NPORT-P false 0000751173 XXXXXXXX S000003632 C000010098 C000206448 C000129800 Manning & Napier Fund, Inc. 811-04087 0000751173 549300B31SDCBSJSN672 290 Woodcliff Drive Fairport 14450 585-325-6880 Unconstrained Bond Series S000003632 5493008PRHULZPPT8B05 2025-12-31 2025-09-30 N 823073145.46 5345330.51 817727814.95 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 EUR GBP USD N Unconstrained Bond Series_Ex Derivatives BM N/A SMB Private Education Loan Tru N/A 83192CAB3 980363.20000000 PA USD 959707.70000000 0.117362731517 Long ABS-O CORP US N 2 2037-06-15 Fixed 2.84000000 N N N N N N Oxford Finance Credit Fund III N/A 69145DAA0 2700000.00000000 PA USD 2735928.90000000 0.334576964361 Long ABS-O CORP US N 2 2032-01-14 Fixed 6.67500000 N N N N N N Hawaii Hotel Trust N/A 419909AA4 4050000.00000000 PA USD 4050140.48000000 0.495292003763 Long ABS-MBS CORP US N 2 2042-03-15 Floating 5.54303000 N N N N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 000000000 -460.00000000 NC USD -482402.00000000 -0.05899297922 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Short US TREASURY N/B United States Treasury Note/Bond 2025-12-19 -52453537.80000000 USD -482402.00000000 N N N Sequoia Mortgage Trust N/A 81745BAB1 956259.55000000 PA USD 871503.17000000 0.106576192477 Long ABS-MBS CORP US N 2 2043-05-25 Variable 3.00000000 N N N N N N HTS Funding DE LLC N/A 40456GAA7 3650000.00000000 PA USD 3667525.11000000 0.448501939514 Long ABS-O CORP US N 2 2045-06-23 Fixed 5.35100000 N N N N N N MFRA Trust N/A 552732AA7 3100526.09000000 PA USD 2772427.24000000 0.339040349284 Long ABS-MBS CORP US N 2 2056-11-25 Variable 1.90600000 N N N N N N JP Morgan Mortgage Trust N/A 46592LAH3 7641258.95000000 PA USD 6897997.59000000 0.843556677893 Long ABS-MBS CORP US N 2 2051-08-25 Variable 2.50000000 N N N N N N BRAVO Residential Funding Trus N/A 10568LAL0 1737548.34000000 PA USD 1661483.20000000 0.203182913632 Long ABS-MBS CORP US N 2 2044-10-25 Variable 3.50000000 N N N N N N LEGAL BUSINESS SVC N/A 52474DAA7 4000000.00000000 PA USD 3996979.48000000 0.488790940814 Long DBT CORP US N 2 2026-06-15 Variable 9.00000000 N N N N N N Dreyfus Government Cash Management 5493000Q69I5Q3QZIA91 262006208 10270639.83000000 NS USD 10270639.83000000 1.255997367611 Long STIV RF US N 1 N N N PCG LLC N/A 70461JAA1 181192.10000000 PA USD 181175.10000000 0.022155917493 Long ABS-MBS CORP US N 2 2029-07-25 Floating 10.15791000 N N N N N N ALEXANDER FUND TRUST II N/A 014916AA8 8250000.00000000 PA USD 8821122.46000000 1.078735772310 Long DBT CORP US N 2 2028-07-31 Fixed 7.46700000 N N N N N N Navient Student Loan Trust N/A 63942TAB1 823381.23000000 PA USD 830876.63000000 0.101607969645 Long ABS-O CORP US N 2 2072-03-15 Floating 6.07208000 N N N N N N CONTSHIPS LOGISTICS CORP 5299008CWR6YALKEN578 000000000 4500000.00000000 PA USD 4548691.45000000 0.556259841825 Long DBT CORP MH N 2 2030-02-11 Fixed 9.00000000 N N N N N N PHH ESCROW ISS LCC/PHH C N/A 716964AA9 2000000.00000000 PA USD 2026657.94000000 0.247840161842 Long DBT CORP US N 2 2029-11-01 Fixed 9.87500000 N N N N N N College Ave Student Loans N/A 19424KAB9 1080791.76000000 PA USD 985205.24000000 0.120480827726 Long ABS-O CORP US N 2 2051-07-25 Fixed 1.60000000 N N N N N N ABERDEEN PRODUCTS INC N/A 000000000 3375000.00000000 PA USD 3053699.91000000 0.373437206631 Long DBT CORP US N 2 2028-04-07 Fixed 12.25000000 N N N N N N Metlife Securitization Trust N/A 59166EAA3 562747.63000000 PA USD 539708.57000000 0.066001004262 Long ABS-MBS CORP US N 2 2058-04-25 Variable 3.75000000 N N N N N N GS Mortgage-Backed Securities N/A 362924BK7 7209722.06000000 PA USD 6582571.73000000 0.804983224204 Long ABS-MBS CORP US N 2 2052-08-25 Variable 3.00000000 N N N N N N New Residential Mortgage Loan N/A 64829DAG1 170719.37000000 PA USD 164817.99000000 0.020155605200 Long ABS-MBS CORP US N 2 2054-11-25 Variable 3.75000000 N N N N N N GS Mortgage-Backed Securities N/A 36263NAQ8 3946032.10000000 PA USD 3656588.67000000 0.447164521390 Long ABS-MBS CORP US N 2 2052-05-28 Floating 5.00000000 N N N N N N Deephaven Residential Mortgage N/A 24381VAA8 5765029.92000000 PA USD 5067525.22000000 0.619708065123 Long ABS-MBS CORP US N 2 2066-08-25 Variable 1.19400000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 31418BBC9 77253.74000000 PA USD 77667.19000000 0.009497926887 Long ABS-MBS USGSE US N 2 2034-02-01 Fixed 4.50000000 N N N N N N Trinity Rail Leasing 2018 LLC 549300JQ2JIV94ZI1045 89657AAC0 1261163.50000000 PA USD 1196687.70000000 0.146343034701 Long ABS-O CORP US N 2 2050-10-17 Fixed 1.96000000 N N N N N N CoreVest American Finance Ltd N/A 21872NAA8 774550.31000000 PA USD 770881.93000000 0.094271212976 Long ABS-O CORP US N 2 2052-10-15 Fixed 2.70500000 N N N N N N Finance of America Structured 254900W0S6GNEJ457023 31741BAB0 4617943.87000000 PA USD 4462922.73000000 0.545771178185 Long ABS-MBS CORP US N 2 2075-02-25 Fixed 3.50000000 N N N N N N JP Morgan Seasoned Mortgage Tr N/A 46659PAG6 3851190.77000000 PA USD 3620921.14000000 0.442802736289 Long ABS-MBS CORP US N 2 2063-01-25 Variable 3.69191300 N N N N N N New York Mortgage Trust N/A 62955VAA4 1377406.22000000 PA USD 1299754.67000000 0.158947102720 Long ABS-MBS CORP US N 2 2061-07-25 Fixed 2.04240000 N N N N N N Gracie Point International Fun N/A 38411WAA0 3000000.00000000 PA USD 3005595.90000000 0.367554563395 Long ABS-O CORP US N 2 2028-08-15 Floating 5.87208000 N N N N N N EAGLE FUNDING LUXCO SARL 894500VDP08MVIZ6OA60 26951TAA8 4630000.00000000 PA USD 4700237.49000000 0.574792419197 Long DBT NUSS LU N 2 2030-08-17 Fixed 5.50000000 N N N N N N CF Hippolyta Issuer LLC N/A 12530MAA3 3670695.06000000 PA USD 3152918.19000000 0.385570618041 Long ABS-O CORP US N 2 2060-07-15 Fixed 1.69000000 N N N N N N NUSTAR LOGISTICS LP N62BF2PKP51FIIOIUN20 67059TAE5 927000.00000000 PA USD 933751.14000000 0.114188501715 Long DBT CORP US N 2 2027-04-28 Fixed 5.62500000 N N N N N N EDvestinU Private Education Lo N/A 28166GAA3 615510.65000000 PA USD 603139.08000000 0.073757926411 Long ABS-O CORP US N 2 2038-11-25 Fixed 3.58000000 N N N N N N BANK OF AMERICA CORP 9DJT3UXIJIZJI4WXO774 59022CAA1 3561000.00000000 PA USD 3577943.42000000 0.437546987467 Long DBT CORP US N 2 2026-09-15 Floating 5.05942000 N N N N N N Onslow Bay Financial LLC N/A 67448DAL4 2967183.83000000 PA USD 2863028.63000000 0.350120000525 Long ABS-MBS CORP US N 2 2062-01-25 Variable 2.78300000 N N N N N N WestJet Loyalty LP N/A 000000000 4925000.00000000 PA USD 4927659.50000000 0.602603875019 Long LON CORP CA N 2 2031-02-14 Floating 7.25150000 N N N N N N BROOGE PETROLEUM AND GAS 213800T6YBVV45KTOC07 000000000 8274632.00000000 PA USD 7870334.84000000 0.962463878091 Long DBT CORP AE N 2 2025-11-30 Fixed 8.50000000 N N N N N N Oxford Finance Funding Trust N/A 69145CAA2 3646220.82000000 PA USD 3668138.62000000 0.448576965701 Long ABS-O CORP US N 2 2031-02-15 Fixed 6.71600000 N N N N N N SUA 2025-1 LLC N/A 78485NAA7 4500000.00000000 PA USD 4532530.95000000 0.554283572985 Long ABS-MBS CORP US N 2 2040-05-25 Fixed 5.87500000 N N N N N N AMERICAN AIRLINES/AADVAN N/A 00253XAA9 5249999.04660000 PA USD 5252617.06000000 0.642342961064 Long DBT CORP N/A N 2 2026-04-20 Fixed 5.50000000 N N N N N N Starwood Retail Property Trust 5493007115G809OI4R97 85571XAA5 1533784.66000000 PA USD 941849.13000000 0.115178805561 Long ABS-MBS CORP US N 2 2027-11-15 Floating 7.50000000 N N N N N N ICAHN ENTERPRISES/FIN N/A 451102CK1 4000000.00000000 PA USD 4022087.93000000 0.491861455176 Long DBT CORP US N 2 2029-11-15 Fixed 10.00000000 N N N N N N Navient Student Loan Trust N/A 63942BAA2 502886.72000000 PA USD 460436.65000000 0.056306834814 Long ABS-O CORP US N 2 2069-05-15 Fixed 0.84000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3138WDJY8 221301.08000000 PA USD 219502.15000000 0.026842935508 Long ABS-MBS USGSE US N 2 2044-11-01 Fixed 4.50000000 N N N N N N Stonepeak N/A 78433XAA8 355281.46000000 PA USD 343266.55000000 0.041978093899 Long ABS-O CORP US N 2 2033-02-28 Fixed 2.30100000 N N N N N N THE BANCORP INC 894500FP2ICT1B019Y71 05969AAB1 2800000.00000000 PA USD 2873252.70000000 0.351370302864 Long DBT CORP US N 2 2030-09-01 Fixed 7.37500000 N N N N N N Navient Student Loan Trust N/A 63938EAC8 1915654.64000000 PA USD 1893900.59000000 0.231605254875 Long ABS-O CORP US N 2 2031-06-25 Floating 4.98051000 N N N N N N Goodgreen Trust N/A 38217TAA3 2348574.53000000 PA USD 1955111.97000000 0.239090799439 Long ABS-O CORP US N 2 2055-04-15 Fixed 2.63000000 N N N N N N Navient Student Loan Trust N/A 63942FAB1 3029892.76000000 PA USD 3050005.59000000 0.372985427942 Long ABS-O CORP US N 2 2069-06-25 Floating 5.52051000 N N N N N N UNITED AIR 2018-1 B PTT N/A 90932NAA1 2010842.05420000 PA USD 2003225.44000000 0.244974599539 Long DBT CORP US N 2 2026-03-01 Fixed 4.60000000 N N N N N N Pear LLC N/A 70472TAA6 530738.26000000 PA USD 528120.13000000 0.064583853006 Long ABS-O CORP US N 2 2034-01-15 Fixed 2.60000000 N N N N N N OXFORD FIN LLC/CO-ISS II N/A 69145LAC8 4500000.00000000 PA USD 4500271.57000000 0.550338570820 Long DBT CORP US N 2 2027-02-01 Fixed 6.37500000 N N N N N N Sequoia Mortgage Trust 549300DFASAA48I36408 81745CAB9 92051.49000000 PA USD 83888.99000000 0.010258791307 Long ABS-MBS CORP US N 2 2043-06-25 Variable 3.00000000 N N N N N N Finance of America Structured 2549004CLYOCOW3IBQ95 31739VAA2 4053002.24000000 PA USD 3955395.00000000 0.483705571424 Long ABS-O CORP US N 2 2074-04-25 Variable 3.50000000 N N N N N N Diamond Infrastructure Funding N/A 25265LAA8 5000000.00000000 PA USD 4795281.00000000 0.586415297649 Long ABS-O CORP US N 2 2049-04-15 Fixed 1.76000000 N N N N N N CLEAR STREET HOLDINGS 254900NQWA30C6L3G919 18469LAE9 4000000.00000000 PA USD 3982120.38000000 0.486973820285 Long DBT CORP US N 2 2030-09-30 Fixed 8.00000000 N N N N N N Towd Point Mortgage Trust N/A 89175VAA1 152350.91000000 PA USD 150266.36000000 0.018376085202 Long ABS-MBS CORP US N 2 2058-03-25 Variable 3.25000000 N N N N N N VELOCITY PORTFOLIO GROUP N/A 92257EAA4 4000000.00000000 PA USD 4097529.98000000 0.501087269515 Long DBT CORP US N 2 2033-03-01 Fixed 9.75000000 N N N N N N Sequoia Mortgage Trust 549300EU86QZR1NB5U93 81745EAA7 119511.04000000 PA USD 109182.11000000 0.013351888978 Long ABS-MBS CORP US N 2 2043-06-25 Variable 3.00000000 N N N N N N SBA TOWER TRUST N/A 78403DBD1 3630000.00000000 PA USD 3653447.26000000 0.446780358110 Long DBT CORP US N 2 2029-10-15 Fixed 4.83100000 N N N N N N CoreVest American Finance Ltd N/A 21873AAA5 119551.10000000 PA USD 119122.33000000 0.014567479278 Long ABS-O CORP US N 2 2052-12-15 Fixed 1.17400000 N N N N N N BGC GROUP INC 2549001IGRCG4F0RLD36 088929AB0 4460000.00000000 PA USD 4450240.59000000 0.544220278268 Long DBT CORP US N 2 2025-12-15 Fixed 4.37500000 N N N N N N Tricon American Homes N/A 89613GAC0 2500000.00000000 PA USD 2452345.70000000 0.299897552115 Long ABS-O CORP US N 2 2038-07-17 Fixed 2.24900000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3138XU4Y5 381676.33000000 PA USD 378762.40000000 0.046318884239 Long ABS-MBS USGSE US N 2 2044-06-01 Fixed 4.50000000 N N N N N N ECMC Group Student Loan Trust N/A 26827YAA9 7900000.00000000 PA USD 7899545.06000000 0.966035998235 Long ABS-O CORP US N 2 2074-11-25 Floating 5.31700000 N N N N N N CoreVest American Finance Ltd N/A 21873CAA1 87871.20000000 PA USD 86758.20000000 0.010609667228 Long ABS-O CORP US N 2 2053-08-15 Fixed 1.35800000 N N N N N N Imperial Fund LLC N/A 45276NAA9 7231268.19000000 PA USD 7202337.16000000 0.880774388289 Long ABS-MBS CORP US N 2 2067-06-25 Variable 4.76700000 N N N N N N JP Morgan Mortgage Trust N/A 46593FAH5 5499848.20000000 PA USD 4934699.76000000 0.603464828978 Long ABS-MBS CORP US N 2 2052-09-25 Variable 3.00000000 N N N N N N ECMC Group Student Loan Trust N/A 26828PAA7 3865096.06000000 PA USD 3901114.45000000 0.477067598616 Long ABS-O CORP US N 2 2073-11-27 Floating 5.50603000 N N N N N N USQ Rail N/A 90354PAA5 5052175.72000000 PA USD 4843017.63000000 0.592253013956 Long ABS-O CORP US N 2 2051-06-28 Fixed 2.21000000 N N N N N N Pear LLC N/A 70473AAA6 4789498.03000000 PA USD 4898505.57000000 0.599038638584 Long ABS-O CORP US N 2 2035-07-15 Fixed 7.42000000 N N N N N N Imperial Fund LLC N/A 45276KAA5 3162766.73000000 PA USD 3125555.41000000 0.382224421483 Long ABS-MBS CORP US N 2 2067-05-25 Variable 4.38000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3136B1YD0 26584.58000000 PA USD 26368.02000000 0.003224547278 Long ABS-MBS USGSE US N 2 2047-07-25 Fixed 3.50000000 N N N N N N SBA TOWER TRUST N/A 78403DAZ3 6110000.00000000 PA USD 6273633.13000000 0.767203098060 Long DBT CORP US N 2 2028-01-15 Fixed 6.59900000 N N N N N N LEGRES AB 5493004FBCZN6ATKYD40 000000000 32500000.00000000 PA 2761726.72000000 0.337731781836 Long DBT CORP SE N 2 2025-12-30 Floating 11.10700000 N N N N N N SLM Student Loan Trust N/A 78446WAC1 5315830.41000000 PA USD 5290381.92000000 0.646961228819 Long ABS-O CORP US N 2 2028-09-25 Floating 5.42051000 N N N N N N RUN NQM TRUST N/A 74981CAA9 2644388.53000000 PA USD 2647190.89000000 0.323725186009 Long ABS-MBS CORP US N 2 2067-03-25 Fixed 4.00000000 N N N N N N JP Morgan Mortgage Trust N/A 46652VAE5 3815618.32000000 PA USD 3010095.76000000 0.368104851635 Long ABS-MBS CORP US N 2 2051-08-25 Variable 2.00000000 N N N N N N AIRBORNE CAPITAL USA LLC N/A 009263AA2 4000000.00000000 PA USD 3326938.96000000 0.406851631945 Long DBT CORP US N 2 2029-08-02 Fixed 10.50000000 N N N N N N Navient Student Loan Trust N/A 63942NAA6 3258557.07000000 PA USD 2919374.41000000 0.357010530475 Long ABS-O CORP US N 2 2069-12-26 Fixed 1.31000000 N N N N N N ALLO Issuer, LLC N/A 01983KAA2 4400000.00000000 PA USD 4466281.26000000 0.546181893087 Long ABS-O CORP US N 2 2053-06-20 Fixed 6.20000000 N N N N N N Oxford Finance Credit Fund III N/A 69145VAA0 3400000.00000000 PA USD 3437716.20000000 0.420398589500 Long ABS-O CORP US N 2 2034-08-14 Fixed 5.87800000 N N N N N N Capteris Equipment Finance N/A 14077AAB2 2964008.85000000 PA USD 3019538.37000000 0.369259589168 Long ABS-O CORP US N 2 2032-07-20 Fixed 5.58000000 N N N N N N Tricon Residential N/A 895975AA8 2986776.89000000 PA USD 2955468.39000000 0.361424466181 Long ABS-O CORP US N 2 2041-11-17 Fixed 4.30000000 N N N N N N Cogent IPv4 LLC N/A 19240JAA6 2380000.00000000 PA USD 2473001.36000000 0.302423534431 Long ABS-O CORP US N 2 2054-05-25 Fixed 7.92400000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3140XKP95 6409968.63000000 PA USD 6078879.49000000 0.743386659822 Long ABS-MBS USGSE US N 2 2042-12-01 Fixed 3.50000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3133KYZ51 6020049.36000000 PA USD 6149564.70000000 0.752030759816 Long ABS-MBS USGSE US N 2 2043-11-01 Fixed 5.50000000 N N N N N N COMMONBOND STUDENT LOAN TRUST N/A 20268CAA6 1210051.47000000 PA USD 1122286.97000000 0.137244563469 Long ABS-O CORP US N 2 2047-01-25 Fixed 2.54000000 N N N N N N DataBank Issuer LLC N/A 23802WAA9 5200000.00000000 PA USD 5133665.63000000 0.627796381160 Long ABS-O CORP US N 2 2051-02-27 Fixed 2.06000000 N N N N N N CF Hippolyta Issuer LLC N/A 12530MAC9 1798904.00000000 PA USD 1253194.06000000 0.153253201993 Long ABS-O CORP US N 2 2060-07-15 Fixed 2.28000000 N N N N N N Credit Suisse Mortgage Trust N/A 22944PAA5 96042.48000000 PA USD 84766.20000000 0.010366065388 Long ABS-MBS CORP US N 2 2043-02-25 Variable 2.13000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 31418ELX6 7212256.83000000 PA USD 7189103.10000000 0.879155994032 Long ABS-MBS USGSE US N 2 2052-12-01 Fixed 5.00000000 N N N N N N Navient Student Loan Trust N/A 63939RAA2 2385083.44000000 PA USD 2401329.66000000 0.293658796496 Long ABS-O CORP US N 2 2066-12-27 Floating 5.52051000 N N N N N N US TREASURY FRN 254900HROIFWPRGM1V77 91282CLT6 22948000.00000000 PA USD 22950711.03000000 2.806644290484 Long DBT UST US N 2 2026-10-31 Floating 4.10345610 N N N N N N CHICAGO MERCANTILE EXCHANGE INC. SNZ2OJLFK8MNNCLQOF39 000000000 240.00000000 NC USD -58888.80000000 -0.00720151606 N/A DFE CORP US N 1 CHICAGO MERCANTILE EXCHANGE INC. SNZ2OJLFK8MNNCLQOF39 Long JAPANESE YEN CURRENCY JAPANESE YEN CURRENCY 2025-12-15 20500888.80000000 USD -58888.80000000 N N N JP Morgan Mortgage Trust N/A 46592EBC9 3094877.92000000 PA USD 2875806.06000000 0.351682553463 Long ABS-MBS CORP US N 2 2051-06-25 Floating 4.99839000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3128E5VC0 124150.20000000 PA USD 124842.92000000 0.015267050688 Long ABS-MBS USGSE US N 2 2031-07-01 Fixed 4.50000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3133C7AH0 6951985.92000000 PA USD 7175474.58000000 0.877489361229 Long ABS-MBS USGSE US N 2 2053-07-01 Fixed 6.00000000 N N N N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 000000000 1000.00000000 NC USD -56640.20000000 -0.00692653459 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Long US TREASURY N/B United States Treasury Note/Bond 2025-12-31 208455078.20000000 USD -56640.20000000 N N N BX Trust N/A 05612TAA3 5100000.00000000 PA USD 5099351.54000000 0.623600108345 Long ABS-MBS CORP US N 2 2041-06-15 Floating 5.64156500 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 31417YDV6 11513.28000000 PA USD 11537.77000000 0.001410954817 Long ABS-MBS USGSE US N 2 2029-07-01 Fixed 4.50000000 N N N N N N SLM CORP N/A 78442PGF7 4325000.00000000 PA USD 4508291.99000000 0.551319388625 Long DBT CORP US N 2 2030-01-31 Fixed 6.50000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3133KQDM5 6044889.41000000 PA USD 6031436.82000000 0.737584891907 Long ABS-MBS USGSE US N 2 2053-01-01 Fixed 5.00000000 N N N N N N SBA TOWER TRUST N/A 78403DAP5 2750000.00000000 PA USD 2729137.68000000 0.333746465523 Long DBT CORP US N 2 2026-01-15 Fixed 1.88400000 N N N N N N Trinity Rail Leasing L.P. N/A 89656GAA2 1658621.02000000 PA USD 1553708.99000000 0.190003196857 Long ABS-O CORP US N 2 2051-07-19 Fixed 2.26000000 N N N N N N Wells Fargo Mortgage Backed Se N/A 95002KAA1 2020209.07000000 PA USD 1778559.86000000 0.217500227763 Long ABS-MBS CORP US N 2 2049-12-25 Variable 3.00000000 N N N N N N SLAM 2021-1 LLC N/A 78449AAA0 4693120.00000000 PA USD 4426617.90000000 0.541331457615 Long ABS-O CORP US N 2 2046-06-15 Fixed 2.43400000 N N N N N N DRAWBRIDGE SPEC OPPOR FU N/A 26150TAF6 4000000.00000000 PA USD 3904264.87000000 0.477452863730 Long DBT CORP US N 2 2030-09-17 Fixed 5.95000000 N N N N N N Flexential Issuer, LLC N/A 33938MAA7 4760000.00000000 PA USD 4622323.63000000 0.565264327016 Long ABS-O CORP US N 2 2051-11-27 Fixed 3.25000000 N N N N N N SLM Student Loan Trust N/A 78447KAC6 8498500.55000000 PA USD 8358267.00000000 1.022133141027 Long ABS-O CORP US N 2 2026-05-26 Floating 5.12051000 N N N N N N New Residential Mortgage Loan N/A 64831MAA0 7520606.86000000 PA USD 7096277.76000000 0.867804375767 Long ABS-MBS CORP US N 2 2062-03-27 Variable 3.07900000 N N N N N N F&G ANNUITIES & LIFE INC N/A 30190AAF1 3039000.00000000 PA USD 3170325.78000000 0.387699393617 Long DBT CORP US N 2 2029-06-04 Fixed 6.50000000 N N N N N N Golub Capital Partners Funding N/A 38179VAC0 4000000.00000000 PA USD 4000516.00000000 0.489223422129 Long ABS-O CORP US N 2 2034-01-25 Fixed 6.88500000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 9128283F5 79974000.00000000 PA USD 77755971.09000000 9.508783933778 Long DBT UST US N 2 2027-11-15 Fixed 2.25000000 N N N N N N US TREASURY FRN 254900HROIFWPRGM1V77 91282CNQ0 16925000.00000000 PA USD 16914501.62000000 2.068475758163 Long DBT UST US N 2 2027-07-31 Floating 4.05745610 N N N N N N Centersquare Issuer LLC N/A 15201EAA2 6000000.00000000 PA USD 5947684.25000000 0.727342783413 Long ABS-O CORP US N 2 2054-10-26 Fixed 5.20000000 N N N N N N Towd Point Mortgage Trust N/A 89177EAA7 538668.21000000 PA USD 539235.75000000 0.065943183066 Long ABS-MBS CORP US N 2 2048-10-25 Floating 5.27239000 N N N N N N KREF 2021-FL2 Ltd 54930083ELM2GCMVTQ91 48275RAC1 3500000.00000000 PA USD 3430011.55000000 0.419456387234 Long ABS-CBDO CORP KY N 2 2039-02-15 Floating 5.55736000 N N N N N N Hotwire Funding LLC 254900ZCO90MCT7Y9348 44148JAA7 3500000.00000000 PA USD 3409738.05000000 0.416977139295 Long ABS-O CORP US N 2 2051-11-20 Fixed 2.31100000 N N N N N N BrightSpire Capital, Inc N/A 05591XAA9 1098800.24000000 PA USD 1097421.47000000 0.134203759482 Long ABS-CBDO CORP KY N 2 2038-08-19 Floating 5.39807000 N N N N N N PALOMINO FUNDING TRUST I N/A 69754AAA8 1105000.00000000 PA USD 1172785.95000000 0.143420087779 Long DBT CORP US N 2 2028-05-17 Fixed 7.23300000 N N N N N N CHICAGO MERCANTILE EXCHANGE INC. SNZ2OJLFK8MNNCLQOF39 000000000 140.00000000 NC USD 210823.20000000 0.025781586017 N/A DFE CORP US N 1 CHICAGO MERCANTILE EXCHANGE INC. SNZ2OJLFK8MNNCLQOF39 Long EURO FX CURRENCY EURO FX CURRENCY 2025-12-15 20425176.80000000 USD 210823.20000000 N N N Brean Asset Backed Securities N/A 10638MAA8 2194775.49000000 PA USD 2129045.48000000 0.260361142311 Long ABS-MBS CORP US N 2 2061-10-25 Variable 1.75000000 N N N N N N FS Rialto Issuer Ltd N/A 30319YAA6 1419020.87000000 PA USD 1418942.68000000 0.173522614011 Long ABS-CBDO CORP US N 2 2038-05-16 Floating 5.48141000 N N N N N N Lyra MUSIC Assets (Delaware) L 9845007N9EAB0C048A12 552339AA1 3994267.30000000 PA USD 4051219.96000000 0.495424013459 Long ABS-O CORP US N 2 2064-12-22 Fixed 5.76000000 N N N N N N SMB Private Education Loan Tru N/A 83207QAB5 4518191.38000000 PA USD 4493016.21000000 0.549451312265 Long ABS-O CORP US N 2 2053-07-15 Floating 5.47376000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3142GQB84 7526057.00000000 PA USD 7538209.09000000 0.921848193516 Long ABS-MBS USGSE US N 2 2053-10-01 Fixed 5.00000000 N N N N N N ENCORE CAPITAL GROUP INC 5493000UVC6H49CIH830 292554AS1 4000000.00000000 PA USD 3987056.49000000 0.487577457572 Long DBT CORP US N 2 2031-04-15 Fixed 6.62500000 N N N N N N Switch ABS Issuer, LLC N/A 871044AE3 4000000.00000000 PA USD 4016163.21000000 0.491136920693 Long ABS-O CORP US N 2 2054-06-25 Fixed 5.43600000 N N N N N N ARBOR REALTY SR INC 549300TW7RTL2CI3CN08 03881NAG2 4000000.00000000 PA USD 3963123.04000000 0.484650634055 Long DBT CORP US N 2 2027-10-15 Fixed 9.00000000 N N N N N N Oasis Securitisation N/A 53161XAA9 5000000.00000000 PA USD 4990580.50000000 0.610298489150 Long ABS-O CORP US N 2 2038-09-30 Fixed 5.88000000 N N N N N N United Wholesale Mortgage LLC N/A 91824NBL5 2120618.76000000 PA USD 1750454.52000000 0.214063223483 Long ABS-MBS CORP US N 2 2051-06-25 Variable 2.50000000 N N N N N N Navient Student Loan Trust N/A 63941UAA1 298005.34000000 PA USD 279103.01000000 0.034131529452 Long ABS-O CORP US N 2 2069-09-16 Fixed 1.17000000 N N N N N N Store Master Funding I - VII, N/A 86212XAA8 2349168.99000000 PA USD 2293986.74000000 0.280531822210 Long ABS-O CORP US N 2 2049-11-20 Fixed 2.82000000 N N N N N N NAVIENT CORP 54930067J0ZNOEBRW338 63938CAJ7 4000000.00000000 PA USD 4043754.92000000 0.494511113119 Long DBT CORP US N 2 2026-06-15 Fixed 6.75000000 N N N N N N Brean Asset Backed Securities N/A 10637YAA3 3527923.12000000 PA USD 3466663.91000000 0.423938607275 Long ABS-MBS CORP US N 2 2064-05-25 Fixed 4.50000000 N N N N N N SWCH Commercial Mortgage Trust N/A 78489CAA7 3500000.00000000 PA USD 3479783.17000000 0.425542962631 Long ABS-MBS CORP US N 2 2042-02-15 Floating 5.59306000 N N N N N N GS Mortgage-Backed Securities N/A 36263TAF9 4222735.70000000 PA USD 3776552.27000000 0.461834879645 Long ABS-MBS CORP US N 2 2052-04-25 Variable 2.50000000 N N N N N N CARNIVAL CORP F1OF2ZSX47CR0BCWA982 693070AD6 800000.00000000 PA USD 839999.85000000 0.102723648950 Long DBT CORP PA N 2 2027-06-01 Fixed 7.87500000 N N N N N N New Residential Mortgage Loan N/A 64830DAB9 1094696.27000000 PA USD 1071565.81000000 0.131041868750 Long ABS-MBS CORP US N 2 2057-12-25 Variable 4.25000000 N N N N N N Brean Asset Backed Securities N/A 10638GAA1 2992914.78000000 PA USD 2937100.51000000 0.359178256664 Long ABS-MBS CORP US N 2 2065-05-25 Variable 4.75000000 N N N N N N INTERNATIONAL SEAWAYS IN 549300YUFDGFRNGBWF46 46032VAC0 4000000.00000000 PA USD 3978359.36000000 0.486513884848 Long DBT CORP MH N 2 2030-09-23 Fixed 7.12500000 N N N N N N DataBank Issuer LLC N/A 23802WAL5 3345000.00000000 PA USD 3338047.50000000 0.408210096192 Long ABS-O CORP US N 2 2053-02-25 Fixed 5.11600000 N N N N N N Navient Student Loan Trust N/A 63942TAA3 352877.67000000 PA USD 362556.21000000 0.044337027965 Long ABS-O CORP US N 2 2072-03-15 Fixed 6.48000000 N N N N N N ICE FUTURES EUROPE 549300UF4R84F48NCH34 000000000 350.00000000 NC 211280.43000000 0.025837500710 N/A DIR CORP GB N 1 ICE FUTURES EUROPE 549300UF4R84F48NCH34 Long UNITED KINGDOM GILT United Kingdom Gilt 2025-12-29 42584852.61000000 USD 211280.43000000 N N N EUREX CLEARING AKTIENGESELLSCHAFT 529900LN3S50JPU47S06 000000000 -350.00000000 NC -46080.29000000 -0.00563516235 N/A DIR CORP DE N 1 EUREX CLEARING AKTIENGESELLSCHAFT 529900LN3S50JPU47S06 Short BUNDESREPUB. DEUTSCHLAND Bundesrepublik Deutschland Bundesanleihe 2025-12-08 -52122418.98000000 USD -46080.29000000 N N N Onslow Bay Financial LLC 254900UI1468MQ7I8472 67448LAA0 2614887.66000000 PA USD 2629481.06000000 0.321559449480 Long ABS-MBS CORP US N 2 2063-11-25 Variable 5.92800000 N N N N N N NORTHWEST ACQ/DOMINION N/A 66727WAA0 5870000.00000000 PA USD 58.70000000 0.000007178427 Long DBT CORP CA N 2 2022-11-01 Fixed 7.12500000 Y N N N N N Navient Student Loan Trust 549300GZIQGXPYGM8M95 63939KAC3 657287.38000000 PA USD 658953.37000000 0.080583460407 Long ABS-O CORP US N 2 2040-07-16 Floating 5.71464000 N N N N N N GCAT N/A 36168MAA1 7741127.35000000 PA USD 7603887.48000000 0.929880009091 Long ABS-MBS CORP US N 2 2067-04-25 Variable 4.34800000 N N N N N N BORR IHC LTD / BORR FIN N/A 100018AA8 3382926.83194000 PA USD 3366119.39000000 0.411643009869 Long DBT CORP N/A N 2 2028-11-15 Fixed 10.00000000 N N N N N N COLT Funding LLC N/A 19688GAA1 6506495.90000000 PA USD 5574007.96000000 0.681645879973 Long ABS-MBS CORP US N 2 2066-10-25 Variable 1.39700000 N N N N N N Finance of America Structured N/A 31740XAA5 3906905.99000000 PA USD 3887772.31000000 0.475435987246 Long ABS-MBS CORP US N 2 2061-07-25 Fixed 3.00000000 N N N N N N PELORUS FUND REIT LLC N/A 70615PAA2 4345000.00000000 PA USD 4328598.25000000 0.529344626764 Long DBT CORP US N 2 2026-09-30 Fixed 7.00000000 N N N N N N Winwater Mortgage Loan Trust 5493006H0W2XGUBIBK91 97652TAA1 65134.04000000 PA USD 60999.17000000 0.007459593386 Long ABS-MBS CORP US N 2 2045-01-20 Variable 3.50000000 N N N N N N Hotwire Funding LLC 254900ZCO90MCT7Y9348 44148JAH2 1000000.00000000 PA USD 1015780.41000000 0.124219867715 Long ABS-O CORP US N 2 2054-06-20 Fixed 5.89300000 N N N N N N NORTH INVST GROUP 254900NLPIHD51XJYE02 000000000 23750000.00000000 PA 1387502.12000000 0.169677745410 Long DBT CORP SE N 2 2027-12-31 Floating 0.01000000 N N N N N N CIM Trust N/A 12555DAA3 35279.92000000 PA USD 33745.45000000 0.004126733783 Long ABS-MBS CORP US N 2 2049-02-25 Variable 4.00000000 N N N N N N Navient Student Loan Trust N/A 63942MAA8 2350124.20000000 PA USD 2152084.82000000 0.263178625045 Long ABS-O CORP US N 2 2070-07-15 Fixed 2.23000000 N N N N N N FIVE POINT OPERATING CO N/A 33834YAC2 4000000.00000000 PA USD 4059632.20000000 0.496452746963 Long DBT CORP US N 2 2030-10-01 Fixed 8.00000000 N N N N N N Hageman Capital 2025 Issuer Tr N/A 405033AA9 3230000.00000000 PA USD 3231009.38000000 0.395120395922 Long ABS-O CORP US N 2 2056-08-09 Fixed 6.40000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3128P75F6 99979.40000000 PA USD 100564.94000000 0.012298094569 Long ABS-MBS USGSE US N 2 2033-12-01 Fixed 4.50000000 N N N N N N SP CRUISES INTERMEDIATE 2549001UGAS65A7Y0678 000000000 4000000.00000000 PA USD 3791790.27000000 0.463698335885 Long DBT CORP BM N 2 2030-03-14 Fixed 11.50000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 31416CJV9 140279.12000000 PA USD 147963.61000000 0.018094481720 Long ABS-MBS USGSE US N 2 2038-11-01 Fixed 6.00000000 N N N N N N Fontainebleau Miami Beach Trus N/A 34461WAA8 5000000.00000000 PA USD 4999858.90000000 0.611433145429 Long ABS-MBS CORP US N 2 2039-12-15 Floating 5.60016000 N N N N N N Imperial Fund LLC N/A 45276PAA4 5513416.13000000 PA USD 5252075.73000000 0.642276761775 Long ABS-MBS CORP US N 2 2067-03-25 Variable 3.63800000 N N N N N N Sutherland Commercial Mortgage N/A 86935CAA0 1407740.72000000 PA USD 1346523.71000000 0.164666492368 Long ABS-MBS CORP US N 2 2041-04-25 Variable 2.86000000 N N N N N N Horizon Aircraft Finance N/A 43990EAA9 7030000.00000000 PA USD 7096653.54000000 0.867850329933 Long ABS-O CORP KY N 2 2049-09-15 Fixed 5.37500000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3128M73H7 25655.66000000 PA USD 27094.65000000 0.003313406919 Long ABS-MBS USGSE US N 2 2040-03-01 Fixed 6.00000000 N N N N N N UNITED AIR 2019-2 B PTT N/A 90932KAA7 2128918.19730000 PA USD 2057964.61000000 0.251668657024 Long DBT CORP US N 2 2028-05-01 Fixed 3.50000000 N N N N N N SLM Student Loan Trust 549300OORAXMFXOHG132 78444GAC8 3314125.56000000 PA USD 3317905.82000000 0.405746968531 Long ABS-O CORP US N 2 2021-10-25 Floating 5.60225000 N N N N N N Woodward Capital Management N/A 74939KAE6 4211331.69000000 PA USD 3730719.40000000 0.456229974301 Long ABS-MBS CORP US N 2 2051-12-25 Variable 2.50000000 N N N N N N FHLMC Multifamily Structured P S6XOOCT0IEG5ABCC6L87 3137FRUV1 50292788.76000000 PA USD 2371253.18000000 0.289980741347 Long ABS-MBS USGSE US N 2 2030-01-25 Variable 1.43733400 N N N N N N Morgan Stanley Residential Mor N/A 61772MAH2 8953619.20000000 PA USD 8022349.65000000 0.981053781384 Long ABS-MBS CORP US N 2 2051-07-25 Variable 2.50000000 N N N N N N ROCC Trust N/A 74970WAA8 4250000.00000000 PA USD 4377331.56000000 0.535304227148 Long ABS-MBS CORP US N 2 2041-11-13 Fixed 5.38834000 N N N N N N OPEN INFRA US ASSETS AB N/A 000000000 3800000.00000000 PA USD 3778654.13000000 0.462091916273 Long DBT CORP SE N 2 2027-02-22 Fixed 11.00000000 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3140FTWF4 76401.99000000 PA USD 75691.63000000 0.009256335496 Long ABS-MBS USGSE US N 2 2047-02-01 Fixed 4.50000000 N N N N N N TRP LLC N/A 87267CAA6 2576130.22000000 PA USD 2466840.35000000 0.301670104024 Long ABS-O CORP US N 2 2051-06-19 Fixed 2.07000000 N N N N N N JP Morgan Mortgage Trust N/A 46654VAA1 4033198.12000000 PA USD 3326659.67000000 0.406817477549 Long ABS-MBS CORP US N 2 2052-05-25 Variable 2.51950000 N N N N N N JP Morgan Mortgage Trust 549300BV8AJIRLDGMR51 46641YAA1 109459.77000000 PA USD 107369.21000000 0.013130189292 Long ABS-MBS CORP US N 2 2029-06-25 Variable 3.00000000 N N N N N N Aligned Data Centers Issuer LL N/A 01627AAA6 4500000.00000000 PA USD 4394257.50000000 0.537374101707 Long ABS-O CORP US N 2 2046-08-15 Fixed 1.93700000 N N N N N N Oxford Finance Funding Trust N/A 69145BAA4 2546639.23000000 PA USD 2524612.33000000 0.308735044087 Long ABS-O CORP US N 2 2030-02-15 Fixed 3.60200000 N N N N N N ACG HOLDCO 1 PLC 9845008FS09985054W54 000000000 4050000.00000000 PA USD 4409064.19000000 0.539184813013 Long DBT CORP GB N 2 2029-01-13 Fixed 14.75000000 N N N N N N New Residential Mortgage Loan N/A 64829EAA2 229964.28000000 PA USD 223797.12000000 0.027368167733 Long ABS-MBS CORP US N 2 2055-08-25 Variable 3.75000000 N N N N N N US CLAIMS LIT FNDG LLC N/A 91735CAB0 1375000.00000000 PA USD 1177831.47000000 0.144037104824 Long DBT CORP US N 2 2028-03-17 Fixed 10.25000000 N N N N N N Pear LLC N/A 70472XAB5 1647137.86000000 PA USD 1669138.85000000 0.204119123684 Long ABS-O CORP US N 2 2034-10-15 Fixed 7.25000000 N N N N N N GCAT N/A 36169HAA1 3063761.02000000 PA USD 3092761.22000000 0.378214017360 Long ABS-MBS CORP US N 2 2059-01-25 Variable 6.00700000 N N N N N N Waikiki Beach Hotel Trust N/A 92943QAA7 3650000.00000000 PA USD 3651053.70000000 0.446487649466 Long ABS-MBS CORP US N 2 2042-06-15 Floating 5.89244000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 9128285M8 82777000.00000000 PA USD 81515944.14000000 9.968591339281 Long DBT UST US N 2 2028-11-15 Fixed 3.12500000 N N N N N N GS Mortgage-Backed Securities N/A 36263CAH2 2678387.72000000 PA USD 2399224.35000000 0.293401337968 Long ABS-MBS CORP US N 2 2052-02-26 Variable 2.50000000 N N N N N N NEW FORTRESS ENERGY INC 254900EICTYTCHA5X705 644393AC4 4195000.00000000 PA USD 701347.82000000 0.085767881094 Long DBT CORP US N 2 2029-03-15 Fixed 8.75000000 N N N N N N Freddie Mac S6XOOCT0IEG5ABCC6L87 3128P7QL0 36730.50000000 PA USD 36924.02000000 0.004515441363 Long ABS-MBS USGSE US N 2 2031-02-01 Fixed 4.50000000 N N N N N N Sequoia Mortgage Trust N/A 81745MAA9 90242.76000000 PA USD 78607.32000000 0.009612895460 Long ABS-MBS CORP US N 2 2043-02-25 Variable 1.87400000 N N N N N N JP Morgan Mortgage Trust N/A 46653XAH3 2567468.23000000 PA USD 2315964.09000000 0.283219434102 Long ABS-MBS CORP US N 2 2051-12-25 Variable 2.50000000 N N N N N N NEWCASTLE COAL INFRASTRU 549300YAJ8XYYGW2TZ32 65106WAA3 1700661.67120000 PA USD 1691115.96000000 0.206806706226 Long DBT CORP AU N 2 2027-09-29 Fixed 4.40000000 N N N N N N Stack Infrastructure Issuer LL 254900AV7V87H3A2WM57 85236KAE2 3400000.00000000 PA USD 3351487.03000000 0.409853617392 Long ABS-O CORP US N 2 2046-03-26 Fixed 1.87700000 N N N N N N SLM Student Loan Trust 549300EQOYJZL2D96G46 78445AAD8 1769553.84000000 PA USD 1792597.18000000 0.219216852750 Long ABS-O CORP US N 2 2022-07-25 Floating 6.25225000 N N N N N N JP Morgan Seasoned Mortgage Tr N/A 61777HAH8 4276265.32000000 PA USD 4188168.27000000 0.512171433260 Long ABS-MBS CORP US N 2 2063-01-25 Variable 4.41484800 N N N N N N Fannie Mae B1V7KEBTPIMZEU4LTD58 3140XM3Q7 7075404.96000000 PA USD 7208678.12000000 0.881549824796 Long ABS-MBS USGSE US N 2 2053-10-01 Fixed 5.50000000 N N N N N N Bourzou Issuer LLC, Jamshid Is N/A 102104AA4 8250000.00000000 PA USD 8347276.94000000 1.020789165709 Long ABS-O CORP US N 2 2049-11-22 Fixed 5.78100000 N N N N N N GOLDEN PEAR FUND HOLDCO N/A 38116FAB3 1200000.00000000 PA USD 1279089.36000000 0.156419940304 Long DBT CORP US N 2 2028-03-02 Fixed 10.00000000 N N N N N N Pear LLC N/A 704933AA8 2297101.40000000 PA USD 2320116.06000000 0.283727178846 Long ABS-O CORP US N 2 2036-02-15 Fixed 6.95000000 N N N N N N IIP OPERATING PARTNER N/A 44988FAD2 4320000.00000000 PA USD 4278052.58000000 0.523163392731 Long DBT CORP US N 2 2026-05-25 Fixed 5.50000000 N N N N N N ARBOR REALTY TRUST INC 549300ASFUWYQO0RW077 038923AW8 9506000.00000000 PA USD 9380493.69000000 1.147141324839 Long DBT CORP US N 2 2026-04-30 Fixed 5.00000000 N N N N N N READYCAP HOLDINGS LLC 549300W908MAGNC9E420 755763AE9 4250000.00000000 PA USD 4227024.91000000 0.516923214879 Long DBT CORP US N 2 2028-03-01 Fixed 9.37500000 N N N N N N 2025-11-24 Manning & Napier Fund, Inc. Jill Peeper Jill Peeper Principal Financial Officer and Treasurer XXXX