| 1 |
US TREASURY N/B |
— |
9,607,200 |
$9.63M |
3.54% |
| 2 |
US TREASURY N/B |
— |
6,112,300 |
$6.06M |
2.23% |
| 3 |
Freddie Mac REMICS |
— |
4,072,246 |
$4.12M |
1.52% |
| 4 |
US TREASURY N/B |
— |
3,965,900 |
$3.97M |
1.46% |
| 5 |
FANNIE MAE REMICS SER 2024-103 CL FH V/R 5.12419000 |
— |
3,037,644 |
$3.06M |
1.12% |
| 6 |
Fannie Mae REMICS |
— |
2,966,961 |
$2.99M |
1.10% |
| 7 |
USD/SEK FORWARD |
N/A |
2,810,148 |
$2.81M |
1.03% |
| 8 |
DAIWA CAPITAL MARKETS AMERICA INC |
— |
2,810,148 |
$2.81M |
1.03% |
| 9 |
CANTOR FITZGERALD SECURITIES SLRPD 3.850% 01/02/2026 |
CANS |
2,810,148 |
$2.81M |
1.03% |
| 10 |
Fannie Mae REMICS |
— |
2,513,831 |
$2.53M |
0.93% |
| 11 |
Government National Mortgage Association |
— |
2,203,705 |
$2.19M |
0.80% |
| 12 |
LSTR Trust 2026-HTL6 |
— |
2,000,000 |
$2.00M |
0.73% |
| 13 |
Duke Energy Corp 0% CP 01/05/2026 |
— |
2,000,000 |
$1.99M |
0.73% |
| 14 |
U.S. Treasury Notes |
— |
1,835,200 |
$1.85M |
0.68% |
| 15 |
Freddie Mac REMICS |
— |
1,769,583 |
$1.79M |
0.66% |
| 16 |
MSBAM 2015-C22 AS 3.561% 04-15-48 |
— |
1,810,000 |
$1.75M |
0.64% |
| 17 |
BXSC Commercial Mortgage Trust 2022-WSS |
— |
1,740,985 |
$1.74M |
0.64% |
| 18 |
COMET 2025-A1 A |
— |
1,750,000 |
$1.74M |
0.64% |
| 19 |
BLP COMMERCIAL MORTGAGE TRUST 2024-IND2 BLP 2024-IND2 B |
— |
1,713,312 |
$1.71M |
0.63% |
| 20 |
INVESCO CLO 2021-3 LTD |
— |
1,540,000 |
$1.54M |
0.57% |
| 21 |
ILPT Commercial Mortgage Trust, Series 2025-LPF2, Class A |
— |
1,500,000 |
$1.52M |
0.56% |
| 22 |
ELM TRUST 2024-ELM ELM 2024-ELM B15 |
— |
1,500,000 |
$1.50M |
0.55% |
| 23 |
CSTL Commercial Mortgage Trust 2024-GATE |
— |
1,500,000 |
$1.50M |
0.55% |
| 24 |
TLOT 2025-B A3 |
— |
1,500,000 |
$1.49M |
0.55% |
| 25 |
Freddie Mac REMICS |
— |
1,469,947 |
$1.48M |
0.54% |
| 26 |
Honda Auto Receivables Owner Trust, Series 2025-4, Class A2A |
HAROT |
1,450,000 |
$1.45M |
0.53% |
| 27 |
Rad CLO 6 Ltd., Series 2019-6A, Class A1R |
— |
1,300,000 |
$1.30M |
0.48% |
| 28 |
KKR FINANCIAL CLO LTD KKR 33A AR 144A |
— |
1,300,000 |
$1.30M |
0.48% |
| 29 |
OBX 2023-J1 Trust |
— |
1,330,768 |
$1.30M |
0.48% |
| 30 |
US TREASURY N/B |
— |
1,295,800 |
$1.29M |
0.47% |
| 31 |
BMO Mortgage Trust, Series 2024-5C6, Class B |
— |
1,250,000 |
$1.27M |
0.47% |
| 32 |
MHP Commercial Mortgage Trust 2025-MHIL2 |
— |
1,250,000 |
$1.25M |
0.46% |
| 33 |
Freddie Mac REMICS |
— |
1,238,659 |
$1.23M |
0.45% |
| 34 |
ONNI Commerical Mortgage Trust, Series 2024-APT, Class A |
ONNI |
1,200,000 |
$1.22M |
0.45% |
| 35 |
JP Morgan Chase Commercial Mortgage Securities Trust 2021-NYAH |
— |
1,300,000 |
$1.20M |
0.44% |
| 36 |
BX Commercial Mortgage Trust, Series 2024-AIR2, Class B |
— |
1,198,975 |
$1.20M |
0.44% |
| 37 |
NWML 2023-IA A1R 4/38 |
— |
1,200,000 |
$1.20M |
0.44% |
| 38 |
ZAR/USD FORWARD |
N/A |
1,156,556 |
$1.16M |
0.43% |
| 39 |
HPS Loan Management 2025-25 Ltd |
— |
1,150,000 |
$1.15M |
0.42% |
| 40 |
Neuberger Berman Loan Advisers CLO Ltd., Series 2022-47A, Class AR |
— |
1,150,000 |
$1.15M |
0.42% |
| 41 |
Neuberger Berman Loan Advisers CLO 26 Ltd., Series 2017-26A, Class AR2 |
— |
1,080,000 |
$1.08M |
0.40% |
| 42 |
Extended Stay America Trust, Series 2025-ESH, Class B |
ESA |
1,000,000 |
$1.00M |
0.37% |
| 43 |
STWD 2025-FL4 LLC |
— |
1,000,000 |
$1.00M |
0.37% |
| 44 |
ARCREN 2026-FL1 A |
— |
1,000,000 |
$1.00M |
0.37% |
| 45 |
ACREC LLC, Series 2026-FL4, Class A |
— |
1,000,000 |
$1.00M |
0.37% |
| 46 |
ACRES Commercial Realty Issuer LLC, Series 2026-FL4, Class A |
— |
1,000,000 |
$1.00M |
0.37% |
| 47 |
ARES TR 2024-IND2 A TSFR1M+144.3 10/15/2034 144A |
— |
1,000,000 |
$1.00M |
0.37% |
| 48 |
WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-B33RP WFCM 2025-B33RP A |
— |
1,000,000 |
$1.00M |
0.37% |
| 49 |
Octagon Investment Partners 48 Ltd., Series 2020-3A, Class A1R2 |
— |
1,000,000 |
$1.00M |
0.37% |
| 50 |
AREIT Ltd., Series 2025-CRE10, Class A |
AREIT |
1,000,000 |
$999.97K |
0.37% |