{"entity_type":"fund","name":"Victory Pioneer Active Credit Fund","identifiers":{"lei":"HNEH6BRMRL0UD63MV889","cik":"2042316","fund_id":"S000089774","fundkey":"victory-pioneer-active-credit-fund"},"dates":{"reporting_period_start":"2025-11-28","reporting_period_end":"2026-08-31","filing_date":"2026-01-26"},"summary":{"total_positions":229,"total_value_usd":44742111,"asset_categories":["STIV","DBT","DFE","LON","ABS-MBS","ABS-O","ABS-CBDO"],"by_asset_category":{"DBT":{"positions":151,"total_value_usd":32253589.59},"ABS-MBS":{"positions":43,"total_value_usd":7520029.86},"ABS-O":{"positions":16,"total_value_usd":2546858.29},"ABS-CBDO":{"positions":15,"total_value_usd":1931120.68},"LON":{"positions":2,"total_value_usd":397479.6},"STIV":{"positions":1,"total_value_usd":103025.28},"DFE":{"positions":1,"total_value_usd":-9992.3}}},"holdings":[{"issuer_name":"TREASURY BILL","title":"United States Treasury Bill","isin":"US912797RR03","value_usd":1399847.32,"pct_val":3.076313680618,"balance":1400000,"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":"US912797RW97","value_usd":1398789.71,"pct_val":3.073989469924,"balance":1400000,"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":"US912797RX70","value_usd":1397722.37,"pct_val":3.071643876517,"balance":1400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"UST","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SUMITOMO LIFE INSUR","title":"Sumitomo Life Insurance Co","isin":"US86564CAF77","value_usd":572880.74,"pct_val":1.258966483448,"balance":564000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MEIJI YASUDA LIFE INSURA","title":"Meiji Yasuda Life Insurance Co","isin":"US585270AE15","value_usd":564159.62,"pct_val":1.239800892756,"balance":543000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DAI-ICHI LIFE INSURANCE","title":"Dai-ichi Life Insurance Co Ltd/The","isin":"US23381LAA26","value_usd":533782.32,"pct_val":1.173043538411,"balance":510000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRUIST BANK","title":"Truist Bank","isin":"US89788JAH23","value_usd":489624.49,"pct_val":1.07600200067,"balance":490000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GENERAL MOTORS FINL CO","title":"General Motors Financial Co Inc","isin":"US37045XFC56","value_usd":460452.51,"pct_val":1.011893465487,"balance":440000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"APA CORP","title":"APA Corp","isin":"US03743QAT58","value_usd":455667.77,"pct_val":1.001378489382,"balance":451000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AFRICAN DEVELOPMENT BANK","title":"African Development Bank","isin":"US008281BK24","value_usd":452000,"pct_val":0.993318173898,"balance":452000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"NUSS","inv_country":"N/A","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GRUPO NUTRESA SA","title":"Grupo Nutresa SA","isin":"US40055CAB90","value_usd":452000,"pct_val":0.993318173898,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CO","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS GROUP INC","title":"Goldman Sachs Group Inc/The","isin":"US38141GD355","value_usd":440518.62,"pct_val":0.96808661767,"balance":440000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLIANZ SE","title":"Allianz SE","isin":"US018820AE04","value_usd":414944,"pct_val":0.911883664491,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"DE","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TOTAL PLAY TELECOM","title":"Total Play Telecomunicaciones SA de CV","isin":"US89157PAD06","value_usd":414881.25,"pct_val":0.911745764678,"balance":435000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"MX","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AKER BP ASA","title":"Aker BP ASA","isin":"US00973RAQ65","value_usd":409793.04,"pct_val":0.900563880905,"balance":415000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NO","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FORD MOTOR CREDIT CO LLC","title":"Ford Motor Credit Co LLC","isin":"US345397H899","value_usd":397587.66,"pct_val":0.873741257513,"balance":400000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FORD MOTOR CREDI","title":"Ford Motor Credit Co LLC","isin":"US345397B694","value_usd":392364.28,"pct_val":0.862262323258,"balance":429000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BX Trust","title":"BX Commercial Mortgage Trust 2024-SLCT","isin":"US12433JAQ31","value_usd":388440.55,"pct_val":0.853639508394,"balance":390000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Carvana Auto Receivables Trust","title":"Carvana Auto Receivables Trust 2024-P4","isin":"US14076LAG86","value_usd":373201.54,"pct_val":0.820150159754,"balance":370000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"INTERNATIONAL PETROLEUM","title":"International Petroleum Corp","isin":"NO0013671107","value_usd":350861.72,"pct_val":0.771056024339,"balance":350000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GRUPO AEROMEXICO SAB","title":"Grupo Aeromexico SAB de CV","isin":"US40054JAD19","value_usd":344910.3,"pct_val":0.75797714459,"balance":345000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"MX","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"EUROPEAN BK RECON & DEV","title":"European Bank for Reconstruction & Development","isin":"XS2438631710","value_usd":335306.55,"pct_val":0.736871880403,"balance":3565000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"NUSS","inv_country":"N/A","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Verus Securitization Trust","title":"Verus Securitization Trust 2023-8","isin":"US92540DAE58","value_usd":335037.55,"pct_val":0.736280724233,"balance":330000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AREIT CRE Trust","title":"AREIT 2025-CRE10 Ltd","isin":"US00193DAA63","value_usd":330584.1,"pct_val":0.726493793212,"balance":330000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2024-R03","isin":"US207941AA35","value_usd":314636.98,"pct_val":0.691448297377,"balance":314604.2,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ION PLAT FIN US/SARL","title":"ION Platform Finance US Inc / ION Platform Finance SARL","isin":"US46206AAF93","value_usd":304632.04,"pct_val":0.669461375406,"balance":305000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HYUNDAI CAPITAL AMERICA","title":"Hyundai Capital America","isin":"US44891ADM62","value_usd":299064.29,"pct_val":0.657225651374,"balance":290000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HSBC HOLDINGS PLC","title":"HSBC Holdings PLC","isin":"US404280EV79","value_usd":295780.41,"pct_val":0.65000897508,"balance":285000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JEFFERIES FIN GROUP INC","title":"Jefferies Financial Group Inc","isin":"US47233WEJ45","value_usd":291339.06,"pct_val":0.640248635098,"balance":275000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GARDA WORLD SECURITY","title":"Garda World Security Corp","isin":"US36485MAQ24","value_usd":277201.8,"pct_val":0.609180499507,"balance":270000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - STACR","title":"Freddie Mac STACR REMIC Trust 2025-DNA4","isin":"US35564UBR77","value_usd":274792.16,"pct_val":0.603885058789,"balance":274966.74,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITADEL SECURITIES GLOBA","title":"Citadel Securities Global Holdings LLC","isin":"US17289RAB24","value_usd":273708.59,"pct_val":0.601503798228,"balance":260000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STANDARD CHARTERED PLC","title":"Standard Chartered PLC","isin":"US85325C2E16","value_usd":268155.5,"pct_val":0.589300291108,"balance":245000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ABRA GLOBAL FINANCE","title":"ABRA Global Finance","isin":"US000852AC70","value_usd":265118.77,"pct_val":0.58262675328,"balance":270515.56,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - SCRT","title":"Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-2","isin":"US35563PKR90","value_usd":261954.19,"pct_val":0.575672251451,"balance":268771.86,"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 - STACR","title":"Freddie Mac STACR Trust 2019-FTR3","isin":"US35565EAE23","value_usd":261396.43,"pct_val":0.574446514405,"balance":240000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KILIMANJARO II RE LTD","title":"Kilimanjaro II Re Ltd","isin":"US49407QAR92","value_usd":261175,"pct_val":0.57395989838,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FUCHSIA 2024-1 LONDON BR","title":"Fuchsia 2024-1 - London Bridge 2 PCC Ltd","isin":"US541917AA86","value_usd":260250,"pct_val":0.571927112294,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KILIMANJARO II RE LTD","title":"Kilimanjaro II Re Ltd","isin":"US49407QAQ10","value_usd":259200,"pct_val":0.569619625386,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HERBIE RE LTD","title":"Herbie Re Ltd","isin":"US42703VAJ26","value_usd":258775,"pct_val":0.568685642589,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LIGHTNING RE SERIES 2023","title":"Lightning Re Series 2023-1","isin":"US532242AA24","value_usd":258350,"pct_val":0.567751659793,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BALDWIN RE LTD","title":"Baldwin Re Ltd","isin":"US05826BAC00","value_usd":257725,"pct_val":0.566378155681,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FOUR LAKES RE LTD","title":"Four Lakes Re Ltd","isin":"US35087TAG31","value_usd":257500,"pct_val":0.565883694201,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UNITED MEXICAN STATES","title":"Mexico Government International Bond","isin":"XS2991917613","value_usd":256947.95,"pct_val":0.564670505489,"balance":217000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"NUSS","inv_country":"MX","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BONANZA RE LTD","title":"Bonanza RE Ltd","isin":"US09785EAQ44","value_usd":256725,"pct_val":0.564180549102,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BRIDGE STREET RE LTD","title":"Bridge Street Re Ltd","isin":"US10807LAA52","value_usd":254975,"pct_val":0.560334737588,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOCIETE GENERALE","title":"Societe Generale SA","isin":"US83368RCK68","value_usd":252607.09,"pct_val":0.555131002992,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"IVORY COAST","title":"Ivory Coast Government International Bond","isin":"XS2264968665","value_usd":252275.28,"pct_val":0.554401815153,"balance":228000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"NUSS","inv_country":"CI","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2022-R09","isin":"US20753DAF50","value_usd":250347.27,"pct_val":0.550164807692,"balance":230000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BLUE RIDGE RE LTD","title":"Blue Ridge Re Ltd","isin":"US096003AC27","value_usd":250000,"pct_val":0.549401644855,"balance":250000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CNO FINANCIAL GROUP INC","title":"CNO Financial Group Inc","isin":"US12621EAM57","value_usd":246897.7,"pct_val":0.542584009964,"balance":233000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SAUDI ARABIAN OIL CO","title":"Saudi Arabian Oil Co","isin":"US80414L3F04","value_usd":245204.24,"pct_val":0.538862451126,"balance":230000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"SA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NIPPON LIFE INSURANCE","title":"Nippon Life Insurance Co","isin":"US654579AP63","value_usd":244815.91,"pct_val":0.538009054563,"balance":228000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"JP","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Morgan Stanley Residential Mor","title":"Morgan Stanley Residential Mortgage Loan Trust 2023-NQM1","isin":"US61775VAF31","value_usd":239864.5,"pct_val":0.527127803369,"balance":240000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COLUMBIA PIPELINE HOLDCO","title":"Columbia Pipelines Holding Co LLC","isin":"US19828AAF49","value_usd":235509.12,"pct_val":0.517556391625,"balance":235000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PHILIP MORRIS INTL INC","title":"Philip Morris International Inc","isin":"US718172EA37","value_usd":235291.18,"pct_val":0.517077445248,"balance":239000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"1261229 BC LTD","title":"1261229 BC LTD","isin":"XAC6903HAB06","value_usd":232361.39,"pct_val":0.510638919467,"balance":234412.5,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UBS GROUP AG","title":"UBS Group AG","isin":"US902613BS60","value_usd":230299.22,"pct_val":0.506107081107,"balance":227000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SUMMIT MIDSTREAM HOLDING","title":"Summit Midstream Holdings LLC","isin":"US86614JAA34","value_usd":227015.14,"pct_val":0.498889965292,"balance":220000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BNP PARIBAS","title":"BNP Paribas SA","isin":"US09659W3A04","value_usd":226788.09,"pct_val":0.498390998718,"balance":215000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LMRE 2025-SFR1 Trust Issuing E","title":"LMRE 2025 SFR1 Trust","isin":"US50208WAD65","value_usd":226364.87,"pct_val":0.497460927662,"balance":230000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KUWAIT INTL BOND","title":"Kuwait International Government Bond","isin":"US501499AF40","value_usd":225564.69,"pct_val":0.495702446829,"balance":225000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"NUSS","inv_country":"KW","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MPLX LP","title":"MPLX LP","isin":"US55336VCC28","value_usd":222632.09,"pct_val":0.489257745774,"balance":220000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - SCRT","title":"Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-1","isin":"US35563PJQ37","value_usd":221343.26,"pct_val":0.486425404486,"balance":225620.69,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Veros Auto Receivables Trust","title":"Veros Auto Receivables Trust 2024-1","isin":"US92512WAC10","value_usd":215712.99,"pct_val":0.47405228609,"balance":210000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELEMENT FLEET MANAGEMENT","title":"Element Fleet Management Corp","isin":"US286181AP72","value_usd":215170.68,"pct_val":0.472860502066,"balance":210000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FOUNDRY JV HOLDCO LLC","title":"Foundry JV Holdco LLC","isin":"US350930AK91","value_usd":214754.01,"pct_val":0.471944825333,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2022-R05","isin":"US20754DAJ63","value_usd":214085.54,"pct_val":0.470475791263,"balance":200000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP INC","title":"Citigroup Inc","isin":"US172967PU96","value_usd":212867.5,"pct_val":0.467799018545,"balance":202000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FOUNDRY JV HOLDCO LLC","title":"Foundry JV Holdco LLC","isin":"US350930AH62","value_usd":212456.77,"pct_val":0.466896395594,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2022-R02","isin":"US20754BAJ08","value_usd":212056.72,"pct_val":0.466017243082,"balance":200000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LHOME Mortgage Trust","title":"LHOME Mortgage Trust 2024-RTL3","isin":"US50205GAA04","value_usd":211919.78,"pct_val":0.465716302837,"balance":210000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BNP PARIBAS","title":"BNP Paribas SA","isin":"US05602XQQ42","value_usd":208524.4,"pct_val":0.45825459341,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"FR","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BRAVO Residential Funding Trus","title":"BRAVO Residential Funding Trust 2025-HE1","isin":"US10568VAA26","value_usd":207799.21,"pct_val":0.456660911094,"balance":207993.31,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VOLKSWAGEN GROUP AMERICA","title":"Volkswagen Group of America Finance LLC","isin":"US928668CS92","value_usd":207778.68,"pct_val":0.456615794231,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CAIXABANK SA","title":"CaixaBank SA","isin":"US12803RAM60","value_usd":207521.85,"pct_val":0.456051382933,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"ES","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - STACR","title":"Freddie Mac STACR REMIC Trust 2021-HQA2","isin":"US35564KGS24","value_usd":206817.49,"pct_val":0.454503476763,"balance":175000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GENTING NY LLC/GENNY CAP","title":"Genting New York LLC / GENNY Capital Inc","isin":"US37255JAB89","value_usd":206772.02,"pct_val":0.454403551592,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ING GROEP NV","title":"ING Groep NV","isin":"US456837BT90","value_usd":206646,"pct_val":0.454126609211,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - STACR","title":"Freddie Mac STACR REMIC Trust 2023-HQA2","isin":"US35564K2G38","value_usd":206495.06,"pct_val":0.453794902474,"balance":200000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MACQUARIE BANK LTD","title":"Macquarie Bank Ltd","isin":"US556079AG66","value_usd":204558.4,"pct_val":0.449538885716,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"AU","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LLOYDS BANKING GROUP PLC","title":"Lloyds Banking Group PLC","isin":"US53944YBE23","value_usd":204320.31,"pct_val":0.449015657565,"balance":205000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - STACR","title":"Freddie Mac STACR REMIC Trust 2021-HQA1","isin":"US35564KCP21","value_usd":203625.8,"pct_val":0.44748939782,"balance":175000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Veros Auto Receivables Trust","title":"Veros Auto Receivables Trust 2024-1","isin":"US92512WAB37","value_usd":202096.18,"pct_val":0.444127894844,"balance":200000,"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 - STACR","title":"Freddie Mac STACR Trust 2019-FTR1","isin":"US35564PAC23","value_usd":201943.97,"pct_val":0.443793397146,"balance":170000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ONEMAIN FINANCE CORP","title":"OneMain Finance Corp","isin":"US682691AM29","value_usd":200968,"pct_val":0.441648599053,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ACREC LLC","title":"Acrec 2025 Fl 3 LLC","isin":"US00112HAA59","value_usd":199999.2,"pct_val":0.439519557799,"balance":200000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WYNN MACAU LTD","title":"Wynn Macau Ltd","isin":"US98313RAL06","value_usd":199959.05,"pct_val":0.439431323895,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AVIANCA MIDCO 2 PLC","title":"Avianca Midco 2 PLC","isin":"US05369YAA73","value_usd":198343,"pct_val":0.435879881782,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"RESORTS WORLD/RWLV CAP","title":"Resorts World Las Vegas LLC / RWLV Capital Inc","isin":"US76120HAD98","value_usd":197492.5,"pct_val":0.434010817386,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Prestige Auto Receivables Trus","title":"Prestige Auto Receivables Trust 2021-1","isin":"US74113XAG16","value_usd":192540.16,"pct_val":0.423127522419,"balance":200000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NOVELIS CORP","title":"Novelis Corp","isin":"US670001AN69","value_usd":191726.91,"pct_val":0.421340318868,"balance":190000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2024-R01","isin":"US20753UAJ97","value_usd":190360.22,"pct_val":0.418336871932,"balance":180000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"META PLATFORMS INC","title":"Meta Platforms Inc","isin":"US30303M8Y18","value_usd":189194.17,"pct_val":0.41577435278,"balance":190000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DOMINICAN REPUBLIC","title":"Dominican Republic International Bond","isin":"US25714PFF09","value_usd":189107,"pct_val":0.415582787414,"balance":190000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"NUSS","inv_country":"DO","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS INTERNATIO","title":"Goldman Sachs International","isin":"XS2449823793","value_usd":188351.5,"pct_val":0.413922495644,"balance":1700,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MIZUHO MARKETS CAYMAN","title":"Mizuho Markets Cayman LP","isin":"XS3180538046","value_usd":186823.2,"pct_val":0.410563893508,"balance":4800,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP MORGAN STRUCTURED PRO","title":"JP Morgan Structured Products BV","isin":"XS3022682408","value_usd":183724.63,"pct_val":0.403754455689,"balance":300,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRKCM Trust","title":"PRKCM 2023-AFC4 Trust","isin":"US69380GAD16","value_usd":182693.29,"pct_val":0.40148797612,"balance":180000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MFRA Trust","title":"MFRA 2024-NQM3 Trust","isin":"US55287GAE26","value_usd":182625.61,"pct_val":0.401339242107,"balance":180000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BRAVO Residential Funding Trus","title":"BRAVO Residential Funding Trust 2024-NQM5","isin":"US105925AF85","value_usd":181857.15,"pct_val":0.399650469354,"balance":180000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MORGAN STANLEY","title":"Morgan Stanley","isin":"US61748UAN28","value_usd":180583.25,"pct_val":0.396850938333,"balance":180000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BORR IHC LTD / BORR FIN","title":"Borr IHC Ltd / Borr Finance LLC","isin":"US100018AB62","value_usd":178534.18,"pct_val":0.392347888619,"balance":180582.52,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"N/A","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HSBC BANK PLC","title":"HSBC Bank PLC","isin":"XS3112542439","value_usd":178530,"pct_val":0.392338702624,"balance":13200,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"GB","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"KOSMOS ENERGY LTD","title":"Kosmos Energy Ltd","isin":"US500688AF35","value_usd":177000,"pct_val":0.388976364557,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FIGRE Trust","title":"FIGRE Trust 2025-HE6","isin":"US31684NAA54","value_usd":176762.53,"pct_val":0.388454498923,"balance":177200.18,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ENERGY TRANSFER LP","title":"Energy Transfer LP","isin":"US29273VAM28","value_usd":176658.45,"pct_val":0.38822577203,"balance":172000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WILDFIRE INTERMEDIATE HO","title":"Wildfire Intermediate Holdings LLC","isin":"US96812HAA68","value_usd":174636.93,"pct_val":0.383783266378,"balance":173000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LOTTOMATICA GROUP SPA","title":"Lottomatica Group Spa","isin":"XS3047452746","value_usd":173115.5,"pct_val":0.380439761799,"balance":145000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"IT","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CELANESE US HOLDINGS LLC","title":"Celanese US Holdings LLC","isin":"US15089QAY08","value_usd":172318.08,"pct_val":0.378687346361,"balance":165000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LHOME Mortgage Trust","title":"LHOME Mortgage Trust 2024-RTL1","isin":"US50205DAA72","value_usd":170815.34,"pct_val":0.37538491505,"balance":170000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BX Trust","title":"BX Trust 2021-ARIA","isin":"US05608RAQ83","value_usd":169805.15,"pct_val":0.373164914859,"balance":170000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MF1 Multifamily Housing Mortga","title":"MF1 2024-FL15","isin":"US58003MAA45","value_usd":168867.58,"pct_val":0.371104504859,"balance":168386,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HILCORP ENERGY I/HILCORP","title":"Hilcorp Energy I LP / Hilcorp Finance Co","isin":"US431318AZ78","value_usd":168452.89,"pct_val":0.370193179386,"balance":179000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - STACR","title":"Freddie Mac STACR REMIC Trust 2021-DNA5","isin":"US35564KJB61","value_usd":167619.79,"pct_val":0.368362353345,"balance":140000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALLY FINANCIAL INC","title":"Ally Financial Inc","isin":"US02005NBV10","value_usd":165774.95,"pct_val":0.364308120823,"balance":160000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WINDSTREAM SERVICES LLC","title":"WINDSTREAM SERVICES LLC","isin":"US97381JAK97","value_usd":165118.21,"pct_val":0.362864864678,"balance":166000,"units":"PA","currency":"USD","asset_cat":"LON","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GLOBAL AIR LEASE CO LTD","title":"Global Aircraft Leasing Co Ltd","isin":"US37960JAC27","value_usd":163408.97,"pct_val":0.359108627608,"balance":158000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LEVEL 3 FINANCING INC","title":"Level 3 Financing Inc","isin":"US527298CM39","value_usd":162941.92,"pct_val":0.358082235455,"balance":160000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Verus Securitization Trust","title":"Verus Securitization Trust 2024-3","isin":"US92540MAD74","value_usd":162286.59,"pct_val":0.356642077936,"balance":160000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Research-Driven Pagaya Motor A","title":"Research-Driven Pagaya Motor Asset Trust 2025-3","isin":"US76090QAB95","value_usd":161091.98,"pct_val":0.35401679514,"balance":160000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JANE STREET GRP/JSG FIN","title":"Jane Street Group / JSG Finance Inc","isin":"US47077WAE84","value_usd":161065.37,"pct_val":0.353958316829,"balance":154000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BNP PARIBAS ISSUANCE BV","title":"BNP Paribas Issuance BV","isin":"XS3050006553","value_usd":160470,"pct_val":0.352649927799,"balance":1500,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Arbor Realty Collateralized Lo","title":"Arbor Realty Collateralized Loan Obligation Ltd","isin":"US03881UAJ07","value_usd":159954.35,"pct_val":0.351516731967,"balance":160000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TORONTO-DOMINION BANK","title":"Toronto-Dominion Bank/The","isin":"XS2637948006","value_usd":156714.5,"pct_val":0.34439681629,"balance":1700,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"US ACUTE CARE SOLUTIONS","title":"US Acute Care Solutions LLC","isin":"US90367UAD37","value_usd":156445.21,"pct_val":0.343805022815,"balance":154000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALBERTSONS COS/SAFEWAY","title":"Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC","isin":"US01309QAD07","value_usd":156249.92,"pct_val":0.343375852226,"balance":155000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BALL CORP","title":"Ball Corp","isin":"XS3070629335","value_usd":154824.35,"pct_val":0.340243010214,"balance":130000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AVOLON HOLDINGS FNDG LTD","title":"Avolon Holdings Funding Ltd","isin":"US05401AAX90","value_usd":154728.36,"pct_val":0.340032061959,"balance":152000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2020-R01","isin":"US20754CAF68","value_usd":153000,"pct_val":0.336233806651,"balance":150000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DANAOS CORP","title":"Danaos Corp","isin":"US23585WAC82","value_usd":152665.95,"pct_val":0.335499696173,"balance":150000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"MH","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BELLEMEADE RE LT","title":"Bellemeade Re 2025-1 Ltd","isin":"US07876NAB10","value_usd":150504.93,"pct_val":0.330750624403,"balance":150000,"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 BANK NA","title":"Wells Fargo Bank NA","isin":"US95003X8728","value_usd":149293,"pct_val":0.328087279061,"balance":2300,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"JP MORGAN STRUCTURED PRO","title":"JP Morgan Structured Products BV","isin":"XS2599095622","value_usd":147495,"pct_val":0.324135982431,"balance":1500,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VENTURE GLOBAL PLAQUE","title":"Venture Global Plaquemines LNG LLC","isin":"US922966AD85","value_usd":146739.94,"pct_val":0.322476657608,"balance":140000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MERRILL LYNCH BV","title":"Merrill Lynch BV","isin":"XS2887845746","value_usd":143370,"pct_val":0.315070855291,"balance":1800,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COLT Funding LLC","title":"COLT 2024-5 Mortgage Loan Trust","isin":"US19685AAE91","value_usd":141645.35,"pct_val":0.311280753104,"balance":140000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CSC HOLDINGS LLC","title":"CSC Holdings LLC","isin":"US126307BN62","value_usd":140983.22,"pct_val":0.30982565186,"balance":200000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COREWEAVE INC","title":"CoreWeave Inc","isin":"US21873SAC26","value_usd":140258.59,"pct_val":0.308233200204,"balance":155000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Freddie Mac - STACR","title":"Freddie Mac STACR REMIC Trust 2025-DNA4","isin":"US35564UBQ94","value_usd":134749.26,"pct_val":0.296125860348,"balance":134750,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BLACKSTONE REG FINANCE","title":"Blackstone Reg Finance Co LLC","isin":"US092914AC40","value_usd":134539.66,"pct_val":0.295665242009,"balance":135000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN ELECTRIC POWER","title":"American Electric Power Co Inc","isin":"US02557TAE91","value_usd":134062.79,"pct_val":0.294617269359,"balance":135000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"A&D Mortgage Trust","title":"A&D Mortgage Trust 2024-NQM3","isin":"US00039HAD98","value_usd":131617.63,"pct_val":0.289243769655,"balance":129562,"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 - STACR","title":"Freddie Mac Stacr Remic Trust 2025-Hqa1","isin":"US35564NGY31","value_usd":131378.4,"pct_val":0.288718036233,"balance":131250,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"RCKT Trust","title":"RCKTL 2025-2","isin":"US74939HAD52","value_usd":130048.52,"pct_val":0.285795483196,"balance":130000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LoanCore Issuer, Ltd.","title":"LoanCore 2025-CRE9 Issuer LLC","isin":"US538912AA46","value_usd":130040.66,"pct_val":0.285778210008,"balance":130000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FREEDOM MORTGAGE HOLD","title":"Freedom Mortgage Holdings LLC","isin":"US35641AAB44","value_usd":128401.32,"pct_val":0.282175585638,"balance":120000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Velocity Commercial Capital Lo","title":"Velocity Commercial Capital Loan Trust 2025-1","isin":"US922955AA73","value_usd":126541.62,"pct_val":0.278088696682,"balance":125065.41,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WOODSIDE FINANCE LTD","title":"Woodside Finance Ltd","isin":"US980236AV51","value_usd":125956.73,"pct_val":0.27680333857,"balance":120000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"AU","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Arbor Realty Collateralized Lo","title":"Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd","isin":"US03880RAA77","value_usd":124280.54,"pct_val":0.273119732398,"balance":124279.67,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DARLING GLOBAL FINANCE","title":"Darling Global Finance BV","isin":"XS3101876236","value_usd":123769,"pct_val":0.271995568728,"balance":105000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PRP Advisors, LLC","title":"PRPM 2025-NQM1 Trust","isin":"US74391EAF88","value_usd":122219.47,"pct_val":0.268590311405,"balance":120000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CZECHOSLOVAK GROUP","title":"Czechoslovak Group AS","isin":"XS3105190816","value_usd":120466.13,"pct_val":0.264737159885,"balance":100000,"units":"PA","currency":null,"asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CZ","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AUTONATION INC","title":"AutoNation Inc","isin":"US05329WAT99","value_usd":119966.56,"pct_val":0.263639301566,"balance":115000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FS Rialto Issuer Ltd","title":"FS Rialto 2025-FL10 Issuer LLC","isin":"US30340KAA97","value_usd":119963.12,"pct_val":0.2636317418,"balance":120000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"DELEK LOG PART/FINANCE","title":"Delek Logistics Partners LP / Delek Logistics Finance Corp","isin":"US24665FAD42","value_usd":115297.16,"pct_val":0.253377797404,"balance":110000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"META PLATFORMS INC","title":"Meta Platforms Inc","isin":"US30303MAE21","value_usd":114708.66,"pct_val":0.252084505932,"balance":115000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Velocity Commercial Capital Lo","title":"Velocity Commercial Capital Loan Trust 2024-6","isin":"US92261BAA44","value_usd":110152.77,"pct_val":0.242072452093,"balance":109336.18,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BSPRT Issuer, Ltd.","title":"BSPRT 2022-FL8 Issuer Ltd","isin":"US055983AG56","value_usd":109999.44,"pct_val":0.241735493076,"balance":110000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Angel Oak Mortgage Trust","title":"Angel Oak Mortgage Trust 2025-HB2","isin":"US034648AA39","value_usd":109977.49,"pct_val":0.241687255612,"balance":110000,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Imperial Fund LLC","title":"Imperial Fund Mortgage Trust 2022-NQM5","isin":"US45276QAE44","value_usd":109626.39,"pct_val":0.240915675942,"balance":110000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Bankers Healthcare Group Secur","title":"BHG Securitization Trust 2022-C","isin":"US08860DAE31","value_usd":108150.18,"pct_val":0.237671547133,"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":"CITIGROUP INC","title":"Citigroup Inc","isin":"US17327CBC64","value_usd":107471.28,"pct_val":0.236179592026,"balance":105000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STARWOOD PROPERTY TRUST","title":"Starwood Property Trust Inc","isin":"US85571BBG95","value_usd":106716.46,"pct_val":0.234520794628,"balance":105000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"RGA GLOBAL FUNDING","title":"RGA Global Funding","isin":"US76209PAJ21","value_usd":105711.56,"pct_val":0.232312419776,"balance":105000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"First Help Financial LLC","title":"FHF Issuer Trust 2024-3","isin":"US30339EAE86","value_usd":103951.07,"pct_val":0.228443555369,"balance":110000,"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 - CAS","title":"Connecticut Avenue Securities Series 2025-R01","isin":"US20755JAB98","value_usd":103824.16,"pct_val":0.228164657118,"balance":103759.09,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Dreyfus Government Cash Management","title":"Dreyfus Government Cash Management","isin":"US2620062081","value_usd":103025.28,"pct_val":0.226409033174,"balance":103025.28,"units":"NS","currency":"USD","asset_cat":"STIV","issuer_cat":"RF","inv_country":"US","fair_val_level":"1","payoff_profile":"Long"},{"issuer_name":"BWAY Mortgage Trust","title":"BWAY 2013-1515 Mortgage Trust","isin":"US05604FAJ49","value_usd":102928.16,"pct_val":0.226195601623,"balance":110000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VRTX Trust","title":"VRTX Trust 2025-HQ","isin":"US91835XAC11","value_usd":102185.58,"pct_val":0.22456370293,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Vista Point Securitization Tru","title":"Vista Point Securitization Trust 2024-CES3","isin":"US92841WAB54","value_usd":101274.33,"pct_val":0.222561133934,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MERRILL LYNCH BV","title":"Merrill Lynch BV","isin":"XS2887845829","value_usd":100950,"pct_val":0.221848384192,"balance":500,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"NL","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MF1 Multifamily Housing Mortga","title":"MF1 2021-FL7 Ltd","isin":"US55284AAC27","value_usd":100858.2,"pct_val":0.221646643908,"balance":101000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"UNITI GROUP/CSL CAPITAL","title":"Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC","isin":"US91327TAC53","value_usd":100682.11,"pct_val":0.221259667366,"balance":105000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"American Credit Acceptance Rec","title":"American Credit Acceptance Receivables Trust 2025-4","isin":"US024948AG64","value_usd":100441.67,"pct_val":0.22073127484,"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":"Tricon Residential","title":"Tricon Residential 2025-SFR1 Trust","isin":"US895974AD59","value_usd":100306.67,"pct_val":0.220434597951,"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":"BDS Ltd","title":"BDS 2025-FL14 LLC","isin":"US072921AA78","value_usd":100124.6,"pct_val":0.220034479722,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GENERAL MOTORS FINL CO","title":"General Motors Financial Co Inc","isin":"US37045XFL55","value_usd":100060.18,"pct_val":0.219892909906,"balance":100000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LoanCore Issuer, Ltd.","title":"LoanCore 2025 2025-CRE8 Issuer LLC","isin":"US53947FAA93","value_usd":100013.7,"pct_val":0.219790765152,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MF1 Multifamily Housing Mortga","title":"MF1 2021-FL6 Ltd","isin":"US55283TAE82","value_usd":99826,"pct_val":0.219378274397,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SMRT","title":"SMRT 2022-MINI","isin":"US78457JAN28","value_usd":99315.62,"pct_val":0.218256659951,"balance":100000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSOCEAN INTERNTNL LTD","title":"Transocean International Ltd","isin":"US893830AT68","value_usd":98514.68,"pct_val":0.216496508937,"balance":110000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"NORTHERN TRUST CORP","title":"Northern Trust Corp","isin":"US665859AZ76","value_usd":95510.35,"pct_val":0.209894173562,"balance":95000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"STATE STREET CORP","title":"State Street Corp","isin":"US857477DE08","value_usd":95318.18,"pct_val":0.209471859506,"balance":95000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2025-R06","isin":"US20754YAB74","value_usd":94252.73,"pct_val":0.207130419576,"balance":94365.59,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FREEDOM MORTGAGE HOLD","title":"Freedom Mortgage Holdings LLC","isin":"US35641AAA60","value_usd":93305.36,"pct_val":0.205048473031,"balance":89000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TALEN ENERGY SUPPLY LLC","title":"Talen Energy Supply LLC","isin":"US87422VAN82","value_usd":93049.68,"pct_val":0.204486588981,"balance":90000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TALEN ENERGY SUPPLY LLC","title":"Talen Energy Supply LLC","isin":"US87422VAM00","value_usd":91703.16,"pct_val":0.201527467769,"balance":90000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MATIV HOLDINGS INC","title":"Mativ Holdings Inc","isin":"US808541AC08","value_usd":90160.74,"pct_val":0.198137835429,"balance":90000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSOCEAN INTERNTNL LTD","title":"Transocean International Ltd","isin":"US893830BX61","value_usd":89924.77,"pct_val":0.197619266205,"balance":86250,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HILCORP ENERGY I/HILCORP","title":"Hilcorp Energy I LP / Hilcorp Finance Co","isin":"US431318AY04","value_usd":87045.29,"pct_val":0.191291302011,"balance":90000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Fannie Mae - CAS","title":"Connecticut Avenue Securities Trust 2025-R06","isin":"US20754YAA91","value_usd":86986.68,"pct_val":0.19116250029,"balance":86983.25,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Bankers Healthcare Group Secur","title":"BHG Securitization Trust 2023-B","isin":"US08862GAB05","value_usd":86907.9,"pct_val":0.190989372843,"balance":82892.48,"units":"PA","currency":"USD","asset_cat":"ABS-O","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CITIGROUP GLOBAL MARKETS","title":"Citigroup Global Markets Holdings Inc/United States","isin":"XS3077248394","value_usd":85680,"pct_val":0.188290931724,"balance":5100,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VISTRA OPERATIONS CO LLC","title":"Vistra Operations Co LLC","isin":"US92840VAV45","value_usd":84819.02,"pct_val":0.186398836412,"balance":85000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ELEMENT FLEET MANAGEMENT","title":"Element Fleet Management Corp","isin":"US286181AR39","value_usd":80414.12,"pct_val":0.17671859919,"balance":80000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FLEX LTD","title":"Flex Ltd","isin":"US33938XAG07","value_usd":80381.43,"pct_val":0.176646759431,"balance":80000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"SG","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"VENTURE GLOBAL PLAQUE","title":"Venture Global Plaquemines LNG LLC","isin":"US922966AC03","value_usd":77572.73,"pct_val":0.170474341831,"balance":75000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOAT HOLDCO LLC","title":"Goat Holdco LLC","isin":"US38021MAA45","value_usd":76920,"pct_val":0.169039898089,"balance":75000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSOCEAN INTERNTNL LTD","title":"Transocean International Ltd","isin":"US893830BY45","value_usd":71205.19,"pct_val":0.156480994033,"balance":70000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ACREC 2021-FL1 Ltd.","title":"ACREC 2021-FL1 Ltd","isin":"US00500RAA32","value_usd":71000.63,"pct_val":0.156031451631,"balance":71000.42,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSOCEAN INTERNTNL LTD","title":"Transocean International Ltd","isin":"US893830BZ10","value_usd":70569.03,"pct_val":0.155082964631,"balance":70000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"BM","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HYUNDAI CAPITAL AMERICA","title":"Hyundai Capital America","isin":"US44891AEA16","value_usd":70096.31,"pct_val":0.154044112049,"balance":70000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TORONTO-DOMINION BANK","title":"Toronto-Dominion Bank/The","isin":"XS2990363165","value_usd":66763.5,"pct_val":0.146719906865,"balance":4700,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SPIRE INC","title":"Spire Inc","isin":"US84857LAE11","value_usd":65044.87,"pct_val":0.142943034269,"balance":65000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COMMERCIAL METALS CO","title":"Commercial Metals Co","isin":"US201723AS24","value_usd":61357.73,"pct_val":0.134840151146,"balance":60000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COMMERCIAL METALS CO","title":"Commercial Metals Co","isin":"US201723AV52","value_usd":61120.39,"pct_val":0.1343185712,"balance":60000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ALBERTSONS COS/SAFEWAY","title":"Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC","isin":"US01309QAC24","value_usd":60819.96,"pct_val":0.133658344256,"balance":60000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TPG Real Estate Finance","title":"TRTX 2022-FL5 Issuer Ltd","isin":"US87277JAA97","value_usd":59225.4,"pct_val":0.130154128708,"balance":59225.7,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"SOUTH BOW CAN INFRA HOLD","title":"South Bow Canadian Infrastructure Holdings Ltd","isin":"US836720AJ13","value_usd":58333.99,"pct_val":0.128195160227,"balance":55000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"CA","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"PENNYMAC FIN SVCS INC","title":"PennyMac Financial Services Inc","isin":"US70932MAH07","value_usd":56673.54,"pct_val":0.124546144383,"balance":55000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MF1 Multifamily Housing Mortga","title":"MF1 2021-FL7 Ltd","isin":"US55284AAA60","value_usd":56383.16,"pct_val":0.123908003384,"balance":56403.35,"units":"PA","currency":"USD","asset_cat":"ABS-CBDO","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"AMERICAN ELECTRIC POWER","title":"American Electric Power Co Inc","isin":"US02557TAF66","value_usd":54990.18,"pct_val":0.120846781371,"balance":55000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Multifamily Structured Credit","title":"Freddie Mac Mscr Trust Mn1","isin":"US35563FAC59","value_usd":54943.89,"pct_val":0.120745054163,"balance":50000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"USGSE","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"Ascent Career Funding Trust","title":"Ascent Career Funding Trust 2024-1","isin":"US04363LAA44","value_usd":51505.33,"pct_val":0.113188452083,"balance":51170.99,"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 - STACR","title":"Freddie Mac Stacr Remic Trust 2025-Hqa1","isin":"US35564NHA46","value_usd":50062.5,"pct_val":0.110017679382,"balance":50000,"units":"PA","currency":"USD","asset_cat":"ABS-MBS","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"ORACLE CORP","title":"Oracle Corp","isin":"US68389XDR35","value_usd":47788.84,"pct_val":0.105021069206,"balance":51000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BAXTER INTERNATIONAL INC","title":"Baxter International Inc","isin":"US071813DE66","value_usd":45858.69,"pct_val":0.100779358867,"balance":45000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"BAXTER INTERNATIONAL INC","title":"Baxter International Inc","isin":"US071813DD83","value_usd":45261.18,"pct_val":0.09946626696,"balance":45000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HILCORP ENERGY I/HILCORP","title":"Hilcorp Energy I LP / Hilcorp Finance Co","isin":"US431318BG88","value_usd":42806.82,"pct_val":0.094072549276,"balance":45000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"WEC ENERGY GROUP INC","title":"WEC Energy Group Inc","isin":"US92939UAU07","value_usd":35523.06,"pct_val":0.078065710377,"balance":35000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"CBRE SERVICES INC","title":"CBRE Services Inc","isin":"US12505BAL45","value_usd":35440.41,"pct_val":0.077884078193,"balance":35000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"HIGHWOODS REALTY LP","title":"Highwoods Realty LP","isin":"US431282AV41","value_usd":35144.06,"pct_val":0.077232817483,"balance":35000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"LINCOLN NATIONAL CORP","title":"Lincoln National Corp","isin":"US534187BZ19","value_usd":35116.67,"pct_val":0.077172625039,"balance":35000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"COPT DEFENSE PROP LP","title":"COPT Defense Properties LP","isin":"US12713UAA43","value_usd":34857.98,"pct_val":0.076604126193,"balance":35000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"TRANSOCEAN TITAN FIN LTD","title":"Transocean Titan Financing Ltd","isin":"US89386MAA62","value_usd":33271.42,"pct_val":0.073117491498,"balance":32380.95,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"KY","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"MATTEL INC","title":"Mattel Inc","isin":"US577081BG67","value_usd":30269.37,"pct_val":0.066520166666,"balance":30000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"FREEDOM MORTGAGE HOLD","title":"Freedom Mortgage Holdings LLC","isin":"US35641AAC27","value_usd":26260.75,"pct_val":0.05771079698,"balance":25000,"units":"PA","currency":"USD","asset_cat":"DBT","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"Long"},{"issuer_name":"GOLDMAN SACHS & CO. LLC","title":"USD/KRW FORWARD","isin":null,"value_usd":-9992.3,"pct_val":-0.02195914422,"balance":1,"units":"NC","currency":"USD","asset_cat":"DFE","issuer_cat":"CORP","inv_country":"US","fair_val_level":"2","payoff_profile":"N/A"}],"source_documents":[{"label":"SEC NPORT-P Filings","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2042316&type=NPORT&dateb=&owner=exclude&count=40"}],"dataset":{"json":"https://dealcharts.org/llm/facts/fund/victory-pioneer-active-credit-fund.json","page":"https://dealcharts.org/capitalmarkets/funds/victory-pioneer-active-credit-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: Victory Pioneer Active Credit Fund | LEI: HNEH6BRMRL0UD63MV889 | 229 positions totaling $44,742,111 across STIV, DBT, DFE, LON, ABS-MBS, ABS-O, ABS-CBDO | Filing: Sun Jan 25 2026 19:00:00 GMT-0500 (Eastern Standard Time) | Source: SEC NPORT-P via Dealcharts.org","updated_at":"2026-01-26"}