{"entity_type":"fund","name":"Morningstar Defensive Bond Fund","identifiers":{"lei":"254900JILOAKN6ZD6Q96","cik":"1699360","fund_id":"S000057732","fundkey":"morningstar-defensive-bond-fund"},"dates":{"reporting_period_start":"2026-01-30","reporting_period_end":"2026-04-30","filing_date":"2026-03-26"},"summary":{"total_positions":233,"total_value_usd":121556383.46,"asset_categories":["EP","LON","EC","DE","STIV","DBT","ABS-O","ABS-CBDO","ABS-MBS"],"by_asset_category":{"ABS-O":{"positions":95,"total_value_usd":19292070.95},"EC":{"positions":6,"total_value_usd":60287099.17},"EP":{"positions":1,"total_value_usd":23381},"ABS-MBS":{"positions":81,"total_value_usd":15326518.03},"DBT":{"positions":34,"total_value_usd":17410438.91},"LON":{"positions":1,"total_value_usd":22.55},"ABS-CBDO":{"positions":12,"total_value_usd":4162651.44},"DE":{"positions":1,"total_value_usd":5940.48},"STIV":{"positions":2,"total_value_usd":5048260.93}}},"holdings":[{"issuer_name":"Schwab Strategic Trust","title":"Schwab Strategic Trust SHORT-TERM US TREASURY ETF","isin":"US8085248628","value_usd":39388483.2,"pct_val":35.9026500892,"balance":1612960,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"iShares Trust","title":"iShares Trust ULTRA SHORT DURATION BOND ACTIVE ETF","isin":"US46434V8789","value_usd":13137754,"pct_val":11.9750786651,"balance":258872,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Vanguard Malvern Funds","title":"Vanguard Malvern Funds SH-TERM INFL PROTECTED ETF","isin":"US9220208055","value_usd":6030110.61,"pct_val":5.4964531163,"balance":121257,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Northern Institutional Funds","title":"Northern Institutional Funds TREAS PRT PRMR","isin":"US6652798736","value_usd":4660180.93,"pct_val":4.2477605556,"balance":4660180.93,"units":"NS","currency":"USD","asset_cat":"STIV","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 4.375 12/31/29","isin":"US91282CMD01","value_usd":2794162.26,"pct_val":2.4411704338,"balance":2746000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 3.625 08/31/30","isin":"US91282CNX55","value_usd":1875058.84,"pct_val":1.7091184011,"balance":1887000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 3.875 06/30/30","isin":"US91282CNK35","value_usd":1426785.94,"pct_val":1.2276585674,"balance":1416000,"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","title":"PHI Group Inc COM","isin":"US69360B1044","value_usd":1420384,"pct_val":1.2946817344,"balance":44387,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"United States Treasury Bills","title":"B 0 08/14/25","isin":"US912797PN17","value_usd":1241078.31,"pct_val":1.0842905295,"balance":1243000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 3.625 10/31/30","isin":"US91282CPD73","value_usd":1160689.13,"pct_val":1.0579695462,"balance":1169000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Bills","title":"B 0 08/07/25","isin":"US912797MG92","value_usd":1050252.34,"pct_val":0.9175719668,"balance":1051000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fortress Credit Investments IV LLC","title":"FCO 2017-9A A1TR","isin":"US34961JAY01","value_usd":956862,"pct_val":0.8359798059,"balance":954000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 3.625 09/30/30","isin":"US91282CPA35","value_usd":936664.22,"pct_val":0.8537705697,"balance":943000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Bills","title":"B 0 02/05/26","isin":"US912797RL33","value_usd":923723.42,"pct_val":0.8419750149,"balance":924000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 4.625 09/30/30","isin":"US91282CHZ77","value_usd":914456.88,"pct_val":0.8335285524,"balance":883000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS1967","isin":"US3140XHFH52","value_usd":899746.42,"pct_val":0.8201199503,"balance":1025079.02,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K096 A2","isin":"US3137FNB820","value_usd":737070.14,"pct_val":0.6342019828,"balance":774000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K095 A2","isin":"US3137FNAE00","value_usd":697537.07,"pct_val":0.6001862901,"balance":725000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Abpci Direct Lending Fund ABS II LLC","title":"ABDLF 2022-2A C","isin":"US00090NAG51","value_usd":684281.34,"pct_val":0.6237232693,"balance":709700.4,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SB1000","isin":"US3132CXDD12","value_usd":668131,"pct_val":0.6090022148,"balance":735235.32,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS6519","isin":"US3140XNG578","value_usd":663771,"pct_val":0.6050280695,"balance":732852.19,"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 ABS FUNDING","title":"GCPAF 2021-2A B","isin":"US38178XAC74","value_usd":652279.02,"pct_val":0.5945531159,"balance":670669.65,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS1680","isin":"US3140XG2N80","value_usd":631858.5,"pct_val":0.5759397872,"balance":719874.93,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4473","isin":"US31418D6K36","value_usd":593276.81,"pct_val":0.5407725301,"balance":712026.5,"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 2024-SFR4 TRUS","title":"PROG 2024-SFR4 A","isin":"US74334JAA88","value_usd":575579.06,"pct_val":0.5246410095,"balance":600133.21,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FH 841463","isin":"US31288QTU49","value_usd":567477.85,"pct_val":0.5172567468,"balance":619332.98,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD","title":"FHMS K754 A2","isin":"US3137HBC514","value_usd":564225.69,"pct_val":0.514292399,"balance":545000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K094 A2","isin":"US3137FMTY89","value_usd":513666.75,"pct_val":0.4419775726,"balance":532000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Notes","title":"T 3.5 11/30/30","isin":"US91282CPN55","value_usd":511322.66,"pct_val":0.4660712232,"balance":518000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD","title":"FHMS K751 A2","isin":"US3137HA4B92","value_usd":510862.01,"pct_val":0.4656513402,"balance":504000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Arbor Multifamily Mortgage Securities Trust 2021-MF2","title":"AMMST 2020-MF1 A5","isin":"US03881BAE39","value_usd":508179.69,"pct_val":0.4632064022,"balance":540000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS6156","isin":"US3140XMZW94","value_usd":500508.19,"pct_val":0.4562138207,"balance":550703,"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 Corp.","title":"OCINCC 7.95 06/13/28","isin":"US69120VBB62","value_usd":494593.61,"pct_val":0.4508226739,"balance":468000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS MTG BACK SEC TR 2022-PJ5","title":"GSMBS 2022-PJ5 A22","isin":"US362925BG31","value_usd":491945.77,"pct_val":0.4484091645,"balance":549481.67,"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 AESOP LLC","title":"AESOP 2024-3A A","isin":"US05377RJK14","value_usd":479835.07,"pct_val":0.4373702468,"balance":467000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5104","isin":"US3133KYU560","value_usd":479690.65,"pct_val":0.4372386078,"balance":562732.83,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ABPCI DIRECT LENDING FUND ABS I LTD","title":"ABDLF 2020-1A B","isin":"US00090TAC18","value_usd":467618.09,"pct_val":0.4262344548,"balance":474412.63,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MidCap Financial Issuer Trust","title":"MIDCAP 6.5 05/01/28","isin":"US59567LAA26","value_usd":461861.61,"pct_val":0.4209874163,"balance":461000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Cerberus Loan Funding XLIII LLC","title":"CERB 2023-4A A","isin":"US156940AA68","value_usd":457627.31,"pct_val":0.4171278467,"balance":451000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K117 A2","isin":"US3137FX3Q92","value_usd":440303.58,"pct_val":0.4013372459,"balance":493000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Virginia Power Fuel Securitization LLC","title":"VIRPFS 4.877 05/01/31 A-2","isin":"US92808VAB80","value_usd":433874.81,"pct_val":0.3954774142,"balance":424000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5137","isin":"US3133KYV634","value_usd":424940.56,"pct_val":0.3873338345,"balance":502712.02,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TOYTA AUT LN EXT TR 2024-1","title":"TALNT 2024-1A A","isin":"US89231JAA07","value_usd":423095.08,"pct_val":0.3640464103,"balance":409000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5110","isin":"US3133KYVB28","value_usd":421606.63,"pct_val":0.3842949533,"balance":495799.1,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CERBERUS LOAN FUNDING XLI LLC","title":"CERB 2023-2A A1","isin":"US15674VAA26","value_usd":421464.98,"pct_val":0.3841658392,"balance":419000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4445","isin":"US31418D5F59","value_usd":409909.25,"pct_val":0.3736327773,"balance":484746.27,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SLG Office Trust Commercial Mortgage Pass Through Certificates 2021-Ova","title":"SLG 2021-OVA A","isin":"US78449RAA32","value_usd":408092.73,"pct_val":0.3719770171,"balance":455000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS7700","isin":"US3140XPRW18","value_usd":406048.75,"pct_val":0.3701139269,"balance":464923.84,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BX Trust 2018-Bilt","title":"BX 2019-OC11 A","isin":"US05606FAA12","value_usd":398124.14,"pct_val":0.3628906353,"balance":418000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Northern Institutional Funds","title":"Northern Institutional Funds LIQ ASET PORTF","isin":"US6652791053","value_usd":388080,"pct_val":0.3537353895,"balance":388080,"units":"NS","currency":"USD","asset_cat":"STIV","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"Ford Credit Floorplan Master Owner Trust A","title":"FORDF 2024-2 A","isin":"US34528QJF28","value_usd":387211.03,"pct_val":0.3331704673,"balance":374000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K101 A2","isin":"US3137FQ3Z46","value_usd":384771.78,"pct_val":0.350719943,"balance":404000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS9361","isin":"US3140XRMK80","value_usd":373033.25,"pct_val":0.3400202587,"balance":411996.92,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SB1298","isin":"US3132CXNP32","value_usd":372727.49,"pct_val":0.3397415581,"balance":411520.31,"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":"JPMMT 2021-11 A4","isin":"US46654KAF49","value_usd":368480.15,"pct_val":0.3358701025,"balance":406555.18,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Kansas Gas Service Securitization I LLC","title":"OGS 5.486 08/01/32 22A","isin":"US484915AA16","value_usd":365821.8,"pct_val":0.3334470133,"balance":351477.07,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K103 A2","isin":"US3137FQKN20","value_usd":364952.91,"pct_val":0.332655019,"balance":382000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BX Trust 2018-Bilt","title":"BX 2021-VOLT F","isin":"US05609VAQ86","value_usd":358130.35,"pct_val":0.3081483915,"balance":358466.41,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Gmf Floorplan Owner Revolving Trust","title":"GFORT 2024-2A A","isin":"US361886DF88","value_usd":352550.49,"pct_val":0.3033472768,"balance":342000,"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 46M-R","title":"GOCAP 2019-46A A1R","isin":"US38178UAA79","value_usd":343303.93,"pct_val":0.3129219475,"balance":343000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K097 A2","isin":"US3137FNX543","value_usd":342664.53,"pct_val":0.3123391337,"balance":359000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS9622","isin":"US3140XRVQ59","value_usd":337488.68,"pct_val":0.3076213401,"balance":382495.61,"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 Fund","title":"OAKSCF 8.4 11/14/28 *","isin":"US67403AAB52","value_usd":337195.17,"pct_val":0.3073538054,"balance":313000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CenterPoint Energy Restoration Bond Co II LLC","title":"CNP 4.255 12/15/35 A-1","isin":"US15201GAA76","value_usd":320511.73,"pct_val":0.2921468297,"balance":321000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SCE Recovery Funding LLC","title":"EIX 4.453 03/15/36","isin":"US78433LAJ52","value_usd":313295.5,"pct_val":0.2855692273,"balance":312000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CHI COMMERCIAL MORTGAGE TRUST 2025-","title":"CHI 2025-SFT A","isin":"US16706GAA58","value_usd":298536.75,"pct_val":0.2721166088,"balance":291000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS7513","isin":"US3140XPK328","value_usd":298161.98,"pct_val":0.2717750055,"balance":303311.64,"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":"JPMMT 2021-10 A4","isin":"US46654AAF66","value_usd":295833.46,"pct_val":0.2696525567,"balance":327183.46,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"J.P. MORGAN MTG TRUST 2021-13","title":"JPMMT 2021-13 A4","isin":"US46592XAF15","value_usd":290182.03,"pct_val":0.2645012714,"balance":319527.46,"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 Funding LLC","title":"PCG 4.838 06/01/33 A-1","isin":"US71710TAG31","value_usd":286684.04,"pct_val":0.2613128493,"balance":281195.43,"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 Through Trust","title":"Copper Property CTL Pass Through Trust EQUITY CTFS","isin":"US2175191079","value_usd":279874.56,"pct_val":0.255106,"balance":25536,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS9576","isin":"US3140XRUA17","value_usd":279064.6,"pct_val":0.2543677205,"balance":308967.82,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5113","isin":"US3133KYVE66","value_usd":269712.4,"pct_val":0.2458431789,"balance":317478.65,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0443","isin":"US3132D9P406","value_usd":269316.53,"pct_val":0.2454823429,"balance":307271.07,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Diamond Issuer Llc","title":"SHINE 2021-1A C","isin":"US25267TAS06","value_usd":263840.86,"pct_val":0.2270182815,"balance":282000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K102 A2","isin":"US3137FQKC64","value_usd":258348.64,"pct_val":0.2354850979,"balance":271000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Bills","title":"B 0 02/19/26","isin":"US912797PM34","value_usd":257561.28,"pct_val":0.2347674183,"balance":258000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FA1527","isin":"US3140W1VV23","value_usd":254881.24,"pct_val":0.2323245586,"balance":301305.1,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Cerberus Loan Funding XL LLC","title":"CERB 2023-1A A","isin":"US15675AAA79","value_usd":251011.23,"pct_val":0.2287970398,"balance":250000,"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 2025-S1","title":"SEMT 2025-S1 A4","isin":"US81749TAD46","value_usd":250771.54,"pct_val":0.2285785621,"balance":279382.86,"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 Trust 2022-PJ6","title":"GSMBS 2022-PJ6 A15","isin":"US36267JAX81","value_usd":244827.69,"pct_val":0.2231607356,"balance":273193.02,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Verizon Master Trust","title":"VZMT 2024-7 A","isin":"US92348KDJ97","value_usd":235132.04,"pct_val":0.2143231389,"balance":233000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BX Trust 2018-Bilt","title":"BX 2021-VOLT E","isin":"US05609VAN55","value_usd":234236.61,"pct_val":0.201545707,"balance":234456.41,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN 310215","isin":"US31374CSC19","value_usd":228405.57,"pct_val":0.2081919534,"balance":239764.47,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FA1315","isin":"US3140W1N900","value_usd":217586.96,"pct_val":0.1983307773,"balance":257026.33,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Frontier Communications Holdings Llc","title":"FYBR 6 01/15/30 144A","isin":"US35908MAB63","value_usd":216544.25,"pct_val":0.1891878035,"balance":214000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR QK0692","isin":"US3133D3XV24","value_usd":215922.66,"pct_val":0.1968137658,"balance":253286.01,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HPS Corporate Lending Fund","title":"HLEND 6.75 01/30/29","isin":"US40440VAF22","value_usd":215824.25,"pct_val":0.196724065,"balance":207000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ROCK TR 2024-CNTR","title":"ROCC 2024-CNTR A","isin":"US74970WAA80","value_usd":214999.85,"pct_val":0.1959726234,"balance":209000,"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 ABS FUNDING","title":"GCPAF 2021-1A B","isin":"US38178HAC25","value_usd":209218.81,"pct_val":0.1907031984,"balance":211695.33,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS MORTGAGE TRUST 2021-PJ7 A2","title":"GSMBS 2021-PJ7 A8","isin":"US36262CAJ99","value_usd":201435.73,"pct_val":0.1836089116,"balance":222976.16,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"J.P. MORGAN MORTGAGE TRUST 2024-3","title":"JPMMT 2024-3 A4","isin":"US46657QAH48","value_usd":199400.49,"pct_val":0.1817537879,"balance":217844.09,"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 Owner Trust A","title":"FORDF 2024-4 A","isin":"US34528QJQ82","value_usd":199142.22,"pct_val":0.1815183745,"balance":197000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN BQ6602","isin":"US3140KSKQ98","value_usd":198862.15,"pct_val":0.1812630903,"balance":220169.64,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR QN7387","isin":"US3133GEF454","value_usd":195560.91,"pct_val":0.1782540061,"balance":216206.86,"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 Trust 2021-Pj5","title":"GSMBS 2021-PJ5 A8","isin":"US36261HAJ95","value_usd":193745.41,"pct_val":0.1765991756,"balance":213599.55,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0457","isin":"US3132D9QJ66","value_usd":182963.27,"pct_val":0.166771242,"balance":208896.4,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Consolidated Communications, Inc.","title":"CNSL 6.5 10/01/28 144A","isin":"US20903XAF06","value_usd":182423.15,"pct_val":0.1593772869,"balance":180000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0659","isin":"US3132D9WU48","value_usd":182030.78,"pct_val":0.1659212762,"balance":215185.41,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K151 A3","isin":"US3137BKGK03","value_usd":179125.71,"pct_val":0.1632733014,"balance":183000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN BM7277","isin":"US3140JCCP74","value_usd":173714.26,"pct_val":0.1583407582,"balance":188452.21,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Abpci Direct Lending Fund ABS II LLC","title":"ABDLF 2022-2A A1","isin":"US00090NAA81","value_usd":168093.17,"pct_val":0.1532171278,"balance":170024.5,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VT Topco Inc.","title":"VERCOR 8.5 08/15/30 144A","isin":"US91838PAA93","value_usd":168024.56,"pct_val":0.1531545897,"balance":164000,"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 2022-","title":"GSMBS 2022-PJ4 A22","isin":"US36264RBE45","value_usd":165143.74,"pct_val":0.1505287188,"balance":184086.25,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN BM7354","isin":"US3140JCE427","value_usd":164313.4,"pct_val":0.1497718629,"balance":179853.34,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0592","isin":"US3132D9UR37","value_usd":161679.24,"pct_val":0.1473708229,"balance":195138.04,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS7748","isin":"US3140XPTE91","value_usd":159947.47,"pct_val":0.1457923124,"balance":176769.43,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS6264","isin":"US3140XM6A97","value_usd":150405.65,"pct_val":0.1370949319,"balance":171480.2,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BANK5 2025-5YR13","title":"BANK5 2025-5YR18 A3","isin":"US06604CAC47","value_usd":149090.09,"pct_val":0.1358957974,"balance":145000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K099 A2","isin":"US3137FPJG15","value_usd":148254.97,"pct_val":0.1351345845,"balance":155000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR QN7917","isin":"US3133GEYN21","value_usd":146747.43,"pct_val":0.13376046,"balance":162472.24,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FA1222","isin":"US3140W1LC51","value_usd":145692.36,"pct_val":0.1327987624,"balance":172373.38,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR QN4913","isin":"US3133GBN678","value_usd":145322.62,"pct_val":0.1324617439,"balance":159900.9,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MONROE CAPITAL FDG 2021-1 LTD","title":"MCAF 2021-1A A2","isin":"US610331AA87","value_usd":145124.85,"pct_val":0.1322814763,"balance":147350.13,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD","title":"FHMS K752 A2","isin":"US3137HAGZ36","value_usd":137210.54,"pct_val":0.1250675732,"balance":136000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K109 A2","isin":"US3137FTFY88","value_usd":137196.71,"pct_val":0.1250549671,"balance":151000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Frontier Communications Holdings Llc","title":"FYBR 5.875 10/15/27 144A","isin":"US35906ABE73","value_usd":137024.8,"pct_val":0.1197141967,"balance":137000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MMAF EQUIPMENT FINANCE LLC 2024-A","title":"MMAF 2024-A A4","isin":"US55318CAD65","value_usd":136108.47,"pct_val":0.1240630351,"balance":132000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"J P MORGAN SEASONED MORTGAGE TRUST 2025-1","title":"JPSMT 2025-1 A4","isin":"US46659PAG63","value_usd":134559.25,"pct_val":0.1226509192,"balance":143170.59,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Benchmark 2020-B16 Mortgage Trust","title":"BMARK 2024-V11 A3","isin":"US081921AZ13","value_usd":132489.38,"pct_val":0.1207642302,"balance":126000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4454","isin":"US31418D5Q15","value_usd":131034.73,"pct_val":0.1194383149,"balance":149282.39,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BMO 2024-5C7 MORTGAGE TRUST","title":"BMO 2024-5C7 A3","isin":"US09660WAU53","value_usd":130767.56,"pct_val":0.1191947891,"balance":126000,"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 AESOP LLC","title":"AESOP 2024-1A A","isin":"US05377RHY36","value_usd":129049.71,"pct_val":0.1176289668,"balance":125000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K120 A2","isin":"US3137F72P90","value_usd":124866.7,"pct_val":0.1138161481,"balance":140000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PROGRESS RESIDENTIAL 2024-SFR3","title":"PROG 2024-SFR3 A","isin":"US74331VAA44","value_usd":124625.54,"pct_val":0.1135963305,"balance":130577.51,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5107","isin":"US3133KYU800","value_usd":122476.26,"pct_val":0.1116372592,"balance":143927.68,"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 Association","title":"GNR 2020-75 IO","isin":"US38380PLB84","value_usd":121789.08,"pct_val":0.1110108938,"balance":2037564.15,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Bills","title":"B 0 11/13/25","isin":"US912797QQ39","value_usd":117873.38,"pct_val":0.1014225475,"balance":118000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HOTWIRE FUNDING LLC","title":"HWIRE 2023-1A A2","isin":"US44148HAA14","value_usd":115979.79,"pct_val":0.0997932338,"balance":115000,"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 ABS FUNDING","title":"GCPAF 2020-1A B","isin":"US38177UAC45","value_usd":115111.33,"pct_val":0.1049241166,"balance":117958.7,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4176","isin":"US31418DUA89","value_usd":114839.46,"pct_val":0.1046763067,"balance":129978.43,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Springcastle I Spv Llc","title":"SCFT 2020-AA A","isin":"US85022WAP95","value_usd":114741.1,"pct_val":0.1045866515,"balance":121379.48,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K104 A2","isin":"US3137FREH09","value_usd":110925.17,"pct_val":0.1011084267,"balance":118000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS MTG -BACK SEC TR 2021-PJ6","title":"GSMBS 2021-PJ6 A8","isin":"US36262LAJ98","value_usd":110622.88,"pct_val":0.100832889,"balance":122204.7,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4334","isin":"US31418DY894","value_usd":109548.13,"pct_val":0.099853253,"balance":120951.54,"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":"JPMMT 2021-10 A4A","isin":"US46654AAG40","value_usd":108074.55,"pct_val":0.0985100831,"balance":121879.12,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RC2043","isin":"US3133L8HU23","value_usd":106666.42,"pct_val":0.0972265709,"balance":118093.39,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4301","isin":"US31418DX722","value_usd":106023.83,"pct_val":0.0966408493,"balance":120785.21,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0576","isin":"US3132D9T952","value_usd":104553.68,"pct_val":0.0953008058,"balance":118992.54,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BBCMS MORTGAGE TRUST 2025-5C36","title":"BBCMS 2025-5C36 A3","isin":"US05556CAC47","value_usd":104277.85,"pct_val":0.0950493864,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Evergreen AcqCo 1 LP/TVI Inc.","title":"EVRGRN 9.75 04/26/28 144A","isin":"US30015DAA90","value_usd":104111.2,"pct_val":0.0909586343,"balance":100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WHARF COMMERCIAL MORTGAGE TRUST 2025-DC","title":"WHARF 2025-DC A","isin":"US92987LAA52","value_usd":103062.5,"pct_val":0.0939415934,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BMO 2025-C13 MORTGAGE TRUST","title":"BMO 2025-5C13 A3","isin":"US09664JAC09","value_usd":103001.47,"pct_val":0.0938859645,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS9724","isin":"US3140XRYW90","value_usd":101016.51,"pct_val":0.0920766711,"balance":119156.95,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GreatAmerica Leasing Receivables Funding LLC","title":"GALC 2025-2 A4","isin":"US39154TCR77","value_usd":100636.57,"pct_val":0.0917303553,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4302","isin":"US31418DX805","value_usd":100563.01,"pct_val":0.0916633053,"balance":111029.73,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DIAMOND INFRASTRUCTURE FUNDING","title":"DNFRA 2021-1A C","isin":"US25265LAE02","value_usd":100211.78,"pct_val":0.0862258639,"balance":104000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Barings Equipment Finance LLC 2026-A","title":"MMAF 2026-A A4","isin":"US06764QAC96","value_usd":100093.75,"pct_val":0.0912355742,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VOLVO FINANCIAL EQUIPMENT LLC 2025-2","title":"VFET 2025-2A A4","isin":"US92886CAD11","value_usd":99776.26,"pct_val":0.0909461817,"balance":100000,"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 2024-SFR5 TR","title":"PROG 2024-SFR5 A","isin":"US74332HAA41","value_usd":99258.43,"pct_val":0.090474179,"balance":104414.27,"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 Trust 2020-Pj2","title":"GSMBS 2022-PJ2 A24","isin":"US36267EBT73","value_usd":97427.23,"pct_val":0.088805038,"balance":106215.89,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VCP RRL ABS 2021-1 LTD","title":"VCRRL 2021-1A A","isin":"US92243RAA23","value_usd":97160.29,"pct_val":0.0885617219,"balance":98214.46,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Progress Residential 2025-SFR3 Trust","title":"PROG 2025-SFR3 A","isin":"US74334BAA52","value_usd":95217.5,"pct_val":0.0867908664,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EchoStar Corp.","title":"SATS 3.875 11/30/30","isin":"US278768AB27","value_usd":93639.38,"pct_val":0.0853524082,"balance":27000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4202","isin":"US31418DU421","value_usd":93448.21,"pct_val":0.0851781565,"balance":109331.45,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K106 A2","isin":"US3137FRUT62","value_usd":93143.15,"pct_val":0.0849000939,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K105 A2","isin":"US3137FRUJ80","value_usd":92497.81,"pct_val":0.0843118657,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K107 A2","isin":"US3137FRZA27","value_usd":91811.02,"pct_val":0.0836858558,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K108 A2","isin":"US3137FTBM86","value_usd":91081.68,"pct_val":0.0830210615,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5134","isin":"US3133KYV303","value_usd":90531.62,"pct_val":0.0825196812,"balance":107100.21,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K111 A2","isin":"US3137FUZC12","value_usd":89868.35,"pct_val":0.0819151097,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K114 A2","isin":"US3137FVNG37","value_usd":89509.23,"pct_val":0.0815877714,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHMS K116 A2","isin":"US3137FWHT05","value_usd":89419.98,"pct_val":0.08150642,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage Association","title":"GNR 2020-42 IO","isin":"US38380PBP80","value_usd":88770.43,"pct_val":0.0809143543,"balance":1346673.55,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MONROE CAPITAL FDG 2021-1 LTD","title":"MCAF 2021-1A B","isin":"US610331AC44","value_usd":88419.65,"pct_val":0.0805946179,"balance":89048.33,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TEXAS NAT GAS SECURITIZATION FIN CORP","title":"TX TNGUTL 5.1 04/01/2035","isin":"US88258MAA36","value_usd":86326.74,"pct_val":0.0786869279,"balance":83730.75,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"MUN","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FH 841640","isin":"US31288QZD59","value_usd":84288.61,"pct_val":0.07682917,"balance":91975.28,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4417","isin":"US31418D4B54","value_usd":82847.49,"pct_val":0.0755155874,"balance":91723.81,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Heartland Dental LLC / Heartland Dental Finance Corp.","title":"HEARTL 10.5 04/30/28 144A","isin":"US42239PAB58","value_usd":82297.3,"pct_val":0.0750140885,"balance":79000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VCP RRL ABS 2021-1 LTD","title":"VCRRL 2021-1A B","isin":"US92243RAC88","value_usd":81684.6,"pct_val":0.0744556117,"balance":90592.16,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FH 8D0161","isin":"US3142BNFA71","value_usd":81264.65,"pct_val":0.0740728268,"balance":87494.87,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS7628","isin":"US3140XPPN37","value_usd":81041.51,"pct_val":0.0738694344,"balance":82423.9,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4488","isin":"US31418D7A45","value_usd":80978.58,"pct_val":0.0738120736,"balance":92258.96,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS7649","isin":"US3140XPQB89","value_usd":80067.55,"pct_val":0.0729816687,"balance":81484.67,"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 ABS FUNDING","title":"GCPAF 2021-1A A2","isin":"US38178HAA68","value_usd":79130.04,"pct_val":0.0721271272,"balance":79558.93,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Texas Electric Market Stabilization Funding N LLC","title":"ERCOTT 4.265 08/01/34 A-1","isin":"US88240TAA97","value_usd":79037,"pct_val":0.0720423211,"balance":79538.59,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5084","isin":"US3133KYUH07","value_usd":78279.42,"pct_val":0.071351786,"balance":91751.1,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR ZS3012","isin":"US3132A3KZ23","value_usd":77650.76,"pct_val":0.0707787617,"balance":78891.77,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Banks","title":"FR ZJ0720","isin":"US3131WQYR25","value_usd":77532.07,"pct_val":0.0706705756,"balance":78738.19,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5090","isin":"US3133KYUP23","value_usd":77427.21,"pct_val":0.0705749956,"balance":87254.95,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS6661","isin":"US3140XNMK76","value_usd":76719.25,"pct_val":0.0699296892,"balance":78093.47,"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":"JPMMT 2021-6 A4","isin":"US46653PAF45","value_usd":74512.15,"pct_val":0.0679179149,"balance":81950.87,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRET 2024-RPL1 TRUST","title":"PRET 2024-RPL1 A1","isin":"US693989AA39","value_usd":74498.66,"pct_val":0.0679056187,"balance":76982.06,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SB1242","isin":"US3132CXLX83","value_usd":74037.33,"pct_val":0.0674851159,"balance":84346.04,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN FS5363","isin":"US3140XL5Z75","value_usd":73525.46,"pct_val":0.0670185457,"balance":74921.15,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FH 841600","isin":"US31288QX549","value_usd":73369.75,"pct_val":0.0668766159,"balance":76447.63,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4328","isin":"US31418DY225","value_usd":72929.82,"pct_val":0.0664756192,"balance":80652.7,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0504","isin":"US3132D9RZ99","value_usd":72823.13,"pct_val":0.0663783711,"balance":86023.21,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR QK0622","isin":"US3133D3VP73","value_usd":72618.47,"pct_val":0.0661918233,"balance":84960.5,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4266","isin":"US31418DW401","value_usd":72480.66,"pct_val":0.0660662093,"balance":84947.22,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5130","isin":"US3133KYVX48","value_usd":71780.56,"pct_val":0.0654280673,"balance":84886.05,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SC0501","isin":"US3132D9RW68","value_usd":71283.94,"pct_val":0.0649753975,"balance":86200.58,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4175","isin":"US31418DT936","value_usd":70866.32,"pct_val":0.0645947364,"balance":83064.33,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELM TRUST","title":"MDCP 2020-4A B","isin":"US28924AAC53","value_usd":69251.45,"pct_val":0.0595864688,"balance":69378.88,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage Association","title":"GNR 2020-71 IO","isin":"US38380PHG28","value_usd":69032.25,"pct_val":0.0629229794,"balance":1030256.68,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4204","isin":"US31418DU678","value_usd":68573.21,"pct_val":0.0625045639,"balance":77759.99,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FH 8D0086","isin":"US3142BNCX02","value_usd":67418.98,"pct_val":0.0614524818,"balance":74331.15,"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 Association","title":"GNR 2020-43 IO","isin":"US38380PAD69","value_usd":65141.01,"pct_val":0.0593761094,"balance":858638.17,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FN BR2134","isin":"US3140L0LQ83","value_usd":63967.19,"pct_val":0.0583061711,"balance":72951.26,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS MBS TR 2022-PJ3","title":"GSMBS 2022-PJ3 A24","isin":"US362924BK77","value_usd":63518.99,"pct_val":0.0578976362,"balance":69302.46,"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 MTG 2021-7 TR","title":"JPMMT 2021-7 A4","isin":"US46592NAF33","value_usd":62637.03,"pct_val":0.0570937286,"balance":68983.92,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"J.P. MORGAN MORTGAGE TRUST 2022-3","title":"JPMMT 2022-3 A4A","isin":"US46654UAE55","value_usd":62502.44,"pct_val":0.0569710497,"balance":69481.73,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS MBS TR 2022-PJ3","title":"GSMBS 2022-PJ3 A22","isin":"US362924BG65","value_usd":62401.59,"pct_val":0.0568791248,"balance":69302.46,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4382","isin":"US31418D2Q42","value_usd":61999.73,"pct_val":0.0565128289,"balance":68544.26,"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 2021-8","title":"JPMMT 2021-8 A4","isin":"US46592TAF03","value_usd":61870.66,"pct_val":0.0563951814,"balance":68158.53,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Wepco Environmental Trust Finance I Llc","title":"WEPCO 2021-1 A","isin":"US950739AA02","value_usd":59800.94,"pct_val":0.0545086292,"balance":66351.42,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GS MBS TRUST 2021-PJ10","title":"GSMBS 2021-PJ10 A8","isin":"US36262PAH47","value_usd":59564.11,"pct_val":0.0542927583,"balance":66047.77,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5121","isin":"US3133KYVN65","value_usd":59545.73,"pct_val":0.0542760049,"balance":68102.55,"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 2021-15","title":"JPMMT 2021-15 A4","isin":"US46654TAF57","value_usd":59282.7,"pct_val":0.0540362528,"balance":65706.01,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5117","isin":"US3133KYVJ53","value_usd":59266.34,"pct_val":0.0540213406,"balance":69550.43,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FH 8D0226","isin":"US3142BNHB37","value_usd":58869.52,"pct_val":0.0536596387,"balance":63454.74,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4278","isin":"US31418DXG23","value_usd":54281.49,"pct_val":0.0494776438,"balance":59930.33,"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 Trust 2020-Pj2","title":"GSMBS 2021-PJ4 A8","isin":"US36264PAH29","value_usd":53544.23,"pct_val":0.0488056304,"balance":58968.7,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SB8109","isin":"US3132D6AJ91","value_usd":52585.6,"pct_val":0.047931838,"balance":59909.22,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FN MA4359","isin":"US31418DZZ85","value_usd":52551.67,"pct_val":0.0479009108,"balance":58117.08,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SB8102","isin":"US3132D6AB65","value_usd":50943.31,"pct_val":0.0464348887,"balance":56246.21,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR SB8097","isin":"US3132D57J52","value_usd":50222.26,"pct_val":0.0457776507,"balance":55449.65,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FNR 2012-144 PD","isin":"US3136ABJH73","value_usd":46616.64,"pct_val":0.0424911238,"balance":46790.69,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLUB CAPITAL PARTNERS ABS FUNDING","title":"GCPAF 2020-1A A2","isin":"US38177UAA88","value_usd":44078.79,"pct_val":0.0401778704,"balance":44266.05,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FHR 4162 P","isin":"US3137AYHU88","value_usd":43817.37,"pct_val":0.0399395858,"balance":44646.82,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal Home Loan Mortgage Corp.","title":"FR RB5076","isin":"US3133KYT901","value_usd":40992.94,"pct_val":0.0373651144,"balance":46151.02,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Uniti Group LLC","title":"Uniti Group LLC COM SHS","isin":"US9129321009","value_usd":30492.8,"pct_val":0.0277942241,"balance":3665,"units":"NS","currency":"USD","asset_cat":"EC","issuer_cat":"CORP","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"ELM TR 2020-3","title":"MDCP 2020-3A B","isin":"US289338AC99","value_usd":27873.75,"pct_val":0.0239835893,"balance":27916.02,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Uniti Group Inc.","title":"Uniti Group Inc. PFD SER","isin":"US97382C2061","value_usd":23381,"pct_val":0.0213118098,"balance":23.381,"units":"PA","currency":"USD","asset_cat":"EP","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage Association","title":"GNR 2015-7 IO","isin":"US38378X2M27","value_usd":21341.13,"pct_val":0.0194524658,"balance":856289.45,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELM TRUST","title":"MDCP 2020-4A A2","isin":"US28924AAB70","value_usd":17901.64,"pct_val":0.0154032228,"balance":17934.5,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"United States Treasury Bills","title":"B 0 11/06/25","isin":"US912797QP55","value_usd":16994.61,"pct_val":0.0146227812,"balance":17000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Federal National Mortgage Association","title":"FNS 284 1","isin":"US31364HP501","value_usd":10279.15,"pct_val":0.0093694577,"balance":10528.37,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELM TR 2020-3","title":"MDCP 2020-3A A2","isin":"US289338AB17","value_usd":10209.63,"pct_val":0.0087847374,"balance":10224.77,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WTS. UNITI GROUP INC","title":"WTS. UNITI GROUP INC","isin":"N/A","value_usd":5940.48,"pct_val":0.0054147547,"balance":714,"units":"NC","currency":"USD","asset_cat":"DE","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"N/A"},{"issuer_name":"Government National Mortgage Association","title":"GNR 2012-150 IO","isin":"US38378B2X61","value_usd":4148.38,"pct_val":0.0037812534,"balance":465665.38,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Government National Mortgage Association","title":"GNR 2015-108 IO","isin":"US38379KYD44","value_usd":113.68,"pct_val":0.0001036195,"balance":36101.7,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"USGA","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"J.C. Penney Corporation","title":"J.C. Penney Corporation TLb 425 2023-06-23","isin":"US46611NAJ28","value_usd":22.55,"pct_val":0.0000205544,"balance":225538.13,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"3","payoff_profile":"Long"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1699360&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/morningstar-defensive-bond-fund.json","page":"https://dealcharts.org/capitalmarkets/funds/morningstar-defensive-bond-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: Morningstar Defensive Bond Fund | LEI: 254900JILOAKN6ZD6Q96 | 233 positions totaling $121,556,383 across EP, LON, EC, DE, STIV, DBT, ABS-O, ABS-CBDO, ABS-MBS | Filing: Wed Mar 25 2026 20:00:00 GMT-0400 (Eastern Daylight Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-03-26"}
