FARM CREDIT BK OF TEXAS JR SUBORDINA 144A VAR

NPORT-P false 0000810893 XXXXXXXX S000048447 C000152877 C000152878 C000152874 C000200467 C000152873 PIMCO Funds 811-05028 0000810893 5493003B5Y5GR0Y25Y76 650 Newport Center Drive Newport Beach 92660 (888) 877-4626 PIMCO Preferred and Capital Securities Fund S000048447 5493000QG7HX2Z070R94 2026-03-31 2025-09-30 N 858911676.340000 48932287.820000 809979388.520000 0.000000 0.000000 38912793.310000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 5200000.000000 0.000000 0.000000 9171147.950000 GBP EUR USD N ICE BofA 70% Constrained Preferred & Junior Subordinated Securities and 30% Contingent Capital Index P8CO FARM CREDIT BANK OF TEXAS V1EBJIOLRNYDHDF63Z33 FARM CREDIT BK OF TEXAS JR SUBORDINA 144A VAR 30767EAC3 7000000.000000 NS USD 6979070.000000 0.861636 Long EP USGSE US N 2 N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC 125623.440000 0.0155095 N/A DFE GB N 2 STATE STREET CORPORATION 549300ZFEEJ2IP5VME73 41645000.000000 GBP 56133961.820000 USD 2025-10-02 125623.440000 N N N UNITED STATES GOVT 254900HROIFWPRGM1V77 TREASURY BILL 12/25 0.00000 912797QY6 975000.000000 PA USD 967606.390000 0.119461 Long DBT UST US N 2 2025-12-11 None 0 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 MORGAN STANLEY JR SUBORDINA VAR 61745VAB9 3600000.000000 NS USD 3624084.000000 0.447429 Long EP CORP US N 2 N N N BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) K8MS7FD7N5Z2WQ51AZ71 BANCO BILBAO VIZCAYA ARG JR SUBORDINA 12/99 VAR 05946KAM3 1200000.000000 PA USD 1340831.410000 0.165539 Long DBT CORP ES N 2 2029-03-19 Floating 9.375 N N N N Y BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) BANCO BILBAO VIZCAYA ARGENTA EUR XXXX N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 CITIGROUP INC JR SUBORDINA 12/99 VAR 172967PM7 750000.000000 NS USD 798480.000000 0.0985803 Long EP CORP US N 2 N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS GROUP AG JR SUBORDINA REGS 12/99 VAR H42097ER4 1300000.000000 PA USD 1550005.600000 0.191364 Long DBT CORP CH N 2 2033-11-13 Floating 9.25 N N N N Y UBS GROUP AG UBS GROUP AG-REG *PROXY* CHF XXXX N N N N/A N/A LONG GILT FUTURE DEC25 IFLL 20251229 000000000 105.000000 NC 57662.500000 0.007119 N/A DIR GB N 1 INTERCONTINENTAL EXCHANGE 5493000F4ZO33MV32P92 Long N/A UNITED KINGDOM GOVT 2025-12-29 12827920.110000 GBP 57662.500000 N N N CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) 2IGI19DL77OX0HC3ZE78 CANADIAN IMPERIAL BANK JR SUBORDINA 01/85 VAR 13607PNF7 3200000.000000 PA USD 3251581.630000 0.40144 Long DBT CORP CA N 2 2085-01-28 Floating 6.95 N N N N Y CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) CAN IMPERIAL BK OF COMMERCE CAD XXXX N N N N/A N/A US LONG BOND(CBT) DEC25 XCBT 20251219 000000000 -50.000000 NC USD -53764.620000 -0.0066378 N/A DIR US N 2 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Short N/A UNITED STATES GOVT 2025-12-19 -5830468.750000 USD -53764.620000 N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 BARCLAYS PLC JR SUBORDINA REGS 12/99 VAR ACI26N5G4 1900000.000000 PA 2693947.280000 0.332595 Long DBT CORP GB N 2 2027-09-15 Floating 8.875 N N N N Y BARCLAYS PLC BARCLAYS PLC GBP XXXX N N N BANK OF IRELAND GROUP PLC 635400C8EK6DRI12LJ39 BANK OF IRELAND GROUP JR SUBORDINA REGS 12/99 VAR ACI2R0NV8 2450000.000000 PA 3003245.660000 0.370781 Long DBT CORP IE N 2 2030-03-10 Floating 6.375 N N N N N N N/A N/A RFR GBP SONIO/4.50000 09/17/25-30Y LCH 000000000 1.000000 NC 125836.360000 0.0155357 N/A DIR GB N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 SONIA O/N Deposit Rates Swap N/A N/A Y 2055-09-17 197047.750000 GBP 0.000000 GBP 4170000.000000 GBP -71211.390000 N N N N/A N/A RFR GBP SONIO/3.75000 09/17/25-5Y LCH 000000000 1.000000 NC -49692.870000 -0.0061351 N/A DIR GB N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 SONIA O/N Deposit Rates Swap N/A N/A Y 2030-09-17 0.000000 GBP -41859.700000 GBP 8600000.000000 GBP -7833.170000 N N N N/A N/A SOLD EUR BOUGHT USD 20251002 000000000 1.000000 NC -295237.970000 -0.0364501 N/A DFE N/A N 2 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED JHE42UYNWWTJB8YTTU19 38329338.810000 EUR 44705347.660000 USD 2025-10-02 -295237.970000 N N N ROYAL BANK OF CANADA ES7IP3U3RHIGC71XBU11 ROYAL BANK OF CANADA JR SUBORDINA 05/84 VAR 780082AR4 12300000.000000 PA USD 12980423.700000 1.60256 Long DBT CORP CA N 2 2084-05-02 Floating 7.5 N N N N Y ROYAL BANK OF CANADA ROYAL BANK OF CANADA CAD XXXX N N N N/A N/A EURO-SCHATZ FUT DEC25 XEUR 20251208 000000000 -172.000000 NC 23402.730000 0.0028893 N/A DIR DE N 1 EUREX DEUTSCHLAND 529900UT4DG0LG5R9O07 Short N/A GERMANY GOVT 2025-12-08 -21603189.660000 EUR 23402.730000 N N N ERSTE GROUP BANK AG PQOH26KWDF7CG10L6792 ERSTE GROUP BANK AG JR SUBORDINA REGS 12/99 VAR BN13P8II9 6800000.000000 PA 7995260.360000 0.987094 Long DBT CORP AT N 2 2027-10-15 Floating 4.25 N N N N N N MITSUBISHI UFJ FINANCIAL GROUP INC (MUFG) 353800V2V8PUY9TK3E06 MITSUBISHI UFJ FIN GRP JR SUBORDINA 12/99 VAR 606822DD3 3900000.000000 PA USD 4292535.000000 0.529956 Long DBT CORP JP N 2 2029-01-15 Floating 8.2 N N N N N N N/A N/A RFR GBP SONIO/4.00000 09/17/25-10Y LCH 000000000 1.000000 NC 209573.600000 0.0258739 N/A DIR GB N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 SONIA O/N Deposit Rates Swap N/A N/A Y 2035-09-17 258672.250000 GBP 0.000000 GBP 12300000.000000 GBP -49098.650000 N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC 2509.030000 0.0003098 N/A DFE GB N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 321649.000000 GBP 435094.600000 USD 2025-10-02 2509.030000 N N N COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) DG3RU1DBUFHT4ZF9WN62 COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR ACI1X3FC8 7200000.000000 PA 8169265.230000 1.00858 Long DBT CORP NL N 2 2028-06-29 Floating 3.1 N N N N N N CAIXABANK SA (AKA: LA CAIXA) 7CUNS533WID6K7DGFI87 CAIXABANK SA JR SUBORDINA REGS 12/99 VAR ACI2DD5W3 4200000.000000 PA 5547663.050000 0.684914 Long DBT CORP ES N 2 2029-03-13 Floating 8.25 N N N N Y CAIXABANK SA (AKA: LA CAIXA) CAIXABANK SA EUR XXXX N N N N/A N/A SOLD EUR BOUGHT USD 20251002 000000000 1.000000 NC -9573.150000 -0.0011819 N/A DFE N/A N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 1700000.000000 EUR 1986312.980000 USD 2025-10-02 -9573.150000 N N N SVENSKA HANDELSBANKEN AB NHBDILHZTYCNBV5UYZ31 SVENSKA HANDELSBANKEN AB JR SUBORDINA REGS 12/99 VAR ACI1RWDZ2 2400000.000000 PA USD 2364290.110000 0.291895 Long DBT CORP SE N 2 2027-03-01 Floating 4.375 N N N N Y SVENSKA HANDELSBANKEN AB SVENSKA HANDELSBANKEN-A SHS SEK XXXX N N N BANCO SANTANDER SA 5493006QMFDDMYWIAM13 BANCO SANTANDER SA BANCO SANTANDER SA 05964HBH7 4600000.000000 PA USD 5075253.600000 0.626591 Long DBT CORP ES N 2 2034-02-01 Floating 8 N N N N Y BANCO SANTANDER SA BANCO SANTANDER SA EUR XXXX N N N N/A N/A IRS EUR 2.00000 03/18/26-2Y LCH 000000000 1.000000 NC -47465.700000 -0.0058601 N/A DIR N/A N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A Euribor 6 Month ACT/360 Y 2028-03-18 0.000000 EUR -38211.160000 EUR 10000000.000000 EUR -9254.540000 N N N N/A N/A RFR USD SOFR/3.75000 09/17/25-2Y LCH 000000000 1.000000 NC USD 646.190000 0.0000798 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2027-09-17 386.340000 USD 0.000000 USD 100000.000000 USD 259.850000 N N N N/A N/A SOLD GBP BOUGHT USD 20251104 000000000 1.000000 NC -316537.760000 -0.0390797 N/A DFE GB N 2 STANDARD CHARTERED BANK RILFO74KP1CM8P6PCT96 43369000.000000 GBP 58020652.850000 USD 2025-11-04 -316537.760000 N N N UNITED STATES GOVT 254900HROIFWPRGM1V77 TREASURY BILL 10/25 0.00000 912797RD1 479000.000000 PA USD 477925.170000 0.0590046 Long DBT UST US N 2 2025-10-21 None 0 N N N N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 HSBC HOLDINGS PLC HSBC HOLDINGS PLC 404280EJ4 2200000.000000 PA USD 2321008.800000 0.286552 Long DBT CORP GB N 2 2034-03-11 Floating 6.95 N N N N Y HSBC HOLDINGS PLC HSBC HOLDINGS PLC GBP XXXX N N N AFRICAN DEVELOPMENT BANK 549300LNCLMO3ITVCU07 AFRICAN DEVELOPMENT BANK AFRICAN DEVELOPMENT BANK 008281BK2 2000000.000000 PA USD 2005000.000000 0.247537 Long DBT CORP N/A N 2 2035-05-07 Floating 5.875 N N N N N N ING GROEP NV 549300NYKK9MWM7GGW15 ING GROEP NV ING GROEP NV ACI2MS9X4 7700000.000000 PA USD 8367461.330000 1.03305 Long DBT CORP NL N 2 2030-05-16 Floating 8 N N N N Y ING GROEP NV ING GROEP NV EUR XXXX N N N METLIFE CAPITAL TRUST IV N/A METLIFE CAPITAL TRUST IV JR SUBORDINA 144A 12/67 7.875 591560AA5 6100000.000000 PA USD 6832799.100000 0.843577 Long DBT CORP US N 2 2067-12-15 Floating 7.875 N N N N N N BANK OF IRELAND GROUP PLC 635400C8EK6DRI12LJ39 BANK OF IRELAND GROUP JR SUBORDINA REGS 12/99 VAR ACI2VK7P0 1100000.000000 PA 1321428.480000 0.163144 Long DBT CORP IE N 2 2032-03-18 Floating 6.125 N N N N N N ENBRIDGE INC 98TPTUM4IVMFCZBCUR27 ENBRIDGE INC SUBORDINATED 01/84 VAR 29250NBT1 1759000.000000 PA USD 2016086.650000 0.248906 Long DBT CORP CA N 2 2084-01-15 Floating 8.5 N N N N N N N/A N/A US 10YR ULTRA FUT DEC25 XCBT 20251219 000000000 468.000000 NC USD 537711.560000 0.0663858 N/A DIR US N 2 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Long N/A UNITED STATES GOVT 2025-12-19 53860218.980000 USD 537711.560000 N N N THE BANK OF NOVA SCOTIA L3I9ZG2KFGXZ61BMYR72 BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA 06419GEE2 2000000.000000 PA USD 1999038.200000 0.246801 Long DBT CORP CA N 2 2085-10-27 Floating 6.875 N N N N Y THE BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA CAD XXXX N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC 66134.290000 0.0081649 N/A DFE N/A N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 11136657.130000 USD 9542000.000000 EUR 2025-10-02 66134.290000 N N N N/A N/A RFR GBP SONIO/3.50000 09/17/25-2Y LCH 000000000 1.000000 NC 24585.150000 0.0030353 N/A DIR GB N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 SONIA O/N Deposit Rates Swap N/A N/A Y 2027-09-17 24098.690000 GBP 0.000000 GBP 3500000.000000 GBP 486.460000 N N N PNC FINANCIAL SERVICES GROUP INC CFGNEKW0P8842LEUIA51 PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR 693475BP9 3300000.000000 NS USD 3389958.000000 0.418524 Long EP CORP US N 2 N N N SEMPRA PBBKGKLRK5S5C0Y4T545 SEMPRA JR SUBORDINA 04/55 VAR 816851BU2 2900000.000000 PA USD 2950421.890000 0.364259 Long DBT CORP US N 2 2055-04-01 Floating 6.625 N N N N N N UNITED STATES GOVT 254900HROIFWPRGM1V77 TREASURY BILL 01/26 0.00000 912797SH1 275000.000000 PA USD 271556.690000 0.0335264 Long DBT UST US N 2 2026-01-27 None 0 N N N N N N N/A N/A EURO-BUXL 30Y BND DEC25 XEUR 20251208 000000000 -35.000000 NC -106478.060000 -0.0131458 N/A DIR DE N 1 EUREX DEUTSCHLAND 529900UT4DG0LG5R9O07 Short N/A GERMANY GOVT 2025-12-08 -4704186.200000 EUR -106478.060000 N N N SEMPRA PBBKGKLRK5S5C0Y4T545 SEMPRA JR SUBORDINA 04/56 VAR 816851BW8 3300000.000000 PA USD 3388622.260000 0.418359 Long DBT CORP US N 2 2056-04-01 Floating 6.375 N N N N N N SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 SOCIETE GENERALE SOCIETE GENERALE 83371GAA9 3400000.000000 PA USD 3771422.800000 0.46562 Long DBT CORP FR N 2 2028-11-14 Floating 10 N N N N N N AMERICAN ELECTRIC POWER COMPANY INC 1B4S6S7G0TW5EE83BO58 AMERICAN ELECTRIC POWER JR SUBORDINA 03/56 VAR 02557TAF6 2000000.000000 PA USD 2007812.500000 0.247884 Long DBT CORP US N 2 2056-03-15 Floating 6.05 N N N N N N N/A N/A US 2YR NOTE (CBT) DEC25 XCBT 20251231 000000000 122.000000 NC USD -1816.890000 -0.0002243 N/A DIR US N 2 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Long N/A UNITED STATES GOVT 2025-12-31 25421273.470000 USD -1816.890000 N N N SEMPRA PBBKGKLRK5S5C0Y4T545 SEMPRA JR SUBORDINA 12/99 VAR 816851BK4 3700000.000000 NS USD 3701850.000000 0.45703 Long EP CORP US N 2 N N N THE BANK OF NOVA SCOTIA L3I9ZG2KFGXZ61BMYR72 BANK OF NOVA SCOTIA JR SUBORDINA 04/85 VAR 0641598X7 5200000.000000 PA USD 5432787.260000 0.670732 Long DBT CORP CA N 2 2085-04-27 Floating 7.35 N N N N Y THE BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA CAD XXXX N N N ABN AMRO BANK NV BFXS5XCH7N0Y05NIXW11 ABN AMRO BANK NV ABN AMRO BANK NV ACI2QZY73 1200000.000000 PA 1500036.630000 0.185194 Long DBT CORP NL N 2 2034-09-22 Floating 6.375 N N N N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC -91.900000 -0.0000113 N/A DFE GB N 2 JPMORGAN CHASE & CO. 8I5DZWZKVSZI1NUHU748 150000.000000 GBP 201643.020000 USD 2025-10-02 -91.900000 N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS GROUP AG JR SUBORDINA REGS 12/99 VAR H42097ES2 700000.000000 PA USD 773985.800000 0.0955562 Long DBT CORP CH N 2 2028-11-13 Floating 9.25 N N N N Y UBS GROUP AG UBS GROUP AG-REG *PROXY* CHF XXXX N N N BP CAPITAL MARKETS PLC 549300CRVT18MXX0AG93 BP CAPITAL MARKETS PLC COMPANY GUAR 12/99 VAR 05565QDW5 3800000.000000 PA USD 4062291.200000 0.50153 Long DBT CORP GB N 2 2033-12-01 Floating 6.45 N N N N N N N/A N/A IRS EUR 3.00000 03/18/26-30Y LCH 000000000 1.000000 NC -11949.520000 -0.0014753 N/A DIR N/A N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A Euribor 6 Month ACT/360 Y 2056-03-18 0.000000 EUR -10308.220000 EUR 650000.000000 EUR -1641.300000 N N N JP MORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR 48128AAJ2 15700000.000000 NS USD 16271166.000000 2.00884 Long EP CORP US N 2 N N N ELECTRICITE DE FRANCE SA (EDF) 549300X3UK4GG3FNMO06 ELECTRICITE DE FRANCE SA JR SUBORDINA REGS 12/99 VAR ACI2R4GV8 700000.000000 PA 961209.190000 0.118671 Long DBT CORP FR N 2 2035-06-17 Floating 7.375 N N N N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 GOLDMAN SACHS GROUP INC GOLDMAN SACHS GROUP INC 38141GA79 7100000.000000 NS USD 7518261.000000 0.928204 Long EP CORP US N 2 N N N N/A N/A RFR USD SOFR/3.75000 12/18/24-5Y LCH 000000000 1.000000 NC USD -127204.160000 -0.0157046 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2029-12-18 0.000000 USD -271449.220000 USD 12700000.000000 USD 144245.060000 N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC 28067.500000 0.0034652 N/A DFE N/A N 2 JPMORGAN CHASE & CO. 8I5DZWZKVSZI1NUHU748 7269831.420000 USD 6216000.000000 EUR 2025-10-02 28067.500000 N N N STATE STREET CORPORATION 549300ZFEEJ2IP5VME73 STATE STREET CORP STATE STREET CORP 857477CH4 6200000.000000 NS USD 6461330.000000 0.797715 Long EP CORP US N 2 N N N BANK OF AMERICA CORPORATION 9DJT3UXIJIZJI4WXO774 BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR 06055HAH6 7200000.000000 NS USD 7505568.000000 0.926637 Long EP CORP US N 2 N N N SWISS RE SUBORDINATED FINANCE PLC 636700H29EH5Z8ZU8L04 SWISS RE SUB FIN PLC COMPANY GUAR 144A 04/35 VAR 87088QAA2 2400000.000000 PA USD 2492352.700000 0.307706 Long DBT CORP GB N 2 2035-04-05 Floating 5.698 N N N N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 WELLS FARGO + COMPANY JR SUBORDINA 12/99 VAR 95002YAA1 2300000.000000 NS USD 2467647.000000 0.304656 Long EP CORP US N 2 N N N N/A N/A BOUGHT GBP SOLD USD 20251104 000000000 1.000000 NC 342.230000 0.0000423 N/A DFE GB N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 454226.210000 USD 337935.000000 GBP 2025-11-04 342.230000 N N N N/A N/A REVERSE REPO CREDIT AGRICOLE 03/14 VAR 000000000 -3041814.520000 PA USD -3042186.300000 -0.375588 Short RA US N 2 Reverse repurchase N 4.400000 2025-12-24 3250000.000000 USD 3444184.250000 USD CDS N N N NATIONWIDE BUILDING SOCIETY 549300XFX12G42QIKN82 NATIONWIDE BLDG SOCIETY JR SUBORDINA REGS 12/99 VAR ACI2XM0C0 1500000.000000 PA 2092343.150000 0.258321 Long DBT CORP GB N 2 2031-12-20 Floating 7.875 N N N N Y NATIONWIDE BUILDING SOCIETY Core Capital Deferred Shares GBP XXXX N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 MORGAN STANLEY PREFERRED STOCK 4.875 61762V804 112700.000000 NS USD 2417415.000000 0.298454 Long EP CORP US N 1 N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC -355.390000 -0.0000439 N/A DFE N/A N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 90757.290000 USD 77000.000000 EUR 2025-10-02 -355.390000 N N N N/A N/A SOLD EUR BOUGHT USD 20251002 000000000 1.000000 NC 44.950000 0.0000055 N/A DFE N/A N 2 NATWEST MARKETS PLC RR3QWICWWIPCS8A4S074 4000.000000 EUR 4741.150000 USD 2025-10-02 44.950000 N N N COMMERZBANK AG 851WYGNLUQLFZBSYGB56 COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR ACI2XGH43 2800000.000000 PA 3467241.640000 0.428065 Long DBT CORP DE N 2 2032-10-09 Floating 6.625 N N N N N N CREDIT AGRICOLE ASSURANCES 969500K2MUPSI57XK083 CREDIT AGRICOLE ASSRNCES JR SUBORDINA REGS 12/99 VAR ACI2VLXJ3 2200000.000000 PA 2711540.450000 0.334767 Long DBT CORP FR N 2 2035-06-17 Floating 6.25 N N N N N N BANK OF NEW YORK MELLON CORP (BNY MELLON) WFLLPEPC7FZXENRZV188 BANK OF NY MELLON CORP JR SUBORDINA 12/49 VAR 064058AF7 2200000.000000 NS USD 2187130.000000 0.270023 Long EP CORP US N 2 N N N N/A N/A SOLD EUR BOUGHT USD 20251002 000000000 1.000000 NC -19994.820000 -0.0024686 N/A DFE N/A N 2 JPMORGAN CHASE & CO. 8I5DZWZKVSZI1NUHU748 4428177.020000 EUR 5178909.340000 USD 2025-10-02 -19994.820000 N N N CREDIT AGRICOLE SA 969500TJ5KRTCJQWXH05 CREDIT AGRICOLE SA JR SUBORDINA REGS 12/99 VAR ACI2TX8N9 2500000.000000 PA 2986149.430000 0.36867 Long DBT CORP FR N 2 2035-03-23 Floating 5.875 N N N N N N METLIFE INC C4BXATY60WC6XEOZDX54 METLIFE INC PREFERRED STOCK 4.75 59156R850 103400.000000 NS USD 2156924.000000 0.266294 Long EP CORP US N 1 N N N N/A N/A REVERSE REPO BANK OF AMERICA REVERSE REPO 000000000 -8721000.000000 PA USD -8743047.180000 -1.07942 Short RA US N 2 Reverse repurchase N 4.790000 2026-01-15 9100000.000000 USD 9471807.410000 USD CDS N N N N/A N/A BOUGHT GBP SOLD USD 20251104 000000000 1.000000 NC -2570.810000 -0.0003174 N/A DFE GB N 2 BARCLAYS BANK PLC G5GSEF7VJP5I7OUK5573 615133.510000 USD 455391.000000 GBP 2025-11-04 -2570.810000 N N N N/A N/A US 10YR NOTE (CBT)DEC25 XCBT 20251219 000000000 -50.000000 NC USD -40.270000 -0.000005 N/A DIR US N 2 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Short N/A UNITED STATES GOVT 2025-12-19 -5624609.400000 USD -40.270000 N N N GROUPE DES ASSURANCES DU CREDIT MUTUEL 96950090CGKLVXEKWF10 GROUPE ACM 10/44 1 ACI2NW2N3 1100000.000000 PA 1352770.470000 0.167013 Long DBT CORP FR N 2 2044-10-30 Floating 5 N N N N N N N/A N/A REVERSE REPO JPM CHASE 000000000 -2307404.000000 PA USD -2310095.970000 -0.285204 Short RA US N 2 Reverse repurchase N 3.500000 2027-09-19 2200000.000000 USD 2321008.800000 USD CDS N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC 8887.920000 0.0010973 N/A DFE N/A N 2 BARCLAYS BANK PLC G5GSEF7VJP5I7OUK5573 5951638.720000 USD 5076890.490000 EUR 2025-10-02 8887.920000 N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR 38141GC28 1800000.000000 NS USD 1872828.000000 0.231219 Long EP CORP US N 2 N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR 38141GB52 7200000.000000 NS USD 7338096.000000 0.905961 Long EP CORP US N 2 N N N DOMINION ENERGY INC ILUL7B6Z54MRYCF6H308 DOMINION ENERGY INC JR SUBORDINA 06/54 VAR 25746UDU0 3800000.000000 PA USD 4126142.600000 0.509413 Long DBT CORP US N 2 2054-06-01 Floating 7 N N N N N N USB REALTY CORP N/A USB REALTY CORP JR SUBORDINA 144A 12/49 VAR 903312AA4 6567000.000000 PA USD 5306787.450000 0.655176 Long DBT CORP US N 2 2027-01-15 Floating 5.72616 N N N N N N BBVA BANCOMER SA/TAXAS BRANCH 549300WIWQK5Q9MCUN92 BBVA BANCOMER SA TEXAS BBVA BANCOMER SA TEXAS 07336UAB9 5600000.000000 PA USD 6109577.600000 0.754288 Long DBT CORP MX N 2 2039-01-08 Floating 8.125 N N N N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC 1708.630000 0.0002109 N/A DFE N/A N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 254234.410000 USD 218000.000000 EUR 2025-10-02 1708.630000 N N N CMS ENERGY CORPORATION 549300IA9XFBAGNIBW29 CMS ENERGY CORP JR SUBORDINA 06/55 VAR 125896BY5 2000000.000000 PA USD 2072758.020000 0.255903 Long DBT CORP US N 2 2055-06-01 Floating 6.5 N N N N N N COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) DG3RU1DBUFHT4ZF9WN62 COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR ACI1FB0Z5 1000000.000000 PA 1162310.160000 0.143499 Long DBT CORP NL N 2 2026-12-29 Floating 3.25 N N N N N N NATWEST GROUP PLC 2138005O9XJIJN4JPN90 NATWEST GROUP PLC JR SUBORDINA 12/99 VAR ACI1SQVK7 1500000.000000 PA 1992535.810000 0.245998 Long DBT CORP GB N 2 2027-05-12 Floating 5.125 N N N N Y NATWEST GROUP PLC NATWEST GROUP PLC GBP XXXX N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 BNP PARIBAS BNP PARIBAS 05602XJC3 2500000.000000 PA USD 2618832.500000 0.323321 Long DBT CORP FR N 2 2034-09-10 Floating 7.375 N N N N Y BNP PARIBAS BNP PARIBAS EUR XXXX N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC 2582.770000 0.0003189 N/A DFE GB N 2 BARCLAYS BANK PLC G5GSEF7VJP5I7OUK5573 455391.000000 GBP 615037.880000 USD 2025-10-02 2582.770000 N N N NATWEST GROUP PLC 2138005O9XJIJN4JPN90 NATWEST GROUP PLC JR SUBORDINA 12/99 VAR 639057AQ1 4800000.000000 PA USD 5411304.000000 0.668079 Long DBT CORP GB N 2 2033-11-10 Floating 8.125 N N N N Y NATWEST GROUP PLC NATWEST GROUP PLC GBP XXXX N N N DNB BANK ASA 549300GKFG0RYRRQ1414 DNB BANK ASA DNB BANK ASA ACI2P8HB4 5200000.000000 PA USD 5482750.000000 0.6769 Long DBT CORP NO N 2 2029-05-30 Floating 7.375 N N N N N N N/A N/A IRS EUR 2.50000 03/18/26-5Y LCH 000000000 1.000000 NC 7879.160000 0.0009728 N/A DIR N/A N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A Euribor 6 Month ACT/360 Y 2031-03-18 11311.040000 EUR 0.000000 EUR 2610000.000000 EUR -3431.880000 N N N AMERICAN ELECTRIC POWER COMPANY INC 1B4S6S7G0TW5EE83BO58 AMERICAN ELECTRIC POWER AMERICAN ELECTRIC POWER 025537AZ4 2100000.000000 PA USD 2205182.700000 0.272252 Long DBT CORP US N 2 2054-12-15 Floating 7.05 N N N N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS GROUP AG JR SUBORDINA 144A 12/99 VAR 902613BE7 11900000.000000 PA USD 14188512.800000 1.75171 Long DBT CORP CH N 2 2033-11-13 Floating 9.25 N N N N Y UBS GROUP AG UBS GROUP AG-REG *PROXY* CHF XXXX N N N HSBC HOLDINGS PLC MLU0ZO3ML4LN2LL2TL39 HSBC HOLDINGS PLC JR SUBORDINA 12/99 VAR 404280EH8 2100000.000000 PA USD 2185008.000000 0.269761 Long DBT CORP GB N 2 2029-09-11 Floating 6.875 N N N N Y HSBC HOLDINGS PLC HSBC HOLDINGS PLC GBP XXXX N N N N/A N/A REVERSE REPO BANK OF NEW YORK 000000000 -1450800.000000 PA USD -1452371.700000 -0.17931 Short RA US N 2 Reverse repurchase N 3.250000 2027-09-19 1500000.000000 USD 1517994.000000 USD CDS N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC 1215.670000 0.0001501 N/A DFE N/A N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 421442.570000 USD 360000.000000 EUR 2025-10-02 1215.670000 N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 WELLS FARGO + COMPANY PREFERRED STOCK 4.75 94988U151 63000.000000 NS USD 1243620.000000 0.153537 Long EP CORP US N 1 N N N SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 SOCIETE GENERALE JR SUBORDINA 144A 12/99 VAR 83370RAC2 900000.000000 PA USD 966234.600000 0.119291 Long DBT CORP FR N 2 2027-11-22 Floating 9.375 N N N N N N ASR NEDERLAND NV 7245000G0HS48PZWUD53 ASR NEDERLAND NV JR SUBORDINA REGS 12/99 VAR ACI2W0CT9 3500000.000000 PA 4370571.120000 0.53959 Long DBT CORP NL N 2 2035-04-02 Floating 6.5 N N N N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC -337.750000 -0.0000417 N/A DFE GB N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 337935.000000 GBP 454150.850000 USD 2025-10-02 -337.750000 N N N N/A N/A SOLD EUR BOUGHT USD 20251104 000000000 1.000000 NC 75216.470000 0.0092862 N/A DFE N/A N 2 SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 38399625.340000 EUR 45248544.120000 USD 2025-11-04 75216.470000 N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 WELLS FARGO + COMPANY PREFERRED STOCK 4.25 95002Y400 129900.000000 NS USD 2308323.000000 0.284985 Long EP CORP US N 1 N N N PNC FINANCIAL SERVICES GROUP INC CFGNEKW0P8842LEUIA51 PNC FINANCIAL SERVICES JR SUBORDINA 12/99 VAR 693475BC8 10500000.000000 NS USD 10194555.000000 1.25862 Long EP CORP US N 2 N N N AMERICAN EXPRESS COMPANY R4PP93JZOLY261QX3811 AMERICAN EXPRESS CO JR SUBORDINA 12/99 VAR 025816CH0 5350000.000000 NS USD 5249794.500000 0.648139 Long EP CORP US N 2 N N N LIBERTY MUTUAL GROUP INC QUR0DG15Z6FFGYCHH861 LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 12/51 VAR 53079EBM5 5500000.000000 PA USD 5403215.680000 0.667081 Long DBT CORP US N 2 2051-12-15 Floating 4.125 N N N N N N N/A N/A REVERSE REPO SOCIETE GENERALE REVERSE REPO 000000000 -7098672.990000 PA USD -7138991.070000 -0.881379 Short RA US N 2 Reverse repurchase N 4.670000 2025-10-14 6900000.000000 USD 7651363.100000 USD CDS N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC -144578.850000 -0.0178497 N/A DFE N/A N 2 SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 87221807.140000 USD 74168203.350000 EUR 2025-10-02 -144578.850000 N N N AGENCE FRANCE LOCALE 969500NMI4UP00IO8G47 AGENCE FRANCE LOCALE JR SUBORDINA 144A REGS 12/99 V ACI2SNH69 2000000.000000 PA 2560956.710000 0.316176 Long DBT MUN FR N 2 2031-06-17 Floating 7 N N N N N N SVB FINANCIAL TRUST N/A SVB FINL TR 000000000 1528000.000000 NS USD 183360.000000 0.0226376 Long EP CORP US N 2 N N N EDISON INTERNATIONAL 549300I7ROF15MAEVP56 EDISON INTERNATIONAL JR SUBORDINA 12/99 VAR 281020AT4 4100000.000000 NS USD 3902380.000000 0.481788 Long EP CORP US N 2 N N N TRUIST FINANCIAL CORPORATION 549300DRQQI75D2JP341 TRUIST FINANCIAL CORP JR SUBORDINA 12/99 VAR 89832QAF6 4900000.000000 NS USD 4900343.000000 0.604996 Long EP CORP US N 2 N N N THE DAI-ICHI LIFE INSURANCE COMPANY LIMITED 3538001235ACEIORUV72 DAI ICHI LIFE INSURANCE SUBORDINATED 144A 12/99 VAR 23381LAA2 4300000.000000 PA USD 4472976.100000 0.552233 Long DBT CORP JP N 2 2035-01-16 Floating 6.2 N N N N N N CAIXABANK SA (AKA: LA CAIXA) 7CUNS533WID6K7DGFI87 CAIXABANK SA JR SUBORDINA REGS 12/99 VAR ACI2MB1B7 1800000.000000 PA 2355138.350000 0.290765 Long DBT CORP ES N 2 2030-01-16 Floating 7.5 N N N N Y CAIXABANK SA (AKA: LA CAIXA) CAIXABANK SA EUR XXXX N N N CHARLES SCHWAB CORP/THE 549300VSGCJ7E698NM85 CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR 808513BJ3 11900000.000000 NS USD 11192545.000000 1.38183 Long EP CORP US N 2 N N N N/A N/A EURO-BOBL FUTURE DEC25 XEUR 20251208 000000000 -100.000000 NC 8789.690000 0.0010852 N/A DIR DE N 1 EUREX DEUTSCHLAND 529900UT4DG0LG5R9O07 Short N/A GERMANY GOVT 2025-12-08 -13831490.860000 EUR 8789.690000 N N N DEUTSCHE BANK AKTIENGESELLSCHAFT 7LTWFZYICNSX8D621K86 DEUTSCHE BANK AG JR SUBORDINA REGS VAR BMV877II9 1400000.000000 PA 1621830.650000 0.200231 Long DBT CORP DE N 2 2027-10-30 Floating 4.625 N N N N N N DEUTSCHE BANK AKTIENGESELLSCHAFT 7LTWFZYICNSX8D621K86 DEUTSCHE BANK AG 12/99 1 ACI2PD799 3200000.000000 PA 4108407.140000 0.507224 Long DBT CORP DE N 2 2029-10-30 Floating 8.125 N N N N N N NN GROUP NV 724500OHYNDT9OY6Q215 NN GROUP NV JR SUBORDINA REGS 12/99 VAR ACI2VD5C7 3400000.000000 PA 4052742.580000 0.500351 Long DBT CORP NL N 2 2034-09-11 Floating 5.75 N N N N N N NATWEST GROUP PLC 2138005O9XJIJN4JPN90 NATWEST GROUP PLC JR SUBORDINA REGS 12/99 VAR ACI3077N6 1500000.000000 PA 2035626.390000 0.251318 Long DBT CORP GB N 2 2035-09-30 Floating 7.625 N N N N Y NATWEST GROUP PLC NATWEST GROUP PLC GBP XXXX N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC 5400.340000 0.0006667 N/A DFE GB N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 264000.000000 GBP 360453.800000 USD 2025-10-02 5400.340000 N N N BANCO SANTANDER SA 5493006QMFDDMYWIAM13 BANCO SANTANDER SA BANCO SANTANDER SA 05971KAQ2 7000000.000000 PA USD 8452665.760000 1.04357 Long DBT CORP ES N 2 2033-05-21 Floating 9.625 N N N N Y BANCO SANTANDER SA BANCO SANTANDER SA EUR XXXX N N N EQUITABLE HOLDINGS INC 549300FIBAKMNHPZ4009 EQUITABLE HOLDINGS INC JR SUBORDINA 03/55 VAR 29452EAD3 2000000.000000 PA USD 2086408.000000 0.257588 Long DBT CORP US N 2 2055-03-28 Floating 6.7 N N N N N N NIPPON LIFE INSURANCE COMPANY 549300Y0HHMFW3EVWY08 NIPPON LIFE INSURANCE SUBORDINATED 144A 04/55 VAR 654579AP6 7500000.000000 PA USD 8082690.000000 0.997888 Long DBT CORP JP N 2 2055-04-30 Floating 6.5 N N N N N N SCE TRUST VII N/A SCE TRUST VII PREFERRED STOCK 7.5 783892201 168700.000000 NS USD 3975415.500000 0.490804 Long EP CORP US N 2 N N N AIRCASTLE LIMITED 549300PNK8AKY3OIKP58 AIRCASTLE LTD JR SUBORDINA 144A 12/99 VAR 00928QAW1 4000000.000000 NS USD 3982520.000000 0.491682 Long EP CORP BM N 2 N N N LLOYDS BANKING GROUP PLC 549300PPXHEU2JF0AM85 LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR ACI2C83R8 7400000.000000 PA 10555860.400000 1.30323 Long DBT CORP GB N 2 2028-03-27 Floating 8.5 N N N N Y LLOYDS BANKING GROUP PLC LLOYDS BANKING GROUP PLC GBP XXXX N N N SAMPO PLC (AKA: SAMPO OYJ) 743700UF3RL386WIDA22 SAMPO OYJ JR SUBORDINA REGS 12/99 VAR ACI30DB99 400000.000000 PA 473130.680000 0.0584127 Long DBT CORP FI N 2 2035-03-24 Floating 5.25 N N N N N N AMERICAN AGCREDIT CORPORATION N/A AMER AGCREDIT ACA JR SUBORDINA 144A VAR 02369GAA3 5000000.000000 NS USD 4938350.000000 0.609688 Long EP CORP US N 2 N N N COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) DG3RU1DBUFHT4ZF9WN62 COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/99 VAR ACI24Q0C3 3000000.000000 PA 3569555.750000 0.440697 Long DBT CORP NL N 2 2029-06-29 Floating 4.875 N N N N N N N/A N/A US 5YR NOTE (CBT) DEC25 XCBT 20251231 000000000 442.000000 NC USD 116303.650000 0.0143588 N/A DIR US N 2 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Long N/A UNITED STATES GOVT 2025-12-31 48255695.200000 USD 116303.650000 N N N N/A N/A SOLD EUR BOUGHT USD 20251002 000000000 1.000000 NC -692671.210000 -0.0855171 N/A DFE N/A N 2 AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED JHE42UYNWWTJB8YTTU19 89926203.350000 EUR 104885247.420000 USD 2025-10-02 -692671.210000 N N N CREDIT SUISSE GROUP AG 549300506SI9CRFV9Z86 CS AT1 CLAIMS USH3698DDQ46 CREDIT SUISSE GROUP AG 952NPK007 20650000.000000 PA USD 2684500.000000 0.331428 Long DBT CORP US N 2 2060-12-31 None 0 N N N N N N N/A N/A RFR USD SOFR/3.50000 12/18/24-30Y LCH 000000000 1.000000 NC USD 83255.780000 0.0102788 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2054-12-18 0.000000 USD -43499.000000 USD 1000000.000000 USD 126754.780000 N N N ING GROEP NV 549300NYKK9MWM7GGW15 ING GROEP NV JR SUBORDINA 12/99 VAR 456837BT9 2500000.000000 PA USD 2580051.550000 0.318533 Long DBT CORP NL N 2 2032-11-16 Floating 7 N N N N Y ING GROEP NV ING GROEP NV EUR XXXX N N N SYNCHRONY FINANCIAL 549300RS7EWPM9MA6C78 SYNCHRONY FINANCIAL PREFERRED STOCK VAR 87165B400 82500.000000 NS USD 2135100.000000 0.263599 Long EP CORP US N 1 N N N LLOYDS BANKING GROUP PLC 549300PPXHEU2JF0AM85 LLOYDS BANKING GROUP PLC JR SUBORDINA REGS 12/49 VAR ACI0808H1 2400000.000000 PA 3399765.990000 0.419735 Long DBT CORP GB N 2 2029-06-27 Floating 7.875 N N N N Y LLOYDS BANKING GROUP PLC LLOYDS BANKING GROUP PLC GBP XXXX N N N DEUTSCHE BANK AKTIENGESELLSCHAFT 7LTWFZYICNSX8D621K86 DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR ACI2VYGS4 2400000.000000 PA 2976218.430000 0.367444 Long DBT CORP DE N 2 2030-10-30 Floating 7.125 N N N N N N THE BANK OF NOVA SCOTIA L3I9ZG2KFGXZ61BMYR72 BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA 0641598V1 2000000.000000 PA USD 2149478.000000 0.265374 Long DBT CORP CA N 2 2084-01-27 Floating 8 N N N N Y THE BANK OF NOVA SCOTIA BANK OF NOVA SCOTIA CAD XXXX N N N N/A N/A US ULTRA BOND CBT DEC25 XCBT 20251219 000000000 409.000000 NC USD 1293955.610000 0.159752 N/A DIR US N 2 CHICAGO BOARD OF TRADE 549300EX04Q2QBFQTQ27 Long N/A UNITED STATES GOVT 2025-12-19 49150296.880000 USD 1293955.610000 N N N N/A N/A BOUGHT GBP SOLD USD 20251104 000000000 1.000000 NC -2501.550000 -0.0003088 N/A DFE GB N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 435163.110000 USD 321649.000000 GBP 2025-11-04 -2501.550000 N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC -79.940000 -0.0000099 N/A DFE N/A N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 202016.650000 USD 172000.000000 EUR 2025-10-02 -79.940000 N N N COREBRIDGE FINANCIAL INC 549300XY1661QCIA7J65 COREBRIDGE FINANCIAL INC JR SUBORDINA 12/52 VAR 21871XAP4 6100000.000000 PA USD 6257058.410000 0.772496 Long DBT CORP US N 2 2052-12-15 Floating 6.875 N N N N N N JP MORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 JPMORGAN CHASE + CO PREFERRED STOCK 4.2 48128B523 62600.000000 NS USD 1181888.000000 0.145916 Long EP CORP US N 1 N N N PRUDENTIAL FINANCIAL INC 5PRBRS5FEH7NREC8OR45 PRUDENTIAL FINANCIAL INC 03/54 1 744320BP6 3000000.000000 PA USD 3214749.000000 0.396893 Long DBT CORP US N 2 2054-03-15 Floating 6.5 N N N N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS GROUP AG UBS GROUP AG 902613BN7 2800000.000000 PA USD 2897840.400000 0.357767 Long DBT CORP CH N 2 2029-09-10 Floating 6.85 N N N N Y UBS GROUP AG UBS GROUP AG-REG *PROXY* CHF XXXX N N N N/A N/A BOUGHT GBP SOLD USD 20251104 000000000 1.000000 NC 1671.590000 0.0002064 N/A DFE GB N 2 STANDARD CHARTERED BANK RILFO74KP1CM8P6PCT96 306398.120000 USD 229025.000000 GBP 2025-11-04 1671.590000 N N N NATWEST GROUP PLC 2138005O9XJIJN4JPN90 NATWEST GROUP PLC JR SUBORDINA 12/99 VAR ACI2V7XV7 7000000.000000 PA 9590795.510000 1.18408 Long DBT CORP GB N 2 2032-02-28 Floating 7.5 N N N N Y NATWEST GROUP PLC NATWEST GROUP PLC GBP XXXX N N N SOUTHERN CO 549300FC3G3YU2FBZD92 SOUTHERN CO JR SUBORDINA 03/55 VAR 842587EB9 2000000.000000 PA USD 2132654.000000 0.263297 Long DBT CORP US N 2 2055-03-15 Floating 6.375 N N N N N N ELECTRICITE DE FRANCE SA (EDF) 549300X3UK4GG3FNMO06 ELECTRICITE DE FRANCE SA JR SUBORDINA 144A 12/99 VAR 28504KAA5 4200000.000000 PA USD 4872936.600000 0.601612 Long DBT CORP FR N 2 2033-03-15 Floating 9.125 N N N N N N BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) K8MS7FD7N5Z2WQ51AZ71 BANCO BILBAO VIZCAYA ARG JR SUBORDINA REGS VAR ACI2PFDD8 1800000.000000 PA 2284590.350000 0.282055 Long DBT CORP ES N 2 2030-12-13 Floating 6.875 N N N N Y BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) BANCO BILBAO VIZCAYA ARGENTA EUR XXXX N N N NATIONWIDE BUILDING SOCIETY 549300XFX12G42QIKN82 NATIONWIDE BUILDING SOC CCDS COMMON STOCK ACI07BWB4 35604.000000 NS 6211389.660000 0.766858 Long EP CORP GB N 2 N N N UNITED STATES GOVT 254900HROIFWPRGM1V77 TREASURY BILL 01/26 0.00000 912797SF5 861000.000000 PA USD 851502.530000 0.105126 Long DBT UST US N 2 2026-01-13 None 0 N N N N N N N/A N/A BOUGHT GBP SOLD USD 20251002 000000000 1.000000 NC 316570.660000 0.0390838 N/A DFE GB N 2 STANDARD CHARTERED BANK RILFO74KP1CM8P6PCT96 58010374.400000 USD 43369000.000000 GBP 2025-10-02 316570.660000 N N N BANCO SANTANDER SA 5493006QMFDDMYWIAM13 BANCO SANTANDER SA BANCO SANTANDER SA 05971KAP4 2400000.000000 PA USD 2692612.800000 0.33243 Long DBT CORP ES N 2 2028-11-21 Floating 9.625 N N N N Y BANCO SANTANDER SA BANCO SANTANDER SA EUR XXXX N N N N/A N/A SOLD AUD BOUGHT USD 20251002 000000000 1.000000 NC -6309.700000 -0.000779 N/A DFE AU N 2 WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 483467.000000 AUD 313600.390000 USD 2025-10-02 -6309.700000 N N N CREDIT SUISSE GROUP AG 549300506SI9CRFV9Z86 CS AT1 CLAIMS US225401AL29 CREDIT SUISSE GROUP AG 952NPL005 21800000.000000 PA USD 2834000.000000 0.349885 Long DBT CORP US N 2 2060-12-31 None 0 N N N N N N AIB GROUP PLC (AKA: ALLIED IRISH BANKS) 635400AKJBGNS5WNQL34 AIB GROUP PLC JR SUBORDINA REGS 12/99 VAR ACI2T0DH8 2000000.000000 PA 2402292.570000 0.296587 Long DBT CORP IE N 2 2031-07-14 Floating 6 N N N N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC -1671.760000 -0.0002064 N/A DFE GB N 2 STANDARD CHARTERED BANK RILFO74KP1CM8P6PCT96 229025.000000 GBP 306343.840000 USD 2025-10-02 -1671.760000 N N N N/A N/A RFR USD SOFR/3.75000 12/18/24-2Y LCH 000000000 1.000000 NC USD -2490.980000 -0.0003075 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2026-12-18 3562.810000 USD 0.000000 USD 800000.000000 USD -6053.790000 N N N N/A N/A RFR USD SOFR/3.25000 06/18/25-30Y LCH 000000000 1.000000 NC USD -258357.040000 -0.0318967 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2055-06-18 0.000000 USD -283808.000000 USD 2100000.000000 USD 25450.960000 N N N BANK OF MONTREAL NQQ6HPCNCCU6TUTQYE16 BANK OF MONTREAL BANK OF MONTREAL 06368L5Q5 2100000.000000 PA USD 2231974.500000 0.275559 Long DBT CORP CA N 2 2084-11-26 Floating 7.3 N N N N Y BANK OF MONTREAL BANK OF MONTREAL CAD XXXX N N N PRUDENTIAL FINANCIAL INC 5PRBRS5FEH7NREC8OR45 PRUDENTIAL FINANCIAL INC JR SUBORDINA 09/52 VAR 744320BK7 8600000.000000 PA USD 8959153.200000 1.1061 Long DBT CORP US N 2 2052-09-01 Floating 6 N N N N N N HUNTINGTON BANCSHARES INCORPORATED 549300XTVCVV9I7B5T19 HUNTINGTON BANCSHARES HUNTINGTON BANCSHARES 446150BG8 2000000.000000 NS USD 1998160.000000 0.246693 Long EP CORP US N 2 N N N BANCO MERCANTIL DEL NORTE SA/ GRAND CAYMAN BRANCH 549300QTVYRPFHS0J362 BANCO MERCANTIL DE NORTE JR SUBORDINA REGS VAR P1400MAC2 8600000.000000 PA USD 9202326.800000 1.13612 Long DBT CORP MX N 2 2030-10-14 Floating 8.375 N N N N N N DEUTSCHE BANK AKTIENGESELLSCHAFT 7LTWFZYICNSX8D621K86 DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR ACI2S6Y42 1600000.000000 PA 2025927.730000 0.250121 Long DBT CORP DE N 2 2031-10-30 Floating 7.375 N N N N N N N/A N/A EURO-BUND FUTURE DEC25 XEUR 20251208 000000000 -106.000000 NC -94792.050000 -0.011703 N/A DIR DE N 1 EUREX DEUTSCHLAND 529900UT4DG0LG5R9O07 Short N/A GERMANY GOVT 2025-12-08 -16000455.530000 EUR -94792.050000 N N N COMMERZBANK AG 851WYGNLUQLFZBSYGB56 COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR ACI1R7WZ6 1600000.000000 PA 2014885.080000 0.248758 Long DBT CORP DE N 2 2029-10-09 Floating 6.5 N N N N N N TORONTO-DOMINION BANK PT3QB789TSUIDF371261 TORONTO DOMINION BANK JR SUBORDINA 10/82 VAR 89117F8Z5 9100000.000000 PA USD 9630536.830000 1.18899 Long DBT CORP CA N 2 2082-10-31 Floating 8.125 N N N N Y TORONTO-DOMINION BANK TORONTO-DOMINION BANK CAD XXXX N N N NEXTERA ENERGY CAPITAL HOLDINGS INC UMI46YPGBLUE4VGNNT48 NEXTERA ENERGY CAPITAL NEXTERA ENERGY CAPITAL 65339KCW8 4200000.000000 PA USD 4351170.600000 0.537195 Long DBT CORP US N 2 2054-09-01 Floating 6.7 N N N N N N NORDEA BANK ABP 529900ODI3047E2LIV03 NORDEA BANK ABP NORDEA BANK ABP 65558RAK5 1500000.000000 PA USD 1517994.000000 0.187411 Long DBT CORP FI N 2 2031-09-25 Floating 6.3 N N N N Y NORDEA BANK ABP NORDEA BANK ABP EUR XXXX N N N COBANK ACB (AKA: COBANK AB) P0J8I7M2E0A77CKF1705 COBANK ACB JR SUBORDINA 12/99 VAR 19075QAG7 225000.000000 NS USD 233730.000000 0.0288563 Long EP NUSS US N 2 N N N VENTURE GLOBAL LNG INC 54930011XLBUWMQUC829 VENTURE GLOBAL LNG INC JR SUBORDINA REGS 12/99 VAR U9220NAH4 1500000.000000 NS USD 1486740.000000 0.183553 Long EP CORP US N 2 N N N COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND) DG3RU1DBUFHT4ZF9WN62 COOPERATIEVE RABOBANK UA JR SUBORDINA REGS 12/49 VAR BJBQCWII7 5939725.000000 NS 8036375.010000 0.99217 Long EP CORP NL N 2 N N N KBC GROEP NV 213800X3Q9LSAKRUWY91 KBC GROUP NV JR SUBORDINA REGS 12/99 VAR ACI2R4CX8 1600000.000000 PA 1964763.450000 0.24257 Long DBT CORP BE N 2 2031-09-17 Floating 6.25 N N N N N N INTESA SANPAOLO SPA 2W8N8UU78PMDQKZENC08 INTESA SANPAOLO SPA JR SUBORDINA REGS 12/99 VAR ACI2JKKB0 7800000.000000 PA 10741939.260000 1.3262 Long DBT CORP IT N 2 2029-09-07 Floating 9.125 N N N N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 BARCLAYS PLC BARCLAYS PLC 06738ECN3 6500000.000000 PA USD 7390968.000000 0.912488 Long DBT CORP GB N 2 2029-12-15 Floating 9.625 N N N N Y BARCLAYS PLC BARCLAYS PLC GBP XXXX N N N N/A N/A REVERSE REPO BARCLAYS REVERSE REPO 000000000 -2160537.500000 PA USD -2163526.240000 -0.267109 Short RA US N 2 Reverse repurchase N 4.150000 2027-09-19 2200000.000000 USD 2261223.800000 USD CDS N N N COMPEER FINANCIAL ACA 54930020HTACTODKHT04 COMPEER FINANCIAL ACA JR SUBORDINA 144A VAR 20453QAA0 5000000.000000 NS USD 4890024.500000 0.603722 Long EP CORP US N 2 N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 ENERGY TRANSFER LP JR SUBORDINA 02/56 VAR 29273VBG4 1600000.000000 PA USD 1594068.320000 0.196804 Long DBT CORP US N 2 2056-02-15 Floating 6.5 N N N N N N ABN AMRO BANK NV BFXS5XCH7N0Y05NIXW11 ABN AMRO BANK NV JR SUBORDINA REGS 12/99 VAR ACI2V0L86 1100000.000000 PA 1307344.510000 0.161405 Long DBT CORP NL N 2 2033-09-22 Floating 5.75 N N N N N N MUTUELLE ASSURANCE TRAVAILLEUR MUTUALISTE 969500TGV20DWSIW1W82 MUTUELLE ASSUR TRAV SUBORDINATED REGS 02/36 4.625 ACI2X8PL4 1800000.000000 PA 2188661.360000 0.270212 Long DBT CORP FR N 2 2036-02-23 Fixed 4.625 N N N N N N N/A N/A SOLD EUR BOUGHT USD 20251104 000000000 1.000000 NC -8819.670000 -0.0010889 N/A DFE N/A N 2 BARCLAYS BANK PLC G5GSEF7VJP5I7OUK5573 5076890.490000 EUR 5963635.410000 USD 2025-11-04 -8819.670000 N N N DEUTSCHE BANK AKTIENGESELLSCHAFT 7LTWFZYICNSX8D621K86 DEUTSCHE BANK AG JR SUBORDINA REGS 12/99 VAR ACI2B1022 4200000.000000 PA 5503589.660000 0.679473 Long DBT CORP DE N 2 2027-12-01 Floating 10 N N N N N N CENTERPOINT ENERGY INC 21TPXMRRHFKOBHDC8J74 CENTERPOINT ENERGY INC CENTERPOINT ENERGY INC 15189TBJ5 2600000.000000 PA USD 2764408.400000 0.341294 Long DBT CORP US N 2 2055-02-15 Floating 6.85 N N N N N N ERSTE GROUP BANK AG PQOH26KWDF7CG10L6792 ERSTE GROUP BANK AG JR SUBORDINA REGS 12/99 VAR ACI2JNG78 2000000.000000 PA 2649764.250000 0.32714 Long DBT CORP AT N 2 2028-10-15 Floating 8.5 N N N N N N N/A N/A BOUGHT GBP SOLD USD 20251002 000000000 1.000000 NC 1094.180000 0.0001351 N/A DFE GB N 2 HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 165673.350000 USD 124000.000000 GBP 2025-10-02 1094.180000 N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC -74853.820000 -0.0092414 N/A DFE N/A N 2 SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 45157959.400000 USD 38399625.340000 EUR 2025-10-02 -74853.820000 N N N BNP PARIBAS R0MUWSFPU8MPRO8K5P83 BNP PARIBAS BNP PARIBAS 05602XDJ4 10200000.000000 PA USD 11002281.000000 1.35834 Long DBT CORP FR N 2 2031-08-22 Floating 8 N N N N Y BNP PARIBAS BNP PARIBAS EUR XXXX N N N UNITED STATES GOVT 254900HROIFWPRGM1V77 TREASURY BILL 12/25 0.00000 912797QS9 525000.000000 PA USD 521366.650000 0.0643679 Long DBT UST US N 2 2025-12-04 None 0 N N N N N N JP MORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR 48128BAQ4 5800000.000000 NS USD 6122306.000000 0.75586 Long EP CORP US N 2 N N N AVIVA PLC YF0Y5B0IB8SM0ZFG9G81 AVIVA PLC JR SUBORDINA REGS 12/99 VAR ACI2VYFS5 1300000.000000 PA 1825939.100000 0.22543 Long DBT CORP GB N 2 2032-09-30 Floating 7.75 N N N N Y AVIVA PLC AVIVA PLC GBP XXXX N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 ENERGY TRANSFER LP JR SUBORDINA 12/99 VAR 29273VAM2 9200000.000000 NS USD 9541228.000000 1.17796 Long EP CORP US N 2 N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 WELLS FARGO + CO 12/99 1 95002YAC7 9900000.000000 NS USD 10425393.000000 1.28712 Long EP CORP US N 2 N N N N/A N/A BOUGHT EUR SOLD USD 20251002 000000000 1.000000 NC -538.100000 -0.0000664 N/A DFE N/A N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 186038.100000 USD 158000.000000 EUR 2025-10-02 -538.100000 N N N BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) K8MS7FD7N5Z2WQ51AZ71 BANCO BILBAO VIZCAYA ARG JR SUBORDINA REGS VAR ACI2GR178 3000000.000000 PA 3912230.320000 0.483004 Long DBT CORP ES N 2 2028-06-21 Floating 8.375 N N N N Y BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) BANCO BILBAO VIZCAYA ARGENTA EUR XXXX N N N SUMITOMO MITSUI FINANCIAL GROUP INC 35380028MYWPB6AUO129 SUMITOMO MITSUI FINL GRP 12/99 1 86562MDK3 1500000.000000 PA USD 1570180.500000 0.193854 Long DBT CORP JP N 2 2034-06-05 Floating 6.6 N N N N N N TEXTRON FINANCIAL CORPORATION 4E8B2CNXPE5P5AY03O18 TEXTRON FINANCIAL CORP JR SUBORDINA 144A 02/67 VAR 883199AR2 6242000.000000 PA USD 5657432.710000 0.698466 Long DBT CORP US N 2 2067-02-15 Floating 6.20799 N N N N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 CITIGROUP INC JR SUBORDINA 12/99 VAR 172967PE5 7200000.000000 NS USD 7571304.000000 0.934753 Long EP CORP US N 2 N N N MEIJI YASUDA LIFE INSURANCE COMPANY 549300SLU4LP6YMRLK07 MEIJI YASUDA LIFE INSURA SUBORDINATED 144A 06/55 VAR 585270AE1 1200000.000000 PA USD 1249522.800000 0.154266 Long DBT CORP JP N 2 2055-06-11 Floating 6.1 N N N N N N BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) K8MS7FD7N5Z2WQ51AZ71 BANCO BILBAO VIZCAYA ARG JR SUBORDINA 12/99 VAR 05946KAS0 2700000.000000 PA USD 2867178.600000 0.353982 Long DBT CORP ES N 2 2032-01-14 Floating 7.75 N N N N Y BANCO BILBAO VIZCAYA ARGENTARIA SA (BBVA) BANCO BILBAO VIZCAYA ARGENTA EUR XXXX N N N GLOBAL ATLANTIC (FIN) COMPANY 98450051B2E65CAA7E94 GLOBAL ATLANTIC FIN CO COMPANY GUAR 144A 10/54 VAR 37959GAG2 3250000.000000 PA USD 3444184.250000 0.425219 Long DBT CORP US N 2 2054-10-15 Floating 7.95 N N N N N N N/A N/A REVERSE REPO BANK OF NEW YORK 000000000 -1919250.000000 PA USD -1921681.050000 -0.237251 Short RA US N 2 Reverse repurchase N 3.800000 2027-09-19 2000000.000000 USD 2107920.000000 USD CDS N N N N/A N/A REVERSE REPO SOCIETE GENERALE REVERSE REPO 000000000 -763119.000000 PA USD -763542.960000 -0.094267 Short RA US N 2 Reverse repurchase N 4.000000 2025-10-01 700000.000000 USD 773985.800000 USD CDS N N N AES CORPORATION 2NUNNB7D43COUIRE5295 AES CORP/THE AES CORP/THE 00130HCK9 900000.000000 PA USD 934272.900000 0.115345 Long DBT CORP US N 2 2055-01-15 Floating 7.6 N N N N N N PIMCO FUNDS LWVQWTQCFH3YG7CVH718 PIMCO PRV SHORT TERM FLT III MUTUAL FUND 000000000 4894177.180000 PA USD 47664391.580000 5.88464 Long STIV RF US N 1 N N N N/A N/A REVERSE REPO SOCIETE GENERALE REVERSE REPO 000000000 -7974834.620000 PA USD -8036658.630000 -0.992205 Short RA US N 2 Reverse repurchase N 4.740000 2025-10-08 8000000.000000 USD 8597715.800000 USD CDS N N N KBC GROEP NV 213800X3Q9LSAKRUWY91 KBC GROUP NV JR SUBORDINA REGS 12/99 VAR ACI2JH1W2 6400000.000000 PA 8359240.720000 1.03203 Long DBT CORP BE N 2 2028-09-05 Floating 8 N N N N N N UNITED STATES GOVT 254900HROIFWPRGM1V77 TREASURY BILL 10/25 0.00000 912797RC3 195000.000000 PA USD 194715.900000 0.0240396 Long DBT UST US N 2 2025-10-14 None 0 N N N N N N N/A N/A BOUGHT GBP SOLD USD 20251002 000000000 1.000000 NC -4054.210000 -0.0005005 N/A DFE GB N 2 STATE STREET CORPORATION 549300ZFEEJ2IP5VME73 1811599.100000 USD 1344000.000000 GBP 2025-10-02 -4054.210000 N N N SEMPRA PBBKGKLRK5S5C0Y4T545 SEMPRA SEMPRA 816851BT5 1200000.000000 PA USD 1227846.000000 0.15159 Long DBT CORP US N 2 2054-10-01 Floating 6.4 N N N N N N NEXTERA ENERGY CAPITAL HOLDINGS INC UMI46YPGBLUE4VGNNT48 NEXTERA ENERGY CAPITAL NEXTERA ENERGY CAPITAL 65339KDB3 5400000.000000 PA USD 5821853.400000 0.718766 Long DBT CORP US N 2 2054-06-15 Floating 6.75 N N N N N N TORONTO-DOMINION BANK PT3QB789TSUIDF371261 TORONTO DOMINION BANK JR SUBORDINA 07/84 VAR 89116CKP1 2000000.000000 PA USD 2107920.000000 0.260244 Long DBT CORP CA N 2 2084-07-31 Floating 7.25 N N N N Y TORONTO-DOMINION BANK TORONTO-DOMINION BANK CAD XXXX N N N AMERICAN ELECTRIC POWER COMPANY INC 1B4S6S7G0TW5EE83BO58 AMERICAN ELECTRIC POWER AMERICAN ELECTRIC POWER 025537BA8 2100000.000000 PA USD 2277980.940000 0.281239 Long DBT CORP US N 2 2054-12-15 Floating 6.95 N N N N N N FARM CREDIT BANK OF TEXAS V1EBJIOLRNYDHDF63Z33 FARM CREDIT BK OF TEXAS JR SUBORDINA 12/99 VAR 30767EAF6 2400000.000000 NS USD 2521440.000000 0.311297 Long EP USGSE US N 2 N N N NATIONWIDE BUILDING SOCIETY 549300XFX12G42QIKN82 NATIONWIDE BLDG SOCIETY NATIONWIDE BLDG SOCIETY ACI2R3KS2 1100000.000000 PA 1519599.220000 0.18761 Long DBT CORP GB N 2 2030-12-20 Floating 7.5 N N N N N N NOMURA HOLDINGS INC 549300B3CEAHYG7K8164 NOMURA HOLDINGS INC JR SUBORDINA 12/99 VAR 65535HCC1 2000000.000000 PA USD 2072772.000000 0.255904 Long DBT CORP JP N 2 2030-07-15 Floating 7 N N N N N N JT INTERNATIONAL FINANCIAL SERVICES BV 549300U2F0PG10VZUN93 JT INTL FIN SERVICES BV COMPANY GUAR REGS 09/55 VAR ACI2ZXVQ9 1700000.000000 PA 1995775.990000 0.246398 Long DBT CORP NL N 2 2055-09-04 Floating 3.87 N N N N N N N/A N/A SOLD GBP BOUGHT USD 20251002 000000000 1.000000 NC 19703.620000 0.0024326 N/A DFE GB N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 1310000.000000 GBP 1781521.920000 USD 2025-10-02 19703.620000 N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS GROUP AG JR SUBORDINA 144A 12/99 VAR 902613BS6 2000000.000000 PA USD 2040918.000000 0.251972 Long DBT CORP CH N 2 2035-02-05 Floating 7 N N N N Y UBS GROUP AG UBS GROUP AG-REG *PROXY* CHF XXXX N N N UBS GROUP AG 549300SZJ9VS8SGXAN81 UBS GROUP AG UBS GROUP AG 902613BF4 2900000.000000 PA USD 3206512.600000 0.395876 Long DBT CORP CH N 2 2028-11-13 Floating 9.25 N N N N Y UBS GROUP AG UBS GROUP AG-REG *PROXY* CHF XXXX N N N LA MONDIALE 969500L0T16HX3R78P61 LA MONDIALE LA MONDIALE ACI2Q1950 1900000.000000 PA 2376642.360000 0.29342 Long DBT CORP FR N 2 2034-01-17 Floating 6.75 N N N N N N ENTERPRISE PRODUCTS OPERATING LLC 5493004LGN656HWLDA30 ENTERPRISE PRODUCTS OPER COMPANY GUAR 02/78 VAR 29379VBR3 3400000.000000 PA USD 3381215.680000 0.417445 Long DBT CORP US N 2 2078-02-15 Floating 5.375 N N N N N N ALLY FINANCIAL INC 549300JBN1OSM8YNAI90 ALLY FINANCIAL INC JR SUBORDINA 12/99 VAR 02005NBN9 2200000.000000 NS USD 2028950.000000 0.250494 Long EP CORP US N 2 N N N GOLDMAN SACHS GROUP INC 784F5XWPLTWKTBV3E584 GOLDMAN SACHS GROUP INC JR SUBORDINA 12/99 VAR 38141GA38 4200000.000000 NS USD 4471530.000000 0.552055 Long EP CORP US N 2 N N N CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) 2IGI19DL77OX0HC3ZE78 CANADIAN IMPERIAL BANK JR SUBORDINA 10/85 VAR 13607P7Y4 7300000.000000 PA USD 7505677.500000 0.92665 Long DBT CORP CA N 2 2085-10-28 Floating 7 N N N N Y CANADIAN IMPERIAL BANK OF COMMERCE (CIBC) CAN IMPERIAL BK OF COMMERCE CAD XXXX N N N N/A N/A RFR USD SOFR/1.75000 06/15/22-30Y LCH 000000000 1.000000 NC USD -2017006.980000 -0.24902 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2052-06-15 0.000000 USD -1284903.190000 USD 5400000.000000 USD -732103.790000 N N N LIBERTY MUTUAL GROUP INC QUR0DG15Z6FFGYCHH861 LIBERTY MUTUAL GROUP INC COMPANY GUAR 144A 02/61 4.3 53079EBL7 4300000.000000 PA USD 2711726.500000 0.33479 Long DBT CORP US N 2 2061-02-01 Fixed 4.3 N N N N N N LEGAL & GENERAL GROUP PLC 213800JH9QQWHLO99821 LEGAL + GENERAL GROUP SUBORDINATED REGS 03/47 VAR ACI0T3452 3900000.000000 PA USD 3932183.000000 0.485467 Long DBT CORP GB N 2 2047-03-21 Floating 5.25 N N N N N N CHARLES SCHWAB CORP/THE 549300VSGCJ7E698NM85 CHARLES SCHWAB CORP JR SUBORDINA 12/99 VAR 808513AR6 4675000.000000 NS USD 4602911.500000 0.568275 Long EP CORP US N 2 N N N US BANCORP N1GZ7BBF3NP8GI976H15 US BANCORP JR SUBORDINA 12/99 VAR 902973AZ9 4400000.000000 NS USD 4395864.000000 0.542713 Long EP CORP US N 2 N N N ALFA BANK AO VIA ALFA BOND ISSUANCE PLC 54930015QM0G7XTNYR27 ALFA BANK (ALFA BOND) SUBORDINATED REGS 04/30 VAR ACI1G2134 5000000.000000 PA USD 300000.000000 0.037038 Long DBT CORP IE N 3 2030-04-15 Floating 5.95 Y Y N N N N BANK OF AMERICA CORPORATION 9DJT3UXIJIZJI4WXO774 BANK OF AMERICA CORP JR SUBORDINA 12/99 VAR 060505FL3 25910000.000000 NS USD 26204337.600000 3.23519 Long EP CORP US N 2 N N N AIB GROUP PLC (AKA: ALLIED IRISH BANKS) 635400AKJBGNS5WNQL34 AIB GROUP PLC JR SUBORDINA REGS 12/99 VAR ACI2NVX76 3200000.000000 PA 4034836.430000 0.498141 Long DBT CORP IE N 2 2029-10-30 Floating 7.125 N N N N N N N/A N/A RFR USD SOFR/3.25000 03/19/25-10Y LCH 000000000 1.000000 NC USD 1308496.840000 0.161547 N/A DIR US N 2 LONDON CLEARING HOUSE F226TOH6YD6XJB17KS62 N/A USD-SOFR-COMPOUND Y 2035-03-19 2483261.710000 USD 0.000000 USD 35800000.000000 USD -1174764.870000 N N N SIERRA PACIFIC POWER COMPANY QB888G5GSVGE1LD1WV84 SIERRA PACIFIC POWER CO JR SUBORDINA 12/55 VAR 826418BR5 3200000.000000 PA USD 3206044.800000 0.395818 Long DBT CORP US N 2 2055-12-15 Floating 6.2 N N N N N N N/A N/A SOLD EUR BOUGHT USD 20251104 000000000 1.000000 NC 145279.290000 0.0179362 N/A DFE N/A N 2 SOCIETE GENERALE O2RNE8IBXP4R0TD8PU41 74168203.350000 EUR 87396769.930000 USD 2025-11-04 145279.290000 N N N JP MORGAN CHASE & CO 8I5DZWZKVSZI1NUHU748 JPMORGAN CHASE + CO PREFERRED STOCK 4.625 48128B549 171000.000000 NS USD 3466170.000000 0.427933 Long EP CORP US N 1 N N N COMMERZBANK AG 851WYGNLUQLFZBSYGB56 COMMERZBANK AG JR SUBORDINA REGS 12/99 VAR ACI2PSFK2 2800000.000000 PA 3716495.290000 0.458838 Long DBT CORP DE N 2 2031-10-09 Floating 7.875 N N N N N N N/A N/A SOLD AUD BOUGHT USD 20251104 000000000 1.000000 NC -4250.740000 -0.0005248 N/A DFE AU N 2 WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 483467.000000 AUD 315810.310000 USD 2025-11-04 -4250.740000 N N N DOMINION ENERGY INC ILUL7B6Z54MRYCF6H308 DOMINION ENERGY INC JR SUBORDINA 05/55 VAR 25746UDV8 2100000.000000 PA USD 2176278.240000 0.268683 Long DBT CORP US N 2 2055-05-15 Floating 6.625 N N N N N N N/A N/A REVERSE REPO CREDIT AGRICOLE 03/14 VAR 000000000 -3334246.000000 PA USD -3340692.210000 -0.412442 Short RA US N 2 Reverse repurchase N 4.640000 2025-12-16 3600000.000000 USD 3680476.320000 USD CDS N N N SOUTH JERSEY INDUSTRIES INC 549300DJYWYT5VXLFA46 SOUTH JERSEY INDUSTRIES JR SUBORDINA 04/31 5.02 838518AA6 6600000.000000 PA USD 5672841.310000 0.700369 Long DBT CORP US N 2 2031-04-15 Variable 5.02 N N N N N N CVS HEALTH CORPORATION 549300EJG376EN5NQE29 CVS HEALTH CORP JR SUBORDINA 03/55 VAR 126650EH9 1500000.000000 PA USD 1577164.410000 0.194717 Long DBT CORP US N 2 2055-03-10 Floating 7 N N N N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 BARCLAYS PLC JR SUBORDINA REGS 12/99 VAR ACI2X73N6 2600000.000000 PA 3687094.080000 0.455208 Long DBT CORP GB N 2 2031-09-15 Floating 8.375 N N N N Y BARCLAYS PLC BARCLAYS PLC GBP XXXX N N N BEIGNET INVESTOR LLC N/A PROJECT BEIGNET SR SEC 144A PROJECT BEIGNET SR SEC 144A 990AAXQG4 5200000.000000 PA USD 5200000.000000 0.641992 Long DBT CORP US N 3 2049-06-01 Fixed 6.85 N N N N N N REINSURANCE GROUP OF AMERICA INCORPORATED LORM1GNEU1DKEW527V90 REINSURANCE GRP OF AMER SUBORDINATED 09/55 VAR 759351AT6 2000000.000000 PA USD 2101132.000000 0.259406 Long DBT CORP US N 2 2055-09-15 Floating 6.65 N N N N N N BARCLAYS PLC 213800LBQA1Y9L22JB70 BARCLAYS PLC BARCLAYS PLC ACI2P1YC8 6100000.000000 PA 8716711.720000 1.07616 Long DBT CORP GB N 2 2030-06-15 Floating 8.5 N N N N Y BARCLAYS PLC BARCLAYS PLC GBP XXXX N N N BRIGHTHOUSE HOLDINGS LLC N/A BRIGHTHOUSE HLDGS LLC JR SUBORDINA 144A VAR 10924BAA5 2000000.000000 NS USD 1775000.000000 0.219141 Long EP CORP US N 2 N N N ROYAL BANK OF CANADA ES7IP3U3RHIGC71XBU11 ROYAL BANK OF CANADA JR SUBORDINA 08/85 VAR 780082AV5 3900000.000000 PA USD 4027169.330000 0.497194 Long DBT CORP CA N 2 2085-08-24 Floating 6.75 N N N N Y ROYAL BANK OF CANADA ROYAL BANK OF CANADA CAD XXXX N N N COREBRIDGE FINANCIAL INC 549300XY1661QCIA7J65 COREBRIDGE FINANCIAL INC COREBRIDGE FINANCIAL INC 21871XAT6 2200000.000000 PA USD 2261223.800000 0.27917 Long DBT CORP US N 2 2054-09-15 Floating 6.375 N N N N N N ABN AMRO BANK NV BFXS5XCH7N0Y05NIXW11 ABN AMRO BANK NV ABN AMRO BANK NV ACI2N1YK2 4300000.000000 PA 5516047.740000 0.681011 Long DBT CORP NL N 2 2031-09-22 Floating 6.875 N N N N N N MORGAN STANLEY IGJSJL3JD5P30I6NJZ34 MORGAN STANLEY PREFERRED STOCK 6.625 61762V838 129200.000000 NS USD 3347572.000000 0.413291 Long EP CORP US N 1 N N N DEPOSITORY TRUST & CLEARING CORP (DTCC) MLDY5N6PZ58ZE60QU102 DEPOSITORY TRUST + CLEAR JR SUBORDINA 144A 12/99 VAR 249670AB6 10000000.000000 NS USD 9834900.000000 1.21422 Long EP CORP US N 2 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 CITIGROUP INC JR SUBORDINA 12/99 VAR 17327CAV5 12700000.000000 NS USD 13061823.000000 1.61261 Long EP CORP US N 2 N N N CITIGROUP INC 6SHGI4ZSSLCXXQSBB395 CITIGROUP INC JR SUBORDINA 12/99 VAR 17327CBC6 2000000.000000 NS USD 2064800.000000 0.25492 Long EP CORP US N 2 N N N BBVA BANCOMER SA/TAXAS BRANCH 549300WIWQK5Q9MCUN92 BBVA BANCOMER SA TEXAS SUBORDINATED REGS 02/35 VAR P2000GAA1 3500000.000000 PA USD 3690750.000000 0.45566 Long DBT CORP MX N 2 2035-02-11 Floating 7.625 N N N N N N CREDIT SUISSE GROUP AG 549300506SI9CRFV9Z86 CS AT1 CLAIMS US225401AR98 CREDIT SUISSE GROUP AG 952NPGII8 16100000.000000 PA USD 2093000.000000 0.258402 Long DBT CORP US N 2 2060-12-31 None 0 N N N N N N METLIFE INC C4BXATY60WC6XEOZDX54 METLIFE INC SUBORDINATED 03/55 VAR 59156RCQ9 2000000.000000 PA USD 2126792.000000 0.262574 Long DBT CORP US N 2 2055-03-15 Floating 6.35 N N N N N N FARM CREDIT BANK OF TEXAS V1EBJIOLRNYDHDF63Z33 FARM CREDIT BK OF TEXAS FARM CREDIT BK OF TEXAS 30767EAE9 4500000.000000 NS USD 4725450.000000 0.583404 Long EP USGSE US N 2 N N N N/A N/A BOUGHT AUD SOLD USD 20251002 000000000 1.000000 NC 4254.490000 0.0005253 N/A DFE AU N 2 WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 315655.600000 USD 483467.000000 AUD 2025-10-02 4254.490000 N N N 2025-11-26 PIMCO Funds /s/ Bijal Parikh Bijal Parikh Treasurer