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 November 28, 2025)

Ticker Cusip Underlying Security Strike Price Quantity (Shares/ Par/ Units/ Contracts) Notional Value Market Value Weight % Current Market Value
UMBS TBA 30yr 5% December Delivery, 5.00%, 12/11/25 FNCL 01F0506C5 - - 127,120,000 $126,895,125 $126,895,125 9.60 $126,895,125
GNMA II TBA 30yr 2.5% December Delivery, 2.50%, 12/18/25 G2SF 21H0226C0 - - 136,700,000 $118,698,797 $118,698,797 8.97 $118,698,797
UMBS TBA 30yr 5.5% December Delivery, 5.50%, 12/11/25 FNCL 01F0526C1 - - 65,610,000 $66,453,088 $66,453,088 5.02 $66,453,088
UMBS TBA 30yr 6.5% December Delivery, 6.50%, 12/11/25 FNCL 01F0626C0 - - 60,613,000 $62,783,552 $62,783,552 4.74 $62,783,552
UMBS TBA 30yr 6% December Delivery, 6.00%, 12/11/25 FNCL 01F0606C4 - - 57,605,000 $58,986,944 $58,986,944 4.46 $58,986,944
UMBS TBA 30yr 3.5% December Delivery, 3.50%, 12/11/25 FNCL 01F0326C3 - - 30,930,000 $28,609,570 $28,609,570 2.16 $28,609,570
UMBS TBA 30yr 4.5% December Delivery, 4.50%, 12/11/25 FNCL 01F0426C2 - - 25,880,000 $25,334,734 $25,334,734 1.91 $25,334,734
UMBS TBA 30yr 3% December Delivery, 3.00%, 12/11/25 FNCL 01F0306C7 - - 25,640,000 $22,772,730 $22,772,730 1.72 $22,772,730
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 $16,842,903 $16,842,903 1.27 $16,826,867
CENT Trust 2025-CITY A 4.919988% 10-JUL-2040, 5.09%, 07/10/40 CENT 2025-CITY 12517TAA5 - - 12,635,000 $12,909,288 $12,909,288 0.98 $12,855,685
Fannie Mae REMIC Trust 2025-12 FC 5.28279% 25-MAR-2055, 5.17%, 03/25/55 FNR 2025-12 3136BVFC7 - - 12,633,350 $12,665,658 $12,665,658 0.96 $12,654,769
Orion CLO 2023-1 A1R 5.12924% 25-OCT-2038, 5.13%, 10/25/38 ANTOR 2023-1A 68626CAJ3 - - 12,500,000 $12,552,232 $12,552,232 0.95 $12,530,860
ALA Trust 2025-OANA A 5.70163% 15-JUN-2040, 5.70%, 06/15/40 ALA 2025-OANA 009920AA7 - - 12,053,651 $12,121,202 $12,121,202 0.92 $12,090,657
OHA CREDIT FUNDING 24 FLTG 2039 A2, 5.29%, 01/20/39 OAKC 2025-24A 67123CAC8 - - 12,000,000 $12,000,000 $12,000,000 0.91 $12,000,000
PRPM 2025-5 0%30, 5.73%, 07/25/30 PRPM 2025-5 69392RAA9 - - 11,716,470 $11,759,239 $11,759,239 0.89 $11,703,303
Freddie Mac Multiclass Certificates, Series 5544 FC 5.18279% 25-JUN-2055, 5.07%, 06/25/55 FHR 5544 3137HLNP3 - - 11,442,413 $11,492,649 $11,492,649 0.87 $11,482,977
AB BSL CLO 1 A2R2 5.46673% 15-OCT-2038, 5.47%, 10/15/38 ABBSL 2020-1A 00038KBL4 - - 11,000,000 $11,062,839 $11,062,839 0.84 $11,019,408
FIGRE Trust 2025-HE3 A 5.56% 25-MAY-2055, 5.56%, 05/25/55 FIGRE 2025-HE3 31684LAA9 - - 10,688,288 $10,864,506 $10,864,506 0.82 $10,814,984
BX Commercial Mortgage Trust 2024-XL4 A 5.40099% 15-FEB-2039, 5.40%, 02/15/39 BX 2024-XL4 05611VAA9 - - 10,613,938 $10,632,008 $10,632,008 0.80 $10,606,530
Apld Computeco LLC 9.25% 15-DEC-2030, 9.25%, 12/15/30 APLD 00202DAA5 - - 10,892,000 $10,527,945 $10,527,945 0.80 $10,497,160
Libra Solutions 2025-1 A 6.355% 15-AUG-2039, 6.36%, 08/15/39 OASIS 2025-1A 53161AAA9 - - 10,200,000 $10,312,579 $10,312,579 0.78 $10,283,770
WB Commercial Mortgage Trust 2024-HQ A 5.9365% 16-MAR-2040, 6.13%, 03/15/40 WB 2024-HQ 92943PAA9 - - 10,000,000 $10,050,839 $10,050,839 0.76 $9,999,719
ARES LV CLO FLTG 2039, 5.32%, 01/15/39 ARES 2025-78A 03990NAC9 - - 10,000,000 $10,000,000 $10,000,000 0.76 $10,000,000
BX Trust 2025-VLT7 E 7.70896% 15-JUL-2044, 7.71%, 07/15/44 BX 2025-VLT7 123913AJ4 - - 9,966,000 $9,984,193 $9,984,193 0.75 $9,950,047
BX Trust 2024-FNX A 5.40126% 15-NOV-2041, 5.40%, 11/15/41 BX 2024-FNX 05593TAA6 - - 9,892,917 $9,909,504 $9,909,504 0.75 $9,885,755
Vista Point Securitization Trust 2025-CES2 A1 5.601% 25-AUG-2055, 5.60%, 08/25/55 VSTA 2025-CES2 92842UAA0 - - 9,114,200 $9,217,193 $9,217,193 0.70 $9,174,653
Olympic Tower 2017-OT A 3.566% 10-MAY-2039, 3.57%, 05/10/39 OT 68162MAA0 - - 9,025,000 $8,657,039 $8,657,039 0.65 $8,630,219
Regatta XXVI Funding Ltd|5.3|01/25/2039, 5.30%, 01/25/39 REG26 2023-2A 75900QAQ8 - - 8,300,000 $8,300,000 $8,300,000 0.63 $8,300,000
METRONET INFRASTRUCTURE ISSU 5.4% 55, 5.40%, 08/20/55 MNET 2025-2A 59170JAX6 - - 8,200,000 $8,293,695 $8,293,695 0.63 $8,280,165
CBAMR 2019-11R Ltd|5.369|03/20/2038, 5.37%, 03/20/38 CBAMR 2019-11RA 14988AAC8 - - 8,000,000 $8,000,000 $8,000,000 0.60 $8,000,000
RCKT MORTGAGE TRUST 2025-CE 7.12% 34, 7.12%, 07/25/34 RCKTL 2025-1A 74939RAE1 - - 7,900,000 $7,887,222 $7,887,222 0.60 $7,877,848
PMT LOAN TRUST 2025-J3 FLTG 2056 A3, 5.47%, 11/27/56 PMTLT 2025-J3 69392XBM9 - - 7,747,385 $7,808,841 $7,808,841 0.59 $7,763,545
Radian Mortgage Capital Trust 2025-J4 A25 5.73078% 25-MAR-2056, 5.62%, 03/25/56 RMCT 2025-J4 75024UBP1 - - 7,728,866 $7,773,688 $7,773,688 0.59 $7,728,081
WULF Compute LLC 7.75% 15-OCT-2030, 7.75%, 10/15/30 WULF 982911AA7 - - 7,439,000 $7,752,189 $7,752,189 0.59 $7,691,334
OBX 2025-J3 TRUST FLTG 2055 AF, 5.57%, 10/25/55 OBX 2025-J3 67449KAU7 - - 7,657,400 $7,664,320 $7,664,320 0.58 $7,657,209
Affirm Master Trust Series 2025-2 D 5.6% 15-JUL-2033, 5.60%, 07/15/33 AFRMT 2025-2A 00833BAK4 - - 7,500,000 $7,563,879 $7,563,879 0.57 $7,545,212
Extended Stay America Trust 2025-ESH B 5.55896% 15-OCT-2042, 5.56%, 10/15/42 ESA 2025-ESH 30227TAC4 - - 7,500,000 $7,526,951 $7,526,951 0.57 $7,508,421
HILT 2025-NVIL A 5.70196% 15-JUL-2042, 5.70%, 07/15/42 HILT 2025-NVIL 432826AA3 - - 7,400,000 $7,421,211 $7,421,211 0.56 $7,402,457
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 - - 7,158,664 $7,384,958 $7,384,958 0.56 $7,375,625
NYC Commercial Mortgage Trust 2025-1155 A 5.8329% 10-JUN-2042, 5.83%, 06/10/42 NYC 2025-1155 67122BAA5 - - 7,007,000 $7,233,294 $7,233,294 0.55 $7,199,234
Affirm Master Trust Series 2025-3 D 5.09% 15-OCT-2034, 5.09%, 10/16/34 AFRMT 2025-3A 00833BAR9 - - 7,274,000 $7,224,879 $7,224,879 0.55 $7,208,423
BLP Commercial Mortgage Trust 2024-IND2 A 5.30111% 15-MAR-2041, 5.30%, 03/15/41 BLP 2024-IND2 05625AAA9 - - 6,907,463 $6,914,808 $6,914,808 0.52 $6,898,534
BX Commercial Mortgage Trust 2024-AIRC A 5.65024% 15-AUG-2041, 5.65%, 08/15/41 BX 2024-AIRC 12433CAA3 - - 6,881,035 $6,910,145 $6,910,145 0.52 $6,892,866
PRPM 2025-RCF6 LLC|5.5|12/25/2055, 5.50%, 12/25/55 PRPM 2025-RCF6 69393BAC9 - - 6,852,000 $6,906,304 $6,906,304 0.52 $6,860,243
KRE Commercial Mortgage Trust 2025-AIP4 A 5.25896% 15-MAR-2042, 5.26%, 03/15/42 KRE 2025-AIP4 50077KAA6 - - 6,902,000 $6,897,470 $6,897,470 0.52 $6,881,338
Connecticut Avenue Securities Trust 2025-R01 1M1 5.28279% 25-JAN-2045, 5.17%, 01/25/45 CAS 2025-R01 20755JAB9 - - 6,871,463 $6,875,675 $6,875,675 0.52 $6,869,752
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 - - 6,717,256 $6,758,027 $6,758,027 0.51 $6,751,117
RAD CLO 31 Ltd|5.339|04/17/2039, 5.34%, 04/17/39 RAD 2025-31A 74939NAC4 - - 6,600,000 $6,635,640 $6,635,640 0.50 $6,635,640
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA6 B2 11.68279% 25-OCT-2041, 11.57%, 10/25/41 STACR 2021-DNA6 35564KLV9 - - 6,250,000 $6,609,746 $6,609,746 0.50 $6,553,423
Cipher Compute LLC 7.125% 15-NOV-2030, 7.12%, 11/15/30 CIFR 17253NAA5 - - 6,464,000 $6,590,063 $6,590,063 0.50 $6,567,035
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 $6,504,777 $6,504,777 0.49 $6,493,960
Westlake Automobile Receivables Trust 2025-2 D 5.08% 15-MAY-2031, 5.08%, 05/15/31 WLAKE 2025-2A 96041KAG9 - - 6,450,000 $6,479,867 $6,479,867 0.49 $6,465,304
Homeward Opportunities Fund Trust 2025-RRTL1 A1 5.476% 25-MAR-2040, 5.48%, 03/25/40 HOF 2025-RRTL1 437919AA1 - - 6,411,000 $6,448,779 $6,448,779 0.49 $6,442,927
Chase Mortgage Reference Notes, Series 2020-CL1 M1 6.35551% 25-OCT-2057, 6.32%, 10/25/57 CHASE 2020-CL1 46591HAG5 - - 6,157,208 $6,348,143 $6,348,143 0.48 $6,341,658
Connecticut Avenue Securities, Series 2021-R03 1M2 5.83279% 25-DEC-2041, 5.72%, 12/25/41 CAS 2021-R03 20754AAB9 - - 6,219,572 $6,249,775 $6,249,775 0.47 $6,243,844
SMRT Commercial Mortgage Trust 2022-MINI D 5.90896% 15-JAN-2039, 5.91%, 01/15/39 SMRT 2022-MINI 78457JAL6 - - 6,250,000 $6,230,812 $6,230,812 0.47 $6,214,398
HPEFS EQUIPMENT TRUST 2025-2 0% 33, 4.77%, 05/20/33 HPEFS 2025-2A 442927AF6 - - 6,000,000 $6,009,307 $6,009,307 0.45 $6,000,562
PRET 2025-RPL1 Trust A1 4.0% 25-JUL-2069, 4.00%, 07/25/69 PRET 2025-RPL1 69392FAA5 - - 6,130,299 $6,001,871 $6,001,871 0.45 $5,981,437
BX Trust 2025-TAIL D 6.40896% 15-JUN-2035, 6.41%, 06/15/35 BX 2025-TAIL 123912AG2 - - 6,000,000 $5,999,760 $5,999,760 0.45 $5,982,670
FS Commercial Mortgage Trust 2023-4SZN D 9.08008% 10-NOV-2039, 9.38%, 11/10/39 FS 2023-4SZN 30334RAG9 - - 5,750,000 $5,943,606 $5,943,606 0.45 $5,898,647
PRET 2025-RPL3 Trust A1 4.15% 25-APR-2065, 4.15%, 04/25/65 PRET 2025-RPL3 69382RAA1 - - 5,939,266 $5,845,043 $5,845,043 0.44 $5,824,503
BX Trust 2024-CNYN D 6.64905% 15-APR-2041, 6.65%, 04/15/41 BX 2024- CNYN 05612HAG6 - - 5,769,688 $5,782,839 $5,782,839 0.44 $5,765,789
QTS ISSUER ABS I 5.439%55, 5.44%, 05/25/55 QTS 2025-1A 74690DAA9 - - 5,517,000 $5,597,407 $5,597,407 0.42 $5,592,406
PRPM 2025-RCF5 5.31%55 A2, 5.31%, 10/25/55 PRPM 2025-RCF5 69384AAB4 - - 5,500,000 $5,540,112 $5,540,112 0.42 $5,515,775
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2025-DNA2 M2 5.68279% 25-MAY-2045, 5.57%, 05/25/45 STACR 2025-DNA2 35564NJA2 - - 5,510,949 $5,517,503 $5,517,503 0.42 $5,512,386
New Residential Mortgage LLC 6.545% 25-MAR-2032, 6.54%, 03/25/32 NZES 2025-FHT 64832EAA7 - - 5,374,803 $5,465,983 $5,465,983 0.41 $5,460,120
Marlette Funding Trust 2025-1 D 6.02% 15-JUL-2035, 6.02%, 07/16/35 MFT 2025-1A 570920AD0 - - 5,368,000 $5,446,438 $5,446,438 0.41 $5,432,075
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 M2 5.98279% 25-NOV-2041, 5.87%, 11/25/41 STACR 2021-DNA7 35564KMH9 - - 5,274,435 $5,305,009 $5,305,009 0.40 $5,299,847
NYC Commercial Mortgage Trust 2025-1155 D 7.358% 10-JUN-2042, 7.60%, 06/10/42 NYC 2025-1155 67122BAE7 - - 5,000,000 $5,194,830 $5,194,830 0.39 $5,163,150
Connecticut Avenue Securities Trust 2025-R04 25-MAY-2045, 5.57%, 05/25/45 CAS 2025-R04 20755TAC5 - - 5,168,240 $5,180,339 $5,180,339 0.39 $5,175,540
FIGRE TRUST 2025-HE5 FLTG 2055 B, 5.49%, 08/25/55 FIGRE 2025-HE5 31684MAB5 - - 5,144,513 $5,178,583 $5,178,583 0.39 $5,155,069
BX Commercial Mortgage Trust 2021-VOLT E 6.073% 15-SEP-2036, 6.07%, 09/15/36 BX 2021-VOLT 05609VAN5 - - 5,166,760 $5,178,069 $5,178,069 0.39 $5,164,122
ABL 2024-RTL1 A2 7.457% 25-SEP-2029, 7.46%, 09/25/29 ABL 2024-RTL1 00092EAB4 - - 5,160,000 $5,171,390 $5,171,390 0.39 $5,164,977
COMPASS DATACENTERS 2025-1 B1, 5.76%, 05/25/50 CMPDC 2025-1A 20469CAC9 - - 5,000,000 $5,088,017 $5,088,017 0.38 $5,083,220
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 B2 11.98279% 25-NOV-2041, 11.87%, 11/25/41 STACR 2021-DNA7 35564KNE5 - - 4,800,000 $5,075,982 $5,075,982 0.38 $5,066,485
Ares LXXI CLO A2 5.58444% 20-APR-2037, 5.99%, 04/20/37 ARES 2024-71A 04020MAC3 - - 5,000,000 $5,048,417 $5,048,417 0.38 $5,014,290
SALUDA GR ALT MTG TR 2025-LOC5 A1B, 5.79%, 10/25/55 GRADE 2025-LOC5 79581XAC2 - - 5,000,000 $5,045,095 $5,045,095 0.38 $5,016,944
GOLDENTREE LOAN MANAGEM US 1 FLTG, 5.32%, 01/20/39 GLM 2025-27A 38140AAE8 - - 5,000,000 $5,021,000 $5,021,000 0.38 $5,021,000
RCKT Mortgage Trust 2025-CES4 A1A 5.811% 25-APR-2055, 5.81%, 05/25/55 RCKT 2025-CES4 74937YAA6 - - 4,927,679 $5,020,038 $5,020,038 0.38 $4,996,176
BX Trust 2025-DIME E 6.95896% 15-FEB-2035, 6.96%, 02/15/35 BX 2025-DIME 05613UAJ0 - - 5,000,000 $5,009,136 $5,009,136 0.38 $4,993,671
Foundation Finance Trust 2025-2 C 5.09% 15-APR-2052, 5.09%, 04/15/52 FFIN 2025-2A 35042NAC9 - - 5,000,000 $5,004,150 $5,004,150 0.38 $4,992,839
ALLY BK AUTO CR LKD NT 2025-B E, 6.16%, 09/15/33 ABCLN 2025-B 02007G6S7 - - 4,960,000 $4,967,222 $4,967,222 0.38 $4,957,031
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 $4,954,589 $4,954,589 0.37 $4,948,921
FHF Issuer Trust 2025-2|5.75|05/15/2030, 5.75%, 05/15/30 FHF 2025-2A 30343DAB0 - - 4,891,000 $4,896,956 $4,896,956 0.37 $4,892,269
SCG Commercial Mortgage Trust 2025-DLFN E 6.90896% 15-MAR-2035, 6.91%, 03/15/35 SCG 2025 78398EAJ4 - - 4,904,000 $4,891,390 $4,891,390 0.37 $4,876,332
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 $4,846,539 $4,846,539 0.37 $4,841,665
Fannie Mae REMIC Trust 2025-9 FA 5.38279% 25-MAR-2055, 5.27%, 03/25/55 FNR 2025-9 3136BVDC9 - - 4,825,163 $4,845,072 $4,845,072 0.37 $4,840,832
TOWD POINT MORTGAGE TRUST 2025 0% 65, 4.97%, 09/25/65 TPMT 2025-FIX1 89183MAA1 - - 4,816,005 $4,839,643 $4,839,643 0.37 $4,819,705
FHLMC STACR REMIC TR 2025-DNA3 M1, 5.17%, 09/25/45 STACR 2025-DNA3 35564UAR8 - - 4,838,961 $4,839,433 $4,839,433 0.37 $4,835,262
PRET 2025-NPL4 A1 6.3677% 25-MAY-2055, 6.37%, 04/25/55 PRET 2025-NPL4 74136UAA3 - - 4,809,009 $4,832,196 $4,832,196 0.37 $4,827,092
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 $4,768,446 $4,768,446 0.36 $4,738,931
BX Commercial Mortgage Trust 2024-MF D 6.64878% 15-FEB-2039, 6.65%, 02/15/39 BX 2024-MF 05612EAG3 - - 4,737,182 $4,749,427 $4,749,427 0.36 $4,735,429
JERSEY MIKES FUNDING LLC 5.61% 55, 5.61%, 08/16/55 JMIKE 2025-1A 476681AE1 - - 4,588,500 $4,707,128 $4,707,128 0.36 $4,695,687
PRPM 2025 RCF4 LLC 4.5% 55, 4.50%, 08/25/55 PRPM 2025-RCF4 69382WAB8 - - 4,800,000 $4,702,732 $4,702,732 0.36 $4,684,732
BX Commercial Mortgage Trust 2024-BIO2 D 7.71271% 15-AUG-2041, 7.97%, 08/13/41 BX 2024-BIO2 05613GAG7 - - 4,702,000 $4,605,727 $4,605,727 0.35 $4,574,498
Lendbuzz Securitization Trust 2024-2 C 7.45% 15-MAY-2031, 7.45%, 05/15/31 LBZZ 2024-2A 525920AD6 - - 4,500,000 $4,588,255 $4,588,255 0.35 $4,573,355
Chase Mortgage Reference Notes, Series 2020-CL1 M2 6.60551% 25-OCT-2057, 6.57%, 10/25/57 CHASE 2020-CL1 46591HAH3 - - 4,447,855 $4,584,967 $4,584,967 0.35 $4,580,098
Compass Datacenters Issuer II, Series 2024-2 B1_2402 25-AUG-2049, 6.00%, 08/25/49 CMPDC 2024-2A 20469AAE9 - - 4,500,000 $4,576,754 $4,576,754 0.35 $4,572,255
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 $4,547,414 $4,547,414 0.34 $4,537,754
NRTH Commercial Mortgage Trust 2025-PARK B 5.60188% 15-OCT-2040, 5.60%, 10/15/40 NRTH 2025-PARK 669985AC7 - - 4,500,000 $4,508,633 $4,508,633 0.34 $4,497,429
PRPM 2025-RCF3, LLC, 5.77%, 08/25/28 PRPM 2025-6 69395KAA1 - - 4,452,440 $4,472,397 $4,472,397 0.34 $4,450,973
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 $4,440,223 $4,440,223 0.34 $4,434,805
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 $4,425,136 $4,425,136 0.33 $4,419,005
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 $4,405,746 $4,405,746 0.33 $4,400,750
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 $4,373,953 $4,373,953 0.33 $4,361,762
GWT Commercial Mortgage Trust 2024-WLF2 E 7.59739% 15-MAY-2041, 7.60%, 05/15/41 GWT 2024-WLF2 362414AJ3 - - 4,322,000 $4,349,441 $4,349,441 0.33 $4,334,847
TOWD POINT MORTGAGE TRUS 5.98666% 65, 5.72%, 07/25/65 TPMT 2025-HE1 89183LAD7 - - 4,300,000 $4,342,549 $4,342,549 0.33 $4,318,578
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 $4,323,760 $4,323,760 0.33 $4,266,512
COMM 2024-WCL1 Mortgage Trust D 7.248% 17-JUN-2041, 7.25%, 06/15/41 COMM 2024-WCL1 20047DAG9 - - 4,250,000 $4,281,060 $4,281,060 0.32 $4,267,369
IRV Trust 2025-200P C 5.73037% 14-MAR-2047, 5.92%, 03/14/47 IRV 2025-200P 45006HAE1 - - 4,200,000 $4,280,924 $4,280,924 0.32 $4,260,199
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 - - 4,264,696 $4,265,749 $4,265,749 0.32 $4,262,038
MTN Commercial Mortgage Trust 2022-LPFL A 5.3569% 15-MAR-2039, 5.36%, 03/15/39 MTN 2022-LPFL 62475WAA3 - - 4,240,000 $4,247,960 $4,247,960 0.32 $4,237,866
RCKT Mortgage Trust 2025-CES5 A1A 5.687% 25-MAY-2055, 5.69%, 05/25/55 RCKT 2025-CES5 74942CAA7 - - 4,163,608 $4,236,380 $4,236,380 0.32 $4,216,647
FIGRE TRUST 2025-FL1 5.467% 55, 5.47%, 07/25/55 FIGRE 2025-FL1 31684QAB6 - - 4,125,463 $4,154,485 $4,154,485 0.31 $4,135,690
Drive Auto Receivables Trust 2025-1 D 5.41% 15-SEP-2032, 5.41%, 09/15/32 DRIVE 2025-1 262102AF3 - - 4,077,000 $4,141,837 $4,141,837 0.31 $4,132,034
BX Trust 2024-VLT4 E 6.848364% 15-JUN-2041, 6.85%, 06/15/41 BX 2024-VLT4 05612TAJ4 - - 4,147,000 $4,132,050 $4,132,050 0.31 $4,119,428
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 $4,116,711 $4,116,711 0.31 $4,094,570
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 $4,055,498 $4,055,498 0.31 $4,049,507
BX Trust 2024-BRBK A 6.8386% 15-OCT-2041, 6.84%, 10/15/41 BX 2024-BRBK 05613NAA5 - - 3,991,885 $4,014,992 $4,014,992 0.30 $4,002,853
Affirm Asset Securitization Trust 2025-X2 D 5.23% 15-OCT-2030, 5.23%, 10/15/30 AFFRM 2025-X2 00835DAD4 - - 4,000,000 $4,011,965 $4,011,965 0.30 $4,004,410
BLP 2025-IND2 D 6.65% 15-DEC-2042, 6.65%, 12/15/42 BLP 2025-IND2 05556WAG1 - - 4,000,000 $4,004,109 $4,004,109 0.30 $3,999,675
JP MORGAN MORTGAGE TRUST 2 5.777% 55, 5.50%, 11/25/55 JPMMT 2025-5MPR 46593VAD9 - - 3,940,439 $3,988,409 $3,988,409 0.30 $3,970,349
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 - - 3,719,000 $3,913,172 $3,913,172 0.30 $3,906,309
JP Morgan Mortgage Trust 2024-CES1 A1B 6.019% 25-JUN-2054, 6.02%, 06/25/54 JPMMT 2024-CES1 46658CAB7 - - 3,830,639 $3,873,395 $3,873,395 0.29 $3,854,181
RCKT MOR 2025-CES9 FLT 2055 A1B, 5.00%, 09/25/55 RCKT 2025-CES9 74942JAB0 - - 3,853,037 $3,870,670 $3,870,670 0.29 $3,854,625
COOPR Residential Mortgage Trust 2025-CES1 A1A 5.654% 25-MAY-2060, 5.65%, 05/25/60 COOPR 2025-CES1 12596SAA1 - - 3,804,844 $3,862,662 $3,862,662 0.29 $3,844,735
Carvana Auto Receivables Trust 2021-N3 E 3.16% 10-JUN-2028, 3.16%, 06/12/28 CRVNA 2021-N3 14687GAF2 - - 3,878,493 $3,822,956 $3,822,956 0.29 $3,815,807
LHOME Mortgage Trust 2024-RTL5 A2 5.751% 25-SEP-2039, 5.75%, 09/25/39 LHOME 2024-RTL5 50205WAB3 - - 3,766,000 $3,791,044 $3,791,044 0.29 $3,787,434
FREMF 2023-K511 Mortgage Trust C 5.822334% 25-NOV-2028, 5.82%, 11/25/28 FREMF 2023-K511 30334FAG5 - - 4,000,000 $3,782,455 $3,782,455 0.29 $3,763,048
BMP Commercial Mortgage Trust 2024-MF23 D 6.34945% 15-JUN-2041, 6.35%, 06/15/41 BMP 2024-MF23 05593JAG5 - - 3,750,000 $3,758,797 $3,758,797 0.28 $3,748,214
Vontive Mortgage Trust 2025-RTL1 A1 6.507% 25-MAR-2030, 6.51%, 03/25/30 VNTV 2025-RTL1 928884AA3 - - 3,672,000 $3,742,278 $3,742,278 0.28 $3,738,295
BX Trust 2021-MFM1 E 6.323% 15-JAN-2034, 6.32%, 01/15/34 BX 2021-MFM1 05608VAL0 - - 3,733,520 $3,741,815 $3,741,815 0.28 $3,731,322
Sierra Timeshare 2025-2 Receivables Funding D 6.79% 20-APR-2044, 6.79%, 04/20/44 SRFC 2025-2A 82653HAD2 - - 3,701,405 $3,735,451 $3,735,451 0.28 $3,727,771
Extended Stay America Trust 2025-ESH E 7.30896% 15-OCT-2042, 7.31%, 10/15/42 ESA 2025-ESH 30227TAJ9 - - 3,675,000 $3,713,488 $3,713,488 0.28 $3,701,550
Extended Stay America Trust 2025-ESH D 6.55896% 15-OCT-2042, 6.56%, 10/15/42 ESA 2025-ESH 30227TAG5 - - 3,675,000 $3,708,824 $3,708,824 0.28 $3,698,111
RCKT Mortgage Trust 2025-CES11|4.966|11/25/2055, 4.97%, 11/25/55 RCKT 2025-CES11 749423AA7 - - 3,658,000 $3,684,227 $3,684,227 0.28 $3,669,089
Chase Auto Owner Trust 2025-1 D 5.24% 25-NOV-2032, 5.24%, 11/26/32 CHAOT 2025-1A 16145NAG6 - - 3,600,000 $3,632,373 $3,632,373 0.27 $3,629,229
Bayview Opportunity Master Fund VII 2025-EDU1 C 5.98279% 25-JUL-2048, 5.87%, 07/27/48 BVCLN 2025-EDU1 07337GAC7 - - 3,596,791 $3,589,356 $3,589,356 0.27 $3,568,501
BX Commercial Mortgage Trust 2024-XL5 D 6.64876% 15-MAR-2041, 6.65%, 03/15/41 BX 2024-XL5 05612GAG8 - - 3,579,163 $3,587,896 $3,587,896 0.27 $3,577,320
BX Trust 2025-LUNR D 6.45896% 15-JUN-2040, 6.46%, 06/15/40 BX 2025-LUNR 05594CAK0 - - 3,550,721 $3,560,838 $3,560,838 0.27 $3,550,645
DROP Mortgage Trust 2021-FILE A 5.223% 15-OCT-2043, 5.22%, 10/15/43 DROP 2021-FILE 26210YAA4 - - 3,650,000 $3,558,711 $3,558,711 0.27 $3,550,237
Connecticut Avenue Securities Trust 2025-R04 25-MAY-2045, 5.27%, 05/25/45 CAS 2025-R04 20755TAB7 - - 3,516,441 $3,520,115 $3,520,115 0.27 $3,517,026
SCG Trust 2025-SNIP D 6.55896% 15-SEP-2042, 6.56%, 09/15/42 SCG 2025-SNIP 78398JAG9 - - 3,500,000 $3,507,808 $3,507,808 0.27 $3,497,605
CSMC 2021-BHAR C 6.074% 15-NOV-2038, 6.07%, 11/15/38 CSMC 2021-BHAR 12659VAJ9 - - 3,446,000 $3,435,915 $3,435,915 0.26 $3,426,613
Taco Bell Funding Series 2025-1 A2I 4.821% 25-AUG-2055, 4.82%, 08/25/55 BELL 2025-1A 87342RAK0 - - 3,425,000 $3,429,698 $3,429,698 0.26 $3,426,946
Homeward Opportunities Fund Trust 2024-RTL1 A2 8.57% 25-JUL-2029, 8.57%, 07/25/29 HOF 43789FAB9 - - 3,391,000 $3,398,941 $3,398,941 0.26 $3,394,097
Saluda Grade Alternative Mortgage Trust 2023-FIG3 A 7.067% 25-AUG-2053, 7.07%, 08/25/53 GRADE 79582AAA5 - - 3,198,468 $3,328,226 $3,328,226 0.25 $3,309,389
BX Trust 2021-ARIA D 5.9684% 15-OCT-2036, 5.97%, 10/15/36 BX 2021-ARIA 05608RAJ4 - - 3,300,000 $3,303,536 $3,303,536 0.25 $3,294,782
RCKT Mortgage Trust 2024-CES9 A1B 5.683% 25-DEC-2044, 5.68%, 12/25/44 RCKT 2024-CES9 749426AB8 - - 3,256,179 $3,296,366 $3,296,366 0.25 $3,280,945
Compass Datacenters Issuer II, Series 2024-2 B2_2402 25-AUG-2049, 6.00%, 08/25/49 CMPDC 2024-2A 20469AAF6 - - 3,250,000 $3,260,621 $3,260,621 0.25 $3,257,371
Connecticut Avenue Securities Trust 2022-R01 1B2 10.18279% 25-DEC-2041, 10.07%, 12/25/41 CAS 2022-R01 20754LAJ8 - - 3,108,409 $3,240,424 $3,240,424 0.24 $3,235,206
Hilton Grand Vacations Trust 2025-1 C 5.52% 25-AUG-2040, 5.52%, 05/27/42 HGVT 2025-1A 43283CAC5 - - 3,158,111 $3,211,768 $3,211,768 0.24 $3,208,862
Wingspire Equipment Finance 2025-1 D 5.45% 20-SEP-2033, 5.45%, 09/20/33 WEF 2025-1A 97415CAE8 - - 3,194,000 $3,211,307 $3,211,307 0.24 $3,205,988
FinBe USA Trust 2025-1 B 6.6% 15-DEC-2030, 6.60%, 12/16/30 FINBE 2025-1A 317967AB3 - - 3,250,000 $3,198,921 $3,198,921 0.24 $3,189,387
SF Abs Issuer LLC|5.377|11/25/2055, 5.38%, 11/25/55 SFARM 2025-1A 784193AA2 - - 3,250,000 $3,197,456 $3,197,456 0.24 $3,196,971
Kioxia Holdings Corporation 6.625% 24-JUL-2033, 6.62%, 07/24/33 KIOXIA 49726JAB4 - - 3,000,000 $3,190,277 $3,190,277 0.24 $3,120,162
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 $3,188,776 $3,188,776 0.24 $3,183,346
Galaxy XXVI CLO Ltd., 6.84%, 07/31/26 GLXYT 2025-1 362922AA4 - - 3,126,500 $3,159,859 $3,159,859 0.24 $3,143,214
VERTICAL BRIDGE LLC 2016-1 7.728% 55, 7.45%, 08/16/55 VBTOW 2025-1A 92535VAU6 - - 3,144,000 $3,154,621 $3,154,621 0.24 $3,144,217
Santander Bank Auto Credit-Linked Notes, Series 2024-A E 7.762% 15-JUN-2032, 7.76%, 06/15/32 SBCLN 2024-A 80290CCM4 - - 3,098,550 $3,152,406 $3,152,406 0.24 $3,141,717
LHOME Mortgage Trust 2024-RTL4 A2 6.092% 25-JUL-2039, 6.09%, 07/25/39 LHOME 2024-RTL4 50205PAB8 - - 3,130,000 $3,145,684 $3,145,684 0.24 $3,142,506
PRPM 2025-2 A1 6.469% 25-MAY-2030, 6.47%, 05/25/30 PRPM 2025-2 69382HAA3 - - 3,119,762 $3,139,163 $3,139,163 0.24 $3,122,345
Libra Solutions 2025-1 B 8.055% 15-AUG-2039, 8.05%, 08/15/39 OASIS 2025-1A 53161AAB7 - - 3,100,000 $3,128,443 $3,128,443 0.24 $3,117,345
VERTICAL BRIDGE LLC 2016-1 9.383% 55, 9.38%, 08/16/55 VBTOW 2025-1A 92535VAW2 - - 3,100,000 $3,095,170 $3,095,170 0.23 $3,082,243
BX Trust 2021-ARIA F 6.6665% 15-OCT-2036, 6.67%, 10/15/36 BX 2021-ARIA 05608RAN5 - - 3,088,000 $3,094,730 $3,094,730 0.23 $3,085,580
BX Trust 2024-BIO C 6.59896% 15-FEB-2041, 6.60%, 02/15/41 BX 2024-BIO 05612AAJ5 - - 3,107,000 $3,084,571 $3,084,571 0.23 $3,075,459
Homeward Opportunities Fund Trust 2024-RTL1 A1 7.12% 25-JUL-2029, 7.12%, 07/25/29 HOF 43789FAA1 - - 3,070,000 $3,077,054 $3,077,054 0.23 $3,073,410
LHOME Mortgage Trust 2024-RTL3 A1 6.9% 25-MAY-2029, 6.90%, 05/25/29 LHOME 2024-RTL3 50205GAA0 - - 3,040,000 $3,071,935 $3,071,935 0.23 $3,068,439
Connecticut Avenue Securities, Series 2021-R01 1B1 7.28279% 25-OCT-2041, 7.17%, 10/25/41 CAS 2021-R01 20754RAF3 - - 3,000,000 $3,053,305 $3,053,305 0.23 $3,049,719
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 $3,046,234 $3,046,234 0.23 $3,043,374
BFLD Commercial Mortgage Trust 2025-5MW C 5.45123% 10-OCT-2042, 5.63%, 10/10/42 BFLD 2025-5MW 088921AC5 - - 3,000,000 $3,039,008 $3,039,008 0.23 $3,024,926
FIGRE TRUST 2025-HE6 FLTG 2055 C, 5.25%, 09/25/55 FIGRE 2025-HE6 31684NAC1 - - 3,041,936 $3,038,374 $3,038,374 0.23 $3,025,078
Carvana Auto Receivables Trust 2025-P3 D 5.47% 10-SEP-2033, 5.47%, 09/12/33 CRVNA 2025-P3 14688AAG2 - - 3,000,000 $3,022,638 $3,022,638 0.23 $3,013,066
SWITCH ABS ISSUER 2025-2 A2 II, 5.37%, 10/25/55 SWTCH 2025-2A 871044AU7 - - 3,000,000 $3,021,446 $3,021,446 0.23 $3,018,764
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 $3,016,577 $3,016,577 0.23 $3,008,732
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 $2,978,481 $2,978,481 0.23 $2,960,244
BXP Trust 2017-GM E 3.4248% 13-JUN-2039, 3.54%, 06/13/39 BXP 2017-GM 056083AN8 - - 3,080,000 $2,952,034 $2,952,034 0.22 $2,942,951
SWCH Commercial Mortgage Trust 2025-DATA E 7.29918% 15-FEB-2042, 7.30%, 02/15/42 SWCH 2025-DATA 78489CAE9 - - 2,950,000 $2,907,822 $2,907,822 0.22 $2,898,252
Lendbuzz Securitization Trust 2025-2 C 5.28% 15-APR-2031, 5.28%, 04/15/31 LBZZ 2025-2A 52611JAD2 - - 2,921,000 $2,888,130 $2,888,130 0.22 $2,881,275
BPR Trust 2024-PMDW D 5.85% 05-NOV-2041, 5.85%, 11/05/41 BPR 2024-PMDW 05592VAJ3 - - 2,870,000 $2,885,458 $2,885,458 0.22 $2,871,467
SCG Commercial Mortgage Trust 2025-FLWR E 6.70896% 15-AUG-2042, 6.71%, 08/15/42 SCG 2025-FLWR 78438AAJ4 - - 2,867,000 $2,872,877 $2,872,877 0.22 $2,864,329
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 $2,866,696 $2,866,696 0.22 $2,859,479
Tricolor Auto Securitization Trust 2025-1 C 5.72% 15-OCT-2029, 5.72%, 10/15/29 TAST 2025-1A 89617CAC5 - - 11,502,000 $2,841,968 $2,841,968 0.21 $2,703,075
Exeter Automobile Receivables Trust 2024-3 E 7.84% 15-OCT-2031, 7.84%, 10/15/31 EART 30165AAG0 - - 2,700,000 $2,827,899 $2,827,899 0.21 $2,818,491
RCKT Mortgage Trust 2025-CES2 A1B 5.603% 25-FEB-2055, 5.60%, 02/25/55 RCKT 2025-CES2 74942BAB7 - - 2,785,279 $2,817,945 $2,817,945 0.21 $2,804,940
RCKT Mortgage Trust 2024-CES8 A1A 5.48955% 25-OCT-2044, 5.49%, 11/25/44 RCKT 2024-CES8 749421AA1 - - 2,787,261 $2,817,694 $2,817,694 0.21 $2,804,943
Santander Bank Auto Credit-Linked Notes, Series 2024-A F 10.171% 15-JUN-2032, 10.17%, 06/15/32 SBCLN 2024-A 80290CCN2 - - 2,718,623 $2,800,656 $2,800,656 0.21 $2,788,367
Wells Fargo Commercial Mortgage Trust 2025-VTT D 6.17616% 15-MAR-2038, 6.38%, 03/15/38 WFCM 2025-VTT 94990GAG4 - - 2,776,000 $2,798,759 $2,798,759 0.21 $2,783,995
Sierra Timeshare 2025-3 Receivables Funding C 4.98% 20-AUG-2044, 4.98%, 08/22/44 SRFC 2025-3A 82650FAC1 - - 2,795,535 $2,782,144 $2,782,144 0.21 $2,777,890
Great Wolf Trust 2024-WOLF G 9.39496% 15-MAR-2039, 9.39%, 03/15/39 GWT 2024-WOLF 39152MAN5 - - 2,750,000 $2,769,496 $2,769,496 0.21 $2,758,013
BX Trust 2025-ROIC E 6.90025% 15-FEB-2042, 6.90%, 03/15/30 BX 2025-ROIC 05593VAN3 - - 2,771,192 $2,759,678 $2,759,678 0.21 $2,751,180
A&D Mortgage Trust 2025-NQM2 A1 5.79% 25-JUN-2070, 5.79%, 06/25/70 ADMT 2025-NQM2 00250EAC0 - - 2,683,235 $2,721,063 $2,721,063 0.21 $2,708,116
Wells Fargo Commercial Mortgage Trust 2024-MGP C11 7.04811% 15-AUG-2041, 7.05%, 08/15/41 WFCM 2024-MGP 95003TAE3 - - 2,695,567 $2,698,584 $2,698,584 0.20 $2,690,140
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 $2,696,722 $2,696,722 0.20 $2,693,554
Lendbuzz Securitization Trust 2024-2 B 6.52% 15-FEB-2030, 6.52%, 07/16/29 LBZZ 2024-2A 525920AC8 - - 2,650,000 $2,689,580 $2,689,580 0.20 $2,681,901
FIGRE Trust 2024-HE3 C 6.229% 25-JUL-2054, 6.23%, 07/25/54 FIGRE 2024-HE3 31684GAC6 - - 2,646,470 $2,678,303 $2,678,303 0.20 $2,675,555
FINANCE OF AMERICA STRUC 3.28125% 74, 3.50%, 04/25/74 FASST 2024-S3 31739WAB8 - - 2,741,273 $2,674,206 $2,674,206 0.20 $2,672,607
UPG HI 2025-2 Issuer Trust|5.98|09/25/2047, 5.98%, 09/25/47 UPGHI 2025-2A 90321EAB8 - - 2,665,000 $2,673,667 $2,673,667 0.20 $2,671,011
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 $2,673,632 $2,673,632 0.20 $2,672,026
MHC Commercial Mortgage Trust 2021-MHC F 6.674442% 15-APR-2038, 6.67%, 04/15/38 MHC 2021-MHC 55316VAL8 - - 2,660,000 $2,669,294 $2,669,294 0.20 $2,661,403
Connecticut Avenue Securities Trust 2024-R06 1M2 5.78279% 25-SEP-2044, 5.67%, 09/25/44 CAS 2024-R06 20755RAC9 - - 2,647,442 $2,650,845 $2,650,845 0.20 $2,648,342
HILTON GRAND VACATIONS TRUS 5.12% 44, 5.12%, 05/25/44 HGVT 2025-2A 43285JAC8 - - 2,632,898 $2,649,470 $2,649,470 0.20 $2,647,224
Reach ABS Trust 2025-2 C 5.69% 15-AUG-2032, 5.69%, 08/18/32 REACH 2025-2A 75525QAC4 - - 2,593,000 $2,607,565 $2,607,565 0.20 $2,601,007
Coinstar Funding Series 2017-1 A2 5.216% 25-APR-2047, 5.22%, 04/25/47 COIN 2017-1A 19260MAA4 - - 2,745,000 $2,564,986 $2,564,986 0.19 $2,550,668
Lendbuzz Securitization Trust 2024-1 C 7.58% 15-SEP-2030, 7.58%, 09/15/30 LBZZ 2024-1A C 525935AD4 - - 2,500,000 $2,555,270 $2,555,270 0.19 $2,546,848
USB Auto Owner Trust 2025-1 D 5.4% 15-DEC-2032, 5.40%, 12/15/32 USCAR 2025-1A 90367VAG4 - - 2,500,000 $2,554,467 $2,554,467 0.19 $2,548,467
Connecticut Avenue Securities Trust 2024-R05 2M1 5.18279% 25-JUL-2044, 5.07%, 07/25/44 CAS 2024-R05 20754XAB9 - - 2,553,501 $2,554,100 $2,554,100 0.19 $2,551,942
Wingspire Equipment Finance 2024-1 D 6.31% 20-SEP-2032, 6.31%, 09/20/32 WEF 2024-1A 97415AAE2 - - 2,500,000 $2,548,272 $2,548,272 0.19 $2,543,452
ExteNet Issuer, Series 2025-1 C_251 8.272% 25-JUL-2054, 8.27%, 07/25/54 EXTNT 2025-1A 30227XAS0 - - 2,500,000 $2,543,581 $2,543,581 0.19 $2,540,135
Wells Fargo Commercial Mortgage Trust 2024-1CHI C 6.22623% 15-JUL-2035, 6.43%, 07/15/35 WFCM 2024-1CHI 95003PAE1 - - 2,500,000 $2,537,995 $2,537,995 0.19 $2,524,591
Sandstone Peak III C 6.50798% 25-APR-2037, 6.51%, 04/25/37 SAND 2024-1A 799928AJ5 - - 2,500,000 $2,528,936 $2,528,936 0.19 $2,513,118
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 $2,524,216 $2,524,216 0.19 $2,517,760
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 $2,523,603 $2,523,603 0.19 $2,518,717
Zais CLO 11 BR 5.67444% 20-JAN-2032, 5.67%, 01/20/32 ZAIS 2018-11A 98887YAQ0 - - 2,500,000 $2,521,157 $2,521,157 0.19 $2,504,607
WB Commercial Mortgage Trust 2024-HQ C 6.90331% 16-MAR-2040, 7.13%, 03/15/40 WB 2024-HQ 92943PAE1 - - 2,500,000 $2,513,171 $2,513,171 0.19 $2,498,310
RCKTL 2025-2 0% 34, 4.95%, 11/27/34 RCKTL 2025-2A 74939HAC7 - - 2,500,000 $2,508,099 $2,508,099 0.19 $2,497,099
MTN Commercial Mortgage Trust 2022-LPFL B 5.8556% 15-MAR-2039, 5.86%, 03/15/39 MTN 2022-LPFL 62475WAC9 - - 2,500,000 $2,507,760 $2,507,760 0.19 $2,501,253
BX Commercial Mortgage Trust 2024-AIR2 D 6.74945% 15-OCT-2041, 6.75%, 10/15/41 BX 2024-AIR2 05613QAG5 - - 2,489,072 $2,500,641 $2,500,641 0.19 $2,493,174
RCKT Mortgage Trust 2024-CES7 A1A 5.158% 25-OCT-2044, 5.16%, 10/25/44 RCKT 2024-CES7 749414AA6 - - 2,480,617 $2,496,354 $2,496,354 0.19 $2,485,692
FIGRE TRUST 2025-HE6 FLTG 2055 B, 5.14%, 09/25/55 FIGRE 2025-HE6 31684NAB3 - - 2,485,725 $2,487,892 $2,487,892 0.19 $2,477,236
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA1 B2 11.28279% 25-JAN-2042, 11.17%, 01/25/42 STACR 2022-DNA1 35564KQZ5 - - 2,350,000 $2,485,027 $2,485,027 0.19 $2,480,651
Upstart Securitization Trust 2025-3 C 5.43% 20-SEP-2035, 5.43%, 09/20/35 UPST 2025 91684FAD0 - - 2,473,000 $2,479,059 $2,479,059 0.19 $2,474,956
280 Park Avenue 2017-280P Mortgage Trust B 5.352% 15-SEP-2034, 5.35%, 09/15/34 PRK 2017-280P 90205FAG5 - - 2,500,000 $2,477,993 $2,477,993 0.19 $2,472,047
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 $2,472,296 $2,472,296 0.19 $2,470,376
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 $2,453,096 $2,453,096 0.19 $2,436,770
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 $2,443,192 $2,443,192 0.18 $2,437,281
Hudson's Bay Simon JV Trust 2015-HBS B10 4.9056% 05-AUG-2034, 4.91%, 08/05/34 HBCT 44422PBW1 - - 2,500,000 $2,438,877 $2,438,877 0.18 $2,428,657
PRET 2025-RPL5 TRUST FLTG 2070 A1, 4.15%, 01/25/70 PRET 2025-RPL5 69393AAA5 - - 2,463,288 $2,416,641 $2,416,641 0.18 $2,408,122
TOWD PT MTG TR 2025-FIX2 FLTG A1, 5.25%, 10/25/65 TPMT 2025-FIX2 89183RAA0 - - 2,338,290 $2,414,147 $2,414,147 0.18 $2,345,563
FIGRE TRUST 2025-PF2 FLTG 2055 B, 5.12%, 10/25/55 FIGRE 2025-PF2 316918AB7 - - 2,411,957 $2,410,199 $2,410,199 0.18 $2,399,914
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 $2,405,859 $2,405,859 0.18 $2,399,425
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAA3 - - 2,372,507 $2,395,119 $2,395,119 0.18 $2,384,740
Reach ABS Trust 2024-1 C 6.9% 15-FEB-2031, 6.90%, 02/18/31 REACH 2024-1A 75526PAC5 - - 2,295,000 $2,382,572 $2,382,572 0.18 $2,375,534
PRM7 Trust 2025-PRM7 E 6.61844% 10-NOV-2042, 6.84%, 11/10/42 PRM7 2025-PRM7 74290HAJ5 - - 2,385,000 $2,376,345 $2,376,345 0.18 $2,362,752
ALA Trust 2025-OANA D 7.04972% 15-JUN-2040, 7.05%, 06/15/40 ALA 2025-OANA 009920AG4 - - 2,333,000 $2,347,608 $2,347,608 0.18 $2,340,298
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 $2,342,855 $2,342,855 0.18 $2,335,314
SREIT Commercial Mortgage Trust 2021-MFP2 F 6.6912% 15-NOV-2036, 6.69%, 11/15/36 SREIT 2021-MFP2 85236WCQ7 - - 2,334,000 $2,337,980 $2,337,980 0.18 $2,331,039
LHOME Mortgage Trust 2024-RTL1 A1 7.017% 25-JAN-2029, 7.02%, 01/25/29 LHOME 2024-RTL1 50205DAA7 - - 2,311,000 $2,321,672 $2,321,672 0.18 $2,318,969
FIGRE TRUST 2025-PF2 FLTG 2055 C, 5.22%, 10/25/55 FIGRE 2025-PF2 316918AC5 - - 2,315,479 $2,314,085 $2,314,085 0.17 $2,304,016
Connecticut Avenue Securities, Series 2021-R03 1B1 6.93279% 25-DEC-2041, 6.82%, 12/25/41 CAS 2021-R03 20754AAF0 - - 2,250,000 $2,288,545 $2,288,545 0.17 $2,285,987
Connecticut Avenue Securities Trust 2025-R06 1M1 5.13279% 25-SEP-2045, 5.02%, 09/25/45 CAS 2025-R06 20754YAB7 - - 2,260,056 $2,260,102 $2,260,102 0.17 $2,258,210
Acacia 2025-1 A 5.24% 15-NOV-2037, 5.24%, 11/15/37 ACACIA 2025-1 00401PAA7 - - 2,251,000 $2,258,938 $2,258,938 0.17 $2,253,041
EFMT 2025-CES1 A1B 5.877% 25-JAN-2060, 5.88%, 01/25/60 EFMT 2025-CES1 26846VAB0 - - 2,209,350 $2,242,822 $2,242,822 0.17 $2,232,002
BXP Trust 2017-GM D 3.4248% 13-JUN-2039, 3.54%, 06/13/39 BXP 056083AL2 - - 2,310,000 $2,240,991 $2,240,991 0.17 $2,234,179
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 $2,200,471 $2,200,471 0.17 $2,195,249
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 $2,194,235 $2,194,235 0.17 $2,186,607
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 $2,176,790 $2,176,790 0.16 $2,174,290
BX Commercial Mortgage Trust 2024-GPA3 C 5.85098% 15-DEC-2039, 5.85%, 12/15/39 BX 2024-GPA3 123910AE1 - - 2,165,574 $2,171,543 $2,171,543 0.16 $2,165,912
BAMLL Re-REMIC Trust 2025-FRR5 E736 0.937924% 27-SEP-2052, 0.86%, 09/27/52 BAMLL 05494BAJ6 - - 2,405,067 $2,167,290 $2,167,290 0.16 $2,165,566
CONE Trust 2024-DFW1 A 5.60069% 15-AUG-2041, 5.60%, 08/15/41 CONE 2024-DFW1 20682AAA8 - - 2,165,000 $2,166,125 $2,166,125 0.16 $2,160,736
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 $2,154,685 $2,154,685 0.16 $2,147,033
PRPM 2025-RPL3 A1 3.25% 25-APR-2055, 3.25%, 04/25/55 PRPM 2025-RPL3 69392NAA8 - - 2,222,409 $2,144,521 $2,144,521 0.16 $2,138,502
FINANCE OF AMER STR TR 2024-S2 A1, 3.50%, 04/25/74 FASST 2024-S2 31739VAA2 - - 2,181,421 $2,136,646 $2,136,646 0.16 $2,135,374
Great Wolf Trust 2024-WOLF D 6.84896% 15-MAR-2039, 6.85%, 03/15/39 GWT 2024-WOLF 39152MAG0 - - 2,103,000 $2,109,871 $2,109,871 0.16 $2,103,469
Affirm Asset Securitization Trust 2024-X1 C 6.57% 15-MAY-2029, 6.57%, 05/15/29 AFFRM 2024-X1 00834XAC3 - - 2,087,767 $2,098,230 $2,098,230 0.16 $2,092,134
MKT 2020-525M Mortgage Trust D 2.9406% 12-FEB-2040, 3.04%, 02/12/40 MKT 55316PAJ6 - - 2,500,000 $2,056,927 $2,056,927 0.16 $2,050,596
Reach ABS Trust 2025-1 C 5.99% 15-AUG-2032, 5.99%, 08/16/32 REACH 2025-1A 75525PAC6 - - 2,000,000 $2,041,405 $2,041,405 0.15 $2,036,080
Post Road Equipment Finance 2025-1 E 7.08% 15-MAY-2032, 7.08%, 05/17/32 PREF 2025-1A 73747LAF5 - - 2,000,000 $2,040,629 $2,040,629 0.15 $2,034,335
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 $2,028,836 $2,028,836 0.15 $2,026,325
PRPM 2025-RCF5 6.7%55 A3, 5.46%, 10/25/55 PRPM 2025-RCF5 69384AAC2 - - 2,000,000 $2,018,285 $2,018,285 0.15 $2,009,185
GS MTG-BKD TRUST 2025-CES2 A1, 5.18%, 09/25/55 GSMBS 2025-CES2 36273BAA7 - - 2,001,877 $2,017,449 $2,017,449 0.15 $2,008,807
SMRT Commercial Mortgage Trust 2022-MINI F 7.30896% 15-JAN-2039, 7.31%, 01/15/39 SMRT 2022-MINI 78457JAQ5 - - 2,025,000 $2,014,251 $2,014,251 0.15 $2,007,673
Libra Solutions 2024-1 A 5.88% 30-SEP-2038, 5.88%, 09/30/38 OASIS 2024-1A 53161XAA9 - - 2,000,000 $2,009,289 $2,009,289 0.15 $1,999,162
Lennar Corporation Class A LEN US 526057104 - - 14,999 $1,969,369 $1,969,369 0.15 $1,969,369
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 $1,964,663 $1,964,663 0.15 $1,960,792
LIFE 2022-BMR2 Mortgage Trust D 6.50087% 15-MAY-2039, 6.50%, 05/15/39 LIFE 2022-BMR2 53218DAJ7 - - 2,215,000 $1,964,479 $1,964,479 0.15 $1,958,079
Tricolor Auto Securitization Trust 2024-1 A 6.61% 15-OCT-2027, 6.61%, 10/15/27 TAST 2024-1A 89616LAA0 - - 1,945,522 $1,934,919 $1,934,919 0.15 $1,918,487
BX Commercial Mortgage Trust 2024-AIR2 C 6.20024% 15-OCT-2041, 6.20%, 10/15/41 BX 2024-AIR2 05613QAE0 - - 1,918,360 $1,924,148 $1,924,148 0.15 $1,918,861
EASY STREET MORTGAGE LN 5.606%40 A1, 5.61%, 10/25/40 EASY 2025-RTL2 27786YAA6 - - 1,900,000 $1,906,900 $1,906,900 0.14 $1,905,124
FIGRE TRUST 2025-HE4 FLTG 2055 C, 5.71%, 07/25/55 FIGRE 2025-HE4 31684PAC6 - - 1,879,400 $1,901,705 $1,901,705 0.14 $1,892,764
COMM 2016-667M A 3.14% 10-OCT-2036, 3.14%, 10/10/36 COMM 12636GAA9 - - 2,120,000 $1,875,200 $1,875,200 0.14 $1,869,653
Saluda Grade Alternative Mortgage Trust 2024-FIG5 B 6.603% 25-APR-2054, 6.60%, 04/25/54 GRADE 2024-FIG5 79582MAB7 - - 1,805,329 $1,836,269 $1,836,269 0.14 $1,826,335
ACHM Trust 2024-HE1 B 7.26% 25-MAY-2039, 7.26%, 05/25/39 ACHM 2024-HE1 00449TAB1 - - 1,769,224 $1,834,433 $1,834,433 0.14 $1,832,292
BX Trust 2024-BRBK B 7.88556% 15-OCT-2041, 7.89%, 10/15/41 BX 2024-BRBK 05613NAG2 - - 1,850,000 $1,830,830 $1,830,830 0.14 $1,824,343
OPEN Trust 2023-AIR B 7.796957% 15-NOV-2040, 7.80%, 11/15/40 OPEN 2023-AIR 68373BAC5 - - 1,823,847 $1,830,090 $1,830,090 0.14 $1,823,770
FIGRE Trust 2025-HE3 B 5.71% 25-MAY-2055, 5.71%, 05/25/55 FIGRE 2025-HE3 31684LAB7 - - 1,778,565 $1,816,848 $1,816,848 0.14 $1,808,384
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 $1,812,158 $1,812,158 0.14 $1,810,553
Angel Oak Mortgage Trust 2025-6 A2 5.768% 25-APR-2070, 5.77%, 04/25/70 AOMT 2025-6 034937AB8 - - 1,789,521 $1,810,086 $1,810,086 0.14 $1,801,484
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 $1,807,778 $1,807,778 0.14 $1,803,346
BX Trust 2021-BXMF G 7.422513% 15-OCT-2038, 7.42%, 10/15/26 BX 2021-BXMF 05609RAS3 - - 1,808,470 $1,807,242 $1,807,242 0.14 $1,801,275
BXHPP Trust 2021-FILM C 5.173% 15-AUG-2036, 5.17%, 08/15/36 BXHPP 2021-FILM 05609JAL6 - - 1,950,000 $1,805,634 $1,805,634 0.14 $1,801,150
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 $1,804,253 $1,804,253 0.14 $1,802,234
FIGRE Trust 2025-HE3 C 5.91% 25-MAY-2055, 5.91%, 05/25/55 FIGRE 2025-HE3 31684LAC5 - - 1,778,565 $1,799,842 $1,799,842 0.14 $1,791,083
Alterna Funding III B 7.136% 15-MAY-2039, 7.14%, 05/16/39 TAX 2024-1A 02157JAC9 - - 1,767,799 $1,776,208 $1,776,208 0.13 $1,770,602
Flagship Credit Auto Trust 2021-1 D 1.27% 15-MAR-2027, 1.27%, 03/15/27 FCAT 2021-1 33843WAG6 - - 1,788,387 $1,771,138 $1,771,138 0.13 $1,770,128
Extended Stay America Trust 2025-ESH F 8.05896% 15-OCT-2042, 8.06%, 10/15/42 ESA 2025-ESH 30227TAL4 - - 1,750,000 $1,769,832 $1,769,832 0.13 $1,763,564
SBNA Auto Receivables Trust 2025-SF1 D 5.34% 15-MAY-2030, 5.34%, 09/15/31 SBAT 2025-SF1 78437XAD8 - - 1,750,000 $1,769,207 $1,769,207 0.13 $1,765,054
CarMax Auto Owner Trust 2025-4 D 5.11% 15-MAR-2032, 5.11%, 05/17/32 CARMX 2025-4 14320HAH9 - - 1,750,000 $1,768,162 $1,768,162 0.13 $1,764,188
Wells Fargo Commercial Mortgage Trust 2025-VTT E 6.90721% 15-MAR-2038, 7.14%, 03/15/38 WFCM 2025-VTT 94990GAJ8 - - 1,735,000 $1,755,517 $1,755,517 0.13 $1,745,198
Gracie Point International Funding, Series 2024-1 B 6.45559% 01-MAR-2028, 6.46%, 03/01/28 GPIF 2024-1A 38410KAB5 - - 1,724,000 $1,753,584 $1,753,584 0.13 $1,725,761
RCKT MORTGAGE TRUST 2025-CE 5.42% 34, 5.42%, 07/25/34 RCKTL 2025-1A 74939RAD3 - - 1,750,000 $1,744,181 $1,744,181 0.13 $1,742,600
EFMT 2025-RTL1|5.565|11/25/2040, 5.57%, 11/25/40 EFMT 2025-RTL1 26846FAB5 - - 1,717,000 $1,723,917 $1,723,917 0.13 $1,720,466
CarMax Auto Owner Trust 2024-1 D 6.0% 15-JUL-2030, 6.00%, 07/15/30 CARMX 2024-1 14318WAH0 - - 1,620,000 $1,669,529 $1,669,529 0.13 $1,665,209
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 $1,665,705 $1,665,705 0.13 $1,655,097
UMBS TBA 30yr 4% December Delivery, 4.00%, 12/11/25 FNCL 01F0406C6 - - 1,738,000 $1,655,756 $1,655,756 0.13 $1,655,756
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 $1,648,381 $1,648,381 0.12 $1,645,027
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 $1,616,290 $1,616,290 0.12 $1,614,578
CALI Mortgage Trust 2019-101C B 4.158% 10-MAR-2039, 4.16%, 03/10/39 CALI 129890AG4 - - 1,700,000 $1,614,612 $1,614,612 0.12 $1,608,722
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 $1,612,026 $1,612,026 0.12 $1,610,679
Business Jet Securities, Series 2024-1 B 6.924% 15-MAY-2039, 6.92%, 05/15/39 BJETS 2024-1A 12327CAB0 - - 1,544,229 $1,597,541 $1,597,541 0.12 $1,592,789
BX Commercial Mortgage Trust 2024-WPT D 6.64866% 15-APR-2041, 6.65%, 03/15/34 BX 2024-WPT 05612JAG2 - - 1,580,000 $1,587,327 $1,587,327 0.12 $1,582,658
RCKT Mortgage Trust 2024-CES8 A1B 5.64082% 25-OCT-2044, 5.64%, 11/25/44 RCKT 2024-CES8 749421AB9 - - 1,551,064 $1,568,755 $1,568,755 0.12 $1,561,464
Hotwire Funding, Series 2024-1 C_2024_1 9.188% 20-JUN-2054, 9.19%, 06/20/54 HWIRE 44148JAM1 - - 1,500,000 $1,565,322 $1,565,322 0.12 $1,561,111
COOPR Residential Mortgage Trust 2025-CES3 A1A 4.84% 25-SEP-2060, 4.84%, 09/25/60 COOPR 2025-CES3 216926AA3 - - 1,524,213 $1,549,255 $1,549,255 0.12 $1,521,319
ExteNet Issuer, Series 2024-1 C_241 9.696429% 25-JUL-2054, 9.05%, 07/25/54 EXTNT 2024-1A 30227XAL5 - - 1,500,000 $1,544,442 $1,544,442 0.12 $1,542,179
USB Auto Owner Trust 2025-1 C 4.96% 15-MAR-2031, 4.96%, 03/17/31 USCAR 2025-1A 90367VAF6 - - 1,500,000 $1,528,429 $1,528,429 0.12 $1,525,123
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 $1,525,156 $1,525,156 0.12 $1,520,576
RCKT MORTGAGE TR 2025-CES8 A1A, 5.15%, 08/25/55 RCKT 2025-CES8 74939WAA8 - - 1,509,865 $1,524,740 $1,524,740 0.12 $1,518,263
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 $1,520,969 $1,520,969 0.11 $1,516,540
DC Trust 2024-HLTN C 7.036% 13-APR-2040, 7.29%, 04/13/40 DC 2024-HLTN 24022FAG5 - - 1,500,000 $1,512,895 $1,512,895 0.11 $1,503,787
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 $1,511,553 $1,511,553 0.11 $1,508,239
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 $1,508,031 $1,508,031 0.11 $1,503,578
Gracie Point International Funding, Series 2025-1 C 0.0% 15-AUG-2028, 7.06%, 08/15/28 GPIF 2025-1A 38411WAC6 - - 1,500,000 $1,507,318 $1,507,318 0.11 $1,502,608
SALUDA GR ALT MTG TR 25 RRTL1 A1, 5.32%, 10/25/40 GRADE 2025-RRTL1 79582NAA7 - - 1,500,000 $1,506,838 $1,506,838 0.11 $1,500,188
JW Commercial Mortgage Trust 2024-MRCO C 6.34901% 15-JUN-2039, 6.35%, 06/15/39 JW 2024-MRCO 46657XAE6 - - 1,500,000 $1,503,793 $1,503,793 0.11 $1,499,561
BX Trust 2021-ARIA E 6.3175% 15-OCT-2036, 6.32%, 10/15/36 BX 2021-ARIA 05608RAL9 - - 1,500,000 $1,503,074 $1,503,074 0.11 $1,498,862
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 $1,493,415 $1,493,415 0.11 $1,490,560
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 $1,471,557 $1,471,557 0.11 $1,461,065
FIGRE TRUST 2025 HE4 FLTG 2055 B, 5.61%, 07/25/55 FIGRE 2025-HE4 31684PAB8 - - 1,454,802 $1,470,928 $1,470,928 0.11 $1,464,130
Rithm Capital Corp. 8.0% 01-APR-2029, 8.00%, 04/01/29 RITM 64828TAB8 - - 1,417,000 $1,466,563 $1,466,563 0.11 $1,447,670
Ally Bank Auto Credit-Linked Notes, Series 2025-A E 6.066% 15-JUN-2033, 6.07%, 06/15/33 ABCLN 2025-A 02007G5H2 - - 1,462,845 $1,463,826 $1,463,826 0.11 $1,459,883
QTS ISSUER ABS I 5.928%55, 5.93%, 05/25/55 QTS 2025-1A 74690DAB7 - - 1,442,000 $1,462,535 $1,462,535 0.11 $1,461,110
BAMLL Re-REMIC Trust 2025-FRR5 EK86 0.0% 27-NOV-2051, 0.00%, 11/27/51 BAMLL 05494BBJ5 - - 1,892,604 $1,453,737 $1,453,737 0.11 $1,453,737
RCKT Mortgage Trust 2025-CES7 A1B 5.478% 25-JUL-2055, 5.48%, 07/25/55 RCKT 2025-CES7 74943AAB8 - - 1,418,645 $1,434,197 $1,434,197 0.11 $1,427,721
LHOME Mortgage Trust 2024-RTL3 A2 8.373% 25-MAY-2029, 8.37%, 05/25/29 LHOME 2024-RTL3 50205GAB8 - - 1,400,000 $1,422,132 $1,422,132 0.11 $1,420,178
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 $1,382,248 $1,382,248 0.10 $1,378,952
BAMLL Re-REMIC Trust 2025-FRR5 EK73 0.009926% 27-FEB-2051, 0.01%, 02/27/51 BAMLL 05494BAW7 - - 1,784,783 $1,358,250 $1,358,250 0.10 $1,358,235
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 - - 1,582,006 $1,349,837 $1,349,837 0.10 $1,348,798
Garda World Security Corporation 6.0% 01-JUN-2029, 6.00%, 06/01/29 GWCN 36485MAL3 - - 1,333,000 $1,348,771 $1,348,771 0.10 $1,308,781
MVW 2025-1 C 5.75% 20-SEP-2042, 5.75%, 09/22/42 MVWOT 2025-1A 627924AC7 - - 1,307,834 $1,341,022 $1,341,022 0.10 $1,338,724
Santander Bank Auto Credit-Linked Notes, Series 2023-B E 8.408% 15-DEC-2033, 8.41%, 12/15/33 SBCLN 2023-B 80290CCE2 - - 1,287,099 $1,312,951 $1,312,951 0.10 $1,308,141
RCKT MORTGAGE TRUST 2025 5.24863% 55, 5.25%, 08/25/55 RCKT 2025-CES8 74939WAB6 - - 1,290,475 $1,299,312 $1,299,312 0.10 $1,293,668
COOPR Residential Mortgage Trust 2025-CES2 A1A 5.502% 25-JUN-2060, 5.50%, 06/25/60 COOPR 2025-CES2 12674UAA1 - - 1,277,874 $1,296,242 $1,296,242 0.10 $1,290,383
FOUNDATION FINANCE TRUST 20 5.71% 52, 5.71%, 08/15/52 FFIN 2025-3A 35042TAD4 - - 1,275,000 $1,284,266 $1,284,266 0.10 $1,280,019
Foundation Finance Trust 2024-1 D 8.13% 15-DEC-2049, 8.13%, 12/15/49 FFIN 2024-1A 349941AD6 - - 1,199,851 $1,276,985 $1,276,985 0.10 $1,272,649
Great Wolf Trust 2024-WOLF C 6.34996% 15-MAR-2039, 6.35%, 03/15/39 GWT 2024-WOLF 39152MAE5 - - 1,260,000 $1,264,923 $1,264,923 0.10 $1,261,367
COMM 2024-WCL1 Mortgage Trust C 6.848% 17-JUN-2041, 6.85%, 06/15/41 COMM 2024-WCL1 20047DAE4 - - 1,250,000 $1,262,902 $1,262,902 0.10 $1,259,098
United Auto Credit Securitization Trust 2024-1 C 7.06% 10-OCT-2029, 7.06%, 10/10/29 UACST 2024-1 90945DAC4 - - 1,245,051 $1,254,233 $1,254,233 0.09 $1,249,106
Oceanview Mortgage Trust 2025-INV4|4.99888|12/25/2055, 5.00%, 12/25/55 BVINV 2025-4 67647DAU3 - - 1,230,000 $1,230,345 $1,230,345 0.09 $1,229,320
Ally Bank Auto Credit-Linked Notes, Series 2024-B E 6.678% 15-SEP-2032, 6.68%, 09/15/32 ABCLN 2024-B 02007G4F7 - - 1,209,093 $1,217,911 $1,217,911 0.09 $1,214,323
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 $1,216,938 $1,216,938 0.09 $1,213,600
PRPM 2025-RPL4 A1, 3.00%, 05/25/55 PRPM 2025-RPL4 74448NAA2 - - 1,263,985 $1,195,439 $1,195,439 0.09 $1,192,279
LHOME Mortgage Trust 2024-RTL2 A2 8.897% 25-MAR-2029, 8.90%, 03/25/29 LHOME 2024-RTL2 50205JAB2 - - 1,175,000 $1,189,375 $1,189,375 0.09 $1,187,633
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 $1,188,534 $1,188,534 0.09 $1,184,000
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 $1,183,514 $1,183,514 0.09 $1,180,079
MTN Commercial Mortgage Trust 2022-LPFL D 6.9028% 15-MAR-2039, 6.90%, 03/15/39 MTN 2022-LPFL 62475WAG0 - - 1,175,000 $1,178,622 $1,178,622 0.09 $1,175,017
RCKT Mortgage Trust 2024-CES6 A1B 5.546% 25-SEP-2044, 5.55%, 09/25/44 RCKT 2024-CES6 749410AB2 - - 1,162,025 $1,171,526 $1,171,526 0.09 $1,166,156
Ally Bank Auto Credit-Linked Notes, Series 2024-B F 8.036% 15-SEP-2032, 8.04%, 09/15/32 ABCLN 2024-B 02007G4G5 - - 1,148,639 $1,169,647 $1,169,647 0.09 $1,165,544
FIGRE TRUST 2025-HE4 5.408% 55, 5.41%, 07/25/55 FIGRE 2025-HE4 31684PAA0 - - 1,125,463 $1,139,940 $1,139,940 0.09 $1,134,868
RCKT MORT 2025-CES9 FLT 2055 A1A, 4.79%, 09/25/55 RCKT 2025-CES9 74942JAA2 - - 1,116,468 $1,119,569 $1,119,569 0.08 $1,115,107
MKT 2020-525M Mortgage Trust F 2.9406% 12-FEB-2040, 3.04%, 02/12/40 MKT 55316PAN7 - - 1,541,000 $1,117,526 $1,117,526 0.08 $1,113,624
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 $1,091,152 $1,091,152 0.08 $1,088,624
BX Trust 2024-VLT4 D 6.399012% 15-JUN-2041, 6.40%, 06/15/41 BX 2024-VLT4 05612TAG0 - - 1,100,000 $1,090,344 $1,090,344 0.08 $1,087,216
BX Trust 2024-CNYN C 5.90012% 15-APR-2041, 5.90%, 04/15/41 BX 2024- CNYN 05612HAE1 - - 1,081,816 $1,083,285 $1,083,285 0.08 $1,080,448
MS RES MTG LN TR 2025-SPL1 A1, 4.25%, 02/25/65 MSRM 2025-SPL1 617946AA6 - - 1,098,406 $1,082,525 $1,082,525 0.08 $1,078,635
RCKT Mortgage Trust 2025-CES10 A1A 4.894% 25-OCT-2055, 4.89%, 11/25/55 RCKT 2025-CES10 74939LAA2 - - 1,051,938 $1,055,986 $1,055,986 0.08 $1,051,696
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 $1,055,289 $1,055,289 0.08 $1,052,710
Reach ABS Trust 2024-2 D 8.83% 15-JUL-2031, 8.83%, 07/15/31 REACH 2024-2A 75525HAD2 - - 1,000,000 $1,053,663 $1,053,663 0.08 $1,049,739
Connecticut Avenue Securities Trust 2025-R01 1M2 5.68279% 25-JAN-2045, 5.57%, 01/25/45 CAS 2025-R01 20755JAC7 - - 1,054,000 $1,052,267 $1,052,267 0.08 $1,051,288
FHF Issuer Trust 2024-2 (First Help Financial) A2 5.89% 15-JUN-2030, 5.89%, 06/15/30 FHF 2024-2A 30336NAC5 - - 1,039,499 $1,047,479 $1,047,479 0.08 $1,044,758
LIFE 2021-BMR Mortgage Trust E 5.823% 15-MAR-2038, 5.82%, 03/15/38 LIFE 2021-BMR 53218CAJ9 - - 1,050,000 $1,046,272 $1,046,272 0.08 $1,043,554
Foundation Finance Trust 2023-2 D 9.1% 15-JUN-2049, 9.10%, 06/15/49 FFIN 2023-2A 35042RAD8 - - 973,266 $1,045,225 $1,045,225 0.08 $1,041,288
SBNA Auto Receivables Trust 2024-A E 8.0% 15-APR-2032, 8.00%, 04/15/32 SBAT 2024-A 78437PAH6 - - 1,000,000 $1,025,914 $1,025,914 0.08 $1,022,359
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 B1 7.83279% 25-NOV-2041, 7.72%, 11/25/41 STACR 2021-DNA7 35564KND7 - - 1,000,000 $1,024,248 $1,024,248 0.08 $1,022,961
MHC Commercial Mortgage Trust 2021-MHC G 7.274442% 15-APR-2038, 7.27%, 04/15/38 MHC 2021-MHC 55316VAN4 - - 1,020,000 $1,023,853 $1,023,853 0.08 $1,020,555
OnDeck Asset Securitization IV, Series 2024-1 C 8.99% 17-JUN-2031, 8.99%, 06/17/31 ONDK 67118NAC1 - - 1,000,000 $1,023,548 $1,023,548 0.08 $1,020,052
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 $1,018,111 $1,018,111 0.08 $1,002,511
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 $1,013,978 $1,013,978 0.08 $1,008,000
OnDeck Asset Securitization IV, Series 2024-1 B 7.15% 17-JUN-2031, 7.15%, 06/17/31 ONDK 67118NAB3 - - 1,000,000 $1,013,151 $1,013,151 0.08 $1,010,370
FIGRE Trust 2025-PF1 A 5.758% 25-JUN-2055, 5.76%, 06/25/55 FIGRE 2025-PF1 316922AA1 - - 987,223 $1,010,688 $1,010,688 0.08 $1,005,951
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 $1,010,151 $1,010,151 0.08 $1,005,310
FIGRE Trust 2024-HE1 C 6.749% 25-MAR-2054, 6.75%, 03/25/54 FIGRE 2024-HE1 31684HAC4 - - 988,003 $1,009,776 $1,009,776 0.08 $1,008,664
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 $1,009,164 $1,009,164 0.08 $1,005,866
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 $1,008,520 $1,008,520 0.08 $1,007,561
Carvana Auto Receivables Trust 2025-P3 C 4.99% 10-JAN-2032, 4.99%, 01/12/32 CRVNA 2025-P3 14688AAF4 - - 1,000,000 $1,004,860 $1,004,860 0.08 $1,001,949
MTN Commercial Mortgage Trust 2022-LPFL F 9.245169% 15-MAR-2039, 9.25%, 03/15/39 MTN 2022-LPFL 62475WAL9 - - 1,000,000 $1,004,768 $1,004,768 0.08 $1,000,659
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2024-DNA3 M2 5.63279% 25-OCT-2044, 5.52%, 10/25/44 STACR 2024-DNA3 35564NFA6 - - 990,000 $991,927 $991,927 0.07 $991,016
PRET 2025-RPL2 Trust A1 4.0% 25-FEB-2065, 4.00%, 08/25/64 PRET 2025-RPL2 69392LAA2 - - 968,250 $956,028 $956,028 0.07 $952,801
Marlette Funding Trust 2023-2 D 7.92% 15-JUN-2033, 7.92%, 06/15/33 MFT 2023-2A 57109LAD5 - - 900,000 $919,296 $919,296 0.07 $916,128
Alloya Auto Receivables Trust 2025-1 B 4.99% 25-MAR-2030, 4.99%, 03/25/30 ALLCU 2025-1A 01986QAJ7 - - 900,000 $908,448 $908,448 0.07 $907,700
Bayview Opportunity Master Fund VII Trust 2024-CAR1 D 6.23279% 25-DEC-2031, 6.12%, 12/26/31 BVCLN 2024-CAR1 07336QAD4 - - 878,140 $888,565 $888,565 0.07 $882,998
RAM 2024-1 A 5.95% 15-FEB-2039, 6.67%, 02/15/39 RAM 2024-1 751313AA5 - - 870,934 $873,806 $873,806 0.07 $871,225
FINANCE OF AMERICA STRUCTURE 3.5% 74, 3.50%, 02/25/74 FASST 2024-S1 31740RAB6 - - 877,530 $861,597 $861,597 0.07 $861,085
Tricolor Auto Securitization Trust 2024-1 D 8.61% 15-APR-2028, 8.61%, 04/17/28 TAST 2024-1A 89616LAD4 - - 1,500,000 $850,783 $850,783 0.06 $845,043
Connecticut Avenue Securities, Series 2021-R02 2B1 7.48279% 25-NOV-2041, 7.37%, 11/25/41 CAS 2021-R02 20754KAF8 - - 831,001 $848,623 $848,623 0.06 $847,602
Homeward Opportunities Fund Trust 2025-RRTL2 A1 5.237% 25-AUG-2040, 5.24%, 09/25/40 HOF 2025-RRTL2 437923AA3 - - 839,000 $842,997 $842,997 0.06 $842,265
Santander Bank Auto Credit-Linked Notes, Series 2024-B G 12.231% 15-DEC-2032, 12.23%, 01/18/33 SBCLN 2024-B 80280BAG3 - - 830,448 $842,867 $842,867 0.06 $838,353
Santander Bank Auto Credit Linked Notes Series 2024-B 18-JAN-2033, 8.88%, 01/18/33 SBCLN 2024-B 80280BAF5 - - 830,448 $841,960 $841,960 0.06 $838,682
Connecticut Avenue Securities Trust 2022-R07 1M2 8.83279% 25-JUN-2042, 8.72%, 06/25/42 CAS 2022-R07 20754MCB1 - - 783,000 $825,145 $825,145 0.06 $824,007
Hudson's Bay Simon JV Trust 2015-HBS C10 5.447% 05-AUG-2034, 5.63%, 08/05/34 HBCT 2015-HB10 44422PBY7 - - 859,000 $808,058 $808,058 0.06 $804,029
Flagship Credit Auto Trust 2022-1 C 3.06% 15-MAR-2028, 3.06%, 03/15/28 FCAT 2022-1 33845VAE1 - - 806,298 $801,678 $801,678 0.06 $800,581
BXHPP Trust 2021-FILM A 4.723% 15-AUG-2036, 4.72%, 08/15/36 BXHPP 2021-FILM 05609JAA0 - - 820,000 $792,465 $792,465 0.06 $790,743
Exeter Automobile Receivables Trust 2024-1 E 7.89% 15-AUG-2031, 7.89%, 08/15/31 EART 2024-1A 30167PAG5 - - 750,000 $784,238 $784,238 0.06 $781,608
Theorem Funding Trust 2022-3 B 8.95% 15-APR-2029, 8.95%, 04/15/29 THRM 2022-3A 882925AB6 - - 763,044 $777,321 $777,321 0.06 $774,286
Chase Mortgage Reference Notes, Series 2020-CL1 M4 8.45551% 25-OCT-2057, 8.42%, 10/25/57 CHASE 2020-CL1 46591HAK6 - - 725,766 $769,517 $769,517 0.06 $768,499
Crockett Partners Equipment Company IIA B 6.78% 20-JAN-2031, 6.78%, 01/20/31 EQS 2024-1C 22689LAB1 - - 757,576 $760,852 $760,852 0.06 $759,282
Prosper Marketplace Issuance Trust, Series 2024-1 C 6.96% 15-AUG-2029, 6.96%, 08/15/29 PMIT 74363CAC3 - - 750,000 $758,305 $758,305 0.06 $755,985
Crockett Partners Equipment Company IIA C 10.16% 20-JAN-2031, 10.16%, 01/20/31 EQS 2024-1C 22689LAC9 - - 757,576 $755,109 $755,109 0.06 $752,757
Bayview Opportunity Master Fund VII Trust 2024-EDU1 C 5.98279% 25-JUN-2047, 5.87%, 06/25/47 BVCLN 2024-EDU1 07336PAC8 - - 748,701 $749,038 $749,038 0.06 $748,291
Bayview Opportunity Master Fund VII Trust 2024-EDU1 D 6.93279% 25-JUN-2047, 6.82%, 06/25/47 BVCLN 2024-EDU1 07336PAD6 - - 727,309 $744,114 $744,114 0.06 $743,287
FIGRE Trust 2024-HE4 C 5.301% 25-SEP-2054, 5.30%, 09/25/54 FIGRE 2024-HE4 31684UAC5 - - 738,688 $739,327 $739,327 0.06 $738,674
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 $732,823 $732,823 0.06 $731,754
Marlette Funding Trust 2023-1 D 8.15% 15-APR-2033, 8.15%, 04/15/33 MFT 2023-1A 57110PAD3 - - 700,000 $715,658 $715,658 0.05 $713,122
Affirm Asset Securitization Trust 2024-A D_1 6.89% 15-FEB-2029, 6.89%, 02/15/29 AFFRM 2024-A 00834BAD9 - - 700,000 $704,606 $704,606 0.05 $702,462
LHOME MORTGAGE TR 2025-RTL3 A1, 5.24%, 08/25/40 LHOME 2025-RTL3 50205YAA1 - - 700,000 $704,076 $704,076 0.05 $703,464
Tricolor Auto Securitization Trust 2025-1 D 6.84% 15-APR-2031, 6.84%, 04/15/31 TAST 2025-1A 89617CAD3 - - 3,240,000 $682,690 $682,690 0.05 $635,904
ACHV ABS Trust 2023-1PL (Freed) D 8.47% 18-MAR-2030, 8.47%, 03/18/30 ACHV 2023-1PL 00091XAD9 - - 654,416 $662,390 $662,390 0.05 $660,388
Westgate Resorts 2024-1 D 9.26% 20-JAN-2038, 9.26%, 01/20/38 WESTR 2024-1A 96034KAD5 - - 642,672 $658,554 $658,554 0.05 $653,595
Westgate Resorts 2024-1 C 7.06% 20-JAN-2038, 7.06%, 01/20/38 WESTR 2024-1A 96034KAC7 - - 642,672 $654,966 $654,966 0.05 $651,185
Ally Bank Auto Credit-Linked Notes, Series 2025-A F 6.942% 15-JUN-2033, 6.94%, 06/15/33 ABCLN 2025-A 02007G5J8 - - 645,373 $651,991 $651,991 0.05 $650,000
Bayview Opportunity Master Fund VII Trust 2024-CAR1 E 7.78279% 25-DEC-2031, 7.67%, 12/26/31 BVCLN 2024-CAR1 07336QAE2 - - 621,033 $631,627 $631,627 0.05 $626,708
Gracie Point International Funding, Series 2024-1 D 11.50559% 01-MAR-2028, 11.51%, 03/01/28 GPIF 2024-1A D 38410KAD1 - - 600,000 $619,000 $619,000 0.05 $601,742
RCKT Mortgage Trust 2024-CES1 A1B 6.325% 25-FEB-2044, 6.33%, 02/25/44 RCKT 2024-CES1 749424AB3 - - 608,860 $617,183 $617,183 0.05 $613,974
Taco Bell Funding Series 2018-1 2018-A2II 4.94% 25-NOV-2048, 4.94%, 11/25/48 BELL 2018-1A 87342RAE4 - - 571,500 $572,817 $572,817 0.04 $572,346
Rain City Mortgage Trust 2024-RTL1 A2 8.021% 25-SEP-2029, 8.02%, 11/25/29 RCITY 2024-RTL1 75079KAB9 - - 560,000 $566,364 $566,364 0.04 $565,616
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 $547,124 $547,124 0.04 $545,899
Mello Warehouse Securitization Trust 2024-1 F 9.179% 25-OCT-2057, 9.20%, 10/25/57 MWST 2024-1 58553FAF2 - - 542,000 $541,234 $541,234 0.04 $540,402
Blue Bridge Funding 2023-1 C 9.5% 15-NOV-2030, 9.50%, 11/15/30 BBEF 2023-1A 09531MAC4 - - 546,000 $534,973 $534,973 0.04 $532,667
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 $533,313 $533,313 0.04 $531,834
TYSN 2023-CRNR Mortgage Trust A 6.579745% 10-DEC-2038, 6.80%, 12/10/33 TYSN 2023-CRNR 87332PAA8 - - 500,000 $530,477 $530,477 0.04 $527,644
Marlette Funding Trust 2023-4 B 8.15% 15-DEC-2033, 8.15%, 12/15/33 MFT 2023-4A 57108UAB0 - - 500,000 $522,628 $522,628 0.04 $520,817
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 $519,392 $519,392 0.04 $519,033
Connecticut Avenue Securities, Series 2021-R01 1M2 5.73279% 25-OCT-2041, 5.62%, 10/25/41 CAS 2021-R01 20754RAB2 - - 513,535 $514,908 $514,908 0.04 $514,427
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 $514,302 $514,302 0.04 $512,946
Upstart Securitization Trust 2023-3 B 8.25% 20-OCT-2033, 8.25%, 10/20/33 UPST 2023-3 91684MAB9 - - 500,000 $513,232 $513,232 0.04 $511,972
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 $513,060 $513,060 0.04 $511,647
LAD Auto Receivables Trust 2024-1 D 6.15% 15-JUN-2031, 6.15%, 06/16/31 LADAR 2024-1A 501689AG8 - - 500,000 $512,101 $512,101 0.04 $510,734
Ally Bank Auto Credit-Linked Notes, Series 2024-A F 9.892% 15-MAY-2032, 9.89%, 05/17/32 ABCLN 2024-A 02007GZ97 - - 494,857 $511,626 $511,626 0.04 $509,450
Ally Auto Receivables Trust 2024-1 D 5.8% 15-FEB-2032, 5.80%, 02/16/32 ALLYA 2024-1 02008FAG9 - - 500,000 $510,636 $510,636 0.04 $509,347
Bridgecrest Lending Auto Securitization Trust 2024-1 D 6.03% 15-NOV-2029, 6.03%, 11/15/29 BLAST 2024-1 107933AF0 - - 500,000 $510,530 $510,530 0.04 $509,190
Gracie Point International Funding, Series 2024-1 C 7.85559% 01-MAR-2028, 7.86%, 03/01/28 GPIF 2024-1A 38410KAC3 - - 500,000 $510,455 $510,455 0.04 $500,635
Exeter Automobile Receivables Trust 2024-1 D 5.84% 15-JUN-2030, 5.84%, 06/17/30 EART 2024-1A 30167PAF7 - - 500,000 $509,729 $509,729 0.04 $508,431
Sierra Timeshare 2024-3 Receivables Funding D 6.93% 20-JUN-2041, 6.93%, 08/20/41 SRFC 2024-3A 82653BAD5 - - 507,839 $509,465 $509,465 0.04 $508,389
Lendbuzz Securitization Trust 2024-1 B 6.58% 15-SEP-2029, 6.58%, 09/15/29 LBZZ 2024-1A 525935AC6 - - 500,000 $509,383 $509,383 0.04 $507,921
WB Commercial Mortgage Trust 2024-HQ D 8.0108% 16-MAR-2040, 8.28%, 03/15/40 WB 2024-HQ 92943PAG6 - - 500,000 $504,119 $504,119 0.04 $500,670
Affirm Asset Securitization Trust 2024-A D_2 6.89% 15-FEB-2029, 6.89%, 02/15/29 AFFRM 2024-A 00834BAJ6 - - 500,000 $503,290 $503,290 0.04 $501,759
Post Road Equipment Finance 2024-1 E 8.5% 15-OCT-2031, 8.50%, 12/15/31 PREF 2024-1A 737473AF5 - - 450,000 $462,043 $462,043 0.03 $460,343
Sierra Timeshare 2024-2 Receivables Funding D 7.48% 20-JUN-2041, 7.48%, 06/20/41 SRFC 2024-2A 82650DAD4 - - 452,453 $459,204 $459,204 0.03 $458,170
Gls Auto Select Receivables Trust 2023-1 7.93% 15-JUL-2030, 7.93%, 07/15/30 GSAR 2023-1A 36267FAL2 - - 400,000 $426,460 $426,460 0.03 $425,050
RAM 2024-1 B 7.785% 15-FEB-2039, 7.79%, 02/15/39 RAM 2024-1 751313AB3 - - 412,951 $414,570 $414,570 0.03 $413,142
FHF Trust 2023-1 (First Help Financial) A2 6.57% 15-JUN-2028, 6.57%, 06/15/28 FHF 2023-1A 30331GAC5 - - 409,770 $412,927 $412,927 0.03 $411,730
Post Road Equipment Finance 2024-1 D 6.77% 15-OCT-2031, 6.77%, 10/15/30 PREF 2024-1A 737473AE8 - - 400,000 $410,236 $410,236 0.03 $409,033
Santander Bank Auto Credit-Linked Notes, Series 2023-B F 12.24% 15-DEC-2033, 12.24%, 12/15/33 SBCLN 2023-B 80290CCF9 - - 386,130 $403,660 $403,660 0.03 $401,559
Ally Bank Auto Credit-Linked Notes, Series 2024-A E 7.917% 15-MAY-2032, 7.92%, 05/17/32 ABCLN 2024-A 02007GZ89 - - 388,463 $395,805 $395,805 0.03 $394,438
BAMLL Re-REMIC Trust 2024-FRR4 E 0.011205% 27-NOV-2048, 0.71%, 11/27/48 BAMLL 05493VAJ3 - - 400,000 $395,556 $395,556 0.03 $395,321
BAMLL Re-REMIC Trust 2024-FRR4 F 0.010514% 27-JAN-2026, 0.66%, 11/27/48 BAMLL 05493VAL8 - - 400,119 $395,036 $395,036 0.03 $394,815
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 $386,368 $386,368 0.03 $385,262
Chase Mortgage Reference Notes, Series 2020-CL1 M3 7.45551% 25-OCT-2057, 7.42%, 10/25/57 CHASE 2020-CL1 46591HAJ9 - - 371,229 $385,345 $385,345 0.03 $384,886
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAB1 - - 369,875 $371,875 $371,875 0.03 $370,257
BHG Securitization Trust 2024-1CON (Bankers Healthcare Group) B 6.49% 17-APR-2035, 6.49%, 04/17/35 BHG 2024-1A 08862HAB8 - - 359,589 $370,772 $370,772 0.03 $369,864
Tricolor Auto Securitization Trust 2024-1 C 6.99% 15-JAN-2028, 6.99%, 01/18/28 TAST 2024-1A 89616LAC6 - - 500,000 $363,360 $363,360 0.03 $355,982
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 $361,296 $361,296 0.03 $361,028
Connecticut Avenue Securities Trust 2023-R05 1B1 8.93279% 25-JUN-2043, 8.82%, 06/25/43 CAS 2023-R05 207942AC7 - - 310,000 $332,373 $332,373 0.03 $331,917
LHOME Mortgage Trust 2024-RTL2 A1 7.128% 25-MAR-2029, 7.13%, 03/25/29 LHOME 50205JAA4 - - 321,901 $324,358 $324,358 0.02 $323,976
Dext ABS 2023-2 D 8.3% 15-MAY-2034, 8.30%, 05/15/34 DEXT 2023-2 25216CAE0 - - 300,000 $319,683 $319,683 0.02 $318,576
BX Commercial Mortgage Trust 2024-MF C 5.89986% 15-FEB-2039, 5.90%, 02/15/39 BX 2024-MF 05612EAE8 - - 309,909 $310,507 $310,507 0.02 $309,694
Ally Bank Auto Credit-Linked Notes, Series 2024-A G 12.748% 15-MAY-2032, 12.75%, 05/17/32 ABCLN 2024-A 02007G2A0 - - 296,914 $307,614 $307,614 0.02 $305,932
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 $301,763 $301,763 0.02 $301,501
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 $301,325 $301,325 0.02 $299,926
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAC9 - - 300,000 $300,666 $300,666 0.02 $299,354
CSMC 2021-BHAR E 7.574% 15-NOV-2038, 7.57%, 11/15/38 CSMC 2021-BHAR 12659VAN0 - - 300,000 $296,892 $296,892 0.02 $295,882
Churchill Downs Incorporated CHDN US 171484108 - - 2,695 $293,998 $293,998 0.02 $293,998
Chase Mortgage Reference Notes, Series 2021-CL1 M3 5.73279% 25-FEB-2050, 5.62%, 02/25/50 CHASE 2021-CL1 46591HBZ2 - - 291,358 $285,477 $285,477 0.02 $285,204
Golden Pear Securitization, Series 2024-1 A 6.95% 15-FEB-2036, 6.95%, 02/15/36 PEAR 2024-1 704933AA8 - - 279,560 $283,412 $283,412 0.02 $282,548
Hudson's Bay Simon JV Trust 2015-HBS C7 5.159% 05-AUG-2034, 5.33%, 08/05/34 HBCT 2015-HB7 44422PBE1 - - 282,366 $280,331 $280,331 0.02 $279,076
RCKT Mortgage Trust 2023-CES1 A1A 6.515% 25-JUN-2043, 6.51%, 06/25/43 RCKT 74935WAA2 - - 263,426 $265,807 $265,807 0.02 $264,377
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 $261,966 $261,966 0.02 $261,597
Santander Bank Auto Credit-Linked Notes, Series 2023-B D 6.663% 15-DEC-2033, 6.66%, 12/15/33 SBCLN 2023-B 80290CCD4 - - 257,420 $261,841 $261,841 0.02 $261,079
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 $255,655 $255,655 0.02 $254,791
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 $249,814 $249,814 0.02 $248,974
Pawnee Equipment Receivables, Series 2022-1 D 7.23% 15-SEP-2029, 7.23%, 07/17/28 PWNE 2022-1 70410DAF5 - - 250,000 $249,367 $249,367 0.02 $248,564
Luxury Lease Partners Auto Lease Trust 2024-4 A 7.292% 15-JAN-2030, 7.29%, 07/15/30 LLP 2024-4 55068XAA8 - - 242,256 $243,118 $243,118 0.02 $242,333
BXHPP Trust 2021-FILM B 4.973% 15-AUG-2036, 4.97%, 08/15/36 BXHPP 2021-FILM 05609JAJ1 - - 250,000 $236,191 $236,191 0.02 $235,638
Santander Bank Auto Credit-Linked Notes, Series 2024-B E 6.799% 15-DEC-2032, 6.80%, 01/18/33 SBCLN 2024-B 80280BAE8 - - 230,680 $232,735 $232,735 0.02 $232,038
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 $216,645 $216,645 0.02 $216,282
FIGRE Trust 2024-HE4 B 5.252% 25-SEP-2054, 5.25%, 09/25/54 FIGRE 2024-HE4 31684UAB7 - - 206,146 $206,735 $206,735 0.02 $206,555
Auxilior Term Funding 2023-1 E 10.97% 15-DEC-2032, 10.97%, 12/15/32 XCAP 2023-1A 05335JAF0 - - 200,000 $205,100 $205,100 0.02 $204,125
Blue Bridge Funding 2023-1 B 9.48% 15-NOV-2030, 9.48%, 11/15/30 BBEF 2023-1A 09531MAB6 - - 200,000 $204,526 $204,526 0.02 $203,684
Readycap Lending Small Business Loan Trust 2023-3 A 7.32% 25-APR-2048, 7.07%, 04/25/48 RCLT 75576AAA1 - - 202,296 $203,920 $203,920 0.02 $203,682
BHG Securitization Trust 2024-1CON (Bankers Healthcare Group) A 5.81% 17-APR-2035, 5.81%, 04/17/35 BHG 2024-1A 08862HAA0 - - 159,950 $164,230 $164,230 0.01 $163,868
Commonbond Student Loan Trust 2017-A-GS B 3.47% 25-MAY-2041, 3.47%, 05/25/41 CBSLT 2017-AGS 20267VAC1 - - 172,925 $159,708 $159,708 0.01 $159,608
Commonbond Student Loan Trust 2021-A-GS B 1.4% 25-MAR-2052, 1.40%, 03/25/52 CBSLT 2021-AGS 20268WAB0 - - 190,357 $149,022 $149,022 0.01 $148,977
Westgate Resorts 2023-1 D 10.14% 20-DEC-2037, 10.14%, 12/20/37 WESTR 2023-1A 96033EAD0 - - 124,770 $128,596 $128,596 0.01 $127,542
Reach ABS Trust 2024-2 A 5.88% 15-JUL-2031, 5.88%, 07/15/31 REACH 2024-2A 75525HAA8 - - 119,311 $120,225 $120,225 0.01 $119,913
Commonbond Student Loan Trust 2016-B B 4.0% 25-OCT-2040, 4.00%, 10/25/40 CBSLT 2016-B 20267UAC3 - - 106,143 $102,084 $102,084 0.01 $102,013
Commonbond Student Loan Trust 2016-A B 4.0% 25-MAY-2040, 4.00%, 05/25/40 CBSLT 2016-A 20267TAC6 - - 103,500 $101,033 $101,033 0.01 $100,964
Ginnie Mae REMIC Trust 2005-065 FA 4.29552% 20-AUG-2035, 4.22%, 08/20/35 GNR 2005-65 38374LL25 - - 99,550 $98,331 $98,331 0.01 $98,202
Commonbond Student Loan Trust 2018-C-GS B 4.25% 25-FEB-2046, 4.25%, 02/25/46 CBSLT 2018-CGS 20267XAC7 - - 98,238 $94,122 $94,122 0.01 $94,053
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 - - 88,376 $89,395 $89,395 0.01 $89,101
Commonbond Student Loan Trust 2018-B-GS C 4.12% 25-SEP-2045, 4.12%, 09/25/45 CBSLT 2018-BGS 20268MAD8 - - 84,418 $73,974 $73,974 0.01 $73,916
NetCredit Combined Receivables 2024 A 7.43% 20-OCT-2030, 7.43%, 10/21/30 ENVA 2024-A 64113EAA7 - - 69,390 $69,646 $69,646 0.01 $69,489
Santander Consumer Auto Receivables Trust 2021-C C 2.97% 15-OCT-2028, 2.97%, 06/15/28 SCART 2021-CA 80281HAC8 - - 65,560 $65,588 $65,588 0.00 $65,501
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 $59,807 $59,807 0.00 $59,711
Westgate Resorts 2022-1 D 3.838% 20-AUG-2036, 3.84%, 08/20/36 WESTR 2022-1A 96034JAD8 - - 53,259 $53,056 $53,056 0.00 $52,886
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 $49,556 $49,556 0.00 $49,509
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 $46,971 $46,971 0.00 $46,941
ACHV ABS Trust 2024-1PL C 6.42% 25-APR-2031, 6.42%, 04/25/31 ACHV 2024-1PL 00092BAC8 - - 27,558 $27,766 $27,766 0.00 $27,736
FREED ABS Trust 2022-1FP D 3.35% 18-NOV-2028, 3.35%, 03/19/29 FREED 2022-1FP 35633KAD8 - - 21,612 $21,624 $21,624 0.00 $21,597
Santander Bank Auto Credit-Linked Notes, Series 2023-A E 10.068% 15-JUN-2033, 10.07%, 06/15/33 SBCLN 2023-A 80290CBX1 - - 12,915 $13,002 $13,002 0.00 $12,944
US 10yr Ultra Fut Mar26 MAR 26 UXYH6 FUTURES_USD - -294.00 $-34,163,719 $0 0.00 $0
US 10YR NOTE (CBT)Mar26 MAR 26 TYH6 FUTURES_USD - -124.00 $-14,054,625 $0 0.00 $0
US 2YR NOTE (CBT) Mar26 MAR 26 TUH6 FUTURES_USD - 1,949 $407,066,924 $0 0.00 $0
US 5YR NOTE (CBT) Mar26 MAR 26 FVH6 FUTURES_USD - 1,594 $174,966,406 $0 0.00 $0
US ULTRA BOND CBT Mar26 MAR 26 WNH6 FUTURES_USD - -109.00 $-13,182,188 $0 0.00 $0
ESZ5 19Dec25 Call (AMERICAN PHYSICAL) 7175 ESZ5C ESZ5 INDEX $7,175.00 -89.00 $-30,524,775 $-15,798 0.00 $-15,798
ESZ5 19Dec25 Put (AMERICAN PHYSICAL) 6150 ESZ5P ESZ5 INDEX $6,150.00 -89.00 $30,524,775 $-25,588 0.00 $-25,588
UMBS TBA 30yr 5% December Delivery, 5.00%, 12/11/25 FNCL 01F0506C5 - - -63,560,000 $-63,447,562 $-63,447,562 -4.79 $-63,447,562
UMBS TBA 30yr 2.5% December Delivery, 2.50%, 12/11/25 FNCL 01F0226C4 - - -189,990,000 $-161,724,238 $-161,724,238 -12.22 $-161,724,238
SEGREGATED CASH SEGCASH - $0.00 8,340,000 $8,340,000 $8,340,000 0.63 $8,340,000
US DOLLARS USD MD_142224 - - -324,448,399 $-324,448,399 $-324,448,399 -24.52 $-324,448,399
PGIM AAA CLO ETF 05/07/26 PAAA US 69344A834 $51.33 1,169,022 $60,146,182 $146,128 0.01 $146,128
Janus Henderson AAA CLO ETF 01/23/26 JAAA US 47103U845 $50.72 920,527 $46,698,335 $64,437 0.00 $64,437
Janus Henderson AAA CLO ETF 01/23/26 - 47103U845 $50.74 133,100 $6,752,163 $9,317 0.00 $9,317
3 MONTH SOFR FUT Dec25 DEC 25 SFRZ5 FUTURES_USD - 125.00 $120,334,375 $0 0.00 $0
3 MONTH SOFR FUT Mar26 MAR 26 SFRH6 FUTURES_USD - 125.00 $30,140,625 $0 0.00 $0
3 MONTH SOFR FUT Jun26 JUN 26 SFRM6 FUTURES_USD - 125.00 $30,217,188 $0 0.00 $0
3 MONTH SOFR FUT Sep26 SEP 26 SFRU6 FUTURES_USD - 125.00 $30,271,875 $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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