| Security | $Holding | Balance | % of Fund | Category | Position | Country |
|---|---|---|---|---|---|---|
| Prime ST - HQ @ First | 145.16 mm | 1.00 other units | 11.70 | Real estate | Long | USA |
| Residential - National Portfolio 1b | 87.99 mm | 1.00 other units | 7.09 | Real estate | Long | USA |
| Residential Presidential City | 82.63 mm | 1.00 other units | 6.66 | Real estate | Long | USA |
| Prime ST - 300 Pine | 71.36 mm | 1.00 other units | 5.75 | Real estate | Long | USA |
| Medical Office - Southeastern Portfolio I | 68.75 mm | 1.00 other units | 5.54 | Real estate | Long | USA |
| Chicago NEMA (Fixed 7) 8/26/2026 | 65.44 mm | 65.00 mm principal | 5.27 | Debt | Long | USA |
| Industrial - AIP-PMR 3-Pack | 65.40 mm | 1.00 other units | 5.27 | Real estate | Long | USA |
| Residential - 80 Dekalb | 60.14 mm | 1.00 other units | 4.85 | Real estate | Long | USA |
| BX Trust 2022-GPA | 55.65 mm | 55.65 mm principal | 4.48 | ABS-mortgage backed security | Long | USA |
| Industrial - Veterans Point | 49.23 mm | 1.00 other units | 3.97 | Real estate | Long | USA |
| Industrial - Rickenbacker Logistics Park | 46.23 mm | 1.00 other units | 3.73 | Real estate | Long | USA |
| Industrial - MB Parts Korea DC | 42.39 mm | 1.00 other units | 3.42 | Real estate | Long | Korea, Republic of |
| Residential - Main Line 4-Pack | 40.95 mm | 1.00 other units | 3.30 | Real estate | Long | USA |
| Residential - Tokyo Multifamily Portfolio I | 37.95 mm | 1.00 other units | 3.06 | Real estate | Long | Japan |
| Industrial - Charleston | 33.32 mm | 1.00 other units | 2.68 | Real estate | Long | USA |
|
UBS Select Government Institutional Fund
|
33.15 mm | 33.15 mm shares | 2.67 | Common equity | Long | USA |
| Residential - The Beach House Apartments | 32.74 mm | 1.00 other units | 2.64 | Real estate | Long | USA |
| Industrial - Lambert Farms | 31.03 mm | 1.00 other units | 2.50 | Real estate | Long | USA |
| J.P. Morgan Chase Commercial Mortgage Securities Trust 2022-ACB | 30.52 mm | 30.57 mm principal | 2.46 | ABS-mortgage backed security | Long | USA |
| BX Trust 2022-GPA | 27.99 mm | 27.97 mm principal | 2.25 | ABS-mortgage backed security | Long | USA |
| BX Commercial Mortgage Trust 2021-XL2 | 25.88 mm | 26.25 mm principal | 2.09 | ABS-mortgage backed security | Long | USA |
| Prime ST - El Camino Real | 24.48 mm | 1.00 other units | 1.97 | Real estate | Long | USA |
| LBA Trust 2024-7IND | 18.02 mm | 18.00 mm principal | 1.45 | ABS-mortgage backed security | Long | USA |
| Industrial - S. 500 Whitestown | 17.19 mm | 1.00 other units | 1.39 | Real estate | Long | USA |
| OPG Trust 2021-PORT | 14.00 mm | 14.30 mm principal | 1.13 | ABS-mortgage backed security | Long | USA |
| Industrial - Lakemont Blvd | 9.59 mm | 1.00 other units | 0.77 | Real estate | Long | USA |
| FS Trust 2024-HULA | 9.48 mm | 9.40 mm principal | 0.76 | ABS-mortgage backed security | Long | USA |
| Residential - National Portfolio 1a | 9.05 mm | 1.00 other units | 0.73 | Real estate | Long | USA |
| LAQ 2023-LAQ Mortgage Trust | 7.44 mm | 7.50 mm principal | 0.60 | ABS-mortgage backed security | Long | USA |
| LAQ 2023-LAQ Mortgage Trust | 7.25 mm | 7.31 mm principal | 0.58 | ABS-mortgage backed security | Long | USA |
| LBA Trust 2024-7IND | 6.16 mm | 6.14 mm principal | 0.50 | ABS-mortgage backed security | Long | USA |
| BXSC Commercial Mortgage Trust 2022-WSS | 4.42 mm | 4.50 mm principal | 0.36 | ABS-mortgage backed security | Long | USA |
| BX Commercial Mortgage Trust 2022-LP2 | 3.78 mm | 3.80 mm principal | 0.30 | ABS-mortgage backed security | Long | USA |
|
JPY/USD FORWARD
MACQUARIE CAPITAL (USA) INC.
|
3.56 mm | 1.00 contracts | 0.29 | DFE | N/A | USA |
|
USD/KRW FORWARD
STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC
|
2.21 mm | 1.00 contracts | 0.18 | DFE | N/A | USA |
| BX Commercial Mortgage Trust 2022-LP2 | 1.13 mm | 1.14 mm principal | 0.09 | ABS-mortgage backed security | Long | USA |
|
JPY/USD FORWARD
GOLDMAN SACHS & CO. LLC
|
126.20 k | 1.00 contracts | 0.01 | DFE | N/A | USA |
| J.P. Morgan Chase Commercial Mortgage Securities Trust 2022-ACB | 0 | 1.00 principal | 0.00 | ABS-mortgage backed security | Long | USA |
