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For Individual Investors in the US

Mortgage-Backed Securities ETF Holdings

Full Portfolio Holdings

(As of November 13, 2026)

Ticker Cusip Underlying Security Strike Price Quantity (Shares/ Par/ Units/ Contracts) Notional Value Market Value Weight % Current Market Value
UMBS TBA 30yr 2.5% December Delivery, 2.50%, 12/10/26 FNCL 01F0226C4 - 1,393,917,386 $1,098,836,227 $1,098,836,227 18.14 $1,098,836,227
GNMA II TBA 30yr 2.5% December Delivery, 2.50%, 12/17/26 G2SF 21H0226C0 - 710,603,414 $575,020,993 $575,020,993 9.49 $575,020,993
UMBS TBA 30yr 6% December Delivery, 6.00%, 12/10/26 FNCL 01F0606C4 - 530,859,481 $523,595,200 $523,595,200 8.64 $523,595,200
UMBS TBA 30yr 6.5% December Delivery, 6.50%, 12/10/26 FNCL 01F0626C0 - 322,559,000 $324,736,273 $324,736,273 5.36 $324,736,273
UMBS TBA 30yr 3% December Delivery, 3.00%, 12/10/26 FNCL 01F0306C7 - 385,203,710 $317,473,342 $317,473,342 5.24 $317,473,342
FNMA 30yr Pool#FA5633 4.500% 01-Sep-2053, 4.50%, 09/01/53 FN 3140W6HK1 - 308,844,778 $292,108,119 $292,108,119 4.82 $287,489,331
UMBS TBA 30yr 2% December Delivery, 2.00%, 12/10/26 FNCL 01F0206C8 - 360,986,255 $272,161,255 $272,161,255 4.49 $272,161,255
FNMA 30yr Pool#FA1943 5.500% 01-May-2055, 5.50%, 05/01/55 FN 3140W2ER8 - 195,824,338 $193,146,145 $193,146,145 3.19 $190,675,941
GNMA II TBA 30yr 5% December Delivery, 5.00%, 12/17/26 G2SF 21H0506C1 - 198,508,194 $185,992,451 $185,992,451 3.07 $185,992,451
FNMA 30yr Pool#FA6706 6.000% 01-Jun-2056, 6.00%, 06/01/56 FN 3140W7NY2 - 158,755,433 $162,707,729 $162,707,729 2.68 $157,675,463
GNMA II TBA 30yr 5.5% December Delivery, 5.50%, 12/17/26 G2SF 21H0526C7 - 164,697,000 $158,750,944 $158,750,944 2.62 $158,750,944
UMBS TBA 30yr 3.5% December Delivery, 3.50%, 12/10/26 FNCL 01F0326C3 - 178,743,000 $152,940,733 $152,940,733 2.52 $152,940,733
FHLMC 30yr Pool#RJ6896 5.500% 01-Jun-2056, 5.50%, 06/01/56 FR 3142GXUW5 - 151,990,410 $149,646,810 $149,646,810 2.47 $147,909,825
UMBS TBA 30yr 4% December Delivery, 4.00%, 12/10/26 FNCL 01F0406C6 - 166,700,930 $147,084,231 $147,084,231 2.43 $147,084,231
UMBS TBA 30yr 4% January Delivery, 4.00%, 01/14/27 FNCL 01F040610 - 166,724,915 $146,769,110 $146,769,110 2.42 $146,769,110
FNMA 30yr Pool#FA5682 5.500% 01-May-2056, 5.50%, 05/01/56 FN 3140W6J45 - 129,224,302 $128,028,332 $128,028,332 2.11 $125,754,934
FNMA 30yr Pool#FA5419 4.500% 01-Aug-2053, 4.50%, 08/01/53 FN 3140W6AV4 - 137,095,980 $127,476,157 $127,476,157 2.10 $126,091,914
FHLMC 30yr Pool#SL6335 6.000% 01-Aug-2056, 6.00%, 08/01/56 FR 31427UBD4 - 114,030,006 $115,239,693 $115,239,693 1.90 $113,095,335
GNMA II 30yr Pool#MA7988 3.000% 20-Apr-2052, 3.00%, 04/20/52 G2 36179W2V9 - 133,273,052 $113,629,932 $113,629,932 1.87 $112,223,351
GNMA II TBA 30yr 3.5% December Delivery, 3.50%, 12/17/26 G2SF 21H0326C9 - 132,283,377 $111,096,871 $111,096,871 1.83 $111,096,871
GNMA II TBA 30yr 4.5% December Delivery, 4.50%, 12/17/26 G2SF 21H0426C8 - 114,736,488 $103,489,558 $103,489,558 1.71 $103,489,558
FHLMC 30yr Pool#SL3899 5.000% 01-Jan-2056, 5.00%, 01/01/56 FR 31427RKM1 - 107,618,739 $102,249,447 $102,249,447 1.69 $101,294,924
FHLMC 30yr Pool#SL6334 6.000% 01-Jun-2056, 6.00%, 06/01/56 FR 31427UBC6 - 99,072,255 $101,570,180 $101,570,180 1.68 $98,398,293
FNMA 30yr Pool#FA2754 4.500% 01-Jan-2049, 4.50%, 01/01/49 FN 3140W3BY4 - 108,252,354 $101,292,670 $101,292,670 1.67 $99,890,163
GNMA II TBA 30yr 4% December Delivery, 4.00%, 12/17/26 G2SF 21H0406C2 - 103,195,688 $89,650,222 $89,650,222 1.48 $89,650,222
FNMA 30yr Pool#FA5913 5.500% 01-May-2056, 5.50%, 05/01/56 FN 3140W6SB9 - 81,738,717 $80,353,060 $80,353,060 1.33 $79,423,000
FNMA 30yr Pool#FA3025 5.500% 01-Sep-2055, 5.50%, 09/01/55 FN 3140W3LF4 - 81,446,342 $79,737,833 $79,737,833 1.32 $79,027,428
FHLMC 30yr Pool#SL5254 4.500% 01-Sep-2051, 4.50%, 09/01/51 FR 31427SZU5 - 81,415,675 $77,084,047 $77,084,047 1.27 $75,786,089
FNMA 30yr Pool#FA6336 5.500% 01-Jul-2056, 5.50%, 07/01/56 FN 3140W7BE9 - 75,578,720 $74,658,432 $74,658,432 1.23 $73,549,609
FNMA 30yr Pool#FA6705 6.000% 01-Nov-2055, 6.00%, 11/01/55 FN 3140W7NX4 - 71,627,494 $73,057,833 $73,057,833 1.21 $71,040,384
FHLMC 30yr Pool#SL2464 4.500% 01-Dec-2048, 4.50%, 12/01/48 FR 31427PW26 - 76,284,035 $71,155,899 $71,155,899 1.17 $70,391,306
FHLMC 30yr Pool#RJ4363 5.500% 01-Jun-2055, 5.50%, 06/01/55 FR 3142GUZ55 - 69,071,684 $68,176,703 $68,176,703 1.12 $67,375,341
FNMA 30yr Pool#FA3036 5.500% 01-Oct-2055, 5.50%, 10/01/55 FN 3140W3LS6 - 67,637,535 $67,017,207 $67,017,207 1.11 $65,976,414
FNMA 30yr Pool#FA3037 5.500% 01-Oct-2055, 5.50%, 10/01/55 FN 3140W3LT4 - 63,712,451 $62,873,569 $62,873,569 1.04 $62,073,205
FHLMC 30yr Pool#SL3985 5.000% 01-Jan-2056, 5.00%, 01/01/56 FR 31427RNB2 - 64,190,616 $61,244,624 $61,244,624 1.01 $60,434,278
FNMA 30yr Pool#FA5446 6.000% 01-Apr-2056, 6.00%, 04/01/56 FN 3140W6BQ4 - 59,447,640 $59,907,931 $59,907,931 0.99 $59,390,059
FHLMC 30yr Pool#SL4515 5.000% 01-Apr-2056, 5.00%, 04/01/56 FR 31427SAR9 - 62,603,731 $59,834,462 $59,834,462 0.99 $58,919,234
FNMA 30yr Pool#FA0574 5.500% 01-Jan-2055, 5.50%, 01/01/55 FN 3140W0T88 - 59,875,856 $59,318,648 $59,318,648 0.98 $58,443,768
FHLMC 30yr Pool#SL6343 5.500% 01-Jan-2056, 5.50%, 01/01/56 FR 31427UBM4 - 59,525,276 $58,507,765 $58,507,765 0.97 $57,845,886
FHLMC 30yr Pool#SL6510 6.000% 01-Sep-2056, 6.00%, 09/01/56 FR 31427UGU1 - 55,169,831 $56,546,102 $56,546,102 0.93 $55,073,615
FNMA 30yr Pool#FA4990 5.000% 01-Mar-2056, 5.00%, 03/01/56 FN 3140W5RL0 - 56,883,814 $54,515,638 $54,515,638 0.90 $53,859,884
FNMA 30yr Pool#FA4270 5.000% 01-Dec-2055, 5.00%, 12/01/55 FN 3140W4W86 - 56,046,161 $53,886,063 $53,886,063 0.89 $53,224,375
FHLMC 30yr Pool#RJ6942 5.500% 01-Jun-2056, 5.50%, 06/01/56 FR 3142GXWC7 - 54,277,783 $53,219,063 $53,219,063 0.88 $52,664,987
FNMA 30yr Pool#FA5046 5.000% 01-Mar-2056, 5.00%, 03/01/56 FN 3140W5TC8 - 54,538,367 $52,539,345 $52,539,345 0.87 $51,639,121
FHLMC 30yr Pool#SL1188 5.500% 01-Apr-2055, 5.50%, 04/01/55 FR 31427NKA6 - 52,656,918 $52,090,349 $52,090,349 0.86 $51,331,981
FNMA 30yr Pool#FA7047 6.000% 01-Oct-2056, 6.00%, 10/01/56 FN 3140W7ZM5 - 48,757,569 $49,166,172 $49,166,172 0.81 $48,724,162
FHLMC 30yr Pool#SL6196 6.000% 01-Jan-2056, 6.00%, 01/01/56 FR 31427T3E4 - 47,779,258 $48,097,007 $48,097,007 0.79 $47,672,223
FHLMC 30yr Pool#SL6726 6.000% 01-Sep-2056, 6.00%, 09/01/56 FR 31427UPL1 - 47,361,643 $48,049,865 $48,049,865 0.79 $47,289,521
FNMA 30yr Pool#FA6720 6.000% 01-Jun-2056, 6.00%, 06/01/56 FN 3140W7PE4 - 46,435,059 $47,484,014 $47,484,014 0.78 $46,131,033
FNMA 30yr Pool#FA6425 6.000% 01-Jul-2056, 6.00%, 07/01/56 FN 3140W7D72 - 46,670,097 $47,003,327 $47,003,327 0.78 $46,588,705
FHLMC 30yr Pool#SL0239 5.000% 01-Jan-2055, 5.00%, 01/01/55 FR 31427MHR5 - 47,814,892 $45,425,089 $45,425,089 0.75 $45,007,949
FNMA 30yr Pool#FA2246 5.500% 01-Jul-2055, 5.50%, 07/01/55 FN 3140W2P88 - 45,312,419 $44,831,429 $44,831,429 0.74 $44,172,283
FHLMC 30yr Pool#SL6342 4.000% 01-Oct-2050, 4.00%, 10/01/50 FR 31427UBL6 - 48,792,386 $44,534,619 $44,534,619 0.73 $43,964,209
FNMA 30yr Pool#CC2018 5.500% 01-Feb-2056, 5.50%, 02/01/56 FN 3140Y8G42 - 44,484,568 $44,177,208 $44,177,208 0.73 $43,340,033
FNMA 30yr Pool#FA3128 5.500% 01-Oct-2055, 5.50%, 10/01/55 FN 3140W3PN3 - 44,169,396 $43,236,481 $43,236,481 0.71 $42,857,588
FNMA 30yr Pool#FA4155 5.000% 01-Jan-2056, 5.00%, 01/01/56 FN 3140W4TM9 - 43,305,851 $41,841,558 $41,841,558 0.69 $41,085,817
FNMA 30yr Pool#FA6740 5.500% 01-Sep-2054, 5.50%, 09/01/54 FN 3140W7P20 - 42,215,226 $41,409,854 $41,409,854 0.68 $41,024,205
FNMA 30yr Pool#FA4202 5.000% 01-Jan-2056, 5.00%, 01/01/56 FN 3140W4U47 - 42,086,439 $40,317,535 $40,317,535 0.67 $39,849,134
FHLMC 30yr Pool#SD7343 5.500% 01-Jan-2055, 5.50%, 01/01/55 FR 3132DVEQ4 - 40,590,887 $40,200,663 $40,200,663 0.66 $39,543,313
FNMA 30yr Pool#FA6796 5.500% 01-Jul-2056, 5.50%, 07/01/56 FN 3140W7RS1 - 39,429,130 $38,773,735 $38,773,735 0.64 $38,372,294
FNMA 30yr Pool#FS9779 5.500% 01-Nov-2054, 5.50%, 11/01/54 FN 3140XR2M6 - 38,106,141 $37,756,391 $37,756,391 0.62 $37,146,552
FNMA 40yr Pool#BF0646 2.500% 01-Jun-2062, 2.50%, 06/01/62 FN 3140FXWG3 - 44,738,105 $35,482,641 $35,482,641 0.59 $35,032,159
FHLMC 30yr Pool#SL6006 6.000% 01-Jul-2056, 6.00%, 07/01/56 FR 31427TU87 - 33,481,267 $33,756,084 $33,756,084 0.56 $33,450,345
New Residential Mortgage LLC 6.545% 25-MAR-2032, 6.54%, 03/25/32 NZES 2025-FHT 64832EAA7 - 33,071,053 $33,260,306 $33,260,306 0.55 $33,134,043
ACACIA 2026-1 LLC AB 0% 41, 5.44%, 07/15/41 ACACIA 2026-1 00402VAA3 - 32,861,607 $32,797,075 $32,797,075 0.54 $32,643,136
GNMA II 30yr Pool#MA7706 3.000% 20-Nov-2051, 3.00%, 11/20/51 G2 36179WR34 - 38,164,184 $32,588,936 $32,588,936 0.54 $32,170,661
FNMA 30yr Pool#FA5891 6.000% 01-Jun-2056, 6.00%, 06/01/56 FN 3140W6RM6 - 32,034,645 $32,372,659 $32,372,659 0.53 $32,005,058
FHLMC 30yr Pool#SL4452 5.000% 01-Mar-2056, 5.00%, 03/01/56 FR 31427R5N6 - 33,731,465 $32,266,429 $32,266,429 0.53 $32,002,252
FNMA 40yr Pool#BF0598 2.500% 01-Mar-2062, 2.50%, 03/01/62 FN 3140FXUY6 - 40,494,003 $32,213,442 $32,213,442 0.53 $31,723,932
FNMA 30yr Pool#CC2016 5.500% 01-Feb-2056, 5.50%, 02/01/56 FN 3140Y8G26 - 32,578,596 $32,193,491 $32,193,491 0.53 $31,778,493
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA3 M2 8.23787% 25-APR-2042, 8.24%, 04/25/42 STACR 2022-DNA3 35564KVE6 - 31,584,178 $32,181,297 $32,181,297 0.53 $32,029,522
Rithm Capital Corp. 8.5% 01-JUN-2031, 8.50%, 06/01/31 RITM 64828TAD4 - 29,718,000 $30,610,402 $30,610,402 0.50 $29,333,354
FNMA 30yr Pool#FA0576 5.500% 01-Jan-2055, 5.50%, 01/01/55 FN 3140W0UA1 - 30,890,061 $30,539,495 $30,539,495 0.50 $30,116,836
FHLMC 30yr Pool#SL6340 6.000% 01-Jun-2056, 6.00%, 06/01/56 FR 31427UBJ1 - 29,512,029 $29,887,095 $29,887,095 0.49 $29,318,803
FNMA 30yr Pool#FA3191 5.500% 01-Oct-2055, 5.50%, 10/01/55 FN 3140W3RM3 - 29,620,222 $29,351,934 $29,351,934 0.48 $28,858,129
FNMA 30yr Pool#FA4849 5.000% 01-Feb-2056, 5.00%, 02/01/56 FN 3140W5L77 - 30,020,990 $28,960,852 $28,960,852 0.48 $28,481,992
FNMA 30yr Pool#FA3682 5.500% 01-Feb-2055, 5.50%, 02/01/55 FN 3140W4CU9 - 28,411,094 $28,546,649 $28,546,649 0.47 $27,731,568
FNMA 30yr Pool#FA1560 5.500% 01-Apr-2055, 5.50%, 04/01/55 FN 3140W1WW9 - 27,393,954 $26,978,613 $26,978,613 0.45 $26,738,755
FHLMC 30yr Pool#SL0238 5.000% 01-May-2054, 5.00%, 05/01/54 FR 31427MHQ7 - 27,689,181 $26,434,014 $26,434,014 0.44 $26,063,705
FNMA 40yr Pool#BF0698 3.500% 01-Dec-2062, 3.50%, 12/01/62 FN 3140FXX49 - 30,109,063 $26,066,659 $26,066,659 0.43 $25,612,336
FHLMC 30yr Pool#RJ7885 6.500% 01-Nov-2056, 6.50%, 11/01/56 FR 3142GYXP5 - 24,934,625 $25,703,647 $25,703,647 0.42 $25,481,732
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA2 B2 12.38787% 25-FEB-2042, 12.39%, 02/25/42 STACR 2022-DNA2 35564KSQ3 - 23,346,843 $23,955,851 $23,955,851 0.40 $23,787,141
FHLMC 30yr Pool#SL4437 6.000% 01-Sep-2054, 6.00%, 09/01/54 FR 31427R4X5 - 22,713,346 $23,237,512 $23,237,512 0.38 $22,642,836
FHLMC 30yr Pool#SD3271 5.500% 01-Jun-2053, 5.50%, 06/01/53 FR 3132DQT48 - 22,403,341 $21,980,728 $21,980,728 0.36 $21,785,143
Connecticut Avenue Securities Trust 2023-R06 1B1 7.78787% 25-JUL-2043, 7.79%, 07/25/43 CAS 2023-R06 20754EAF2 - 20,105,535 $20,950,830 $20,950,830 0.35 $20,859,493
FHLMC 30yr Pool#SD3669 5.500% 01-Sep-2053, 5.50%, 09/01/53 FR 3132E0CE0 - 20,756,997 $20,685,029 $20,685,029 0.34 $20,171,379
FNMA 30yr Pool#CC1844 5.500% 01-Jan-2056, 5.50%, 01/01/56 FN 3140Y8BN5 - 20,878,970 $20,614,422 $20,614,422 0.34 $20,366,201
FNMA 30yr Pool#FA4386 5.500% 01-Jan-2056, 5.50%, 01/01/56 FN 3140W42U0 - 20,614,333 $20,277,562 $20,277,562 0.33 $20,108,062
Connecticut Avenue Securities, Series 2020-SBT1 1B1 10.75235% 25-FEB-2040, 10.75%, 02/25/40 CAS 2020-SBT1 20753VBT4 - 19,687,000 $20,227,435 $20,227,435 0.33 $20,103,954
Figure Technology Solutions, Inc. 8.5% 31-JUL-2031, 8.50%, 07/31/31 FIGR 349381AA1 - 19,574,000 $19,894,205 $19,894,205 0.33 $19,325,743
FHLMC 30yr Pool#TB3130 5.500% 01-May-2056, 5.50%, 05/01/56 FR 3142K4PQ3 - 20,164,870 $19,789,705 $19,789,705 0.33 $19,557,833
RCKT Mortgage Trust 2026-CES2 A3 5.255% 25-FEB-2056, 5.25%, 02/25/56 RCKT 2026-CES2 74940EAD9 - 20,600,000 $19,754,435 $19,754,435 0.33 $19,619,119
Structured Agency Credit Risk (STACR) Debt Notes, Series 2022-HQA1 M2 9.13787% 25-MAR-2042, 9.14%, 03/25/42 STACR 2022-HQA1 35564KTJ8 - 19,107,747 $19,498,832 $19,498,832 0.32 $19,396,980
FHLMC 30yr Pool#TB5153 5.500% 01-Jun-2056, 5.50%, 06/01/56 FR 3142K6WP2 - 19,863,774 $19,439,674 $19,439,674 0.32 $19,265,802
PRET 2025-RPL3 Trust A1 4.15% 25-APR-2065, 4.15%, 04/25/65 PRET 2025-RPL3 69382RAA1 - 20,671,743 $19,415,523 $19,415,523 0.32 $19,308,288
FHLMC 30yr Pool#SD5061 5.500% 01-Mar-2054, 5.50%, 03/01/54 FR 3132DSTS1 - 18,689,641 $18,605,688 $18,605,688 0.31 $18,254,005
Finance of America Structured Securities Trust, 2025-S1 A1 3.5% 25-FEB-2075, 3.50%, 02/25/75 FASST 2025-S1 31741BAB0 - 18,915,274 $18,365,397 $18,365,397 0.30 $18,326,778
FNMA 30yr Pool#FA5284 5.500% 01-Apr-2056, 5.50%, 04/01/56 FN 3140W52S2 - 18,751,174 $18,363,774 $18,363,774 0.30 $18,188,242
FINANCE OF AMERICA STRUC 3.28125% 74, 3.50%, 04/25/74 FASST 2024-S3 31739WAB8 - 18,351,725 $18,164,913 $18,164,913 0.30 $18,127,445
FNMA 30yr Pool#CB7112 5.500% 01-Sep-2053, 5.50%, 09/01/53 FN 3140QS3W9 - 18,429,636 $18,121,866 $18,121,866 0.30 $17,909,679
FNMA 40yr Pool#BF0226 3.500% 01-Jan-2058, 3.50%, 01/01/58 FN 3140FXHC9 - 20,193,114 $17,607,512 $17,607,512 0.29 $17,379,995
FNMA 40yr Pool#BF0807 3.500% 01-Apr-2064, 3.50%, 04/01/64 FN 3140FX3R1 - 20,194,066 $17,449,626 $17,449,626 0.29 $17,174,014
RFT 2026-RR1 TRUST MB 6.55%30, 6.63%, 07/27/30 RFT 2026-RR1 76201CAA8 - 17,222,413 $17,175,465 $17,175,465 0.28 $17,115,192
SALUDA GRADE ALTERNATIVE M 5.749% 31, 5.75%, 03/25/31 GRADE 2026-RTL7 79584UAA9 - 17,370,000 $17,095,194 $17,095,194 0.28 $16,970,368
FNMA 40yr Pool#BF0713 4.000% 01-Mar-2063, 4.00%, 03/01/63 FN 3140FXYK2 - 18,766,010 $16,837,016 $16,837,016 0.28 $16,724,237
FNMA 30yr Pool#FA1549 5.500% 01-May-2055, 5.50%, 05/01/55 FN 3140W1WK5 - 16,682,820 $16,398,782 $16,398,782 0.27 $16,253,591
Saluda Grade Alternative Mortgage Trust 2026-Loc7, 5.53%, 07/25/66 GRADE 2026-LOC7 79582XAA5 - 15,900,000 $15,963,564 $15,963,564 0.26 $15,931,814
SALUDA GR ALT MTG TR 2025-LOC5 A1B, 5.74%, 10/25/55 GRADE 2025-LOC5 79581XAC2 - 15,693,000 $15,833,415 $15,833,415 0.26 $15,778,381
Vontive Mortgage Trust 2025-RTL1 A1 6.507% 25-MAR-2030, 6.51%, 03/25/30 VNTV 2025-RTL1 928884AA3 - 15,444,000 $15,525,678 $15,525,678 0.26 $15,467,056
Vontive Sedona Mortgage Trust 2026-RTL1|6.208|10/25/2041, 6.21%, 10/25/41 VNTV 2026-RTL1 92888JAA0 - 15,500,000 $15,476,565 $15,476,565 0.26 $15,449,836
Connecticut Avenue Securities Trust 2022-R02 2B2 11.53787% 25-JAN-2042, 11.54%, 01/25/42 CAS 2022-R02 20754BAJ0 - 15,154,500 $15,430,245 $15,430,245 0.25 $15,328,249
Connecticut Avenue Securities, Series 2021-R03 1B1 6.63787% 25-DEC-2041, 6.64%, 12/25/41 CAS 2021-R03 20754AAF0 - 15,002,000 $15,087,988 $15,087,988 0.25 $15,029,899
Connecticut Avenue Securities Trust 2022-R06 1B2 14.48787% 25-MAY-2042, 14.49%, 05/25/42 CAS 2022-R06 20754NAR6 - 13,936,475 $14,700,850 $14,700,850 0.24 $14,583,069
Connecticut Avenue Securities Trust 2022-R07 1B2 15.88787% 25-JUN-2042, 15.89%, 06/25/42 CAS 2022-R07 20754MAL1 - 13,629,201 $14,603,695 $14,603,695 0.24 $14,477,381
Structured Agency Credit Risk (STACR) Debt Notes, Series 2023-HQA2 M1B 7.23787% 25-JUN-2043, 7.24%, 06/25/43 STACR 2023-HQA2 35564K2G3 - 14,132,000 $14,594,136 $14,594,136 0.24 $14,534,469
FNMA 30yr Pool#FA1358 4.500% 01-May-2050, 4.50%, 05/01/50 FN 3140W1QL0 - 15,006,315 $14,258,249 $14,258,249 0.24 $13,924,336
RCKT MOR 2025-CES9 FLT 2055 A1B, 5.00%, 09/25/55 RCKT 2025-CES9 74942JAB0 - 14,481,292 $14,250,040 $14,250,040 0.24 $14,159,586
Connecticut Avenue Securities Trust 2022-R01 1B2 9.88787% 25-DEC-2041, 9.89%, 12/25/41 CAS 2022-R01 20754LAJ8 - 14,077,163 $14,229,295 $14,229,295 0.23 $14,148,099
FNMA 40yr Pool#BF0806 3.500% 01-Apr-2064, 3.50%, 04/01/64 FN 3140FX3Q3 - 16,256,113 $14,047,651 $14,047,651 0.23 $13,873,338
BMP Commercial Mortgage Trust 2024-MF23 A 5.29659% 15-JUN-2041, 5.30%, 06/15/41 BMP 2024-MF23 05593JAA8 - 14,000,000 $14,038,939 $14,038,939 0.23 $13,973,026
FNMA 40yr Pool#BF0801 2.500% 01-Apr-2064, 2.50%, 04/01/64 FN 3140FX3K6 - 17,770,324 $13,984,547 $13,984,547 0.23 $13,903,050
Galaxy XXVI CLO Ltd., 4.85%, 07/23/27 GLXYT 2025-1 362922AA4 - 13,779,845 $13,780,534 $13,780,534 0.23 $13,780,534
RCKT Mortgage Trust 2026-CES2 A2 5.055% 25-FEB-2056, 5.05%, 02/25/56 RCKT 2026-CES2 74940EAC1 - 14,268,000 $13,677,240 $13,677,240 0.23 $13,587,085
Central Park Funding Trust 2026-1 PT 7.25% 29-JUL-2028, 7.25%, 07/27/28 CPFTR 2026-1 154808AA7 - 13,587,819 $13,520,205 $13,520,205 0.22 $13,468,212
PRET 2025-RPL1 Trust A1 4.0% 25-JUL-2069, 4.00%, 07/25/69 PRET 2025-RPL1 69392FAA5 - 14,029,015 $12,977,307 $12,977,307 0.21 $12,907,162
FINANCE OF AMER STR TR 2024-S2 A1, 3.50%, 04/25/74 FASST 2024-S2 31739VAA2 - 12,889,777 $12,789,454 $12,789,454 0.21 $12,763,137
Saluda Grade Alternative Mortgage Trust 2026-HB1 A1B 5.48861% 25-APR-2056, 5.49%, 04/25/56 GRADE 2026-HB1 795939AC1 - 12,701,307 $12,762,694 $12,762,694 0.21 $12,720,092
FHLMC 30yr Pool#SL3988 5.000% 01-Jan-2056, 5.00%, 01/01/56 FR 31427RNE6 - 13,003,017 $12,599,061 $12,599,061 0.21 $12,336,429
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA1 B2 10.98787% 25-JAN-2042, 10.99%, 01/25/42 STACR 2022-DNA1 35564KQZ5 - 12,356,000 $12,585,451 $12,585,451 0.21 $12,506,254
FHLMC 30yr Pool#SD6178 4.500% 01-Jan-2051, 4.50%, 01/01/51 FR 3132DT2K5 - 13,415,292 $12,556,898 $12,556,898 0.21 $12,448,029
FNMA 30yr Pool#FA3563 5.500% 01-Nov-2055, 5.50%, 11/01/55 FN 3140W35Z8 - 12,567,048 $12,466,687 $12,466,687 0.21 $12,258,412
GS Mortgage-Backed Securities Trust 2025-RPL3 A1 4.1% 25-JUL-2065, 4.10%, 07/25/65 GSMBS 2025-RPL3 362963AA8 - 12,926,395 $12,113,838 $12,113,838 0.20 $12,047,590
FNMA 30yr Pool#CC0097 5.500% 01-Mar-2055, 5.50%, 03/01/55 FN 3140Y6DB3 - 12,154,827 $12,061,626 $12,061,626 0.20 $11,856,315
Chase Mortgage Reference Notes, Series 2020-CL1 M1 6.30309% 25-OCT-2057, 6.30%, 10/25/57 CHASE 2020-CL1 46591HAG5 - 11,655,994 $12,015,618 $12,015,618 0.20 $11,972,762
FHLMC 30yr Pool#SL4658 5.000% 01-Jan-2056, 5.00%, 01/01/56 FR 31427SE87 - 12,650,280 $12,005,195 $12,005,195 0.20 $11,905,757
FHLMC 30yr Pool#SL4976 5.000% 01-Apr-2056, 5.00%, 04/01/56 FR 31427SQ68 - 12,429,923 $11,849,999 $11,849,999 0.20 $11,699,342
Connecticut Avenue Securities, Series 2021-R02 2B2 10.08787% 25-NOV-2041, 10.09%, 11/25/41 CAS 2021-R02 20754KAJ0 - 11,552,000 $11,633,515 $11,633,515 0.19 $11,565,537
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAA3 - 11,495,681 $11,344,665 $11,344,665 0.19 $11,269,225
NRM MSR-Collateralized Notes, Series 2024-FNT1 A 7.398% 25-NOV-2029, 7.40%, 11/25/31 NZES 2024-FNT1 62956YAA7 - 11,088,805 $11,141,428 $11,141,428 0.18 $11,093,574
PRET 2025-RPL5 TRUST FLTG 2070 A1, 4.15%, 01/25/70 PRET 2025-RPL5 69393AAA5 - 12,043,746 $11,050,213 $11,050,213 0.18 $10,987,736
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2023-HQA3 M1 5.73787% 25-NOV-2043, 5.74%, 11/25/43 STACR 2023-HQA3 35564K3G2 - 10,940,518 $11,012,255 $11,012,255 0.18 $10,975,636
FNMA 40yr Pool#BF0731 2.500% 01-Jun-2063, 2.50%, 06/01/63 FN 3140FXY55 - 13,306,974 $10,581,591 $10,581,591 0.17 $10,420,022
Connecticut Avenue Securities Trust 2022-R04 1B2 13.38787% 25-MAR-2042, 13.39%, 03/25/42 CAS 2022-R04 20753YAL6 - 10,118,401 $10,478,878 $10,478,878 0.17 $10,399,858
METRONET INFRASTRUCTURE ISSU 5.4% 55, 5.40%, 08/20/55 MNET 2025-2A 59170JAX6 - 10,600,000 $10,360,471 $10,360,471 0.17 $10,319,131
Foundation Finance Trust 2025-2 B 4.94% 15-APR-2052, 4.94%, 04/15/52 FFIN 2025-2A 35042NAB1 - 10,501,765 $10,282,556 $10,282,556 0.17 $10,237,883
Saluda Grade Alternative Mortgage Trust 2024-RTL6 A1 7.439% 25-JUL-2030, 7.44%, 07/25/30 GRADE 2024-RTL6 79585UAA8 - 9,762,920 $9,821,092 $9,821,092 0.16 $9,730,310
FNMA 40yr Pool#BF0783 3.500% 01-Dec-2063, 3.50%, 12/01/63 FN 3140FX2R2 - 10,611,438 $9,636,856 $9,636,856 0.16 $9,024,482
LHOME Mortgage Trust 2024-RTL5 A2 5.751% 25-SEP-2039, 5.75%, 09/25/39 LHOME 2024-RTL5 50205WAB3 - 9,325,000 $9,355,909 $9,355,909 0.15 $9,324,626
SALUDA GRADE ALTERNATIVE MORT A2, 6.75%, 03/25/31 GRADE 2026-RTL7 79584UAB7 - 9,418,000 $9,235,247 $9,235,247 0.15 $9,155,807
Structured Agency Credit Risk (STACR) Debt Notes, Series 2022-HQA1 B2 14.88787% 25-MAR-2042, 14.89%, 03/25/42 STACR 2022-HQA1 35564KUL1 - 8,848,740 $9,218,181 $9,218,181 0.15 $9,141,334
RCKT MORTGAGE TRUST 2026-CES4 0% 56, 5.59%, 04/25/56 RCKT 2026-CES4 74940CAD3 - 9,483,000 $9,173,658 $9,173,658 0.15 $9,107,360
RCKT Mortgage Trust 2026-CES9 A2 6.229% 25-SEP-2056, 6.23%, 09/25/56 RCKT 2026-CES9 74940BAC7 - 9,254,000 $9,130,253 $9,130,253 0.15 $9,058,199
TOWD PT MTG TR 2025-FIX2 FLTG A1, 5.25%, 10/25/65 TPMT 2025-FIX2 89183RAA0 - 9,190,980 $9,096,515 $9,096,515 0.15 $9,036,210
Homeward Opportunities Fund Trust 2025-RRTL1 A1 5.476% 25-MAR-2040, 5.48%, 03/25/40 HOF 2025-RRTL1 437919AA1 - 9,063,648 $9,091,493 $9,091,493 0.15 $9,062,541
FIGRE TRUST 2025-HE4 FLTG 2055 C, 5.71%, 07/25/55 FIGRE 2025-HE4 31684PAC6 - 9,171,017 $9,057,520 $9,057,520 0.15 $8,992,073
FNMA 30yr Pool#FA4709 5.500% 01-Jul-2055, 5.50%, 07/01/55 FN 3140W5GT5 - 9,086,611 $8,985,286 $8,985,286 0.15 $8,874,812
New Residential Mortgag MB 4.00%65, 4.00%, 12/25/65 NRZT 2026-RPL1 64832TAP1 - 9,673,000 $8,970,361 $8,970,361 0.15 $8,921,996
FNMA 30yr Pool#FS6236 6.500% 01-Nov-2053, 6.50%, 11/01/53 FN 3140XM4W3 - 8,645,583 $8,923,981 $8,923,981 0.15 $8,760,029
BAYVIEW OPPORTUNITY MAS MB FLTG 56, 5.80%, 07/25/56 BVCES 2026-1 07337MAC4 - 9,107,000 $8,911,219 $8,911,219 0.15 $8,845,239
Huntington Bank Auto Credit-Linked Notes, Series 2024-2 B1 5.442% 20-OCT-2032, 5.44%, 10/20/32 HACLN 2024-2 44644NAG4 - 8,407,108 $8,413,782 $8,413,782 0.14 $8,380,740
GNMA II TBA 30yr 3% December Delivery, 3.00%, 12/17/26 G2SF 21H0306C3 - 9,658,722 $8,115,799 $8,115,799 0.13 $8,115,799
RCKT Mortgage Trust 2026-CES9 M1 6.627% 25-SEP-2056, 6.63%, 09/25/56 RCKT 2026-CES9 74940BAE3 - 8,095,000 $7,987,053 $7,987,053 0.13 $7,919,996
Freddie Mac Multiclass Certificates, Series 5164 FA 4.0% 25-NOV-2051, 4.00%, 11/25/51 FHR 5164 3137H3PY2 - 9,026,357 $7,969,863 $7,969,863 0.13 $7,948,802
FNMA 30yr Pool#FS7117 6.500% 01-Feb-2054, 6.50%, 02/01/54 FN 3140XN4B7 - 7,447,071 $7,859,571 $7,859,571 0.13 $7,545,651
FNMA 30yr Pool#DH1175 5.500% 01-May-2056, 5.50%, 05/01/56 FN 3140UGJV5 - 7,793,518 $7,594,049 $7,594,049 0.13 $7,530,955
REDWOOD FUNDING TRUST 2 AB 6.26%56, 6.26%, 11/27/56 RFT 2026-2 75805CAA0 - 7,500,698 $7,459,086 $7,459,086 0.12 $7,434,309
SALUDA GR ALT MTG TR 25 RRTL1 A1, 5.32%, 10/25/40 GRADE 2025-RRTL1 79582NAA7 - 7,388,000 $7,358,877 $7,358,877 0.12 $7,309,747
FHLMC 30yr Pool#SD7417 5.500% 01-Jan-2055, 5.50%, 01/01/55 FR 3132DVG25 - 7,232,145 $7,309,677 $7,309,677 0.12 $7,059,170
RENEU 2026-RTL1 MB 5.93%41, 5.89%, 06/25/41 RENEU 2026-RTL1 759964AA7 - 7,339,000 $7,297,891 $7,297,891 0.12 $7,272,667
Brean Asset Backed Securities Trust 2024-RM8 A1 4.5% 25-MAY-2064, 4.50%, 05/25/64 BABS 2024-RM8 10637YAA3 - 7,323,429 $7,116,038 $7,116,038 0.12 $7,096,814
Ally Bank Auto Credit-Linked Notes, Series 2025-A C 4.844% 15-JUN-2033, 4.84%, 06/15/33 ABCLN 2025-A 02007G5F6 - 7,160,609 $7,113,406 $7,113,406 0.12 $7,083,537
RCKT Mortgage Trust 2026-CES2 A1B 4.863% 25-FEB-2056, 4.86%, 02/01/56 RCKT 2026-CES2 74940EAB3 - 7,265,492 $7,074,948 $7,074,948 0.12 $7,030,783
Fannie Mae REMIC Trust 2022-65 FB 4.68787% 25-SEP-2052, 4.69%, 09/25/52 FNR 2022-65 3136BPCQ2 - 7,209,986 $7,037,565 $7,037,565 0.12 $7,017,849
FIGRE TRUST 2025 HE4 FLTG 2055 B, 5.61%, 07/25/55 FIGRE 2025-HE4 31684PAB8 - 7,100,308 $7,009,480 $7,009,480 0.12 $6,959,707
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA7 B2 11.68787% 25-NOV-2041, 11.69%, 11/25/41 STACR 2021-DNA7 35564KNE5 - 6,910,000 $6,989,319 $6,989,319 0.12 $6,942,207
LHOME Mortgage Trust 2024-RTL4 A2 6.092% 25-JUL-2039, 6.09%, 07/25/39 LHOME 2024-RTL4 50205PAB8 - 6,870,000 $6,896,087 $6,896,087 0.11 $6,871,674
PRPM 2025-RPL4 A1, 3.00%, 05/25/55 PRPM 2025-RPL4 74448NAA2 - 7,644,818 $6,851,385 $6,851,385 0.11 $6,822,717
GS Mortgage-Backed Securities Trust 2026-CES1 A2 5.272% 25-MAY-2056, 5.27%, 05/25/56 GSMBS 2026-CES1 36277LAB9 - 7,000,000 $6,762,215 $6,762,215 0.11 $6,716,085
Connecticut Avenue Securities Trust 2023-R03 2B1 10.23787% 25-APR-2043, 10.24%, 04/25/43 CAS 2023-R03 20753ACF9 - 6,026,000 $6,535,847 $6,535,847 0.11 $6,499,859
COOPR Residential Mortgage Trust 2026-CES1 A1B 4.996% 25-FEB-2061, 5.00%, 01/01/61 COOPR 2026-CES1 21689GAB4 - 6,657,730 $6,498,346 $6,498,346 0.11 $6,456,768
Connecticut Avenue Securities Trust 2022-R05 2B2 10.88787% 25-APR-2042, 10.89%, 04/25/42 CAS 2022-R05 20754DAJ6 - 6,153,812 $6,337,817 $6,337,817 0.10 $6,298,733
RCKT Mortgage Trust 202 MB FLTG 56, 5.85%, 08/25/56 RCKT 2026-CES8 74941AAE4 - 6,550,000 $6,327,322 $6,327,322 0.10 $6,279,450
PRPM 2025-6 LLC, 5.77%, 08/25/28 PRPM 2025-6 69395KAA1 - 6,401,524 $6,326,637 $6,326,637 0.10 $6,280,434
RCKT MORTGAGE TRUST 2026-CES4 0% 56, 5.39%, 04/25/56 RCKT 2026-CES4 74940CAC5 - 6,516,000 $6,291,626 $6,291,626 0.10 $6,247,692
COOPR Residential Mortgage Trust 2025-CES3 A1A 4.84% 25-SEP-2060, 4.84%, 09/25/60 COOPR 2025-CES3 216926AA3 - 6,421,971 $6,267,328 $6,267,328 0.10 $6,228,475
Connecticut Avenue Securities Trust 2023-R04 1B2 12.13787% 25-MAY-2043, 12.14%, 05/25/43 CAS 2023-R04 20754QAJ7 - 5,500,000 $6,072,396 $6,072,396 0.10 $6,033,454
Alterna Funding III A 6.26% 15-MAY-2039, 6.26%, 05/16/39 TAX 2024-1A 02157JAA3 - 5,973,857 $6,016,162 $6,016,162 0.10 $5,983,959
FNMA 30yr Pool#FA0339 5.500% 01-Jan-2055, 5.50%, 01/01/55 FN 3140W0LV5 - 6,050,240 $6,004,155 $6,004,155 0.10 $5,905,533
RCKT Mortgage Trust 2026-CES1 A1B 4.928% 25-JAN-2056, 4.93%, 01/25/56 RCKT 2026-CES1 74939BAB2 - 6,067,566 $5,915,230 $5,915,230 0.10 $5,877,854
RCKT Mortgage Trust 2025-CES7 A1B 5.478% 25-JUL-2055, 5.48%, 07/25/55 RCKT 2025-CES7 74943AAB8 - 5,850,277 $5,807,406 $5,807,406 0.10 $5,767,346
FIGRE TRUST 2025-HE6 FLTG 2055 C, 5.25%, 09/25/55 FIGRE 2025-HE6 31684NAC1 - 5,890,092 $5,765,628 $5,765,628 0.10 $5,727,011
TVC Mortgage Trust 2025-RRTL1 A2 6.68% 25-APR-2040, 6.68%, 04/25/40 TVC 2025-RRTL1 900927AB0 - 5,597,000 $5,619,358 $5,619,358 0.09 $5,597,548
ACHM Trust 2024-HE1 A 6.55% 25-MAY-2039, 6.55%, 05/25/39 ACHM 2024-HE1 00449TAA3 - 5,550,702 $5,611,733 $5,611,733 0.09 $5,590,525
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA2 M2 7.63787% 25-FEB-2042, 7.64%, 02/25/42 STACR 2022-DNA2 35564KRN1 - 5,521,417 $5,585,913 $5,585,913 0.09 $5,561,313
HOMES 2026-INV1 Trust A1D 5.077% 25-AUG-2060, 5.08%, 08/25/60 HOMES 2026-INV1 43761FAD7 - 5,720,890 $5,582,630 $5,582,630 0.09 $5,519,192
FIGRE TRUST 2026-HE4 MB FLTG 56, 5.70%, 05/25/56 FIGRE 2026-HE4 31685MAE8 - 5,724,644 $5,579,263 $5,579,263 0.09 $5,538,453
BAYVIEW OPPORTUNITY MAS MB FLTG 56, 6.09%, 07/25/56 BVCES 2026-1 07337MAE0 - 5,721,000 $5,556,087 $5,556,087 0.09 $5,512,500
PRET 2025-RPL2 Trust A1 4.0% 25-FEB-2065, 4.00%, 08/25/64 PRET 2025-RPL2 69392LAA2 - 5,916,694 $5,543,761 $5,543,761 0.09 $5,514,178
RCKT Mortgage Trust 202 MB FLTG 56, 5.67%, 06/25/56 RCKT 2026-CES6 74942DAC1 - 5,700,000 $5,540,344 $5,540,344 0.09 $5,499,945
Brean Asset Backed Securities Trust 2024-RM9 A1 5.0% 25-SEP-2064, 5.00%, 09/25/64 BABS 2024-RM9 10638DAA8 - 5,546,323 $5,428,519 $5,428,519 0.09 $5,412,342
SF ABS ISSUER 2025-1 0%55 A2, 5.38%, 11/25/55 SFARM 2025-1A 784193AA2 - 5,750,000 $5,390,705 $5,390,705 0.09 $5,372,670
Huntington Bank Auto Credit-Linked Notes, Series 2024-1 B1 6.153% 20-MAY-2032, 6.15%, 05/20/32 HACLN 2024-1 44644NAA7 - 5,339,500 $5,371,378 $5,371,378 0.09 $5,347,651
Woodward Capital Manage MB FLTG 56, 5.66%, 05/25/56 RCKT 2026-CES5 74940FAD6 - 5,400,000 $5,220,940 $5,220,940 0.09 $5,182,715
PRPM 2025-RPL3 A1 3.25% 25-APR-2055, 3.25%, 04/25/55 PRPM 2025-RPL3 69392NAA8 - 5,458,784 $5,213,369 $5,213,369 0.09 $5,191,193
RCKT Mortgage Trust 2025-CES12 M1 5.65% 25-DEC-2055, 5.65%, 11/25/55 RCKT 2025-CES12 749349AE6 - 5,400,000 $5,198,686 $5,198,686 0.09 $5,160,549
FIGRE TRUST 2025-HE6 FLTG 2055 B, 5.14%, 09/25/55 FIGRE 2025-HE6 31684NAB3 - 5,191,595 $5,079,633 $5,079,633 0.08 $5,046,251
FNA 9, Series 2026-1 A 5.509% 15-DEC-2038, 5.51%, 04/16/46 FNH 2026-1 34411JAA8 - 5,101,956 $5,073,585 $5,073,585 0.08 $5,049,382
CoreWeave, Inc. 9.625% 15-JUL-2032, 9.62%, 07/15/32 CRWV 21873SAK4 - 5,961,000 $5,071,830 $5,071,830 0.08 $4,835,956
FNMA 30yr Pool#CA5386 4.500% 01-Mar-2050, 4.50%, 03/01/50 FN 3140QC6Y7 - 5,281,498 $5,043,157 $5,043,157 0.08 $4,882,406
RCKT Mortgage Trust 2026-CES3 A2 5.363% 25-MAR-2056, 5.36%, 03/25/56 RCKT 2026-CES3 74940LAD3 - 5,161,258 $5,025,498 $5,025,498 0.08 $4,992,239
MS RES MTG LN TR 2025-SPL1 A1, 4.25%, 02/25/65 MSRM 2025-SPL1 617946AA6 - 5,364,271 $5,008,931 $5,008,931 0.08 $4,980,434
RCKT MORTGAGE TRUST 2025 5.24863% 55, 5.25%, 08/25/55 RCKT 2025-CES8 74939WAB6 - 5,044,137 $4,981,046 $4,981,046 0.08 $4,947,952
FIG SIX TRUST 2026-PF1 MB FLTG 56, 6.16%, 08/25/56 FIGX 2026-PF1 316935AC9 - 4,941,582 $4,899,897 $4,899,897 0.08 $4,861,878
EFMT 2026-CES2 MB FLTG 61, 5.81%, 06/25/61 EFMT 2026-CES2 26846UAD8 - 5,000,000 $4,894,142 $4,894,142 0.08 $4,857,855
ARIXA MORTGAGE TRUST 20 MB 6.05%31, 6.05%, 05/25/31 ARIXA 2026-RTL1 04046CAA9 - 4,919,000 $4,860,283 $4,860,283 0.08 $4,842,920
Structured Agency Credit Risk (STACR) Debt Notes, Series 2018-HQA2 B2 15.00235% 25-OCT-2048, 15.00%, 10/25/48 STACR 2018-HQA2 35563XBE1 - 4,082,000 $4,846,057 $4,846,057 0.08 $4,810,334
RCKT Mortgage Trust 2025-CES8 B2A 7.28202% 25-AUG-2055, 7.28%, 08/25/55 RCKT 2025-CES8 74939WAS9 - 5,040,000 $4,809,147 $4,809,147 0.08 $4,732,686
JP Morgan Mortgage Trust 2026-CES1 A3 5.332% 25-JUN-2056, 5.33%, 06/25/56 JPMMT 2026-CES1 46660BAE9 - 5,000,000 $4,797,632 $4,797,632 0.08 $4,764,307
BAYVIEW OPPORTUNITY MAS MB FLTG 56, 6.24%, 05/25/56 BVCES 2026-2 07338CAE1 - 4,900,000 $4,777,585 $4,777,585 0.08 $4,739,383
OBX 2026-HE2 Trust MB FLTG 56, 5.49%, 06/25/56 OBX 2026-HE2 67124WAD1 - 4,746,000 $4,774,937 $4,774,937 0.08 $4,759,020
BAYVIEW OPPORTUNITY MAS MB FLTG 56, 5.99%, 05/25/56 BVCES 2026-2 07338CAD3 - 4,900,000 $4,756,004 $4,756,004 0.08 $4,719,328
PRPM 2025-5 0%30, 5.73%, 07/25/30 PRPM 2025-5 69392RAA9 - 4,777,098 $4,722,405 $4,722,405 0.08 $4,688,195
Connecticut Avenue Securities Trust 2024-R01 1B1 6.58787% 25-JAN-2044, 6.59%, 01/25/44 CAS 2024-R01 20753UAF7 - 4,595,000 $4,711,738 $4,711,738 0.08 $4,694,080
Homeward Opportunities Fund Trust 2025-RRTL2 A1 5.237% 25-AUG-2040, 5.24%, 09/25/40 HOF 2025-RRTL2 437923AA3 - 4,682,000 $4,689,166 $4,689,166 0.08 $4,674,863
FIGRE Trust 2026-HE1 C 5.434% 25-JAN-2056, 5.43%, 01/25/56 FIGRE 2026-HE1 30249NAE7 - 4,860,679 $4,686,169 $4,686,169 0.08 $4,653,153
Research-Driven Pagaya Motor Asset Trust 2026-R1 (RPM 2026-R1) A 5.659% 25-JUL-2034, 5.66%, 07/25/34 RPM 2026-R1A 76089TAA8 - 4,678,571 $4,670,346 $4,670,346 0.08 $4,654,901
Ally Bank Auto Credit-Linked Notes, Series 2025-A D 4.991% 15-JUN-2033, 4.99%, 06/15/33 ABCLN 2025-A 02007G5G4 - 4,651,523 $4,619,064 $4,619,064 0.08 $4,599,073
Connecticut Avenue Securities Trust 2023-R05 1B1 8.63787% 25-JUN-2043, 8.64%, 06/25/43 CAS 2023-R05 207942AC7 - 4,312,000 $4,554,991 $4,554,991 0.08 $4,533,264
Affirm Asset Securitization Trust 2025-X2 C 4.93% 15-OCT-2030, 4.93%, 10/15/30 AFFRM 2025-X2 00835DAC6 - 4,500,000 $4,509,273 $4,509,273 0.07 $4,490,169
Structured Agency Credit Risk (STACR) Debt Notes, Series 2018-DNA3 B2 11.75235% 25-SEP-2048, 11.75%, 09/25/48 STACR 2018-DNA3 35563WBE3 - 4,000,000 $4,467,177 $4,467,177 0.07 $4,439,755
Structured Agency Credit Risk (STACR) Debt Notes, Series 2020-DNA1 B2 9.25235% 25-JAN-2050, 9.25%, 01/25/50 STACR 2020-DNA1 35565HBE4 - 3,965,595 $4,411,643 $4,411,643 0.07 $4,390,239
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2023-DNA1 M2 9.38787% 25-MAR-2043, 9.19%, 03/25/43 STACR 2023-DNA1 35564KP94 - 4,015,000 $4,239,784 $4,239,784 0.07 $4,218,259
Connecticut Avenue Securities Trust 2023-R08 1B1 7.43787% 25-OCT-2043, 7.44%, 10/25/43 CAS 2023-R08 20755CAF5 - 4,050,000 $4,237,458 $4,237,458 0.07 $4,219,886
EFMT 2026-CES2 MB FLTG 61, 5.91%, 06/25/61 EFMT 2026-CES2 26846UAE6 - 4,329,000 $4,224,620 $4,224,620 0.07 $4,192,661
FNMA 30yr Pool#DA5019 6.500% 01-Nov-2053, 6.50%, 11/01/53 FN 3140A5SH2 - 4,049,327 $4,143,908 $4,143,908 0.07 $4,106,870
Woodward Capital Manage MB FLTG 56, 6.06%, 05/25/56 RCKT 2026-CES5 74940FAF1 - 4,250,000 $4,125,281 $4,125,281 0.07 $4,093,077
SWVP Trust 2026-PNCL C 6.02465% 15-OCT-2039, 6.02%, 10/15/39 SWVP 2026-PNCL 78504YAE2 - 4,090,000 $4,113,327 $4,113,327 0.07 $4,091,424
EFMT 2026-CES1 A3 5.466% 25-DEC-2060, 5.47%, 12/25/60 EFMT 2026-CES1 26846MAE4 - 4,250,000 $4,109,142 $4,109,142 0.07 $4,080,104
EASY STREET MORTGAGE LN 5.606%40 A1, 5.61%, 10/25/40 EASY 2025-RTL2 27786YAA6 - 4,100,000 $4,067,336 $4,067,336 0.07 $4,053,929
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-HQA4 B2 10.88787% 25-DEC-2041, 10.89%, 12/25/41 STACR 2021-HQA4 35564KPP8 - 4,000,000 $4,050,202 $4,050,202 0.07 $4,024,797
FNMA 30yr Pool#BY0337 6.500% 01-May-2053, 6.50%, 05/01/53 FN 3140NGLT5 - 3,911,488 $4,013,087 $4,013,087 0.07 $3,965,937
Vista Point Securitization Trust 2026-CES1 A3 5.376% 25-FEB-2056, 5.38%, 02/25/56 VSTA 2026-CES1 92790EAC4 - 4,169,000 $3,998,011 $3,998,011 0.07 $3,984,937
PRPM 2025 RCF4 LLC 4.5% 55, 4.50%, 08/25/55 PRPM 2025-RCF4 69382WAA0 - 4,078,830 $3,956,443 $3,956,443 0.07 $3,933,500
RAM 2026-1 A 5.463% 15-JUN-2046, 5.46%, 06/15/46 RAM 2026-1 74890FAA2 - 3,934,456 $3,914,060 $3,914,060 0.06 $3,895,551
OBX 2022-NQM7 Trust MB FLTG 66, 5.59%, 04/25/56 OBX 2026-CES1 67124LAD5 - 4,000,000 $3,888,354 $3,888,354 0.06 $3,860,424
Huntington Bank Auto Credit-Linked Notes, Series 2025-1 B 4.957% 20-MAR-2033, 4.96%, 03/21/33 HACLN 2025-1 446438SX2 - 3,907,355 $3,881,088 $3,881,088 0.06 $3,867,100
GS Mortgage-Backed Securities Trust 2026-CES1 A3 5.422% 25-MAY-2056, 5.42%, 05/25/56 GSMBS 2026-CES1 36277LAC7 - 4,000,000 $3,859,896 $3,859,896 0.06 $3,832,786
JP Morgan Mortgage Trust 2026-CES1 A2 5.182% 25-JUN-2056, 5.18%, 06/25/56 JPMMT 2026-CES1 46660BAD1 - 4,000,000 $3,849,770 $3,849,770 0.06 $3,823,860
Connecticut Avenue Securities Trust 2023-R01 1B1 8.98787% 25-DEC-2042, 8.99%, 12/25/42 CAS 2023-R01 207932AF1 - 3,630,000 $3,797,313 $3,797,313 0.06 $3,778,282
FNMA 30yr Pool#FA3788 5.500% 01-Nov-2055, 5.50%, 11/01/55 FN 3140W4F69 - 3,818,787 $3,759,165 $3,759,165 0.06 $3,725,001
EFMT 2026-CES1 A2 5.316% 25-DEC-2060, 5.32%, 12/25/60 EFMT 2026-CES1 26846MAD6 - 3,881,000 $3,756,795 $3,756,795 0.06 $3,731,006
GS Mortgage Securities MB FLTG 56, 5.74%, 11/25/56 GSMBS 2026-AH2 362984AD8 - 3,735,000 $3,715,084 $3,715,084 0.06 $3,701,988
OBX 2026-HE2 Trust MB FLTG 56, 5.69%, 06/25/56 OBX 2026-HE2 67124WAE9 - 3,678,000 $3,675,655 $3,675,655 0.06 $3,662,871
Acacia 2025-1 A 5.24% 15-NOV-2037, 5.24%, 11/15/37 ACACIA 2025-1 00401PAA7 - 3,609,054 $3,623,201 $3,623,201 0.06 $3,606,916
Fannie Mae REMIC Trust 2020-98 AI 3.5% 25-JAN-2061, 3.50%, 01/25/61 FNR 2020-98 3136BDLE6 - 17,368,088 $3,579,001 $3,579,001 0.06 $3,502,739
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA2 B1 8.63787% 25-FEB-2042, 8.64%, 02/25/42 STACR 2022-DNA2 35564KSJ9 - 3,500,000 $3,553,595 $3,553,595 0.06 $3,535,960
FIGRE TRUST 2025-FL1 5.265% 55, 5.26%, 07/25/55 FIGRE 2025-FL1 31684QAA8 - 3,406,318 $3,351,194 $3,351,194 0.06 $3,328,776
GS Mortgage Securities MB FLTG 56, 5.59%, 11/25/56 GSMBS 2026-AH2 362984AC0 - 3,324,000 $3,343,243 $3,343,243 0.06 $3,331,892
FIGRE Trust 2025-HE3 B 5.71% 25-MAY-2055, 5.71%, 05/25/55 FIGRE 2025-HE3 31684LAB7 - 3,380,488 $3,343,185 $3,343,185 0.06 $3,319,057
FIGRE Trust 2026-HE1 B 5.183% 25-JAN-2056, 5.18%, 01/25/56 FIGRE 2026-HE1 30249NAD9 - 3,447,042 $3,326,229 $3,326,229 0.05 $3,303,896
Structured Agency Credit Risk (STACR) Debt Notes, Series 2023-HQA2 M2 7.73787% 25-JUN-2043, 7.74%, 06/25/43 STACR 2023-HQA2 35564K2K4 - 3,130,000 $3,263,543 $3,263,543 0.05 $3,249,415
Ginnie Mae REMIC Trust 2023-116 LF 4.94783% 20-AUG-2053, 5.17%, 08/20/53 GNR 2023-116 38384EFT7 - 3,257,098 $3,253,108 $3,253,108 0.05 $3,240,935
FNMA 30yr Pool#DA5072 6.500% 01-Nov-2053, 6.50%, 11/01/53 FN 3140A5T65 - 3,134,630 $3,202,772 $3,202,772 0.05 $3,170,856
FIGRE Trust 2025-HE3 C 5.91% 25-MAY-2055, 5.91%, 05/25/55 FIGRE 2025-HE3 31684LAC5 - 3,177,659 $3,149,284 $3,149,284 0.05 $3,125,809
FINANCE OF AMERICA STRUCTURE 3.5% 74, 3.50%, 02/25/74 FASST 2024-S1 31740RAB6 - 3,154,315 $3,143,131 $3,143,131 0.05 $3,136,691
Diamond Infrastructure Funding, Series 2021-1 A_2021_1 1.76% 15-APR-2049, 1.76%, 04/15/49 DNFRA 2021-1A 25265LAA8 - 3,100,000 $3,093,622 $3,093,622 0.05 $3,089,682
EFMT 2025-RTL1 0% 40, 5.22%, 11/25/40 EFMT 2025-RTL1 26846FAA7 - 3,108,000 $3,069,243 $3,069,243 0.05 $3,059,778
FNMA 30yr Pool#BX6124 6.500% 01-Jan-2053, 6.50%, 01/01/53 FN 3140NAYW7 - 2,897,265 $2,974,882 $2,974,882 0.05 $2,947,902
GWT Commercial Mortgage Trust 2024-WLF2 A 5.61589% 15-MAY-2041, 5.62%, 05/15/41 GWT 2024-WLF2 362414AA2 - 2,900,000 $2,916,545 $2,916,545 0.05 $2,902,068
FHLMC 30yr Pool#QH5204 6.500% 01-Nov-2053, 6.50%, 11/01/53 FR 3133CHX91 - 2,818,065 $2,884,816 $2,884,816 0.05 $2,858,112
OBX 2026 HE1 FLTG 2056 A1B, 5.39%, 02/25/56 OBX 2026-HE1 67124BAB1 - 2,875,603 $2,880,427 $2,880,427 0.05 $2,870,959
COOPR Residential Mortgage Trust 2026-CES1 A2 5.158% 25-FEB-2061, 5.16%, 02/25/61 COOPR 2026-CES1 21689GAD0 - 2,949,000 $2,836,993 $2,836,993 0.05 $2,817,979
REDAPTIVE INC AB 5.48%34, 5.48%, 07/25/34 RDAP 2026-EQ1A 75720LAA2 - 2,780,352 $2,772,182 $2,772,182 0.05 $2,763,295
RCKT MORTGAGE TRUST 2025-CE 5.16% 34, 5.16%, 07/25/34 RCKTL 2025-1A 74939RAC5 - 2,750,000 $2,733,801 $2,733,801 0.05 $2,725,918
OBX TRUST 2026-HE1 FLTG 2056 M1, 5.54%, 02/25/56 OBX 2026-HE1 67124BAD7 - 2,707,000 $2,725,247 $2,725,247 0.04 $2,716,085
Chase Mortgage Reference Notes, Series 2021-CL1 M1 5.08787% 25-FEB-2050, 5.09%, 02/25/50 CHASE 2021-CL1 46591HBX7 - 2,652,353 $2,617,772 $2,617,772 0.04 $2,610,206
Vista Point Securitization Trust 2026-CES1 A2 5.226% 25-FEB-2056, 5.23%, 02/25/56 VSTA 2026-CES1 92790EAB6 - 2,600,000 $2,484,894 $2,484,894 0.04 $2,476,968
PRPM 2026-RCF1 A2 5.206% 25-JAN-2056, 5.21%, 01/25/56 PRPM 2026-RCF1 69383VAB9 - 2,500,000 $2,425,414 $2,425,414 0.04 $2,409,145
PRPM 2026-RCF1 A3 5.305% 25-JAN-2056, 5.30%, 01/25/56 PRPM 2026-RCF1 69383VAF0 - 2,500,000 $2,420,992 $2,420,992 0.04 $2,404,414
FHLMC 30yr Pool#QG2539 6.500% 01-May-2053, 6.50%, 05/01/53 FR 3133C2ZC5 - 2,358,164 $2,401,550 $2,401,550 0.04 $2,379,918
BAYVIEW OPPORTUNITY MAS MB FLTG 56, 5.94%, 05/25/56 BVCES 2026-2 07338CAC5 - 2,450,000 $2,391,095 $2,391,095 0.04 $2,372,910
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAB1 - 2,380,125 $2,330,271 $2,330,271 0.04 $2,314,651
FNMA 30yr Pool#BY8533 6.500% 01-Aug-2053, 6.50%, 08/01/53 FN 3140NRPT7 - 2,278,303 $2,326,029 $2,326,029 0.04 $2,304,633
RCKT Mortgage Trust 2026-CES1 A3 5.224% 25-JAN-2056, 5.22%, 01/25/56 RCKT 2026-CES1 74939BAD8 - 2,425,000 $2,306,055 $2,306,055 0.04 $2,290,220
Connecticut Avenue Securities, Series 2021-R03 1B2 9.38787% 25-DEC-2041, 9.39%, 12/25/41 CAS 2021-R03 20754AAJ2 - 2,130,000 $2,151,191 $2,151,191 0.04 $2,139,526
Ginnie Mae REMIC Trust 2017-163 LO 0.0% 16-MAY-2041, 0.00%, 05/16/41 GNR 2017-163 38380KNA9 - 2,885,964 $2,148,543 $2,148,543 0.04 $2,123,669
OBX 2022-NQM7 Trust MB FLTG 66, 5.42%, 04/25/56 OBX 2026-CES1 67124LAB9 - 2,164,102 $2,130,806 $2,130,806 0.04 $2,116,133
Flagship Credit Auto Trust 2023-1 C 5.43% 15-MAY-2029, 5.43%, 05/15/29 FCAT 2023-1 337955AJ7 - 2,095,644 $2,105,165 $2,105,165 0.03 $2,095,366
FIGRE Trust 2024-HE4 B 5.252% 25-SEP-2054, 5.25%, 09/25/54 FIGRE 2024-HE4 31684UAB7 - 2,139,992 $2,103,242 $2,103,242 0.03 $2,096,686
EFMT 2026-CES1 A1B 5.116% 25-DEC-2060, 5.12%, 12/25/60 EFMT 2026-CES1 26846MAB0 - 2,117,478 $2,086,405 $2,086,405 0.03 $2,072,864
FNMA 30yr Pool#BY0338 6.500% 01-May-2053, 6.50%, 05/01/53 FN 3140NGLU2 - 1,881,260 $1,925,332 $1,925,332 0.03 $1,907,425
GNMA II 30yr Pool#MA7535 3.000% 20-Aug-2051, 3.00%, 08/20/51 G2 36179WLQ9 - 2,204,554 $1,882,381 $1,882,381 0.03 $1,858,855
PRPM 2024-RCF2 A1 3.75% 25-MAR-2054, 3.75%, 03/25/54 PRPM 2024-RCF2 693987AA7 - 1,959,090 $1,878,038 $1,878,038 0.03 $1,873,752
FNMA 30yr Pool#FS1640 4.000% 01-Apr-2052, 4.00%, 04/01/52 FN 3140XGZE2 - 1,986,869 $1,799,295 $1,799,295 0.03 $1,785,527
Chase Mortgage Reference Notes, Series 2020-CL1 M2 6.55309% 25-OCT-2057, 6.55%, 10/25/57 CHASE 2020-CL1 46591HAH3 - 1,709,695 $1,767,257 $1,767,257 0.03 $1,760,721
Connecticut Avenue Securities Trust 2024-R06 1M2 5.48787% 25-SEP-2044, 5.49%, 09/25/44 CAS 2024-R06 20755RAC9 - 1,703,798 $1,710,318 $1,710,318 0.03 $1,704,863
Chase Mortgage Reference Notes, Series 2021-CL1 M3 5.43787% 25-FEB-2050, 5.44%, 02/25/50 CHASE 2021-CL1 46591HBZ2 - 1,729,776 $1,695,624 $1,695,624 0.03 $1,690,137
PRPM 2025-RCF3 LLC 5.25% 55, 5.25%, 07/25/55 PRPM 2025-RCF3 69392PAC9 - 1,700,000 $1,654,831 $1,654,831 0.03 $1,643,675
RCKT MORTGAGE TR 2026-CES2 M1A, 5.36%, 02/25/56 RCKT 2026-CES2 74940EAE7 - 1,723,000 $1,639,380 $1,639,380 0.03 $1,627,846
FNMA 30yr Pool#DA3549 6.500% 01-Oct-2053, 6.50%, 10/01/53 FN 3140A35K5 - 1,573,197 $1,609,930 $1,609,930 0.03 $1,595,553
Ally Bank Auto Credit-Linked Notes, Series 2024-A C 6.022% 15-MAY-2032, 6.02%, 05/17/32 ABCLN 2024-A 02007GZ63 - 1,521,955 $1,532,575 $1,532,575 0.03 $1,524,683
Chase Mortgage Reference Notes, Series 2021-CL1 M2 5.23787% 25-FEB-2050, 5.24%, 02/25/50 CHASE 2021-CL1 46591HBY5 - 1,558,257 $1,528,450 $1,528,450 0.03 $1,523,689
Bayview Opportunity Master Fund VII Trust 2024-CAR1 B 5.18787% 25-DEC-2031, 5.19%, 12/26/31 BVCLN 2024-CAR1 07336QAB8 - 1,496,826 $1,501,719 $1,501,719 0.02 $1,497,190
Foundation Finance Trust 2023-2 A 6.53% 15-JUN-2049, 6.53%, 06/15/49 FFIN 2023-2A 35042RAA4 - 1,450,332 $1,477,322 $1,477,322 0.02 $1,469,167
RCKT Mortgage Trust 2025-CES2 A3 5.859% 25-FEB-2055, 5.86%, 02/25/55 RCKT 2025-CES2 74942BAD3 - 1,350,000 $1,335,179 $1,335,179 0.02 $1,325,292
FHLMC 30yr Pool#QG4340 6.500% 01-Jun-2053, 6.50%, 06/01/53 FR 3133C4ZD9 - 1,284,663 $1,308,288 $1,308,288 0.02 $1,296,514
Santander Bank Auto Credit-Linked Notes, Series 2024-A B 5.622% 15-JUN-2032, 5.62%, 06/15/32 SBCLN 2024-A 80290CCJ1 - 1,242,928 $1,251,689 $1,251,689 0.02 $1,245,672
FNMA 30yr Pool#BY0327 6.500% 01-May-2053, 6.50%, 05/01/53 FN 3140NGLH1 - 1,218,531 $1,246,964 $1,246,964 0.02 $1,235,557
Rithm Capital Corp. 8.0% 15-JUL-2030, 8.00%, 07/15/30 RITM 64828TAC6 - 1,227,000 $1,238,344 $1,238,344 0.02 $1,205,351
Connecticut Avenue Securities Trust 2023-R02 1B2 11.78787% 25-JAN-2043, 11.79%, 01/25/43 CAS 2023-R02 20755AAE2 - 1,090,000 $1,182,973 $1,182,973 0.02 $1,175,478
EFMT 2026-CES1 M1 5.616% 25-DEC-2060, 5.62%, 12/25/60 EFMT 2026-CES1 26846MAF1 - 1,166,000 $1,119,338 $1,119,338 0.02 $1,111,153
FNMA 30yr Pool#DA0036 6.500% 01-Sep-2053, 6.50%, 09/01/53 FN 3140A0BE8 - 1,083,410 $1,109,347 $1,109,347 0.02 $1,095,931
FNMA 40yr Pool#BF0167 3.000% 01-Feb-2057, 3.00%, 02/01/57 FN 3140FXFH0 - 1,315,568 $1,095,002 $1,095,002 0.02 $1,087,712
FIGRE TRUST 2025-HE5 FLTG 2055 B, 5.49%, 08/25/55 FIGRE 2025-HE5 31684MAB5 - 1,108,536 $1,090,370 $1,090,370 0.02 $1,082,769
Connecticut Avenue Securities Trust 2023-R02 1B1 9.43787% 25-JAN-2043, 9.24%, 01/25/43 CAS 2023-R02 20755AAD4 - 1,023,280 $1,075,860 $1,075,860 0.02 $1,070,607
FHF Trust 2024-1 (First Help Financial) A2 5.69% 15-FEB-2030, 5.69%, 02/15/30 FHF 2024-1A 31568AAB2 - 1,013,496 $1,017,922 $1,017,922 0.02 $1,012,956
FHLMC 30yr Pool#QG3885 6.500% 01-Jun-2053, 6.50%, 06/01/53 FR 3133C4J62 - 958,110 $975,687 $975,687 0.02 $966,948
Santander Bank Auto Credit-Linked Notes, Series 2023-B B 5.64% 15-DEC-2033, 5.64%, 12/15/33 SBCLN 2023-B 80290CCB8 - 960,483 $967,344 $967,344 0.02 $962,679
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 - 947,752 $951,877 $951,877 0.02 $948,124
FNMA 30yr Pool#BJ9181 5.000% 01-May-2048, 5.00%, 05/01/48 FN 3140HBFX1 - 942,760 $936,643 $936,643 0.02 $904,808
RCKT Mortgage Trust 2025-CES10 A1B 4.995% 25-OCT-2055, 5.00%, 11/25/55 RCKT 2025-CES10 74939LAB0 - 950,048 $934,494 $934,494 0.02 $928,562
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA3 B2 13.63787% 25-APR-2042, 13.64%, 04/25/42 STACR 2022-DNA3 35564KWG0 - 895,000 $934,045 $934,045 0.02 $926,925
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA6 M2 9.63787% 25-SEP-2042, 9.64%, 09/25/42 STACR 2022-DNA6 35564KH77 - 860,000 $898,561 $898,561 0.01 $893,726
FREMF 2019-KF70 Mortgage Trust C 9.86126% 25-SEP-2029, 9.86%, 09/25/29 FREMF 2019-KF70 30298UAJ0 - 890,414 $893,961 $893,961 0.01 $888,595
Ally Bank Auto Credit-Linked Notes, Series 2024-A D 6.315% 15-MAY-2032, 6.31%, 05/17/32 ABCLN 2024-A 02007GZ71 - 869,689 $876,636 $876,636 0.01 $871,907
FNMA 30yr Pool#BY0361 6.500% 01-Jun-2053, 6.50%, 06/01/53 FN 3140NGMK3 - 812,319 $831,113 $831,113 0.01 $823,626
Structured Agency Credit Risk (STACR) Debt Notes, Series 2020-DNA2 B2 8.80235% 25-FEB-2050, 8.80%, 02/25/50 STACR 2020-DNA2 35565KBE7 - 728,791 $799,453 $799,453 0.01 $795,711
RCKT Mortgage Trust 2025-CES10 M1 5.662% 25-OCT-2055, 5.66%, 11/25/55 RCKT 2025-CES10 74939LAE4 - 763,000 $739,210 $739,210 0.01 $733,810
Bayview Opportunity Master Fund VII Trust 2024-CAR1 C 5.38787% 25-DEC-2031, 5.39%, 12/26/31 BVCLN 2024-CAR1 07336QAC6 - 728,455 $726,124 $726,124 0.01 $723,835
FNMA 30yr Pool#CC0990 5.000% 01-Sep-2055, 5.00%, 09/01/55 FN 3140Y7C48 - 758,074 $724,145 $724,145 0.01 $717,775
Freddie Mac Structured Agency Credit Risk (STACR) REMIC Trust 2022-DNA5 M2 10.63787% 25-JUN-2042, 10.64%, 06/25/42 STACR 2022-DNA5 35564KYW3 - 651,000 $676,884 $676,884 0.01 $672,844
FHLMC 30yr Pool#ZT1926 3.000% 01-Nov-2043, 3.00%, 11/01/43 FR 3132AED78 - 711,168 $624,118 $624,118 0.01 $617,587
Compass Datacenters Issuer II, Series 2024-1 B_2401 7.0% 25-FEB-2049, 7.00%, 02/25/49 CMPDC 2024-1A 20469AAC3 - 620,000 $620,591 $620,591 0.01 $618,059
ACHV ABS Trust 2024-1PL B 6.34% 25-APR-2031, 6.34%, 04/25/31 ACHV 2024-1PL 00092BAB0 - 614,995 $617,498 $617,498 0.01 $615,223
FNMA 30yr Pool#CB6864 5.000% 01-Aug-2053, 5.00%, 08/01/53 FN 3140QSTW1 - 609,955 $591,415 $591,415 0.01 $577,230
FHLMC 30yr Pool#QG2540 6.500% 01-May-2053, 6.50%, 05/01/53 FR 3133C2ZD3 - 537,260 $548,656 $548,656 0.01 $543,489
FNMA 30yr Pool#AL6842 4.000% 01-May-2045, 4.00%, 05/01/45 FN 3138EPS88 - 546,472 $513,872 $513,872 0.01 $501,000
ACHM Trust 2024-HE1 B 7.26% 25-MAY-2039, 7.26%, 05/25/39 ACHM 2024-HE1 00449TAB1 - 504,609 $511,993 $511,993 0.01 $509,856
U.S. Auto Funding 2021-1 C 2.2% 15-MAY-2026, 2.20%, 05/15/27 USAUT 2021-1A 90355EAC5 - 744,414 $483,394 $483,394 0.01 $481,984
GNMA II 30yr Pool#MA7590 3.000% 20-Sep-2051, 3.00%, 09/20/51 G2 36179WNF1 - 511,970 $438,158 $438,158 0.01 $431,647
FHLMC 15yr Pool#SB0116 2.500% 01-Nov-2034, 2.50%, 11/01/34 FR 3132CWDV3 - 418,532 $397,834 $397,834 0.01 $386,818
ACHV ABS Trust 2024-1PL C 6.42% 25-APR-2031, 6.42%, 04/25/31 ACHV 2024-1PL 00092BAC8 - 376,941 $378,447 $378,447 0.01 $377,036
FHLMC 30yr Pool#QA8274 3.500% 01-Mar-2050, 3.50%, 03/01/50 FR 3133A3FP8 - 378,854 $329,600 $329,600 0.01 $327,141
FHF Issuer Trust 2023-2 (First Help Financial) A2 6.79% 15-OCT-2029, 6.79%, 10/15/29 FHF 2023-2A 30333LAB4 - 321,232 $323,894 $323,894 0.01 $322,016
FNMA 30yr Pool#CA4646 3.000% 01-Feb-2048, 3.00%, 02/01/48 FN 3140QCEU6 - 364,526 $319,482 $319,482 0.01 $316,675
Hotwire Funding, Series 2021-1 B_2021_1 2.658% 20-NOV-2051, 2.66%, 11/20/51 HWIRE 2021-1 44148JAB5 - 300,000 $300,576 $300,576 0.00 $300,000
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA5 M2 5.53787% 25-JAN-2034, 5.54%, 01/25/34 STACR 2021-DNA5 35564KHE2 - 257,718 $259,037 $259,037 0.00 $258,204
FNMA 30yr Pool#AR9225 3.000% 01-Mar-2043, 3.00%, 03/01/43 FN 3138W7HB3 - 294,942 $257,646 $257,646 0.00 $255,157
Structured Agency Credit Risk (STACR) Debt Notes, Series 2023-HQA2 M1A 5.88787% 25-JUN-2043, 5.89%, 06/25/43 STACR 2023-HQA2 35564K2F5 - 248,029 $248,958 $248,958 0.00 $248,106
FNMA 30yr Pool#AS8649 3.000% 01-Jan-2047, 3.00%, 01/01/47 FN 3138WJTF5 - 282,074 $242,761 $242,761 0.00 $240,661
Fannie Mae REMIC Trust 2012-126 SY 0.0% 25-NOV-2042, 0.00%, 11/25/42 FNR 2012-126 3136A9ZR2 - 473,554 $239,041 $239,041 0.00 $239,041
FHLMC 30yr Pool#ZN4240 4.500% 01-Dec-2048, 4.50%, 12/01/48 FR 3131YAV98 - 240,064 $225,321 $225,321 0.00 $223,315
FHLMC 30yr Pool#QA1615 3.500% 01-Aug-2049, 3.50%, 08/01/49 FR 31334XYL7 - 228,455 $200,401 $200,401 0.00 $198,871
Structured Agency Credit Risk (STACR) Debt Notes, Series 2021-DNA6 B2 11.19029% 25-OCT-2041, 11.19%, 10/25/41 STACR 2021-DNA6 35564KLV9 - - $196,133 $196,133 0.00 $0
FNMA 30yr Pool#MA1327 3.000% 01-Jan-2043, 3.00%, 01/01/43 FN 31418APM4 - 213,383 $190,216 $190,216 0.00 $185,304
FHLMC 15yr Pool#SB0040 2.500% 01-Dec-2033, 2.50%, 12/01/33 FR 3132CWBH6 - 172,938 $168,858 $168,858 0.00 $163,736
Fannie Mae REMIC Trust 2017-9 VL 3.0% 25-JUL-2028, 3.00%, 07/25/28 FNR 2017-9 3136AVYH6 - 134,160 $163,301 $163,301 0.00 $133,492
FNMA 30yr Pool#BO2983 3.000% 01-Sep-2049, 3.00%, 09/01/49 FN 3140JXJ58 - 171,080 $152,850 $152,850 0.00 $146,095
FNMA 30yr Pool#AB6280 3.000% 01-Sep-2042, 3.00%, 09/01/42 FN 31417C6S9 - 166,289 $146,126 $146,126 0.00 $144,407
FNMA 30yr Pool#MA1229 3.000% 01-Oct-2042, 3.00%, 10/01/42 FN 31418ALK2 - 131,990 $116,654 $116,654 0.00 $115,322
FNMA 20yr Pool#AB9283 3.000% 01-Apr-2038, 3.00%, 04/01/38 FN 31417GJ56 - 117,158 $107,691 $107,691 0.00 $105,993
FNMA 30yr Pool#BM3282 3.500% 01-Dec-2047, 3.50%, 12/01/47 FN 3140J7UG8 - 102,079 $92,022 $92,022 0.00 $90,565
FNMA 30yr Pool#CA0108 3.500% 01-Aug-2047, 3.50%, 08/01/47 FN 3140Q7DN4 - 94,314 $85,270 $85,270 0.00 $83,676
Fannie Mae REMIC Trust 2013-130 FN 4.35235% 25-OCT-2042, 4.35%, 10/25/42 FNR 2013-130 3136AHG53 - 75,276 $74,782 $74,782 0.00 $74,591
FHLMC 30yr Pool#ZM7926 5.000% 01-Sep-2048, 5.00%, 09/01/48 FR 3131Y2YX0 - 75,399 $73,026 $73,026 0.00 $72,381
FNMA 30yr Pool#MA1447 3.000% 01-May-2043, 3.00%, 05/01/43 FN 31418ATD0 - 68,215 $59,868 $59,868 0.00 $59,013
FNMA 30yr Pool#AS8547 3.000% 01-Nov-2046, 3.00%, 11/01/46 FN 3138WJP93 - 68,984 $59,018 $59,018 0.00 $58,547
Sequoia Mortgage Trust 2019-CH3 A19 4.0% 25-OCT-2049, 4.00%, 09/25/49 SEMT 2019-CH3 81748GBN0 - 51,292 $45,820 $45,820 0.00 $45,563
Fannie Mae REMIC Trust 2006-20 GF 4.35235% 25-APR-2036, 4.35%, 04/25/36 FNR 2006-20 31395BU43 - 45,900 $45,470 $45,470 0.00 $45,353
Vista Point Securitization Trust 2025-CES2 A1 5.601% 25-AUG-2055, 5.60%, 08/25/55 VSTA 2025-CES2 92842UAA0 - - $42,478 $42,478 0.00 $0
FHLMC 15yr Pool#ZK8962 3.000% 01-Sep-2032, 3.00%, 09/01/32 FR 3131XC5X1 - 42,889 $41,722 $41,722 0.00 $40,767
TOWD POINT MORTGAGE TRUST 2025 0% 65, 4.97%, 09/25/65 TPMT 2025-FIX1 89183MAA1 - - $41,402 $41,402 0.00 $0
Fannie Mae REMIC Trust 2010-109 BS 10.87856% 25-OCT-2040, 10.88%, 10/25/40 FNR 2010-109 31398NTM6 - 41,248 $38,223 $38,223 0.00 $37,573
Freddie Mac Multiclass Certificates, Series 3380 FM 4.55289% 15-OCT-2037, 4.55%, 10/15/37 FHR 3380 31397KTJ0 - 37,634 $37,699 $37,699 0.00 $37,552
FNMA 15yr Pool#BO5957 3.000% 01-Dec-2034, 3.00%, 12/01/34 FN 3140K1TP1 - 38,419 $36,454 $36,454 0.00 $35,835
Freddie Mac Multiclass Certificates, Series 3721 FB 4.46289% 15-SEP-2040, 4.46%, 09/15/40 FHR 3721 3137GAD20 - 34,966 $34,882 $34,882 0.00 $34,748
FHLMC 15yr Pool#ZS7403 3.000% 01-May-2031, 3.00%, 05/01/31 FR 3132A8GL7 - 34,796 $34,790 $34,790 0.00 $33,581
Ginnie Mae REMIC Trust 2008-013 FB 4.50525% 20-FEB-2038, 4.57%, 02/20/38 GNR 2008-13 38375PNL1 - 34,649 $34,308 $34,308 0.00 $34,195
FNMA 30yr Pool#BC0870 3.500% 01-Jan-2046, 3.50%, 01/01/46 FN 3140EU6G9 - 33,202 $30,056 $30,056 0.00 $29,317
Ginnie Mae REMIC Trust 2007-040 FG 4.32525% 20-JUL-2037, 4.39%, 07/20/37 GNR 2007-40 38375KZS4 - 26,366 $26,171 $26,171 0.00 $26,088
FHLMC 15yr Pool#ZK9163 3.000% 01-Jan-2033, 3.00%, 01/01/33 FR 3131XDFC4 - 24,998 $24,641 $24,641 0.00 $23,729
Ginnie Mae REMIC Trust 2004-069 CF 4.40525% 20-JUL-2034, 4.47%, 07/20/34 GNR 2004-69 38374JAT3 - 21,441 $21,391 $21,391 0.00 $21,322
Ginnie Mae REMIC Trust 2007-059 FA 4.50525% 20-OCT-2037, 4.57%, 10/20/37 GNR 2007-59 38375LPU8 - 20,747 $20,713 $20,713 0.00 $20,644
Fannie Mae REMIC Trust 2013-2 QF 4.50235% 25-FEB-2043, 4.50%, 02/25/43 FNR 2013-2 3136AB4P5 - 20,833 $20,653 $20,653 0.00 $20,599
FNMA 15yr Pool#BO7717 3.000% 01-Nov-2034, 3.00%, 11/01/34 FN 3140K3SF0 - 21,119 $20,213 $20,213 0.00 $19,835
FHLMC 30yr Pool#ZN2165 4.500% 01-Dec-2048, 4.50%, 12/01/48 FR 3131Y8MN2 - 20,600 $19,786 $19,786 0.00 $19,178
Ginnie Mae REMIC Trust 2008-016 FC 4.50525% 20-FEB-2038, 4.57%, 02/20/38 GNR 2008-16 383742FU2 - 16,749 $16,592 $16,592 0.00 $16,537
Ginnie Mae REMIC Trust 2007-037 FW 4.31525% 20-JUN-2037, 4.38%, 06/20/37 GNR 2007-37 38375KNR9 - 16,202 $15,944 $15,944 0.00 $15,893
Ginnie Mae REMIC Trust 2005-065 FA 4.15525% 20-AUG-2035, 4.22%, 08/20/35 GNR 2005-65 38374LL25 - 16,004 $15,747 $15,747 0.00 $15,698
Ginnie Mae REMIC Trust 2010-133 FD 4.47708% 16-OCT-2040, 4.48%, 10/16/40 GNR 2010-133 38377MHV1 - 15,252 $15,254 $15,254 0.00 $15,195
Blue Bridge Funding 2023-1 A 7.37% 15-NOV-2030, 7.37%, 11/15/30 BBEF 2023-1A 09531MAA8 - 15,147 $15,243 $15,243 0.00 $15,147
Ginnie Mae REMIC Trust 2004-059 FP 4.34708% 16-AUG-2034, 4.35%, 08/16/34 GNR 2004-59 38374HYS3 - 14,590 $14,548 $14,548 0.00 $14,494
Freddie Mac Multiclass Certificates, Series 2426 FL 4.61289% 15-MAR-2032, 4.61%, 03/15/32 FHR 2426 31339W7G5 - 13,043 $13,117 $13,117 0.00 $13,065
Ginnie Mae REMIC Trust 2005-048 AF 4.20525% 20-JUN-2035, 4.27%, 06/20/35 GNR 2005-48 38374LHM6 - 13,130 $13,006 $13,006 0.00 $12,966
Fannie Mae REMIC Trust 2002-53 FK 4.40235% 25-APR-2032, 4.40%, 04/25/32 FNR 2002-53 31392EHN3 - 12,612 $12,613 $12,613 0.00 $12,580
Fannie Mae REMIC Trust 2005-83 KT 4.30235% 25-OCT-2035, 4.30%, 10/25/35 FNR 2005-83 31394FUL7 - 11,269 $11,179 $11,179 0.00 $11,151
Fannie Mae REMIC Trust 2007-89 GF 4.52235% 25-SEP-2037, 4.52%, 09/25/37 FNR 2007-89 31396XPM0 - 10,130 $10,131 $10,131 0.00 $10,105
Freddie Mac Multiclass Certificates, Series 2551 FD 4.36289% 15-JAN-2033, 4.36%, 01/15/33 FHR 2551 31393JAZ1 - 9,434 $9,436 $9,436 0.00 $9,400
Ginnie Mae REMIC Trust 2012-075 FP 4.30525% 20-JUL-2041, 4.37%, 07/20/41 GNR 2012-75 38378EZ55 - 8,839 $8,838 $8,838 0.00 $8,810
Ginnie Mae REMIC Trust 2007-061 FA 4.50525% 20-OCT-2037, 4.57%, 10/20/37 GNR 2007-61 38375LLN8 - 8,391 $8,377 $8,377 0.00 $8,349
Fannie Mae REMIC Trust 2010-123 FL 4.43235% 25-NOV-2040, 4.43%, 11/25/40 FNR 2010-123 31398N2W3 - 7,199 $7,178 $7,178 0.00 $7,159
Freddie Mac Multiclass Certificates, Series 2410, excluding Group 6 FX 4.31289% 15-FEB-2032, 4.31%, 02/15/32 FHR 2410 31339NJN7 - 7,043 $7,058 $7,058 0.00 $7,032
FNMA 15yr Pool#AS8207 2.500% 01-Oct-2031, 2.50%, 10/01/31 FN 3138WJDM7 - 6,764 $6,639 $6,639 0.00 $6,415
Fannie Mae REMIC Trust 2012-100 FG 4.40235% 25-SEP-2042, 4.40%, 09/25/42 FNR 2012-100 3136A8QW3 - 6,662 $6,594 $6,594 0.00 $6,578
Freddie Mac Multiclass Certificates, Series 3028 FM 4.21289% 15-SEP-2035, 4.21%, 09/15/35 FHR 3028 31396AFB5 - 6,052 $6,047 $6,047 0.00 $6,025
FNMA 15yr Pool#AS7643 2.500% 01-Aug-2031, 2.50%, 08/01/31 FN 3138WHP55 - 6,205 $6,042 $6,042 0.00 $5,892
Fannie Mae REMIC Trust 2003-87 FG 4.50235% 25-SEP-2033, 4.50%, 09/25/33 FNR 2003-87 31393E4W6 - 6,004 $6,014 $6,014 0.00 $5,998
Ginnie Mae REMIC Trust 2007-018 FD 4.30525% 20-APR-2037, 4.37%, 04/20/37 GNR 2007-18 38375JC86 - 6,100 $5,997 $5,997 0.00 $5,978
FNMA 15yr Pool#BM1036 2.500% 01-Feb-2032, 2.50%, 02/01/32 FN 3140J5EJ4 - 6,048 $5,906 $5,906 0.00 $5,734
Ginnie Mae REMIC Trust 2010-006 FG 4.64708% 16-JAN-2040, 4.65%, 01/16/40 GNR 2010-6 38376TSC7 - 5,626 $5,592 $5,592 0.00 $5,569
FHLMC 15yr Pool#ZK8405 2.500% 01-Dec-2031, 2.50%, 01/22/31 FR 3131XCKS5 - 5,323 $5,190 $5,190 0.00 $5,039
Fannie Mae REMIC Trust 2002-16 VF 4.55235% 25-APR-2032, 4.55%, 04/25/32 FNR 2002-16 31392CWW0 - 5,020 $5,043 $5,043 0.00 $5,030
Fannie Mae REMIC Trust 2010-95 FB 4.40235% 25-SEP-2040, 4.40%, 09/25/40 FNR 2010-95 31398NEX8 - 4,436 $4,430 $4,430 0.00 $4,418
Freddie Mac Multiclass Certificates, Series 3738 FD 4.26289% 15-AUG-2040, 4.26%, 08/15/40 FHR 3738 3137GAYQ4 - 1,013 $1,017 $1,017 0.00 $1,013
FHLMC 30yr Pool#ZN0650 3.000% 01-Mar-2043, 3.00%, 03/01/43 FR 3131Y6WK1 - 1,005 $877 $877 0.00 $869
FHLMC 30yr Pool#QH7013 6.500% 01-Dec-2053, 6.50%, 12/01/53 FR 3133CKYJ1 - - $548 $548 0.00 $0
GNMA II 30yr Pool#BF6874 4.500% 20-Jul-2048, 4.50%, 07/20/48 G2 3617GDT77 - - $462 $462 0.00 $0
Freddie Mac Multiclass Certificates, Series 2469 FE 4.46289% 15-JUL-2032, 4.46%, 07/15/32 FHR 2469 31392RC58 - 430.00 $432 $432 0.00 $430
GNMA II 30yr Pool#BK5879 4.500% 20-Nov-2048, 4.50%, 11/20/48 G2 3617J6Q80 - - $409 $409 0.00 $0
Ginnie Mae REMIC Trust 2010-125 VF 4.35525% 20-JUN-2040, 4.42%, 06/20/40 GNR 2010-125 38377JYJ6 - 266.00 $266 $266 0.00 $265
Ginnie Mae REMIC Trust 1999-27 FE 4.44708% 16-AUG-2029, 4.45%, 08/16/29 GNR 1999-27 3837H2WA3 - 41.00 $42 $42 0.00 $41
US ULTRA BOND CBT Dec26 DEC 26 WNZ6 FUTURES_USD - -489.00 $-52,032,656 $0 0.00 $0
US 5YR NOTE (CBT) Dec26 DEC 26 FVZ6 FUTURES_USD - 3,686 $382,739,267 $0 0.00 $0
US 2YR NOTE (CBT) Dec26 DEC 26 TUZ6 FUTURES_USD - -525.00 $-106,853,906 $0 0.00 $0
US 10YR NOTE (CBT)Dec26 DEC 26 TYZ6 FUTURES_USD - -3,813 $-401,079,938 $0 0.00 $0
US 10yr Ultra Fut Dec26 DEC 26 UXYZ6 FUTURES_USD - -364.00 $-38,709,125 $0 0.00 $0
UMBS TBA 30yr 4.5% December Delivery, 4.50%, 12/10/26 FNCL 01F0426C2 - -532,090,096 $-482,914,861 $-482,914,861 -7.97 $-482,914,861
UMBS TBA 30yr 5% December Delivery, 5.00%, 12/10/26 FNCL 01F0506C5 - -588,211,864 $-550,298,080 $-550,298,080 -9.08 $-550,298,080
UMBS TBA 30yr 5.5% December Delivery, 5.50%, 12/10/26 FNCL 01F0526C1 - -1,564,793,596 $-1,505,752,369 $-1,505,752,369 -24.84 $-1,505,752,369
SEGREGATED CASH SEGCASH $0.00 24,989,193 $24,989,193 $24,989,193 0.41 $24,989,193
ALMSUM ALMSUM $0.00 - $0 $0 0.00 $0
US DOLLARS USD MD_142224 - -1,605,173,237 $-1,605,173,237 $-1,605,173,237 -26.48 $-1,605,173,237
3 MONTH SOFR FUT Sep27 SEP 27 SFRU7 FUTURES_USD - 1,367 $325,277,650 $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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