NPORT-P false 0000837274 XXXXXXXX S000007329 C000020129 C000061791 C000020130 Franklin Templeton Variable Insurance Products Trust 811-05583 0000837274 549300PIBKZH7YTTWU55 One Franklin Parkway San Mateo 94403-1906 650-312-2000 Franklin Income VIP Fund S000007329 EC5RL2TXCF76ZEXHFH77 2025-12-31 2025-03-31 N 3157781831.36 18031422.80 3139750408.56 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 3970000.00000000 0.00000000 0.00000000 13261978.43000000 USD N 50% US High Div Yield + 25% High Yield Very Liquid + 25% US Agg Index HB10288 UBS AG into Bank of America Corp. BFM8T61CT2L1QCEMIK50 90301T830 500000.00000000 NS USD 21476306.03000000 0.684013161410 Long SN CORP CH N 2 2026-01-28 Fixed 8.00000000 N N N N N N United States of America 254900HROIFWPRGM1V77 912810TJ7 40000000.00000000 PA USD 29796093.60000000 0.948995611841 Long DBT UST US N 2 2052-08-15 Fixed 3.00000000 N N N N N N Bombardier, Inc. W7L3VLU8EHQY34Z36697 097751CB5 4250000.00000000 PA USD 4269768.79000000 0.135990707361 Long DBT CORP CA N 2 2031-07-01 Fixed 7.25000000 N N N N N N Shell plc 21380068P1DRHMJ8KU70 780259305 250000.00000000 NS USD 18320000.00000000 0.583485870407 Long EC CORP GB N 1 N N N CHS/Community Health Systems, Inc. 5493007X5NC5XI1BB106 12543DBN9 25500000.00000000 PA USD 25153730.40000000 0.801137897185 Long DBT CORP US N 2 2032-01-15 Fixed 10.87500000 N N N N N N CCO Holdings LLC / CCO Holdings Capital Corp. N/A 1248EPBX0 10000000.00000000 PA USD 9713304.80000000 0.309365507956 Long DBT CORP US N 2 2028-02-01 Fixed 5.00000000 N N N N N N Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. N/A 03969AAR1 5700000.00000000 PA USD 2638555.76000000 0.084037118135 Long DBT CORP US N 2 2027-08-15 Fixed 5.25000000 N N N N N N Exxon Mobil Corp. J3WHBG0MTS7O8ZVMDC91 30231G102 425000.00000000 NS USD 50545250.00000000 1.609849300829 Long EC CORP US N 1 N N N AerCap Ireland Capital DAC / AerCap Global Aviation Trust N/A 00774MBH7 5000000.00000000 PA USD 4973401.20000000 0.158401164195 Long DBT CORP IE N 2 2034-01-19 Fixed 5.30000000 N N N N N N Celanese US Holdings LLC CD30XVRLT4QO00B1C706 15089QAM6 12000000.00000000 PA USD 12206341.80000000 0.388767902274 Long DBT CORP US N 2 2027-07-15 Fixed 6.41499840 N N N N N N Microchip Technology, Inc. 5493007PTFULNYZJ1R12 595017104 146059.00000000 NS USD 7070716.19000000 0.225199944897 Long EC CORP US N 1 N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWMY6 16624705.22500000 PA USD 16611097.41000000 0.529057894688 Long ABS-MBS USGSE US N 2 2054-11-01 Fixed 5.50000000 N N N N N N Calumet Specialty Products Partners LP / Calumet Finance Corp. N/A 131477AX9 5500000.00000000 PA USD 5685625.00000000 0.181085253926 Long DBT CORP US N 2 2029-07-15 Fixed 9.25000000 N N N N N N Mizuho Markets Cayman LP into Exxon Mobil Corp. 549300KHUXLS6Q30KT26 60701E246 159000.00000000 NS USD 18599408.92000000 0.592384951023 Long SN CORP KY N 2 2026-04-07 Fixed 8.50000000 N N N N N N Novolex Holdings LLC N/A N/A 3931271.48000000 PA USD 3914072.17000000 0.124661889025 Long LON CORP US N 2 2032-03-01 Variable 0.00000000 N N N N N N NextEra Energy Capital Holdings, Inc. UMI46YPGBLUE4VGNNT48 65339KCU2 8000000.00000000 PA USD 8008820.32000000 0.255078247562 Long DBT CORP US N 2 2034-03-15 Fixed 5.25000000 N N N N N N UnitedHealth Group, Inc. 549300GHBMY8T5GXDE41 91324PER9 10000000.00000000 PA USD 10256194.90000000 0.326656375998 Long DBT CORP US N 2 2033-02-15 Fixed 5.35000000 N N N N N N Mauser Packaging Solutions Holding Co. 549300DNGHXL0OMHW304 57763RAD9 7000000.00000000 PA USD 6868750.00000000 0.218767389320 Long DBT CORP US N 2 2027-04-15 Fixed 7.87500000 N N N N N N NRG Energy, Inc. 5E2UPK5SW04M13XY7I38 629377CY6 20000000.00000000 PA USD 19724218.00000000 0.628209743877 Long DBT CORP US N 2 2029-07-15 Fixed 5.75000000 N N N N N N Citigroup Global Markets Holdings, Inc. into Boeing Co. (The) 82VOJDD5PTRDMVVMGV31 17331V485 79900.00000000 NS USD 12817218.38000000 0.408224116957 Long SN CORP US N 2 2025-12-08 Fixed 8.50000000 N N N N N N Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. N/A 03969AAP5 5000000.00000000 PA USD 2314522.60000000 0.073716770406 Long DBT CORP US N 2 2027-08-15 Fixed 5.25000000 N N N N N N 1375209 BC Ltd. N/A 68251PAA5 6374000.00000000 PA USD 6373047.72000000 0.202979437557 Long DBT CORP CA N 2 2028-01-30 Fixed 9.00000000 N N N N N N UBS AG into Apple, Inc. BFM8T61CT2L1QCEMIK50 90301T558 39000.00000000 NS USD 7466027.86000000 0.237790489321 Long SN CORP CH N 2 2025-04-02 Fixed 7.00000000 N N N N N N National Bank of Canada into Broadcom, Inc. N/A N/A 8000.00000000 NS USD 11123658.52000000 0.354284802055 Long SN CORP US N 2 2025-05-13 Fixed 11.50000000 N N N N N N General Motors Co. 54930070NSV60J38I987 37045VAZ3 5000000.00000000 PA USD 4960844.05000000 0.158001223169 Long DBT CORP US N 2 2032-10-15 Fixed 5.60000000 N N N N N N Merrill Lynch International & Co. CV into Halliburton Co. 549300RQ1D1WIE085245 59027W260 225000.00000000 NS USD 5895772.52000000 0.187778382126 Long SN CORP NL N 2 2025-11-13 Fixed 8.50000000 N N N N N N Univision Communications, Inc. 549300YQDE2JSGTL8V47 914906AU6 4500000.00000000 PA USD 4466467.80000000 0.142255505017 Long DBT CORP US N 2 2027-06-01 Fixed 6.62500000 N N N N N N CCO Holdings LLC / CCO Holdings Capital Corp. N/A 1248EPCD3 2500000.00000000 PA USD 2320953.83000000 0.073921602929 Long DBT CORP US N 2 2030-03-01 Fixed 4.75000000 N N N N N N CVS Health Corp. 549300EJG376EN5NQE29 126650DU1 5000000.00000000 PA USD 4938532.45000000 0.157290606174 Long DBT CORP US N 2 2033-02-21 Fixed 5.25000000 N N N N N N Citigroup Global Markets Holdings, Inc. into Intel Corp. 82VOJDD5PTRDMVVMGV31 17332B207 541000.00000000 NS USD 12769167.12000000 0.406693700403 Long SN CORP US N 2 2026-03-03 Fixed 10.00000000 N N N N N N Clear Channel Outdoor Holdings, Inc. 254900XBEE6V1ENYS150 18453HAA4 5582436.00000000 PA USD 5400693.54000000 0.172010282259 Long DBT CORP US N 2 2027-08-15 Fixed 5.12500000 N N N N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWHT3 8021129.57000000 PA USD 8030732.71000000 0.255776149852 Long ABS-MBS USGSE US N 2 2053-07-01 Fixed 5.50000000 N N N N N N Wells Fargo Bank NA into Citigroup, Inc. N/A N/A 130000.00000000 NS USD 9610283.84000000 0.306084324849 Long SN CORP US N 2 2026-02-25 Fixed 8.50000000 N N N N N N United States of America 254900HROIFWPRGM1V77 91282CEP2 70000000.00000000 PA USD 64771875.00000000 2.062962547067 Long DBT UST US N 2 2032-05-15 Fixed 2.87500000 N N N N N N Quikrete Holdings, Inc. 5493007KIN86DIZWZT22 74843PAA8 6500000.00000000 PA USD 6546572.50000000 0.208506143741 Long DBT CORP US N 2 2032-03-01 Fixed 6.37500000 N N N N N N Merrill Lynch BV into Microsoft Corp 549300RQ1D1WIE085245 59027W237 25600.00000000 NS USD 9883537.69000000 0.314787368545 Long SN CORP NL N 2 2025-10-06 Fixed 7.50000000 N N N N N N Ford Motor Credit Co. LLC UDSQCVRUX5BONN0VY111 345397C68 1500000.00000000 PA USD 1570516.92000000 0.050020438430 Long DBT CORP US N 2 2030-03-06 Fixed 7.35000000 N N N N N N NextEra Energy, Inc. 254900RHL9MEUS5NKX63 65339F101 332379.00000000 NS USD 23562347.31000000 0.750452878221 Long EC CORP US N 1 N N N Pilgrim's Pride Corp. 549300ZSLGV64ZL3HD75 72147KAK4 4000000.00000000 PA USD 4145548.00000000 0.132034316762 Long DBT CORP US N 2 2033-07-01 Fixed 6.25000000 N N N N N N JPMorgan Chase Bank NA into Boeing Co. (The) N/A N/A 65000.00000000 NS USD 11149727.65000000 0.355115095123 Long SN CORP US N 2 2026-01-22 Fixed 10.00000000 N N N N N N Goldman Sachs Group, Inc. (The) 784F5XWPLTWKTBV3E584 38141GA53 17000000.00000000 PA USD 18562555.34000000 0.591211176830 Long DBT CORP US N 2 2034-10-24 Fixed 6.56100000 N N N N N N Dornoch Debt Merger Sub, Inc. N/A 25830JAA9 11945000.00000000 PA USD 9098084.36000000 0.289770942785 Long DBT CORP US N 2 2029-10-15 Fixed 6.62500000 N N N N N N UBS AG into Target Corp. BFM8T61CT2L1QCEMIK50 90301T681 28200.00000000 NS USD 3020891.81000000 0.096214393404 Long SN CORP CH N 2 2025-09-15 Fixed 10.00000000 N N N N N N U.S. Treasury Bills 254900HROIFWPRGM1V77 912797NZ6 25000000.00000000 PA USD 24958800.50000000 0.794929445090 Long STIV UST US N 2 2025-04-15 None 0.00000000 N N N N N N FMG Resources August 2006 Pty. Ltd. 549300EFD6S2NFE9D745 30251GBD8 5000000.00000000 PA USD 4941925.30000000 0.157398667312 Long DBT CORP AU N 2 2030-04-15 Fixed 5.87500000 N N N N N N Occidental Petroleum Corp. IM7X0T3ECJW4C1T7ON55 674599ED3 6000000.00000000 PA USD 6307032.00000000 0.200876858963 Long DBT CORP US N 2 2030-09-01 Fixed 6.62500000 N N N N N N Edison International 549300I7ROF15MAEVP56 281020107 75000.00000000 NS USD 4419000.00000000 0.140743671469 Long EC CORP US N 1 N N N Delta Air Lines, Inc. / SkyMiles IP Ltd. N/A 830867AB3 10000000.00000000 PA USD 9961547.70000000 0.317271961262 Long DBT CORP US N 2 2028-10-20 Fixed 4.75000000 N N N N N N Johnson & Johnson 549300G0CFPGEF6X2043 478160104 350000.00000000 NS USD 58044000.00000000 1.848681979362 Long EC CORP US N 1 N N N Mizuho Markets Cayman LP into Intel Corp. 549300KHUXLS6Q30KT26 6068FR816 615000.00000000 NS USD 14052956.07000000 0.447581948924 Long SN CORP KY N 2 2025-12-08 Fixed 10.00000000 N N N N N N Merck & Co., Inc. 4YV9Y5M8S0BRK1RP0397 58933Y105 250000.00000000 NS USD 22440000.00000000 0.714706491917 Long EC CORP US N 1 N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61747YEY7 8650000.00000000 PA USD 9283144.28000000 0.295665039319 Long DBT CORP US N 2 2033-10-18 Fixed 6.34200000 N N N N N N JBS USA Holding LUX SARL / JBS USA Food Co. / JBS LUX Co. SARL N/A 46590XAY2 8000000.00000000 PA USD 8132280.00000000 0.259010397063 Long DBT CORP LU N 2 2033-04-01 Fixed 5.75000000 N N N N N N Pfizer, Inc. 765LHXWGK1KXCLTFYQ30 717081103 1059816.00000000 NS USD 26855737.44000000 0.855346251943 Long EC CORP US N 1 N N N Calpine Corp. 43R4VPJBXTU2O15HEF41 131347CN4 12500000.00000000 PA USD 12310106.50000000 0.392072773250 Long DBT CORP US N 2 2028-03-15 Fixed 5.12500000 N N N N N N PNC Financial Services Group, Inc. (The) CFGNEKW0P8842LEUIA51 693475BJ3 8000000.00000000 PA USD 8402143.44000000 0.267605457334 Long DBT CORP US N 2 2033-10-28 Fixed 6.03700000 N N N N N N Tenet Healthcare Corp. 0W9AIBT6U6ADJ2I8HK17 88033GDK3 19400000.00000000 PA USD 19323364.76000000 0.615442702302 Long DBT CORP US N 2 2028-10-01 Fixed 6.12500000 N N N N N N Citigroup Global Markets Holdings, Inc. into Newmont Corp. 82VOJDD5PTRDMVVMGV31 17332B173 250000.00000000 NS USD 11236649.71000000 0.357883533651 Long SN CORP US N 2 2026-02-18 Fixed 9.50000000 N N N N N N United Airlines Pass-Through Trust N/A 90932LAJ6 6018478.23000000 PA USD 6122209.11000000 0.194990311755 Long ABS-O CORP US N 2 2036-01-15 Fixed 5.80000000 N N N N N N BNP Paribas SA into International Paper Co. R0MUWSFPU8MPRO8K5P83 N/A 125000.00000000 NS USD 6307843.92000000 0.200902718343 Long SN CORP FR N 2 2025-10-20 Fixed 9.00000000 N N N N N N Ford Motor Co. 20S05OYHG0MQM4VUIC57 345370DB3 7000000.00000000 PA USD 6866445.25000000 0.218693983804 Long DBT CORP US N 2 2032-08-19 Fixed 6.10000000 N N N N N N CHS/Community Health Systems, Inc. 5493007X5NC5XI1BB106 12543DBD1 5000000.00000000 PA USD 4952507.50000000 0.157735706841 Long DBT CORP US N 2 2027-12-15 Fixed 8.00000000 N N N N N N Wells Fargo Bank NA into Schlumberger NV N/A N/A 206500.00000000 NS USD 8732947.64000000 0.278141460422 Long SN CORP US N 2 2025-11-26 Fixed 10.00000000 N N N N N N Rain Carbon, Inc. 25490038N6JQH7QXUK52 75079LAB7 7300000.00000000 PA USD 7763885.80000000 0.247277165052 Long DBT CORP US N 2 2029-09-01 Fixed 12.25000000 N N N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 172967PA3 24500000.00000000 PA USD 26011008.10000000 0.828441905098 Long DBT CORP US N 2 2033-11-17 Fixed 6.27000000 N N N N N N Medline Borrower LP 254900QT3R363TVK6F09 62482BAA0 10000000.00000000 PA USD 9354184.00000000 0.297927630632 Long DBT CORP US N 2 2029-04-01 Fixed 3.87500000 N N N N N N United Parcel Service, Inc. D01LMJZU09ULLNCY6Z23 911312106 139000.00000000 NS USD 15288610.00000000 0.486937113164 Long EC CORP US N 1 N N N Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp. N/A 983130AX3 6000000.00000000 PA USD 5940976.80000000 0.189218123319 Long DBT CORP US N 2 2027-05-15 Fixed 5.25000000 N N N N N N Marvell Technology, Inc. N/A 573874104 50000.00000000 NS USD 3078500.00000000 0.098049194980 Long EC CORP US N 1 N N N Regal Rexnord Corp. QH78R09VCJGQKPBPYU33 758750AP8 5000000.00000000 PA USD 5192237.65000000 0.165371031908 Long DBT CORP US N 2 2033-04-15 Fixed 6.40000000 N N N N N N RR Donnelley & Sons Co. SU4X0P4WWRGOQDTSV032 257867BJ9 2000000.00000000 PA USD 1983032.00000000 0.063158905707 Long DBT CORP US N 2 2029-08-01 Fixed 9.50000000 N N N N N N Barclays Bank plc into International Business Machines Corp. G5GSEF7VJP5I7OUK5573 06748N145 75000.00000000 NS USD 14498884.21000000 0.461784610982 Long SN CORP GB N 2 2025-06-09 Fixed 8.50000000 N N N N N N Johnson Controls International plc 549300XQ6S1GYKGBL205 N/A 200000.00000000 NS USD 16022000.00000000 0.510295339282 Long EC CORP IE N 1 N N N American Tower Corp. 5493006ORUSIL88JOE18 03027XBZ2 5000000.00000000 PA USD 5155850.90000000 0.164212126095 Long DBT CORP US N 2 2033-03-15 Fixed 5.65000000 N N N N N N American Airlines, Inc. IWUQB36BXD6OWD6X4T14 023771T40 7000000.00000000 PA USD 7110749.17000000 0.226474981916 Long DBT CORP US N 2 2029-05-15 Fixed 8.50000000 N N N N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 46647PDY9 3000000.00000000 PA USD 3223075.14000000 0.102653864817 Long DBT CORP US N 2 2034-10-23 Fixed 6.25400000 N N N N N N CHS/Community Health Systems, Inc. 5493007X5NC5XI1BB106 12543DBJ8 41250000.00000000 PA USD 26791413.00000000 0.853297540051 Long DBT CORP US N 2 2029-04-15 Fixed 6.87500000 N N N N N N US Bancorp N1GZ7BBF3NP8GI976H15 91159HJJ0 10000000.00000000 PA USD 10367692.60000000 0.330207540438 Long DBT CORP US N 2 2033-10-21 Fixed 5.85000000 N N N N N N Home Depot, Inc. (The) QEKMOTMBBKA8I816DO57 437076102 80000.00000000 NS USD 29319200.00000000 0.933806710242 Long EC CORP US N 1 N N N Kinder Morgan, Inc. 549300WR7IX8XE0TBO16 494553AE0 8000000.00000000 PA USD 7995310.80000000 0.254647973870 Long DBT CORP US N 2 2034-02-01 Fixed 5.40000000 N N N N N N Calumet Specialty Products Partners LP / Calumet Finance Corp. N/A 131477AV3 8820000.00000000 PA USD 8150889.57000000 0.259603105641 Long DBT CORP US N 2 2027-01-15 Fixed 8.12500000 N N N N N N United Airlines, Inc. K1OQBWM7XEOO08LDNP29 90932LAH0 8750000.00000000 PA USD 8286557.21000000 0.263924074582 Long DBT CORP US N 2 2029-04-15 Fixed 4.62500000 N N N N N N Wells Fargo Bank NA into QUALCOMM, Inc. N/A N/A 68500.00000000 NS USD 10832754.70000000 0.345019612720 Long SN CORP US N 2 2025-10-22 Fixed 10.00000000 N N N N N N Bausch Health Cos., Inc. B3BS7ACMDUWISF18KY76 071734107 200000.00000000 NS USD 1294000.00000000 0.041213467047 Long EC CORP CA N 1 N N BNP Paribas Issuance BV into Applied Materials, Inc. R0MUWSFPU8MPRO8K5P83 N/A 60000.00000000 NS USD 9106501.49000000 0.290039025559 Long SN CORP FR N 2 2025-12-10 Fixed 10.00000000 N N N N N N Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. N/A 31556TAA7 3500000.00000000 PA USD 3226320.65000000 0.102757233224 Long DBT CORP US N 2 2029-01-15 Fixed 4.62500000 N N N N N N Calumet Specialty Products Partners LP / Calumet Finance Corp. N/A 131477AY7 13186000.00000000 PA USD 13275124.17000000 0.422808263160 Long DBT CORP US N 2 2026-04-15 Fixed 11.00000000 N N N N N N Vistra Operations Co. LLC 549300ZH5GKBTJZ7NM23 92840VAP7 4700000.00000000 PA USD 4926233.33000000 0.156898883317 Long DBT CORP US N 2 2031-10-15 Fixed 7.75000000 N N N N N N Mauser Packaging Solutions Holding Co. 549300DNGHXL0OMHW304 57763RAC1 16932000.00000000 PA USD 15992669.19000000 0.509361162798 Long DBT CORP US N 2 2027-04-15 Fixed 9.25000000 N N N N N N Cleveland-Cliffs, Inc. 549300TM2WLI2BJMDD86 185899AR2 3000000.00000000 PA USD 2881769.82000000 0.091783404570 Long DBT CORP US N 2 2033-05-01 Fixed 7.37500000 N N N N N N General Motors Co. 54930070NSV60J38I987 37045VAP5 13500000.00000000 PA USD 12230571.92000000 0.389539623489 Long DBT CORP US N 2 2038-04-01 Fixed 5.15000000 N N N N N N Twitter, Inc. N/A 90184NAG3 7750000.00000000 PA USD 7711250.00000000 0.245600732433 Long LON CORP US N 2 2029-10-26 Variable 10.97878000 N N N N N N Wells Fargo & Co. PBLD0EJDB5FWOLXP3B76 95000U3F8 15500000.00000000 PA USD 15777692.73000000 0.502514234474 Long DBT CORP US N 2 2034-07-25 Fixed 5.55700000 N N N N N N Toronto-Dominion Bank (The) into Starbucks Corp. PT3QB789TSUIDF371261 891160A52 190000.00000000 NS USD 18591244.20000000 0.592124907423 Long SN CORP CA N 2 2026-01-12 Fixed 9.00000000 N N N N N N Venture Global LNG, Inc. 54930011XLBUWMQUC829 92332YAF8 10250000.00000000 PA USD 9735233.11000000 0.310063917292 Long DBT CORP US N 2 2029-09-30 Fixed 9.00000000 N N N N N N Albemarle Corp. HDBLS2Q6GV1LSKQPBS54 012653200 230000.00000000 NS USD 8199500.00000000 0.261151331572 Long EP CORP US N 1 N N N Southern Co. (The) 549300FC3G3YU2FBZD92 842587107 360000.00000000 NS USD 33102000.00000000 1.054287624575 Long EC CORP US N 1 N N N JPMorgan Chase Bank NA into CVS Health Corp. N/A N/A 145000.00000000 NS USD 9223620.98000000 0.293769242129 Long SN CORP US N 2 2025-11-25 Fixed 9.00000000 N N N N N N FNMA B1V7KEBTPIMZEU4LTD58 31418FED5 6798440.46000000 PA USD 6792875.80000000 0.216350821437 Long ABS-MBS USGSE US N 2 2054-11-01 Fixed 5.50000000 N N N N N N Citigroup, Inc. 6SHGI4ZSSLCXXQSBB395 172967424 50000.00000000 NS USD 3549500.00000000 0.113050387391 Long EC CORP US N 1 N N N CHS/Community Health Systems, Inc. 5493007X5NC5XI1BB106 12543DBE9 25000000.00000000 PA USD 16575617.50000000 0.527927871426 Long DBT CORP US N 2 2028-04-01 Fixed 6.87500000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 14040HCV5 6070000.00000000 PA USD 6111053.78000000 0.194635018227 Long DBT CORP US N 2 2030-07-26 Fixed 5.24700000 N N N N N N Broadcom, Inc. 549300WV6GIDOZJTV909 11135FBT7 10000000.00000000 PA USD 9488908.60000000 0.302218564065 Long DBT CORP US N 2 2032-04-15 Fixed 4.15000000 N N N N N N Vistra Corp. 549300KP43CPCUJOOG15 92840MAC6 7800000.00000000 PA USD 7904894.40000000 0.251768241782 Long DBT CORP US N 2 2026-12-15 Fixed 7.00000000 N N N N N N DaVita, Inc. M2XHYMU3TZNEZURC6H66 23918KAT5 2500000.00000000 PA USD 2178667.00000000 0.069389815001 Long DBT CORP US N 2 2031-02-15 Fixed 3.75000000 N N N N N N Carnival Corp. F1OF2ZSX47CR0BCWA982 143658BL5 20000000.00000000 PA USD 20018360.80000000 0.637578093641 Long DBT CORP PA N 2 2026-03-01 Fixed 7.62500000 N N N N N N LyondellBasell Industries NV BN6WCCZ8OVP3ITUUVN49 N/A 110000.00000000 NS USD 7744000.00000000 0.246643808975 Long EC CORP NL N 1 N N N ArcelorMittal SA 2EULGUTUI56JI9SAL165 03938LBF0 12000000.00000000 PA USD 12921300.12000000 0.411539085551 Long DBT CORP LU N 2 2032-11-29 Fixed 6.80000000 N N N N N N Calpine Corp. 43R4VPJBXTU2O15HEF41 131347CM6 5000000.00000000 PA USD 4851252.95000000 0.154510783302 Long DBT CORP US N 2 2028-02-15 Fixed 4.50000000 N N N N N N VICI Properties LP 254900X4QE7SGKQLLN38 925650AD5 10000000.00000000 PA USD 9796438.00000000 0.312013272561 Long DBT CORP US N 2 2032-05-15 Fixed 5.12500000 N N N N N N International Flavors & Fragrances, Inc. BZLRL03D3GPGMOGFO832 459506AQ4 5500000.00000000 PA USD 4756264.32000000 0.151485427218 Long DBT CORP US N 2 2030-11-01 Fixed 2.30000000 N N N N N N CommScope LLC 549300Z6K4JXMFE8QY54 20338QAA1 10000000.00000000 PA USD 9481917.10000000 0.301995887130 Long DBT CORP US N 2 2027-03-01 Fixed 8.25000000 N N N N N N SCIH Salt Holdings, Inc. N/A 78433BAB4 5500000.00000000 PA USD 5290051.86000000 0.168486381770 Long DBT CORP US N 2 2029-05-01 Fixed 6.62500000 N N N N N N Wells Fargo Bank NA into UnitedHealth Group, Inc. KB1H1DSPRFMYMCUFXT09 95003R867 17000.00000000 NS USD 8579807.04000000 0.273263983551 Long SN CORP US N 2 2025-07-14 Fixed 7.00000000 N N N N N N Wynn Resorts Finance LLC / Wynn Resorts Capital Corp. N/A 983133AD1 15000000.00000000 PA USD 14623205.85000000 0.465744213620 Long DBT CORP US N 2 2033-03-15 Fixed 6.25000000 N N N N N N AstraZeneca plc PY6ZZQWO2IZFZC3IOL08 046353108 125000.00000000 NS USD 9187500.00000000 0.292618801002 Long EC CORP GB N 1 N N N Truist Financial Corp. 549300DRQQI75D2JP341 89788NAA8 4000000.00000000 PA USD 3819658.60000000 0.121654848410 Long DBT CORP US N 2 2033-07-28 Fixed 4.91600000 N N N N N N Ardagh Packaging Finance plc / Ardagh Holdings USA, Inc. N/A 03969AAN0 11000000.00000000 PA USD 10118405.00000000 0.322267813785 Long DBT CORP US N 2 2026-08-15 Fixed 4.12500000 N N N N N N Williams Cos., Inc. (The) D71FAKCBLFS2O0RBPG08 969457CJ7 5000000.00000000 PA USD 5125361.90000000 0.163241061647 Long DBT CORP US N 2 2033-03-15 Fixed 5.65000000 N N N N N N TransDigm, Inc. 88Q84GB3X55CF5OC7582 893647BR7 5000000.00000000 PA USD 5079270.00000000 0.161773050053 Long DBT CORP US N 2 2028-08-15 Fixed 6.75000000 N N N N N N FNMA B1V7KEBTPIMZEU4LTD58 313586810 475.00000000 NS USD 17218750.00000000 0.548411426368 Long EP CORP US N 2 N N N FMG Resources August 2006 Pty. Ltd. 549300EFD6S2NFE9D745 30251GBC0 6000000.00000000 PA USD 5424556.20000000 0.172770299996 Long DBT CORP AU N 2 2031-04-01 Fixed 4.37500000 N N N N N N Expand Energy Corp. X2MT1W32SPAZ9WSKLE78 165167DG9 9500000.00000000 PA USD 9490277.70000000 0.302262169442 Long DBT CORP US N 2 2029-02-01 Fixed 5.87500000 N N N N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWG80 16036063.94700000 PA USD 15756669.69000000 0.501844657684 Long ABS-MBS USGSE US N 2 2053-05-01 Fixed 5.00000000 N N N N N N Barclays Bank plc into Target Corp. N/A N/A 75000.00000000 NS USD 8227358.19000000 0.262038605602 Long SN CORP US N 2 2025-12-29 Fixed 10.00000000 N N N N N N Medtronic plc 549300GX3ZBSQWUXY261 N/A 100000.00000000 NS USD 8986000.00000000 0.286201093421 Long EC CORP IE N 1 N N N UBS AG into Oracle Corp. BFM8T61CT2L1QCEMIK50 90301T616 105000.00000000 NS USD 13822830.05000000 0.440252512184 Long SN CORP CH N 2 2025-06-10 Fixed 9.00000000 N N N N N N Merrill Lynch International & Co. CV into Microsoft Corp. 549300RQ1D1WIE085245 59027W328 32655.00000000 NS USD 12510873.38000000 0.398467131205 Long SN CORP NL N 2 2026-03-09 Fixed 7.00000000 N N N N N N Air Products and Chemicals, Inc. 7QEON6Y1RL5XR3R1W237 009158106 80000.00000000 NS USD 23593600.00000000 0.751448265941 Long EC CORP US N 1 N N N GNMA 549300M8ZYFG0OCMTT87 3618N5GQ6 5903905.83000000 PA USD 5997967.86000000 0.191033269512 Long ABS-MBS USGA US N 2 2055-02-20 Fixed 6.00000000 N N N N N N GE HealthCare Technologies, Inc. 549300OI9J7XOWZMUN85 36267VAK9 7500000.00000000 PA USD 7918437.23000000 0.252199576387 Long DBT CORP US N 2 2032-11-22 Fixed 5.90500000 N N N N N N Philip Morris International, Inc. HL3H1H2BGXWVG3BSWR90 718172109 130000.00000000 NS USD 20634900.00000000 0.657214660876 Long EC CORP US N 1 N N N Merrill Lynch International & Co. CV into Morgan Stanley 549300RQ1D1WIE085245 59027W211 100000.00000000 NS USD 10452278.91000000 0.332901586110 Long SN CORP NL N 2 2025-07-14 Fixed 9.00000000 N N N N N N American Airlines, Inc. / AAdvantage Loyalty IP Ltd. N/A 00253XAA9 6250000.00500000 PA USD 6237627.19000000 0.198666338986 Long DBT CORP US N 2 2026-04-20 Fixed 5.50000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61747YFE0 5700000.00000000 PA USD 5705170.13000000 0.181707759777 Long DBT CORP US N 2 2034-04-21 Fixed 5.25000000 N N N N N N Endo, Inc. N/A 292ESCB17 4500000.00000000 PA USD 0.00000000 0.000000 Long DBT CORP IE N 3 2024-10-15 Fixed 0.00000000 N N N N N N Comcast Corp. 51M0QTTNCGUN7KFCFZ59 20030N101 575000.00000000 NS USD 21217500.00000000 0.675770275947 Long EC CORP US N 1 N N N Xcel Energy, Inc. LGJNMI9GH8XIDG5RCM61 98389B100 130000.00000000 NS USD 9202700.00000000 0.293102915916 Long EC CORP US N 1 N N N United Rentals North America, Inc. NGIZXNT70J2LYT3FBI09 911365BQ6 8000000.00000000 PA USD 8137831.20000000 0.259187200925 Long DBT CORP US N 2 2029-12-15 Fixed 6.00000000 N N N N N N United States of America 254900HROIFWPRGM1V77 912810UE6 10000000.00000000 PA USD 9856250.00000000 0.313918264748 Long DBT UST US N 2 2054-11-15 Fixed 4.50000000 N N N N N N Royal Bank of Canada into Texas Instruments, Inc. ES7IP3U3RHIGC71XBU11 779942184 160000.00000000 NS USD 28973519.90000000 0.922796914716 Long SN CORP CA N 2 2025-06-11 Fixed 8.00000000 N N N N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWNK5 5987046.97400000 PA USD 5982146.58000000 0.190529367037 Long ABS-MBS USGSE US N 2 2055-01-01 Fixed 5.50000000 N N N N N N MPH Acquisition Holdings LLC 5493002WXOPRPTXWTU06 553283AG7 4311514.00000000 PA USD 3130892.12000000 0.099717866473 Long DBT CORP US N 2 2030-12-31 Fixed 5.75000000 N N N N N N GNMA 549300M8ZYFG0OCMTT87 3618N5EW5 15336924.70000000 PA USD 15581275.81000000 0.496258421291 Long ABS-MBS USGA US N 2 2055-01-20 Fixed 6.00000000 N N N N N N BAT Capital Corp. 2138005GYEXN7XRHFA84 054989AB4 6000000.00000000 PA USD 6406800.54000000 0.204054453581 Long DBT CORP US N 2 2033-08-02 Fixed 6.42100000 N N N N N N Cisco Systems, Inc. 549300LKFJ962MZ46593 17275R102 600000.00000000 NS USD 37026000.00000000 1.179265711664 Long EC CORP US N 1 N N N Workday, Inc. 549300J0DYC0N31V7G13 98138HAJ0 10000000.00000000 PA USD 9259615.60000000 0.294915658733 Long DBT CORP US N 2 2032-04-01 Fixed 3.80000000 N N N N N N PepsiCo, Inc. FJSUNZKFNQ5YPJ5OT455 713448108 230000.00000000 NS USD 34486200.00000000 1.098373931443 Long EC CORP US N 1 N N N BNP Paribas Issuance BV into Advanced Micro Devices, Inc. R0MUWSFPU8MPRO8K5P83 N/A 75000.00000000 NS USD 7921783.32000000 0.252306148234 Long SN CORP FR N 2 2026-03-02 Fixed 10.00000000 N N N N N N Freeport-McMoRan, Inc. 549300IRDTHJQ1PVET45 35671DCH6 8000000.00000000 PA USD 7822048.00000000 0.249129611661 Long DBT CORP US N 2 2030-08-01 Fixed 4.62500000 N N N N N N Fifth Third Bancorp THRNG6BD57P9QWTQLG42 316773100 200000.00000000 NS USD 7840000.00000000 0.249701376855 Long EC CORP US N 1 N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 46625H100 100000.00000000 NS USD 24530000.00000000 0.781272292635 Long EC CORP US N 1 N N N Occidental Petroleum Corp. IM7X0T3ECJW4C1T7ON55 674599EL5 3000000.00000000 PA USD 2933093.40000000 0.093418043421 Long DBT CORP US N 2 2034-10-01 Fixed 5.55000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 617446448 200000.00000000 NS USD 23334000.00000000 0.743180092799 Long EC CORP US N 1 N N N FNMA B1V7KEBTPIMZEU4LTD58 31418ER77 16015270.07400000 PA USD 15736236.66000000 0.501193872516 Long ABS-MBS USGSE US N 2 2053-05-01 Fixed 5.00000000 N N N N N N Micron Technology, Inc. B3DXGBC8GAIYWI2Z0172 595112BZ5 4000000.00000000 PA USD 4144722.40000000 0.132008021679 Long DBT CORP US N 2 2033-02-09 Fixed 5.87500000 N N N N N N INSTITUTIONAL FIDUCIARY TRUST N/A N/A 8133000.00000000 NS USD 8133000.00000000 0.259033328822 Long STIV RF US N 1 N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWNX7 8670786.39000000 PA USD 8663689.44000000 0.275935609925 Long ABS-MBS USGSE US N 2 2055-02-01 Fixed 5.50000000 N N N N N N Weatherford International Ltd. 549300A2JKMG5PGOGF82 947075AU1 14500000.00000000 PA USD 14733029.50000000 0.469242060127 Long DBT CORP BM N 2 2030-04-30 Fixed 8.62500000 N N N N N N Analog Devices, Inc. GYVOE5EZ4GDAVTU4CQ61 032654105 60000.00000000 NS USD 12100200.00000000 0.385387321457 Long EC CORP US N 1 N N N HP, Inc. WHKXQACZ14C5XRO8LW03 40434LAN5 10000000.00000000 PA USD 10145763.20000000 0.323139163302 Long DBT CORP US N 2 2033-01-15 Fixed 5.50000000 N N N N N N Lowe's Cos., Inc. WAFCR4OKGSC504WU3E95 548661EL7 13000000.00000000 PA USD 12952221.23000000 0.412523912559 Long DBT CORP US N 2 2033-04-15 Fixed 5.00000000 N N N N N N Endo, Inc., Escrow Account 549300KK5WR4MGN4YT97 698ESCAA8 8429000.00000000 PA USD 0.00000000 0.000000 Long DBT CORP US N 3 2027-04-01 Fixed 0.00000000 N N N N N N GNMA 549300M8ZYFG0OCMTT87 3618N5JD2 6000000.00000000 PA USD 6017836.86000000 0.191666090514 Long ABS-MBS USGA US N 2 2055-03-20 Fixed 5.50000000 N N N N N N Endo Finance Holdings, Inc. N/A 29281RAA7 4000000.00000000 PA USD 4175103.88000000 0.132975661651 Long DBT CORP US N 2 2031-04-15 Fixed 8.50000000 N N N N N Royal Bank of Canada into Cisco Systems, Inc. ES7IP3U3RHIGC71XBU11 779942424 150000.00000000 NS USD 8081586.33000000 0.257395820634 Long SN CORP CA N 2 2025-09-17 Fixed 8.00000000 N N N N N N CCO Holdings LLC / CCO Holdings Capital Corp. N/A 1248EPCS0 17500000.00000000 PA USD 17461473.75000000 0.556142096594 Long DBT CORP US N 2 2029-09-01 Fixed 6.37500000 N N N N N N NextEra Energy, Inc. 254900RHL9MEUS5NKX63 65339F119 50000.00000000 NS USD 2277500.00000000 0.072537612983 Long EP CORP US N 1 N N N Barclays Bank plc into Dell Technologies Inc N/A N/A 75000.00000000 NS USD 7118873.03000000 0.226733724139 Long SN CORP US N 2 2025-09-03 Fixed 12.00000000 N N N N N N Chevron Corp. N/A 166764100 350000.00000000 NS USD 58551500.00000000 1.864845684560 Long EC CORP US N 1 N N N Venture Global LNG, Inc. 54930011XLBUWMQUC829 92332YAB7 7500000.00000000 PA USD 7611795.38000000 0.242433136062 Long DBT CORP US N 2 2031-06-01 Fixed 8.37500000 N N N N N N Boeing Co. (The) RVHJWBXLJ1RFUBSY1F30 097023CY9 25000000.00000000 PA USD 25168585.00000000 0.801611011225 Long DBT CORP US N 2 2030-05-01 Fixed 5.15000000 N N N N N N Capital One Financial Corp. ZUE8T73ROZOF6FLBAR73 14040HCN3 7000000.00000000 PA USD 6564596.43000000 0.209080199881 Long DBT CORP US N 2 2030-03-01 Fixed 3.27300000 N N N N N N 7-Eleven, Inc. 549300K23JPL0SS3LB18 817826AE0 3000000.00000000 PA USD 2487953.52000000 0.079240487180 Long DBT CORP US N 2 2031-02-10 Fixed 1.80000000 N N N N N N EMRLD Borrower LP / Emerald Co-Issuer, Inc. 5493000GJYE7GAQCUC61 29103CAA6 11000000.00000000 PA USD 11018625.09000000 0.350939522452 Long DBT CORP US N 2 2030-12-15 Fixed 6.62500000 N N N N N N United States of America 254900HROIFWPRGM1V77 912810TT5 21000000.00000000 PA USD 19357324.14000000 0.616524297193 Long DBT UST US N 2 2053-08-15 Fixed 4.12500000 N N N N N N Target Corp. 8WDDFXB5T1Z6J0XC1L66 87612E106 50000.00000000 NS USD 5218000.00000000 0.166191554136 Long EC CORP US N 1 N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWMX8 27090322.85000000 PA USD 26567418.12000000 0.846163378068 Long ABS-MBS USGSE US N 2 2054-11-01 Fixed 5.00000000 N N N N N N Tenet Healthcare Corp. 0W9AIBT6U6ADJ2I8HK17 88033GDS6 24031000.00000000 PA USD 24060942.63000000 0.766332972340 Long DBT CORP US N 2 2027-02-01 Fixed 6.25000000 N N N N N N TotalEnergies SE 529900S21EQ1BO4ESM68 89151E109 250000.00000000 NS USD 16172500.00000000 0.515088713927 Long EC CORP FR N 1 N N N Hilcorp Energy I LP / Hilcorp Finance Co. N/A 431318BG8 4000000.00000000 PA USD 3825128.40000000 0.121829059710 Long DBT CORP US N 2 2035-02-15 Fixed 7.25000000 N N N N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 20825C104 150000.00000000 NS USD 15753000.00000000 0.501727779286 Long EC CORP US N 1 N N N Mizuho Markets Cayman LP into Barrick Gold Corp. 549300KHUXLS6Q30KT26 6068FR543 303000.00000000 NS USD 5602102.55000000 0.178425091839 Long SN CORP KY N 2 2025-07-01 Fixed 9.00000000 N N N N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 61747YFJ9 6000000.00000000 PA USD 6546591.12000000 0.208506736782 Long DBT CORP US N 2 2034-11-01 Fixed 6.62700000 N N N N N N Southern Co. (The) 549300FC3G3YU2FBZD92 842587DL8 10000000.00000000 PA USD 10398647.40000000 0.331193440461 Long DBT CORP US N 2 2032-10-15 Fixed 5.70000000 N N N N N N JPMorgan Chase Bank NA into Exxon Mobil Corp. N/A N/A 50000.00000000 NS USD 5745074.12000000 0.182978688507 Long SN CORP US N 2 2025-11-03 Fixed 8.50000000 N N N N N N Charles Schwab Corp. (The) 549300VSGCJ7E698NM85 808513105 100000.00000000 NS USD 7828000.00000000 0.249319180870 Long EC CORP US N 1 N N N Mizuho Markets Cayman LP into Bristol-Myers Squibb Co. 549300KHUXLS6Q30KT26 6068FR485 230000.00000000 NS USD 12625978.57000000 0.402133192994 Long SN CORP KY N 2 2025-05-08 Fixed 9.50000000 N N N N N N J.P. Morgan Structured Products BV into Home Depot, Inc. (The) N/A N/A 25000.00000000 NS USD 9122339.86000000 0.290543472345 Long SN CORP US N 2 2025-10-15 Fixed 8.00000000 N N N N N N Endo, Inc. N/A 29290D117 187928.00000000 NS USD 4510272.00000000 0.143650654131 Long EC CORP US N 1 N N N GNMA 549300M8ZYFG0OCMTT87 3618N5JE0 6000000.00000000 PA USD 6095593.86000000 0.194142624948 Long ABS-MBS USGA US N 2 2055-03-20 Fixed 6.00000000 N N N N N N Rio Tinto plc 213800YOEO5OQ72G2R82 767204100 365529.00000000 NS USD 21960982.32000000 0.699449939082 Long EC CORP GB N 1 N N N SCIH Salt Holdings, Inc. N/A 78433BAA6 8888000.00000000 PA USD 8461889.73000000 0.269508356681 Long DBT CORP US N 2 2028-05-01 Fixed 4.87500000 N N N N N N Goldman Sachs International Bank into NIKE, Inc. N/A N/A 100000.00000000 NS USD 6732577.59000000 0.214430343623 Long SN CORP US N 2 2026-03-31 Fixed 9.00000000 N N N N N N Micron Technology, Inc. B3DXGBC8GAIYWI2Z0172 595112103 150000.00000000 NS USD 13033500.00000000 0.415112614189 Long EC CORP US N 1 N N N Micron Technology, Inc. B3DXGBC8GAIYWI2Z0172 595112BV4 8000000.00000000 PA USD 8585555.12000000 0.273447057976 Long DBT CORP US N 2 2029-11-01 Fixed 6.75000000 N N N N N N CCO Holdings LLC / CCO Holdings Capital Corp. N/A 1248EPBT9 3000000.00000000 PA USD 2957155.80000000 0.094184422810 Long DBT CORP US N 2 2027-05-01 Fixed 5.12500000 N N N N N N Coca-Cola Co. (The) UWJKFUJFZ02DKWI3RY53 191216100 250000.00000000 NS USD 17905000.00000000 0.570268259259 Long EC CORP US N 1 N N N United Airlines Pass-Through Trust N/A 90931GAA7 4262145.84000000 PA USD 4344476.01000000 0.138370107323 Long ABS-O CORP US N 2 2027-10-15 Fixed 5.87500000 N N N N N N Caterpillar, Inc. WRJR7GS4GTRECRRTVX92 149123101 12500.00000000 NS USD 4122500.00000000 0.131300245674 Long EC CORP US N 1 N N N BNP Paribas Issuance BV into Freeport-McMoRan, Inc. 7245009UXRIGIRYOBR48 N/A 350000.00000000 NS USD 13469414.02000000 0.428996329876 Long SN CORP NL N 2 2025-08-12 Fixed 10.00000000 N N N N N N Procter & Gamble Co. (The) 2572IBTT8CCZW6AU4141 742718109 250000.00000000 NS USD 42605000.00000000 1.356954995016 Long EC CORP US N 1 N N N Wells Fargo Bank NA into CVS Health Corp. N/A N/A 150000.00000000 NS USD 10110195.95000000 0.322006358290 Long SN CORP US N 2 2026-04-09 Fixed 10.00000000 N N N N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWNM1 9159146.45100000 PA USD 9306556.87000000 0.296410722477 Long ABS-MBS USGSE US N 2 2055-01-01 Fixed 6.00000000 N N N N N N Truist Financial Corp. 549300DRQQI75D2JP341 89832Q109 150000.00000000 NS USD 6172500.00000000 0.196592059775 Long EC CORP US N 1 N N N Citigroup Global Markets Holdings, Inc. into UnitedHealth Group, Inc. 82VOJDD5PTRDMVVMGV31 17332B132 15000.00000000 NS USD 7807750.98000000 0.248674256358 Long SN CORP US N 2 2026-01-27 Fixed 9.00000000 N N N N N N Clydesdale Acquisition Holdings, Inc. 254900QKSDYFR3K5YD98 18972EAD7 4000000.00000000 PA USD 4030910.56000000 0.128383152654 Long DBT CORP US N 2 2032-04-15 Fixed 6.75000000 N N N N N N Verizon Communications, Inc. 2S72QS2UO2OESLG6Y829 92343V104 250000.00000000 NS USD 11340000.00000000 0.361175205808 Long EC CORP US N 1 N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWJR5 7991816.84400000 PA USD 7992702.58000000 0.254564902936 Long ABS-MBS USGSE US N 2 2053-11-01 Fixed 5.50000000 N N N N N N Amgen, Inc. 62QBXGPJ34PQ72Z12S66 031162100 70000.00000000 NS USD 21808500.00000000 0.694593428208 Long EC CORP US N 1 N N N UBS AG into Analog Devices, Inc. BFM8T61CT2L1QCEMIK50 90301T673 34000.00000000 NS USD 6995083.76000000 0.222791077307 Long SN CORP CH N 2 2025-09-17 Fixed 9.00000000 N N N N N N Clear Channel Outdoor Holdings, Inc. 254900XBEE6V1ENYS150 18453HAD8 7000000.00000000 PA USD 5789676.83000000 0.184399269897 Long DBT CORP US N 2 2029-06-01 Fixed 7.50000000 N N N N N N Ford Motor Credit Co. LLC UDSQCVRUX5BONN0VY111 345397C27 15000000.00000000 PA USD 14785955.70000000 0.470927741889 Long DBT CORP US N 2 2027-05-28 Fixed 4.95000000 N N N N N N Ford Motor Co. 20S05OYHG0MQM4VUIC57 345370DA5 3000000.00000000 PA USD 2473720.26000000 0.078787162611 Long DBT CORP US N 2 2032-02-12 Fixed 3.25000000 N N N N N N Matador Resources Co. 549300CI3Q2UUK5R4G79 576485AH9 3500000.00000000 PA USD 3422753.95000000 0.109013568106 Long DBT CORP US N 2 2033-04-15 Fixed 6.25000000 N N N N N N General Motors Financial Co., Inc. 5493008B6JBRUJ90QL97 37045XED4 5000000.00000000 PA USD 5159407.40000000 0.164325399430 Long DBT CORP US N 2 2033-01-09 Fixed 6.40000000 N N N N N N United States of America 254900HROIFWPRGM1V77 912810TR9 42500000.00000000 PA USD 35812060.60000000 1.140602147940 Long DBT UST US N 2 2053-05-15 Fixed 3.62500000 N N N N N N Honeywell International, Inc. ISRPG12PN4EIEOEMW547 438516106 45391.00000000 NS USD 9611544.25000000 0.306124468486 Long EC CORP US N 1 N N N Hewlett Packard Enterprise Co. 549300BX44RGX6ANDV88 42824CBV0 6000000.00000000 PA USD 5847660.66000000 0.186246035482 Long DBT CORP US N 2 2034-10-15 Fixed 5.00000000 N N N N N N Stagwell Global LLC 984500904E015Z0C1F82 59565JAA9 5000000.00000000 PA USD 4766642.70000000 0.151815975148 Long DBT CORP US N 2 2029-08-15 Fixed 5.62500000 N N N N N N Boeing Co. (The) RVHJWBXLJ1RFUBSY1F30 097023204 240000.00000000 NS USD 14359200.00000000 0.457335715630 Long EP CORP US N 1 N N N FNMA B1V7KEBTPIMZEU4LTD58 3140XPBW8 13601846.17700000 PA USD 13365091.35000000 0.425673687741 Long ABS-MBS USGSE US N 2 2053-11-01 Fixed 5.00000000 N N N N N N RTX Corp. I07WOS4YJ0N7YRFE7309 75513E101 90000.00000000 NS USD 11921400.00000000 0.379692601281 Long EC CORP US N 1 N N N Southern Co. (The) 549300FC3G3YU2FBZD92 842587EB9 1000000.00000000 PA USD 1026463.00000000 0.032692503111 Long DBT CORP US N 2 2055-03-15 Fixed 6.37500000 N N N N N N Sprint LLC 549300ZTTY7CXOLJ6539 85207UAK1 7500000.00000000 PA USD 7618902.38000000 0.242659491634 Long DBT CORP US N 2 2026-03-01 Fixed 7.62500000 N N N N N N AbbVie, Inc. FR5LCKFTG8054YNNRU85 00287Y109 140000.00000000 NS USD 29332800.00000000 0.934239865692 Long EC CORP US N 1 N N N Venture Global LNG, Inc. 54930011XLBUWMQUC829 92332YAA9 5000000.00000000 PA USD 5112282.10000000 0.162824474393 Long DBT CORP US N 2 2028-06-01 Fixed 8.12500000 N N N N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 48128AAJ2 3000000.00000000 PA USD 3077828.70000000 0.098027814300 Long DBT CORP US N 2 2030-04-01 Fixed 6.50000000 N N N N N N Teva Pharmaceutical Finance Netherlands III BV 5493004T21MOAFINJP35 88167AAK7 10000000.00000000 PA USD 10264490.00000000 0.326920572158 Long DBT CORP NL N 2 2028-03-01 Fixed 6.75000000 N N N N N N NCL Corp. Ltd. UNZWILHE4KMRP9K2L524 62886HBR1 2000000.00000000 PA USD 1976995.42000000 0.062966642654 Long DBT CORP BM N 2 2032-02-01 Fixed 6.75000000 N N N N N N Union Pacific Corp. 549300LMMRSZZCZ8CL11 907818108 129993.00000000 NS USD 30709546.32000000 0.978088775345 Long EC CORP US N 1 N N N JetBlue Airways Corp. / JetBlue Loyalty LP N/A 476920AA1 7000000.00000000 PA USD 6915590.57000000 0.220259245803 Long DBT CORP US N 2 2031-09-20 Fixed 9.87500000 N N N N N N Wells Fargo Bank NA into Boeing Co. (The) KB1H1DSPRFMYMCUFXT09 95002A139 35000.00000000 NS USD 5993549.75000000 0.190892554187 Long SN CORP US N 2 2025-06-17 Fixed 9.00000000 N N N N N N DaVita, Inc. M2XHYMU3TZNEZURC6H66 23918KAS7 20000000.00000000 PA USD 18427834.00000000 0.586920347227 Long DBT CORP US N 2 2030-06-01 Fixed 4.62500000 N N N N N N Caesars Entertainment, Inc. 549300FA4CTCW903Y781 12769GAD2 12500000.00000000 PA USD 11684055.00000000 0.372133242443 Long DBT CORP US N 2 2032-10-15 Fixed 6.00000000 N N N N N Sempra PBBKGKLRK5S5C0Y4T545 816851109 180000.00000000 NS USD 12844800.00000000 0.409102582325 Long EC CORP US N 1 N N N FHLMC Pool S6XOOCT0IEG5ABCC6L87 3132DWNY5 5090512.80000000 PA USD 5172441.24000000 0.164740522873 Long ABS-MBS USGSE US N 2 2055-02-01 Fixed 6.00000000 N N N N N N Camelot Return Merger Sub, Inc. N/A 13323NAA0 6900000.00000000 PA USD 5692569.00000000 0.181306418003 Long DBT CORP US N 2 2028-08-01 Fixed 8.75000000 N N N N N N FNMA B1V7KEBTPIMZEU4LTD58 3140QBMZ8 1293350.01000000 PA USD 1223150.49000000 0.038956933858 Long ABS-MBS USGSE US N 2 2049-08-01 Fixed 4.00000000 N N N N N N CommScope LLC 549300Z6K4JXMFE8QY54 203372AX5 3000000.00000000 PA USD 2670898.92000000 0.085067236959 Long DBT CORP US N 2 2029-09-01 Fixed 4.75000000 N N N N N N CommScope LLC 549300Z6K4JXMFE8QY54 203372AV9 9846000.00000000 PA USD 8722192.03000000 0.277798897842 Long DBT CORP US N 2 2028-07-01 Fixed 7.12500000 N N N N N N Duke Energy Corp. I1BZKREC126H0VB1BL91 26441C204 150000.00000000 NS USD 18295500.00000000 0.582705553604 Long EC CORP US N 1 N N N Clear Channel Outdoor Holdings, Inc. 254900XBEE6V1ENYS150 18453HAC0 2800000.00000000 PA USD 2410214.88000000 0.076764537506 Long DBT CORP US N 2 2028-04-15 Fixed 7.75000000 N N N N N N Barclays Bank plc into Microchip Technology, Inc. G5GSEF7VJP5I7OUK5573 06748N244 135000.00000000 NS USD 6944461.27000000 0.221178767938 Long SN CORP GB N 2 2025-10-14 Fixed 10.00000000 N N N N N N Ashtead Capital, Inc. 213800J1134IW58IC398 045054AL7 4500000.00000000 PA USD 4334778.23000000 0.138061236274 Long DBT CORP US N 2 2029-11-01 Fixed 4.25000000 N N N N N N Tenet Healthcare Corp. 0W9AIBT6U6ADJ2I8HK17 88033GDQ0 12500000.00000000 PA USD 12457830.50000000 0.396777733224 Long DBT CORP US N 2 2030-06-15 Fixed 6.12500000 N N N N N N Alcoa Nederland Holding BV 5493000UL1QLQLT1VQ42 013822AG6 8500000.00000000 PA USD 7887793.45000000 0.251223582247 Long DBT CORP NL N 2 2029-03-31 Fixed 4.12500000 N N N N N N United Rentals North America, Inc. NGIZXNT70J2LYT3FBI09 911365BG8 12800000.00000000 PA USD 12591292.16000000 0.401028442441 Long DBT CORP US N 2 2028-01-15 Fixed 4.87500000 N N N N N N Wells Fargo Bank NA into NextEra Energy, Inc. N/A N/A 205000.00000000 NS USD 14659500.13000000 0.466900174295 Long SN CORP US N 2 2025-05-21 Fixed 8.00000000 N N N N N N McDonald's Corp. UE2136O97NLB5BYP9H04 580135101 30000.00000000 NS USD 9371100.00000000 0.298466399572 Long EC CORP US N 1 N N N Albemarle Corp. HDBLS2Q6GV1LSKQPBS54 012653101 155008.00000000 NS USD 11163676.16000000 0.355559350500 Long EC CORP US N 1 N N N Institutional Fiduciary Trust - Money Market Portfolio 549300M4TP89K77LG374 457756500 10086164.69100000 NS USD 10086164.69000000 0.321240970699 Long STIV RF US N 1 N N N Clydesdale Acquisition Holdings, Inc. N/A N/A 68728.52000000 PA USD 68427.83000000 0.002179403490 Long LON CORP US N 2 2032-03-29 Variable 0.00000000 N N N N N N Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. N/A 31556TAC3 4100000.00000000 PA USD 3549112.93000000 0.113038059341 Long DBT CORP US N 2 2030-01-15 Fixed 6.75000000 N N N N N N Vistra Operations Co. LLC 549300ZH5GKBTJZ7NM23 92840VAH5 10505000.00000000 PA USD 9984436.28000000 0.318000954877 Long DBT CORP US N 2 2029-05-01 Fixed 4.37500000 N N N N N N JPMorgan Chase Bank NA into Truist Financial Corp. 7H6GLXDRUGQFU57RNE97 4662AA448 168000.00000000 NS USD 6942046.21000000 0.221101849085 Long SN CORP US N 2 2026-03-02 Fixed 9.50000000 N N N N N N Tenet Healthcare Corp. 0W9AIBT6U6ADJ2I8HK17 88033GDU1 10000000.00000000 PA USD 10152416.70000000 0.323351075051 Long DBT CORP US N 2 2031-05-15 Fixed 6.75000000 N N N N N N Barclays Bank plc into Amazon.com, Inc. N/A N/A 50000.00000000 NS USD 9795611.72000000 0.311986955819 Long SN CORP US N 2 2026-03-25 Fixed 10.00000000 N N N N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 48128BAQ4 5000000.00000000 PA USD 5263995.00000000 0.167656479497 Long DBT CORP US N 2 2029-06-01 Fixed 6.87500000 N N N N N N Dominion Energy, Inc. ILUL7B6Z54MRYCF6H308 25746U109 300000.00000000 NS USD 16821000.00000000 0.535743221949 Long EC CORP US N 1 N N N Oracle Corp. 1Z4GXXU7ZHVWFCD8TV52 68389XCJ2 6750000.00000000 PA USD 7201369.80000000 0.229361218661 Long DBT CORP US N 2 2032-11-09 Fixed 6.25000000 N N N N N N T-Mobile USA, Inc. 549300V2JRLO5DIFGE82 87264ACV5 7500000.00000000 PA USD 7562267.40000000 0.240855686470 Long DBT CORP US N 2 2033-01-15 Fixed 5.20000000 N N N N N N Mizuho Markets Cayman LP into Freeport-McMoRan, Inc. 549300KHUXLS6Q30KT26 60701E139 250000.00000000 NS USD 9684782.51000000 0.308457082562 Long SN CORP KY N 2 2025-12-24 Fixed 10.00000000 N N N N N N Barclays plc 213800LBQA1Y9L22JB70 06738ECA1 15000000.00000000 PA USD 15250071.45000000 0.485709673241 Long DBT CORP GB N 2 2033-08-09 Fixed 5.74600000 N N N N N N Lockheed Martin Corp. DPRBOZP0K5RM2YE8UU08 539830109 65000.00000000 NS USD 29036150.00000000 0.924791662446 Long EC CORP US N 1 N N N Vistra Operations Co. LLC 549300ZH5GKBTJZ7NM23 92840VAR3 2800000.00000000 PA USD 2856254.44000000 0.090970748254 Long DBT CORP US N 2 2032-04-15 Fixed 6.87500000 N N N N N N Medline Borrower LP 254900QT3R363TVK6F09 62482BAB8 4000000.00000000 PA USD 3841053.60000000 0.122336272002 Long DBT CORP US N 2 2029-10-01 Fixed 5.25000000 N N N N N N Nestle SA KY37LUS27QQX7BB93L28 641069406 190000.00000000 NS USD 19222300.00000000 0.612223823511 Long EC CORP CH N 1 N N N Barclays Bank plc into RTX Corp. N/A N/A 98000.00000000 NS USD 12035855.53000000 0.383337971616 Long SN CORP US N 2 2025-10-16 Fixed 7.50000000 N N N N N N Texas Instruments, Inc. WDJNR2L6D8RWOEB8T652 882508104 75000.00000000 NS USD 13477500.00000000 0.429253865633 Long EC CORP US N 1 N N N Ares Management Corp. 529900JUV61FH7B8VW38 03990B309 50000.00000000 NS USD 2410500.00000000 0.076773618483 Long EP CORP US N 1 N N N Mizuho Markets Cayman LP into Hewlett Packard Enterprise Co. 549300KHUXLS6Q30KT26 6068FR667 400000.00000000 NS USD 6208937.30000000 0.197752575589 Long SN CORP KY N 2 2025-09-30 Fixed 9.50000000 N N N N N N TransDigm, Inc. 88Q84GB3X55CF5OC7582 893647BV8 15000000.00000000 PA USD 15209915.25000000 0.484430711706 Long DBT CORP US N 2 2032-03-01 Fixed 6.62500000 N N N N N N Centene Corp. 549300Z7JJ4TQSQGT333 15135BAT8 10000000.00000000 PA USD 9588234.00000000 0.305382044823 Long DBT CORP US N 2 2029-12-15 Fixed 4.62500000 N N N N N N HCA, Inc. L3CJ6J7LJ2DX62FTXD46 404119CQ0 10000000.00000000 PA USD 10041290.20000000 0.319811733207 Long DBT CORP US N 2 2033-06-01 Fixed 5.50000000 N N N N N N Caesars Entertainment, Inc. 549300FA4CTCW903Y781 12769GAB6 6250000.00000000 PA USD 6339525.06000000 0.201911752052 Long DBT CORP US N 2 2030-02-15 Fixed 7.00000000 N N N N N N MPH Acquisition Holdings LLC N/A 55328HAP6 1592498.00000000 PA USD 1580840.91000000 0.050349254058 Long LON CORP US N 2 2030-12-31 Variable 8.03689000 N N N N N N Barclays plc 213800LBQA1Y9L22JB70 06738ECE3 10000000.00000000 PA USD 11165823.00000000 0.355627726635 Long DBT CORP GB N 2 2033-11-02 Fixed 7.43700000 N N N N N N 2025-04-30 Franklin Templeton Variable Insurance Products Trust Monica Krogh Monica Krogh Assistant Treasurer XXXX