Holdings of the Fund as of 12/5/2025
Total Number of Holdings (excluding cash): 89
| THE 2023-MIC Trust Series 2023-MIC, Class A, Variable rate, due 12/05/2038 |
|
87256GAA0 |
530,000 |
$572,961.96 |
2.23% |
| BSTN Commercial Mortgage Trust Series 2025-1C, Class A, Variable rate, due 06/15/2044 |
|
05615EAA3 |
550,000 |
$566,690.47 |
2.21% |
| CENT Trust Series 2025-CITY, Class A, Variable rate, due 07/10/2040 |
|
12517TAA5 |
550,000 |
$557,780.52 |
2.17% |
| NY Commercial Mortgage Trust Series 2025-299P, Class A, Variable rate, due 02/10/2035 |
|
62957FAA7 |
500,000 |
$526,807.10 |
2.05% |
| VRTX Trust Series 2025-HQ, Class A, Variable rate, due 08/05/2042 |
|
91835XAA5 |
500,000 |
$505,531.50 |
1.97% |
| Bank Series 2020-BN25, Class A5, 2.649%, due 01/15/2063 |
|
06539WBB1 |
542,000 |
$503,018.17 |
1.96% |
| INT Commercial Mortgage Trust Series 2025-PLAZA, Class A, Variable rate, due 11/05/2037 |
|
44989YAA6 |
500,000 |
$502,333.70 |
1.96% |
| BX Trust Series 2025-DELC, Class A, Variable rate, due 12/15/2030 |
|
05594MAA0 |
500,000 |
$501,617.65 |
1.95% |
| TEXAS Commercial Mortgage Trust Series 2025-TWR, Class A, Variable rate, due 04/15/2042 |
|
88231WAA3 |
500,000 |
$500,311.50 |
1.95% |
| U.S. Treasury Bill, 0%, due 12/16/2025 |
|
912797RX7 |
500,000 |
$499,585.11 |
1.95% |
| Barclays Commercial Mortgage Securities LLC Series 2020-C8, Class A5, 2.04%, due 10/15/2053 |
|
05552ABC1 |
550,000 |
$488,697.44 |
1.90% |
| BENCHMARK Mortgage Trust Series 2023-B40, Class ASB, 6.2533%, due 12/15/2056 |
|
08163WAD7 |
425,000 |
$461,332.57 |
1.80% |
| BENCHMARK Mortgage Trust Series 2021-B25, Class A4, 2.268%, due 04/15/2054 |
|
08163DAD9 |
500,000 |
$455,939.45 |
1.78% |
| BX Trust Series 2020-VIV4, Class A, 2.843%, due 03/09/2044 |
|
05608MAA4 |
489,000 |
$453,797.63 |
1.77% |
| Bank Series 2020-BN29, Class A4, 1.997%, due 11/15/2053 |
|
06541TBF5 |
500,170 |
$439,689.79 |
1.71% |
| BWAY Mortgage Trust Series 2025-1535, Class A, Variable rate, due 05/05/2030 |
|
12430BAA8 |
415,000 |
$430,196.72 |
1.68% |
| Citigroup Commercial Mortgage Trust Series 2019-GC43, Class AAB, 2.959%, due 11/10/2052 |
|
17328HBE0 |
394,360 |
$384,467.91 |
1.50% |
| Wells Fargo Commercial Mortgage Trust Series 2018-C47, Class A4, 4.442%, due 09/15/2061 |
|
95002DBG3 |
375,000 |
$376,651.58 |
1.47% |
| NYO Commercial Mortgage Trust Series 2021-1290, Class A, Variable rate, due 11/15/2038 |
|
62955HAA5 |
375,000 |
$374,011.39 |
1.46% |
| BMO Mortgage Trust Series 2025-C12, Class ASB, 5.76198%, due 06/15/2058 |
|
05615DAD9 |
350,000 |
$371,854.98 |
1.45% |
| BX Trust Series 2021-ARIA, Class A, Variable rate, due 10/15/2036 |
|
05608RAA3 |
370,000 |
$369,965.74 |
1.44% |
| Arbor Multifamily Mortgage Securities Trust Series 2020-MF1, Class A4, 2.4953%, due 05/15/2053 |
|
03881BAC7 |
390,000 |
$364,570.64 |
1.42% |
| Wells Fargo Commercial Mortgage Trust Series 2022-C62, Class A4, Variable rate, due 04/15/2055 |
|
95003MBS6 |
380,000 |
$364,176.54 |
1.42% |
| Cantor Commercial Real Estate Lending Series 2019-CF1, Class A2, 3.6234%, due 05/15/2052 |
|
12529MAB4 |
359,554 |
$353,992.51 |
1.38% |
| Credit Suisse Mortgage Trust Series 2019-UVIL, Class A, 3.1595%, due 12/15/2041 |
|
12656DAA1 |
375,000 |
$353,655.00 |
1.38% |
| Wells Fargo Commercial Mortgage Trust Series 2025-B33RP, Class A, Variable rate, due 08/15/2042 |
|
95004RAA4 |
350,000 |
$350,342.06 |
1.37% |
| arbor multifamily mortgage securities trust Series 2021-MF2, Class A4, 2.2515%, due 06/15/2054 |
|
03881VAG4 |
390,000 |
$349,834.49 |
1.36% |
| WHARF Commercial Mortgage Trust Series 2025-DC, Class A, Variable rate, due 07/15/2040 |
|
92987LAA5 |
325,000 |
$334,489.16 |
1.30% |
| Morgan Stanley Capital I Trust Series 2019-L2, Class XA, Variable rate, due 03/15/2052 |
|
61768HAX4 |
12,246,358 |
$324,592.16 |
1.26% |
| Barclays Commercial Mortgage Securities LLC Series 2022-C18, Class A5, Variable rate, due 12/15/2055 |
|
054975AE7 |
300,000 |
$318,245.52 |
1.24% |
| BMO Mortgage Trust Series 2024-C9, Class ASB, 5.7715%, due 07/15/2057 |
|
05593MAE3 |
300,000 |
$318,711.27 |
1.24% |
| SFO Commerical Mortgage Trust Series 2021-555, Class A, Variable rate, due 05/15/2038 |
|
78432WAA1 |
319,200 |
$317,537.64 |
1.24% |
| Bank Series 2020-BN30, Class A4, 1.925%, due 12/15/2053 |
|
06541UBW5 |
350,000 |
$308,807.07 |
1.20% |
| GS Mortgage Securities Trust Series 2024-FAIR, Class A, Variable rate, due 07/15/2029 |
|
36270JAA3 |
300,000 |
$308,650.56 |
1.20% |
| Morgan Stanley Capital I Trust Series 2019-L2, Class A3, 3.806%, due 03/15/2052 |
|
61768HAV8 |
310,015 |
$305,604.82 |
1.19% |
| Bank Series 2020-BN26, Class A3, 2.155%, due 03/15/2063 |
|
06540JBB7 |
325,000 |
$299,737.30 |
1.17% |
| GS Mortgage Securities Trust Series 2017-GS6, Class A2, 3.164%, due 05/10/2050 |
|
36253PAB8 |
304,877 |
$300,242.84 |
1.17% |
| Hilton USA Trust Series 2025-NVIL, Class A, Variable rate, due 07/15/2042 |
|
432826AA3 |
300,000 |
$301,259.58 |
1.17% |
| Barclays Commercial Mortgage Securities LLC Series 2022-C16, Class A5, Variable rate, due 06/15/2055 |
|
05552YAE6 |
300,000 |
$298,616.91 |
1.16% |
| Hilton USA Trust Series 2016-HHV, Class A, 3.719%, due 11/05/2038 |
|
43300LAA8 |
300,000 |
$297,638.07 |
1.16% |
| Barclays Commercial Mortgage Securities LLC Series 2025-C35, Class XA, Variable rate, due 07/15/2058 |
|
07337DAH3 |
5,795,430 |
$295,249.35 |
1.15% |
| Bank Series 2021-BN31, Class XB, Variable rate, due 02/15/2054 |
|
06541ABN9 |
7,500,000 |
$293,412.53 |
1.14% |
| BENCHMARK Mortgage Trust Series 2020-B18, Class A5, 1.925%, due 07/15/2053 |
|
08163AAE3 |
329,000 |
$291,323.84 |
1.14% |
| HOUSTON GALLERIA MALL TRUST Series 2025-HGLR, Class A, Variable rate, due 02/05/2045 |
|
44216XAA3 |
280,000 |
$291,311.33 |
1.14% |
| Bank Series 2023-BNK46, Class XA, Variable rate, due 08/15/2056 |
|
06541DCD4 |
8,575,221 |
$289,530.35 |
1.13% |
| Morgan Stanley Capital I Trust Series 2018-L1, Class A3, 4.139%, due 10/15/2051 |
|
61691QAD0 |
290,000 |
$289,575.01 |
1.13% |
| SLG Office Trust Series 2021-OVA, Class A, 2.5854%, due 07/15/2041 |
|
78449RAA3 |
323,000 |
$289,732.81 |
1.13% |
| Bank Series 2021-BN33, Class A5, 2.556%, due 05/15/2064 |
|
06541CBL9 |
318,750 |
$288,278.52 |
1.12% |
| BMO Mortgage Trust Series 2025-C13, Class XA, Variable rate, due 10/15/2058 |
|
05592YAE8 |
3,669,819 |
$288,016.92 |
1.12% |
| SKY1 2025-LINE A Series 2025-LINE, Class A, Variable rate, due 04/15/2030 |
|
830941AA8 |
277,154 |
$278,790.02 |
1.09% |
| CHI Commercial Mortgage Trust Series 2025-SFT, Class A, Variable rate, due 04/15/2042 |
|
16706GAA5 |
270,000 |
$277,000.21 |
1.08% |
| BMO Mortgage Trust Series 2023-C5, Class ASB, 5.9949%, due 06/15/2056 |
|
055988AE9 |
260,000 |
$274,865.97 |
1.07% |
| JP Morgan Chase Commercial Mortgage Sec Trust Series 2019-COR5, Class XA, Variable rate, due 06/13/2052 |
|
46591EAY3 |
7,550,744 |
$273,625.37 |
1.07% |
| Manhattan West Series 2020-OMW, Class A, 2.13%, due 09/10/2040 |
|
563136AA8 |
287,000 |
$275,120.70 |
1.07% |
| NRTH PARK Mortgage Trust Series 2025-PARK, Class A, Variable rate, due 10/15/2040 |
|
669985AA1 |
275,000 |
$275,407.83 |
1.07% |
| Bank Series 2018-BN13, Class A4, 3.953%, due 08/15/2061 |
|
06539LBA7 |
274,021 |
$272,186.68 |
1.06% |
| Deutsche Bank Commercial Mortgage Trust Series 2020-C9, Class A5, 1.926%, due 08/15/2053 |
|
233063AT3 |
300,000 |
$267,902.49 |
1.04% |
| GS Mortgage Securities Trust Series 2019-GC39, Class XA, Variable rate, due 05/10/2052 |
|
36260JAF4 |
8,457,331 |
$264,483.58 |
1.03% |
| MSWF Commercial Mortgage Trust Series 2023-1, Class XA, Variable rate, due 05/15/2056 |
|
55376CAP8 |
5,345,526 |
$265,330.00 |
1.03% |
| BX Trust Series 2025-GW, Class A, Variable rate, due 07/15/2042 |
|
12433GAA4 |
260,000 |
$260,823.06 |
1.02% |
| JW Commercial Mortgage Trust Series 2024-BERY, Class A, Variable rate, due 11/15/2039 |
|
46676AAA1 |
260,000 |
$260,607.26 |
1.02% |
| BPR Trust Series 2023-STON, Class A, 7.497%, due 12/05/2039 |
|
05593GAA4 |
250,000 |
$259,457.80 |
1.01% |
| Hawaii Hotel Trust Series 2025-MAUI, Class A, Variable rate, due 03/15/2030 |
|
419909AA4 |
257,500 |
$257,997.75 |
1.01% |
| BX Trust Series 2025-VOLT, Class A, Variable rate, due 12/15/2044 |
|
05619PAA4 |
255,000 |
$255,469.38 |
1.00% |
| Barclays Commercial Mortgage Securities LLC Series 2018-TALL, Class A, Variable rate, due 03/15/2037 |
|
05548WAA5 |
268,000 |
$253,724.93 |
0.99% |
| BMO Mortgage Trust Series 2023-C6, Class ASB, 6.2118%, due 09/15/2056 |
|
055985AF2 |
235,000 |
$251,994.31 |
0.98% |
| Bank Series 2025-BNK49, Class XA, Variable rate, due 03/15/2058 |
|
05494FBY3 |
5,172,899 |
$245,173.69 |
0.96% |
| Wells Fargo Commercial Mortgage Trust Series 2021-C60, Class XA, Variable rate, due 08/15/2054 |
|
95003DBP2 |
3,911,922 |
$237,496.69 |
0.93% |
| Wells Fargo Commercial Mortgage Trust Series 2021-C59, Class XA, Variable rate, due 04/15/2054 |
|
95003CBU3 |
4,104,071 |
$233,396.06 |
0.91% |
| ILPT Commercial Mortgage Trust Series 2019-SURF, Class A, 4.145%, due 02/11/2041 |
|
44965LAA2 |
225,000 |
$221,099.87 |
0.86% |
| Bank Series 2019-BN19, Class XA, Variable rate, due 08/15/2061 |
|
06540WBH5 |
7,507,126 |
$213,516.93 |
0.83% |
| CSAIL Commercial Mortgage Trust Series 2015-C3, Class B, Variable rate, due 08/15/2048 |
|
12635FAY0 |
226,000 |
$212,621.25 |
0.83% |
| Arbor Multifamily Mortgage Securities Trust Series 2020-MF1, Class AS, Variable rate, due 05/15/2053 |
|
03881BAJ2 |
150,000 |
$140,273.07 |
0.55% |
| CALI Mortgage Trust Series 2024-SUN, Class A, Variable rate, due 07/15/2041 |
|
12988DAA0 |
134,000 |
$134,288.58 |
0.52% |
| IRV Trust Series 2025-200P, Class A, Variable rate, due 03/14/2047 |
|
45006HAA9 |
100,000 |
$103,058.33 |
0.40% |
| arbor multifamily mortgage securities trust Series 2021-NF3, Class XB, Variable rate, due 10/15/2054 |
|
03882KAQ5 |
3,791,000 |
$100,019.09 |
0.39% |
| CFCRE Commercial Mortgage Trust Series 2017-C8, Class XA, Variable rate, due 06/15/2050 |
|
12532CBE4 |
7,516,865 |
$100,837.99 |
0.39% |
| BENCHMARK Mortgage Trust Series 2024-V6, Class XA, Variable rate, due 10/15/2028 |
|
081927AC9 |
2,443,251 |
$94,254.27 |
0.37% |
| Bank Series 2019-BN23, Class XA, Variable rate, due 12/15/2052 |
|
06541RBC6 |
4,102,725 |
$93,332.89 |
0.36% |
| Bank Series 2020-BN26, Class XA, Variable rate, due 03/15/2063 |
|
06540JBM3 |
2,393,982 |
$89,869.62 |
0.35% |
| Freddie Mac Multiclass Certificates Series 2020-RR07, Class AX, Variable rate, due 09/27/2028 |
|
3137FRVC2 |
1,500,000 |
$82,069.35 |
0.32% |
| Bank Series 2019-BN21, Class XA, Variable rate, due 10/17/2052 |
|
06540BBE8 |
3,095,726 |
$77,737.71 |
0.30% |
| Wells Fargo Commercial Mortgage Trust Series 2018-C47, Class AS, Variable rate, due 09/15/2061 |
|
95002DBR9 |
76,100 |
$75,746.43 |
0.30% |
| BPR Trust Series 2021-WILL, Class A, Variable rate, due 06/15/2038 |
|
05591VAA3 |
68,565 |
$68,476.96 |
0.27% |
| FHLMC Multifamily Structured Pass Through Certs. Series K122, Class X1, Variable rate, due 11/25/2030 |
|
3137F82T9 |
1,612,167 |
$57,307.38 |
0.22% |
| FHLMC Multifamily Structured Pass Through Certs. Series K546, Class X1, Variable rate, due 05/25/2030 |
|
3137HN4T2 |
1,186,066 |
$41,959.57 |
0.16% |
| Bank Series 2018-BN10, Class XA, Variable rate, due 02/15/2061 |
|
065404BF1 |
2,872,762 |
$34,690.04 |
0.14% |
| Freddie Mac Multiclass Certificates Series 2020-RR05, Class X, 2.013%, due 01/27/2029 |
|
3137FRV24 |
160,000 |
$8,490.98 |
0.03% |
| FHLMC Multifamily Structured Pass Through Certs. Series KIR1, Class X, Variable rate, due 03/25/2026 |
|
3137BP7A1 |
488,108 |
$4.88 |
0.00% |
| US 10YR NOTE (CBT)Mar26 |
TYH6 |
|
19 |
$2,137,796.88 |
0.00% |
| US 10yr Ultra Fut Mar26 |
UXYH6 |
|
1 |
$115,093.75 |
0.00% |
| US 2YR NOTE (CBT) Mar26 |
TUH6 |
|
22 |
$4,587,515.64 |
0.00% |
| US 5YR NOTE (CBT) Mar26 |
FVH6 |
|
-9 |
($983,109.38) |
0.00% |
| US ULTRA BOND CBT Mar26 |
WNH6 |
|
-1 |
($118,656.25) |
0.00% |
| US Dollar |
$USD |
|
-158,540 |
($158,540.05) |
-0.62% |
Holdings are subject to change.
The holdings information set forth above for the date indicated reflects creation and redemption transactions from the prior business day and may differ from the holdings information currently available from the Fund's custodian and accounting agent. With respect to the market value of the Fund's holdings set forth above, the pricing sources are generally third party vendors. The Fund ultimately relies on pricing information provided by the Fund's accounting agent.
|
|