| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BOSTON PRPTY 4.500 12/01/28 '2810112RBA1 | 114,451 | 119,555 |
| ENERGY TRANSFER 4.050 03/15/25 '2429273RBD0 | 82,874 | 81,596 |
| NEWELL BRANDS 4.450 04/01/26 '26651229AW6 | 78,107 | 81,769 |
| FANNIE MAE FNCL FM4735 3.000 04/01/473140X8HM2 | 60,405 | 57,312 |
| MGM RESORTS INTL 5.750 06/15/25 '25552953CE9 | 91,704 | 91,481 |
| FANNIE MAE FNCI FM3375 3.500 02/01/353140X6XD8 | 58,138 | 55,584 |
| DCP MID OPEG 5.375 07/15/25 '2523311VAG2 | 81,643 | 84,122 |
| BANK NOVA 3.500 09/15/26 FRN0641598M1 | 84,370 | 84,000 |
| VERIZON 3.550 03/22/51 '5092343VGB4 | 83,317 | 84,313 |
| FANNIE MAE FNCL FM5137 5.000 05/01/503140X8V79 | 59,933 | 56,847 |
| FANNIE MAE FNCI CA5465 3.000 03/01/353140QDCB8 | 245,349 | 237,888 |
| DISCOVERY COM 3.950 03/20/28 '2725470DAR0 | 81,915 | 81,569 |
| HOWMET 5.900 02/01/27013817AJ0 | 3,478 | 3,428 |
| PULTEGROUP 5.500 03/01/26 '25745867AW1 | 11,063 | 12,507 |
| FANNIE MAE FNCL CA4182 4.500 09/01/493140QBUG1 | 298,051 | 269,017 |
| TRAVEL + LEISURE 5.650 04/01/24 '2498310WAP3 | 77,276 | 80,750 |
| US TREASURY 6.750 08/15/26912810EX2 | 409,097 | 400,284 |
| ANHEUSER-BUSCH 3.650 02/01/26 '2503522AAG5 | 75,062 | 80,562 |
| HCA 5.375 02/01/25404119BR9 | 78,731 | 81,326 |
| FANNIE MAE FNCL FM3152 4.000 02/01/453140X6QE4 | 82,013 | 81,134 |
| CHARTER COMMN 4.908 07/23/25 '25161175AY0 | 79,633 | 80,337 |
| US TREASURY 2.875 05/15/289128284N7 | 166,191 | 160,281 |
| CENTENE 3.000 10/15/30 '3015135BAW1 | 87,121 | 87,420 |
| FISERV 4.200 10/01/28 '28337738AR9 | 80,652 | 80,778 |
| FREDDIE MAC FNCL QB3677 2.000 09/01/503133AACN0 | 58,320 | 55,902 |
| US TREASURY 4.500 02/15/36912810FT0 | 84,155 | 85,371 |
| TD 3.128 03/04/24 FRN MTN89114QCR7 | 83,087 | 83,046 |
| ELANCO ANIMAL 6.400 08/28/28 '2828414HAG8 | 76,975 | 81,200 |
| FREDDIE MAC FNCL SD7514 3.500 04/01/503132DVK38 | 44,118 | 41,913 |
| AT&T 4.416 06/12/24 FRN00206RGD8 | 167,305 | 166,078 |
| FANNIE MAE FNCL FM1104 3.500 05/01/493140X4GN0 | 39,603 | 37,309 |
| FANNIE MAE FNCL FM1420 3.500 12/01/473140X4SJ6 | 251,532 | 231,744 |
| US TREASURY 2.250 05/15/41912810SY5 | 254,591 | 256,022 |
| CROWN CASTLE 4.300 02/15/29 '2822822VAL5 | 83,008 | 83,789 |
| BOEING 5.150 05/01/30 '30097023CY9 | 82,917 | 81,633 |
| AECOM 5.125 03/15/27 '2600774CAB3 | 77,943 | 81,701 |
| FREDDIE MAC FNCL RA3586 4.000 09/01/503133KJ6X5 | 43,322 | 39,082 |
| US TREASURY 5.000 05/15/37912810PU6 | 84,785 | 84,598 |
| FREDDIE MAC FNCL RA1193 4.000 08/01/493133KGKE7 | 216,786 | 194,669 |
| NORDSTROM 4.375 04/01/30 '30655664AT7 | 82,879 | 81,712 |
| CVS HEALTH 5.125 07/20/45 '45126650CN8 | 102,776 | 105,608 |
| US TREASURY 3.125 05/15/48912810SC3 | 83,335 | 85,319 |
| FANNIE MAE FNCL BK7618 5.000 09/01/483140HMPC2 | 90,579 | 85,790 |
| FIRST CITIZN BNK 6.125 03/09/28125581GX0 | 85,493 | 96,600 |
| JP MORGAN 3.157 04/22/42 '41 FRN46647PCD6 | 82,650 | 84,797 |
| FORD MOTOR 6.625 10/01/28345370BY5 | 80,575 | 84,175 |
| BOFAML 4.330 03/15/50 '49 MTN06051GHS1 | 82,687 | 84,420 |
| NAVIENT 6.125 03/25/24 MTN78442FET1 | 82,984 | 84,234 |
| FANNIE MAE FNCL FM3247 4.500 10/01/453140X6TD3 | 111,078 | 110,646 |
| UNTD RENTL NR AM 5.500 05/15/27 '22911365BF0 | 79,041 | 81,120 |
| FREDDIE MAC FNCL ZT0032 3.000 05/01/473132ACA91 | 99,407 | 94,259 |
| DIAMONDBACK 3.250 12/01/26 '2625278XAM1 | 78,807 | 82,309 |
| ALLY FINANCIAL 8.000 11/01/3136186CBY8 | 83,865 | 102,025 |
| FANNIE MAE FNCL FM5893 5.000 08/01/503140X9RP2 | 48,714 | 45,228 |
| FANNIE MAE FNCL FM5768 4.000 11/01/443140X9MS1 | 113,511 | 111,470 |
| FANNIE MAE FNCL FM6355 4.500 08/01/503140XABZ4 | 63,723 | 59,360 |
| FREDDIE MAC FNCL RA4919 3.000 03/01/513133KLPC5 | 55,401 | 53,774 |
| HCA 3.500 09/01/30 '30404119CA5 | 2,101 | 2,114 |
| MORGAN STANLEY 4.083 05/08/24 '23 MTN61744YAG3 | 83,159 | 82,967 |
| US TREASURY 1.875 02/15/51912810SU3 | 253,122 | 277,301 |
| SPRINT LLC 7.125 06/15/2485207UAH8 | 80,357 | 85,322 |
| US TREASURY 3.500 02/15/39912810QA9 | 180,091 | 160,986 |
| FANNIE MAE FNCI FM1577 3.500 09/01/343140X4XF8 | 80,525 | 78,110 |
| PULTEGROUP 5.000 01/15/27 '26745867AX9 | 61,510 | 67,012 |
| FREDDIE MAC FNCL RA3194 2.500 08/01/503133KJRP9 | 142,857 | 136,601 |
| US TREASURY 1.625 02/15/26912828P46 | 82,696 | 80,395 |
| COMMONSPIRIT HEA 3.347 10/01/29 '2920268JAB9 | 81,302 | 86,211 |
| FREDDIE MAC FNCL RA3175 3.000 07/01/503133KJQ47 | 71,399 | 71,195 |
| MICROSOFT 2.525 06/01/50 '49594918CC6 | 84,068 | 81,262 |
| HOWMET 6.875 05/01/25 '25443201AA6 | 78,259 | 80,424 |
| FREDDIE MAC FNCL ZT0542 4.000 07/01/483132ACS76 | 79,042 | 75,539 |
| FREDDIE MAC FNCL ZS9495 3.500 10/01/453132AARQ9 | 211,298 | 203,629 |
| ATP OIL GAS CORP NTS DEFAULTED | 7 | 7 |
| RADIOSHACK CORP NTS B/E DEFAULTED | 7 | 7 |