# EDGAR Filing Document

**Accession Number:** 0001005942
**File Stem:** 0002071691-26-007597
**Filing Date:** 2026-3
**Character Count:** 132226
**Document Hash:** 635c3830e42ed01566d0efbf4486d235
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-007597.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002071691-26-007597

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001005942

**ORGANIZATION NAME:**
- **EIN:** 043299786
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07513
- **FILM NUMBER:** 26806010

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6177601000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

## Series and Classes Contracts Data

### Putnam Ultra Short MAC Series (Series ID: S000080127)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000241800 | -            |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Putnam Funds Trust

- **b. Investment Company Act file number:** 811-07513

- **c. CIK number of Registrant:** 0001005942

- **d. LEI of Registrant:** 549300S9JYWEMKQCLW53

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Federal Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 617-292-1000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Putnam Ultra Short MAC Series

- **b. EDGAR series identifier (if any):** S000080127

- **c. LEI of Series:** 5493000EKV1S0SOBPZ21

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $38662414.27

**Total Liabilities:** $462064.41

**Net Assets:** $38200349.86

**Delayed Delivery Securities:** $210000.00

**Cash Not Reported:** $4871.09

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -285.51000000 | **1-Year:** -2698.43000000 | **5-Year:** -1053.71000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -9.63000000 | **1-Year:** -27.63000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241800 | 0.36%                | 0.41%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3269.35                 | $11824.78                                  |
| Month 2  | $2536.39                 | $2198.35                                   |
| Month 3  | $3970.59                 | $191.02                                    |

### Schedule of Portfolio Investments

| Name                                                      | Title                                                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Cooperatieve Rabobank UA                                  | Cooperatieve Rabobank UA                                                    | CUSIP: 21688AAZ5<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $251186.72    | 0.66%             | 2026-10-05      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                              | Royal Caribbean Cruises Ltd.                                                | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     28000 | PA      | $28029.91     | 0.07%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                      | Boston Properties LP                                                        | CUSIP: 10112RAX2<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    153000 | PA      | $153000.00    | 0.40%             | 2026-02-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                          | CUSIP: 13607L8D8<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $95779.66     | 0.25%             | 2027-06-28      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                                        | Banco Santander SA                                                          | CUSIP: 05964HBA2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |    200000 | PA      | $203227.88    | 0.53%             | 2028-03-14      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| BAE Systems plc                                           | BAE Systems plc                                                             | CUSIP: 05523RAH0<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202387.92    | 0.53%             | 2027-03-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                           | Jefferies Financial Group, Inc.                                             | CUSIP: 47233WKM0<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    160000 | PA      | $160001.92    | 0.42%             | 2026-08-11      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                          | Deutsche Bank AG                                                            | CUSIP: 25160PAP2<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    150000 | PA      | $151077.25    | 0.40%             | 2029-01-10      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                       | Intesa Sanpaolo SpA                                                         | CUSIP: 46115K5Z9<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | STIV             | CORP              | IT        |    250000 | PA      | $250384.13    | 0.66%             | 2026-08-19      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                       | Constellation Energy Generation LLC                                         | CUSIP: 210385AP5<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34971.02     | 0.09%             | 2028-01-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd.                              | Royal Caribbean Cruises Ltd.                                                | CUSIP: 780153BH4<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |     68000 | PA      | $67979.81     | 0.18%             | 2026-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 60700JFT7<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |     80000 | PA      | $80106.01     | 0.21%             | 2026-10-09      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group, Inc.                                  | UnitedHealth Group, Inc.                                                    | CUSIP: 91324PFE7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |     54000 | PA      | $54089.35     | 0.14%             | 2026-07-15      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                                            | CUSIP: 06368MJH8<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    136000 | PA      | $136496.82    | 0.36%             | 2029-01-27      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Loan Enhanced Trust                       | Volkswagen Auto Loan Enhanced Trust, Series 2024-1, Class A2A               | CUSIP: 92868RAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24046 | PA      | $24101.73     | 0.06%             | 2027-11-22      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Ryder System, Inc.                                        | Ryder System, Inc.                                                          | CUSIP: 78355BB43<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249869.30    | 0.65%             | 2026-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONEOK, Inc.                                               | ONEOK, Inc.                                                                 | CUSIP: 682680BH5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    400000 | PA      | $404211.50    | 1.06%             | 2026-11-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Loan Enhanced Trust                       | Volkswagen Auto Loan Enhanced Trust, Series 2025-1, Class A2B               | CUSIP: 92868MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24731 | PA      | $24749.76     | 0.06%             | 2028-01-20      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                                         | CUSIP: 83368RAK8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $199910.85    | 0.52%             | 2027-01-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Principal Life Global Funding II                          | Principal Life Global Funding II                                            | CUSIP: 74256LFA2<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27271.37     | 0.07%             | 2027-08-19      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                        | CUSIP: 46647PET9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106366.18    | 0.28%             | 2029-01-24      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                    | Extra Space Storage LP                                                      | CUSIP: 30227QB39<br>LEI: 549300YNKSKNZFR8UC42 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249895.53    | 0.65%             | 2026-02-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Truist Bank                                               | Truist Bank                                                                 | CUSIP: 89788JAF6<br>LEI: JJKC32MCHWDI71265Z06 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352012.56    | 0.92%             | 2028-07-24      | Fixed         | 4.42%                 | No            |                  2 | On Loan: No      |
| Penske Truck Leasing Co. LP                               | Penske Truck Leasing Co. LP                                                 | CUSIP: 70962BBL7<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249424.78    | 0.65%             | 2026-02-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley                                                              | CUSIP: 61747YFW0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101421.86    | 0.27%             | 2029-04-12      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                   | Hyundai Capital America                                                     | CUSIP: 44891ADE4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    107000 | PA      | $107603.33    | 0.28%             | 2027-06-24      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                       | Toyota Auto Receivables Owner Trust, Series 2023-B, Class A3                | CUSIP: 891941AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19468 | PA      | $19543.08     | 0.05%             | 2028-02-15      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                  | John Deere Capital Corp.                                                    | CUSIP: 24422EYG8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65281.82     | 0.17%             | 2028-09-11      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co.                                                           | CUSIP: 95000U3U5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    105000 | PA      | $106777.03    | 0.28%             | 2029-04-23      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust        | GM Financial Consumer Automobile Receivables Trust, Series 2024-1, Class A3 | CUSIP: 36268GAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19924 | PA      | $20057.55     | 0.05%             | 2028-12-18      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                        | BMW US Capital LLC                                                          | CUSIP: 05565ECT0<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106657.64    | 0.28%             | 2027-08-13      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc.                                                             | CUSIP: 17327CAX1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120287.49    | 0.31%             | 2029-03-04      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                             | CUSIP: 38145GAP5<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40037.26     | 0.10%             | 2029-01-21      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Plains All American Pipeline LP                           | Plains All American Pipeline LP                                             | CUSIP: 72650XBC2<br>LEI: 5521FA2ITF25TVH63740 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249657.53    | 0.65%             | 2026-02-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                         | Philip Morris International, Inc.                                           | CUSIP: 718172EB1<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90342.76     | 0.24%             | 2028-10-27      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| Chevron USA, Inc.                                         | Chevron USA, Inc.                                                           | CUSIP: 166756BC9<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50212.08     | 0.13%             | 2028-02-26      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                     | NextEra Energy Capital Holdings, Inc.                                       | CUSIP: 65339KDG2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20360.75     | 0.05%             | 2028-02-04      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                       | Bank of New York Mellon Corp. (The)                                         | CUSIP: 06406RCD7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55178.27     | 0.14%             | 2028-06-09      | Floating      | 4.36%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                       | Societe Generale SA                                                         | CUSIP: 83368RBZ4<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $202392.45    | 0.53%             | 2027-02-19      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| O'Reilly Automotive, Inc.                                 | O'Reilly Automotive, Inc.                                                   | CUSIP: 67117HBD2<br>LEI: 549300K2RLMQL149Q332 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249629.38    | 0.65%             | 2026-02-13      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                       | Macquarie Bank Ltd.                                                         | CUSIP: 55608PBQ6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |    226000 | PA      | $229039.28    | 0.60%             | 2026-12-07      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                        | BMW US Capital LLC                                                          | CUSIP: 05565ECX1<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100748.19    | 0.26%             | 2028-03-21      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                 | Bank of Nova Scotia (The)                                                   | CUSIP: 06418GAX5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $75044.41     | 0.20%             | 2030-02-02      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Protective Life Global Funding                            | Protective Life Global Funding                                              | CUSIP: 743672AE7<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150137.80    | 0.39%             | 2026-04-10      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| ERAC USA Finance LLC                                      | ERAC USA Finance LLC                                                        | CUSIP: 26882SBH8<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249513.38    | 0.65%             | 2026-02-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Nissan Auto Receivables Owner Trust                       | Nissan Auto Receivables Owner Trust, Series 2025-B, Class A2A               | CUSIP: 65490DAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     80000 | PA      | $80166.74     | 0.21%             | 2028-07-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CNO Global Funding                                        | CNO Global Funding                                                          | CUSIP: 18977W2A7<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147744.35    | 0.39%             | 2026-10-07      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                  | PNC Financial Services Group, Inc. (The)                                    | CUSIP: 693475CG8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90147.99     | 0.24%             | 2029-01-26      | Fixed         | 4.08%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                              | American Honda Finance Corp.                                                | CUSIP: 02665WFW6<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100244.97    | 0.26%             | 2028-03-03      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| DTE Energy Co.                                            | DTE Energy Co.                                                              | CUSIP: 233331BM8<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55703.60     | 0.15%             | 2027-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                   | CUSIP: 00774MBT1<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $149510.31    | 0.39%             | 2029-02-28      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Hyatt Hotels Corp.                                        | Hyatt Hotels Corp.                                                          | CUSIP: 448579AQ5<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |    132000 | PA      | $134085.86    | 0.35%             | 2027-01-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                             | Netflix, Inc.                                                               | CUSIP: 64110LAN6<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15055.88     | 0.04%             | 2026-11-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                       | Bank of New York Mellon Corp. (The)                                         | CUSIP: 06406RCK1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    175000 | PA      | $174987.73    | 0.46%             | 2030-01-22      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| Mondelez International, Inc.                              | Mondelez International, Inc.                                                | CUSIP: 609207BF1<br>LEI: 549300DV9GIB88LZ5P30 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95505.57     | 0.25%             | 2028-05-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos., Inc.                               | Marsh & McLennan Cos., Inc.                                                 | CUSIP: 571748BZ4<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40197.03     | 0.11%             | 2027-11-08      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                        | CUSIP: 46647PEF9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55320.46     | 0.14%             | 2028-04-22      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal, Series J                                                  | CUSIP: 06368MC69<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |     65000 | PA      | $65092.93     | 0.17%             | 2027-12-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                     | NextEra Energy Capital Holdings, Inc.                                       | CUSIP: 65339KCL2<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15176.11     | 0.04%             | 2027-09-01      | Fixed         | 4.68%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                          | Boeing Co. (The)                                                            | CUSIP: 097023CU7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60647.31     | 0.16%             | 2027-05-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Meta Platforms, Inc.                                      | Meta Platforms, Inc.                                                        | CUSIP: 30303M8G0<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17969.77     | 0.05%             | 2027-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                           | Danske Bank A/S                                                             | CUSIP: 23636AAR2<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    200000 | PA      | $201293.76    | 0.53%             | 2028-06-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                       | Georgia-Pacific LLC                                                         | CUSIP: 37331NAN1<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |     18000 | PA      | $17855.49     | 0.05%             | 2026-05-15      | Fixed         | 0.95%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                                            | CUSIP: 06368L8M1<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    122000 | PA      | $122322.26    | 0.32%             | 2027-09-10      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.                      | Caterpillar Financial Services Corp.                                        | CUSIP: 14913UBE9<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    112000 | PA      | $112521.83    | 0.29%             | 2028-11-14      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                        | CUSIP: 025816EJ4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95601.90     | 0.25%             | 2029-07-20      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                        | CUSIP: 46647PEE2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25475.94     | 0.07%             | 2028-04-22      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| American Express Credit Account Master Trust              | American Express Credit Account Master Trust, Series 2023-3, Class A        | CUSIP: 02582JKD1<br>LEI: 549300Y4SA5G3GIJTP18 | Long             | ABS-O            | CORP              | US        |    110000 | PA      | $110986.95    | 0.29%             | 2028-09-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                     | Athene Global Funding                                                       | CUSIP: 04685A3X7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101719.31    | 0.27%             | 2027-07-09      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                     | NextEra Energy Capital Holdings, Inc.                                       | CUSIP: 65339KAT7<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19908.75     | 0.05%             | 2027-05-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                               | Nationwide Building Society                                                 | CUSIP: 63861VAJ6<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203468.05    | 0.53%             | 2027-10-18      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley                                                              | CUSIP: 61747YFN0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50272.36     | 0.13%             | 2028-04-13      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                     | Bank of America Corp.                                                       | CUSIP: 06051GKH1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $502854.64    | 1.32%             | 2028-02-04      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                            | Broadcom, Inc.                                                              | CUSIP: 11135FCE9<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     38000 | PA      | $38744.94     | 0.10%             | 2028-04-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                        | BMW US Capital LLC                                                          | CUSIP: 05565ECN3<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     41000 | PA      | $41127.05     | 0.11%             | 2026-08-13      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Intercontinental Exchange, Inc.                                             | CUSIP: 45865VAA8<br>LEI: 5493000F4ZO33MV32P92 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35037.02     | 0.09%             | 2028-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| USB Auto Owner Trust                                      | USB Auto Owner Trust, Series 2025-1A, Class A2                              | CUSIP: 90367VAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     26996 | PA      | $27051.95     | 0.07%             | 2028-06-15      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                              | New York Life Global Funding                                                | CUSIP: 64953BBL1<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106444.61    | 0.28%             | 2027-04-02      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                 | Toyota Motor Credit Corp.                                                   | CUSIP: 89236TMR3<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49029.29     | 0.13%             | 2026-04-10      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                     | Athene Global Funding                                                       | CUSIP: 04685A4M0<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    102000 | PA      | $102502.61    | 0.27%             | 2028-03-06      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                              | CaixaBank SA                                                                | CUSIP: 12803RAK0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    250000 | PA      | $252687.76    | 0.66%             | 2029-07-03      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                        | Energy Transfer LP                                                          | CUSIP: 86765BAT6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49993.79     | 0.13%             | 2026-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Illumina, Inc.                                            | Illumina, Inc.                                                              | CUSIP: 452327AQ2<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |     54000 | PA      | $54143.71     | 0.14%             | 2026-09-09      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                               | Toronto-Dominion Bank (The)                                                 | CUSIP: 89115A2U5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     40000 | PA      | $41451.70     | 0.11%             | 2028-07-17      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                          | Deutsche Bank AG                                                            | CUSIP: 25160PAN7<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    150000 | PA      | $152045.44    | 0.40%             | 2027-07-13      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                          | Deutsche Bank AG                                                            | CUSIP: 25160PAH0<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    150000 | PA      | $147906.94    | 0.39%             | 2028-01-07      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                 | Bank of Nova Scotia (The)                                                   | CUSIP: 06418GAM9<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    109000 | PA      | $109589.83    | 0.29%             | 2028-09-08      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Macquarie Bank Ltd.                                       | Macquarie Bank Ltd.                                                         | CUSIP: 55608PCA0<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |    135000 | PA      | $135116.67    | 0.35%             | 2028-02-03      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA                        | Banco Bilbao Vizcaya Argentaria SA                                          | CUSIP: 05946KAL5<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |    400000 | PA      | $413817.55    | 1.08%             | 2028-09-14      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                        | Honda Auto Receivables Owner Trust, Series 2024-1, Class A3                 | CUSIP: 437918AC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     23465 | PA      | $23666.99     | 0.06%             | 2028-08-15      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc.                                                             | CUSIP: 172967MZ1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     59000 | PA      | $59069.40     | 0.15%             | 2027-06-09      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                            | Alimentation Couche-Tard, Inc.                                              | CUSIP: 01626VB28<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |    250000 | PA      | $249919.85    | 0.65%             | 2026-02-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                        | Credit Agricole SA                                                          | CUSIP: 22535WAM9<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $251811.51    | 0.66%             | 2028-09-11      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Westpac Banking Corp.                                     | Westpac Banking Corp.                                                       | CUSIP: 961214FX6<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |    133000 | PA      | $133264.19    | 0.35%             | 2026-10-20      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                          | CUSIP: 13607LWU3<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |     45000 | PA      | $45286.85     | 0.12%             | 2026-10-02      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Extra Space Storage LP                                    | Extra Space Storage LP                                                      | CUSIP: 30227QB54<br>LEI: 549300YNKSKNZFR8UC42 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249843.03    | 0.65%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Enel Finance America LLC                                  | Enel Finance America LLC                                                    | CUSIP: 29279HB61<br>LEI: 549300EGNLVUJX1DEC60 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249815.28    | 0.65%             | 2026-02-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Protective Life Global Funding                            | Protective Life Global Funding                                              | CUSIP: 74368CBZ6<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151103.69    | 0.40%             | 2027-09-13      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                           | Citigroup, Inc.                                                             | CUSIP: 172967PY1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    260000 | PA      | $261738.35    | 0.69%             | 2028-05-07      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                               | Capital One Financial Corp.                                                 | CUSIP: 14040HBN4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99822.35     | 0.26%             | 2027-03-09      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UDR, Inc.                                                 | UDR, Inc.                                                                   | CUSIP: 90352QBH9<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249523.38    | 0.65%             | 2026-02-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Australia & New Zealand Banking Group Ltd.                | Australia & New Zealand Banking Group Ltd.                                  | CUSIP: 05252ADL2<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |    200000 | PA      | $201085.61    | 0.53%             | 2027-07-16      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Bank of New York Mellon Corp. (The)                       | Bank of New York Mellon Corp. (The)                                         | CUSIP: 06406RCH8<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35269.66     | 0.09%             | 2028-06-09      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                              | Oracle Corp.                                                                | CUSIP: 68389XCC7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64772.36     | 0.17%             | 2026-03-25      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| PNC Bank NA                                               | PNC Bank NA                                                                 | CUSIP: 69353RFZ6<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251769.52    | 0.66%             | 2028-07-21      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                 | Bank of Nova Scotia (The)                                                   | CUSIP: 06418GAG2<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    111000 | PA      | $111529.57    | 0.29%             | 2027-06-04      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Wisconsin Electric Power Co.                              | Wisconsin Electric Power Co.                                                | CUSIP: 976656CV8<br>LEI: AENKIFMULUAWOUU8Q584 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29983.68     | 0.08%             | 2029-03-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                        | CUSIP: 025816DX4<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     61000 | PA      | $61313.66     | 0.16%             | 2028-07-26      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                              | Barclays plc                                                                | CUSIP: 06738ECF0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200914.25    | 0.53%             | 2027-05-09      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                              | Oracle Corp.                                                                | CUSIP: 68389XCX1<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     85000 | PA      | $83621.45     | 0.22%             | 2028-08-03      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| ANZ New Zealand Int'l Ltd.                                | ANZ New Zealand Int'l Ltd.                                                  | CUSIP: 00182EBW8<br>LEI: 213800VD256NU2D97H12 | Long             | DBT              | CORP              | NZ        |    200000 | PA      | $200268.01    | 0.52%             | 2029-01-22      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| CNO Global Funding                                        | CNO Global Funding                                                          | CUSIP: 18977W2G4<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32415.00     | 0.08%             | 2027-12-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BAT International Finance plc                             | BAT International Finance plc                                               | CUSIP: 05530QAN0<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |     49000 | PA      | $48838.13     | 0.13%             | 2026-03-25      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| National Bank of Canada                                   | National Bank of Canada                                                     | CUSIP: 63307A3A1<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $352272.13    | 0.92%             | 2027-07-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Volkswagen Group of America Finance LLC                   | Volkswagen Group of America Finance LLC                                     | CUSIP: 928668CK6<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    400000 | PA      | $401837.08    | 1.05%             | 2026-08-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Cargill, Inc.                                             | Cargill, Inc.                                                               | CUSIP: 141781CC6<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90220.25     | 0.24%             | 2028-02-11      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| UDR, Inc.                                                 | UDR, Inc.                                                                   | CUSIP: 90352QBB2<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249684.20    | 0.65%             | 2026-02-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                             | Owens Corning                                                               | CUSIP: 690742AF8<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94657.58     | 0.25%             | 2026-08-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Mitsubishi UFJ Financial Group, Inc.                      | Mitsubishi UFJ Financial Group, Inc.                                        | CUSIP: 606822CL6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $203025.76    | 0.53%             | 2028-07-20      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Bank of Montreal                                          | Bank of Montreal                                                            | CUSIP: 06368MXW9<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $120231.31    | 0.31%             | 2028-09-22      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                        | General Motors Financial Co., Inc.                                          | CUSIP: 37045XEW2<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55129.00     | 0.14%             | 2027-07-15      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                           | Intercontinental Exchange, Inc.                                             | CUSIP: 45856XB97<br>LEI: 5493000F4ZO33MV32P92 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249730.79    | 0.65%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Phillips 66                                               | Phillips 66                                                                 | CUSIP: 71855BBC5<br>LEI: 5493005JBO5YSIGK1814 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249653.30    | 0.65%             | 2026-02-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                            | Hyundai Auto Receivables Trust, Series 2023-B, Class A3                     | CUSIP: 44933XAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     65125 | PA      | $65564.89     | 0.17%             | 2028-04-17      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                               | Capital One Financial Corp.                                                 | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    260000 | PA      | $272191.90    | 0.71%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                     | Targa Resources Corp.                                                       | CUSIP: 87613LB24<br>LEI: 5493003QENHHS261UR94 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249919.83    | 0.65%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                        | Honda Auto Receivables Owner Trust, Series 2023-4, Class A3                 | CUSIP: 438123AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     37284 | PA      | $37686.24     | 0.10%             | 2028-06-21      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                              | American Honda Finance Corp.                                                | CUSIP: 02665WGH8<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65313.76     | 0.17%             | 2027-08-13      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                          | CUSIP: 13607PHT4<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $135433.13    | 0.35%             | 2027-09-11      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                     | Sumitomo Mitsui Financial Group, Inc.                                       | CUSIP: 86562MCR9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $206068.95    | 0.54%             | 2028-01-13      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Arthur J Gallagher & Co.                                  | Arthur J Gallagher & Co.                                                    | CUSIP: 04316JAK5<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69808.78     | 0.18%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                           | Eli Lilly & Co.                                                             | CUSIP: 532457DA3<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    105000 | PA      | $105748.78    | 0.28%             | 2028-10-15      | Floating      | 4.19%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                       | Toyota Auto Receivables Owner Trust, Series 2025-D, Class A2B               | CUSIP: 89231GAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    112000 | PA      | $112076.24    | 0.29%             | 2028-08-15      | Floating      | 4.03%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                        | State Street Corp.                                                          | CUSIP: 857477CE1<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    164000 | PA      | $164420.74    | 0.43%             | 2026-08-03      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Banque Federative du Credit Mutuel SA                     | Banque Federative du Credit Mutuel SA                                       | CUSIP: 06675FBA4<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |    500000 | PA      | $504499.73    | 1.32%             | 2026-07-13      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US Bank NA                                                | US Bank NA                                                                  | CUSIP: 90331HPQ0<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300249.02    | 0.79%             | 2027-10-22      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Essex Portfolio LP                                        | Essex Portfolio LP                                                          | CUSIP: 29717PAQ0<br>LEI: 5493003GN3O58H286O74 | Long             | DBT              | CORP              | US        |     21000 | PA      | $20972.80     | 0.05%             | 2026-04-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Capital One Multi-Asset Execution Trust                   | Capital One Multi-Asset Execution Trust, Series 2019-A3, Class A3           | CUSIP: 14041NFV8<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $148611.92    | 0.39%             | 2028-08-15      | Fixed         | 2.06%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                    | Goldman Sachs Bank USA                                                      | CUSIP: 38151LAG5<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301310.87    | 0.79%             | 2027-05-21      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                              | Barclays plc                                                                | CUSIP: 06738ECJ2<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $202892.44    | 0.53%             | 2027-09-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BMW US Capital LLC                                        | BMW US Capital LLC                                                          | CUSIP: 05565ECU7<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |     64000 | PA      | $64519.97     | 0.17%             | 2027-03-19      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                     | Athene Global Funding                                                       | CUSIP: 04685A4T5<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50143.53     | 0.13%             | 2028-09-18      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Mutual of Omaha Cos. Global Funding                       | Mutual of Omaha Cos. Global Funding                                         | CUSIP: 62829D2A7<br>LEI: 635400AL5J3F1ZPTAN95 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60498.52     | 0.16%             | 2026-07-27      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                                        | CUSIP: 78016HZY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    135000 | PA      | $135186.82    | 0.35%             | 2027-07-23      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 60700JDE2<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |     70000 | PA      | $70027.70     | 0.18%             | 2026-05-01      | Floating      | 4.16%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp. (The)                                | Charles Schwab Corp. (The)                                                  | CUSIP: 8085A3E84<br>LEI: 549300VSGCJ7E698NM85 | Long             | STIV             | CORP              | US        |    250000 | PA      | $247486.25    | 0.65%             | 2026-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                  | PNC Financial Services Group, Inc. (The)                                    | CUSIP: 693475CH6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80142.63     | 0.21%             | 2029-01-26      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| Broadcom, Inc.                                            | Broadcom, Inc.                                                              | CUSIP: 11135FBZ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23415.06     | 0.06%             | 2027-07-12      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                   | Hyundai Capital America                                                     | CUSIP: 44891ADJ3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     68000 | PA      | $68320.43     | 0.18%             | 2027-09-24      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard, Inc.                            | Alimentation Couche-Tard, Inc.                                              | CUSIP: 01626PAW6<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |     60000 | PA      | $60085.53     | 0.16%             | 2028-09-29      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                        | General Motors Financial Co., Inc.                                          | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     57000 | PA      | $57150.55     | 0.15%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Group, Inc.                     | Sumitomo Mitsui Financial Group, Inc.                                       | CUSIP: 86562MEH9<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $200253.50    | 0.52%             | 2029-01-15      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                              | National Australia Bank Ltd.                                                | CUSIP: 632525CN9<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $250253.09    | 0.66%             | 2028-12-13      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                        | State Street Corp.                                                          | CUSIP: 857477CQ4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45231.11     | 0.12%             | 2027-10-22      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                          | ABN AMRO Bank NV                                                            | CUSIP: 00084DBD1<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $203380.87    | 0.53%             | 2028-12-03      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                         | Philip Morris International, Inc.                                           | CUSIP: 718172DS5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    139000 | PA      | $139899.99    | 0.37%             | 2028-04-28      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| Georgia Power Co.                                         | Georgia Power Co.                                                           | CUSIP: 373334KZ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35009.86     | 0.09%             | 2026-09-15      | Floating      | 3.96%                 | No            |                  2 | On Loan: No      |
| Camden Property Trust                                     | Camden Property Trust                                                       | CUSIP: 133131BA9<br>LEI: 5493002MYX22OHYJBD89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101289.53    | 0.27%             | 2026-11-03      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Jefferies Financial Group, Inc.                           | Jefferies Financial Group, Inc.                                             | CUSIP: 47233WKS7<br>LEI: 549300HOF34RGOJ5YL07 | Long             | DBT              | CORP              | US        |    110000 | PA      | $110319.13    | 0.29%             | 2026-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                    | Home Depot, Inc. (The)                                                      | CUSIP: 437076DH2<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |      5000 | PA      | $5004.64      | 0.01%             | 2028-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corp.                                  | John Deere Capital Corp.                                                    | CUSIP: 24422EXS3<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    114000 | PA      | $114539.97    | 0.30%             | 2027-06-11      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                             | CUSIP: 38141GC85<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60519.67     | 0.16%             | 2028-04-23      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Corebridge Global Funding                                 | Corebridge Global Funding                                                   | CUSIP: 00138CAY4<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |     65000 | PA      | $65365.35     | 0.17%             | 2026-06-24      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Principal Life Global Funding II                          | Principal Life Global Funding II                                            | CUSIP: 7425APAC9<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50067.71     | 0.13%             | 2028-08-18      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                     | Dominion Energy, Inc.                                                       | CUSIP: 25746UDY2<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30388.18     | 0.08%             | 2028-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada, Series 1                                              | CUSIP: 78017DAP3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    112000 | PA      | $112131.57    | 0.29%             | 2028-11-03      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia                            | Commonwealth Bank of Australia                                              | CUSIP: 2027A0KV0<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |    104000 | PA      | $104359.53    | 0.27%             | 2026-11-27      | Floating      | 4.12%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                    | Goldman Sachs Bank USA                                                      | CUSIP: 38151LAH3<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20024.89     | 0.05%             | 2027-05-21      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                             | CUSIP: 38141GD76<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80034.55     | 0.21%             | 2029-01-21      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                        | General Motors Financial Co., Inc.                                          | CUSIP: 37046UE56<br>LEI: 5493008B6JBRUJ90QL97 | Long             | STIV             | CORP              | US        |    250000 | PA      | $247391.90    | 0.65%             | 2026-05-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                               | Capital One Financial Corp.                                                 | CUSIP: 14040HDB8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $102162.03    | 0.27%             | 2027-10-29      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC                   | Daimler Truck Finance North America LLC                                     | CUSIP: 233853BB5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150211.23    | 0.39%             | 2028-01-13      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Veralto Corp.                                             | Veralto Corp.                                                               | CUSIP: 92338CAB9<br>LEI: 635400FJE6GSOJUSNY27 | Long             | DBT              | CORP              | US        |     86000 | PA      | $86788.66     | 0.23%             | 2026-09-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                     | Targa Resources Corp.                                                       | CUSIP: 87613LBB4<br>LEI: 5493003QENHHS261UR94 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249678.78    | 0.65%             | 2026-02-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Constellation Energy Generation LLC                       | Constellation Energy Generation LLC                                         | CUSIP: 210385AN0<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40079.23     | 0.10%             | 2028-01-08      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                          | CVS Health Corp.                                                            | CUSIP: 126650CU2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84691.28     | 0.22%             | 2026-06-01      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                         | Philip Morris International, Inc.                                           | CUSIP: 718172DM8<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70698.39     | 0.19%             | 2027-11-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| National Australia Bank Ltd.                              | National Australia Bank Ltd.                                                | CUSIP: 632525BQ3<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |    250000 | PA      | $251035.95    | 0.66%             | 2027-06-11      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| American Honda Finance Corp.                              | American Honda Finance Corp.                                                | CUSIP: 02665WGA3<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50107.90     | 0.13%             | 2026-12-11      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| Phillips 66 Co.                                           | Phillips 66 Co.                                                             | CUSIP: 718547AF9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34922.28     | 0.09%             | 2026-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                  | Lloyds Banking Group plc                                                    | CUSIP: 53944YBC6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $203679.24    | 0.53%             | 2028-11-26      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                      | American Tower Corp.                                                        | CUSIP: 03027XAK6<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29881.21     | 0.08%             | 2026-10-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Ameren Corp.                                              | Ameren Corp.                                                                | CUSIP: 023608AP7<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    100000 | PA      | $101321.49    | 0.27%             | 2026-12-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                   | Hyundai Capital America                                                     | CUSIP: 44891ADP9<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     30000 | PA      | $30273.95     | 0.08%             | 2027-03-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                                       | Intesa Sanpaolo SpA                                                         | CUSIP: 46115K6X3<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | STIV             | CORP              | IT        |    250000 | PA      | $250060.98    | 0.65%             | 2027-01-14      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| ERAC USA Finance LLC                                      | ERAC USA Finance LLC                                                        | CUSIP: 26882SBJ4<br>LEI: LTKX5ODQW6Z7BQ2K1V47 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249485.38    | 0.65%             | 2026-02-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                 | Toyota Motor Credit Corp.                                                   | CUSIP: 89236TML6<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |     27000 | PA      | $27080.28     | 0.07%             | 2026-08-07      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                                                | CUSIP: 225401AC2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    295000 | PA      | $295682.53    | 0.77%             | 2028-01-09      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Santander UK Group Holdings plc                           | Santander UK Group Holdings plc                                             | CUSIP: 80281LAT2<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $208837.12    | 0.55%             | 2029-01-10      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                            | Amphenol Corp.                                                              | CUSIP: 032095AW1<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54987.34     | 0.14%             | 2027-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Boston Properties LP                                      | Boston Properties LP                                                        | CUSIP: 10112RAY0<br>LEI: BVHHEFJI6SHNOKQT2572 | Long             | DBT              | CORP              | US        |    102000 | PA      | $101103.41    | 0.26%             | 2026-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                            | Morgan Stanley, Series I                                                    | CUSIP: 61748UAJ1<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    115000 | PA      | $115633.36    | 0.30%             | 2029-10-18      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receivables Trust                  | Capital One Prime Auto Receivables Trust, Series 2025-1, Class A2B          | CUSIP: 14043YAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    187000 | PA      | $187116.58    | 0.49%             | 2029-01-16      | Floating      | 4.04%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co.                                           | Eli Lilly & Co.                                                             | CUSIP: 532457DB1<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40306.58     | 0.11%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Bunge Ltd. Finance Corp.                                  | Bunge Ltd. Finance Corp.                                                    | CUSIP: 12057BB92<br>LEI: 549300QHC068L40NNM71 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249735.30    | 0.65%             | 2026-02-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                              | Marriott International, Inc.                                                | CUSIP: 57163UCD6<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | STIV             | CORP              | US        |    250000 | PA      | $248873.58    | 0.65%             | 2026-03-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                                      | Royal Bank of Canada                                                        | CUSIP: 78017DAB4<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |    102000 | PA      | $102242.09    | 0.27%             | 2029-01-24      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Credit Corp.                                 | Toyota Motor Credit Corp.                                                   | CUSIP: 89236TNZ4<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100608.96    | 0.26%             | 2027-11-18      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                          | Boeing Co. (The)                                                            | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129977.93    | 0.34%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Putnam Short Term Investment Fund                         | Putnam Short Term Investment Fund, Class P                                  | CUSIP: 74676P664<br>LEI: 549300S9JYWEMKQCLW53 | Long             |  | RF                | US        |    196602 | NS      | $196602.03    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies, Inc.                          | GE HealthCare Technologies, Inc.                                            | CUSIP: 36266GAD9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20065.52     | 0.05%             | 2028-12-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Kroger Co. (The)                                          | Kroger Co. (The)                                                            | CUSIP: 501044DE8<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |     30000 | PA      | $29737.27     | 0.08%             | 2026-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                              | UBS Group AG                                                                | CUSIP: 225401BC1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $203967.78    | 0.53%             | 2027-12-22      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings, Inc.                     | NextEra Energy Capital Holdings, Inc.                                       | CUSIP: 65339KDH0<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50305.61     | 0.13%             | 2028-02-04      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Novartis Capital Corp.                                    | Novartis Capital Corp.                                                      | CUSIP: 66989HBD9<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70401.82     | 0.18%             | 2028-11-05      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                              | New York Life Global Funding                                                | CUSIP: 64953BCA4<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60308.59     | 0.16%             | 2028-07-25      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| Owens Corning                                             | Owens Corning                                                               | CUSIP: 690742AN1<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |     46000 | PA      | $46904.31     | 0.12%             | 2027-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Danske Bank A/S                                           | Danske Bank A/S                                                             | CUSIP: 23636ABC4<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |    200000 | PA      | $200616.72    | 0.53%             | 2028-04-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Merck & Co., Inc.                                         | Merck & Co., Inc.                                                           | CUSIP: 58933YBV6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80271.45     | 0.21%             | 2029-03-15      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                           | Sumitomo Mitsui Trust Bank Ltd.                                             | CUSIP: 86564XC93<br>LEI: 5493006GGLR4BTEL8O61 | Long             | STIV             | CORP              | JP        |    250000 | PA      | $249018.20    | 0.65%             | 2026-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AEGON Funding Co. LLC                                     | AEGON Funding Co. LLC                                                       | CUSIP: 00775VAA2<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | DBT              | CORP              | US        |    246000 | PA      | $249661.93    | 0.65%             | 2027-04-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trust                           | Citizens Auto Receivables Trust, Series 2024-1, Class A3                    | CUSIP: 17331QAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60982 | PA      | $61300.67     | 0.16%             | 2028-04-17      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| Cooperatieve Rabobank UA                                  | Cooperatieve Rabobank UA                                                    | CUSIP: 74977RDN1<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $249015.31    | 0.65%             | 2028-04-06      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Metropolitan Life Global Funding I                        | Metropolitan Life Global Funding I                                          | CUSIP: 592179KM6<br>LEI: 635400MMSOCXNNNZDZ82 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150608.24    | 0.39%             | 2027-06-11      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.                      | Caterpillar Financial Services Corp.                                        | CUSIP: 14913UAT7<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    106000 | PA      | $106562.95    | 0.28%             | 2027-11-15      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Georgia-Pacific LLC                                       | Georgia-Pacific LLC                                                         | CUSIP: 37331NAR2<br>LEI: L2EVHWFHVAQK72TMH265 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20217.27     | 0.05%             | 2028-06-30      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Global Funding                        | Northwestern Mutual Global Funding                                          | CUSIP: 66815L2Y4<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60170.41     | 0.16%             | 2028-08-25      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| AvalonBay Communities, Inc.                               | AvalonBay Communities, Inc.                                                 | CUSIP: 05348BB53<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249841.90    | 0.65%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital One Prime Auto Receivables Trust                  | Capital One Prime Auto Receivables Trust, Series 2022-1, Class A3           | CUSIP: 14043QAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7077 | PA      | $7074.30      | 0.02%             | 2027-04-15      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| Chevron USA, Inc.                                         | Chevron USA, Inc.                                                           | CUSIP: 166756BM7<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55407.34     | 0.15%             | 2028-08-13      | Floating      | 4.24%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                   | BPCE SA                                                                     | CUSIP: 05571AAR6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $265021.39    | 0.69%             | 2029-10-19      | Fixed         | 6.71%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                              | Marriott International, Inc., Series X                                      | CUSIP: 571903AY9<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     40000 | PA      | $39978.66     | 0.10%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PayPal Holdings, Inc.                                     | PayPal Holdings, Inc.                                                       | CUSIP: 70450YAR4<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60199.66     | 0.16%             | 2028-03-06      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                           | Goldman Sachs Group, Inc. (The)                                             | CUSIP: 38141GD50<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95263.30     | 0.25%             | 2029-10-21      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Protective Life Global Funding                            | Protective Life Global Funding                                              | CUSIP: 74368CCD4<br>LEI: 635400EVYITCJYWL2I50 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90032.60     | 0.24%             | 2029-01-15      | Fixed         | 4.16%                 | No            |                  2 | On Loan: No      |
| Target Corp.                                              | Target Corp.                                                                | CUSIP: 87612EBU9<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | DBT              | CORP              | US        |     48000 | PA      | $48680.17     | 0.13%             | 2028-06-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Bank NA                                    | Morgan Stanley Bank NA                                                      | CUSIP: 61690U8D5<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251808.21    | 0.66%             | 2028-07-14      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Daimler Truck Finance North America LLC                   | Daimler Truck Finance North America LLC                                     | CUSIP: 233853AV2<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151706.48    | 0.40%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                              | Marriott International, Inc.                                                | CUSIP: 571903BV4<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75274.07     | 0.20%             | 2027-07-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                         | Enterprise Products Operating LLC                                           | CUSIP: 29379VCJ0<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35309.72     | 0.09%             | 2028-06-20      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Volkswagen Auto Loan Enhanced Trust                       | Volkswagen Auto Loan Enhanced Trust, Series 2025-2, Class A2B               | CUSIP: 92869QAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     57000 | PA      | $57068.16     | 0.15%             | 2028-08-21      | Floating      | 4.07%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                | AT&T, Inc.                                                                  | CUSIP: 00206RDQ2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    113000 | PA      | $113348.89    | 0.30%             | 2027-03-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Northwestern Mutual Global Funding                        | Northwestern Mutual Global Funding                                          | CUSIP: 66815L2R9<br>LEI: 635400LZXFVELZDVP257 | Long             | DBT              | CORP              | US        |     85000 | PA      | $86143.44     | 0.23%             | 2027-03-25      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                          | CVS Health Corp.                                                            | CUSIP: 126650DF4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    130000 | PA      | $129305.19    | 0.34%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                         | Lowe's Cos., Inc.                                                           | CUSIP: 548661ET0<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     74000 | PA      | $74210.19     | 0.19%             | 2027-10-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                                              | CUSIP: 09659W2C7<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    221000 | PA      | $218845.36    | 0.57%             | 2027-11-16      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                              | Ford Credit Auto Owner Trust, Series 2022-C, Class A4                       | CUSIP: 34535AAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    152340 | PA      | $152610.06    | 0.40%             | 2027-12-15      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Bank of Nova Scotia (The)                                 | Bank of Nova Scotia (The), Series I                                         | CUSIP: 06418GAT4<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100105.47    | 0.26%             | 2028-09-15      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                                        | Credit Agricole SA                                                          | CUSIP: 22535WAL1<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |    250000 | PA      | $251946.41    | 0.66%             | 2028-09-11      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CaixaBank SA                                              | CaixaBank SA                                                                | CUSIP: 12803RAB0<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |    250000 | PA      | $253949.12    | 0.66%             | 2027-09-13      | Fixed         | 6.68%                 | No            |                  2 | On Loan: No      |
| ABN AMRO Bank NV                                          | ABN AMRO Bank NV                                                            | CUSIP: 00084DBA7<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $304181.40    | 0.80%             | 2027-09-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Trust Bank Ltd.                           | Sumitomo Mitsui Trust Bank Ltd.                                             | CUSIP: 86563VBL2<br>LEI: 5493006GGLR4BTEL8O61 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $301498.55    | 0.79%             | 2026-09-14      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                          | CUSIP: 13607PHU1<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    109000 | PA      | $109330.78    | 0.29%             | 2027-09-11      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                        | Honda Auto Receivables Owner Trust, Series 2025-4, Class A2A                | CUSIP: 43814XAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    164000 | PA      | $164445.36    | 0.43%             | 2028-06-15      | Fixed         | 4.04%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                            | BNP Paribas SA                                                              | CUSIP: 09659W3B8<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    200000 | PA      | $202139.47    | 0.53%             | 2029-05-09      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Amphenol Corp.                                            | Amphenol Corp.                                                              | CUSIP: 032095AV3<br>LEI: 549300D3L3G0R4U4VT04 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20054.16     | 0.05%             | 2027-11-15      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| Caterpillar Financial Services Corp.                      | Caterpillar Financial Services Corp.                                        | CUSIP: 14913UAP5<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40155.27     | 0.11%             | 2026-10-16      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| Conagra Brands, Inc.                                      | Conagra Brands, Inc.                                                        | CUSIP: 20600HB29<br>LEI: 54930035UDEIH090K650 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249918.18    | 0.65%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bank NA                                       | Fifth Third Bank NA                                                         | CUSIP: 31677QBV0<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $250537.13    | 0.66%             | 2028-01-28      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Synopsys, Inc.                                            | Synopsys, Inc.                                                              | CUSIP: 871607AA5<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20146.56     | 0.05%             | 2027-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                        | Honda Auto Receivables Owner Trust, Series 2023-1, Class A3                 | CUSIP: 43815JAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2217 | PA      | $2221.01      | 0.01%             | 2027-04-21      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Siemens Funding BV                                        | Siemens Funding BV                                                          | CUSIP: 82622RAB2<br>LEI: 213800CCRGH2TO338X64 | Long             | DBT              | CORP              | NL        |    200000 | PA      | $201088.43    | 0.53%             | 2028-05-26      | Floating      | 4.32%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                        | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252391.57    | 0.66%             | 2028-10-22      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                      | JPMorgan Chase & Co.                                                        | CUSIP: 46647PEN2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40168.86     | 0.11%             | 2028-10-22      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos., Inc.                                         | Lowe's Cos., Inc.                                                           | CUSIP: 548661EU7<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     90000 | PA      | $90125.50     | 0.24%             | 2028-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                         | Duke Energy Corp.                                                           | CUSIP: 26244JB99<br>LEI: I1BZKREC126H0VB1BL91 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249743.63    | 0.65%             | 2026-02-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co.                                                           | CUSIP: 95000U3S0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    186000 | PA      | $186527.66    | 0.49%             | 2028-01-24      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                          | CVS Health Corp.                                                            | CUSIP: 126650DS6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |     32000 | PA      | $32007.27     | 0.08%             | 2026-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mid-America Apartments LP                                 | Mid-America Apartments LP                                                   | CUSIP: 59524PB55<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249841.90    | 0.65%             | 2026-02-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                   | CUSIP: 00774MBN4<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $152455.33    | 0.40%             | 2028-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Southern Co. Gas Capital Corp.                            | Southern Co. Gas Capital Corp., Series A                                    | CUSIP: 8426EPAJ7<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15017.19     | 0.04%             | 2028-09-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                              | Ford Credit Auto Owner Trust, Series 2025-B, Class A2B                      | CUSIP: 34532BAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     52000 | PA      | $52019.74     | 0.14%             | 2028-06-15      | Floating      | 4.01%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                          | Boeing Co. (The)                                                            | CUSIP: 097023CH6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     80000 | PA      | $79811.02     | 0.21%             | 2026-05-01      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group, Inc.                                    | WEC Energy Group, Inc.                                                      | CUSIP: 92939UAM8<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |     28000 | PA      | $28245.51     | 0.07%             | 2026-09-12      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Canadian Imperial Bank of Commerce                        | Canadian Imperial Bank of Commerce                                          | CUSIP: 13607PJ21<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $100601.39    | 0.26%             | 2029-03-30      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                               | Toronto-Dominion Bank (The), Series F                                       | CUSIP: 89115KAL4<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     70000 | PA      | $70115.47     | 0.18%             | 2028-01-13      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                          | Boeing Co. (The)                                                            | CUSIP: 097023BR5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34758.21     | 0.09%             | 2026-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                         | Wells Fargo & Co.                                                           | CUSIP: 95000U3M3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     23000 | PA      | $23129.44     | 0.06%             | 2028-04-22      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                               | Toronto-Dominion Bank (The)                                                 | CUSIP: 89115KAF7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     77000 | PA      | $77209.75     | 0.20%             | 2028-10-13      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Mid-America Apartments LP                                 | Mid-America Apartments LP                                                   | CUSIP: 59524PBK2<br>LEI: 549300FXWGE3QSYCUJ38 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249469.08    | 0.65%             | 2026-02-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Athene Global Funding                                     | Athene Global Funding                                                       | CUSIP: 04685A4A6<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    108000 | PA      | $108525.34    | 0.28%             | 2026-08-27      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| Kenvue, Inc.                                              | Kenvue, Inc.                                                                | CUSIP: 49177JAD4<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50033.11     | 0.13%             | 2026-03-22      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Hyundai Capital America                                   | Hyundai Capital America                                                     | CUSIP: 44891ACZ8<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    238000 | PA      | $238955.87    | 0.63%             | 2027-03-19      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust        | GM Financial Consumer Automobile Receivables Trust, Series 2022-3, Class A4 | CUSIP: 36265WAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    172762 | PA      | $172646.18    | 0.45%             | 2027-12-16      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| DTE Energy Co.                                            | DTE Energy Co.                                                              | CUSIP: 233331BJ5<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25434.01     | 0.07%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| American Express Co.                                      | American Express Co.                                                        | CUSIP: 025816EE5<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     75000 | PA      | $75975.90     | 0.20%             | 2029-04-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                         | BAT Capital Corp.                                                           | CUSIP: 05526DBJ3<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     65000 | PA      | $64743.52     | 0.17%             | 2026-09-06      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                          | Boeing Co. (The)                                                            | CUSIP: 097023CM5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     60000 | PA      | $59293.00     | 0.16%             | 2027-02-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Lloyds Banking Group plc                                  | Lloyds Banking Group plc                                                    | CUSIP: 539439BD0<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    250000 | PA      | $254126.08    | 0.67%             | 2029-06-13      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| State Street Corp.                                        | State Street Corp.                                                          | CUSIP: 857477CZ4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35215.08     | 0.09%             | 2028-04-24      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| AES Corp. (The)                                           | AES Corp. (The)                                                             | CUSIP: 00809KB23<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249917.78    | 0.65%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Netflix, Inc.                                             | Netflix, Inc.                                                               | CUSIP: 64110LAT3<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41965.77     | 0.11%             | 2028-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AT&T, Inc.                                                | AT&T, Inc.                                                                  | CUSIP: 00206RHW5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     73000 | PA      | $72905.55     | 0.19%             | 2027-02-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AvalonBay Communities, Inc.                               | AvalonBay Communities, Inc.                                                 | CUSIP: 05348BB20<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249921.30    | 0.65%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Life Global Funding                              | New York Life Global Funding                                                | CUSIP: 64953BBV9<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60565.41     | 0.16%             | 2028-04-25      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Rio Tinto Finance USA plc                                 | Rio Tinto Finance USA plc                                                   | CUSIP: 76720AAY2<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |     35000 | PA      | $35296.62     | 0.09%             | 2028-03-14      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Mars, Inc.                                                | Mars, Inc.                                                                  | CUSIP: 571676AW5<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     76000 | PA      | $76571.93     | 0.20%             | 2027-03-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Nationwide Building Society                               | Nationwide Building Society                                                 | CUSIP: 63861VAG2<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $201652.25    | 0.53%             | 2028-02-16      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Huntington National Bank (The)                            | Huntington National Bank (The)                                              | CUSIP: 44644MAK7<br>LEI: 2WHM8VNJH63UN14OL754 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252214.28    | 0.66%             | 2028-04-12      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                    | Truist Financial Corp.                                                      | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    100000 | PA      | $100694.74    | 0.26%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP                                  | Mizuho Markets Cayman LP                                                    | CUSIP: 60700JFW0<br>LEI: 549300KHUXLS6Q30KT26 | Long             | DBT              | CORP              | KY        |    115000 | PA      | $115170.65    | 0.30%             | 2026-11-16      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                       | Brown & Brown, Inc.                                                         | CUSIP: 115236AH4<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |     80000 | PA      | $80486.67     | 0.21%             | 2026-12-23      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                      | Glencore Funding LLC                                                        | CUSIP: 378272BX5<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50107.09     | 0.13%             | 2026-10-01      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| AutoNation, Inc.                                          | AutoNation, Inc.                                                            | CUSIP: 05330NB24<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    250000 | PA      | $249916.25    | 0.65%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The)                               | Toronto-Dominion Bank (The)                                                 | CUSIP: 89115A3F7<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |     90000 | PA      | $90509.43     | 0.24%             | 2028-01-31      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Swedbank AB                                               | Swedbank AB                                                                 | CUSIP: 87020PAX5<br>LEI: M312WZV08Y7LYUC71685 | Long             | DBT              | CORP              | SE        |    200000 | PA      | $202642.96    | 0.53%             | 2026-09-12      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group, Inc.                                    | WEC Energy Group, Inc.                                                      | CUSIP: 92930WBL4<br>LEI: 549300IGLYTZUK3PVP70 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249442.23    | 0.65%             | 2026-02-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NatWest Group plc                                         | NatWest Group plc                                                           | CUSIP: 639057AM0<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |    200000 | PA      | $200661.76    | 0.53%             | 2028-03-01      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Putnam Funds Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer