{"entity_type":"fund","name":"FPA New Income Fund","identifiers":{"lei":"98450097FAFF1111C456","cik":"924727","fund_id":"S000080693","fundkey":"fpa-new-income-fund"},"dates":{"reporting_period_start":"2025-12-31","reporting_period_end":"2026-09-30","filing_date":"2026-02-27"},"summary":{"total_positions":363,"total_value_usd":10677207813.42,"asset_categories":["ABS-MBS","LON","ABS-CBDO","STIV","ABS-O","EC","DBT"],"by_asset_category":{"ABS-O":{"positions":90,"total_value_usd":2166025270.28},"ABS-MBS":{"positions":224,"total_value_usd":4359047560.63},"STIV":{"positions":1,"total_value_usd":50073274.39},"DBT":{"positions":36,"total_value_usd":3595992610.94},"LON":{"positions":2,"total_value_usd":277725.69},"ABS-CBDO":{"positions":7,"total_value_usd":328212199.78},"EC":{"positions":3,"total_value_usd":177579171.71}}},"holdings":[{"issuer_name":"US TREASURY N/B","title":"United States Treasury Note","isin":"US91282CPD73","value_usd":1041765564.06,"pct_val":9.669916633,"balance":1046015000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US TREASURY N/B","title":"United States Treasury Note","isin":"US91282CPN55","value_usd":363137915.93,"pct_val":3.370732816,"balance":366750000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RJ86","value_usd":324925636.66,"pct_val":3.0160373186,"balance":325377000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US TREASURY N/B","title":"United States Treasury Note","isin":"US91282CNX55","value_usd":316153663.44,"pct_val":2.9346137693,"balance":317008000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797PD35","value_usd":302052959.62,"pct_val":2.8037276706,"balance":302678000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RH21","value_usd":247223495.04,"pct_val":2.2947874927,"balance":247397000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US TREASURY N/B","title":"United States Treasury Note","isin":"US91282CPA35","value_usd":149158550,"pct_val":1.384525265,"balance":149720000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PHI Group Inc/DE","title":"PHI Group, Inc.","isin":"US69360B1044","value_usd":121805440,"pct_val":1.1306271688,"balance":3806420,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Fortress Credit Opportunities","title":"Fortress Credit Opportunities IX CLO Ltd.","isin":"US34961JAY01","value_usd":119138266.8,"pct_val":1.1058698305,"balance":118776000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US TREASURY N/B","title":"United States Treasury Note","isin":"US91282CHZ77","value_usd":110658642.84,"pct_val":1.0271599368,"balance":106471000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XHFH52","value_usd":110556887.87,"pct_val":1.0262154229,"balance":127543295.242,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FNB820","value_usd":87896897.43,"pct_val":0.8158799828,"balance":91996000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Verizon Master Trust","title":"Verizon Master Trust","isin":"US92348KCH41","value_usd":87781165.1,"pct_val":0.8148057276,"balance":85708000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ford Credit Floorplan Master O","title":"Ford Credit Floorplan Master Owner Trust A","isin":"US34528PAK21","value_usd":84343064.14,"pct_val":0.7828924539,"balance":83977000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FNAE00","value_usd":81379499.77,"pct_val":0.755383942,"balance":84442000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Verizon Master Trust","title":"Verizon Master Trust","isin":"US92348VAA70","value_usd":79392621.42,"pct_val":0.7369412629,"balance":76585000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XG2N80","value_usd":78440430.57,"pct_val":0.7281028001,"balance":90492335.559,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XNG578","value_usd":78240782.29,"pct_val":0.7262496171,"balance":86305267.292,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN TOWER TRUST I","title":"American Tower Trust #1","isin":"US03027WAM47","value_usd":78190553.14,"pct_val":0.7257833782,"balance":77012000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137HBC514","value_usd":77799990.81,"pct_val":0.7221580854,"balance":75127967,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132CXDD12","value_usd":76981036.15,"pct_val":0.7145563528,"balance":84682149.368,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYU560","value_usd":72027795.65,"pct_val":0.6685791921,"balance":84790035.712,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Hertz Vehicle Financing LLC","title":"Hertz Vehicle Financing LLC","isin":"US42806MBJ71","value_usd":71920788.7,"pct_val":0.6675859281,"balance":72333000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418D6K36","value_usd":70913445.39,"pct_val":0.658235527,"balance":84119280.811,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FMTY89","value_usd":68970767.96,"pct_val":0.6402031314,"balance":71380000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FJZ934","value_usd":68686216.43,"pct_val":0.6375618562,"balance":68841723,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2022-PJ5","isin":"US362925BG31","value_usd":67210504.62,"pct_val":0.6238639469,"balance":75582668.298,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Non Gold Pool","isin":"US31288QTU49","value_usd":66846500.31,"pct_val":0.620485172,"balance":72924629.636,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GM Financial Revolving Receiva","title":"GM Financial Revolving Receivables Trust 2024-1","isin":"US36269KAA34","value_usd":66003189.89,"pct_val":0.6126573634,"balance":64237000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XKCF52","value_usd":63868512.72,"pct_val":0.5928427804,"balance":65181928.581,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYVB28","value_usd":63166159.28,"pct_val":0.5863233681,"balance":74519002.648,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FJEH82","value_usd":63046162.67,"pct_val":0.5852095309,"balance":62664000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137HA4B92","value_usd":62682792.28,"pct_val":0.5818366402,"balance":61806000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CENTERPOINT ENERGY RE II","title":"Centerpoint Energy Restoration Bond Co. II LLC","isin":"US15201GAA76","value_usd":60880640.64,"pct_val":0.5651086385,"balance":61032000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VIRGINIA POWER FUEL SEC","title":"Virginia Power Fuel Securitization LLC","isin":"US92808VAB80","value_usd":59607500.25,"pct_val":0.5532910455,"balance":58246000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RJK14","value_usd":59296325.6,"pct_val":0.5504026481,"balance":57519000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYVE66","value_usd":58675709.69,"pct_val":0.5446419431,"balance":69280692.318,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Toyota Auto Loan Extended Note","title":"Toyota Auto Loan Extended Note Trust 2024-1","isin":"US89231JAA07","value_usd":58376507.07,"pct_val":0.541864673,"balance":56286000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XMZW94","value_usd":57666900.44,"pct_val":0.5352779349,"balance":63435844.995,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FX3Q92","value_usd":55391334.44,"pct_val":0.5141555881,"balance":61809000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Toyota Auto Loan Extended Note","title":"Toyota Auto Loan Extended Note Trust 2022-1","isin":"US89231EAA10","value_usd":54501515.76,"pct_val":0.5058960787,"balance":54519000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Cerberus","title":"Cerberus Loan Funding XLIII LLC","isin":"US156940AA68","value_usd":53088854.84,"pct_val":0.4927834228,"balance":52569000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYV634","value_usd":52504930.88,"pct_val":0.4873633013,"balance":62320252.187,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Cerberus","title":"Cerberus Loan Funding XLI LLC","isin":"US15674VAA26","value_usd":52194948.48,"pct_val":0.4844859706,"balance":51840000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XRMK80","value_usd":51961215.12,"pct_val":0.4823164018,"balance":57316995.413,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132CXNP32","value_usd":51937148.79,"pct_val":0.4820930124,"balance":57290448.51,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XRVQ59","value_usd":51389428,"pct_val":0.4770089373,"balance":58264221.606,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GM Financial Revolving Receiva","title":"GM Financial Revolving Receivables Trust 2023-1","isin":"US38012RAA41","value_usd":51191289.14,"pct_val":0.4751697651,"balance":49942000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-13","isin":"US46592XAF15","value_usd":51036081.11,"pct_val":0.4737290871,"balance":56553183.477,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae REMICS","isin":"US3136BTAR46","value_usd":50950799.31,"pct_val":0.4729374811,"balance":54434300.605,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MSILF Treasury Portfolio","title":"MSILF Treasury Portfolio - Class Institutional","isin":"US61747C5821","value_usd":50073274.39,"pct_val":0.4647920853,"balance":50073274.39,"units":"PA","currency":"USD","asset_cat":"STIV","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RHG20","value_usd":49978076.7,"pct_val":0.4639084376,"balance":48017000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AIPCF VIII A-BL AGGREGATOR CAYMAN LP   /","title":"AIPCF VIII A-BL AGGREGATOR CAYMAN LP   /","isin":null,"value_usd":49921391.71,"pct_val":0.463382274,"balance":39831957,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XPRW18","value_usd":49615456.58,"pct_val":0.4605425111,"balance":56828069.478,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Golub Capital Partners Funding","title":"Golub Capital Partners ABS Funding 2021-2 Ltd.","isin":"US38178XAA19","value_usd":48886771.78,"pct_val":0.4537786848,"balance":50039020.297,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"General Motors","title":"GMF Floorplan Owner Revolving Trust","isin":"US361886DF88","value_usd":48407090.44,"pct_val":0.4493261681,"balance":46933000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418D5F59","value_usd":47924291.74,"pct_val":0.4448447154,"balance":56810121.987,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ford Credit Floorplan Master O","title":"Ford Credit Floorplan Master Owner Trust A","isin":"US34528QJF28","value_usd":47754603.82,"pct_val":0.4432696316,"balance":46054000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FQ3Z46","value_usd":47529606.63,"pct_val":0.441181154,"balance":49942000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FJKE87","value_usd":46816891.43,"pct_val":0.4345655614,"balance":46777000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-11","isin":"US46654KAF49","value_usd":46115054.15,"pct_val":0.4280509402,"balance":51212466.525,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2021-SFR10 Trust","isin":"US74333WAA09","value_usd":45659920.63,"pct_val":0.4238262822,"balance":47348834.619,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FQKN20","value_usd":44879330.47,"pct_val":0.416580658,"balance":47045000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Toyota Auto Loan Extended Note","title":"Toyota Auto Loan Extended Note Trust 2023-1","isin":"US89231WAA18","value_usd":44805802.58,"pct_val":0.4158981546,"balance":43813000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Golub Capital Partners CLO Ltd","title":"Golub Capital Partners CLO 67M","isin":"US38179PAA75","value_usd":43821476.2,"pct_val":0.4067614022,"balance":43478000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Hertz Vehicle Financing LLC","title":"Hertz Vehicle Financing III LP","isin":"US42806MAE93","value_usd":43791839.01,"pct_val":0.4064863027,"balance":44631000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2022-PJ6","isin":"US36267JAX81","value_usd":43197660.61,"pct_val":0.400970997,"balance":48535890.198,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FLMV31","value_usd":43023180.29,"pct_val":0.399351429,"balance":43626000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140W1VV23","value_usd":42948189.57,"pct_val":0.3986553472,"balance":50918171.66,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HLEND SENIOR NOTES DUE 3/15/2028   /","title":"HLEND SENIOR NOTES DUE 3/15/2028   /","isin":"N/A","value_usd":42500000,"pct_val":0.3944951447,"balance":42500000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"KANSAS GAS SVC SEC I LLC","title":"Kansas Gas Service Securitization I LLC","isin":"US484915AA16","value_usd":42173417.06,"pct_val":0.3914637239,"balance":40864197.634,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Golub Capital Partners CLO Ltd","title":"Golub Capital Partners Clo 46M Ltd.","isin":"US38178UAA79","value_usd":42082931.72,"pct_val":0.3906238173,"balance":41996000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Sequoia Mortgage Trust","title":"Sequoia Mortgage Trust 2025-S1","isin":"US81749TAD46","value_usd":42058987.5,"pct_val":0.3904015614,"balance":47169310.614,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132DUCC99","value_usd":41372966.4,"pct_val":0.3840337498,"balance":41322742.743,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137BUX604","value_usd":40641613.5,"pct_val":0.3772451576,"balance":40851138.987,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCE RECOVERY FUNDING LLC","title":"SCE Recovery Funding LLC","isin":"US78433LAJ52","value_usd":39420459,"pct_val":0.36591011,"balance":39330000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RGY45","value_usd":39214492.96,"pct_val":0.3639982841,"balance":38251000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FNX543","value_usd":38929760.47,"pct_val":0.3613553291,"balance":40814000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XRUA17","value_usd":38886376.88,"pct_val":0.3609526323,"balance":42938903.346,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Enterprise Fleet Financing LLC","title":"Enterprise Fleet Financing 2023-2 LLC","isin":"US29375NAC92","value_usd":38607216.92,"pct_val":0.3583614029,"balance":37963000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Hertz Vehicle Financing LLC","title":"Hertz Vehicle Financing LLC","isin":"US42806MAN92","value_usd":37747889.81,"pct_val":0.3503849236,"balance":38642000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GM Financial Revolving Receiva","title":"GM Financial Revolving Receivables Trust 2021-1","isin":"US36263HAA68","value_usd":37560695.55,"pct_val":0.3486473418,"balance":38305000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-10","isin":"US46654AAF66","value_usd":36932606.48,"pct_val":0.3428172691,"balance":41122756.266,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XPK328","value_usd":36635736.8,"pct_val":0.3400616539,"balance":37407551.854,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Enterprise Fleet Financing LLC","title":"Enterprise Fleet Financing 2023-3 LLC","isin":"US29374LAC46","value_usd":36074587.37,"pct_val":0.3348529309,"balance":34823000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PG&E WILDFIRE RECOVERY","title":"PG&E Wildfire Recovery Funding LLC","isin":"US693342AF44","value_usd":36052371.03,"pct_val":0.3346467135,"balance":36103276.65,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RHM97","value_usd":35670806.26,"pct_val":0.3311049383,"balance":34038000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140W1N900","value_usd":35413805.98,"pct_val":0.3287194003,"balance":41909998.194,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Onslow Bay Financial LLC","title":"OBX 2022-J1 Trust","isin":"US67116WAC38","value_usd":35113689.19,"pct_val":0.3259336446,"balance":38545452.494,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140W2NA50","value_usd":33181488.48,"pct_val":0.3079984964,"balance":33147575.196,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Corp. Trust 2021-PJ5","isin":"US36261HAJ95","value_usd":33105538,"pct_val":0.3072935059,"balance":36733850.628,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Verizon Master Trust","title":"Verizon Master Trust","isin":"US92348KDJ97","value_usd":32095553.86,"pct_val":0.2979185921,"balance":31930000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Bank5","title":"BANK5 2025-5YR18","isin":"US06604CAC47","value_usd":31986349.29,"pct_val":0.2969049292,"balance":31134000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FQKC64","value_usd":31938519.54,"pct_val":0.296460962,"balance":33400000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2021-PJ6","isin":"US36262LAJ98","value_usd":31695613.56,"pct_val":0.2942062507,"balance":35249162.733,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PG&E RECOVERY FND LLC","title":"PG&E Recovery Funding LLC","isin":"US71710TAD00","value_usd":31647444,"pct_val":0.2937591294,"balance":31252413.498,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9P406","value_usd":31588646.3,"pct_val":0.2932133551,"balance":36075962.059,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MMAF Equipment Finance LLC","title":"MMAF Equipment Finance LLC 2024-A","isin":"US55318CAD65","value_usd":31040090.54,"pct_val":0.2881215296,"balance":29990727,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FGZT52","value_usd":30605229.66,"pct_val":0.2840850471,"balance":30559000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DUKE ENERGY NC ST FDG II","title":"Duke Energy Carolinas Nc Storm Funding II LLC","isin":"US26443UAA16","value_usd":30073536.08,"pct_val":0.2791497404,"balance":30094000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9WU48","value_usd":29691802.41,"pct_val":0.2756063973,"balance":35167797.787,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"OAKTREE STRATEGIC CREDIT","title":"Oaktree Strategic Credit Fund","isin":"US67403AAB52","value_usd":29461594.62,"pct_val":0.2734695537,"balance":27351000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Corp. Trust 2022-PJ4","isin":"US36264RBE45","value_usd":29277767.24,"pct_val":0.2717632241,"balance":32808341.793,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140W0H243","value_usd":29031339.83,"pct_val":0.269475826,"balance":28996289.117,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TEXAS ELECTRIC MKT STABL","title":"Texas Electric Market Stabilization Funding N LLC","isin":"US88240TAA97","value_usd":28956071.65,"pct_val":0.2687771688,"balance":29070560.238,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FETN09","value_usd":28780875.66,"pct_val":0.2671509578,"balance":29086020,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FK4M50","value_usd":28061053.78,"pct_val":0.2604693993,"balance":27924000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Golub Capital Partners Funding","title":"Golub Capital Partners ABS Funding 2021-1 Ltd.","isin":"US38178HAA68","value_usd":28038689.16,"pct_val":0.2602618056,"balance":28151690.044,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ford Credit Floorplan Master O","title":"Ford Credit Floorplan Master Owner Trust A","isin":"US34528QJQ82","value_usd":27325851.46,"pct_val":0.2536450759,"balance":27030000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133D3XV24","value_usd":27213196.08,"pct_val":0.2525993818,"balance":32033127.941,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FL6P46","value_usd":26948483.2,"pct_val":0.2501422536,"balance":27195714,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31374CSC19","value_usd":26757152.97,"pct_val":0.2483662807,"balance":28198116.182,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2024-SFR4 Trust","isin":"US74334JAA88","value_usd":25980556.92,"pct_val":0.2411577308,"balance":27138581.923,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Toyota Auto Receivables Owner","title":"Toyota Auto Receivables 2023-C Owner Trust","isin":"US89231FAE07","value_usd":25935188.79,"pct_val":0.240736613,"balance":25523000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HPS CORPORATE LENDING FU","title":"HPS Corporate Lending Fund","isin":"US40440VAF22","value_usd":25930392.1,"pct_val":0.240692089,"balance":24864000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DTE ELECT SECUR FND II","title":"DTE Electric Securitization Funding II LLC","isin":"US23346TAA97","value_usd":25521541.82,"pct_val":0.2368970431,"balance":24356102.32,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9UR37","value_usd":25310371.21,"pct_val":0.2349369071,"balance":29817771.687,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2021-PJ7","isin":"US36262CAJ99","value_usd":25238968.54,"pct_val":0.2342741305,"balance":28128145.367,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FHPJ63","value_usd":25172799.27,"pct_val":0.2336599315,"balance":25020308,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MMAF Equipment Finance LLC","title":"MMAF Equipment Finance LLC 2023-A","isin":"US55317WAD39","value_usd":25101116.06,"pct_val":0.2329945509,"balance":24567000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FLN910","value_usd":24944127.32,"pct_val":0.2315373439,"balance":25293822,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust Series 2024-3","isin":"US46657QAH48","value_usd":24599493.43,"pct_val":0.2283383699,"balance":26934092.047,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Seasoned Mortgage Tr","title":"JP Morgan Seasoned Mortgage Trust Series 2025-1","isin":"US46659PAG63","value_usd":24253863.14,"pct_val":0.225130147,"balance":25802871.437,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FJXV65","value_usd":24138310.15,"pct_val":0.2240575566,"balance":24028000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BLUE OWL CREDIT INCOME","title":"Blue Owl Credit Income Corp.","isin":"US69120VBB62","value_usd":23862214.24,"pct_val":0.2214947684,"balance":22579000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140W1LC51","value_usd":23830390,"pct_val":0.2211993682,"balance":28181447.707,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140KSKQ98","value_usd":23537171.16,"pct_val":0.218477641,"balance":25972162.702,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CONSUMERS 23 SECURE FUND","title":"Consumers 2023 Securitization Funding LLC","isin":"US21071BAB18","value_usd":23468995.87,"pct_val":0.2178448217,"balance":22847000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133GEF454","value_usd":23072383.1,"pct_val":0.2141633673,"balance":25459290.918,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XPTE91","value_usd":22228730.01,"pct_val":0.2063323779,"balance":24519904.188,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137BKGK03","value_usd":22059041.91,"pct_val":0.2047572925,"balance":22485000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"OKLAHOMA ST DEV FIN AUTH","title":"Oklahoma Development Finance Authority","isin":"US6789084F85","value_usd":21907555.67,"pct_val":0.203351161,"balance":22036712.84,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"MUN","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"World Omni Auto Receivables Tr","title":"World Omni Auto Receivables Trust 2023-B","isin":"US98164QAE89","value_usd":21816608.23,"pct_val":0.2025069652,"balance":21627000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9QJ66","value_usd":21463269.31,"pct_val":0.199227189,"balance":24525851.645,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CarMax Auto Owner Trust","title":"Carmax Auto Owner Trust 2023-2","isin":"US142921AE59","value_usd":21437629.48,"pct_val":0.198989194,"balance":21176000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ABPCI Direct Lending Fund ABS","title":"ABPCI Direct Lending Fund ABS II LLC","isin":"US00090NAA81","value_usd":21228932.74,"pct_val":0.197052021,"balance":21252501.764,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ABPCI Direct Lending Fund ABS","title":"ABPCI Direct Lending Fund ABS I Ltd.","isin":"US00090TAA51","value_usd":21053356.75,"pct_val":0.1954222827,"balance":21269067.638,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CarMax Auto Owner Trust","title":"Carmax Auto Owner Trust 2023-3","isin":"US14319BAD47","value_usd":21032646.37,"pct_val":0.1952300441,"balance":20637000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2025-SFR2 Trust","isin":"US74334GAA40","value_usd":20897615.73,"pct_val":0.1939766574,"balance":21906065.848,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140JCCP74","value_usd":20465788.07,"pct_val":0.18996833,"balance":22238706.697,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYU800","value_usd":20363285.68,"pct_val":0.1890168784,"balance":24008342.711,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133GBN678","value_usd":20169673.26,"pct_val":0.1872197217,"balance":22263349.846,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Toyota Auto Receivables Owner","title":"Toyota Auto Receivables 2023-B Owner Trust","isin":"US891941AE65","value_usd":20064029.76,"pct_val":0.1862391135,"balance":19879000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418D5Q15","value_usd":19732206.11,"pct_val":0.1831590472,"balance":22661572.398,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Enterprise Fleet Financing LLC","title":"Enterprise Fleet Financing 2025-4 LLC","isin":"US29373NAD93","value_usd":19612390.2,"pct_val":0.1820468873,"balance":19554000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MMAF Equipment Finance LLC","title":"Barings Equipment Finance LLC 2025-B","isin":"US06764YAD04","value_usd":19581175.26,"pct_val":0.1817571428,"balance":19621000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"General Motors","title":"GMF Floorplan Owner Revolving Trust","isin":"US361886CW21","value_usd":19435650.48,"pct_val":0.180406347,"balance":18848000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140JCE427","value_usd":19162396.33,"pct_val":0.1778699368,"balance":21009289.336,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137HAGZ36","value_usd":18925323.36,"pct_val":0.1756693689,"balance":18741000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DUA89","value_usd":18754579.32,"pct_val":0.1740844819,"balance":21258453.063,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FPJG15","value_usd":18310650.23,"pct_val":0.1699638262,"balance":19173000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"OKLAHOMA ST DEV FIN AUTH","title":"Oklahoma Development Finance Authority","isin":"US6789084C54","value_usd":18280937.62,"pct_val":0.1696880266,"balance":18690136.86,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"MUN","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BENCHMARK Mortgage Trust","title":"Benchmark 2024-V11 Mortgage Trust","isin":"US081921AZ13","value_usd":18206138.2,"pct_val":0.1689937205,"balance":17340000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BMO Mortgage Trust","title":"BMO 2024-5C7 Mortgage Trust","isin":"US09660WAU53","value_usd":18010745.26,"pct_val":0.1671800366,"balance":17350000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"M&T Equipment Notes","title":"M&T Equipment 2024-LEAF1 Notes","isin":"US55376YAD76","value_usd":17883245.12,"pct_val":0.1659965499,"balance":17531000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XM6A97","value_usd":17629576.17,"pct_val":0.1636419342,"balance":20120699.905,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CNH Equipment Trust","title":"CNH Equipment Trust 2023-B","isin":"US12666DAD30","value_usd":17468038.89,"pct_val":0.1621425066,"balance":17009000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Porsche Financial Auto Securit","title":"Porsche Financial Auto Securitization Trust 2023-1","isin":"US73328QAD60","value_usd":17391843.97,"pct_val":0.1614352471,"balance":17279000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Monroe Capital ABS Funding LTD","title":"Monroe Capital ABS Funding 2021-1 Ltd.","isin":"US610331AA87","value_usd":17338842.28,"pct_val":0.1609432728,"balance":17513009.155,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133GEYN21","value_usd":17259694.73,"pct_val":0.1602086063,"balance":19045262.357,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MMAF Equipment Finance LLC","title":"Barings Equipment Finance LLC 2025-A","isin":"US06764MAD65","value_usd":17189130.35,"pct_val":0.1595536109,"balance":16651000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Towd Point Mortgage Trust","title":"Towd Point Mortgage Trust 2023-1","isin":"US89181JAA07","value_usd":16994479.56,"pct_val":0.1577468158,"balance":17453619.714,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VCP RRL ABS I, Ltd","title":"VCP RRL ABS I Ltd.","isin":"US92243RAA23","value_usd":16974065.93,"pct_val":0.1575573316,"balance":17201643.672,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GREAT AMERICA LEASING RECEIVAB","title":"GreatAmerica Leasing Receivables Funding LLC Series 2023-1","isin":"US39154TCD81","value_usd":16743082.87,"pct_val":0.1554132917,"balance":16501000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SBA TOWER TRUST","title":"SBA Tower Trust","isin":"US78403DAR17","value_usd":16471290.06,"pct_val":0.152890446,"balance":17196000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137BVZ821","value_usd":16456131.34,"pct_val":0.1527497391,"balance":16539000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Toyota Auto Receivables Owner","title":"Toyota Auto Receivables 2023-A Owner Trust","isin":"US891940AD00","value_usd":16283904.77,"pct_val":0.151151091,"balance":16189000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FEZU77","value_usd":16148542.66,"pct_val":0.1498946276,"balance":16051256,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"John Deere Owner Trust","title":"John Deere Owner Trust 2023-C","isin":"US47787CAD56","value_usd":16047560.09,"pct_val":0.1489572833,"balance":15742000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BMO Mortgage Trust","title":"BMO 2025-5C13 Mortgage Trust","isin":"US09664JAC09","value_usd":15991917.45,"pct_val":0.148440795,"balance":15541000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FTFY88","value_usd":15942438.33,"pct_val":0.147981518,"balance":17591000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9T952","value_usd":15927286.57,"pct_val":0.1478408758,"balance":18155713.387,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CLECO SECURITIZATION I","title":"Cleco Securitization I LLC","isin":"US185512AA81","value_usd":15884495.41,"pct_val":0.147443678,"balance":16043162.28,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GM Financial Securitized Term","title":"GM Financial Consumer Automobile Receivables Trust 2023-1","isin":"US38013JAE38","value_usd":15861054.89,"pct_val":0.1472260975,"balance":15767000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"John Deere Owner Trust","title":"John Deere Owner Trust 2023","isin":"US47800CAD83","value_usd":15811331.75,"pct_val":0.1467645554,"balance":15675000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2025-SFR3 Trust","isin":"US74334BAA52","value_usd":15697888.81,"pct_val":0.145711551,"balance":16479000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Nissan Auto Receivables Owner","title":"Nissan Auto Receivables 2023-A Owner Trust","isin":"US65480WAE12","value_usd":15690245.99,"pct_val":0.1456406085,"balance":15538000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYTV10","value_usd":15545831.3,"pct_val":0.1443001169,"balance":17572632.361,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XRYW90","value_usd":15366889.9,"pct_val":0.1426391401,"balance":18089185.731,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2024-SFR3 Trust","isin":"US74331VAA44","value_usd":15333650.45,"pct_val":0.1423306036,"balance":16051065.667,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RHY36","value_usd":15238743.29,"pct_val":0.1414496527,"balance":14768000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FREH09","value_usd":15167431.44,"pct_val":0.1407877191,"balance":16200000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"World Omni Auto Receivables Tr","title":"World Omni Auto Receivables Trust 2023-A","isin":"US98164JAE47","value_usd":14702940.7,"pct_val":0.1364762051,"balance":14612000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ford Credit Auto Owner Trust","title":"Ford Credit Auto Owner Trust 2023-A","isin":"US344928AE62","value_usd":14590060.52,"pct_val":0.1354284244,"balance":14487000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2025-SFR6 Trust","isin":"US74334EAA91","value_usd":14418865.06,"pct_val":0.1338393472,"balance":14804000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38384P7L84","value_usd":14166866.34,"pct_val":0.131500235,"balance":15254263.456,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SBA TOWER TRUST","title":"SBA Tower Trust","isin":"US78403DAT72","value_usd":14088808.04,"pct_val":0.1307756792,"balance":14427000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DU678","value_usd":14061454.14,"pct_val":0.1305217738,"balance":15949377.125,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137F72P90","value_usd":14060245.35,"pct_val":0.1305105535,"balance":15691000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DX805","value_usd":13999008.71,"pct_val":0.1299421404,"balance":15441923.673,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GM Financial Securitized Term","title":"GM Financial Consumer Automobile Receivables Trust 2023-3","isin":"US36267KAE73","value_usd":13987447.67,"pct_val":0.129834828,"balance":13758000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RK59","value_usd":13731891.96,"pct_val":0.1274626989,"balance":13769000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYV303","value_usd":13646561.38,"pct_val":0.1266706401,"balance":16187615.572,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-10","isin":"US46654AAG40","value_usd":13440644.93,"pct_val":0.1247592745,"balance":15296256.783,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RGC25","value_usd":13425962.75,"pct_val":0.124622991,"balance":13136000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Nissan Auto Receivables Owner","title":"Nissan Auto Receivables 2022-B Owner Trust","isin":"US65480JAD28","value_usd":13418440.16,"pct_val":0.1245531645,"balance":13366000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Coinstar Funding, LLC","title":"Coinstar Funding LLC Series 2017-1","isin":"US19260MAA45","value_usd":13355056.75,"pct_val":0.1239648246,"balance":11735790,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GM Financial Revolving Receiva","title":"GM Financial Revolving Receivables Trust 2023-2","isin":"US36268DAA00","value_usd":13333212.6,"pct_val":0.123762062,"balance":12704000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Kubota Credit Owner Trust","title":"Kubota Credit Owner Trust 2023-2","isin":"US500945AD28","value_usd":13136409.59,"pct_val":0.1219352894,"balance":12897000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2021-SFR11 Trust","isin":"US74333XAA81","value_usd":12961275.38,"pct_val":0.1203096519,"balance":13629641.656,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133L8HU23","value_usd":12818961.19,"pct_val":0.1189886576,"balance":14179347.66,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DY894","value_usd":12776790.3,"pct_val":0.1185972174,"balance":14179753.553,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DX722","value_usd":12717523.72,"pct_val":0.1180470908,"balance":14557440.025,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SBA TOWER TRUST","title":"SBA Tower Trust","isin":"US78403DAZ33","value_usd":12683966.23,"pct_val":0.1177356022,"balance":12423000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential Trust","title":"Progress Residential 2024-SFR5 Trust","isin":"US74332HAA41","value_usd":12611186.36,"pct_val":0.1170600421,"balance":13234757.856,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DZG05","value_usd":12552316.42,"pct_val":0.1165135972,"balance":14805311.775,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FEBQ22","value_usd":12257439.49,"pct_val":0.1137764792,"balance":12338034,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418D7A45","value_usd":12091726.82,"pct_val":0.1122382946,"balance":13949764.275,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Corp. Trust 2022-PJ2","isin":"US36267EBT73","value_usd":12051159.65,"pct_val":0.1118617405,"balance":13169070.167,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"John Deere Owner Trust","title":"John Deere Owner Trust 2023-B","isin":"US477920AD44","value_usd":11864370.47,"pct_val":0.1101279187,"balance":11706000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Volkswagen Auto Loan Enhanced","title":"Volkswagen Auto Loan Enhanced Trust 2023-1","isin":"US92867WAE84","value_usd":11776094.73,"pct_val":0.1093085222,"balance":11637000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Enterprise Fleet Financing LLC","title":"Enterprise Fleet Financing 2024-4 LLC","isin":"US29374MAD02","value_usd":11758178.46,"pct_val":0.1091422191,"balance":11576000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PG&E RECOVERY FND LLC","title":"PG&E Recovery Funding LLC","isin":"US71710TAG31","value_usd":11750918.53,"pct_val":0.1090748307,"balance":11550710.07,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XQ5L70","value_usd":11597029.04,"pct_val":0.1076463917,"balance":12823307.868,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DU421","value_usd":11416530.26,"pct_val":0.105970959,"balance":13407131.29,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140KFGF68","value_usd":11388907.46,"pct_val":0.1057145576,"balance":12897715.789,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Wells Fargo Mortgage Backed Se","title":"Wells Fargo Mortgage Backed Securities 2022-2 Trust","isin":"US949930AD32","value_usd":11371186.67,"pct_val":0.105550069,"balance":12765423.698,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FRUT62","value_usd":10991450.56,"pct_val":0.1020252677,"balance":11740000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CarMax Auto Owner Trust","title":"CarMax Auto Owner Trust 2023-1","isin":"US14318DAD12","value_usd":10951470.32,"pct_val":0.1016541616,"balance":10892000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Hyundai Auto Receivables Trust","title":"Hyundai Auto Receivables Trust 2023-B","isin":"US44933XAE76","value_usd":10914296.06,"pct_val":0.1013091012,"balance":10743000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DW401","value_usd":10817401.05,"pct_val":0.1004096986,"balance":12723258.688,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"World Omni Auto Receivables Tr","title":"World Omni Auto Receivables Trust 2023-C","isin":"US98164FAE25","value_usd":10564987.03,"pct_val":0.0980667315,"balance":10417000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Cerberus","title":"Cerberus Loan Funding XL LLC","isin":"US15675AAA79","value_usd":10323285.04,"pct_val":0.0958231959,"balance":10299000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DY225","value_usd":10157650.25,"pct_val":0.0942857342,"balance":11204626.212,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Barclays Commercial Mortgage S","title":"BBCMS Mortgage Trust 2025-5C36","isin":"US05556CAC47","value_usd":10152349.33,"pct_val":0.0942365298,"balance":9736000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MERCEDES-BENZ AUTO RECEIVABLES","title":"Mercedes-Benz Auto Receivables Trust 2023-1","isin":"US58770AAD54","value_usd":10044939.35,"pct_val":0.0932395248,"balance":10006000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-8","isin":"US46592TAF03","value_usd":9998800.73,"pct_val":0.0928112551,"balance":11087019.403,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"M&T Equipment Notes","title":"M&T Equipment 2023-LEAF1 Notes","isin":"US551925AC42","value_usd":9929171.21,"pct_val":0.0921649372,"balance":9785000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Non Gold Pool","isin":"US31288QZD59","value_usd":9859429.37,"pct_val":0.0915175768,"balance":10753866.047,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Non Gold Pool","isin":"US3142BNFA71","value_usd":9816053.01,"pct_val":0.0911149471,"balance":10554690.29,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418D4B54","value_usd":9764487.59,"pct_val":0.0906363046,"balance":10774653.359,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DP710","value_usd":9753621.06,"pct_val":0.0905354388,"balance":11026054.177,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137F1G447","value_usd":9626285.7,"pct_val":0.0893534816,"balance":9702802,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Kubota Credit Owner Trust","title":"Kubota Credit Owner Trust 2023-1","isin":"US50117KAD28","value_usd":9541799.96,"pct_val":0.0885692648,"balance":9456000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-7","isin":"US46592NAF33","value_usd":9359459.13,"pct_val":0.0868767337,"balance":10373597.589,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYVX48","value_usd":9307292.96,"pct_val":0.0863925149,"balance":11032901.666,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Golub Capital Partners Funding","title":"Golub Capital Partners ABS Funding 2020-1 Ltd.","isin":"US38177UAA88","value_usd":9243077.48,"pct_val":0.0857964515,"balance":9271113.326,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ally Auto Receivables Trust","title":"Ally Auto Receivables Trust 2023-1","isin":"US02007WAD02","value_usd":9161710.82,"pct_val":0.0850411867,"balance":8996000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HRT DNT / HRT DNT FIN","title":"Heartland Dental LLC / Heartland Dental Finance Corp.","isin":"US42239PAB58","value_usd":9150983.16,"pct_val":0.08494161,"balance":8756000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SFS Auto Receivables Securitiz","title":"SFS Auto Receivables Securitization Trust 2023-1","isin":"US78398AAE38","value_usd":9102184.18,"pct_val":0.0844886462,"balance":8951000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XNMK76","value_usd":9037615.37,"pct_val":0.0838893031,"balance":9232453.368,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MERCEDES-BENZ AUTO RECEIVABLES","title":"Mercedes-Benz Auto Receivables Trust 2024-1","isin":"US587918AE35","value_usd":9000031.52,"pct_val":0.0835404409,"balance":8831000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2022-PJ3","isin":"US362924BG65","value_usd":8932027.32,"pct_val":0.0829092096,"balance":9988284.404,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYVJ53","value_usd":8841115.03,"pct_val":0.0820653401,"balance":10449311.014,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BMO Mortgage Trust","title":"BMO 2024-5C8 Mortgage Trust","isin":"US09661XAC20","value_usd":8704117.57,"pct_val":0.0807936969,"balance":8363000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYUH07","value_usd":8644436.7,"pct_val":0.0802397249,"balance":10143393.991,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418D2Q42","value_usd":8642844.26,"pct_val":0.0802249435,"balance":9536972.641,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2021-PJ10","isin":"US36262PAH47","value_usd":8578202.57,"pct_val":0.0796249239,"balance":9577480.491,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Corp. Trust 2021-PJ4","isin":"US36264PAH29","value_usd":8564136.46,"pct_val":0.0794943589,"balance":9492664.263,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Non Gold Pool","isin":"US31288QX549","value_usd":8532950.03,"pct_val":0.079204879,"balance":8886190.31,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FVNG37","value_usd":8457863.42,"pct_val":0.0785079071,"balance":9465000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FBBX34","value_usd":8414017.5,"pct_val":0.0781009188,"balance":8509735,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"OKLAHOMA ST DEV FIN AUTH","title":"Oklahoma Development Finance Authority","isin":"US6789083Z58","value_usd":8399097.22,"pct_val":0.0779624252,"balance":8426999.01,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"MUN","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FTBM86","value_usd":8325578.61,"pct_val":0.077280008,"balance":9186000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GREAT AMERICA LEASING RECEIVAB","title":"GreatAmerica Leasing Receivables Funding LLC","isin":"US39154TCR77","value_usd":8173369.1,"pct_val":0.075867163,"balance":8123000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38380PBP80","value_usd":7888418.64,"pct_val":0.0732221848,"balance":120760201.469,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Non Gold Pool","isin":"US3142BNCX02","value_usd":7877301.93,"pct_val":0.0731189968,"balance":8673557.975,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XPQB89","value_usd":7832703.32,"pct_val":0.0727050219,"balance":8000845.083,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PROP SERIES 2017 1A 5.30% 3/15/2042   /","title":"PROP SERIES 2017 1A 5.30% 3/15/2042   /","isin":null,"value_usd":7562436.7,"pct_val":0.0701963426,"balance":7918781.881,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"BRAZOS SECURITIZATN LLC","title":"Brazos Securitization LLC","isin":"US106230AA39","value_usd":7537151.01,"pct_val":0.0699616348,"balance":7444560.04,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140L0LQ83","value_usd":7523763.53,"pct_val":0.069837369,"balance":8573293.229,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XL5Z75","value_usd":7504003.14,"pct_val":0.0696539483,"balance":7671890.181,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CNH Equipment Trust","title":"CNH Equipment Trust 2022-B","isin":"US12663JAD37","value_usd":7411115.95,"pct_val":0.0687917473,"balance":7414000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132CXLX83","value_usd":7403122.08,"pct_val":0.0687175463,"balance":8484103.807,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TEXAS NATURAL GAS SECURITIZTN","title":"Texas Natural Gas Securitization Finance Corp.","isin":"US88258MAA36","value_usd":7358482.69,"pct_val":0.0683031928,"balance":7168188.78,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"MUN","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ford Credit Auto Owner Trust","title":"Ford Credit Auto Owner Trust 2023-B","isin":"US344930AE27","value_usd":7231848.59,"pct_val":0.0671277448,"balance":7137000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137F2LJ39","value_usd":7151995.74,"pct_val":0.0663865316,"balance":7223000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WEPCo Environmental Trust Fina","title":"WEPCO ENVIRONMENTAL TRUST FINANCE I LLC","isin":"US950739AA02","value_usd":7078678.79,"pct_val":0.0657059862,"balance":7851362.815,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Pretium Mortgage Credit Partne","title":"PRET 2024-RPL1 Trust","isin":"US693989AA39","value_usd":6896135.39,"pct_val":0.0640115748,"balance":7150831.561,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BMW Vehicle Owner Trust","title":"BMW Vehicle Owner Trust 2023-A","isin":"US05592XAE04","value_usd":6878138.71,"pct_val":0.0638445253,"balance":6776000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MMAF Equipment Finance LLC","title":"MMAF Equipment Finance LLC 2020-A","isin":"US60700MAE84","value_usd":6865004.01,"pct_val":0.0637226059,"balance":7081000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Non Gold Pool","isin":"US3142BNHB37","value_usd":6842080.69,"pct_val":0.0635098262,"balance":7346280.927,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CNH Equipment Trust","title":"CNH Equipment Trust 2023-A","isin":"US12664QAD60","value_usd":6820575.54,"pct_val":0.0633102102,"balance":6738000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Springcastle SPV","title":"SpringCastle America Funding LLC","isin":"US85022WAP95","value_usd":6683565.07,"pct_val":0.0620384463,"balance":7116851.823,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FRONTIER COMMUNICATIONS","title":"Frontier Communications Holdings LLC","isin":"US35906ABE73","value_usd":5923874.25,"pct_val":0.0549868148,"balance":5925000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Copper Property CTL Pass Throu","title":"Copper Property CTL Pass-Through Trust","isin":"US2175191079","value_usd":5852340,"pct_val":0.0543228168,"balance":520208,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYVN65","value_usd":5834370.9,"pct_val":0.0541560233,"balance":6655701.803,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Towd Point Mortgage Trust","title":"Towd Point Mortgage Trust 2020-4","isin":"US89179JAA43","value_usd":5747958.65,"pct_val":0.0533539242,"balance":6236918.052,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140L0QW07","value_usd":5637348.74,"pct_val":0.0523272166,"balance":6220549.517,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Corp. Trust 2022-PJ4","isin":"US36264RBH75","value_usd":5593740.32,"pct_val":0.0519224329,"balance":6128541.356,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132CXL677","value_usd":5578933.28,"pct_val":0.0517849904,"balance":6168853.997,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38380PLB84","value_usd":5493543.3,"pct_val":0.0509923802,"balance":95966978.322,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac REMICS","isin":"US3137A6WW85","value_usd":5323971.32,"pct_val":0.0494183726,"balance":5413044.588,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2022-PJ1","isin":"US36263NAH89","value_usd":5303760.36,"pct_val":0.0492307697,"balance":5941715.854,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Wells Fargo Mortgage Backed Se","title":"Wells Fargo Mortgage Backed Securities 2021-2 Trust","isin":"US949798AC67","value_usd":5240572.27,"pct_val":0.0486442427,"balance":5839319.769,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418EAA82","value_usd":5174543.4,"pct_val":0.048031347,"balance":6142816.528,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132CXDY58","value_usd":5070539.65,"pct_val":0.0470659594,"balance":5593173.624,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYUP23","value_usd":5054329.37,"pct_val":0.0469154917,"balance":5733423.578,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XPPN37","value_usd":4969029.04,"pct_val":0.0461237136,"balance":5072786.811,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D6AJ91","value_usd":4891637.66,"pct_val":0.0454053484,"balance":5624497.934,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"J.P. Morgan Mortgage Trust 2022-4","isin":"US46655GAE52","value_usd":4885518.87,"pct_val":0.0453485523,"balance":5344221.411,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DZZ85","value_usd":4877761.69,"pct_val":0.0452765483,"balance":5382380.889,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140W0CF01","value_usd":4805260.49,"pct_val":0.0446035749,"balance":5691860.551,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Volvo Financial Equipment LLC","title":"Volvo Financial Equipment LLC Series 2025-2","isin":"US92886CAD11","value_usd":4798550.36,"pct_val":0.0445412898,"balance":4788000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS Mortgage-Backed Securities","title":"GS Mortgage-Backed Securities Trust 2022-PJ3","isin":"US362924BK77","value_usd":4720421.35,"pct_val":0.0438160777,"balance":5162901.073,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FKZZ25","value_usd":4665589.79,"pct_val":0.0433071181,"balance":4691000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Barclays Commercial Mortgage S","title":"BBCMS Trust 2015-SRCH","isin":"US05547HAA95","value_usd":4656431.27,"pct_val":0.0432221065,"balance":4720505.523,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2021-6","isin":"US46653PAF45","value_usd":4388262.2,"pct_val":0.0407328972,"balance":4859336.487,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FRZA27","value_usd":4358126.83,"pct_val":0.0404531735,"balance":4756000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140XAQU91","value_usd":4312665.29,"pct_val":0.0400311886,"balance":4757183.138,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D6AB65","value_usd":4283798.32,"pct_val":0.0397632385,"balance":4725340.78,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9RZ99","value_usd":4229225.96,"pct_val":0.0392566849,"balance":5001801.764,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FMCR12","value_usd":4177292.91,"pct_val":0.0387746299,"balance":4278991.701,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Avis Budget Rental Car Funding","title":"Avis Budget Rental Car Funding AESOP LLC","isin":"US05377RER12","value_usd":4115929.94,"pct_val":0.0382050442,"balance":4211000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FG6X87","value_usd":4070189.22,"pct_val":0.0377804679,"balance":4086000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Sequoia Mortgage Trust","title":"Sequoia Mortgage Trust 2021-5","isin":"US81748XAD66","value_usd":3976740.82,"pct_val":0.0369130575,"balance":4419883.663,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DTJ18","value_usd":3941310.29,"pct_val":0.0365841829,"balance":4464926,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DVZ22","value_usd":3887769.56,"pct_val":0.0360872051,"balance":4569134.42,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3131WRB530","value_usd":3849286.98,"pct_val":0.0357300006,"balance":3929239.14,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Sequoia Mortgage Trust","title":"Sequoia Mortgage Trust 2022-1","isin":"US81749CAD11","value_usd":3724631.77,"pct_val":0.0345729212,"balance":4169977.44,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DSS26","value_usd":3625083.6,"pct_val":0.0336488913,"balance":4104669.488,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D9RW68","value_usd":3428217.32,"pct_val":0.0318215315,"balance":4044864.14,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133KYT901","value_usd":3401873.2,"pct_val":0.0315769991,"balance":3850145.66,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FWHT05","value_usd":3361846.53,"pct_val":0.031205462,"balance":3768000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Sequoia Mortgage Trust","title":"Sequoia Mortgage Trust 2021-4","isin":"US81748WAD83","value_usd":3341399.68,"pct_val":0.0310156694,"balance":3711304.677,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38380PHG28","value_usd":3284569.32,"pct_val":0.0304881564,"balance":50354741.958,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3133D3VP73","value_usd":3252605.77,"pct_val":0.0301914631,"balance":3819677.813,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379UD378","value_usd":3137837.5,"pct_val":0.0291261567,"balance":79210717.094,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38380PAD69","value_usd":3100316.81,"pct_val":0.0287778807,"balance":37978114.712,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"J.P. Morgan Mortgage Trust 2021-15","isin":"US46654TAF57","value_usd":2893568.09,"pct_val":0.0268587897,"balance":3228543.71,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FRUJ80","value_usd":2844620.01,"pct_val":0.0264044419,"balance":3071000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DT936","value_usd":2768183.12,"pct_val":0.0256949365,"balance":3248285.199,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP Morgan Mortgage Trust","title":"JP Morgan Mortgage Trust 2022-3","isin":"US46654UAE55","value_usd":2655264.3,"pct_val":0.024646797,"balance":2971684.174,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132A3KZ23","value_usd":2645719.25,"pct_val":0.0245581976,"balance":2698941.291,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132D57J52","value_usd":2591954.47,"pct_val":0.0240591401,"balance":2859114.099,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140LS6W10","value_usd":2454264.92,"pct_val":0.0227810728,"balance":2686945.828,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3131WQYR25","value_usd":2408358.86,"pct_val":0.0223549618,"balance":2455985.577,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FLYV03","value_usd":2333163.81,"pct_val":0.0216569834,"balance":2376000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Wells Fargo Mortgage Backed Se","title":"Wells Fargo Mortgage Backed Securities 2022-1 Trust","isin":"US95003HAC34","value_usd":2183688.2,"pct_val":0.0202695151,"balance":2444453.993,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Onslow Bay Financial LLC","title":"OBX 2021-J3 Trust","isin":"US67448XAD84","value_usd":2095241.05,"pct_val":0.0194485276,"balance":2329390.705,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US31418DXG23","value_usd":1682957.49,"pct_val":0.0156216131,"balance":1856424.378,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae Pool","isin":"US3140LTAH73","value_usd":1641763.56,"pct_val":0.0152392412,"balance":1809322.377,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FHLMC Multifamily Structured P","title":"Freddie Mac Multifamily Structured Pass-Through Certificates","isin":"US3137FUZC12","value_usd":1561334.04,"pct_val":0.0144926752,"balance":1742000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Citigroup Mortgage Loan Trust","title":"Citigroup Mortgage Loan Trust 2014-A","isin":"US17322GAA76","value_usd":1519657.49,"pct_val":0.0141058236,"balance":1541640.67,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378XR945","value_usd":1105276.56,"pct_val":0.0102594409,"balance":54333636.005,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379Y6T06","value_usd":921680.05,"pct_val":0.0085552542,"balance":28655641.502,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae REMICS","isin":"US3136ABJH73","value_usd":689848.68,"pct_val":0.0064033401,"balance":695825.756,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378XJ850","value_usd":613725.6,"pct_val":0.0056967475,"balance":47993055.817,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379UQY54","value_usd":481074.93,"pct_val":0.0044654523,"balance":24117053.614,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Elm Trust","title":"Elm 2020-4 Trust","isin":"US28924AAB70","value_usd":469115.76,"pct_val":0.0043544445,"balance":469886.372,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379K3S58","value_usd":394314.48,"pct_val":0.0036601211,"balance":42527446.197,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae REMICS","isin":"US3136AGLR15","value_usd":392196.69,"pct_val":0.0036404633,"balance":402470.843,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379KAT51","value_usd":325161.69,"pct_val":0.0030182284,"balance":26254264.526,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LEALAND FINANCE CO BV","title":"Lealand Finance Co. B.V.","isin":"XAN5200EAB73","value_usd":275095.41,"pct_val":0.0025535013,"balance":357266.77,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378XTL54","value_usd":247025.12,"pct_val":0.0022929461,"balance":26170687.412,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378BWM70","value_usd":243247.3,"pct_val":0.0022578795,"balance":21888929.694,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac","title":"Freddie Mac Pool","isin":"US3132A9NL79","value_usd":231508.79,"pct_val":0.0021489198,"balance":235131.7,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378X2M27","value_usd":180963.03,"pct_val":0.001679742,"balance":9742447.081,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378BN627","value_usd":172997.61,"pct_val":0.0016058051,"balance":29926241.135,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378B2X61","value_usd":159875.06,"pct_val":0.0014839985,"balance":11910708.76,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378BE477","value_usd":155430.38,"pct_val":0.0014427419,"balance":11372927.204,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae","title":"Fannie Mae REMICS","isin":"US31398RDH57","value_usd":146069.69,"pct_val":0.0013558537,"balance":143726.3,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378XUN91","value_usd":129461.98,"pct_val":0.001201697,"balance":23409577.193,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Elm Trust","title":"Elm 2020-3 Trust","isin":"US289338AB17","value_usd":110237.44,"pct_val":0.0010232502,"balance":110379.717,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379KV546","value_usd":102317.46,"pct_val":0.0009497351,"balance":7261347.09,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378KQ696","value_usd":94078.27,"pct_val":0.000873257,"balance":6388713.05,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378XRJ27","value_usd":73864.96,"pct_val":0.0006856322,"balance":4765358.226,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378N5W98","value_usd":55082.24,"pct_val":0.0005112865,"balance":8344655.999,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378XGD75","value_usd":45720.86,"pct_val":0.0004243919,"balance":10877631.843,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379KEL89","value_usd":20941.49,"pct_val":0.0001943839,"balance":4397256.255,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38379KYD44","value_usd":6166.86,"pct_val":0.0000572423,"balance":1328006.057,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JC PENNEY CORP INC","title":"Copper Sub Corp., Inc.","isin":"US46611NAJ28","value_usd":2630.28,"pct_val":0.0000244149,"balance":26302796.22,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage A","title":"Government National Mortgage Association","isin":"US38378KEX37","value_usd":2304.21,"pct_val":0.0000213882,"balance":15814729.174,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=924727&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/fpa-new-income-fund.json","page":"https://dealcharts.org/capitalmarkets/funds/fpa-new-income-fund/"},"provenance":{"curator":"CMD+RVL","curator_url":"https://cmdrvl.com","platform":"Dealcharts","platform_url":"https://dealcharts.org/","source":"SEC NPORT-P Public Filings","license":"CC-BY 4.0","license_url":"https://creativecommons.org/licenses/by/4.0/","attribution":"Data curated by CMD+RVL from SEC NPORT-P public filings"},"citation":"Fund: FPA New Income Fund | LEI: 98450097FAFF1111C456 | 363 positions totaling $10,677,207,813 across ABS-MBS, LON, ABS-CBDO, STIV, ABS-O, EC, DBT | Filing: Thu Feb 26 2026 19:00:00 GMT-0500 (Eastern Standard Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-02-27"}
