Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
For calendar year 2024, or tax year beginning 01-01-2024 , and ending 12-31-2024
Name of foundation
TORREY COAST FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)5930 CORNERSTONE COURT WEST 300
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SAN DIEGO, CA92121
A Employer identification number

85-4224393
B Telephone number (see instructions)

(858) 754-8156
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$317,053,780J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 186,068
2 Check right arrow.............
3 Interest on savings and temporary cash investments 11,465,351 10,572,097  
4 Dividends and interest from securities... 236,288 236,288  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,187,602
b Gross sales price for all assets on line 6a 216,808,636
7 Capital gain net income (from Part IV, line 2)... 3,187,666
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
-57,858 -50,820  
12 Total. Add lines 1 through 11........ 15,017,451 13,945,231  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
184,461 64,561   117,199
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
493,399 491,728   1,671
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
210,000 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule).......        
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 887,860 556,289   118,870
25 Contributions, gifts, grants paid....... 9,190,429 10,685,429
26 Total expenses and disbursements. Add lines 24 and 25 10,078,289 556,289   10,804,299
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 4,939,162
b Net investment income (if negative, enter -0-) 13,388,942
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2024)
Form 990-PF (2024)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 101,524,489 19,159,360 19,159,360
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 0 Click to see attachment
List of Attached Documents:
// Content
11,978,153 		11,978,153
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule)....... 210,623,878 Click to see attachment
List of Attached Documents:
// Content
283,264,750 		283,264,750
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 0 Click to see attachment
List of Attached Documents:
// Content
2,651,517 		2,651,517
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 312,148,367 317,053,780 317,053,780
Liabilities 17 Accounts payable and accrued expenses.......... 84,943 137,597
18 Grants payable................. 7,235,000 5,740,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)    
23 Total liabilities (add lines 17 through 22)......... 7,319,943 5,877,597
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 304,828,424 311,176,183
29 Total net assets or fund balances (see instructions)..... 304,828,424 311,176,183
30 Total liabilities and net assets/fund balances (see instructions). 312,148,367 317,053,780
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
304,828,424
2
Enter amount from Part I, line 27a .....................
2
4,939,162
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
1,408,597
4
Add lines 1, 2, and 3 ..........................
4
311,176,183
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
311,176,183
Form 990-PF (2024)
Form 990-PF (2024)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P 2024-01-01 2024-12-31
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 216,808,636   213,620,970 3,187,666
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       3,187,666
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 3,187,666
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 186,106
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 186,106
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 186,106
6 Credits/Payments:
a 2024 estimated tax payments and 2023 overpayment credited to 2024 6a 214,169
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 214,169
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 28,063
11 Enter the amount of line 10 to be: Credited to 2025 estimated taxright arrow28,063 Refundedright arrow 11 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2024 or the taxable year beginning in 2024? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowAKRAM AND ASSOCIATES Telephone no.right arrow (919) 377-1097

Located atright arrow206 HIGH HOUSE RD SUITE 106CARYNC ZIP+4right arrow27513
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2024, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2024)
Form 990-PF (2024)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2024? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2024, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2024?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2024 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2024.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2024? ..
4b
 
No
Form 990-PF (2024)
Form 990-PF (2024)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
ALAN BRAYNIN PRESIDENT
15.00 		0 0 0
5930 CORNERSTONE COURT WEST STE 300
SAN DIEGO,CA92121
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2024)
Form 990-PF (2024)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
GOLDMAN SACHS INVESTMENT AND MANAGEMENT FEES 487,637
SANTA MONICA BOULEVARD SUITE 2600
LOS ANGELES,CA10100
AKRAM & ASSOCIATES PLLC ACCOUNTING SERVICES 104,704
206 HIGH HOUSE RD SUITE 106
CARY,NY27513
ANDERSEN TAX HOLDINGS LLC ACCOUNTING SERVICES 66,632
333 BUSH STREET STE 1700
SAN FRANCISCO,CA94104
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2024)
Form 990-PF (2024)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
278,434,850
b
Average of monthly cash balances.......................
1b
75,550,277
c
Fair market value of all other assets (see instructions)................
1c
2,651,517
d
Total (add lines 1a, b, and c).........................
1d
356,636,644
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
356,636,644
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
5,349,550
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
351,287,094
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
17,564,355
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
17,564,355
2a
Tax on investment income for 2024 from Part V, line 5 .......
2a
186,106
b
Income tax for 2024. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
186,106
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
17,378,249
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
17,378,249
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
17,378,249
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
10,804,299
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
10,804,299
Form 990-PF (2024)
Form 990-PF (2024)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2023 		(c)
2023 		(d)
2024
1 Distributable amount for 2024 from Part X, line 7 17,378,249
2 Undistributed income, if any, as of the end of 2024:
a Enter amount for 2023 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2024:
a From 2019......  
b From 2020......  
c From 2021......  
d From 2022...... 2,412,773
e From 2023......  
f Total of lines 3a through e ........ 2,412,773
4Qualifying distributions for 2024 from Part
XI, line 4: right arrow$ 10,804,299
a Applied to 2023, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2024 distributable amount..... 10,804,299
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2024. 2,412,773 2,412,773
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2023. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2024. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2025 .......... 		4,161,177
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2019 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2025.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2020....  
b Excess from 2021....  
c Excess from 2022....  
d Excess from 2023....  
e Excess from 2024....  
Form 990-PF (2024)
Form 990-PF (2024)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2024, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2024 (b) 2023 (c) 2022 (d) 2021
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
ALAN BRAYNIN
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
JOANNA SOTOLOV
5390 CORNERSTONE COURT WEST SUITE
300
SAN DIEGO,CA92121
(858) 754-8156
HTTPS://WWW.TEAMGEMINI.ORG/GRANTS-AND-FUNDING
bThe form in which applications should be submitted and information and materials they should include:
APPLICATIONS ARE TO BE SUBMITTED ON THE TEAM GEMINI WEBSITE. SUBMISSIONS MUST INCLUDE A BIOSKETCH, A JUSTIFIED BUDGET, AND A TWO PAGE PROPOSAL THAT INCLUDES BACKGROUND, PROPOSED EXPERIMENTS, RATIONALE, EXPECTED OUTCOME, AND TIMELINE.
cAny submission deadlines:
NO SUBMISSION DEADLINES.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
RESTRITCTED TO SCIENTIFIC AND MEDICAL RESEARCH.
Form 990-PF (2024)
Form 990-PF (2024)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

WHITEHEAD INSTITUTE

455 MAIN ST
CAMBRIDGE,MA02142 		NONE PC MEDICAL RESEARCH 160,000

STANFORD

450 JANE STANFORD WAY
STANFORD,CA94305 		NONE PC SCIENTIFIC RESEARCH 200,000

SU2C CONVERGENCE - PROJECT 2

PO BOX 843721
LOS ANGELES,CA90084 		NONE PC SCIENTIFIC RESEARCH 1,150,000

MEDICAL COLLEGE CORNELL

1300 YORK AVENUE ROOM F113
NEW YORK,NY10065 		NONE PC MEDICAL RESEARCH 302,500

STANFORD UNIVERSITY

450 JANE STANFORD WAY
STANFORD,CA94305 		NONE PC SCIENTIFIC RESEARCH 150,000

SU2C AMENDMENT #3 - PROJECT 3

PO BOX 843721
LOS ANGELES,CA90084 		NONE PC MEDICAL RESEARCH 690,000

COLUMBIA UNIVERSITY

630 WEST 168TH STREET 2-401
NEW YORK,NY10032 		NONE PC MEDICAL RESEARCH 150,000

LYELL IMMUNOPHARMA (FKA IMMPACT BIO USA INC)

8501 FALLBROOK AVE STE 200
WEST HILLS,CA91304 		NONE NC SCIENTIFIC RESEARCH 259,122

THE UNIVERSITY OF TEXAS MD ANDERSON CANCER CENTER

1515 HOLCOMBE BLVD
HOUSTON,TX77030 		NONE PC SCIENTIFIC RESEARCH 250,000

LA JOLLA INSTITUTE FOR IMMUNOLOGY GEMINI

9420 ATHENA CIR
LA JOLLA,CA92037 		NONE PC GENERAL FUNDING 175,000

GATEWAY CANCER RESEARCH

20 N MARTINGALE ROAD SUITE 180
SCHAUMBURG,IL60173 		NONE PC SCIENTIFIC RESEARCH 200,000

MARK FOUNDATION FOR CANCER RESEARCH (MFCR)

1350 6TH AVE
NEW YORK,NY10019 		NONE PC MEDICAL RESEARCH 250,000

LA JOLLA COUNTRY DAY

9490 GENESEE AVE
LA JOLLA,CA92037 		NONE PC GENERAL FUNDING 500,000

UNIVERSITY OF PENNSYLVANIA

3451 WALNUT STREET
PHILADELPHIA,PA19104 		NONE PC SCIENTIFIC RESEARCH 247,500

MEMORIAL SLOAN KETTERING CANCER CENTER

1275 YORK AVENUE
NEW YORK,NY10065 		NONE PC MEDICAL RESEARCH 500,000

DANA-FARBER CANCER INSTITUTE INC

450 BROOKLINE AVN
BOSTON,MA02215 		NONE PC MEDICAL RESEARCH 249,731

ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI

1 GUSTAVE L LEVY PL
NEW YORK,NY10029 		NONE PC SCIENTIFIC RESEARCH 234,576

SCRIPPS HEALTH FOUNDATION

4555 EXECUTIVE DRIVE HQ 303
SAN DIEGO,CA92121 		NONE PC MEDICAL RESEARCH 100,000

MARK FOUNDATION FOR CANCER RESEARCH (MFCR)

1350 6TH AVE
NEW YORK,NY10019 		NONE PC MEDICAL RESEARCH 1,000,000

BROAD INSTITUTE

415 MAIN ST
CAMBRIDGE,MA02142 		NONE PC SCIENTIFIC RESEARCH 157,000

NATIONAL ASSOCIATION SAN DIEGO FOUNDATION

2508 HISTORIC DECATUR RD STE 200
SAN DIEGO,CA92106 		NONE PC SCIENTIFIC RESEARCH 75,000

UCSD FOUNDATION

9500 GILMAN DRIVE 0940
LA JOLLA,CA92093 		NONE PC MEDICAL RESEARCH 535,000

THE ENTERTAINMENT INDUSTRY FOUNDATION ( STAND UP FOR CANCER)

10880 WILSHIRE BOULEVARD SUITE 1400
LOS ANGELES,CA90024 		NONE PC SCIENTIFIC RESEARCH 2,550,000

COLUMBIA UNIVERSITY

630 WEST 168TH STREET 2-401
NEW YORK,NY10032 		NONE PC SCIENTIFIC RESEARCH 500,000

CANCER RESEARCH INSTITUTE

29 BROADWAY FLOOR 4
NEW YORK,NY10006 		NONE PC MEDICAL RESEARCH 100,000
Total .................................right arrow 3a 10,685,429
bApproved for future payment

SU2C AMENDMENT #3 - PROJECT 3
PO BOX 843721
LOS ANGELES,CA90084 		NONE PC MEDICAL RESEARCH 690,000

UNIVERSITY OF CALIFORNIA SAN DIEGO (UC SAN DIEGO)
9500 GILMAN DRIVE 0940
LA JOLLA,CA92093 		NONE PC SCIENTIFIC RESEARCH 1,000,000

SU2C AMENDMENT #4
PO BOX 843721
LOS ANGELES,CA90084 		NONE PC MEDICAL RESEARCH 500,000
Total ................................. right arrow 3b 2,190,000
Form 990-PF (2024)
Form 990-PF (2024)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 11,465,351  
4 Dividends and interest from securities ....     14 236,288  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 3,187,602  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aOTHER INCOME 		    01 -57,858 0
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 14,831,383 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
14,831,383
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
1 N/A
Form 990-PF (2024)
Form 990-PF (2024)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name Right Arrow
 Firm's EIN Right Arrow
Firm's address Right Arrow


 Phone no.
Form 990-PF (2024)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
TORREY COAST FOUNDATION
 
Employer identification number

85-4224393
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
TORREY COAST FOUNDATION
  		Employer identification number
85-4224393
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
A456 LLC
 
6230 IRVINE BLVD 145
 
IRVINE, CA92620

$ 10,554


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
2
STREETWISE CAPITAL MANAGEMENT
 
14271 JEFFREY RD STE 512
 
IRVINE, VA92620

$ 175,514


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
TORREY COAST FOUNDATION
  		Employer identification number

85-4224393
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
TORREY COAST FOUNDATION
  		Employer identification number

85-4224393
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  

TY 2024 AccountingFeesSchedule
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING & AUDIT FEES 184,461 64,561   117,199

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

TY 2024 ExpenditureResponsibilityStmt
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
LYELL IMMUNOPHARMA (FKA IMMPACT BIO USA INC)
  		8501 FALLBROOK AVE STE 200
WEST HILLS,CA91304 		2024-12-31 259,122 TO CONDUCT SCIENTIFIC RESEARCH 259,122 THERE IS NO KNOWN DIVERSION OF FUNDS BY THE GRANTEE IN PROCESS   N/A
IMMPACT BIO USA INC
  		8501 FALLBROOK AVE STE 200
WEST HILLS,CA91304 		2023-12-31 740,878 TO CONDUCT SCIENTIFIC RESEARCH 740,878 THERE IS NO KNOWN DIVERSION OF FUNDS BY THE GRANTEE 04/30/24   N/A

TY 2024 InvestmentsCorpBondsSchedule
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Name of Bond End of Year Book Value End of Year Fair Market Value
ZF NA CAPITAL 4.75% 04/29/2025 PVT REGS SR LIEN 154,462 154,462
YUM! BRANDS, INC 3.625% 03/15/2031 USD SR LIEN 314,946 314,946
WYNDHAM DESTINATIONS, INC. STEP 04/01/2027 USD SR LIEN 6.0% 10/01/20-04/01/2 153,291 153,291
WESTERN DIGITAL CORP 4.75% 02/15/2026 USD SR LIEN 160,320 160,320
WALGREENS BOOTS ALLIANCE, INC. 3.45% 06/01/2026 USD SR LIEN 380,544 380,544
VISTRA OPERATIONS COMPANY LLC 5.0% 07/31/2027 USD PVT REGS SR LIEN 387,783 387,783
UNITED RENTALS (NORTH AMERICA), INC. 3.75% 01/15/2032 USD SR LIEN 318,844 318,844
TWILIO INC 3.875% 03/15/2031 USD SR LIEN 322,432 322,432
TRI POINTE GROUP INC 5.7% 06/15/2028 USD SR LIEN 155,381 155,381
TRANSDIGM INC. 4.875% 05/01/2029 USD SER WI SRSUB LIEN 384,780 384,780
TENET HEALTHCARE CORP 4.375% 01/15/2030 USD SR LIEN 158,480 158,480
SS&C TECHNOLOGIES, INC. 5.5% 09/30/2027 USD PVT REGS SR LIEN 385,628 385,628
SIRIUS XM RADIO INC. 3.875% 09/01/2031 USD PVT REGS SR LIEN 158,044 158,044
SILGAN HOLDINGS INC 4.125% 02/01/2028 USD SER WI SR LIEN 382,030 382,030
SERVICE CORPORATION INTERNATIONAL 4.0% 05/15/2031 USD SR LIEN 155,942 155,942
SEALED AIR CORPORATION 6.125% 02/01/2028 USD PVT REGS SR LIEN 394,050 394,050
SEAGATE HDD CAYMAN 4.125% 01/15/2031 USD SR LIEN 328,171 328,171
SBA COMMUNICATIONS CORPORATION 3.125% 02/01/2029 USD SER WI SR LIEN 385,493 385,493
RYMAN HOSPITALITY PROPERTIES, INC. 4.75% 10/15/2027 USD SER WI SR LIEN 155,390 155,390
ROYAL CARIBBEAN GROUP 3.7% 03/15/2028 USD SR LIEN 160,154 160,154
RANGE RESOURCES CORPORATION 8.25% 01/15/2029 USD SR LIEN 384,351 384,351
PRIME SECSRVC BRW/FINANC 3.375% 08/31/2027 USD PVT REGS SR LIEN 374,692 374,692
PERRIGO FINANCE UNLIMITE STEP 06/15/2030 USD SR LIEN 4.9% 06/15/24-06/15/30 314,708 314,708
PERFORMANCE FOOD GROUP I 4.25% 08/01/2029 USD PVT REGS SR LIEN 297,845 297,845
PENSKE AUTOMOTIVE GROUP 3.75% 06/15/2029 USD SRSUB LIEN 157,511 157,511
ONEMAIN FINANCE CORP 4.0% 09/15/2030 USD SR LIEN 164,798 164,798
NUSTAR LOGISTICS LP 6.375% 10/01/2030 USD SR LIEN 305,594 305,594
NRG ENERGY, INC. 5.75% 01/15/2028 USD SER WI SR LIEN 158,561 158,561
NORDSTROM, INC. 4.25% 08/01/2031 USD SER WI SR LIEN 157,039 157,039
NEWELL BRANDS INC. 6.625% 09/15/2029 USD SR LIEN 165,827 165,827
MURPHY OIL USA, INC. 4.75% 09/15/2029 USD SR LIEN 317,749 317,749
MGM RESORTS INTERNATIONAL 4.75% 10/15/2028 USD SR LIEN 382,197 382,197
MARRIOTT OWNERSHIP RESORTS, INC. 4.75% 01/15/2028 USD SER WI SR LIEN 161,821 161,821
KINETIK HOLDINGS LP 5.875% 06/15/2030 USD PVT REGS SR LIEN 306,929 306,929
KB HOME 6.875% 06/15/2027 USD SR LIEN 59,405 59,405
IRON MOUNTAIN INC 5.25% 07/15/2030 USD PVT REGS SR LIEN 92,004 92,004
HOLOGIC, INC. 3.25% 02/15/2029 USD PVT REGS SR LIEN 382,230 382,230
HILTON GRAND VACATIONS BORROWER ESCROW LLC 5.0% 06/01/2029 USD PVT REGS SR L 60,573 60,573
HILTON DOMESTIC OPERATING CO INC 4.875% 01/15/2030 USD SER WI SR LIEN 318,067 318,067
HILLENBRAND INC 3.75% 03/01/2031 USD SR LIEN 320,059 320,059
H.B. FULLER CO 4.0% 02/15/2027 USD SR LIEN 158,310 158,310
GOODYEAR TIRE & RUBBER COMPANY (THE) 5.0% 07/15/2029 USD SER WI SR LIEN 156,260 156,260
FAIR ISAAC CORP 5.25% 05/15/2026 USD PVT REGS SR LIEN 385,512 385,512
EXPAND ENERGY CORPORATION 4.75% 02/01/2032 USD SR LIEN 322,254 322,254
ENERGIZER HOLDINGS INC 4.375% 03/31/2029 USD PVT REGS SR LIEN 158,824 158,824
ENCOMPASS HEALTH CORP 4.625% 04/01/2031 USD SR LIEN 314,188 314,188
ELANCO ANIMAL HEALTH INCORPORATED STEP 08/28/2028 USD SER WI SR LIEN 6.65% 0 383,442 383,442
CROWN AMERICAS LLC 5.25% 04/01/2030 USD SER WI SR LIEN 310,692 310,692
CROWDSTRIKE HOLDINGS INC 3.0% 02/15/2029 USD SR LIEN 388,866 388,866
COMMERCIAL METALS COMPANY 4.375% 03/15/2032 USD SR LIEN 157,148 157,148
CIVITAS RESOURCES, INC. 8.375% 07/01/2028 USD PVT REGS SR LIEN 154,504 154,504
CENTRAL GARDEN & PET CO 4.125% 10/15/2030 USD SR LIEN 155,124 155,124
CCO HOLDINGS, LLC 4.5% 05/01/2032 USD SER WI SR LIEN 330,578 330,578
CALPINE CORP 4.5% 02/15/2028 USD PVT REGS SR LIEN 385,563 385,563
BUCKEYE PARTNERS, L.P. 4.125% 12/01/2027 USD SR LIEN 156,985 156,985
BLOCK INC 3.5% 06/01/2031 USD SR LIEN 312,825 312,825
BALL CORPORATION 3.125% 09/15/2031 USD SR LIEN 314,868 314,868
ASBURY AUTOMOTIVE GROUP, INC. 4.75% 03/01/2030 USD SER WI SR LIEN 160,726 160,726
AMERICAN AXLE & MANUFACTURING, INC. 5.0% 10/01/2029 USD SR LIEN 158,290 158,290
AECOM 5.125% 03/15/2027 USD SER WI SR LIEN 385,091 385,091
1011778 BC / NEW RED FIN 4.0% 10/15/2030 USD PVT REGS SRSUB LIEN 309,655 309,655
ZIMMER BIOMET HOLDINGS 3.05% 01/15/2026 USD SR LIEN 866,701 866,701
WELLS FARGO & COMPANY HYBRID MTN 06/17/2027 USD SR LIEN CPN 06/17/19 3.196% 1,034,791 1,034,791
WELLS FARGO & COMPANY HYBRID MTN 04/25/2026 SR LIEN CPN 04/25/22 3.908% 897,246 897,246
VERIZON COMMUNICATIONS, INC. 4.329% 09/21/2028 USD SER WI SR LIEN 16,885 16,885
VERIZON COMMUNICATIONS, INC. 4.016% 12/03/2029 USD SER WI SR LIEN 1,179,153 1,179,153
VALERO ENERGY CORP 2.15% 09/15/2027 USD SR LIEN 1,761,155 1,761,155
UDR INC MTN 3.2% 01/15/2030 USD SR LIEN 1,758,296 1,758,296
U.S. BANCORP MTN 3.0% 07/30/2029 USD SUB LIEN 15,792 15,792
U.S. BANCORP HYBRID MTN 07/22/2028 USD SR LIEN CPN 07/22/22 4.548% 873,181 873,181
TRUIST FINANCIAL CORPORATION HYBRID MTN 03/02/2027 USD SR LIEN CPN 03/02/21 23,115 23,115
TRUIST BANK HYBRID 09/17/2029 USD SER BKNT SUB LIEN CPN 09/16/19 4.632% 777,208 777,208
TRACTOR SUPPLY COMPANY 1.75% 11/01/2030 USD SR LIEN 1,628,391 1,628,391
TOTAL SYSTEM SERVICES IN 4.8% 04/01/2026 USD SR LIEN 336,200 336,200
TORONTO-DOMINION BANK (THE) MTN 1.2% 06/03/2026 USD SR LIEN 739,120 739,120
THOMSON REUTERS CORPORATION 3.35% 05/15/2026 USD SR LIEN 512,777 512,777
THE WILLIAMS COMPANIES, INC. 4.0% 09/15/2025 SR LIEN 960,352 960,352
THE SOUTHERN COMPANY 3.25% 07/01/2026 USD SR LIEN 662,293 662,293
THE BANK OF NOVA SCOTIA 4.5% 12/16/2025 SUB LIEN 1,699,450 1,699,450
TELEFONICA EMISIONES SA 4.103% 03/08/2027 USD SR LIEN 337,030 337,030
TAKEDA PHARMACEUTICAL COMPANY LIMITED 2.05% 03/31/2030 USD SR LIEN 1,739,641 1,739,641
T-MOBILE USA, INC. 3.875% 04/15/2030 USD SER WI SR LIEN 940,499 940,499
T-MOBILE USA, INC. 3.375% 04/15/2029 USD SR LIEN 346,098 346,098
SYNCHRONY FINANCIAL 3.7% 08/04/2026 USD SR LIEN 349,609 349,609
SUMITOMO MITSUI FINANCIAL GROUP, INC. 3.784% 03/09/2026 USD SR LIEN 22,033 22,033
SUMITOMO MITSUI FINANCIAL GROUP, INC. 2.632% 07/14/2026 USD SR LIEN 674,256 674,256
STATE STREET CORPORATION HYBRID 11/18/2027 USD SR LIEN CPN 11/18/21 1.684% 25,625 25,625
STATE STREET CORPORATION HYBRID 02/07/2028 USD SR LIEN CPN 02/07/22 2.203% 3,093,072 3,093,072
SRS CCD 26745899 MTN 3.75% 06/01/2026 USD SR LIEN 19,753 19,753
SPECTRA ENERGY PARTNERS, L.P. 3.5% 03/15/2025 SR LIEN 1,047,275 1,047,275
SKYWORKS SOLUTIONS, INC. 1.8% 06/01/2026 USD SR LIEN 11,511 11,511
SIMON PROPERTY GROUP, L.P. 3.3% 01/15/2026 USD SR LIEN 604,445 604,445
SIMON PROPERTY GROUP, L.P. 3.25% 11/30/2026 USD SR LIEN 496,722 496,722
SIMON PROPERTY GROUP LP 3.375% 06/15/2027 USD SR LIEN 875,554 875,554
SHERWIN-WILLIAMS CO 2.3% 05/15/2030 USD SR LIEN 1,306,547 1,306,547
SANTANDER UK GROUP HOLDINGS PLC HYBRID 11/03/2028 USD SR LIEN CPN 11/03/17 3 1,216,779 1,216,779
SANTANDER UK GROUP HOLDINGS PLC HYBRID 01/11/2028 USD SR LIEN CPN 01/11/22 2 271,354 271,354
SABINE PASS LIQUEFACTION, LLC 5.0% 03/15/2027 USD SER WI SR LIEN 954,749 954,749
ROYALTY PHARMA PLC 1.2% 09/02/2025 SER WI SR LIEN 358,385 358,385
ROYAL BANK OF CANADA MTN 4.875% 01/12/2026 USD SR LIEN 580,459 580,459
ROYAL BANK OF CANADA MTN 4.65% 01/27/2026 USD SUB LIEN 1,359,726 1,359,726
ROPER TECHNOLOGIES INC 1.4% 09/15/2027 USD SR LIEN 1,330,265 1,330,265
REPUBLIC SERVICES INC 4.875% 04/01/2029 USD SR LIEN 1,257,061 1,257,061
REALTY INCOME CORP 3.4% 01/15/2028 USD SR LIEN 2,211,635 2,211,635
PRINCIPAL FINANCIAL GROUP, INC. 3.7% 05/15/2029 USD SR LIEN 4,786 4,786
PNC FINANCIAL SERVICES HYBRID 06/12/2029 USD SR LIEN CPN 06/12/23 5.582% 780,542 780,542
PIEDMONT NATURAL GAS CO 3.5% 06/01/2029 USD SR LIEN 447,210 447,210
PHILIP MORRIS INTL INC 5.625% 11/17/2029 USD SR LIEN 236,485 236,485
PHILIP MORRIS INTERNATIONAL INC. 4.875% 02/13/2029 USD SR LIEN 1,166,898 1,166,898
PHILIP MORRIS INTERNATIONAL INC. 4.875% 02/13/2026 USD SR LIEN 786,430 786,430
ORACLE CORPORATION 3.25% 11/15/2027 USD SR LIEN 982,252 982,252
ORACLE CORPORATION 2.95% 05/15/2025 SR LIEN 328,571 328,571
ONEOK, INC. 5.8% 11/01/2030 USD SR LIEN 1,260,041 1,260,041
OMNICOM GROUP INC. 3.6% 04/15/2026 USD SR LIEN 722,267 722,267
NXP BV/NXP FDG/NXP USA 4.3% 06/18/2029 USD SR LIEN 437,541 437,541
NXP B.V. 4.4% 06/01/2027 USD SR LIEN NXP FUNDING LLC / NXP USA INC 532,727 532,727
NUTRIEN LTD 4.2% 04/01/2029 USD SR LIEN 1,500,977 1,500,977
NORTHROP GRUMMAN CORPORATION 4.6% 02/01/2029 USD SR LIEN 1,752,773 1,752,773
NEXTERA ENERGY CAPITAL HOLDINGS, INC. 4.9% 02/28/2028 USD SR LIEN 923,382 923,382
NEXTERA ENERGY CAPITAL HOLDINGS, INC. 3.5% 04/01/2029 USD SR LIEN 10,476 10,476
NETAPP, INC. 1.875% 06/22/2025 SR LIEN 19,704 19,704
NATIONAL GRID PLC 5.602% 06/12/2028 USD SR LIEN 855,721 855,721
NATIONAL AUSTRALIA BANK LTD-NEW YORK BRANCH 3.905% 06/09/2027 USD SR LIEN 3,463,195 3,463,195
NASDAQ INC 3.85% 06/30/2026 USD SR LIEN 869,537 869,537
MPLX LP 4.25% 12/01/2027 USD SER WI SR LIEN 18,767 18,767
MPLX LP 4.125% 03/01/2027 USD SR LIEN 436,550 436,550
MPLX LP 1.75% 03/01/2026 USD SR LIEN 531,281 531,281
MORGAN STANLEY HYBRID 12/10/2026 USD SR LIEN CPN 12/10/20 0.985% 1,084,620 1,084,620
MORGAN STANLEY HYBRID 04/20/2028 USD SR LIEN CPN 04/20/22 4.21% 1,075,317 1,075,317
MIZUHO FINANCIAL GROUP, INC. HYBRID 05/27/2029 USD SR LIEN CPN 02/27/23 5.66 2,132,535 2,132,535
MITSUBISHI UFJ FINANCIAL GROUP, INC. HYBRID 07/20/2027 USD SR LIEN CPN 07/20 819,020 819,020
MITSUBISHI UFJ FINANCIAL GROUP, INC. 3.961% 03/02/2028 USD SR LIEN 947,888 947,888
MCKESSON CORP 0.9% 12/03/2025 SR LIEN 595,962 595,962
MCCORMICK & CO 0.9% 02/15/2026 USD SR LIEN 1,024,607 1,024,607
MARATHON PETROLEUM CORPORATION 5.125% 12/15/2026 USD SER WI SR LIEN 423,145 423,145
MARATHON PETROLEUM CORP 4.7% 05/01/2025 SR LIEN 19,128 19,128
M&T BANK CORPORATION HYBRID 08/16/2028 USD SR LIEN CPN 08/16/22 4.553% 271,713 271,713
LOWE'S COMPANIES INC 1.7% 10/15/2030 USD SR LIEN 1,754,189 1,754,189
LLOYDS BANKING GROUP PLC HYBRID 05/11/2027 USD SR LIEN CPN 03/11/21 1.627% 764,092 764,092
L3HARRIS TECHNOLOGIES, INC. 4.4% 06/15/2028 USD SR LIEN 502,949 502,949
L3HARRIS TECHNOLOGIES, INC. 3.85% 12/15/2026 USD SER WI SR LIEN 451,538 451,538
KRAFT HEINZ FOODS COMPANY 3.875% 05/15/2027 USD SER WI SR LIEN 961,995 961,995
KINDER MORGAN, INC. 4.3% 06/01/2025 SR LIEN 18,023 18,023
KINDER MORGAN INC 5.0% 02/01/2029 USD SR LIEN 1,088,889 1,088,889
KEURIG DR PEPPER INC. 4.597% 05/25/2028 USD SER WI SR LIEN 508,857 508,857
KEURIG DR PEPPER INC. 3.95% 04/15/2029 USD SR LIEN 451,222 451,222
KELLOGG CO 4.3% 05/15/2028 USD SR LIEN 18,754 18,754
KELLOGG CO 3.4% 11/15/2027 USD SR LIEN 1,291,247 1,291,247
JPMORGAN CHASE & CO. HYBRID 05/01/2028 USD SR LIEN CPN 04/25/17 3.54% 1,100,654 1,100,654
JPMORGAN CHASE & CO. HYBRID 03/13/2026 SR LIEN CPN 03/13/20 2.005% 907,723 907,723
JM SMUCKER CO 5.9% 11/15/2028 USD SR LIEN 1,273,276 1,273,276
INTERNATIONAL BUSINESS MACHINES CORPORATION 1.7% 05/15/2027 USD SR LIEN 1,547,046 1,547,046
INTERCONTINENTAL EXCHANGE, INC. 3.75% 12/01/2025 SR LIEN 857,965 857,965
INTERCONTINENTAL EXCHANGE, INC. 3.1% 09/15/2027 USD SR LIEN 1,303,680 1,303,680
INTEL CORPORATION 4.875% 02/10/2028 USD SR LIEN 1,928,407 1,928,407
ING GROEP NV HYBRID 03/19/2030 USD SR LIEN CPN 03/19/24 5.335% 588,975 588,975
ING GROEP N.V. HYBRID 03/28/2028 USD SR LIEN CPN 03/28/22 4.017% 1,457,011 1,457,011
HUNTINGTON BANCSHARES INCORPORATED 4.0% 05/15/2025 SR LIEN 392,879 392,879
HUMANA INC. 5.75% 03/01/2028 USD SR LIEN 440,851 440,851
HUMANA INC. 3.7% 03/23/2029 USD SR LIEN 514,390 514,390
HSBC HOLDINGS PLC HYBRID 08/17/2029 USD SR LIEN CPN 08/17/21 2.206% 553,056 553,056
HSBC HOLDINGS PLC HYBRID 06/04/2026 SR LIEN CPN 06/04/20 2.099% 414,736 414,736
HSBC HOLDINGS PLC HYBRID 03/13/2028 USD SR LIEN CPN 03/13/17 4.041% 438,006 438,006
HONEYWELL INTERNATIONAL INC 4.875% 09/01/2029 USD SR LIEN 1,515,923 1,515,923
GLOBAL PAYMENTS INC. 3.2% 08/15/2029 USD SR LIEN 316,642 316,642
GILEAD SCIENCES INC. 3.65% 03/01/2026 USD SER SR LIEN 1,205,201 1,205,201
GENERAL MOTORS FINL CO 4.3% 04/06/2029 USD SR LIEN 990,612 990,612
GENERAL MOTORS FINANCIAL COMPANY, INC. 4.35% 01/17/2027 USD SR LIEN 14,115 14,115
GENERAL MILLS, INC. 4.0% 04/17/2025 SR LIEN 447,484 447,484
FOX CORPORATION 4.709% 01/25/2029 USD SER WI SR LIEN 990,647 990,647
FORTIVE CORPORATION 3.15% 06/15/2026 USD SER WI SR LIEN 974,586 974,586
FISERV, INC. 3.85% 06/01/2025 SR LIEN 941,461 941,461
FISERV INC 3.2% 07/01/2026 USD SR LIEN 19,882 19,882
FIFTH THIRD BANCORP 2.55% 05/05/2027 USD SR LIEN 576,974 576,974
EVERSOURCE ENERGY 4.25% 04/01/2029 USD SER O SR LIEN 1,291,032 1,291,032
ENTERPRISE PRODUCTS OPERATING LLC 3.125% 07/31/2029 USD SR LIEN 570,866 570,866
ENTERGY CORPORATION 2.8% 06/15/2030 USD SR LIEN 2,467,395 2,467,395
ENERGY TRANSFER OPERATNG 5.5% 06/01/2027 USD SER * SR LIEN 703,995 703,995
ENBRIDGE ENERGY PARTNERS 5.875% 10/15/2025 SR LIEN 5,088 5,088
EMERA US FINANCE LP 3.55% 06/15/2026 USD SER WI SR LIEN 1,461,895 1,461,895
EBAY INC. 1.4% 05/10/2026 USD SR LIEN 1,258,763 1,258,763
DOWDUPONT INC. 4.493% 11/15/2025 SR LIEN 557,813 557,813
DOW CHEMICAL COMPANY (THE) 4.8% 11/30/2028 USD SER WI SR LIEN 1,696,299 1,696,299
DOLLAR GENERAL CORPORATION 4.15% 11/01/2025 SR LIEN 952,511 952,511
DIGITAL REALTY TRUST LP 3.7% 08/15/2027 USD SR LIEN 19,718 19,718
DELL INT LLC / EMC CORP 4.9% 10/01/2026 USD SR LIEN 389,821 389,821
CVS HEALTH CORPORATION 4.3% 03/25/2028 USD SR LIEN 18,624 18,624
CVS HEALTH CORPORATION 3.0% 08/15/2026 USD SR LIEN 435,108 435,108
CVS HEALTH CORPORATION 2.875% 06/01/2026 USD SR LIEN 527,581 527,581
CUMMINS INC. 4.9% 02/20/2029 USD SR LIEN 3,065,947 3,065,947
CROWN CASTLE INTL CORP 3.65% 09/01/2027 USD SR LIEN 516,404 516,404
CROWN CASTLE INTERNATIONAL CORP. 3.7% 06/15/2026 USD SR LIEN 453,341 453,341
CREDIT SUISSE NEW YORK 5.0% 07/09/2027 USD SR LIEN 2,214,175 2,214,175
COOPERAT RABOBANK UA/NY 5.041% 03/05/2027 USD SR LIEN 2,202,142 2,202,142
CONSTELLATION BRANDS, INC. 4.4% 11/15/2025 SR LIEN 334,103 334,103
COMERICA INC 4.0% 02/01/2029 USD SR LIEN 322,306 322,306
COMCAST CORP 3.4% 04/01/2030 USD SR LIEN 2,152,116 2,152,116
CLOROX COMPANY (THE) 1.8% 05/15/2030 USD SR LIEN 1,621,477 1,621,477
CITIGROUP INC. HYBRID 06/09/2027 USD SR LIEN CPN 06/09/21 1.462% 22,872 22,872
CITIGROUP INC. HYBRID 01/29/2031 USD SR LIEN CPN 01/29/20 2.666% 534,874 534,874
CITIGROUP INC. HYBRID 01/28/2027 USD SR LIEN CPN 01/28/21 1.122% 781,722 781,722
CITIGROUP INC. HYBRID 01/25/2026 SR LIEN CPN 10/25/24-01/24/25 2.014% 686,431 686,431
CIGNA CORPORATION 4.5% 02/25/2026 USD SER WI SR LIEN 669,659 669,659
CIGNA CORP 1.25% 03/15/2026 USD SR LIEN 548,682 548,682
CARRIER GLOBAL CORPORATION 2.493% 02/15/2027 USD SER WI SR LIEN 346,639 346,639
CARDINAL HEALTH, INC. 5.125% 02/15/2029 USD SR LIEN 1,309,752 1,309,752
CANADIAN NATURAL RESOURCES LIMITED 3.85% 06/01/2027 USD SR LIEN 1,304,983 1,304,983
CANADIAN IMPERIAL BANK OF COMMERCE 5.986% 10/03/2028 USD SR LIEN 2,057,188 2,057,188
CANADIAN IMPERIAL BANK 1.25% 06/22/2026 USD SR LIEN 924,365 924,365
BUNGE LIMITED FINANCE CORP. 3.25% 08/15/2026 USD SR LIEN 457,975 457,975
BROADCOM INC. 4.75% 04/15/2029 USD SER WI SR LIEN 341,203 341,203
BROADCOM CORPORATION 3.5% 01/15/2028 USD SER WI SR LIEN 296,600 296,600
BOEING COMPANY (THE) 2.196% 02/04/2026 USD SR LIEN 15,659 15,659
BOEING CO 2.7% 02/01/2027 USD SR LIEN 329,821 329,821
BIOGEN INC. 4.05% 09/15/2025 SR LIEN 19,119 19,119
BERRY GLOBAL INC 1.57% 01/15/2026 USD SR LIEN 354,878 354,878
BECTON DICKINSON AND CO 3.7% 06/06/2027 USD SR LIEN 450,266 450,266
BAXTER INTERNATIONAL INC 2.272% 12/01/2028 USD SR LIEN 459,710 459,710
BAXTER INTERNATIONAL INC 1.915% 02/01/2027 USD SR LIEN 553,191 553,191
BARCLAYS PLC HYBRID 11/24/2027 USD SR LIEN CPN 11/24/21 2.279% 621,644 621,644
BARCLAYS PLC 4.337% 01/10/2028 USD SR LIEN 995,675 995,675
BANK OF NEW YORK MELLON CORPORATION (THE) HYBRID MTN 07/26/2030 USD SR LIEN 3,072,869 3,072,869
BANK OF AMERICA CORPORATION HYBRID MTN 04/24/2028 USD SR LIEN CPN 04/24/17 3 1,095,582 1,095,582
BANK OF AMERICA CORPORATION HYBRID 03/11/2027 USD SER N SR LIEN CPN 03/11/21 1,067,426 1,067,426
BANCO SANTANDER, S.A. HYBRID 03/24/2028 USD SR LIEN CPN 03/24/22 4.175% 1,386,531 1,386,531
BANCO SANTANDER SA HYBRID 03/14/2030 USD SER * SR LIEN CPN 03/14/24 5.538% 204,183 204,183
BANCO SANTANDER SA 2.746% 05/28/2025 SR LIEN 397,175 397,175
B.A.T. CAPITAL CORPORATION 4.7% 04/02/2027 USD SR LIEN 452,304 452,304
B.A.T. CAPITAL CORPORATION 3.557% 08/15/2027 USD SR LIEN M-W+20.00BP 533,625 533,625
AXA EQUITABLE HOLDINGS, INC. 4.35% 04/20/2028 USD SER WI SR LIEN 2,965 2,965
AUTOZONE INC 3.75% 06/01/2027 USD SR LIEN 1,299,686 1,299,686
AUTONATION INC 4.75% 06/01/2030 USD SR LIEN 687,247 687,247
AT&T INC. 3.8% 02/15/2027 USD SR LIEN 449,973 449,973
ARCH CAPITAL FINANCE LLC 4.011% 12/15/2026 USD SR LIEN 563,220 563,220
AON PLC 3.875% 12/15/2025 SR LIEN 639,246 639,246
AON CORP/AON GLOBAL HOLD 2.85% 05/28/2027 USD SR LIEN 570,363 570,363
AMGEN INC. 5.15% 03/02/2028 USD SR LIEN 641,164 641,164
AMGEN INC. 3.125% 05/01/2025 SR LIEN 562,813 562,813
AMERIPRISE FINANCIAL, INC. 5.7% 12/15/2028 USD SR LIEN 2,114,959 2,114,959
AMERICAN TOWER CORPORATION 3.6% 01/15/2028 USD SR LIEN 580,902 580,902
AMERICAN TOWER CORP 1.3% 09/15/2025 SR LIEN 341,074 341,074
AMERICAN EXPRESS COMPANY HYBRID 07/27/2029 USD SR LIEN CPN 07/28/23 5.282% 3,002,134 3,002,134
AMERICAN ELECTRIC POWER 3.2% 11/13/2027 USD SR LIEN 1,411,079 1,411,079
ALTRIA GROUP, INC. 4.4% 02/14/2026 USD SR LIEN 5,059 5,059
ALTRIA GROUP, INC. 2.625% 09/16/2026 USD SR LIEN 455,521 455,521
ALEXANDRIA REAL ESTATE E 4.9% 12/15/2030 USD SR LIEN 1,701,067 1,701,067
AIR LEASE CORPORATION 5.85% 12/15/2027 USD SR LIEN 511,720 511,720
AIR LEASE CORP 1.875% 08/15/2026 USD SR LIEN 458,031 458,031
AERCAP IRELAND CAP/GLOBA 1.75% 01/30/2026 USD SR LIEN 772,185 772,185
3M COMPANY MTN 3.375% 03/01/2029 USD SR LIEN 1,955,730 1,955,730
JPMORGAN CHASE & CO. HYBRID 04/22/2027 USD SR LIEN CPN 04/22/21 1.578% 1,070,739 1,070,739
CAPITAL ONE FINANCIAL CORPORATION HYBRID 05/10/2028 USD SR LIEN CPN 05/09/2 1,199,409 1,199,409
WOODSIDE FINANCE LIMITED 3.65% 03/05/2025 PVT 144A PVT SR LIEN 757,140 757,140
WESTPAC BANKING CORPORATION CP 10/03/2024 07/02/2025 SOFRRATE1DY +25.00BP 268,038 268,038
WESTPAC BANKING CORPORATION CP 05/07/2024 05/01/2025 SOFRRATE1DY +33.00BP 750,499 750,499
WESTPAC BANKING CORPORATION CP 0.000000 02/14/2025 540,013 540,013
WESTERN UNION CO/THE 2.85% 01/10/2025 SR LIEN 266,429 266,429
WELLS FARGO BANK NA 5.55% 08/01/2025 SER BKNT SR LIEN 256,899 256,899
VERSAILLES COMMERCIAL PAPER LLC 248,918 248,918
VERISK ANALYTICS, INC. 4.0% 06/15/2025 SR LIEN 495,955 495,955
UBS AG - LONDON BRANCH CP 0.000000 12/03/2025 524,697 524,697
TRANS-CANADA PIPELINES 4.875% 01/15/2026 USD SR LIEN 222,859 222,859
TRANS-ALLEGHENY INTERSTATE LINE COMPANY 3.85% 06/01/2025 PVT 144A PVT SR LIE 1,303,738 1,303,738
TORONTO-DOMINION BANK (THE)-NEW YORK BRANCH CD 5.400000 01/03/2025 640,230 640,230
TORONTO-DOMINION BANK (THE)-NEW YORK BRANCH CD 5.000000 01/16/2025 716,237 716,237
TORONTO-DOMINION BANK (THE) CP 05/10/2024 05/09/2025 SOFRRATE1DY +34.00BP 274,103 274,103
TORONTO-DOMINION BANK (THE) - NEW YORK BRANCH 521,136 521,136
TORONTO-DOMINION BANK (THE) 645,674 645,674
TORONTO DOMINION BANK NY FRN 04/01/2025 SER YCD SOFRRATE O/N +33.00BP SR LIE 191,448 191,448
THE WILLIAMS COMPANIES, INC. 3.9% 01/15/2025 SR LIEN 129,232 129,232
TELUS CORPORATION CP 0.000000 04/14/2025 246,678 246,678
TELUS CORPORATION 414,203 414,203
TC PIPELINES, LP 4.375% 03/13/2025 SR LIEN 757,467 757,467
SWEDBANK AB CP 0.000000 03/03/2025 598,399 598,399
SVENSKA HANDELSBANKEN AB-NEW YORK BRANCH CP 06/10/2024 06/09/2025 SOFRRATE 600,336 600,336
SVENSKA HANDELSBANKEN AB-NEW YORK BRANCH CD 06/20/2024 06/20/2025 SOFRRATE 241,491 241,491
SVENSKA HANDELSBANKEN AB-NEW YORK BRANCH CD 01/19/2024 01/17/2025 SOFRRATE 566,049 566,049
SUNOCO LOGISTICS PARTNERS OPERATIONS L.P. 5.95% 12/01/2025 SR LIEN 527,241 527,241
SUMITOMO MITSUI FINANCIAL GROUP, INC. 2.348% 01/15/2025 SR LIEN 1,176,576 1,176,576
STEEL DYNAMICS, INC. 2.4% 06/15/2025 SR LIEN 132,559 132,559
STANDARD CHARTERED PLC MTN 3.2% 04/17/2025 PVT 144A PVT SR LIEN 751,034 751,034
STANDARD CHARTERED BANK-NEW YORK BRANCH CD 4.660000 11/20/2025 569,615 569,615
SONOCO PRODUCTS CO 1.8% 02/01/2025 SR LIEN 880,947 880,947
SOCIETE GENERALE MTN 2.625% 01/22/2025 PVT 144A PVT SR LIEN 896,068 896,068
SKANDINAVISKA ENSKILDA BANKEN AB CD 07/09/2024 02/10/2025 SOFRRATE1DY +20. 307,012 307,012
SHEFFIELD RECEIVABLES COMPANY LLC 248,946 248,946
SHEFFIELD RECEIVABLES COMPANY LLC 248,224 248,224
SCHLUMBERGER HOLDINGS CORPORATION 4.0% 12/21/2025 PVT 144A PVT SR LIEN 357,826 357,826
SANTANDER UK PLC 313,925 313,925
SALISBURY RECEIVABLES COMPANY LLC CP 0.000000 01/31/2025 588,766 588,766
SALISBURY RECEIVABLES COMPANY LLC 250,986 250,986
SABINE PASS LIQUEFACTION, LLC 5.625% 03/01/2025 SER WI SR LIEN 68,282 68,282
ROYAL BANK OF CANADA-NEW YORK BRANCH CD 06/07/2024 06/05/2025 SOFRRATE1DY 111,524 111,524
ROYAL BANK OF CANADA 246,968 246,968
RELIANCE STEEL & ALUM 1.3% 08/15/2025 SR LIEN 894,676 894,676
PURE GROVE FUNDING 1,653,754 1,653,754
PURE GROVE FUNDING 575,269 575,269
PROTECTIVE LIFE GLOBAL 1.646% 01/13/2025 PVT 144A PVT 278,853 278,853
PODIUM FUNDING TRUST CP 0.000000 02/05/2025 415,158 415,158
PODIUM FUNDING TRUST 275,616 275,616
PENSKE TRUCK LEASING/PTL 4.0% 07/15/2025 PVT 144A PVT SR LIEN 740,411 740,411
PENSKE TRUCK LEASING CO., L.P. 3.95% 03/10/2025 PVT 144A PVT SR LIEN 134,367 134,367
PENSKE TRUCK LEASING CO., L.P. 360,395 360,395
PARADELLE FUNDING LLC 244,789 244,789
PARADELLE FUNDING LLC 498,194 498,194
PACIFIC LIFE SHORT TERM FUNDING, LLC CP 0.000000 01/30/2025 348,708 348,708
PACCAR FINANCIAL CORP MTN 1.8% 02/06/2025 SR LIEN 142,635 142,635
ORACLE CORPORATION 2.5% 04/01/2025 SR LIEN 1,181,591 1,181,591
NOVARTIS CAPITAL CORPORATION 3.0% 11/20/2025 SR LIEN 144,648 144,648
NISOURCE INC 0.95% 08/15/2025 SR LIEN 894,796 894,796
NIEUW AMSTERDAM RECEIVABLES CORPORATION 1,180,521 1,180,521
NEXTERA ENERGY CAPITAL HOLDINGS, INC. 4.95% 01/29/2026 USD SR LIEN 135,018 135,018
NEXTERA ENERGY CAPITAL 6.051% 03/01/2025 SR LIEN 298,406 298,406
NEXTERA ENERGY CAPITAL 5.749% 09/01/2025 SR LIEN 120,985 120,985
NETAPP, INC. 1.875% 06/22/2025 SR LIEN 885,703 885,703
NATWEST MARKETS PLC 3.479% 03/22/2025 PVT 144A PVT SR LIEN 614,703 614,703
NATIONAL SECURITIES CLEARING CORPORATION CP 0.000000 02/03/2025 298,758 298,758
NATIONAL RURAL UTIL COOP FRN MTN 12/03/2025 USD SOFRRATE O/N +40.00BP SR LIE 640,574 640,574
NATIONAL BANK OF KUWAIT S.A.K.P - NEW YORK BRANCH CD 4.860000 05/16/2025 596,597 596,597
NATIONAL BANK OF KUWAIT S.A.K.P - NEW YORK BRANCH CD 12/13/2024 12/12/2025 601,503 601,503
NATIONAL BANK OF KUWAIT S.A.K.P - NEW YORK BRANCH 5.73% 01/10/2025 SER YCD S 475,378 475,378
NATIONAL BANK OF CANADA 5.25% 01/17/2025 SR LIEN 256,034 256,034
MPLX LP 4.875% 06/01/2025 SER WI SR LIEN 451,522 451,522
MONDELEZ INTL HLDINGS NE 4.25% 09/15/2025 PVT 144A PVT SR LIEN 670,916 670,916
MONDELEZ INTERNATIONAL 1.5% 05/04/2025 SR LIEN 178,379 178,379
MITSUBISHI UFJ FIN GRP 2.193% 02/25/2025 SR LIEN 1,165,465 1,165,465
MICROCHIP TECHNOLOGY INCORPORATED 4.25% 09/01/2025 SR LIEN 894,104 894,104
MATCHPOINT FINANCE PLC CP 0.000000 04/16/2025 493,323 493,323
MARRIOTT INTERNATIONAL, INC 3.75% 03/15/2025 SER WI SR LIEN 879,431 879,431
MACQUARIE BANK LIMITED CP 10/07/2024 10/03/2025 SOFRTERMCME1DY +36.00BPSOF 1,204,237 1,204,237
MACQUARIE BANK LIMITED 595,011 595,011
LVMH MOET HENNESSY LOUIS VUITTON CP 0.000000 04/07/2025 568,152 568,152
LMA-AMERICAS LLC CP ISS 08/26/24 MAT 02/27/25 LMA R 0.0% USD 290,889 290,889
LMA-AMERICAS LLC CP ISS 04/02/25 MAT 04/09/25 LMA R 0.0% USD 325,931 325,931
LLOYDS BANKING GROUP PLC 4.45% 05/08/2025 SR LIEN 200,948 200,948
LIBERTY STREET FUNDING (R) CP ISS 03/14/25 MAT 03/17/25 LIBERTY R 0.0% USD 1,063,851 1,063,851
LENNOX INTERNATIONAL INC 1.35% 08/01/2025 SR LIEN 657,536 657,536
LANDESBANK HESSEN-THUERINGEN GIROZENTRALE-NEW YORK BRANCH CD 4.540000 12/ 1,192,306 1,192,306
LABORATORY CORPORATION OF AMERICA HOLDINGS 3.6% 02/01/2025 SR LIEN 119,643 119,643
L3HARRIS TECHNOLOGIES, INC. 3.832% 04/27/2025 SR LIEN 1,262,469 1,262,469
KOOKMIN BANK CO., LTD - NEW YORK BRANCH CD 01/29/2024 01/29/2025 SOFRRATE1 567,220 567,220
JUNIPER NETWORKS INC 1.2% 12/10/2025 SR LIEN 788,383 788,383
INTESA SANPAOLO S.P.A. 7.0% 11/21/2025 PVT 144A PVT SR LIEN 980,450 980,450
INTESA FUNDING LLC CP 0.000000 04/04/2025 598,330 598,330
INTESA FUNDING LLC CP 0.000000 01/09/2025 602,286 602,286
INTEL CORPORATION 3.7% 07/29/2025 SR LIEN 760,742 760,742
ING (U.S.) FUNDING LLC CP ISS 01/30/25 MAT 06/20/25 ING FUND 0.0% USD 279,039 279,039
IBERDROLA INTERNATIONAL B.V. 5.81% 03/15/2025 SR LIEN 227,089 227,089
HYUNDAI CAPITAL AMERICA 5.8% 06/26/2025 PVT 144A PVT QP SR LIEN 306,347 306,347
HYUNDAI CAPITAL AMERICA 2.65% 02/10/2025 PVT 144A PVT SR LIEN 1,377,743 1,377,743
HYUNDAI CAPITAL AMERICA 1.8% 10/15/2025 PVT 144A PVT SR LIEN 543,240 543,240
HSBC USA INC. CP 0.000000 08/27/2025 488,775 488,775
HSBC USA INC. CP 0.000000 06/27/2025 244,365 244,365
HSBC USA INC. 411,384 411,384
HSBC BANK USA, NATIONAL ASSOCIATION FRN 06/06/2025 SER CD SOFRRATE O/N +35.0 328,290 328,290
HSBC BANK PLC CP 06/06/2024 06/04/2025 SOFRRATE1DY +36.00BP CPN06/06/24 5. 282,202 282,202
HSBC BANK PLC CP 02/09/2024 02/07/2025 SOFRRATE1DY +33.00BP CPN02/12/24 0. 301,065 301,065
HEALTH CARE SERVICE CORPORATION 1.5% 06/01/2025 PVT 144A PVT SR LIEN 1,777,500 1,777,500
HANNOVER FUNDING COMPANY LLC CP 0.000000 06/06/2025 894,693 894,693
HALEON UK CAPITAL PLC 3.125% 03/24/2025 SER WI SR LIEN 251,113 251,113
GULFSTREAM NATURAL GAS 4.6% 09/15/2025 PVT 144A PVT SR LIEN 875,292 875,292
GOTHAM FUNDING CORPORATION CP 0.000000 01/24/2025 472,599 472,599
GOLDMAN SACHS ULTRA SHORT BOND ETF ETF 4,367,129 4,367,129
GENERAL MOTORS FINL CO 6.05% 10/10/2025 SR LIEN 665,454 665,454
GENERAL MOTORS FINL CO 4.0% 01/15/2025 SR LIEN 201,569 201,569
GENERAL MOTORS FINANCIAL COMPANY, INC. CP 0.000000 02/24/2025 248,225 248,225
GENERAL MOTORS FINANCIAL COMPANY, INC. 2.75% 06/20/2025 SR LIEN 247,760 247,760
GE HEALTHCARE TECH INC 5.6% 11/15/2025 SER WI SR LIEN 325,448 325,448
GATX CORPORATION 3.25% 03/30/2025 SR LIEN 882,231 882,231
FORTUNE BRANDS HOME & SE 4.0% 06/15/2025 SR LIEN 878,062 878,062
FLORIDA GAS TRANSMISSION 4.35% 07/15/2025 PVT 144A PVT SR LIEN 898,081 898,081
FFCB FRN 06/12/2025 OTHER NONE +7.00BP CPN 06/03/25-06/12/25 4.366153% 1,159,869 1,159,869
FEDERATION DES CAISSES DESJARDINS DU QUEBEC 2.05% 02/10/2025 PVT 144A PVT SR 967,930 967,930
EXELON GENERATION CO LLC 3.25% 06/01/2025 SR LIEN 205,221 205,221
EXELON CORPORATION 3.95% 06/15/2025 SER WI SR LIEN 862,747 862,747
EVERSOURCE ENERGY 0.8% 08/15/2025 SER Q SR LIEN 781,128 781,128
ERAC USA FINANCE LLC 3.8% 11/01/2025 PVT 144A PVT SR LIEN 134,928 134,928
EQUITABLE FINANCIAL LIFE 1.4% 07/07/2025 PVT 144A PVT 69,326 69,326
ENTERGY CORPORATION 271,661 271,661
ENERGY TRANSFER PARTNERS 4.75% 01/15/2026 USD SR LIEN 401,018 401,018
DOLLAR TREE INC 4.0% 05/15/2025 SR LIEN 474,664 474,664
DOLLAR GENERAL CORPORATION 4.15% 11/01/2025 SR LIEN 648,348 648,348
DNB BANK ASA CP 0.000000 10/09/2025 507,463 507,463
DEUTSCHE BANK AG-NEW YORK BRANCH FRN 11/21/2025 USD SER YCD SOFRRATE 1DY +39 190,069 190,069
DEUTSCHE BANK AG-NEW YORK BRANCH FRN 05/22/2025 SER YCD SOFRRATE O/N +40.00B 515,093 515,093
DEUTSCHE BANK AG-NEW YORK BRANCH CD 4.630000 11/06/2025 302,144 302,144
DANSKE BANK A/S CP 0.000000 05/30/2025 981,500 981,500
D.R. HORTON INC 2.6% 10/15/2025 SR LIEN 881,064 881,064
CVS HEALTH CORPORATION 3.875% 07/20/2025 SR LIEN 525,678 525,678
CREDIT SUISSE NEW YORK 7.95% 01/09/2025 SR LIEN 1,393,578 1,393,578
CREDIT INDUSTRIEL ET COMMERCIAL-NEW YORK BRANCH 507,108 507,108
CREDIT AGRICOLE SA-LONDON BRANCH 2.375% 01/22/2025 PVT 144A PVT SR LIEN 1,177,694 1,177,694
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK-NEW YORK BRANCH 358,480 358,480
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK CD 09/23/2024 04/03/2025 SOF 371,122 371,122
COMMONWEALTH BANK AUST FRN 03/14/2025 PVT 144A PVT SOFRRATE O/N +74.00BP SR 120,179 120,179
COLUMBIA PIPELINE GROUP, INC. 4.5% 06/01/2025 SER WI SR LIEN 875,980 875,980
COLONIAL PIPELINE COMPANY 3.75% 10/01/2025 PVT 144A PVT SR LIEN 355,343 355,343
CITIGROUP INC. HYBRID 01/25/2026 SR LIEN CPN 10/25/24-01/24/25 2.014% 168,085 168,085
CITIGROUP GLOBAL MARKETS INC. 332,934 332,934
CISCO SYSTEMS, INC. R CP ISS 02/03/25 MAT 02/07/25 CISCO R 0.0% USD 596,239 596,239
CISCO SYSTEMS, INC. CP 0.000000 01/31/2025 600,740 600,740
CDP FINANCIAL INC. 300,713 300,713
CANADIAN IMPERIAL BANK OF COMMERCE 3.3% 04/07/2025 SR LIEN 369,443 369,443
CANADIAN IMP BK COMM NY FRN 02/14/2025 SER YCD SOFRRATE O/N +25.00BP SR LIEN 357,856 357,856
CAISSE D'AMORTISSEMENT DE LA DETTE SOCIALE CP 0.000000 03/03/2025 783,025 783,025
CABOT TRAIL FUNDING LLC CP 0.000000 01/13/2025 249,602 249,602
BRAMBLES USA INC 4.125% 10/23/2025 PVT 144A PVT SR LIEN 875,631 875,631
BPCE FRN 01/14/2025 PVT 144A PVT SOFRRATE O/N +57.00BP SR LIEN CPN 10/15/24- 252,859 252,859
BPCE CP 0.000000 11/06/2025 342,614 342,614
BPCE 5.029% 01/15/2025 PVT 144A PVT SR LIEN 285,453 285,453
BPCE 2.375% 01/14/2025 PVT 144A PVT SR LIEN 885,876 885,876
BOFA SECURITIES, INC. CP 0.000000 11/13/2025 273,936 273,936
BOFA SECURITIES, INC. CP 0.000000 03/11/2025 468,877 468,877
BOFA SECURITIES, INC. 560,903 560,903
BOFA SECURITIES, INC. 297,541 297,541
BNP PARIBAS FRN 03/07/2025 SER YCD SOFRRATE 1DY +31.00BP SR LIEN CPN 03/05/2 210,720 210,720
BNP PARIBAS CD 4.390000 10/07/2025 182,673 182,673
BNP PARIBAS 3.375% 01/09/2025 PVT 144A PVT SR LIEN 203,156 203,156
BMW US CAPITAL, LLC FRN 04/01/2025 USD PVT 144A PVT SOFRINDX1DY +84.00BPSOF 197,428 197,428
BAYERISCHE LANDESBANK - NEW YORK BRANCH 630,173 630,173
BARCLAYS PLC 3.65% 03/16/2025 SR LIEN 1,080,614 1,080,614
BARCLAYS BANK PLC-NEW YORK BRANCH CD 05/09/2024 05/08/2025 SOFRRATE1DY +38 1,155,795 1,155,795
BARCLAYS BANK PLC CD 02/07/2024 02/07/2025 SOFRRATE1DY +38.00BP CPN06/12/2 540,202 540,202
BANK OF NOVA SCOTIA (THE) MTN 3.45% 04/11/2025 SR LIEN 210,768 210,768
BANK OF NOVA SCOTIA (THE) MTN 1.45% 01/10/2025 SR LIEN 135,808 135,808
BANK OF NOVA SCOTIA (THE) 2.2% 02/03/2025 SR LIEN 423,743 423,743
BANK OF NEW ZEALAND 2.0% 02/21/2025 PVT 144A PVT SR LIEN 250,834 250,834
BANK OF MONTREAL-CHICAGO BRANCH CD 10/09/2024 11/07/2025 SOFRRATE1DY +40.0 803,187 803,187
BANCO SANTANDER, S.A.-NEW YORK BRANCH CD 5.260000 03/03/2025 102,337 102,337
BANCO SANTANDER SA 5.147% 08/18/2025 SR LIEN 611,967 611,967
BANCO SANTANDER SA 3.496% 03/24/2025 SR LIEN 201,416 201,416
BANCO SANTANDER SA 2.746% 05/28/2025 SR LIEN 1,390,112 1,390,112
BANCO BILBAO VIZCAYA ARG 1.125% 09/18/2025 SR LIEN 195,660 195,660
B.A.T. INTERNATIONAL FINANCE P.L.C. 3.95% 06/15/2025 PVT 144A PVT SR LIEN 737,247 737,247
AVANGRID INC 3.2% 04/15/2025 SR LIEN 869,489 869,489
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED CP 0.000000 07/10/2025 702,430 702,430
APT PIPELINES LTD 4.2% 03/23/2025 PVT 144A PVT SR LIEN 120,059 120,059
AON PLC 3.875% 12/15/2025 SR LIEN 725,738 725,738
ANTHEM, INC. 2.375% 01/15/2025 SR LIEN 326,260 326,260
ALBION CAPITAL LLC CP 0.000000 02/18/2025 257,423 257,423
AIR LEASE CORPORATION MTN 2.3% 02/01/2025 SR LIEN 513,633 513,633
AFFILIATED MANAGERS GROUP, INC. 3.5% 08/01/2025 SR LIEN 892,177 892,177

TY 2024 InvestmentsGovtObligationsSch
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
US Government Securities - End of Year Book Value:

11,978,153
US Government Securities - End of Year Fair Market Value:

11,978,153
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2024 InvestmentsOtherSchedule2
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
HERITAGE FUND IV TCF FMV 960,761 960,761
WEST STREET CAPITAL PARTNERS IX OFFSHORE LP FMV 350,000 350,000
ALPINVEST SECONDARIES VIII ACC FMV 1,340,756 1,340,756

TY 2024 OtherIncomeSchedule2
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
FROM FLOW THROUGH 0 -50,820 0
OTHER INCOME -57,858   -57,858


TY 2024 OtherIncreasesSchedule
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Description Amount
UNREALIZED GAIN 1,408,597


TY 2024 OtherProfessionalFeesSchedule
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PROFESSIONAL FEES 5,762 4,091   1,671
INVESTMENT MANAGEMENT FEES 487,637 487,637   0


TY 2024 TaxesSchedule
Name:
TORREY COAST FOUNDATION
EIN:
85-4224393
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
2023 FEDERAL TAX EXPENSE 210,000 0   0