 06/15/41 COMM 2024-WCL1 20047DAE4 - - 1,250,000 $1,254,391 $1,254,391 0.09 $1,252,777
Santander Bank Auto Credit-Linked Notes, Series 2023-B E 8.408% 15-DEC-2033, 8.41%, 12/15/33 SBCLN 2023-B 80290CCE2 - - 1,228,076 $1,251,221 $1,251,221 0.09 $1,249,213
Foundation Finance Trust 2024-1 D 8.13% 15-DEC-2049, 8.13%, 12/15/49 FFIN 2024-1A 349941AD6 - - 1,178,287 $1,248,781 $1,248,781 0.09 $1,246,918
OCEANVIEW MORTGAGE TRUST 4.99888% 55, 5.00%, 12/25/55 BVINV 2025-4 67647DAU3 - - 1,230,000 $1,234,610 $1,234,610 0.09 $1,229,998
FHF Trust 2024-1 (First Help Financial) B 6.26% 15-MAR-2030, 6.26%, 03/15/30 FHF 2024-1A 31568AAC0 - - 1,200,000 $1,224,157 $1,224,157 0.09 $1,222,696
FHF Issuer Trust 2024-2 (First Help Financial) C 6.43% 15-JUL-2030, 6.43%, 07/15/30 FHF 2024-2A 30336NAG6 - - 1,202,000 $1,219,315 $1,219,315 0.09 $1,217,813
PRPM 2025-RPL4 A1, 3.00%, 05/25/55 PRPM 2025-RPL4 74448NAA2 - - 1,263,985 $1,198,502 $1,198,502 0.09 $1,193,131
LHOME Mortgage Trust 2024-RTL2 A2 8.897% 25-MAR-2029, 8.90%, 03/25/29 LHOME 2024-RTL2 50205JAB2 - - 1,175,000 $1,194,393 $1,194,393 0.09 $1,186,552
VB-S1 Issuer Secured Tower Revenue Notes, Series 2024-1 (Vertical Bridge) F_2024_1 8.871% 15-MAY-2054, 8.87%, 05/15/54 VBTEL 2024-1A 91823ABG5 - - 1,150,000 $1,186,020 $1,186,020 0.09 $1,184,036
MTN Commercial Mortgage Trust 2022-LPFL D 6.7028% 15-MAR-2039, 6.70%, 03/15/39 MTN 2022-LPFL 62475WAG0 - - 1,175,000 $1,180,179 $1,180,179 0.09 $1,178,647
Connecticut Avenue Securities Trust 2022-R02 2M2 7.0718% 25-JAN-2042, 7.07%, 01/25/42 CAS 2022-R02 20754BAB7 - - 1,149,112 $1,176,212 $1,176,212 0.09 $1,170,117
Santander Bank Auto Credit-Linked Notes Series 2025-A|7.343|01/16/2034, 7.34%, 01/16/34 SBCLN 2025-A 80290CCV4 - - 1,172,000 $1,175,577 $1,175,577 0.09 $1,174,382
RCKT Mortgage Trust 2024-CES6 A1B 5.546% 25-SEP-2044, 5.55%, 09/25/44 RCKT 2024-CES6 749410AB2 - - 1,162,025 $1,174,652 $1,174,652 0.09 $1,165,523
Ally Bank Auto Credit-Linked Notes, Series 2024-B E 6.678% 15-SEP-2032, 6.68%, 09/15/32 ABCLN 2024-B 02007G4F7 - - 1,162,017 $1,168,003 $1,168,003 0.09 $1,166,494
FIGRE TRUST 2025-HE4 5.408% 55, 5.41%, 07/25/55 FIGRE 2025-HE4 31684PAA0 - - 1,125,463 $1,140,653 $1,140,653 0.08 $1,132,031
RCKT MORT 2025-CES9 FLT 2055 A1A, 4.79%, 09/25/55 RCKT 2025-CES9 74942JAA2 - - 1,116,468 $1,122,230 $1,122,230 0.08 $1,114,646
Ally Bank Auto Credit-Linked Notes, Series 2024-B F 8.036% 15-SEP-2032, 8.04%, 09/15/32 ABCLN 2024-B 02007G4G5 - - 1,103,916 $1,121,757 $1,121,757 0.08 $1,120,032
MKT 2020-525M Mortgage Trust F 2.9406% 12-FEB-2040, 2.94%, 02/12/40 MKT 55316PAN7 - - 1,541,000 $1,118,057 $1,118,057 0.08 $1,115,414
BX Trust 2024-VLT4 D 6.190172% 15-JUN-2041, 6.19%, 06/15/41 BX 2024-VLT4 05612TAG0 - - 1,100,000 $1,103,710 $1,103,710 0.08 $1,096,521
Huntington Bank Auto Credit-Linked Notes, Series 2025-1 D 7.59888% 20-MAR-2033, 7.60%, 03/21/33 HACLN 2025-1 446438TA1 - - 1,088,635 $1,095,989 $1,095,989 0.08 $1,088,635
MS RES MTG LN TR 2025-SPL1 A1, 4.25%, 02/25/65 MSRM 2025-SPL1 617946AA6 - - 1,098,406 $1,091,167 $1,091,167 0.08 $1,084,553
BX Trust 2024-CNYN C 5.69128% 15-APR-2041, 5.69%, 04/15/41 BX 2024- CNYN 05612HAE1 - - 1,081,816 $1,084,248 $1,084,248 0.08 $1,083,051
Huntington Bank Auto Credit-Linked Notes, Series 2024-2 D 8.09888% 20-OCT-2032, 8.10%, 10/20/32 HACLN 2024-2 44644NAK5 - - 1,042,118 $1,060,267 $1,060,267 0.08 $1,052,765
RCKT Mortgage Trust 2025-CES10 A1A 4.894% 25-OCT-2055, 4.89%, 11/25/55 RCKT 2025-CES10 74939LAA2 - - 1,051,938 $1,058,980 $1,058,980 0.08 $1,051,686
Connecticut Avenue Securities Trust 2025-R01 1M2 5.5718% 25-JAN-2045, 5.57%, 01/25/45 CAS 2025-R01 20755JAC7 - - 1,054,000 $1,055,956 $1,055,956 0.08 $1,051,552
LIFE 2021-BMR Mortgage Trust E 5.615% 15-MAR-2038, 5.61%, 03/15/38 LIFE 2021-BMR 53218CAJ9 - - 1,050,000 $1,044,062 $1,044,062 0.08 $1,042,916
Reach ABS Trust 2024-2 D 8.83% 15-JUL-2031, 8.83%, 07/15/31 REACH 2024-2A 75525HAD2 - - 1,000,000 $1,038,357 $1,038,357 0.08 $1,036,640
FHF Trust 2024-1 (First Help Financial) C 7.42% 15-MAY-2031, 7.42%, 05/15/31 FHF 2024-1A 31568AAD8 - - 1,000,000 $1,030,890 $1,030,890 0.08 $1,029,447
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 B1 7.7218% 25-NOV-2041, 7.72%, 11/25/41 STACR 2021-DNA7 35564KND7 - - 1,000,000 $1,029,547 $1,029,547 0.08 $1,023,756
SBNA Auto Receivables Trust 2024-A E 8.0% 15-APR-2032, 8.00%, 04/15/32 SBAT 2024-A 78437PAH6 - - 1,000,000 $1,023,259 $1,023,259 0.07 $1,021,703
OnDeck Asset Securitization IV, Series 2024-1 C 8.99% 17-JUN-2031, 8.99%, 06/17/31 ONDK 67118NAC1 - - 1,000,000 $1,023,021 $1,023,021 0.07 $1,021,772
Sotheby's ArtFi Master Trust, Series 2024-1 D 7.91% 20-DEC-2031, 7.91%, 12/22/31 ARTFI 2024-1A 83589CAE8 - - 1,000,000 $1,022,696 $1,022,696 0.07 $1,002,481
Foundation Finance Trust 2023-2 D 9.1% 15-JUN-2049, 9.10%, 06/15/49 FFIN 2023-2A 35042RAD8 - - 955,799 $1,022,440 $1,022,440 0.07 $1,020,748
MHC Commercial Mortgage Trust 2021-MHC G 7.066442% 15-APR-2038, 7.07%, 04/15/38 MHC 2021-MHC 55316VAN4 - - 1,020,000 $1,022,253 $1,022,253 0.07 $1,020,852
United Auto Credit Securitization Trust 2024-1 D 8.3% 10-NOV-2029, 8.30%, 11/12/29 UACST 2024-1 90945DAD2 - - 1,000,000 $1,018,650 $1,018,650 0.07 $1,015,883
CPC Asset Securitization (Channel Partners Capital) III, Series 2024-1 D 13.45% 15-AUG-2030, 13.45%, 08/15/30 CPCAS 2024-1A 126203AD0 - - 1,000,000 $1,016,015 $1,016,015 0.07 $1,013,400
FIGRE Trust 2024-HE1 C 6.749% 25-MAR-2054, 6.75%, 03/25/54 FIGRE 2024-HE1 31684HAC4 - - 988,003 $1,015,476 $1,015,476 0.07 $1,010,475
United Auto Credit Securitization Trust 2024-1 C 7.06% 10-OCT-2029, 7.06%, 10/10/29 UACST 2024-1 90945DAC4 - - 1,008,708 $1,015,453 $1,015,453 0.07 $1,013,079
FIGRE Trust 2025-PF1 A 5.758% 25-JUN-2055, 5.76%, 06/25/55 FIGRE 2025-PF1 316922AA1 - - 987,223 $1,013,164 $1,013,164 0.07 $1,005,111
Compass Datacenters Issuer II, Series 2024-1 A2_2401 5.75% 25-FEB-2049, 5.75%, 02/25/49 CMPDC 2024-1A 20469AAB5 - - 1,000,000 $1,012,813 $1,012,813 0.07 $1,008,501
OnDeck Asset Securitization IV, Series 2024-1 B 7.15% 17-JUN-2031, 7.15%, 06/17/31 ONDK 67118NAB3 - - 1,000,000 $1,010,960 $1,010,960 0.07 $1,009,967
MTN Commercial Mortgage Trust 2022-LPFL F 9.045169% 15-MAR-2039, 9.05%, 03/15/39 MTN 2022-LPFL 62475WAL9 - - 1,000,000 $1,001,138 $1,001,138 0.07 $999,379
Carvana Auto Receivables Trust 2025-P3 C 4.99% 10-JAN-2032, 4.99%, 01/12/32 CRVNA 2025-P3 14688AAF4 - - 1,000,000 $999,747 $999,747 0.07 $998,083
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2024-DNA3 M2 5.5218% 25-OCT-2044, 5.52%, 10/25/44 STACR 2024-DNA3 35564NFA6 - - 990,000 $993,481 $993,481 0.07 $989,381
FHF Issuer Trust 2024-2 (First Help Financial) A2 5.89% 15-JUN-2030, 5.89%, 06/15/30 FHF 2024-2A 30336NAC5 - - 970,765 $978,418 $978,418 0.07 $977,306
PRET 2025-RPL2 Trust A1 4.0% 25-FEB-2065, 4.00%, 08/25/64 PRET 2025-RPL2 69392LAA2 - - 968,250 $962,118 $962,118 0.07 $956,631
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA3 M2 8.4218% 25-APR-2042, 8.42%, 04/25/42 STACR 2022-DNA3 35564KVE6 - - 888,100 $929,790 $929,790 0.07 $925,427
Marlette Funding Trust 2023-2 D 7.92% 15-JUN-2033, 7.92%, 06/15/33 MFT 2023-2A 57109LAD5 - - 900,000 $919,285 $919,285 0.07 $917,899
Alloya Auto Receivables Trust 2025-1 B 4.99% 25-MAR-2030, 4.99%, 03/25/30 ALLCU 2025-1A 01986QAJ7 - - 900,000 $912,367 $912,367 0.07 $908,998
Bayview Opportunity Master Fund VII Trust 2024-CAR1 D 6.1218% 25-DEC-2031, 6.12%, 12/26/31 BVCLN 2024-CAR1 07336QAD4 - - 878,140 $886,706 $886,706 0.06 $882,674
Tricolor Auto Securitization Trust 2024-1 D 8.61% 15-APR-2028, 0.00%, 04/17/28 TAST 2024-1A 89616LAD4 - - 1,500,000 $867,144 $867,144 0.06 $867,144
FINANCE OF AMERICA STRUCTURE 3.5% 74, 3.50%, 02/25/74 FASST 2024-S1 31740RAB6 - - 877,530 $864,743 $864,743 0.06 $862,439
Homeward Opportunities Fund Trust 2025-RRTL2 A1 5.237% 25-AUG-2040, 5.24%, 09/25/40 HOF 2025-RRTL2 437923AA3 - - 839,000 $845,742 $845,742 0.06 $842,446
Connecticut Avenue Securities Trust 2022-R07 1M2 8.7218% 25-JUN-2042, 8.72%, 06/25/42 CAS 2022-R07 20754MCB1 - - 783,000 $828,677 $828,677 0.06 $823,555
Connecticut Avenue Securities Trust 2025-R04 25-MAY-2045, 5.27%, 05/25/45 CAS 2025-R04 20755TAB7 - - 814,678 $819,502 $819,502 0.06 $816,281
RAM 2024-1 A 5.95% 15-FEB-2039, 6.67%, 02/15/39 RAM 2024-1 751313AA5 - - 808,917 $810,572 $810,572 0.06 $809,523
Santander Bank Auto Credit-Linked Notes, Series 2024-B G 12.231% 15-DEC-2032, 12.23%, 01/18/33 SBCLN 2024-B 80280BAG3 - - 799,679 $809,971 $809,971 0.06 $808,069
Santander Bank Auto Credit Linked Notes Series 2024-B 18-JAN-2033, 8.88%, 01/18/33 SBCLN 2024-B 80280BAF5 - - 799,679 $809,804 $809,804 0.06 $808,423
Hudson's Bay Simon JV Trust 2015-HBS C10 5.628567% 05-AUG-2034, 5.45%, 08/05/34 HBCT 2015-HB10 44422PBY7 - - 859,000 $805,385 $805,385 0.06 $802,656
BXHPP Trust 2021-FILM A 4.515% 15-AUG-2036, 4.51%, 08/15/36 BXHPP 2021-FILM 05609JAA0 - - 820,000 $794,820 $794,820 0.06 $790,873
Exeter Automobile Receivables Trust 2024-1 E 7.89% 15-AUG-2031, 7.89%, 08/15/31 EART 2024-1A 30167PAG5 - - 750,000 $781,116 $781,116 0.06 $779,966
Chase Mortgage Reference Notes, Series 2020-CL1 M4 8.39348% 25-OCT-2057, 8.42%, 10/25/57 CHASE 2020-CL1 46591HAK6 - - 725,766 $773,557 $773,557 0.06 $768,974
Crockett Partners Equipment Company IIA B 6.78% 20-JAN-2031, 6.78%, 01/20/31 EQS 2024-1C 22689LAB1 - - 757,576 $771,284 $771,284 0.06 $766,719
Crockett Partners Equipment Company IIA C 10.16% 20-JAN-2031, 10.16%, 01/20/31 EQS 2024-1C 22689LAC9 - - 757,576 $759,838 $759,838 0.06 $752,997
Prosper Marketplace Issuance Trust, Series 2024-1 C 6.96% 15-AUG-2029, 6.96%, 08/15/29 PMIT 74363CAC3 - - 750,000 $756,637 $756,637 0.06 $755,622
Bayview Opportunity Master Fund VII Trust 2024-EDU1 C 5.8718% 25-JUN-2047, 5.87%, 06/25/47 BVCLN 2024-EDU1 07336PAC8 - - 748,701 $751,659 $751,659 0.05 $748,299
Bayview Opportunity Master Fund VII Trust 2024-EDU1 D 6.8218% 25-JUN-2047, 6.82%, 06/25/47 BVCLN 2024-EDU1 07336PAD6 - - 727,309 $746,743 $746,743 0.05 $743,022
FIGRE Trust 2024-HE4 C 5.301% 25-SEP-2054, 5.30%, 09/25/54 FIGRE 2024-HE4 31684UAC5 - - 738,688 $743,053 $743,053 0.05 $740,116
Cyrusone Data Centers Issuer I, Series 2024-1 A2_2401 4.76% 20-MAR-2049, 4.76%, 03/22/49 CYRUS 2024-1A 23284BAF1 - - 735,000 $727,602 $727,602 0.05 $724,492
Theorem Funding Trust 2022-3 B 8.95% 15-APR-2029, 8.95%, 04/15/29 THRM 2022-3A 882925AB6 - - 710,070 $723,284 $723,284 0.05 $722,048
Marlette Funding Trust 2023-1 D 8.15% 15-APR-2033, 8.15%, 04/15/33 MFT 2023-1A 57110PAD3 - - 700,000 $714,036 $714,036 0.05 $712,927
LHOME MORTGAGE TR 2025-RTL3 A1, 5.24%, 08/25/40 LHOME 2025-RTL3 50205YAA1 - - 700,000 $706,298 $706,298 0.05 $703,548
Affirm Asset Securitization Trust 2024-A D_1 6.89% 15-FEB-2029, 6.89%, 02/15/29 AFFRM 2024-A 00834BAD9 - - 700,000 $702,605 $702,605 0.05 $701,667
Flagship Credit Auto Trust 2022-1 C 3.06% 15-MAR-2028, 3.06%, 03/15/28 FCAT 2022-1 33845VAE1 - - 703,374 $699,656 $699,656 0.05 $699,238
Westgate Resorts 2024-1 D 9.26% 20-JAN-2038, 9.26%, 01/20/38 WESTR 2024-1A 96034KAD5 - - 624,707 $661,402 $661,402 0.05 $635,103
Westgate Resorts 2024-1 C 7.06% 20-JAN-2038, 7.06%, 01/20/38 WESTR 2024-1A 96034KAC7 - - 624,707 $657,452 $657,452 0.05 $633,133
Tricolor Auto Securitization Trust 2025-1 D 6.84% 15-APR-2031, 0.00%, 04/15/31 TAST 2025-1A 89617CAD3 - - 3,240,000 $650,679 $650,679 0.05 $650,679
Bayview Opportunity Master Fund VII Trust 2024-CAR1 E 7.6718% 25-DEC-2031, 7.67%, 12/26/31 BVCLN 2024-CAR1 07336QAE2 - - 621,033 $629,904 $629,904 0.05 $626,331
Ally Bank Auto Credit-Linked Notes, Series 2025-A F 6.942% 15-JUN-2033, 6.94%, 06/15/33 ABCLN 2025-A 02007G5J8 - - 622,741 $624,989 $624,989 0.05 $624,149
RCKT Mortgage Trust 2024-CES1 A1B 6.325% 25-FEB-2044, 6.33%, 02/25/44 RCKT 2024-CES1 749424AB3 - - 608,860 $619,213 $619,213 0.05 $613,757
Gracie Point International Funding, Series 2024-1 D 11.34671% 01-MAR-2028, 11.34%, 03/01/28 GPIF 2024-1A D 38410KAD1 - - 600,000 $605,271 $605,271 0.04 $601,302
ACHV ABS Trust 2023-1PL (Freed) D 8.47% 18-MAR-2030, 8.47%, 03/18/30 ACHV 2023-1PL 00091XAD9 - - 582,375 $588,383 $588,383 0.04 $587,835
Taco Bell Funding Series 2018-1 2018-A2II 4.94% 25-NOV-2048, 4.94%, 11/25/48 BELL 2018-1A 87342RAE4 - - 571,500 $575,448 $575,448 0.04 $573,330
Rain City Mortgage Trust 2024-RTL1 A2 8.021% 25-SEP-2029, 8.02%, 11/25/29 RCITY 2024-RTL1 75079KAB9 - - 560,000 $569,311 $569,311 0.04 $565,942
Huntington Bank Auto Credit-Linked Notes, Series 2025-2 D 7.34888% 20-SEP-2033, 7.35%, 09/20/33 HACLN 2025-2 44644NAR0 - - 545,479 $549,467 $549,467 0.04 $545,904
Mello Warehouse Securitization Trust 2024-1 F 9.179% 25-OCT-2057, 9.20%, 10/25/57 MWST 2024-1 58553FAF2 - - 542,000 $544,373 $544,373 0.04 $540,632
Huntington Bank Auto Credit-Linked Notes, Series 2024-1 D 9.34888% 20-MAY-2032, 9.35%, 05/20/32 HACLN 2024-1 44644NAD1 - - 517,823 $536,506 $536,506 0.04 $532,203
Blue Bridge Funding 2023-1 C 9.5% 15-NOV-2030, 9.50%, 11/15/30 BBEF 2023-1A 09531MAC4 - - 546,000 $535,116 $535,116 0.04 $534,108
TYSN 2023-CRNR Mortgage Trust A 6.579745% 10-DEC-2038, 6.58%, 12/10/33 TYSN 2023-CRNR 87332PAA8 - - 500,000 $528,095 $528,095 0.04 $526,176
Marlette Funding Trust 2023-4 B 8.15% 15-DEC-2033, 8.15%, 12/15/33 MFT 2023-4A 57108UAB0 - - 500,000 $521,202 $521,202 0.04 $520,409
Connecticut Avenue Securities, Series 2021-R01 1M2 5.6218% 25-OCT-2041, 5.62%, 10/25/41 CAS 2021-R01 20754RAB2 - - 513,535 $516,759 $516,759 0.04 $514,594
Amur Equipment Finance Receivables XIV, Series 2024-2 E 8.88% 20-OCT-2032, 8.88%, 10/20/32 AXIS 2024-2A 03238BAF0 - - 500,000 $516,463 $516,463 0.04 $512,516
Upstart Securitization Trust 2023-3 B 8.25% 20-OCT-2033, 8.25%, 10/20/33 UPST 2023-3 91684MAB9 - - 500,000 $515,446 $515,446 0.04 $511,779
New Economy Assets - Phase 1 Issuer, Series 2021-1 A1_2021_1 1.91% 20-OCT-2061, 1.91%, 10/20/61 USRE 2021-1 643821AA9 - - 615,000 $514,181 $514,181 0.04 $513,137
Bayview Opportunity Master Fund VII Trust 2024-SN1 D 6.36% 15-JUL-2029, 6.36%, 07/16/29 BVABS 2024-SN1A 072926AF5 - - 500,000 $512,876 $512,876 0.04 $512,258
LAD Auto Receivables Trust 2024-1 D 6.15% 15-JUN-2031, 6.15%, 06/16/31 LADAR 2024-1A 501689AG8 - - 500,000 $511,412 $511,412 0.04 $510,814
Bridgecrest Lending Auto Securitization Trust 2024-1 D 6.03% 15-NOV-2029, 6.03%, 11/15/29 BLAST 2024-1 107933AF0 - - 500,000 $511,224 $511,224 0.04 $510,637
Ally Auto Receivables Trust 2024-1 D 5.8% 15-FEB-2032, 5.80%, 02/16/32 ALLYA 2024-1 02008FAG9 - - 500,000 $510,397 $510,397 0.04 $509,833
Exeter Automobile Receivables Trust 2024-1 D 5.84% 15-JUN-2030, 5.84%, 06/17/30 EART 2024-1A 30167PAF7 - - 500,000 $509,481 $509,481 0.04 $508,913
Sierra Timeshare 2024-3 Receivables Funding D 6.93% 20-JUN-2041, 6.93%, 08/20/41 SRFC 2024-3A 82653BAD5 - - 507,839 $508,328 $508,328 0.04 $505,200
Lendbuzz Securitization Trust 2024-1 B 6.58% 15-SEP-2029, 6.58%, 09/15/29 LBZZ 2024-1A 525935AC6 - - 500,000 $507,994 $507,994 0.04 $507,355
WB Commercial Mortgage Trust 2024-HQ D 8.0108% 16-MAR-2040, 8.01%, 03/15/40 WB 2024-HQ 92943PAG6 - - 500,000 $503,395 $503,395 0.04 $501,058
Gracie Point International Funding, Series 2024-1 C 7.69671% 01-MAR-2028, 7.69%, 03/01/28 GPIF 2024-1A 38410KAC3 - - 500,000 $502,715 $502,715 0.04 $500,472
Affirm Asset Securitization Trust 2024-A D_2 6.89% 15-FEB-2029, 6.89%, 02/15/29 AFFRM 2024-A 00834BAJ6 - - 500,000 $501,861 $501,861 0.04 $501,191
Connecticut Avenue Securities Trust 2022-R07 1B2 16.0718% 25-JUN-2042, 16.07%, 06/25/42 CAS 2022-R07 20754MAL1 - - 432,557 $501,859 $501,859 0.04 $496,645
Ally Bank Auto Credit-Linked Notes, Series 2024-A F 9.892% 15-MAY-2032, 9.89%, 05/17/32 ABCLN 2024-A 02007GZ97 - - 474,380 $488,874 $488,874 0.04 $487,962
Taco Bell Funding Series 2021-1 A2II 2.294% 25-AUG-2051, 2.29%, 08/25/51 BELL 2021-1A 87342RAH7 - - 510,900 $475,523 $475,523 0.03 $474,644
Post Road Equipment Finance 2024-1 E 8.5% 15-OCT-2031, 8.50%, 12/15/31 PREF 2024-1A 737473AF5 - - 450,000 $461,595 $461,595 0.03 $460,851
Sierra Timeshare 2024-2 Receivables Funding D 7.48% 20-JUN-2041, 7.48%, 06/20/41 SRFC 2024-2A 82650DAD4 - - 452,453 $458,081 $458,081 0.03 $455,073
Gls Auto Select Receivables Trust 2023-1 7.93% 15-JUL-2030, 7.93%, 07/15/30 GSAR 2023-1A 36267FAL2 - - 400,000 $425,395 $425,395 0.03 $424,778
Post Road Equipment Finance 2024-1 D 6.77% 15-OCT-2031, 6.77%, 10/15/30 PREF 2024-1A 737473AE8 - - 400,000 $409,704 $409,704 0.03 $409,178
RAM 2024-1 B 7.785% 15-FEB-2039, 7.79%, 02/15/39 RAM 2024-1 751313AB3 - - 400,428 $401,412 $401,412 0.03 $400,806
BAMLL Re-REMIC Trust 2024-FRR4 E 0.0% 27-NOV-2048, 0.01%, 11/27/48 BAMLL 05493VAJ3 - - 400,000 $397,233 $397,233 0.03 $397,064
BAMLL Re-REMIC Trust 2024-FRR4 F 0.0% 27-JAN-2026, 0.01%, 11/27/48 BAMLL 05493VAL8 - - 399,958 $396,625 $396,625 0.03 $396,619
Amur Equipment Finance Receivables XIII, Series 2024-1 E 9.66% 20-APR-2032, 9.66%, 04/20/32 AXIS 2024-1A E 03237CAF9 - - 375,000 $388,315 $388,315 0.03 $385,095
Chase Mortgage Reference Notes, Series 2020-CL1 M3 7.39348% 25-OCT-2057, 7.42%, 10/25/57 CHASE 2020-CL1 46591HAJ9 - - 371,229 $387,327 $387,327 0.03 $385,261
Santander Bank Auto Credit-Linked Notes, Series 2023-B F 12.24% 15-DEC-2033, 12.24%, 12/15/33 SBCLN 2023-B 80290CCF9 - - 368,423 $385,409 $385,409 0.03 $384,532
Ally Bank Auto Credit-Linked Notes, Series 2024-A E 7.917% 15-MAY-2032, 7.92%, 05/17/32 ABCLN 2024-A 02007GZ89 - - 372,388 $378,575 $378,575 0.03 $378,002
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAB1 - - 369,875 $372,313 $372,313 0.03 $369,562
FHF Trust 2023-1 (First Help Financial) A2 6.57% 15-JUN-2028, 6.57%, 06/15/28 FHF 2023-1A 30331GAC5 - - 364,017 $366,668 $366,668 0.03 $366,203
Tricolor Auto Securitization Trust 2024-1 C 6.99% 15-JAN-2028, 0.00%, 01/18/28 TAST 2024-1A 89616LAC6 - - 500,000 $364,965 $364,965 0.03 $364,965
Oak Street Investment Grade Net Lease Fund Series 2020-1 A2_2020_1 2.21% 20-NOV-2050, 2.21%, 11/20/50 OAKIG 2020-1A 67181DAB7 - - 396,295 $353,662 $353,662 0.03 $352,884
BHG Securitization Trust 2024-1CON (Bankers Healthcare Group) B 6.49% 17-APR-2035, 6.49%, 04/17/35 BHG 2024-1A 08862HAB8 - - 335,397 $343,620 $343,620 0.03 $343,318
Connecticut Avenue Securities Trust 2023-R05 1B1 8.8218% 25-JUN-2043, 8.82%, 06/25/43 CAS 2023-R05 207942AC7 - - 310,000 $333,170 $333,170 0.02 $331,119
LHOME Mortgage Trust 2024-RTL2 A1 7.128% 25-MAR-2029, 7.13%, 03/25/29 LHOME 50205JAA4 - - 321,901 $325,611 $325,611 0.02 $323,890
Dext ABS 2023-2 D 8.3% 15-MAY-2034, 8.30%, 05/15/34 DEXT 2023-2 25216CAE0 - - 300,000 $318,850 $318,850 0.02 $318,365
BX Commercial Mortgage Trust 2024-MF C 5.69102% 15-FEB-2039, 5.69%, 02/15/39 BX 2024-MF 05612EAE8 - - 309,909 $310,434 $310,434 0.02 $310,091
Compass Datacenters Issuer II, Series 2024-1 A1_2401 5.25% 25-FEB-2049, 5.25%, 02/25/49 CMPDC 2024-1A 20469AAA7 - - 300,000 $302,767 $302,767 0.02 $301,586
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAC9 - - 300,000 $301,038 $301,038 0.02 $298,807
Luxury Lease Partners Auto Lease Trust 2024-4 B 10.491% 15-JAN-2030, 10.49%, 07/15/30 LLP 2024-4 55068XAB6 - - 300,000 $300,765 $300,765 0.02 $300,153
Ally Bank Auto Credit-Linked Notes, Series 2024-A G 12.748% 15-MAY-2032, 12.75%, 05/17/32 ABCLN 2024-A 02007G2A0 - - 287,776 $299,972 $299,972 0.02 $299,259
CSMC 2021-BHAR E 7.365% 15-NOV-2038, 7.37%, 11/15/38 CSMC 2021-BHAR 12659VAN0 - - 300,000 $296,338 $296,338 0.02 $295,908
Chase Mortgage Reference Notes, Series 2021-CL1 M3 5.6218% 25-FEB-2050, 5.62%, 02/25/50 CHASE 2021-CL1 46591HBZ2 - - 291,358 $287,083 $287,083 0.02 $285,854
Golden Pear Securitization, Series 2024-1 A 6.95% 15-FEB-2036, 6.95%, 02/15/36 PEAR 2024-1 704933AA8 - - 270,601 $273,990 $273,990 0.02 $273,624
RCKT Mortgage Trust 2023-CES1 A1A 6.515% 25-JUN-2043, 6.51%, 06/25/43 RCKT 74935WAA2 - - 263,426 $266,678 $266,678 0.02 $264,247
Chase Auto Credit Linked Notes, Series 2021-2 G 8.482% 25-DEC-2028, 8.48%, 12/26/28 CACLN 2021-2 48128U2S7 - - 261,329 $263,131 $263,131 0.02 $261,469
CP EF Asset Securitization II (Channel Partners Equipment Finance) 2023-1 B 7.77% 15-MAR-2032, 7.77%, 03/15/32 CPEF 2023-1A 224092AB2 - - 250,000 $255,384 $255,384 0.02 $255,007
CP EF Asset Securitization II (Channel Partners Equipment Finance) 2023-1 C 7.56% 15-MAR-2032, 7.56%, 03/15/32 CPEF 2023-1A 224092AC0 - - 250,000 $249,758 $249,758 0.02 $249,390
Santander Bank Auto Credit-Linked Notes, Series 2023-B D 6.663% 15-DEC-2033, 6.66%, 12/15/33 SBCLN 2023-B 80290CCD4 - - 245,615 $249,680 $249,680 0.02 $249,362
Pawnee Equipment Receivables, Series 2022-1 D 7.23% 15-SEP-2029, 7.23%, 07/17/28 PWNE 2022-1 70410DAF5 - - 250,000 $249,215 $249,215 0.02 $248,863
BXHPP Trust 2021-FILM B 4.765% 15-AUG-2036, 4.76%, 08/15/36 BXHPP 2021-FILM 05609JAJ1 - - 250,000 $237,156 $237,156 0.02 $235,888
Santander Bank Auto Credit-Linked Notes, Series 2024-B E 6.799% 15-DEC-2032, 6.80%, 01/18/33 SBCLN 2024-B 80280BAE8 - - 222,133 $223,658 $223,658 0.02 $223,364
Cyrusone Data Centers Issuer I, Series 2023-1 B_2301 5.45% 20-APR-2048, 5.45%, 04/20/48 CYRUS 2023-1A 23284BAC8 - - 218,055 $217,189 $217,189 0.02 $216,133
Luxury Lease Partners Auto Lease Trust 2024-4 A 7.292% 15-JAN-2030, 7.29%, 07/15/30 LLP 2024-4 55068XAA8 - - 216,067 $216,555 $216,555 0.02 $216,248
FIGRE Trust 2024-HE4 B 5.252% 25-SEP-2054, 5.25%, 09/25/54 FIGRE 2024-HE4 31684UAB7 - - 206,146 $207,582 $207,582 0.02 $206,770
Auxilior Term Funding 2023-1 E 10.97% 15-DEC-2032, 10.97%, 12/15/32 XCAP 2023-1A 05335JAF0 - - 200,000 $204,690 $204,690 0.01 $204,264
Readycap Lending Small Business Loan Trust 2023-3 A 7.07% 25-APR-2048, 7.07%, 04/25/48 RCLT 75576AAA1 - - 202,296 $204,678 $204,678 0.01 $203,605
Blue Bridge Funding 2023-1 B 9.48% 15-NOV-2030, 9.48%, 11/15/30 BBEF 2023-1A 09531MAB6 - - 200,000 $204,192 $204,192 0.01 $203,823
Commonbond Student Loan Trust 2017-A-GS B 3.47% 25-MAY-2041, 3.47%, 05/25/41 CBSLT 2017-AGS 20267VAC1 - - 172,925 $159,449 $159,449 0.01 $158,999
BHG Securitization Trust 2024-1CON (Bankers Healthcare Group) A 5.81% 17-APR-2035, 5.81%, 04/17/35 BHG 2024-1A 08862HAA0 - - 155,015 $158,501 $158,501 0.01 $158,376
Commonbond Student Loan Trust 2021-A-GS B 1.4% 25-MAR-2052, 1.40%, 03/25/52 CBSLT 2021-AGS 20268WAB0 - - 190,357 $149,986 $149,986 0.01 $149,787
Westgate Resorts 2023-1 D 10.14% 20-DEC-2037, 10.14%, 12/20/37 WESTR 2023-1A 96033EAD0 - - 124,770 $129,371 $129,371 0.01 $127,578
Hudson's Bay Simon JV Trust 2015-HBS C7 5.330967% 05-AUG-2034, 5.16%, 08/05/34 HBCT 2015-HB7 44422PBE1 - - 123,309 $122,314 $122,314 0.01 $121,943
Reach ABS Trust 2024-2 A 5.88% 15-JUL-2031, 5.88%, 07/15/31 REACH 2024-2A 75525HAA8 - - 103,840 $104,558 $104,558 0.01 $104,440
Commonbond Student Loan Trust 2016-B B 4.0% 25-OCT-2040, 4.00%, 10/25/40 CBSLT 2016-B 20267UAC3 - - 106,143 $102,211 $102,211 0.01 $101,893
Commonbond Student Loan Trust 2016-A B 4.0% 25-MAY-2040, 4.00%, 05/25/40 CBSLT 2016-A 20267TAC6 - - 103,500 $101,302 $101,302 0.01 $100,991
Ginnie Mae REMIC Trust 2005-065 FA 4.29552% 20-AUG-2035, 4.22%, 08/20/35 GNR 2005-65 38374LL25 - - 99,550 $98,624 $98,624 0.01 $98,250
Commonbond Student Loan Trust 2018-C-GS B 4.25% 25-FEB-2046, 4.25%, 02/25/46 CBSLT 2018-CGS 20267XAC7 - - 98,238 $94,630 $94,630 0.01 $94,317
CP EF Asset Securitization II (Channel Partners Equipment Finance) 2023-1 A 7.48% 15-MAR-2032, 7.48%, 03/15/32 CPEF 2023-1A 224092AA4 - - 75,880 $76,675 $76,675 0.01 $76,565
Commonbond Student Loan Trust 2018-B-GS C 4.12% 25-SEP-2045, 4.12%, 09/25/45 CBSLT 2018-BGS 20268MAD8 - - 84,418 $72,681 $72,681 0.01 $72,420
NetCredit Combined Receivables 2024 A 7.43% 20-OCT-2030, 7.43%, 10/21/30 ENVA 2024-A 64113EAA7 - - 69,390 $69,950 $69,950 0.01 $69,492
U.S. Bank Auto Credit Linked Notes, Series 2023-1 C 9.785% 25-AUG-2032, 9.79%, 08/25/32 USCLN 2023-1 90357PAW4 - - 58,694 $60,105 $60,105 0.00 $59,674
Westgate Resorts 2022-1 D 3.838% 20-AUG-2036, 3.84%, 08/20/36 WESTR 2022-1A 96034JAD8 - - 53,259 $53,296 $53,296 0.00 $53,006
Santander Consumer Auto Receivables Trust 2021-C C 2.97% 15-OCT-2028, 2.97%, 06/15/28 SCART 2021-CA 80281HAC8 - - 51,151 $51,083 $51,083 0.00 $51,053
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA5 M2 5.7218% 25-JAN-2034, 5.72%, 01/25/34 STACR 2021-DNA5 35564KHE2 - - 49,374 $49,710 $49,710 0.00 $49,498
DB Master Finance, Series 2021-1 (Dunkin) 2021_A2I 2.045% 20-NOV-2047, 2.04%, 11/20/51 DNKN 2021-1A 233046AN1 - - 48,000 $47,148 $47,148 0.00 $47,061
ACHV ABS Trust 2024-1PL C 6.42% 25-APR-2031, 6.42%, 04/25/31 ACHV 2024-1PL 00092BAC8 - - 27,558 $27,845 $27,845 0.00 $27,712
FREED ABS Trust 2022-1FP D 3.35% 18-NOV-2028, 3.35%, 03/19/29 FREED 2022-1FP 35633KAD8 - - 16,098 $16,091 $16,091 0.00 $16,085
Santander Bank Auto Credit-Linked Notes, Series 2023-A E 10.068% 15-JUN-2033, 10.07%, 06/15/33 SBCLN 2023-A 80290CBX1 - - 4,662 $4,683 $4,683 0.00 $4,673
US ULTRA BOND CBT Mar26 MAR 26 WNH6 FUTURES_USD - -109.00 $-12,865,406 $0 0.00 $0
US 10yr Ultra Fut Mar26 MAR 26 UXYH6 FUTURES_USD - -294.00 $-33,810,000 $0 0.00 $0
US 10YR NOTE (CBT)Mar26 MAR 26 TYH6 FUTURES_USD - -124.00 $-13,950,000 $0 0.00 $0
US 2YR NOTE (CBT) Mar26 MAR 26 TUH6 FUTURES_USD - 2,419 $505,060,741 $0 0.00 $0
US 5YR NOTE (CBT) Mar26 MAR 26 FVH6 FUTURES_USD - 1,594 $174,293,938 $0 0.00 $0
UMBS TBA 30yr 2.5% January Delivery, 2.50%, 01/14/26 FNCL 01F022618 - - -189,990,000 $-160,741,419 $-160,741,419 -11.72 $-160,741,419
SEGREGATED CASH SEGCASH - $0.00 7,020,000 $7,020,000 $7,020,000 0.51 $7,020,000
EURO EUR - - -2.00 $-2 $-2 0.00 $-2
US DOLLARS USD MD_142224 - - -303,872,216 $-303,872,216 $-303,872,216 -22.15 $-303,872,216
PGIM AAA CLO ETF 05/07/26 PAAA US 69344A834 $51.33 1,169,022 $59,830,546 $75,694 0.01 $-169,508
Janus Henderson AAA CLO ETF 01/23/26 - 47103U845 $50.74 133,100 $6,742,846 $0 0.00 $0
3 MONTH SOFR FUT Dec25 DEC 25 SFRZ5 FUTURES_USD - 125.00 $120,371,875 $0 0.00 $0
Janus Henderson AAA CLO ETF 01/23/26 JAAA US 47103U845 $50.72 920,527 $46,633,898 $0 0.00 $0
3 MONTH SOFR FUT Mar26 MAR 26 SFRH6 FUTURES_USD - 125.00 $30,154,688 $0 0.00 $0
3 MONTH SOFR FUT Jun26 JUN 26 SFRM6 FUTURES_USD - 125.00 $30,220,312 $0 0.00 $0
3 MONTH SOFR FUT Sep26 SEP 26 SFRU6 FUTURES_USD - 125.00 $30,268,750 $0 0.00 $0
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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