# EDGAR Filing Document

**Accession Number:** 0000914036
**File Stem:** 0001410368-25-027797
**Filing Date:** 2025-11
**Character Count:** 287625
**Document Hash:** 6c8c3d287bc149556a67c7709c346aa4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027797.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001410368-25-027797

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000914036

**ORGANIZATION NAME:**
- **EIN:** 521835648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08090
- **FILM NUMBER:** 251504988

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 260-455-2000

**MAIL ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGGRESSIVE GROWTH FUND /
- **DATE OF NAME CHANGE:** 20031001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **DATE OF NAME CHANGE:** 20030910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN NATIONAL AGGRESSIVE GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19931025

## Series and Classes Contracts Data

### LVIP PIMCO Low Duration Bond Fund (Series ID: S000045002)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000139574 | Standard Class |  |
| C000139575 | Service Class  |  |

## Nport-Ex

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments**

September 30, 2025 (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>| **Value** <br>**(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–17.90%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–17.90%** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS–17.90%** |
| Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS | Federal Home Loan Mortgage Corp. REMICS |
| &nbsp;&nbsp;&nbsp; Series 4141 Class PA 1.50% <br> 12/15/42<br>| 4691683 | $4034680 |
| &nbsp;&nbsp;&nbsp; •Series 4347 Class WF 4.86% <br> (30 day USD SOFR Average <br> + 0.51%) 1/15/40<br>| 504508 | 499343 |
| &nbsp;&nbsp;&nbsp; •Series 4367 Class GF 4.81% <br> (30 day USD SOFR Average <br> + 0.46%) 3/15/37<br>| 1334265 | 1319254 |
| &nbsp;&nbsp;&nbsp; •Series 4419 Class AF 4.80% <br> (30 day USD SOFR Average <br> + 0.45%) 6/15/40<br>| 811380 | 802105 |
| &nbsp;&nbsp;&nbsp; •Series 4730 Class WF 4.81% <br> (30 day USD SOFR Average <br> + 0.46%) 8/15/38<br>| 1502374 | 1485257 |
| &nbsp;&nbsp;&nbsp; •Series 4906 Class WF 4.86% <br> (30 day USD SOFR Average <br> + 0.51%) 12/15/38<br>| 1851654 | 1826755 |
| &nbsp;&nbsp;&nbsp; Series 4948 Class E 2.50% <br> 10/25/48<br>| 265831 | 242734 |
| &nbsp;&nbsp;&nbsp; Series 5115 Class CD 1.00% <br> 8/15/44<br>| 4306732 | 3720575 |
| &nbsp;&nbsp;&nbsp; •Series 5480 Class FG 5.51% <br> (30 day USD SOFR Average <br> + 1.15%) 12/25/54<br>| 2667650 | 2671272 |
| &nbsp;&nbsp;&nbsp; •Series 5484 Class FA 5.56% <br> (30 day USD SOFR Average <br> + 1.20%) 12/25/54<br>| 1957238 | 1964017 |
| &nbsp;&nbsp;&nbsp; •Series 5493 Class FK 5.51% <br> (30 day USD SOFR Average <br> + 1.15%) 1/25/55<br>| 2564565 | 2565264 |
| &nbsp;&nbsp;&nbsp; •Series 5500 Class FA 5.56% <br> (30 day USD SOFR Average <br> + 1.20%) 2/25/55<br>| 3157947 | 3163500 |
| &nbsp;&nbsp;&nbsp; •Series 5500 Class GF 5.31% <br> (30 day USD SOFR Average <br> + 0.95%) 10/25/54<br>| 3158041 | 3161006 |
| &nbsp;&nbsp;&nbsp; •Series 5508 Class DF 5.36% <br> (30 day USD SOFR Average <br> + 1.00%) 2/25/55<br>| 2023844 | 2022726 |
| &nbsp;&nbsp;&nbsp; •Series 5511 Class FG 5.51% <br> (30 day USD SOFR Average <br> + 1.15%) 3/25/55<br>| 2246100 | 2251675 |
| &nbsp;&nbsp;&nbsp; •Series 5513 Class MF 5.30% <br> (30 day USD SOFR Average <br> + 0.94%) 11/25/54<br>| 11474618 | 11459071 |
| &nbsp;&nbsp;&nbsp; •Series 5517 Class FE 5.31% <br> (30 day USD SOFR Average <br> + 0.95%) 3/25/55<br>| 713205 | 715503 |
| &nbsp;&nbsp;&nbsp; •Series 5517 Class VF 5.31% <br> (30 day USD SOFR Average <br> + 0.95%) 3/25/55<br>| 4987814 | 4982251 |
| &nbsp;&nbsp;&nbsp; •Series 5532 Class FA 5.31% <br> (30 day USD SOFR Average <br> + 0.95%) 4/25/55<br>| 5886832 | 5880811 |
| &nbsp;&nbsp;&nbsp; •Series 5534 Class FM 5.29% <br> (30 day USD SOFR Average <br> + 0.93%) 5/25/55<br>| 5827560 | 5831519 |
| &nbsp;&nbsp;&nbsp; •Series 5544 Class F 5.36% <br> (30 day USD SOFR Average <br> + 1.00%) 6/25/55<br>| 3479682 | 3485750 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| Federal Home Loan Mortgage Corp. REMICS (continued) | Federal Home Loan Mortgage Corp. REMICS (continued) | Federal Home Loan Mortgage Corp. REMICS (continued) |
| &nbsp;&nbsp;&nbsp; •Series 5549 Class CF 5.36% <br> (30 day USD SOFR Average <br> + 1.00%) 10/25/52<br>| 4224024 | $4238783 |
| &nbsp;&nbsp;&nbsp; •Series 5557 Class FM 5.46% <br> (30 day USD SOFR Average <br> + 1.10%) 7/25/55<br>| 1547837 | 1548784 |
| &nbsp;&nbsp;&nbsp; •Series 5560 Class FB 5.36% <br> (30 day USD SOFR Average <br> + 1.00%) 6/25/55<br>| 1443679 | 1446718 |
| &nbsp;&nbsp;&nbsp; •Series 5564 Class FB 5.56% <br> (30 day USD SOFR Average <br> + 1.20%) 8/25/55<br>| 1585229 | 1589102 |
| &nbsp;&nbsp;&nbsp; •Series 5564 Class PF 5.56% <br> (30 day USD SOFR Average <br> + 1.20%) 8/25/55<br>| 993550 | 996194 |
| &nbsp;&nbsp;&nbsp; •Series 5565 Class FA 5.51% <br> (30 day USD SOFR Average <br> + 1.15%) 8/25/55<br>| 1862464 | 1865468 |
| &nbsp;&nbsp;&nbsp; •Series 5565 Class FB 5.31% <br> (30 day USD SOFR Average <br> + 0.95%) 8/25/55<br>| 694677 | 696726 |
| &nbsp;&nbsp;&nbsp; •Series 5584 Class DF 5.25% <br> (30 day USD SOFR Average <br> + 0.90%) 10/25/55<br>| 500000 | 500498 |
| •Federal Home Loan Mortgage Corp. STRIPS | •Federal Home Loan Mortgage Corp. STRIPS | •Federal Home Loan Mortgage Corp. STRIPS |
| &nbsp;&nbsp;&nbsp; Series 328 Class F4 4.81% <br> (30 day USD SOFR Average <br> + 0.46%) 2/15/38<br>| 1372526 | 1357794 |
| &nbsp;&nbsp;&nbsp; Series 330 Class F4 4.81% <br> (30 day USD SOFR Average <br> + 0.46%) 10/15/37<br>| 629858 | 622991 |
| Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS | Federal National Mortgage Association REMICS |
| &nbsp;&nbsp;&nbsp; •Series 2011-86 Class NF <br> 5.02% (30 day USD SOFR <br> Average + 0.66%) 9/25/41<br>| 536724 | 534156 |
| &nbsp;&nbsp;&nbsp; Series 2013-6 Class JB 1.50% <br> 2/25/43<br>| 4426153 | 3846590 |
| &nbsp;&nbsp;&nbsp; •Series 2014-49 Class AF <br> 4.78% (30 day USD SOFR <br> Average + 0.43%) 8/25/44<br>| 230352 | 228029 |
| &nbsp;&nbsp;&nbsp; •Series 2017-95 Class FA <br> 4.81% (30 day USD SOFR <br> Average + 0.46%) 11/25/47<br>| 1317892 | 1303736 |
| &nbsp;&nbsp;&nbsp; •Series 2019-53 Class FA <br> 4.86% (30 day USD SOFR <br> Average + 0.51%) 9/25/49<br>| 1358732 | 1319658 |
| &nbsp;&nbsp;&nbsp; •Series 2020-29 Class FC <br> 5.26% (30 day USD SOFR <br> Average + 0.91%) 5/25/50<br>| 1637134 | 1640859 |
| &nbsp;&nbsp;&nbsp; •Series 2024-100 Class FA <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 6/25/54<br>| 2823880 | 2823723 |
| &nbsp;&nbsp;&nbsp; •Series 2024-101 Class FB <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 1/25/55<br>| 3283975 | 3281724 |
| &nbsp;&nbsp;&nbsp; •Series 2024-103 Class FC <br> 5.51% (30 day USD SOFR <br> Average + 1.15%) 1/25/55<br>| 3952495 | 3954791 |

---

*LVIP PIMCO Low Duration Bond Fund–1*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| Federal National Mortgage Association REMICS (continued) | Federal National Mortgage Association REMICS (continued) | Federal National Mortgage Association REMICS (continued) |
| &nbsp;&nbsp;&nbsp; •Series 2024-104 Class FA <br> 5.41% (30 day USD SOFR <br> Average + 1.05%) 1/25/55<br>| 3969076 | $3961007 |
| &nbsp;&nbsp;&nbsp; •Series 2024-90 Class FB <br> 5.61% (30 day USD SOFR <br> Average + 1.25%) 11/25/53<br>| 2822224 | 2838831 |
| &nbsp;&nbsp;&nbsp; •Series 2024-95 Class KF <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 12/25/54<br>| 1510930 | 1509784 |
| &nbsp;&nbsp;&nbsp; •Series 2025-12 Class EF <br> 5.27% (30 day USD SOFR <br> Average + 0.91%) 3/25/55<br>| 750243 | 750469 |
| &nbsp;&nbsp;&nbsp; •Series 2025-12 Class FG <br> 5.31% (30 day USD SOFR <br> Average + 0.95%) 3/25/55<br>| 363593 | 363953 |
| &nbsp;&nbsp;&nbsp; •Series 2025-16 Class FA <br> 5.51% (30 day USD SOFR <br> Average + 1.15%) 3/25/55<br>| 2442212 | 2443582 |
| &nbsp;&nbsp;&nbsp; •Series 2025-16 Class FM <br> 5.31% (30 day USD SOFR <br> Average + 0.95%) 1/25/55<br>| 546546 | 547056 |
| &nbsp;&nbsp;&nbsp; •Series 2025-18 Class FM <br> 5.26% (30 day USD SOFR <br> Average + 0.90%) 9/25/54<br>| 12066229 | 12069942 |
| &nbsp;&nbsp;&nbsp; •Series 2025-19 Class FC <br> 5.52% (30 day USD SOFR <br> Average + 1.16%) 3/25/55<br>| 2497869 | 2501977 |
| &nbsp;&nbsp;&nbsp; •Series 2025-35 Class FB <br> 5.36% (30 day USD SOFR <br> Average + 1.00%) 5/25/55<br>| 1397166 | 1397357 |
| &nbsp;&nbsp;&nbsp; •Series 2025-35 Class FM <br> 5.41% (30 day USD SOFR <br> Average + 1.05%) 5/25/55<br>| 964362 | 966271 |
| &nbsp;&nbsp;&nbsp; •Series 2025-4 Class FB 5.56% <br> (30 day USD SOFR Average <br> + 1.20%) 12/25/53<br>| 1083714 | 1087435 |
| &nbsp;&nbsp;&nbsp; •Series 2025-54 Class FM <br> 5.46% (30 day USD SOFR <br> Average + 1.10%) 7/25/55<br>| 855084 | 855611 |
| &nbsp;&nbsp;&nbsp; •Series 2025-6 Class FA 5.61% <br> (30 day USD SOFR Average <br> + 1.25%) 2/25/55<br>| 854413 | 858277 |
| &nbsp;&nbsp;&nbsp; •Series 2025-88 Class FM <br> 5.29% (30 day USD SOFR <br> Average + 0.90%) 8/25/55<br>| 900000 | 901043 |
| Government National Mortgage Association REMICS | Government National Mortgage Association REMICS | Government National Mortgage Association REMICS |
| &nbsp;&nbsp;&nbsp; •Series 2016-H17 Class FC <br> 5.30% (1 mo. USD Term <br> SOFR + 0.94%) 8/20/66<br>| 512031 | 512384 |
| &nbsp;&nbsp;&nbsp; •Series 2016-H19 Class FA <br> 5.25% (1 mo. USD Term <br> SOFR + 0.89%) 9/20/66<br>| 354136 | 354761 |
| &nbsp;&nbsp;&nbsp; •Series 2022-H22 Class EF <br> 5.14% (30 day USD SOFR <br> Average + 0.75%) 10/20/72<br>| 1648088 | 1650546 |
| &nbsp;&nbsp;&nbsp; •Series 2023-H02 Class FA <br> 5.29% (30 day USD SOFR <br> Average + 0.90%) 1/20/73<br>| 3317009 | 3301481 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| Government National Mortgage Association REMICS (continued) | Government National Mortgage Association REMICS (continued) | Government National Mortgage Association REMICS (continued) |
| &nbsp;&nbsp;&nbsp; •Series 2023-H23 Class JF <br> 5.37% (30 day USD SOFR <br> Average + 0.98%) 9/20/73<br>| 7354956 | $7392353 |
| &nbsp;&nbsp;&nbsp; •Series 2023-H26 Class DF <br> 4.69% (30 day USD SOFR <br> Average + 0.30%) 9/20/73<br>| 3153134 | 3134880 |
| &nbsp;&nbsp;&nbsp; •Series 2024-13 Class FA <br> 5.34% (30 day USD SOFR <br> Average + 0.95%) 1/20/54<br>| 333436 | 333979 |
| &nbsp;&nbsp;&nbsp; •Series 2025-100 Class FA <br> 5.54% (30 day USD SOFR <br> Average + 1.15%) 6/20/55<br>| 593787 | 595049 |
| &nbsp;&nbsp;&nbsp; •Series 2025-118 Class FA <br> 5.54% (30 day USD SOFR <br> Average + 1.15%) 7/20/55<br>| 496360 | 497762 |
| &nbsp;&nbsp;&nbsp; Series 2025-79 Class NA <br> 3.50% 11/20/49<br>| 2807980 | 2681012 |
| &nbsp;&nbsp;&nbsp; •Series 2025-89 Class PF <br> 5.34% (30 day USD SOFR <br> Average + 0.95%) 5/20/55<br>| 1185406 | 1188304 |
| &nbsp;&nbsp;&nbsp; •Series 2025-98 Class GF <br> 5.29% (30 day USD SOFR <br> Average + 0.90%) 6/20/55<br>| 6442541 | 6452912 |
| **Total Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $160,753,859)** | **Total Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $160,753,859)** | **159029410** |
| **AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–0.57%** | **AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–0.57%** | **AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–0.57%** |
| &nbsp;&nbsp; ♦•Federal Home Loan Mortgage <br> Corp. Multifamily <br> Structured Pass-Through <br> Certificates Series Q029 <br> Class A 4.90% (30 day USD <br> SOFR Average + 0.55%) <br> 8/25/27<br>| 2718788 | 2718782 |
| •Federal National Mortgage Association-ACES | •Federal National Mortgage Association-ACES | •Federal National Mortgage Association-ACES |
| &nbsp;&nbsp;&nbsp; Series 2017-M2 Class A2 <br> 2.98% 2/25/27<br>| 1541953 | 1518842 |
| &nbsp;&nbsp;&nbsp; Series 2017-M4 Class A2 <br> 2.66% 12/25/26<br>| 794116 | 780447 |
| **Total Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $5,019,333)** | **Total Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $5,019,333)** | **5018071** |
| **AGENCY MORTGAGE-BACKED SECURITIES–18.01%** | **AGENCY MORTGAGE-BACKED SECURITIES–18.01%** | **AGENCY MORTGAGE-BACKED SECURITIES–18.01%** |
| Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA | Uniform Mortgage-Backed Security, TBA |
| &nbsp;&nbsp; 5.00% 10/1/55 | 43400000 | 43037921 |
| &nbsp;&nbsp; 6.00% 10/1/54 | 60900000 | 62214689 |
| &nbsp;&nbsp; 6.00% 11/1/54 | 53600000 | 54768313 |
| **Total Agency Mortgage-Backed Securities** <br>**(Cost $159,179,895)** | **Total Agency Mortgage-Backed Securities** <br>**(Cost $159,179,895)** | **160020923** |
| **CORPORATE BONDS–32.87%** | **CORPORATE BONDS–32.87%** | **CORPORATE BONDS–32.87%** |
| **Aerospace & Defense–1.47%** | **Aerospace & Defense–1.47%** | **Aerospace & Defense–1.47%** |
| Boeing Co. |  |  |
| &nbsp;&nbsp; 2.20% 2/4/26 | 9800000 | 9725778 |
| &nbsp;&nbsp; 2.75% 2/1/26 | 300000 | 298289 |
| &nbsp;&nbsp; 6.26% 5/1/27 | 500000 | 514459 |

---

*LVIP PIMCO Low Duration Bond Fund–2*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** | **Aerospace & Defense (continued)** |
| &nbsp;&nbsp; Rolls-Royce PLC 3.63% <br> 10/14/25<br>| 2500000 | $2498909 |
|  |  | **13037435** |
| **Agriculture–0.56%** | **Agriculture–0.56%** | **Agriculture–0.56%** |
| &nbsp;&nbsp; BAT International Finance <br> PLC 1.67% 3/25/26<br>| 5000000 | 4939433 |
|  |  | **4939433** |
| **Airlines–0.12%** | **Airlines–0.12%** | **Airlines–0.12%** |
| &nbsp;&nbsp; ♦United Airlines Pass-Through <br> Trust 3.75% 3/3/28<br>| 1068754 | 1059508 |
|  |  | **1059508** |
| **Auto Manufacturers–3.43%** | **Auto Manufacturers–3.43%** | **Auto Manufacturers–3.43%** |
| &nbsp;&nbsp; •American Honda Finance <br> Corp. 4.93% (1 day USD <br> SOFR + 0.73%) 3/8/27<br>| 7200000 | 7213320 |
| &nbsp;&nbsp; •BMW U.S. Capital LLC 5.07% <br> (1 day USD SOFR Index + <br> 0.92%) 3/21/28<br>| 2000000 | 2010980 |
| &nbsp;&nbsp; Daimler Truck Finance North <br> America LLC 5.15% 1/16/26<br>| 4200000 | 4208358 |
| &nbsp;&nbsp; Ford Motor Credit Co. LLC <br> 5.13% 11/5/26<br>| 6200000 | 6220545 |
| Hyundai Capital America |  |  |
| &nbsp;&nbsp; 5.15% 3/27/30 | 1100000 | 1122467 |
| &nbsp;&nbsp;&nbsp; •5.19% (1 day USD SOFR + <br> 1.04%) 6/24/27<br>| 900000 | 904560 |
| &nbsp;&nbsp; Nissan Motor Acceptance Co. <br> LLC 1.85% 9/16/26<br>| 2500000 | 2409791 |
| &nbsp;&nbsp; Volkswagen Group of America <br> Finance LLC<br>|  |  |
| &nbsp;&nbsp; 4.95% 3/25/27 | 2800000 | 2823396 |
| &nbsp;&nbsp;&nbsp; •4.98% (1 day USD SOFR + <br> 0.83%) 3/20/26<br>| 3383000 | 3389072 |
| &nbsp;&nbsp;&nbsp; •5.21% (1 day USD SOFR + <br> 1.06%) 3/25/27<br>| 200000 | 200788 |
|  |  | **30503277** |
| **Banks–7.91%** | **Banks–7.91%** | **Banks–7.91%** |
| &nbsp;&nbsp; μABN AMRO Bank NV 6.58% <br> 10/13/26<br>| 7500000 | 7504344 |
| &nbsp;&nbsp; μBank of America Corp. 5.08% <br> 1/20/27<br>| 2000000 | 2003674 |
| Barclays PLC |  |  |
| &nbsp;&nbsp; 4.38% 1/12/26 | 3000000 | 3000000 |
| μ5.83% 5/9/27 | 1600000 | 1614135 |
| BPCE SA |  |  |
| &nbsp;&nbsp; 3.50% 10/23/27 | 1600000 | 1572669 |
| μ5.98% 1/18/27 | 4314000 | 4330175 |
| μ6.61% 10/19/27 | 2700000 | 2761054 |
| &nbsp;&nbsp; •Goldman Sachs Group, Inc. <br> 5.00% (1 day USD SOFR + <br> 0.81%) 3/9/27<br>| 900000 | 900961 |
| &nbsp;&nbsp; •ING Bank Australia Ltd. <br> 4.56% (3 mo. AUD Bank Bill <br> Swap + 0.98%) 12/8/25<br>| 5000000 | 3312900 |
| &nbsp;&nbsp; μLloyds Banking Group PLC <br> 5.46% 1/5/28<br>| 2300000 | 2334271 |
| &nbsp;&nbsp; μMizuho Financial Group, Inc. <br> 1.23% 5/22/27<br>| 3700000 | 3629218 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| National Bank of Canada |  |  |
| μ4.70% 3/5/27 | 500000 | $500696 |
| &nbsp;&nbsp;&nbsp; •5.38% (1 day USD SOFR <br> Index + 1.03%) 7/2/27<br>| 5000000 | 5016383 |
| μPNC Bank NA 4.78% 1/15/27 | 8000000 | 8009602 |
| •Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp; 4.97% (1 day USD SOFR <br> Index + 0.82%) 3/27/28<br>| 1600000 | 1605626 |
| &nbsp;&nbsp;&nbsp; 5.03% (1 day USD SOFR <br> Index + 0.72%) 10/18/27<br>| 1400000 | 1403397 |
| &nbsp;&nbsp; μSantander U.K. Group <br> Holdings PLC 6.83% <br> 11/21/26<br>| 8500000 | 8525170 |
| &nbsp;&nbsp; •Skandinaviska Enskilda <br> Banken AB 5.09% (1 day <br> USD SOFR + 0.89%) 3/5/27<br>| 2043000 | 2057515 |
| &nbsp;&nbsp; μSociete Generale SA 1.49% <br> 12/14/26<br>| 1900000 | 1888210 |
| &nbsp;&nbsp; •Sumitomo Mitsui Banking <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.42% (3 mo. AUD Bank Bill <br> Swap + 0.85%) 2/20/26<br>| 2700000 | 1790306 |
| &nbsp;&nbsp;&nbsp; 4.79% (3 mo. AUD Bank Bill <br> Swap + 1.10%) 11/7/25<br>| 1000000 | 662322 |
| &nbsp;&nbsp; Sumitomo Mitsui Financial <br> Group, Inc. 5.88% 7/13/26<br>| 4000000 | 4056524 |
| μUBS Group AG 5.71% 1/12/27 | 1800000 | 1806360 |
|  |  | **70285512** |
| **Biotechnology–0.05%** | **Biotechnology–0.05%** | **Biotechnology–0.05%** |
| Illumina, Inc. 5.80% 12/12/25 | 400000 | 400537 |
|  |  | **400537** |
| **Commercial Services–0.70%** | **Commercial Services–0.70%** | **Commercial Services–0.70%** |
| &nbsp;&nbsp; Global Payments, Inc. 1.20% <br> 3/1/26<br>| 6313000 | 6229558 |
|  |  | **6229558** |
| **Diversified Financial Services–1.76%** | **Diversified Financial Services–1.76%** | **Diversified Financial Services–1.76%** |
| Avolon Holdings Funding Ltd. |  |  |
| &nbsp;&nbsp; 2.13% 2/21/26 | 281000 | 278106 |
| &nbsp;&nbsp; 5.50% 1/15/26 | 2800000 | 2803712 |
| Nomura Holdings, Inc. |  |  |
| &nbsp;&nbsp; 5.59% 7/2/27 | 2200000 | 2248578 |
| &nbsp;&nbsp; 5.71% 1/9/26 | 1800000 | 1806846 |
| ORIX Corp. 4.65% 9/10/29 | 2000000 | 2024199 |
| &nbsp;&nbsp; •PSP Capital, Inc. 4.57% (1 day <br> USD SOFR + 0.35%) 12/1/27<br>| 6500000 | 6500591 |
|  |  | **15662032** |
| **Electric–3.49%** | **Electric–3.49%** | **Electric–3.49%** |
| AES Corp. 1.38% 1/15/26 | 5200000 | 5152082 |
| &nbsp;&nbsp; Algonquin Power & Utilities <br> Corp. 5.37% 6/15/26<br>| 8800000 | 8863291 |
| &nbsp;&nbsp; Enel Finance International <br> NV<br>|  |  |
| &nbsp;&nbsp; 1.63% 7/12/26 | 2000000 | 1960268 |
| &nbsp;&nbsp; 5.13% 6/26/29 | 1400000 | 1434185 |
| &nbsp;&nbsp; FirstEnergy Corp. 3.90% <br> 7/15/27<br>| 800000 | 795094 |
| &nbsp;&nbsp; FirstEnergy <br> Transmission LLC 4.55% <br> 1/15/30<br>| 3300000 | 3321117 |

---

*LVIP PIMCO Low Duration Bond Fund–3*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp; 2.10% 8/1/27 | 1300000 | $1249615 |
| &nbsp;&nbsp; 2.95% 3/1/26 | 200000 | 198618 |
| &nbsp;&nbsp; 3.15% 1/1/26 | 3000000 | 2990453 |
| &nbsp;&nbsp; Southern California Edison <br> Co.<br>|  |  |
| &nbsp;&nbsp; 3.65% 3/1/28 | 1500000 | 1474037 |
| &nbsp;&nbsp; 4.70% 6/1/27 | 1300000 | 1304642 |
| &nbsp;&nbsp; 5.35% 3/1/26 | 2000000 | 2007764 |
| &nbsp;&nbsp; 5.85% 11/1/27 | 200000 | 205204 |
|  |  | **30956370** |
| **Electronics–0.25%** | **Electronics–0.25%** | **Electronics–0.25%** |
| &nbsp;&nbsp; Arrow Electronics, Inc. 5.15% <br> 8/21/29<br>| 2200000 | 2252209 |
|  |  | **2252209** |
| **Health Care Services–1.73%** | **Health Care Services–1.73%** | **Health Care Services–1.73%** |
| &nbsp;&nbsp; Adventist Health System <br> 4.74% 12/1/30<br>| 2650000 | 2651024 |
| &nbsp;&nbsp; CommonSpirit Health 1.55% <br> 10/1/25<br>| 4000000 | 4000000 |
| HCA, Inc. 5.38% 9/1/26 | 8700000 | 8737443 |
|  |  | **15388467** |
| **Insurance–1.66%** | **Insurance–1.66%** | **Insurance–1.66%** |
| •Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp; 5.07% (1 day USD SOFR <br> Index + 0.75%) 7/16/26<br>| 5000000 | 5011700 |
| &nbsp;&nbsp;&nbsp; 5.25% (1 day USD SOFR <br> Index + 1.03%) 8/27/26<br>| 1000000 | 1005293 |
| &nbsp;&nbsp;&nbsp; 5.25% (1 day USD SOFR <br> Index + 1.03%) 8/27/26<br>| 400000 | 402117 |
| &nbsp;&nbsp;&nbsp; 5.36% (1 day USD SOFR <br> Index + 1.21%) 3/25/27<br>| 2300000 | 2318523 |
| &nbsp;&nbsp; Brighthouse Financial Global <br> Funding 1.55% 5/24/26<br>| 1000000 | 980411 |
| &nbsp;&nbsp; Equitable Financial Life <br> Global Funding 1.00% <br> 1/9/26<br>| 4500000 | 4457754 |
| &nbsp;&nbsp; GA Global Funding Trust <br> 1.63% 1/15/26<br>| 600000 | 595158 |
|  |  | **14770956** |
| **Investment Companies–0.66%** | **Investment Companies–0.66%** | **Investment Companies–0.66%** |
| &nbsp;&nbsp; FS KKR Capital Corp. 3.40% <br> 1/15/26<br>| 1500000 | 1493430 |
| &nbsp;&nbsp; KKR Financial Holdings LLC <br> 5.40% 5/23/33<br>| 4500000 | 4403451 |
|  |  | **5896881** |
| **Lodging–1.18%** | **Lodging–1.18%** | **Lodging–1.18%** |
| &nbsp;&nbsp; Hyatt Hotels Corp. 5.05% <br> 3/30/28<br>| 1700000 | 1727600 |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp; 3.50% 8/18/26 | 4700000 | 4660954 |
| &nbsp;&nbsp; 5.90% 6/1/27 | 4000000 | 4080850 |
|  |  | **10469404** |
| **Oil & Gas–0.35%** | **Oil & Gas–0.35%** | **Oil & Gas–0.35%** |
| &nbsp;&nbsp; Canadian Natural Resources <br> Ltd. 5.00% 12/15/29<br>| 800000 | 817745 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp; Petronas Energy Canada Ltd. <br> 2.11% 3/23/28<br>| 2400000 | $2292753 |
|  |  | **3110498** |
| **Packaging & Containers–0.47%** | **Packaging & Containers–0.47%** | **Packaging & Containers–0.47%** |
| &nbsp;&nbsp; Berry Global, Inc. 1.57% <br> 1/15/26<br>| 4200000 | 4163817 |
|  |  | **4163817** |
| **Pharmaceuticals–1.68%** | **Pharmaceuticals–1.68%** | **Pharmaceuticals–1.68%** |
| Bayer U.S. Finance II LLC |  |  |
| &nbsp;&nbsp; 4.25% 12/15/25 | 4700000 | 4695885 |
| &nbsp;&nbsp; 4.38% 12/15/28 | 4200000 | 4185028 |
| &nbsp;&nbsp; =Constellation <br> Pharmaceutical, Inc. 5.55% <br> 7/1/33<br>| 5886678 | 6016906 |
|  |  | **14897819** |
| **Pipelines–0.53%** | **Pipelines–0.53%** | **Pipelines–0.53%** |
| ONEOK, Inc. 4.40% 10/15/29 | 2700000 | 2698063 |
| &nbsp;&nbsp; South Bow USA <br> Infrastructure Holdings LLC <br> 4.91% 9/1/27<br>| 2000000 | 2017121 |
|  |  | **4715184** |
| **Real Estate–0.07%** | **Real Estate–0.07%** | **Real Estate–0.07%** |
| &nbsp;&nbsp; Lendlease Finance Ltd. 3.40% <br> 10/27/27<br>| 1000000 | 639804 |
|  |  | **639804** |
| **Real Estate Investment Trusts–2.06%** | **Real Estate Investment Trusts–2.06%** | **Real Estate Investment Trusts–2.06%** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp; 1.60% 4/15/26 | 7400000 | 7299816 |
| &nbsp;&nbsp; 5.00% 1/31/30 | 1700000 | 1739702 |
| &nbsp;&nbsp; Crown Castle, Inc. 3.70% <br> 6/15/26<br>| 6500000 | 6475950 |
| &nbsp;&nbsp; VICI Properties LP/VICI <br> Note Co., Inc. 4.50% 9/1/26<br>| 1100000 | 1099962 |
| &nbsp;&nbsp; Weyerhaeuser Co. 4.75% <br> 5/15/26<br>| 1667000 | 1671434 |
|  |  | **18286864** |
| **Semiconductors–0.70%** | **Semiconductors–0.70%** | **Semiconductors–0.70%** |
| Broadcom, Inc. 3.46% 9/15/26 | 6253000 | 6224768 |
|  |  | **6224768** |
| **Shipbuilding–0.50%** | **Shipbuilding–0.50%** | **Shipbuilding–0.50%** |
| &nbsp;&nbsp; Huntington Ingalls <br> Industries, Inc. 5.35% <br> 1/15/30<br>| 4300000 | 4431328 |
|  |  | **4431328** |
| **Software–0.41%** | **Software–0.41%** | **Software–0.41%** |
| Oracle Corp. 1.65% 3/25/26 | 3700000 | 3656272 |
|  |  | **3656272** |
| **Telecommunications–0.99%** | **Telecommunications–0.99%** | **Telecommunications–0.99%** |
| NBN Co. Ltd. 1.00% 12/3/25 | 8750000 | 5760289 |
| &nbsp;&nbsp; Rogers Communications, Inc. <br> 3.20% 3/15/27<br>| 3100000 | 3055792 |
|  |  | **8816081** |

---

*LVIP PIMCO Low Duration Bond Fund–4*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** | **CORPORATE BONDS (continued)** |
| **Transportation–0.14%** | **Transportation–0.14%** | **Transportation–0.14%** |
| &nbsp;&nbsp; Canadian Pacific Railway Co. <br> 3.13% 6/1/26<br>| 1200000 | $1189976 |
|  |  | **1189976** |
| **Total Corporate Bonds** <br>**(Cost $290,825,480)** | **Total Corporate Bonds** <br>**(Cost $290,825,480)** | **291983990** |
| **MUNICIPAL BONDS–0.53%** | **MUNICIPAL BONDS–0.53%** | **MUNICIPAL BONDS–0.53%** |
| &nbsp;&nbsp; County of Williamson 0.92% <br> 2/15/27<br>| 2200000 | 2118493 |
| &nbsp;&nbsp; •Tulane University Series C <br> 4.77% 2/15/36<br>| 2820000 | 2625072 |
| **Total Municipal Bonds** <br>**(Cost $4,696,767)** | **Total Municipal Bonds** <br>**(Cost $4,696,767)** | **4743565** |
| **NON-AGENCY ASSET-BACKED SECURITIES–26.58%** | **NON-AGENCY ASSET-BACKED SECURITIES–26.58%** | **NON-AGENCY ASSET-BACKED SECURITIES–26.58%** |
| &nbsp;&nbsp; •37 Capital CLO 1 Ltd. Series <br> 2021-1A Class AR 5.60% (3 <br> mo. USD Term SOFR + <br> 1.28%) 10/15/34<br>| 3400000 | 3403189 |
| &nbsp;&nbsp; •522 Funding CLO Ltd. Series <br> 2018-3A Class AR 5.63% (3 <br> mo. USD Term SOFR + <br> 1.30%) 10/20/31<br>| 159611 | 159712 |
| &nbsp;&nbsp; •Accredited Mortgage Loan <br> Trust Series 2004-3 Class <br> 2A2 5.47% (1 mo. USD Term <br> SOFR + 1.31%) 10/25/34<br>| 2635 | 2614 |
| &nbsp;&nbsp; •ACREC LLC Series 2023-FL2 <br> Class A 6.38% (1 mo. USD <br> Term SOFR + 2.23%) <br> 2/19/38<br>| 626508 | 628125 |
| &nbsp;&nbsp; •AGL CLO 14 Ltd. Series <br> 2021-14A Class AR 5.46% (3 <br> mo. USD Term SOFR + <br> 1.13%) 12/2/34<br>| 3500000 | 3501880 |
| &nbsp;&nbsp; •AlbaCore Euro CLO IV DAC <br> Series 4A Class AR 3.02% (3 <br> mo. EURIBOR + 0.99%) <br> 7/15/35<br>| 1650000 | 1939700 |
| &nbsp;&nbsp; •Amortizing Residential <br> Collateral Trust Series <br> 2004-1 Class A5 5.27% (1 mo. <br> USD Term SOFR + 1.11%) <br> 10/25/34<br>| 21817 | 21937 |
| •Arbor Realty Commercial Real Estate Notes Ltd. | •Arbor Realty Commercial Real Estate Notes Ltd. | •Arbor Realty Commercial Real Estate Notes Ltd. |
| &nbsp;&nbsp;&nbsp; Series 2021-FL3 Class A <br> 5.33% (1 mo. USD Term <br> SOFR + 1.18%) 8/15/34<br>| 217236 | 217234 |
| &nbsp;&nbsp;&nbsp; Series 2021-FL4 Class A <br> 5.61% (1 mo. USD Term <br> SOFR + 1.46%) 11/15/36<br>| 1534839 | 1534832 |
| &nbsp;&nbsp; •Asset-Backed Securities Corp. <br> Home Equity Loan Trust <br> Series 2004-HE2 Class M1 <br> 5.10% (1 mo. USD Term <br> SOFR + 0.94%) 4/25/34<br>| 1280684 | 1355833 |
| &nbsp;&nbsp; Avis Budget Rental Car <br> Funding AESOP LLC Series <br> 2023-7A Class A 5.90% <br> 8/21/28<br>| 7600000 | 7808128 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; BA Credit Card Trust Series <br> 2023-A2 Class A2 4.98% <br> 11/15/28<br>| 4300000 | $4352764 |
| •Bain Capital Credit CLO Ltd. | •Bain Capital Credit CLO Ltd. | •Bain Capital Credit CLO Ltd. |
| &nbsp;&nbsp;&nbsp; Series 2019-3A Class ARR <br> 5.36% (3 mo. USD Term <br> SOFR + 1.03%) 10/21/34<br>| 3500000 | 3502800 |
| &nbsp;&nbsp;&nbsp; Series 2021-6A Class A1R <br> 5.42% (3 mo. USD Term <br> SOFR + 1.09%) 10/21/34<br>| 3500000 | 3503465 |
| &nbsp;&nbsp; •Bain Capital Euro CLO DAC <br> Series 2018-2A Class AR <br> 2.76% (3 mo. EURIBOR + <br> 0.74%) 1/20/32<br>| 1287696 | 1509941 |
| &nbsp;&nbsp; Bank of America Auto Trust <br> Series 2023-1A Class A3 <br> 5.53% 2/15/28<br>| 2457607 | 2477512 |
| &nbsp;&nbsp; •Bear Stearns Asset-Backed <br> Securities I Trust Series <br> 2005-AQ1 Class M3 5.40% (1 <br> mo. USD Term SOFR + <br> 1.24%) 3/25/35<br>| 140467 | 140265 |
| &nbsp;&nbsp; •Bear Stearns Asset-Backed <br> Securities Trust Series <br> 2003-2 Class A3 5.77% (1 mo. <br> USD Term SOFR + 1.61%) <br> 3/25/43<br>| 24977 | 25087 |
| &nbsp;&nbsp; BMW Vehicle Lease Trust <br> Series 2023-2 Class A3 5.99% <br> 9/25/26<br>| 387238 | 387916 |
| &nbsp;&nbsp; Capital One Multi-Asset <br> Execution Trust Series <br> 2022-A3 Class A 4.95% <br> 10/15/27<br>| 4000000 | 4001355 |
| &nbsp;&nbsp; CARDS II Trust Series <br> 2025-1A Class A 4.63% <br> 3/15/31<br>| 4000000 | 4037458 |
| •Carlyle Euro CLO DAC | •Carlyle Euro CLO DAC | •Carlyle Euro CLO DAC |
| &nbsp;&nbsp;&nbsp; Series 2017-3A Class A1R <br> 2.73% (3 mo. EURIBOR + <br> 0.70%) 1/15/31<br>| 387784 | 454832 |
| &nbsp;&nbsp;&nbsp; Series 2019-2A Class A1R <br> 2.93% (3 mo. EURIBOR + <br> 0.89%) 8/15/32<br>| 2250008 | 2640456 |
| CarMax Auto Owner Trust | CarMax Auto Owner Trust | CarMax Auto Owner Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-4 Class A3 6.00% <br> 7/17/28<br>| 5709551 | 5786046 |
| &nbsp;&nbsp;&nbsp; Series 2024-4 Class A2A <br> 4.67% 12/15/27<br>| 1574610 | 1577489 |
| &nbsp;&nbsp;&nbsp; Series 2025-1 Class A3 4.84% <br> 1/15/30<br>| 4000000 | 4060814 |
| &nbsp;&nbsp; •Cars Alliance Auto Loans <br> Germany V Series 2024-G1V <br> Class A 2.43% (1 mo. <br> EURIBOR + 0.52%) 1/18/36<br>| 4266662 | 5014728 |
| Carvana Auto Receivables Trust | Carvana Auto Receivables Trust | Carvana Auto Receivables Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-P4 Class A3 <br> 4.64% 1/10/30<br>| 1300000 | 1308561 |
| &nbsp;&nbsp;&nbsp; Series 2025-P1 Class A3 <br> 4.55% 5/10/30<br>| 3000000 | 3022850 |

---

*LVIP PIMCO Low Duration Bond Fund–5*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-AA Class A3 <br> 5.68% 1/25/29<br>| 1689078 | $1708766 |
| &nbsp;&nbsp;&nbsp; Series 2024-5A Class A3 <br> 4.18% 8/27/29<br>| 800000 | 802228 |
| Citizens Auto Receivables Trust | Citizens Auto Receivables Trust | Citizens Auto Receivables Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-1 Class A4 5.78% <br> 10/15/30<br>| 4735000 | 4826201 |
| &nbsp;&nbsp;&nbsp; Series 2023-2 Class A3 5.83% <br> 2/15/28<br>| 1610575 | 1623304 |
| &nbsp;&nbsp; •Countrywide Asset-Backed <br> Certificates Trust Series <br> 2004-6 Class 1A1 4.81% (1 <br> mo. USD Term SOFR + <br> 0.65%) 12/25/34<br>| 1043864 | 1017005 |
| &nbsp;&nbsp; •Cumulus Static CLO DAC <br> Series 2024-1A Class A 3.24% <br> (3 mo. EURIBOR + 1.20%) <br> 11/15/33<br>| 2533403 | 2977799 |
| &nbsp;&nbsp; •Dryden 27 R Euro CLO DAC <br> Series 2017-27A Class AR <br> 2.69% (3 mo. EURIBOR + <br> 0.66%) 4/15/33<br>| 1289297 | 1510014 |
| &nbsp;&nbsp; •Dryden 95 CLO Ltd. Series <br> 2021-95A Class AR 5.24% (3 <br> mo. USD Term SOFR + <br> 1.04%) 8/20/34<br>| 3500000 | 3498999 |
| &nbsp;&nbsp; •Elevation CLO Ltd. Series <br> 2018-3A Class A1R2 5.62% (3 <br> mo. USD Term SOFR + <br> 1.30%) 1/25/35<br>| 3000000 | 2997081 |
| &nbsp;&nbsp; ELFI Graduate Loan <br> Program LLC Series 2021-A <br> Class A 1.53% 12/26/46<br>| 1890171 | 1692842 |
| Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC | Enterprise Fleet Financing LLC |
| &nbsp;&nbsp;&nbsp; Series 2022-4 Class A2 5.76% <br> 10/22/29<br>| 1054143 | 1059198 |
| &nbsp;&nbsp;&nbsp; Series 2023-1 Class A2 5.51% <br> 1/22/29<br>| 765586 | 767738 |
| &nbsp;&nbsp; •FACT SA Series 2024-1 <br> Class A 2.58% (1 mo. <br> EURIBOR + 0.65%) 9/22/31<br>| 3388847 | 3990674 |
| &nbsp;&nbsp; •Finance America Mortgage <br> Loan Trust Series 2004-2 <br> Class M1 5.10% (1 mo. USD <br> Term SOFR + 0.94%) <br> 8/25/34<br>| 265499 | 255037 |
| &nbsp;&nbsp; Ford Auto Securitization <br> Trust II Series 2024-BA <br> Class A2 3.72% 11/15/28<br>| 1450000 | 1049393 |
| Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust | Ford Credit Auto Owner Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-1 Class A 4.85% <br> 8/15/35<br>| 6000000 | 6105751 |
| &nbsp;&nbsp;&nbsp; Series 2023-2 Class A 5.28% <br> 2/15/36<br>| 3400000 | 3508070 |
| &nbsp;&nbsp; •Gallatin CLO VIII Ltd. Series <br> 2017-1A Class A1R 5.67% (3 <br> mo. USD Term SOFR + <br> 1.35%) 7/15/31<br>| 740866 | 741399 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; GM Financial Consumer <br> Automobile Receivables <br> Trust Series 2024-4 Class A3 <br> 4.40% 8/16/29<br>| 3000000 | $3020653 |
| &nbsp;&nbsp; •GoldenTree Loan <br> Management U.S. CLO 8 Ltd. <br> Series 2020-8A Class ARR <br> 5.48% (3 mo. USD Term <br> SOFR + 1.15%) 10/20/34<br>| 3000000 | 3003195 |
| &nbsp;&nbsp; •Greywolf CLO III Ltd. Series <br> 2020-3RA Class A1R2 5.56% <br> (3 mo. USD Term SOFR + <br> 1.23%) 4/22/33<br>| 3900875 | 3903797 |
| &nbsp;&nbsp; •Harvest CLO XVI DAC Series <br> 16A Class ARR 2.67% (3 mo. <br> EURIBOR + 0.64%) <br> 10/15/31<br>| 1953845 | 2288226 |
| &nbsp;&nbsp; Harvest CLO XXI DAC Series <br> 21A Class A2R 1.04% <br> 7/15/31<br>| 1385518 | 1601857 |
| &nbsp;&nbsp; Honda Auto Receivables <br> Owner Trust Series 2024-4 <br> Class A3 4.33% 5/15/29<br>| 3300000 | 3317939 |
| Huntington Auto Trust | Huntington Auto Trust | Huntington Auto Trust |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class A2 <br> 5.50% 3/15/27<br>| 131362 | 131412 |
| &nbsp;&nbsp;&nbsp; Series 2024-1A Class A3 <br> 5.23% 1/16/29<br>| 2000000 | 2022118 |
| &nbsp;&nbsp; Hyundai Auto Lease <br> Securitization Trust Series <br> 2025-A Class A3 4.83% <br> 1/18/28<br>| 3500000 | 3539443 |
| &nbsp;&nbsp; Hyundai Auto Receivables <br> Trust Series 2024-C Class A3 <br> 4.41% 5/15/29<br>| 2500000 | 2519027 |
| &nbsp;&nbsp; •Invesco Euro CLO I DAC <br> Series 1A Class A1R 2.68% <br> (3 mo. EURIBOR + 0.65%) <br> 7/15/31<br>| 633834 | 741532 |
| &nbsp;&nbsp; •KKR CLO 36 Ltd. Series 36A <br> Class AR 5.32% (3 mo. USD <br> Term SOFR + 1.15%) <br> 10/15/34<br>| 1000000 | 999993 |
| &nbsp;&nbsp; Kubota Credit Owner Trust <br> Series 2023-2A Class A3 <br> 5.28% 1/18/28<br>| 3141028 | 3167117 |
| &nbsp;&nbsp; •LCM Loan Income Fund I <br> Ltd. Series 1A Class A 5.62% <br> (3 mo. USD Term SOFR + <br> 1.29%) 4/20/31<br>| 184010 | 184044 |
| &nbsp;&nbsp; •LoanCore Issuer Ltd. Series <br> 2021-CRE5 Class A 5.56% (1 <br> mo. USD Term SOFR + <br> 1.41%) 7/15/36<br>| 36400 | 36400 |
| &nbsp;&nbsp; Master Credit Card Trust II <br> Series 2023-1A Class A 4.70% <br> 6/21/27<br>| 4000000 | 4004280 |
| &nbsp;&nbsp; MBarc Credit Canada, Inc. <br> Series 2024-AA Class A2 <br> 5.30% 10/15/26<br>| 524299 | 377109 |

---

*LVIP PIMCO Low Duration Bond Fund–6*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| &nbsp;&nbsp; •MF1 Ltd. Series 2020-FL4 <br> Class A 5.96% (1 mo. USD <br> Term SOFR + 1.81%) <br> 12/15/35<br>| 393311 | $393932 |
| &nbsp;&nbsp; •Mountain View CLO XVI Ltd. <br> Series 2022-1A Class A1R <br> 5.78% (3 mo. USD Term <br> SOFR + 1.46%) 4/15/34<br>| 3000000 | 3001467 |
| &nbsp;&nbsp; •Navesink CLO 2 Ltd. Series <br> 2024-2A Class A1 5.59% (3 <br> mo. USD Term SOFR + <br> 1.27%) 4/15/36<br>| 3500000 | 3493781 |
| &nbsp;&nbsp; Navient Private Education <br> Loan Trust Series 2020-A <br> Class A2A 2.46% 11/15/68<br>| 1068424 | 1033084 |
| Navient Private Education Refi Loan Trust | Navient Private Education Refi Loan Trust | Navient Private Education Refi Loan Trust |
| &nbsp;&nbsp;&nbsp; Series 2020-HA Class A <br> 1.31% 1/15/69<br>| 559606 | 529594 |
| &nbsp;&nbsp;&nbsp; Series 2020-IA Class A1A <br> 1.33% 4/15/69<br>| 1151745 | 1067242 |
| &nbsp;&nbsp;&nbsp; Series 2021-GA Class A <br> 1.58% 4/15/70<br>| 1523408 | 1376861 |
| &nbsp;&nbsp;&nbsp; Series 2022-A Class A 2.23% <br> 7/15/70<br>| 2761396 | 2520641 |
| &nbsp;&nbsp; Navient Refinance Loan Trust <br> Series 2025-A Class A 5.15% <br> 2/16/55<br>| 2420120 | 2449269 |
| &nbsp;&nbsp; Navient Student Loan Trust <br> Series 2023-BA Class A1A <br> 6.48% 3/15/72<br>| 941007 | 966895 |
| Nelnet Student Loan Trust | Nelnet Student Loan Trust | Nelnet Student Loan Trust |
| &nbsp;&nbsp;&nbsp; Series 2025-BA Class A1A <br> 4.84% 5/17/55<br>| 2300000 | 2316209 |
| &nbsp;&nbsp;&nbsp; Series 2025-CA Class A1A <br> 4.67% 6/22/65<br>| 4200000 | 4201304 |
| &nbsp;&nbsp; •OFSI BSL X Ltd. Series <br> 2021-10A Class AR 5.60% (3 <br> mo. USD Term SOFR + <br> 1.27%) 4/20/34<br>| 4000000 | 4003108 |
| &nbsp;&nbsp; PFS Financing Corp. Series <br> 2023-C Class A 5.52% <br> 10/15/28<br>| 5000000 | 5072640 |
| &nbsp;&nbsp; Post Road Equipment <br> Finance LLC Series 2025-1A <br> Class A2 4.90% 5/15/31<br>| 1200000 | 1209396 |
| &nbsp;&nbsp; •Recette CLO Ltd. Series <br> 2015-1A Class ARR 5.67% (3 <br> mo. USD Term SOFR + <br> 1.34%) 4/20/34<br>| 1000000 | 1001250 |
| &nbsp;&nbsp; •Rockford Tower CLO Ltd. <br> Series 2021-2A Class A1R <br> 5.29% (3 mo. USD Term <br> SOFR + 1.13%) 7/20/34<br>| 2300000 | 2300840 |
| SMB Private Education Loan Trust | SMB Private Education Loan Trust | SMB Private Education Loan Trust |
| &nbsp;&nbsp;&nbsp; Series 2020-A Class A2A <br> 2.23% 9/15/37<br>| 907055 | 879875 |
| &nbsp;&nbsp;&nbsp; •Series 2020-PTA Class A2B <br> 5.12% (1 mo. USD Term <br> SOFR + 0.96%) 9/15/54<br>| 1891142 | 1884457 |
| &nbsp;&nbsp;&nbsp; Series 2022-C Class A1A <br> 4.48% 5/16/50<br>| 1594742 | 1591072 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** | **NON-AGENCY ASSET-BACKED SECURITIES (continued)** |
| SMB Private Education Loan Trust (continued) | SMB Private Education Loan Trust (continued) | SMB Private Education Loan Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2023-C Class A1A <br> 5.67% 11/15/52<br>| 3301008 | $3390840 |
| &nbsp;&nbsp;&nbsp; Series 2024-A Class A1A <br> 5.24% 3/15/56<br>| 819914 | 837411 |
| &nbsp;&nbsp;&nbsp; •Series 2024-A Class A1B <br> 5.82% (30 day USD SOFR <br> Average + 1.45%) 3/15/56<br>| 3525631 | 3564060 |
| &nbsp;&nbsp;&nbsp; Series 2024-C Class A1A <br> 5.50% 6/17/52<br>| 1835790 | 1889482 |
| &nbsp;&nbsp;&nbsp; Series 2024-D Class A1A <br> 5.38% 7/15/53<br>| 2143355 | 2198627 |
| &nbsp;&nbsp;&nbsp; Series 2024-E Class A1A <br> 5.09% 10/16/56<br>| 685719 | 694391 |
| &nbsp;&nbsp; SoFi Consumer Loan Program <br> Trust Series 2025-1 Class A <br> 4.80% 2/27/34<br>| 1776162 | 1785037 |
| &nbsp;&nbsp; •Starwood Ltd. Series <br> 2022-FL3 Class A 5.72% (30 <br> day USD SOFR Average + <br> 1.35%) 11/15/38<br>| 159480 | 159405 |
| &nbsp;&nbsp; Synchrony Card Funding LLC <br> Series 2023-A1 Class A 5.54% <br> 7/15/29<br>| 7300000 | 7384060 |
| &nbsp;&nbsp; Tesla Auto Lease Trust Series <br> 2023-B Class A3 6.13% <br> 9/21/26<br>| 652969 | 654100 |
| &nbsp;&nbsp; •Toro European CLO 6 DAC <br> Series 6A Class AR 2.92% (3 <br> mo. EURIBOR + 0.92%) <br> 1/12/32<br>| 2604596 | 3052779 |
| &nbsp;&nbsp; Toyota Auto Receivables <br> Owner Trust Series 2023-C <br> Class A3 5.16% 4/17/28<br>| 3179956 | 3200153 |
| &nbsp;&nbsp; Toyota Lease Owner Trust <br> Series 2025-A Class A3 4.75% <br> 2/22/28<br>| 8000000 | 8087054 |
| &nbsp;&nbsp; •^Trinitas CLO VI Ltd. Series <br> 2017-6A Class AR4 0.00% <br> (1.11% minus 3 mo. USD <br> Term SOFR) 1/25/34<br>| 4400000 | 4400000 |
| &nbsp;&nbsp; •Venture XXVII CLO Ltd. <br> Series 2017-27A Class AR <br> 5.64% (3 mo. USD Term <br> SOFR + 1.31%) 7/20/30<br>| 30661 | 30663 |
| &nbsp;&nbsp; Verizon Master Trust Series <br> 2024-1 Class A1A 5.00% <br> 12/20/28<br>| 5800000 | 5810562 |
| &nbsp;&nbsp; •Wellfleet CLO Ltd. Series <br> 2021-2A Class A1R 5.44% (3 <br> mo. USD Term SOFR + <br> 1.15%) 7/15/34<br>| 4300000 | 4303019 |
| **Total Non-Agency Asset-Backed Securities** <br>**(Cost $235,023,992)** | **Total Non-Agency Asset-Backed Securities** <br>**(Cost $235,023,992)** | **236101724** |
| **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–2.92%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–2.92%** | **NON-AGENCY COLLATERALIZED MORTGAGE** <br> **OBLIGATIONS–2.92%** |
| &nbsp;&nbsp; •Bear Stearns ARM Trust <br> Series 2003-1 Class 5A1 <br> 6.33% 4/25/33<br>| 9950 | 9649 |
| =Beignet 6.85% 6/1/49 | 1300000 | 1300000 |

---

*LVIP PIMCO Low Duration Bond Fund–7*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| &nbsp;&nbsp; •GCAT Trust Series 2022-HX1 <br> Class A1 2.89% 12/27/66<br>| 1154611 | $1090053 |
| &nbsp;&nbsp; •Gemgarto PLC Series 2021-1A <br> Class A 4.87% (1 day GBP <br> SONIA + 0.89%) 12/16/67<br>| 100088 | 134692 |
| &nbsp;&nbsp; •GS Mortgage-Backed <br> Securities Trust Series <br> 2024-PJ7 Class A25 5.70% <br> (30 day USD SOFR Average <br> + 1.35%) 11/25/54<br>| 1576415 | 1581735 |
| &nbsp;&nbsp; •GSR Mortgage Loan Trust <br> Series 2005-5F Class 8A1 <br> 4.77% (1 mo. USD Term <br> SOFR + 0.61%) 6/25/35<br>| 94081 | 91083 |
| &nbsp;&nbsp; •Merrill Lynch Mortgage <br> Investors Trust Series <br> 2003-A3 Class 1A 5.85% <br> 5/25/33<br>| 2611 | 2515 |
| MFA Trust | MFA Trust | MFA Trust |
| &nbsp;&nbsp;&nbsp; •Series 2020-NQM2 Class A1 <br> 1.38% 4/25/65<br>| 211196 | 204872 |
| &nbsp;&nbsp;&nbsp; •Series 2021-RPL1 Class A1 <br> 1.13% 7/25/60<br>| 1438598 | 1319322 |
| &nbsp;&nbsp;&nbsp; φSeries 2023-NQM4 Class A1 <br> 6.11% 12/25/68<br>| 633998 | 639522 |
| &nbsp;&nbsp; •New Residential Mortgage <br> Loan Trust Series 2018-3A <br> Class A1 4.50% 5/25/58<br>| 252154 | 246701 |
| &nbsp;&nbsp; •New York Mortgage Trust <br> Series 2005-3 Class A1 4.75% <br> (1 mo. USD Term SOFR + <br> 0.59%) 2/25/36<br>| 42201 | 41957 |
| φOBX Trust | φOBX Trust | φOBX Trust |
| &nbsp;&nbsp;&nbsp; Series 2023-NQM6 Class A1 <br> 6.52% 7/25/63<br>| 1570444 | 1582161 |
| &nbsp;&nbsp;&nbsp; Series 2024-NQM5 Class A1 <br> 5.99% 1/25/64<br>| 951077 | 960792 |
| &nbsp;&nbsp; •Oceanview Mortgage Trust <br> Series 2025-3 Class AF1 <br> 5.30% (30 day USD SOFR <br> Average + 0.95%) 5/25/55<br>| 1220874 | 1221112 |
| &nbsp;&nbsp; φPRET Trust Series 2025-RPL4 <br> Class A1 4.00% 3/25/65<br>| 3000000 | 2998269 |
| &nbsp;&nbsp; •Progress Trust Series 2020-1 <br> Class A 4.54% (1 mo. AUD <br> Bank Bill Swap + 1.00%) <br> 1/21/51<br>| 2535197 | 1678368 |
| &nbsp;&nbsp; φPRPM Trust Series <br> 2023-NQM3 Class A1 6.22% <br> 11/25/68<br>| 279623 | 282578 |
| &nbsp;&nbsp; •Sequoia Mortgage Trust <br> Series 2004-6 Class A1 4.90% <br> 7/20/34<br>| 2456 | 2277 |
| •Towd Point Mortgage Trust | •Towd Point Mortgage Trust | •Towd Point Mortgage Trust |
| &nbsp;&nbsp;&nbsp; Series 2018-5 Class A1 3.25% <br> 7/25/58<br>| 5217353 | 5055551 |
| &nbsp;&nbsp;&nbsp; Series 2019-4 Class A1 2.90% <br> 10/25/59<br>| 1556180 | 1501649 |
| &nbsp;&nbsp;&nbsp; Series 2019-HY2 Class A1 <br> 5.27% (1 mo. USD Term <br> SOFR + 1.11%) 5/25/58<br>| 424141 | 435934 |

---

---

| | | |
|:---|:---|:---|
|  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** | **NON-AGENCY COLLATERALIZED MORTGAGE OBLIGATIONS** <br> **(continued)** |
| •Towd Point Mortgage Trust (continued) | •Towd Point Mortgage Trust (continued) | •Towd Point Mortgage Trust (continued) |
| &nbsp;&nbsp;&nbsp; Series 2020-1 Class A1 2.71% <br> 1/25/60<br>| 808170 | $777279 |
| Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| &nbsp;&nbsp;&nbsp; •Series 2021-6 Class A1 1.63% <br> 10/25/66<br>| 1929097 | 1701901 |
| &nbsp;&nbsp;&nbsp; φSeries 2024-1 Class A1 5.71% <br> 1/25/69<br>| 1062603 | 1070523 |
| **Total Non-Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $26,129,287)** | **Total Non-Agency Collateralized Mortgage** <br> **Obligations** <br>**(Cost $26,129,287)** | **25930495** |
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–3.30%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–3.30%** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES–3.30%** |
| &nbsp;&nbsp; •AG Trust Series 2024-NLP <br> Class A 6.17% (1 mo. USD <br> Term SOFR + 2.02%) <br> 7/15/41<br>| 1615563 | 1620615 |
| &nbsp;&nbsp; •AREIT LLC Series 2022-CRE7 <br> Class A 6.38% (1 mo. USD <br> Term SOFR + 2.24%) <br> 6/17/39<br>| 3452774 | 3457771 |
| &nbsp;&nbsp; Benchmark Mortgage Trust <br> Series 2019-B12 Class AAB <br> 3.04% 8/15/52<br>| 4057703 | 3971173 |
| &nbsp;&nbsp; •BSREP Commercial Mortgage <br> Trust Series 2021-DC Class A <br> 5.22% (1 mo. USD Term <br> SOFR + 1.06%) 8/15/38<br>| 3152845 | 2995191 |
| &nbsp;&nbsp; •BX Trust Series 2021-MFM1 <br> Class A 4.96% (1 mo. USD <br> Term SOFR + 0.81%) <br> 1/15/34<br>| 470980 | 470832 |
| &nbsp;&nbsp; •BXMT Ltd. Series 2020-FL3 <br> Class A 6.16% (1 mo. USD <br> Term SOFR + 2.01%) <br> 11/15/37<br>| 1188885 | 1187407 |
| &nbsp;&nbsp; •CRSNT Trust Series <br> 2021-MOON Class A 5.09% (1 <br> mo. USD Term SOFR + <br> 0.93%) 4/15/36<br>| 4500000 | 4469061 |
| &nbsp;&nbsp; •GPMT Ltd. Series 2021-FL3 <br> Class A 5.75% (1 mo. USD <br> Term SOFR + 1.61%) <br> 7/16/35<br>| 640290 | 638695 |
| &nbsp;&nbsp; •JP Morgan Chase Commercial <br> Mortgage Securities Trust <br> Series 2019-FL12 Class A <br> 5.65% (1 mo. USD Term <br> SOFR + 1.50%) 12/15/31<br>| 551299 | 515558 |
| &nbsp;&nbsp; •NYO Commercial Mortgage <br> Trust Series 2021-1290 <br> Class A 5.36% (1 mo. USD <br> Term SOFR + 1.21%) <br> 11/15/38<br>| 4500000 | 4486021 |
| &nbsp;&nbsp; •One New York Plaza Trust <br> Series 2020-1NYP Class A <br> 5.22% (1 mo. USD Term <br> SOFR + 1.06%) 1/15/36<br>| 2100000 | 2060204 |

---

*LVIP PIMCO Low Duration Bond Fund–8*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| | | | |
|:---|:---|:---|:---|
|  |  | **Principal**<br> **Amount°**<br>| **Value**<br> **(U.S. $)**<br>|
| **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** | **NON-AGENCY COMMERCIAL MORTGAGE-BACKED** <br> **SECURITIES (continued)** |
| &nbsp;&nbsp; •Taurus U.K. DAC Series <br> 2021-UK1A Class A 4.84% (1 <br> day GBP SONIA + 0.85%) <br> 5/17/31<br>|  | 2581043 | $3470802 |
| **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $29,541,814)** | **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $29,541,814)** | **Total Non-Agency Commercial Mortgage-Backed** <br> **Securities** <br>**(Cost $29,541,814)** | **29343330** |
| **ΔSOVEREIGN BONDS–2.06%** | **ΔSOVEREIGN BONDS–2.06%** | **ΔSOVEREIGN BONDS–2.06%** | **ΔSOVEREIGN BONDS–2.06%** |
| **Brazil—1.17%** | **Brazil—1.17%** | **Brazil—1.17%** | **Brazil—1.17%** |
| &nbsp;&nbsp; ^Brazil Letras do Tesouro <br> Nacional 0.00% 4/1/26<br>| BRL | 59100000 | 10365208 |
|  |  |  | **10365208** |
| **Italy—0.30%** | **Italy—0.30%** | **Italy—0.30%** | **Italy—0.30%** |
| &nbsp;&nbsp; Cassa Depositi e Prestiti SpA <br> 5.88% 4/30/29<br>|  | 2500000 | 2636013 |
|  |  |  | **2636013** |
| **Luxembourg—0.59%** | **Luxembourg—0.59%** | **Luxembourg—0.59%** | **Luxembourg—0.59%** |
| &nbsp;&nbsp; Eagle Funding Luxco SARL <br> 5.50% 8/17/30<br>|  | 5200000 | 5275712 |
|  |  |  | **5275712** |
| **Total Sovereign Bonds** <br>**(Cost $18,001,028)** | **Total Sovereign Bonds** <br>**(Cost $18,001,028)** | **Total Sovereign Bonds** <br>**(Cost $18,001,028)** | **18276933** |
| **U.S. TREASURY OBLIGATIONS–7.99%** | **U.S. TREASURY OBLIGATIONS–7.99%** | **U.S. TREASURY OBLIGATIONS–7.99%** | **U.S. TREASURY OBLIGATIONS–7.99%** |
| U.S. Treasury Inflation Indexed Notes | U.S. Treasury Inflation Indexed Notes | U.S. Treasury Inflation Indexed Notes | U.S. Treasury Inflation Indexed Notes |
| &nbsp;&nbsp; 0.13% 7/15/26 |  | 7412020 | 7386108 |
| &nbsp;&nbsp; 0.13% 10/15/26 |  | 2246085 | 2233649 |
| &nbsp;&nbsp; 2.13% 4/15/29 |  | 2892905 | 2986012 |
| U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes | U.S. Treasury Notes |
| &nbsp;&nbsp; 3.63% 8/31/30 |  | 29000000 | 28850469 |
| &nbsp;&nbsp; 3.88% 6/30/30 |  | 29300000 | 29479691 |
| **Total U.S. Treasury Obligations** <br>**(Cost $70,555,967)** | **Total U.S. Treasury Obligations** <br>**(Cost $70,555,967)** | **Total U.S. Treasury Obligations** <br>**(Cost $70,555,967)** | **70935929** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Number of** <br>**Shares**<br>|  |
| **MONEY MARKET FUND–0.01%** | **MONEY MARKET FUND–0.01%** | **MONEY MARKET FUND–0.01%** |
| &nbsp;&nbsp; State Street Institutional <br> U.S. Government Money <br> Market Fund - Premier Class <br> (seven-day effective yield <br> 4.09%)<br>| 63785 | 63785 |
| **Total Money Market Fund** <br>**(Cost $63,785)** | **Total Money Market Fund** <br>**(Cost $63,785)** | **63785** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Notional** <br>**Amount**<br>| **Value**<br> **(U.S. $)**<br>|
| **OPTIONS PURCHASED–0.06%** | **OPTIONS PURCHASED–0.06%** | **OPTIONS PURCHASED–0.06%** |
| **Over-The-Counter–0.06%** | **Over-The-Counter–0.06%** | **Over-The-Counter–0.06%** |
| **Call Swaption–0.01%** | **Call Swaption–0.01%** | **Call Swaption–0.01%** |
| &nbsp;&nbsp; 1 Year Interest Rate Swap <br> Strike price $2.50, <br> expiration date 2/13/26, <br> notional amount <br> $361,900,000 JPM<br>| 361900000 | $88463 |
|  |  | **88463** |
| **Put Swaption–0.05%** | **Put Swaption–0.05%** | **Put Swaption–0.05%** |
| &nbsp;&nbsp; 1 Year Interest Rate Swap <br> Strike price $3.65, <br> expiration date 9/9/26, <br> notional amount <br> $362,700,000 MSC<br>| 362700000 | 426669 |
|  |  | **426669** |
| **Total Options Purchased** <br>**(Cost $563,559)** | **Total Options Purchased** <br>**(Cost $563,559)** | **515132** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **Principal** <br>**Amount°**<br>|  |
| **SHORT-TERM INVESTMENTS—4.36%** | **SHORT-TERM INVESTMENTS—4.36%** | **SHORT-TERM INVESTMENTS—4.36%** |
| **Discounted Commercial Paper–1.56%** | **Discounted Commercial Paper–1.56%** | **Discounted Commercial Paper–1.56%** |
| ≠Alimentation Couche-Tard, Inc. | ≠Alimentation Couche-Tard, Inc. | ≠Alimentation Couche-Tard, Inc. |
| &nbsp;&nbsp; 4.56% 10/1/25 | 8800000 | 8800000 |
| ≠Oracle Corp. | ≠Oracle Corp. | ≠Oracle Corp. |
| &nbsp;&nbsp; 4.33% 11/19/25 | 5100000 | 5069943 |
|  |  | **13869943** |
| **Repurchase Agreement–2.80%** | **Repurchase Agreement–2.80%** | **Repurchase Agreement–2.80%** |
| &nbsp;&nbsp; BofA Securities, Inc. 4.22%, <br> dated 9/30/25, to be <br> repurchased on 10/1/25, <br> repurchase price <br> $24,902,879 (collateralized <br> by U.S. Treasury Notes 4.00% <br> 6/30/28; market value <br> $25,397,789)<br>| 24900000 | 24900000 |
|  |  | **24900000** |
| **Total Short-Term** <br> **Investments** <br>**(Cost $38,769,943)**<br>|  | **38769943** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS–117.16% (Cost $1,039,124,709)** | **1040733230** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **LIABILITIES NET OF RECEIVABLES AND OTHER ASSETS–(17.16%)** | **(152408599)**<br>|
| **NET ASSETS APPLICABLE TO 92,119,744 SHARES OUTSTANDING–100.00%** | **$888324631** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

---

| |
|:---|
| °Principal amount shown is stated in U.S. dollars unless noted that the security is denominated in another currency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; •Variable rate investment. Rates reset periodically. Rate shown reflects the rate in effect at September 30, 2025. For securities based on a <br> published reference rate and spread, the reference rate and spread are indicated in their description above and may be subject to caps <br> and/or floors or include a multiplier. Certain variable rate securities are not based on a published reference rate and spread but are <br> determined by the issuer or agent and are based on current market conditions such as changes in current interest rate and prepayments <br> on the underlying pool of assets. These securities do not indicate a reference rate and spread in their description above. |

---

*LVIP PIMCO Low Duration Bond Fund–9*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ♦Pass Through Agreement. Security represents the contractual right to receive a proportionate amount of underlying payments due to the <br> counterparty pursuant to various agreements related to the rescheduling of obligations and the exchange of certain notes. |
| μFixed to variable rate investment. The rate shown reflects the fixed rate in effect at September 30, 2025. Rate will reset at a future date. |
| =The value of this security was determined using significant unobservable inputs. |
| ^Zero coupon security. |
| φStep coupon bond. Coupon increases/decreases periodically based on predetermined schedule. Stated rate in effect at September 30, 2025. |
| ΔSecurities have been classified by country of origin. |
| ≠The rate shown is the effective yield at the time of purchase. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The following foreign currency exchange contracts, futures contracts and swap contracts were outstanding at September 30, 2025:<br>

**Foreign Currency Exchange Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| BNP | AUD | &nbsp;&nbsp; (24260000)<br>| USD | &nbsp;&nbsp; 15856906 | 10/2/25 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(196427)<br>|
| BNP | AUD | &nbsp;&nbsp; (24779000)<br>| USD | &nbsp;&nbsp; 16383322 | 11/4/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (21192)<br>|
| BNP | BRL | &nbsp;&nbsp; (16904425)<br>| USD | &nbsp;&nbsp; 2819879 | 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (354741)<br>|
| BNP | BRL | &nbsp;&nbsp; 9100000 | USD | &nbsp;&nbsp; (1666387)<br>| 10/2/25 | &nbsp;&nbsp; 42577 | &nbsp;&nbsp; — |
| BNP | BRL | &nbsp;&nbsp; 7804425 | USD | &nbsp;&nbsp; (1467383)<br>| 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1726)<br>|
| BNP | BRL | &nbsp;&nbsp; 699614 | USD | &nbsp;&nbsp; (130615)<br>| 11/4/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (303)<br>|
| BNP | BRL | &nbsp;&nbsp; (9700000)<br>| USD | &nbsp;&nbsp; 1700717 | 4/2/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (43301)<br>|
| BNP | CNH | &nbsp;&nbsp; (2619658)<br>| USD | &nbsp;&nbsp; 367822 | 10/16/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (131)<br>|
| BNP | GBP | &nbsp;&nbsp; 1717000 | USD | &nbsp;&nbsp; (2318512)<br>| 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (9292)<br>|
| BNP | IDR | &nbsp;&nbsp; (6262951943)<br>| USD | &nbsp;&nbsp; 380000 | 10/8/25 | &nbsp;&nbsp; 4559 | &nbsp;&nbsp; — |
| BNP | IDR | &nbsp;&nbsp; 6262951943 | USD | &nbsp;&nbsp; (375341)<br>| 10/8/25 | &nbsp;&nbsp; 100 | &nbsp;&nbsp; — |
| BNP | IDR | &nbsp;&nbsp; (1647724430)<br>| USD | &nbsp;&nbsp; 100000 | 10/20/25 | &nbsp;&nbsp; 1267 | &nbsp;&nbsp; — |
| BNP | IDR | &nbsp;&nbsp; 26923196467 | USD | &nbsp;&nbsp; (1636379)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (23227)<br>|
| BNP | IDR | &nbsp;&nbsp; (6262951943)<br>| USD | &nbsp;&nbsp; 374198 | 12/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (341)<br>|
| BNP | ILS | &nbsp;&nbsp; 704000 | USD | &nbsp;&nbsp; (209809)<br>| 11/13/25 | &nbsp;&nbsp; 2747 | &nbsp;&nbsp; — |
| BNP | INR | &nbsp;&nbsp; (7918002)<br>| USD | &nbsp;&nbsp; 90000 | 10/20/25 | &nbsp;&nbsp; 982 | &nbsp;&nbsp; — |
| BNP | KRW | &nbsp;&nbsp; 277600000 | USD | &nbsp;&nbsp; (200000)<br>| 10/10/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2227)<br>|
| BNP | KRW | &nbsp;&nbsp; (277600000)<br>| USD | &nbsp;&nbsp; 199255 | 10/10/25 | &nbsp;&nbsp; 1481 | &nbsp;&nbsp; — |
| BNP | KRW | &nbsp;&nbsp; (1492850370)<br>| USD | &nbsp;&nbsp; 1073575 | 10/22/25 | &nbsp;&nbsp; 9428 | &nbsp;&nbsp; — |
| BNP | KRW | &nbsp;&nbsp; 277600000 | USD | &nbsp;&nbsp; (199372)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1490)<br>|
| BNP | MXN | &nbsp;&nbsp; 12343000 | USD | &nbsp;&nbsp; (638013)<br>| 12/17/25 | &nbsp;&nbsp; 30358 | &nbsp;&nbsp; — |
| BNP | PLN | &nbsp;&nbsp; 116343 | USD | &nbsp;&nbsp; (31912)<br>| 10/22/25 | &nbsp;&nbsp; 87 | &nbsp;&nbsp; — |
| BNP | PLN | &nbsp;&nbsp; 232993 | USD | &nbsp;&nbsp; (64131)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (48)<br>|
| BNP | SGD | &nbsp;&nbsp; (2533384)<br>| USD | &nbsp;&nbsp; 1977175 | 10/2/25 | &nbsp;&nbsp; 12905 | &nbsp;&nbsp; — |
| BNP | THB | &nbsp;&nbsp; (2738033)<br>| USD | &nbsp;&nbsp; 84670 | 10/20/25 | &nbsp;&nbsp; 32 | &nbsp;&nbsp; — |
| BNP | THB | &nbsp;&nbsp; 2582947 | USD | &nbsp;&nbsp; (80000)<br>| 10/20/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (156)<br>|
| BNP | TWD | &nbsp;&nbsp; (4594665)<br>| USD | &nbsp;&nbsp; 150000 | 10/7/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (838)<br>|
| BNP | TWD | &nbsp;&nbsp; 4596324 | USD | &nbsp;&nbsp; (150847)<br>| 10/7/25 | &nbsp;&nbsp; 45 | &nbsp;&nbsp; — |
| BNP | TWD | &nbsp;&nbsp; (77345725)<br>| USD | &nbsp;&nbsp; 2595116 | 10/20/25 | &nbsp;&nbsp; 53208 | &nbsp;&nbsp; — |
| BNP | TWD | &nbsp;&nbsp; (2434939)<br>| USD | &nbsp;&nbsp; 81135 | 12/15/25 | &nbsp;&nbsp; 741 | &nbsp;&nbsp; — |
| BNP | TWD | &nbsp;&nbsp; (4551824)<br>| USD | &nbsp;&nbsp; 150847 | 1/22/26 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; — |
| GSB | BRL | &nbsp;&nbsp; (51566301)<br>| USD | &nbsp;&nbsp; 8770784 | 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (913275)<br>|
| GSB | BRL | &nbsp;&nbsp; 40870710 | USD | &nbsp;&nbsp; (7441698)<br>| 10/2/25 | &nbsp;&nbsp; 233750 | &nbsp;&nbsp; — |
| GSB | BRL | &nbsp;&nbsp; 15300000 | USD | &nbsp;&nbsp; (2876480)<br>| 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (3168)<br>|
| GSB | BRL | &nbsp;&nbsp; (4604410)<br>| USD | &nbsp;&nbsp; 865718 | 10/2/25 | &nbsp;&nbsp; 1018 | &nbsp;&nbsp; — |
| GSB | BRL | &nbsp;&nbsp; 10543862 | USD | &nbsp;&nbsp; (1946835)<br>| 12/2/25 | &nbsp;&nbsp; 5071 | &nbsp;&nbsp; — |
| GSB | BRL | &nbsp;&nbsp; 2115086 | USD | &nbsp;&nbsp; (388588)<br>| 1/5/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (168)<br>|
| GSB | BRL | &nbsp;&nbsp; (33000000)<br>| USD | &nbsp;&nbsp; 5801742 | 4/2/26 | &nbsp;&nbsp; — | &nbsp;&nbsp; (131515)<br>|
| GSB | BRL | &nbsp;&nbsp; (16400000)<br>| USD | &nbsp;&nbsp; 2951392 | 4/2/26 | &nbsp;&nbsp; 2743 | &nbsp;&nbsp; — |
| GSB | CHF | &nbsp;&nbsp; 491673 | USD | &nbsp;&nbsp; (614877)<br>| 10/2/25 | &nbsp;&nbsp; 2914 | &nbsp;&nbsp; — |
| GSB | CNH | &nbsp;&nbsp; (10041071)<br>| USD | &nbsp;&nbsp; 1412675 | 10/16/25 | &nbsp;&nbsp; 2321 | &nbsp;&nbsp; — |
| GSB | IDR | &nbsp;&nbsp; 1793602913 | USD | &nbsp;&nbsp; (109034)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1567)<br>|
| GSB | ILS | &nbsp;&nbsp; (1770246)<br>| USD | &nbsp;&nbsp; 528113 | 10/15/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (6343)<br>|
| GSB | ILS | &nbsp;&nbsp; 337000 | USD | &nbsp;&nbsp; (100388)<br>| 10/15/25 | &nbsp;&nbsp; 1355 | &nbsp;&nbsp; — |
| GSB | ILS | &nbsp;&nbsp; 67000 | USD | &nbsp;&nbsp; (20003)<br>| 11/13/25 | &nbsp;&nbsp; 226 | &nbsp;&nbsp; — |
| GSB | INR | &nbsp;&nbsp; (4411000)<br>| USD | &nbsp;&nbsp; 50000 | 10/8/25 | &nbsp;&nbsp; 372 | &nbsp;&nbsp; — |
| GSB | INR | &nbsp;&nbsp; 20916792 | USD | &nbsp;&nbsp; (238368)<br>| 10/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (3167)<br>|
| GSB | KRW | &nbsp;&nbsp; (316547620)<br>| USD | &nbsp;&nbsp; 224135 | 10/20/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1488)<br>|

---

*LVIP PIMCO Low Duration Bond Fund–10*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

**Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Contracts to**<br> **Receive (Deliver)** | **Contracts to**<br> **Receive (Deliver)** | **In Exchange For** | **In Exchange For** | **Settlement Date** | **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| GSB | KRW | &nbsp;&nbsp; 153057307 | USD | &nbsp;&nbsp; (110555)<br>| 10/22/25 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1452)<br>|
| GSB | KRW | &nbsp;&nbsp; 316547620 | USD | &nbsp;&nbsp; (224159)<br>| 10/22/25 | &nbsp;&nbsp; 1485 | &nbsp;&nbsp; — |
| GSB | MXN | &nbsp;&nbsp; (187000)<br>| USD | &nbsp;&nbsp; 9849 | 12/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (276)<br>|
| GSB | SGD | &nbsp;&nbsp; (836000)<br>| USD | &nbsp;&nbsp; 650374 | 10/2/25 | &nbsp;&nbsp; 2177 | &nbsp;&nbsp; — |
| GSB | THB | &nbsp;&nbsp; 2586041 | USD | &nbsp;&nbsp; (80025)<br>| 10/20/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (85)<br>|
| GSB | ZAR | &nbsp;&nbsp; (3303000)<br>| USD | &nbsp;&nbsp; 190615 | 11/20/25 | &nbsp;&nbsp; 46 | &nbsp;&nbsp; — |
| JPM | AUD | &nbsp;&nbsp; (211000)<br>| USD | &nbsp;&nbsp; 137677 | 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1946)<br>|
| JPM | BRL | &nbsp;&nbsp; 1881422 | USD | &nbsp;&nbsp; (344867)<br>| 10/2/25 | &nbsp;&nbsp; 8461 | &nbsp;&nbsp; — |
| JPM | BRL | &nbsp;&nbsp; (1881422)<br>| USD | &nbsp;&nbsp; 353744 | 10/2/25 | &nbsp;&nbsp; 416 | &nbsp;&nbsp; — |
| JPM | CAD | &nbsp;&nbsp; (5477324)<br>| USD | &nbsp;&nbsp; 3963521 | 10/2/25 | &nbsp;&nbsp; 27434 | &nbsp;&nbsp; — |
| JPM | CAD | &nbsp;&nbsp; 1225000 | USD | &nbsp;&nbsp; (890324)<br>| 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (10021)<br>|
| JPM | CAD | &nbsp;&nbsp; 4256487 | USD | &nbsp;&nbsp; (3055269)<br>| 10/2/25 | &nbsp;&nbsp; 3505 | &nbsp;&nbsp; — |
| JPM | CAD | &nbsp;&nbsp; (4249734)<br>| USD | &nbsp;&nbsp; 3055269 | 11/4/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (3714)<br>|
| JPM | CHF | &nbsp;&nbsp; (24000)<br>| USD | &nbsp;&nbsp; 30084 | 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (73)<br>|
| JPM | CNH | &nbsp;&nbsp; (2613000)<br>| USD | &nbsp;&nbsp; 367944 | 10/16/25 | &nbsp;&nbsp; 926 | &nbsp;&nbsp; — |
| JPM | EUR | &nbsp;&nbsp; (23338595)<br>| USD | &nbsp;&nbsp; 27295310 | 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (108749)<br>|
| JPM | GBP | &nbsp;&nbsp; (3729799)<br>| USD | &nbsp;&nbsp; 5036602 | 10/2/25 | &nbsp;&nbsp; 20336 | &nbsp;&nbsp; — |
| JPM | GBP | &nbsp;&nbsp; (2012800)<br>| USD | &nbsp;&nbsp; 2707282 | 11/4/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (203)<br>|
| JPM | IDR | &nbsp;&nbsp; (3102415000)<br>| USD | &nbsp;&nbsp; 189323 | 10/15/25 | &nbsp;&nbsp; 3390 | &nbsp;&nbsp; — |
| JPM | IDR | &nbsp;&nbsp; 651244000 | USD | &nbsp;&nbsp; (39591)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (571)<br>|
| JPM | IDR | &nbsp;&nbsp; (1504908000)<br>| USD | &nbsp;&nbsp; 90000 | 11/3/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (135)<br>|
| JPM | ILS | &nbsp;&nbsp; 67000 | USD | &nbsp;&nbsp; (20096)<br>| 11/13/25 | &nbsp;&nbsp; 133 | &nbsp;&nbsp; — |
| JPM | INR | &nbsp;&nbsp; (8901390)<br>| USD | &nbsp;&nbsp; 100000 | 11/3/25 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; — |
| JPM | KRW | &nbsp;&nbsp; 153008900 | USD | &nbsp;&nbsp; (110521)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1452)<br>|
| JPM | KRW | &nbsp;&nbsp; (84093600)<br>| USD | &nbsp;&nbsp; 60000 | 11/3/25 | &nbsp;&nbsp; 25 | &nbsp;&nbsp; — |
| JPM | MXN | &nbsp;&nbsp; 1496647 | USD | &nbsp;&nbsp; (80344)<br>| 12/17/25 | &nbsp;&nbsp; 699 | &nbsp;&nbsp; — |
| JPM | PLN | &nbsp;&nbsp; 6945232 | USD | &nbsp;&nbsp; (1889952)<br>| 10/15/25 | &nbsp;&nbsp; 20475 | &nbsp;&nbsp; — |
| JPM | PLN | &nbsp;&nbsp; 184000 | USD | &nbsp;&nbsp; (51161)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (554)<br>|
| JPM | SEK | &nbsp;&nbsp; (765000)<br>| USD | &nbsp;&nbsp; 81539 | 10/2/25 | &nbsp;&nbsp; 270 | &nbsp;&nbsp; — |
| JPM | SGD | &nbsp;&nbsp; (411000)<br>| USD | &nbsp;&nbsp; 320824 | 10/2/25 | &nbsp;&nbsp; 2154 | &nbsp;&nbsp; — |
| JPM | ZAR | &nbsp;&nbsp; 4568306 | USD | &nbsp;&nbsp; (258260)<br>| 10/20/25 | &nbsp;&nbsp; 5878 | &nbsp;&nbsp; — |
| JPM | ZAR | &nbsp;&nbsp; (624855)<br>| USD | &nbsp;&nbsp; 35423 | 11/20/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (628)<br>|
| MSC | AUD | &nbsp;&nbsp; (308000)<br>| USD | &nbsp;&nbsp; 201193 | 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2617)<br>|
| MSC | BRL | &nbsp;&nbsp; 1313736 | USD | &nbsp;&nbsp; (240000)<br>| 10/2/25 | &nbsp;&nbsp; 6718 | &nbsp;&nbsp; — |
| MSC | BRL | &nbsp;&nbsp; (1313736)<br>| USD | &nbsp;&nbsp; 247008 | 10/2/25 | &nbsp;&nbsp; 291 | &nbsp;&nbsp; — |
| MSC | CNH | &nbsp;&nbsp; (3488441)<br>| USD | &nbsp;&nbsp; 490240 | 10/16/25 | &nbsp;&nbsp; 259 | &nbsp;&nbsp; — |
| MSC | EUR | &nbsp;&nbsp; 378000 | USD | &nbsp;&nbsp; (443906)<br>| 10/2/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (60)<br>|
| MSC | EUR | &nbsp;&nbsp; (22960595)<br>| USD | &nbsp;&nbsp; 27015431 | 11/4/25 | &nbsp;&nbsp; 332 | &nbsp;&nbsp; — |
| MSC | IDR | &nbsp;&nbsp; (3113644000)<br>| USD | &nbsp;&nbsp; 189936 | 10/15/25 | &nbsp;&nbsp; 3331 | &nbsp;&nbsp; — |
| MSC | INR | &nbsp;&nbsp; 217621876 | USD | &nbsp;&nbsp; (2465328)<br>| 10/17/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (18255)<br>|
| MSC | KRW | &nbsp;&nbsp; 316547620 | USD | &nbsp;&nbsp; (230000)<br>| 10/20/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (4376)<br>|
| MSC | PLN | &nbsp;&nbsp; 120768 | USD | &nbsp;&nbsp; (33361)<br>| 10/22/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (145)<br>|
| MSC | TWD | &nbsp;&nbsp; 10202848 | USD | &nbsp;&nbsp; (338266)<br>| 10/20/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (2957)<br>|
| MSC | TWD | &nbsp;&nbsp; (9898218)<br>| USD | &nbsp;&nbsp; 330000 | 10/20/25 | &nbsp;&nbsp; 4703 | &nbsp;&nbsp; — |
| MSC | TWD | &nbsp;&nbsp; (8670492)<br>| USD | &nbsp;&nbsp; 289673 | 12/15/25 | &nbsp;&nbsp; 3402 | &nbsp;&nbsp; — |
| **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | **Total Foreign Currency Exchange Contracts** | &nbsp;&nbsp; $527144 | &nbsp;&nbsp; $(1874400)<br>|

---

*LVIP PIMCO Low Duration Bond Fund–11*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

**Futures Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts to Buy (Sell)** | **Contracts to Buy (Sell)** | **Notional** <br>**Amount**<br>| **Notional** <br>**Cost (Proceeds)**<br>| **Expiration** <br>**Date**<br>| **Value/** <br>**Unrealized** <br>**Appreciation**<sup>1</sup> <br>| **Value/** <br>**Unrealized** <br>**Depreciation**<sup>1</sup> <br>|
| **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** | **Interest Rate Contracts:** |
| (143) | CBOT 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; $(16087500)<br>| &nbsp;&nbsp; $(16015821)<br>| &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(71679)<br>|
| 619 | CBOT 2 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 128998633 | &nbsp;&nbsp; 129041925 | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (43292)<br>|
| 4110 | CBOT 5 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; 448792736 | &nbsp;&nbsp; 448417330 | &nbsp;&nbsp; 12/31/25 | &nbsp;&nbsp; 375406 | &nbsp;&nbsp; — |
| 226 | Montreal Exchange 5 Year Canadian Bond Futures | &nbsp;&nbsp; 18726967 | &nbsp;&nbsp; 18508055 | &nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp; 218912 | &nbsp;&nbsp; — |
| 19 | SFE 10 Year Australian Bond Futures | &nbsp;&nbsp; 1425091 | &nbsp;&nbsp; 1425740 | &nbsp;&nbsp; 12/15/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (649)<br>|
| 1302 | Three-Month SOFR Futures | &nbsp;&nbsp; 312341663 | &nbsp;&nbsp; 312348979 | &nbsp;&nbsp; 12/16/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (7316)<br>|
| 889 | Three-Month SOFR Futures | &nbsp;&nbsp; 214949088 | &nbsp;&nbsp; 214872172 | &nbsp;&nbsp; 9/15/26 | &nbsp;&nbsp; 76916 | &nbsp;&nbsp; — |
| (395) | Ultra 10 Year U.S. Treasury Notes Futures | &nbsp;&nbsp; (45455859)<br>| &nbsp;&nbsp; (45243286)<br>| &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (212573)<br>|
| (171) | Ultra U.S. Treasury Bond Futures | &nbsp;&nbsp; (20530688)<br>| &nbsp;&nbsp; (19974866)<br>| &nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp; — | &nbsp;&nbsp; (555822)<br>|
| **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | **Total Futures Contracts** | &nbsp;&nbsp; $671234 | &nbsp;&nbsp; $(891331)<br>|

---

**Swap Contract**

**Credit Default Swap (CDS) Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty/**<br> **Reference**<br> **Obligation/**<br> **Payment**<br> **Frequency**<br>| **Notional**<br> **Amount**<sup>2</sup> <br>| **Annual**<br> **Protection**<br> **Payments**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **Depreciation**<br>|
| **Over-The-Counter:** |  |  |  |  |  |  |  |
| **Protection Purchased** |  |  |  |  |  |  |  |
| &nbsp;&nbsp; MSC Korea International <br> Bonds 3.75% 01/19/2027 - <br> Quarterly<br>| 6000000 | (1.00%) | 12/20/30 | $(217886) | $(234100) | $16214 | $— |

---

**Swap Contracts**

**Interest Rate Swap (IRS) Contracts** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notional**<br> **Amount**<sup>2</sup> <br>| **Fixed**<br> **Interest**<br> **Rate**<br>| **Floating**<br> **Rate Index**<br>| **Pay/Receive**<br> **Floating**<br> **Rate**<br>| **Payment**<br> **Frequency (Fixed**<br> **Rate/Floating Rate)**<br>| **Termination**<br> **Date**<br>| **Value** | **Upfront**<br> **Payments**<br> **Paid**<br> **(Received)**<br>| **Unrealized**<br> **Appreciation**<sup>1</sup> <br>| **Unrealized**<br> **Depreciation**<sup>1</sup> <br>|
| **Centrally Cleared** |  |  |  |  |  |  |  |  |  |
| AUD 7,600,000 | 4.50 | BBSW6M | Pay | Semiannual | 9/20/33 | $125322 | $(140094) | $265416 | $— |
| 10300000 | 3.75 | SOFR12M | Receive | Annual | 12/18/29 | (107707) | 14448 |  | (122155) |
| 22600000 | 3.86 | SOFR12M | Receive | Annual | 2/28/29 | (308616) |  |  | (308616) |
| 82200000 | 4.10 | SOFR12M | Receive | At Maturity | 2/11/26 | 94671 |  | 94671 |  |
| 95142000 | 3.30 | SOFR12M | Receive | Annual | 2/28/30 | 119770 | (38087) | 157857 |  |
| 310469000 | 3.33 | SOFR12M | Receive | Annual | 2/28/30 | 86186 | (1885662) | 1971848 |  |
| AUD 24,300,000 | 4.25 | BBSW6M | Pay | Semiannual | 3/18/36 | (117191) | 51124 |  | (168315) |
| GBP 15,300,000 | 3.75 | SONIA12M | Pay | Annual | 9/17/30 | (83979) | (78044) |  | (5935) |
| **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** | **Total IRS Contracts** |  | $(2076315) | $2489792 | $(605021) |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The use of foreign currency exchange contracts, futures contracts and swap contracts involves elements of market risk and risks in excess of the <br> amounts recognized in the financial statements. The foreign currency exchange contracts and notional amounts presented above represent the <br> Fund's total exposure in such contracts, whereas only the net unrealized appreciation (depreciation) is reflected in the Fund's net assets.<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> Includes cumulative appreciation (depreciation) of futures and centrally cleared swap contracts from the date the contracts were opened <br> through September 30, 2025. |
| &nbsp;&nbsp;&nbsp;&nbsp; <sup>2</sup> Notional amount shown is stated in U.S. dollars unless noted that the swap is denominated in another currency. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Summary of Abbreviations:** |
| ARM–Adjustable Rate Mortgage |
| AUD–Australian Dollar |
| BBSW6M–Bank Bill Swap Rate 6 Months |
| BNP–BNP Paribas |
| BRL–Brazilian Real |
| CA–Credit Agricole |
| CAD–Canadian Dollar |
| CBOT–Chicago Board of Trade |
| CHF–Swiss Franc |
| CLO–Collateralized Loan Obligation |
| CNH–Chinese Yuan Renminbi |
| EUR–Euro |
| EURIBOR–Euro Interbank Offer Rate |

---

*LVIP PIMCO Low Duration Bond Fund–12*

------

**LVIP PIMCO Low Duration Bond Fund**

**Schedule of Investments (continued)**

---

| |
|:---|
| **Summary of Abbreviations: (continued)** |
| GBP–British Pound Sterling |
| GS–Goldman Sachs |
| GSB–Goldman Sachs Bank USA |
| IDR–Indonesia Rupiah |
| ILS–Israeli Shekel |
| INR–Indian Rupee |
| IRS–Interest Rate Swap |
| JPM–JPMorgan Chase Bank NA |
| KRW–South Korean Won |
| MSC–Morgan Stanley & Co. |
| MXN–Mexican Peso |
| PLN–Polish Zloty |
| REMIC–Real Estate Mortgage Investment Conduits |
| SEK–Swedish Krona |
| SFE–Sydney Futures Exchange |
| SGD–Singapore Dollar |
| SOFR–Secured Overnight Financing Rate |
| SOFR12M–Secured Overnight Financing Rate 12 Months |
| SONIA–Sterling Overnight Index Average |
| SONIA12M–Sterling Overnight Index Average Offered Rate GBP 12 Month |
| TBA–To be announced |
| THB–Thailand Baht |
| TWD–Taiwan New Dollar |
| USD–United States Dollar |
| ZAR–South African Rand |

---

*LVIP PIMCO Low Duration Bond Fund–13*

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

- **b. Investment Company Act file number:** 811-08090

- **c. CIK number of Registrant:** 0000914036

- **d. LEI of Registrant:** 3EICVM5HD7FVBIM8WO57

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

  - **Street Address 1:** 1301 S. Harrison Street

  - **City:** FORT WAYNE

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46802

  - **Telephone number:** 260-455-2000

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

- **a. Name of Series:** LVIP PIMCO Low Duration Bond Fund

- **b. EDGAR series identifier (if any):** S000045002

- **c. LEI of Series:** 549300G0ZUNHVUP0B510

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $1038121457.56

**Total Liabilities:** $150379221.21

**Net Assets:** $887742236.35

**Delayed Delivery Securities:** $145092046.87

**Cash Not Reported:** $3550139.66

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -6177.72000000 | **1-Year:** -34411.89000000 | **5-Year:** -21054.30000000 | **10-Year:** -8705.22000000 | **30-Year:** -1732.61000000

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

- **3-Month:** -210.44000000 | **1-Year:** -2097.91000000 | **5-Year:** -6268.74000000 | **10-Year:** -8343.74000000 | **30-Year:** -3068.46000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000139575 | 0.13%                | 0.98%                | 0.34%                |
| Class ID C000139574 | 0.15%                | 1.00%                | 0.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $796976.13               | $-3543323.86                               |
| Month 2  | $2369672.22              | $3148054.91                                |
| Month 3  | $891545.16               | $232784.22                                 |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio is the Fund's Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HMGK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    694677 | PA      | $696726.27    | 0.08%             | 2055-08-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| AGL CLO 14, LTD.                                           | AGL CLO 14 Ltd                                                                                                        | CUSIP: 00851WAL3<br>LEI: 254900G6P36ERQHAIS15 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3501879.50   | 0.39%             | 2034-12-02      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                | MF1 2020-FL4 Ltd                                                                                                      | CUSIP: 58003UAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    393311 | PA      | $393932.33    | 0.04%             | 2035-12-15      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD ILS                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-6342.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $1266.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SKANDINAVISKA ENSKILDA                                     | Skandinaviska Enskilda Banken AB                                                                                      | CUSIP: 830505BA0<br>LEI: F3JS33DEI6XQ4ZBPTN86 | Long             | DBT              | CORP              | SE        |   2043000 | PA      | $2057515.52   | 0.23%             | 2027-03-05      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Huntington Auto Trust                                      | Huntington Auto Trust 2024-1                                                                                          | CUSIP: 446144AC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    131362 | PA      | $131412.36    | 0.01%             | 2027-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $3330.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ABN AMRO BANK NV                                           | ABN AMRO Bank NV                                                                                                      | CUSIP: 00084DBC3<br>LEI: BFXS5XCH7N0Y05NIXW11 | Long             | DBT              | CORP              | NL        |   7500000 | PA      | $7504344.15   | 0.85%             | 2026-10-13      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD INR                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $371.65       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                                                         | CUSIP: 842400JB0<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2007764.26   | 0.23%             | 2026-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BSREP Commercial Mortgage Trust 2021-DC                    | BSREP Commercial Mortgage Trust 2021-DC                                                                               | CUSIP: 05591UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3152845 | PA      | $2995191.27   | 0.34%             | 2038-08-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $-167.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Asset Backed Securities Corp Home Equity Ln Trst           | Asset Backed Securities Corp Home Equity Loan Trust Series 2004-HE2                                                   | CUSIP: 04541GHW5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1280684 | PA      | $1355833.37   | 0.15%             | 2034-04-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                   | FirstEnergy Transmission LLC                                                                                          | CUSIP: 33767BAG4<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |   3300000 | PA      | $3321117.26   | 0.37%             | 2030-01-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| AlbaCore Euro CLO                                          | AlbaCore Euro CLO IV DAC                                                                                              | CUSIP: 000000000<br>LEI: 635400OMGYX1QQYCTI48 | Long             | ABS-CBDO         | CORP              | IE        |   1650000 | PA      | $1939699.99   | 0.22%             | 2035-07-15      | Floating      | 3.02%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                                    | Canadian Natural Resources Ltd                                                                                        | CUSIP: 136385BB6<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $817745.03    | 0.09%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137FNWL0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1851654 | PA      | $1826754.97   | 0.21%             | 2038-12-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| BofA Securities, Inc.                                      | REPO BANK AMERICA                                                                                                     | CUSIP: 000000000<br>LEI: 549300HN4UKV1E2R3U73 | Long             | RA               | CORP              | US        |  24900000 | PA      | $24900000.00  | 2.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HKPJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5886832 | PA      | $5880810.81   | 0.66%             | 2055-04-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2023-C                                                                               | CUSIP: 83207DAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3301008 | PA      | $3390840.32   | 0.38%             | 2052-11-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| LoanCore 2021-CRE5 Issuer, Ltd                             | LoanCore 2021-CRE5 Issuer Ltd                                                                                         | CUSIP: 53947XAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     36400 | PA      | $36399.69     | 0.00%             | 2036-07-15      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38383KFR8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   7354956 | PA      | $7392352.65   | 0.83%             | 2073-09-20      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                 | Navient Private Education Refi Loan Trust 2021-G                                                                      | CUSIP: 63942KAA2<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |   1523408 | PA      | $1376860.61   | 0.16%             | 2070-04-15      | Fixed         | 1.58%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                   | Sumitomo Mitsui Financial Group Inc                                                                                   | CUSIP: 86562MDA5<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   4000000 | PA      | $4056524.32   | 0.46%             | 2026-07-13      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                                                                   | CUSIP: 03027XCL2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   1700000 | PA      | $1739702.48   | 0.20%             | 2030-01-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                                                         | CUSIP: 842400GJ6<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1474036.56   | 0.17%             | 2028-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD KRW                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-1488.51     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                   | Ford Motor Credit Co LLC                                                                                              | CUSIP: 345397F81<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   6200000 | PA      | $6220545.25   | 0.70%             | 2026-11-05      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Fact SA                                                    | FACT SA/LU                                                                                                            | CUSIP: 000000000<br>LEI: 529900S1VYMIDC5XAC48 | Long             | ABS-O            | CORP              | LU        |   3388847 | PA      | $3990674.35   | 0.45%             | 2031-09-22      | Floating      | 2.58%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                               | Barclays PLC                                                                                                          | CUSIP: 06738EAN5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   3000000 | PA      | $2999999.70   | 0.34%             | 2026-01-12      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AG Trust                                                   | AG Trust 2024-NLP                                                                                                     | CUSIP: 00792MAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1615563 | PA      | $1620615.19   | 0.18%             | 2041-07-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136A0J65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    536724 | PA      | $534156.30    | 0.06%             | 2041-09-25      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD KRW                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $1481.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO, LTD                     | Goldentree Loan Management US Clo 8 Ltd                                                                               | CUSIP: 38136NAY2<br>LEI: 549300LOEERRNVSKVY31 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3003195.00   | 0.34%             | 2034-10-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38385GQ77<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    593787 | PA      | $595049.16    | 0.07%             | 2055-06-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                                                                   | CUSIP: 65535HBR9<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   2200000 | PA      | $2248577.78   | 0.25%             | 2027-07-02      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                  | Towd Point Mortgage Trust 2019-HY2                                                                                    | CUSIP: 89177HAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    424141 | PA      | $435934.40    | 0.05%             | 2058-05-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                 | MFA 2021-RPL1 Trust                                                                                                   | CUSIP: 55283QAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1438598 | PA      | $1319322.15   | 0.15%             | 2060-07-25      | Variable      | 1.13%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/Ford Credit                   | Ford Credit Auto Owner Trust 2023-REV2                                                                                | CUSIP: 34535CAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3400000 | PA      | $3508070.36   | 0.40%             | 2036-02-15      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-13215.92    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                                             | Fannie Mae-Aces                                                                                                       | CUSIP: 3136AVY52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    794116 | PA      | $780446.51    | 0.09%             | 2026-12-25      | Variable      | 2.66%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BTS53<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1510930 | PA      | $1509783.77   | 0.17%             | 2054-12-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| ADVENTIST HEALTH SYS/W                                     | Adventist Health System/West                                                                                          | CUSIP: 007944AN1<br>LEI: 5493008YM33UCY5QPW83 | Long             | DBT              | CORP              | US        |   2650000 | PA      | $2651023.83   | 0.30%             | 2030-12-01      | Fixed         | 4.74%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: BWU025TR4 IRS USD R V 12MSOFR SWUV25TR6 CCPOIS / Short: BWU025TR4 IRS USD P F  3.75000 SWU025TR4 CCPOIS         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  10300000 | OU      | $-155939.73   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                 | Navient Private Education Loan Trust 2020-A                                                                           | CUSIP: 63941FAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1068424 | PA      | $1033084.12   | 0.12%             | 2068-11-15      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC                                       | BARCLAYS CAPITAL INC                                                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |  -1240000 | NS      | $-1240000.00  | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| PETRONAS ENERGY CANADA                                     | Petronas Energy Canada Ltd                                                                                            | CUSIP: 71675BAA8<br>LEI: 5493001PEB90YGTDC638 | Long             | DBT              | CORP              | CA        |   2400000 | PA      | $2292753.34   | 0.26%             | 2028-03-23      | Fixed         | 2.11%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED CHF / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | CH        |         1 | NC      | $2914.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NYO Commercial Mortgage Trust                              | NYO Commercial Mortgage Trust 2021-1290                                                                               | CUSIP: 62955HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $4486020.75   | 0.51%             | 2038-11-15      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD CNH                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $2320.88      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NBN CO LTD                                                 | NBN Co Ltd                                                                                                            | CUSIP: 000000000<br>LEI: 2549007CRZ2NT7S96A24 | Long             | DBT              | CORP              | AU        |   8750000 | PA      | $5760288.28   | 0.65%             | 2025-12-03      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-192.34      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                  | Uniform Mortgage-Backed Security, TBA                                                                                 | CUSIP: 01F0426B4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  18100000 | PA      | $17548063.85  | 1.98%             | 2055-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-5533.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED THB / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | TH        |         1 | NC      | $-156.22      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                             | Carvana Auto Receivables Trust 2024-P4                                                                                | CUSIP: 14076LAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1300000 | PA      | $1308561.41   | 0.15%             | 2030-01-10      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY CAP SVCS BOC                                | MORGAN STANLEY CAP SVCS BOC                                                                                           | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -340000 | NS      | $-340000.00   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-58021.31    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Euro CLO                                           | Carlyle Euro CLO 2019-2 DAC                                                                                           | CUSIP: 000000000<br>LEI: 63540012YBWEYXRWOE16 | Long             | ABS-CBDO         | CORP              | IE        |   2250008 | PA      | $2640455.52   | 0.30%             | 2032-08-15      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-39674.69    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED EUR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | XX        |         1 | NC      | $-60.22       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CASSA DEPOSITI E PRESTIT                                   | Cassa Depositi e Prestiti SpA                                                                                         | CUSIP: 147918AC0<br>LEI: 81560029E2CE4D14F425 | Long             | DBT              | NUSS              | IT        |   2500000 | PA      | $2636013.50   | 0.30%             | 2029-04-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                    | Dryden 95 CLO Ltd                                                                                                     | CUSIP: 262487AJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3498999.00   | 0.39%             | 2034-08-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137AX2H5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4691683 | PA      | $4034679.96   | 0.45%             | 2042-12-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Toyota Auto Receivables Owner Trust                        | Toyota Auto Receivables 2023-C Owner Trust                                                                            | CUSIP: 89231FAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3179956 | PA      | $3200153.00   | 0.36%             | 2028-04-17      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                  | Nelnet Student Loan Trust 2025-C                                                                                      | CUSIP: 64035UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4200000 | PA      | $4201304.10   | 0.47%             | 2065-06-22      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD INR                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $982.15       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ING BANK (AUSTRALIA) LTD                                   | ING Bank Australia Ltd                                                                                                | CUSIP: 000000000<br>LEI: 70UN1RCXO6LO7KWNC831 | Long             | DBT              | CORP              | AU        |   5000000 | PA      | $3312900.04   | 0.37%             | 2025-12-08      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| Invesco Euro CLO                                           | Invesco Euro CLO I DAC                                                                                                | CUSIP: 000000000<br>LEI: 549300GHZE7CYFQDBC40 | Long             | ABS-CBDO         | CORP              | IE        |    633834 | PA      | $741532.45    | 0.08%             | 2031-07-15      | Floating      | 2.68%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $3390.26      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Honda Auto Receivables Owner Trust                         | Honda Auto Receivables 2024-4 Owner Trust                                                                             | CUSIP: 43816DAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3300000 | PA      | $3317939.13   | 0.37%             | 2029-05-15      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-65722.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NOMURA HOLDINGS INC                                        | Nomura Holdings Inc                                                                                                   | CUSIP: 65535HBG3<br>LEI: 549300B3CEAHYG7K8164 | Long             | DBT              | CORP              | JP        |   1800000 | PA      | $1806846.12   | 0.20%             | 2026-01-09      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| Ford Auto Securitization Trust                             | Ford Auto Securitization Trust II                                                                                     | CUSIP: 345214BT6<br>LEI: 549300OMOD4L2OWKWN21 | Long             | ABS-O            | CORP              | CA        |   1450000 | PA      | $1049392.83   | 0.12%             | 2028-11-15      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| BMW Vehicle Lease Trust                                    | BMW Vehicle Lease Trust 2023-2                                                                                        | CUSIP: 055979AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    387238 | PA      | $387916.47    | 0.04%             | 2026-09-25      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-49099.09    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Kubota Credit Owner Trust                                  | Kubota Credit Owner Trust 2023-2                                                                                      | CUSIP: 500945AC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3141028 | PA      | $3167116.90   | 0.36%             | 2028-01-18      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD EUR                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-108748.62   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ACREC LLC                                                  | ACREC 2023-FL2 LLC                                                                                                    | CUSIP: 00501BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    626508 | PA      | $628124.71    | 0.07%             | 2038-02-19      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |         1 | NC      | $8460.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 2YR NOTE (CBT) DEC25                                                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       724 | NC      | $-27256.62    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HMGJ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1862464 | PA      | $1865468.13   | 0.21%             | 2055-08-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Chase Auto Owner Trust                                     | Chase Auto Owner Trust 2023-A                                                                                         | CUSIP: 16144KAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1689078 | PA      | $1708766.15   | 0.19%             | 2029-01-25      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                           | Greywolf CLO III Ltd                                                                                                  | CUSIP: 39809CAY0<br>LEI: 5493002TWMA4NNPZ2B66 | Long             | ABS-CBDO         | CORP              | KY        |   3900875 | PA      | $3903796.90   | 0.44%             | 2033-04-22      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136ABM83<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4426153 | PA      | $3846590.16   | 0.43%             | 2043-02-25      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Capital One Multi-Asset Execution Trust                    | Capital One Multi-Asset Execution Trust                                                                               | CUSIP: 14041NGB1<br>LEI: R42WS16M9R97TJJKGU15 | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4001355.20   | 0.45%             | 2027-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: SWU02K0M3 IRS GBP R F  3.75000 SWU02K0M3 CCPOIS / Short: SWU02K0M3 IRS GBP P V 12MSONIA SWUV2K0M5 CCPOIS        | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  15300000 | OU      | $-82261.76    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $2742.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CUMULUS STATIC CLO                                         | Cumulus Static CLO 2024-1 DAC                                                                                         | CUSIP: 000000000<br>LEI: 2549005ZFHRHIZ9ONM43 | Long             | ABS-CBDO         | CORP              | IE        |   2533403 | PA      | $2977799.09   | 0.34%             | 2033-11-15      | Floating      | 3.24%                 | No            |                  2 | On Loan: No      |
| GPMT Ltd.                                                  | GPMT 2021-FL3 Ltd                                                                                                     | CUSIP: 36264BAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    640290 | PA      | $638694.58    | 0.07%             | 2035-07-16      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Amortizing Residential Collateral Trust                    | Amortizing Residential Collateral Trust 2004-1                                                                        | CUSIP: 031733AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21817 | PA      | $21937.46     | 0.00%             | 2034-10-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                                                                  | CUSIP: 517834AE7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   4700000 | PA      | $4660954.28   | 0.53%             | 2026-08-18      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BTXD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2822224 | PA      | $2838830.59   | 0.32%             | 2053-11-25      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38384GP87<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    333436 | PA      | $333978.95    | 0.04%             | 2054-01-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HHUD1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2667650 | PA      | $2671272.14   | 0.30%             | 2054-12-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                               | Broadcom Inc                                                                                                          | CUSIP: 11135FAN1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |   6253000 | PA      | $6224767.52   | 0.70%             | 2026-09-15      | Fixed         | 3.46%                 | No            |                  2 | On Loan: No      |
| HCA Inc                                                    | HCA Inc                                                                                                               | CUSIP: 404121AH8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   8700000 | PA      | $8737442.80   | 0.98%             | 2026-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                      | Athene Global Funding                                                                                                 | CUSIP: 04686E4J8<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |    400000 | PA      | $402117.00    | 0.05%             | 2026-08-27      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED ILS / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | IL        |         1 | NC      | $585.16       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                       | Enel Finance International NV                                                                                         | CUSIP: 29278GBD9<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   1400000 | PA      | $1434185.13   | 0.16%             | 2029-06-26      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd            | Arbor Realty Commercial Real Estate Notes 2021-FL3 Ltd                                                                | CUSIP: 03880KAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    217236 | PA      | $217234.45    | 0.02%             | 2034-08-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Chase Auto Owner Trust                                     | Chase Auto Owner Trust 2024-5                                                                                         | CUSIP: 16144QAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $802227.84    | 0.09%             | 2029-08-27      | Fixed         | 4.18%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON INGALLS INDUS                                   | Huntington Ingalls Industries Inc                                                                                     | CUSIP: 446413BA3<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $4431328.19   | 0.50%             | 2030-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED KRW / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | KR        |         1 | NC      | $-1490.47     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Montreal Exchange / Bourse De Montreal                 | CAN 5YR BOND FUT DEC25                                                                                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | CA        |       226 | NC      | $218911.62    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BXMT Ltd                                                   | BXMT 2020-FL3 Ltd                                                                                                     | CUSIP: 05608XAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1188885 | PA      | $1187406.43   | 0.13%             | 2037-11-15      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HLNN8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3479682 | PA      | $3485749.59   | 0.39%             | 2055-06-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                                                           | CUSIP: 694308JF5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1249614.94   | 0.14%             | 2027-08-01      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION PHARMACEUTICAL 4                             | CONSTELLATION PHARMACEUTICAL 4                                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5886678 | PA      | $6016905.57   | 0.68%             | 2033-07-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                                   | South Bow USA Infrastructure Holdings LLC                                                                             | CUSIP: 83007CAB8<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2017121.16   | 0.23%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Freddiemac Strip                                           | Freddie Mac Strips                                                                                                    | CUSIP: 31351DC90<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1372526 | PA      | $1357793.90   | 0.15%             | 2038-02-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED PLN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | PL        |         1 | NC      | $20474.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED ILS / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | IL        |         1 | NC      | $1355.35      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD CHF                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-72.55       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                            | AREIT 2022-CRE7 LLC                                                                                                   | CUSIP: 00217VAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3452774 | PA      | $3457770.51   | 0.39%             | 2039-06-17      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                  | Towd Point Mortgage Trust 2020-1                                                                                      | CUSIP: 89178WAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    808170 | PA      | $777279.11    | 0.09%             | 2060-01-25      | Variable      | 2.71%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | BR        |         1 | NC      | $3482.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BUQH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3952495 | PA      | $3954791.06   | 0.45%             | 2055-01-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                        | 317UADSA1 PIMCO                                                                                                       | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DIR              |  | US        | 362700000 | NC      | $426669.40    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $5070.87      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Master Credit Card Trust                                   | Master Credit Card Trust II                                                                                           | CUSIP: 576339DF9<br>LEI: 549300G7G68IV2D8IM76 | Long             | ABS-O            | CORP              | CA        |   4000000 | PA      | $4004280.40   | 0.45%             | 2027-06-21      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD SGD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $1956.93      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                   | OBX 2023-NQM6 Trust                                                                                                   | CUSIP: 67117VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1570443 | PA      | $1582161.19   | 0.18%             | 2063-07-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137BBVB3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    504508 | PA      | $499343.04    | 0.06%             | 2040-01-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-52772.86    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED ZAR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | ZA        |         1 | NC      | $5877.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2020-PT-A                                                                            | CUSIP: 78449VAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1891142 | PA      | $1884457.27   | 0.21%             | 2054-09-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                                   | Santander UK Group Holdings PLC                                                                                       | CUSIP: 80281LAS4<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   8500000 | PA      | $8525170.29   | 0.96%             | 2026-11-21      | Fixed         | 6.83%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38376RZN9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    354136 | PA      | $354760.58    | 0.04%             | 2066-09-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies Euro                      | Carlyle Euro CLO 2021-2 DAC                                                                                           | CUSIP: 000000000<br>LEI: 635400GXUD5SKWFXE966 | Long             | ABS-CBDO         | CORP              | IE        |    387784 | PA      | $454831.84    | 0.05%             | 2031-01-15      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                                    | Brighthouse Financial Global Funding                                                                                  | CUSIP: 10921U2C1<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $980411.23    | 0.11%             | 2026-05-24      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | 317UA35A8 PIMCO                                                                                                       | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        | 361900000 | NC      | $88462.84     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Harvest CLO                                                | Harvest CLO XXI DAC                                                                                                   | CUSIP: 000000000<br>LEI: 635400UREZHY9PWJR290 | Long             | ABS-CBDO         | CORP              | IE        |   1385518 | PA      | $1601856.91   | 0.18%             | 2031-07-15      | Fixed         | 1.04%                 | No            |                  2 | On Loan: No      |
| COMMONSPIRIT HEALTH                                        | CommonSpirit Health                                                                                                   | CUSIP: 20268JAE3<br>LEI: 4SXHN5XW08IBO0UG2V58 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4000000.00   | 0.45%             | 2025-10-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED ILS / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | IL        |         1 | NC      | $225.75       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-864.79      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                 | Bear Stearns Asset Backed Securities Trust 2003-2                                                                     | CUSIP: 07384YJQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     24977 | PA      | $25086.49     | 0.00%             | 2043-03-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BUU65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1083714 | PA      | $1087434.50   | 0.12%             | 2053-12-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Navient Refinance Loan Trust                               | Navient Refinance Loan Trust 2025-A                                                                                   | CUSIP: 63943FAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2420120 | PA      | $2449269.10   | 0.28%             | 2055-02-16      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                              | Boeing Co/The                                                                                                         | CUSIP: 097023DP7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    500000 | PA      | $514458.83    | 0.06%             | 2027-05-01      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| Synchrony Card Issuance Trust                              | Synchrony Card Funding LLC                                                                                            | CUSIP: 87166PAK7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7300000 | PA      | $7384060.23   | 0.83%             | 2029-07-15      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| LENDLEASE FINANCE LTD                                      | Lendlease Finance Ltd                                                                                                 | CUSIP: 000000000<br>LEI: 5493002EE2IQRQ3JUP44 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $639804.30    | 0.07%             | 2027-10-27      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136B9TM9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1637134 | PA      | $1640859.08   | 0.18%             | 2050-05-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED PLN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | PL        |         1 | NC      | $-48.12       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                      | Athene Global Funding                                                                                                 | CUSIP: 04685A4B4<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1005292.50   | 0.11%             | 2026-08-27      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BUEQ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3969076 | PA      | $3961007.06   | 0.45%             | 2055-01-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| GSR MORTGAGE LOAN TRUST 2005-5F                            | GSR Mortgage Loan Trust 2005-5F                                                                                       | CUSIP: 36242D7K3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     94081 | PA      | $91082.77     | 0.01%             | 2035-06-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                                                                  | CUSIP: 78017DAG3<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1600000 | PA      | $1605626.27   | 0.18%             | 2028-03-27      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| BAT INTL FINANCE PLC                                       | BAT International Finance PLC                                                                                         | CUSIP: 05530QAN0<br>LEI: 21380041YBGOQDFAC823 | Long             | DBT              | CORP              | GB        |   5000000 | PA      | $4939432.45   | 0.56%             | 2026-03-25      | Fixed         | 1.67%                 | No            |                  2 | On Loan: No      |
| OFSI Fund LTD                                              | OFSI BSL X Ltd                                                                                                        | CUSIP: 67115PAW5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $4003108.00   | 0.45%             | 2034-04-20      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED THB / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | TH        |         1 | NC      | $-0.12        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bear Stearns Adjustable Rate Mortgage Trust                | Bear Stearns ARM Trust 2003-1                                                                                         | CUSIP: 07384MTM4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9950 | PA      | $9649.39      | 0.00%             | 2033-04-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| 37 Capital CLO Ltd                                         | 37 Capital Clo 1 Ltd                                                                                                  | CUSIP: 88430TAQ4<br>LEI: 549300GZ8MP9ZGVMJ424 | Long             | ABS-CBDO         | CORP              | KY        |   3400000 | PA      | $3403189.20   | 0.38%             | 2034-10-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Bank of America Credit Card Trust                          | BA Credit Card Trust                                                                                                  | CUSIP: 05522RDH8<br>LEI: 5493006DQ60M1CRKHH19 | Long             | ABS-O            | CORP              | US        |   4300000 | PA      | $4352764.44   | 0.49%             | 2028-11-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                     | U.S. Treasury Notes                                                                                                   | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29300000 | PA      | $29479691.33  | 3.32%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $40180.74     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                     | American Honda Finance Corp                                                                                           | CUSIP: 02665WGM7<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | DBT              | CORP              | US        |   7200000 | PA      | $7213320.00   | 0.81%             | 2027-03-08      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| WEYERHAEUSER CO                                            | Weyerhaeuser Co                                                                                                       | CUSIP: 962166CC6<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | DBT              |  | US        |   1667000 | PA      | $1671434.24   | 0.19%             | 2026-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HJB30<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3158041 | PA      | $3161006.37   | 0.36%             | 2054-10-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED PLN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | PL        |         1 | NC      | $87.39        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HLSA1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4224024 | PA      | $4238783.38   | 0.48%             | 2052-10-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                     | U.S. Treasury Inflation-Indexed Notes                                                                                 | CUSIP: 91282CKL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2892905 | PA      | $2986011.68   | 0.34%             | 2029-04-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                       | Bank of America Corp                                                                                                  | CUSIP: 06051GLE7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2003673.64   | 0.23%             | 2027-01-20      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Verizon Master Trust                                       | Verizon Master Trust                                                                                                  | CUSIP: 92348KCL5<br>LEI: 5493007MUBNP1GFMEB89 | Long             | ABS-O            | CORP              | US        |   5800000 | PA      | $5810562.38   | 0.65%             | 2028-12-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                                   | Alimentation Couche-Tard Inc                                                                                          | CUSIP: 01626UX18<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |   8800000 | PA      | $8800000.00   | 0.99%             | 2025-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HLZ21<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1547837 | PA      | $1548784.50   | 0.17%             | 2055-07-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: BWU02KDM9 IRS USD R V 12MSOFR SWUV2KDM1 CCPOIS / Short: BWU02KDM9 IRS USD P F  3.30000 SWU02KDM9 CCPOIS         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  95142000 | OU      | $119770.46    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Finance America Mortgage Loan Trust                        | Finance America Mortgage Loan Trust 2004-2                                                                            | CUSIP: 317350BD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    265499 | PA      | $255036.54    | 0.03%             | 2034-08-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2024-D                                                                               | CUSIP: 83207QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2143355 | PA      | $2198626.51   | 0.25%             | 2053-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED USD / SOLD CNH                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $258.62       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-213277.94   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED KRW / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | KR        |         1 | NC      | $-1451.59     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CCWFSXUS7 BMO HARRIS MGCC COC                              | CCWFSXUS7 BMO HARRIS MGCC COC                                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   6237000 | NS      | $6237000.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                                        | AUST 10Y BOND FUT DEC25                                                                                               | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |        11 | NC      | $-1553.98     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-91791.33    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ILLUMINA INC                                               | Illumina Inc                                                                                                          | CUSIP: 452327AN9<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | DBT              | CORP              | US        |    400000 | PA      | $400536.62    | 0.05%             | 2025-12-12      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                   | BX 2021-MFM1                                                                                                          | CUSIP: 05608VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    470979 | PA      | $470832.19    | 0.05%             | 2034-01-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $27735.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $-3167.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38383KKA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3153134 | PA      | $3134880.46   | 0.35%             | 2073-09-20      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                      | CWABS Inc Asset-Backed Certificates Trust 2004-6                                                                      | CUSIP: 126673AW2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1043864 | PA      | $1017004.89   | 0.11%             | 2034-12-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD CNH                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $925.80       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | State Street Institutional US Government Money Market Fund                                                            | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |     63785 | NS      | $63785.35     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Onslow Bay Financial LLC                                   | OBX 2024-NQM5 Trust                                                                                                   | CUSIP: 67448NAA6<br>LEI: 254900RDM4XSF0B1E373 | Long             | ABS-MBS          | CORP              | US        |    951077 | PA      | $960792.35    | 0.11%             | 2064-01-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2022-C                                                                               | CUSIP: 78449CAA6<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |   1594742 | PA      | $1591071.65   | 0.18%             | 2050-05-16      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Bain Capital Euro CLO                                      | Bain Capital Euro Clo 2018-2 DAC                                                                                      | CUSIP: 000000000<br>LEI: 635400CJJQJHYAMATG34 | Long             | ABS-CBDO         | CORP              | IE        |   1287696 | PA      | $1509940.76   | 0.17%             | 2032-01-20      | Floating      | 2.76%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED KRW / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | KR        |         1 | NC      | $-4376.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD SGD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $12905.10     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |         1 | NC      | $9671.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCM Loan Income Fund Ltd                                   | LCM Loan Income Fund I Ltd                                                                                            | CUSIP: 50189XAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    184010 | PA      | $184044.33    | 0.02%             | 2031-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED IDR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | ID        |         1 | NC      | $-23226.69    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                                    | GA Global Funding Trust                                                                                               | CUSIP: 36143L2A2<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |    600000 | PA      | $595157.96    | 0.07%             | 2026-01-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $697.60       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GLOBAL PAYMENTS INC                                        | Global Payments Inc                                                                                                   | CUSIP: 37940XAE2<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |   6313000 | PA      | $6229558.11   | 0.70%             | 2026-03-01      | Fixed         | 1.20%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED USD / SOLD AUD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $-2616.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD THB                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $32.22        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $2461.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO Limited                            | Bain Capital Credit Clo 2019-3 Ltd                                                                                    | CUSIP: 05683TBA6<br>LEI: 549300434Q955VK1W392 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3502800.00   | 0.39%             | 2034-10-21      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $608.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US ULTRA BOND CBT DEC25                                                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -179 | NC      | $-582646.10   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                   | Rogers Communications Inc                                                                                             | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |   3100000 | PA      | $3055792.14   | 0.34%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Huntington Auto Trust                                      | Huntington Auto Trust 2024-1                                                                                          | CUSIP: 446144AE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2000000 | PA      | $2022117.80   | 0.23%             | 2029-01-16      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD SGD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $655.06       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust              | JP Morgan Chase Commercial Mortgage Securities Trust 2019-FL12                                                        | CUSIP: 46651QAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    551299 | PA      | $515557.96    | 0.06%             | 2031-12-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137FQZF3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    265831 | PA      | $242734.04    | 0.03%             | 2048-10-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Beignet                                                    | Beignet                                                                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1300000 | PA      | $1300000.00   | 0.15%             | 2049-06-01      | Fixed         | 6.85%                 | No            |                  3 | On Loan: No      |
| Starwood Commercial Mortgage Trust                         | STWD 2022-FL3 Ltd                                                                                                     | CUSIP: 78485KAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    159480 | PA      | $159404.61    | 0.02%             | 2038-11-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38381NNT1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6442541 | PA      | $6452911.74   | 0.73%             | 2055-06-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                                        | PFS Financing Corp                                                                                                    | CUSIP: 69335PEY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $5072639.50   | 0.57%             | 2028-10-15      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                        | New Residential Mortgage Loan Trust 2018-3                                                                            | CUSIP: 64830KAA5<br>LEI: 549300U48YU2VDL8N523 | Long             | ABS-MBS          | CORP              | US        |    252154 | PA      | $246700.51    | 0.03%             | 2058-05-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Services LLC                        | Long: SWPC0NUE4 CDS USD R V 03MEVENT FLO SOVEREIGN / Short: SWPC0NUE4 CDS USD P F  1.00000 FIX SOVEREIGN              | CUSIP: 000000000<br>LEI: I7331LVCZKQKX5T7XV54 | N/A              | DCR              |  | US        |   6000000 | OU      | $-216385.98   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| ALGONQUIN PWR & UTILITY                                    | Algonquin Power & Utilities Corp                                                                                      | CUSIP: 015857AF2<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | CA        |   8800000 | PA      | $8863290.66   | 1.00%             | 2026-06-15      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137FBCF1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1502374 | PA      | $1485256.81   | 0.17%             | 2038-08-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Bayview Opportunity Master Fund                            | Oceanview Mortgage Trust 2025-INV3                                                                                    | CUSIP: 67648CAU4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1220874 | PA      | $1221112.06   | 0.14%             | 2055-05-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                                                         | CUSIP: 842400HS5<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |    200000 | PA      | $205204.12    | 0.02%             | 2027-11-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HKGJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    713205 | PA      | $715503.23    | 0.08%             | 2055-03-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $52079.54     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CCPC CCMSCHUS2 COC                                         | CCPC CCMSCHUS2 COC                                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  10530000 | NS      | $10530000.00  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2024-A                                                                               | CUSIP: 831943AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    819914 | PA      | $837410.80    | 0.09%             | 2056-03-15      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| DAIMLER TRUCK FINAN NA                                     | Daimler Truck Finance North America LLC                                                                               | CUSIP: 233853AP5<br>LEI: 5493003HSDTSCZRXBA58 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4208357.66   | 0.47%             | 2026-01-16      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                             | Carvana Auto Receivables Trust 2025-P1                                                                                | CUSIP: 14689MAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3022850.40   | 0.34%             | 2030-05-10      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-341.11      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-27861.28    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: BWU02F093 IRS USD R V 12MSOFR SWUV2F095 CCPOIS / Short: BWU02F093 IRS USD P F  4.10000 SWU02F093 CCPOIS         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  82200000 | OU      | $-26848.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                          | Mountain View CLO XVI Ltd                                                                                             | CUSIP: 62432UAN1<br>LEI: 549300MWKXOHYV7Z8O91 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $3001467.00   | 0.34%             | 2034-04-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| GM Financial Consumer Automobile Receivables Trust         | GM Financial Consumer Automobile Receivables Trust 2024-4                                                             | CUSIP: 38014AAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $3020652.90   | 0.34%             | 2029-08-16      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HHKS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1957238 | PA      | $1964016.84   | 0.22%             | 2054-12-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED IDR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | ID        |         1 | NC      | $-1566.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HMDP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    993550 | PA      | $996193.61    | 0.11%             | 2055-08-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Progress Trust                                             | Progress 2020-1 Trust                                                                                                 | CUSIP: 000000000<br>LEI: 549300WU3U2KIA8O4L72 | Long             | ABS-MBS          | CORP              | AU        |   2535197 | PA      | $1678368.41   | 0.19%             | 2051-01-21      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| County of Williamson TX                                    | WILLIAMSON CNTY TX                                                                                                    | CUSIP: 9698878H4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2118493.30   | 0.24%             | 2027-02-15      | Fixed         | 0.92%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                  | Uniform Mortgage-Backed Security, TBA                                                                                 | CUSIP: 01F0406A0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   5000000 | PA      | $4711812.30   | 0.53%             | 2055-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-260056.70   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD AUD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-1945.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program 2021-A LLC                      | ELFI Graduate Loan Program 2021-A LLC                                                                                 | CUSIP: 28628BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1890171 | PA      | $1692842.22   | 0.19%             | 2046-12-26      | Fixed         | 1.53%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                    | BPCE SA                                                                                                               | CUSIP: 05583JAC6<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   1600000 | PA      | $1572668.69   | 0.18%             | 2027-10-23      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BVF78<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1397166 | PA      | $1397357.30   | 0.16%             | 2055-05-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $12418.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                 | Verus Securitization Trust 2021-6                                                                                     | CUSIP: 92538MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1929097 | PA      | $1701901.08   | 0.19%             | 2066-10-25      | Variable      | 1.63%                 | No            |                  2 | On Loan: No      |
| ENEL FINANCE INTL NV                                       | Enel Finance International NV                                                                                         | CUSIP: 000000000<br>LEI: 0YQH6LCEF474UTUV4B96 | Long             | DBT              | CORP              | NL        |   2000000 | PA      | $1960267.84   | 0.22%             | 2026-07-12      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED INR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | IN        |         1 | NC      | $-3166.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                    | Hyundai Capital America                                                                                               | CUSIP: 44891ADQ7<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1122467.47   | 0.13%             | 2030-03-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-83192.15    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HKP40<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4987814 | PA      | $4982251.19   | 0.56%             | 2055-03-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Accredited Mortgage Loan Trust                             | Accredited Mortgage Loan Trust 2004-3                                                                                 | CUSIP: 004375BL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2635 | PA      | $2613.88      | 0.00%             | 2034-10-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Tulane University                                          | TULANE LA UNIV                                                                                                        | CUSIP: 899062BQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2820000 | PA      | $2625071.45   | 0.30%             | 2036-02-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                | Taurus 2021-1 UK DAC                                                                                                  | CUSIP: 000000000<br>LEI: 635400SG2ZVJCYHITE32 | Long             | ABS-MBS          | CORP              | IE        |   2581043 | PA      | $3470802.35   | 0.39%             | 2031-05-17      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| ORIX CORP                                                  | ORIX Corp                                                                                                             | CUSIP: 686330AS0<br>LEI: 35380016EMHNBOVYE123 | Long             | DBT              | CORP              | JP        |   2000000 | PA      | $2024198.60   | 0.23%             | 2029-09-10      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: SWU01PDU1 IRS AUD R F  4.50000 SWU01PDU1 CCPVANILLA / Short: SWU01PDU1 IRS AUD P V 06MBBSW SWUV1PDU3 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   7600000 | OU      | $124168.85    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                                                         | CUSIP: 097023DG7<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   9800000 | PA      | $9725778.23   | 1.10%             | 2026-02-04      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                    | National Bank of Canada                                                                                               | CUSIP: 63307A2Z7<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |   5000000 | PA      | $5016382.90   | 0.57%             | 2027-07-02      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | BR        |         1 | NC      | $3234.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd            | Arbor Realty Commercial Real Estate Notes 2021-FL4 Ltd                                                                | CUSIP: 03880RAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1534839 | PA      | $1534832.04   | 0.17%             | 2036-11-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                   | Avolon Holdings Funding Ltd                                                                                           | CUSIP: 05401AAM3<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |    281000 | PA      | $278105.97    | 0.03%             | 2026-02-21      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BUTN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    854413 | PA      | $858276.75    | 0.10%             | 2055-02-25      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                    | Goldman Sachs Group Inc/The                                                                                           | CUSIP: 38141GXX7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    900000 | PA      | $900961.60    | 0.10%             | 2027-03-09      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| GCAT                                                       | GCAT 2022-CM1 Trust                                                                                                   | CUSIP: 36168XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1154611 | PA      | $1090052.71   | 0.12%             | 2066-12-27      | Variable      | 2.89%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38382YN82<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3317009 | PA      | $3301480.76   | 0.37%             | 2073-01-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED INR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | IN        |         1 | NC      | $-18255.30    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PNC BANK NA                                                | PNC Bank NA                                                                                                           | CUSIP: 69353RFX1<br>LEI: AD6GFRVSDT01YPT1CS68 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8009601.68   | 0.90%             | 2027-01-15      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED MXN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | MX        |         1 | NC      | $699.07       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| 522 Funding CLO LTD                                        | 522 Funding CLO 2018-3A Ltd                                                                                           | CUSIP: 33835NAA9<br>LEI: 549300HKB0UTKU91DG08 | Long             | ABS-CBDO         | CORP              | KY        |    159611 | PA      | $159712.40    | 0.02%             | 2031-10-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                                           | FirstEnergy Corp                                                                                                      | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    800000 | PA      | $795093.74    | 0.09%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $1590.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: BWU02CMK1 IRS USD R V 12MSOFR SWUV2CMK3 CCPOIS / Short: BWU02CMK1 IRS USD P F  3.86165 SWU02CMK1 CCPOIS         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  22600000 | OU      | $-371679.15   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                                           | Berry Global Inc                                                                                                      | CUSIP: 08576PAH4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4163817.00   | 0.47%             | 2026-01-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                    | Nissan Motor Acceptance Co LLC                                                                                        | CUSIP: 000000000<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2409790.75   | 0.27%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD KRW                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $9428.50      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD ZAR                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $-628.37      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136AYN82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1317892 | PA      | $1303736.46   | 0.15%             | 2047-11-25      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2024-E                                                                               | CUSIP: 78450XAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    685719 | PA      | $694391.10    | 0.08%             | 2056-10-16      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                 | Navient Private Education Refi Loan Trust 2020-H                                                                      | CUSIP: 63935BAA1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |    559606 | PA      | $529593.60    | 0.06%             | 2069-01-15      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-917.51      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                          | Elevation Clo 2021-15 Ltd                                                                                             | CUSIP: 28623VAN9<br>LEI: 5493005VN5WX000OV470 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2997081.00   | 0.34%             | 2035-01-25      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| CARDS II Trust                                             | CARDS II Trust                                                                                                        | CUSIP: 14161GCM0<br>LEI: 549300GWPYLNK6X47W76 | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4037457.60   | 0.45%             | 2031-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED ILS / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | IL        |         1 | NC      | $133.47       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 5YR NOTE (CBT) DEC25                                                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      4168 | NC      | $388476.05    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BUFY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2823880 | PA      | $2823722.51   | 0.32%             | 2054-06-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2020-A                                                                               | CUSIP: 78449UAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    907055 | PA      | $879874.50    | 0.10%             | 2037-09-15      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP                         | One New York Plaza Trust 2020-1NYP                                                                                    | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2100000 | PA      | $2060203.95   | 0.23%             | 2036-01-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                | 3 MONTH SOFR FUT JUN26                                                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       889 | NC      | $76916.28     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvest CLO                                                | Harvest CLO XVI DAC                                                                                                   | CUSIP: 000000000<br>LEI: 635400HU8ASOJYEX2I14 | Long             | ABS-CBDO         | CORP              | IE        |   1953845 | PA      | $2288226.06   | 0.26%             | 2031-10-15      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                                                           | CUSIP: 6840C2YK5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |   5100000 | PA      | $5069942.59   | 0.57%             | 2025-11-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-837.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BVGN2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    750243 | PA      | $750468.58    | 0.08%             | 2055-03-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce PLC                                            | Rolls-Royce PLC                                                                                                       | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |   2500000 | PA      | $2498908.90   | 0.28%             | 2025-10-14      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                    | New York Mortgage Trust 2005-3                                                                                        | CUSIP: 649603AG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     42201 | PA      | $41957.39     | 0.00%             | 2036-02-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.           | Freddie Mac Multifamily Structured Pass Through Certificates                                                          | CUSIP: 3137HHH38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2718788 | PA      | $2718782.15   | 0.31%             | 2027-08-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HNCM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $500497.50    | 0.06%             | 2055-10-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                       | PRET 2025-RPL4 Trust                                                                                                  | CUSIP: 740943AA3<br>LEI: 254900640HC5OZKI7J87 | Long             | ABS-MBS          | CORP              | US        |   3000000 | PA      | $2998269.00   | 0.34%             | 2065-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK OF CANADA                                    | National Bank of Canada                                                                                               | CUSIP: 63307A3G8<br>LEI: BSGEFEIOM18Y80CKCV46 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $500696.33    | 0.06%             | 2027-03-05      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2024-A                                                                               | CUSIP: 831943AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3525631 | PA      | $3564060.25   | 0.40%             | 2056-03-15      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| PSP CAPITAL INC                                            | PSP Capital Inc                                                                                                       | CUSIP: 000000000<br>LEI: 549300B456N0WEIC5249 | Long             | DBT              | NUSS              | CA        |   6500000 | PA      | $6500591.44   | 0.73%             | 2027-12-01      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                    | CarMax Auto Owner Trust 2024-4                                                                                        | CUSIP: 14290DAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1574610 | PA      | $1577489.22   | 0.18%             | 2027-12-15      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BVFH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    363593 | PA      | $363952.60    | 0.04%             | 2055-03-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                | 3 MONTH SOFR FUT SEP25                                                                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      1302 | NC      | $-7315.70     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HHWV9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2564565 | PA      | $2565264.05   | 0.29%             | 2055-01-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED PLN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | PL        |         1 | NC      | $-553.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                     | Rockford Tower CLO 2021-2 Ltd                                                                                         | CUSIP: 77341LAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2300000 | PA      | $2300839.50   | 0.26%             | 2034-07-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED ILS / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | IL        |         1 | NC      | $2162.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                    | Bayer US Finance II LLC                                                                                               | CUSIP: 07274NAL7<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4185028.34   | 0.47%             | 2028-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                                    | Hyundai Capital America                                                                                               | CUSIP: 44891ADE4<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |    900000 | PA      | $904559.69    | 0.10%             | 2027-06-24      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $48519.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                                          | Hyatt Hotels Corp                                                                                                     | CUSIP: 448579AU6<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1727599.74   | 0.19%             | 2028-03-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC                                      | Arrow Electronics Inc                                                                                                 | CUSIP: 04273WAF8<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2252209.23   | 0.25%             | 2029-08-21      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                    | BPCE SA                                                                                                               | CUSIP: 05583JAN2<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   4314000 | PA      | $4330174.70   | 0.49%             | 2027-01-18      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI SYD                                        | Sumitomo Mitsui Banking Corp/Sydney                                                                                   | CUSIP: 000000000<br>LEI: 5U0XI89JRFVHWIBS4F54 | Long             | DBT              | CORP              | JP        |   2700000 | PA      | $1790305.96   | 0.20%             | 2026-02-20      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED KRW / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | KR        |         1 | NC      | $-1451.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BVBY3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2497869 | PA      | $2501977.29   | 0.28%             | 2055-03-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                | Oracle Corp                                                                                                           | CUSIP: 68389XCC7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3656272.40   | 0.41%             | 2026-03-25      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                               | AES Corp/The                                                                                                          | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |   5200000 | PA      | $5152082.42   | 0.58%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| CRSNT Trust                                                | CRSNT Trust 2021-MOON                                                                                                 | CUSIP: 22877LAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4500000 | PA      | $4469061.15   | 0.50%             | 2036-04-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 10YR NOTE (CBT)DEC25                                                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -143 | NC      | $-71678.89    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BVKH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  12066229 | PA      | $12069941.94  | 1.36%             | 2054-09-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Toyota Lease Owner Trust                                   | Toyota Lease Owner Trust 2025-A                                                                                       | CUSIP: 89239NAD7<br>LEI: 254900299R9KF5UH9O95 | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $8087054.40   | 0.91%             | 2028-02-22      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                       | Royal Bank of Canada                                                                                                  | CUSIP: 78017FZR7<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1400000 | PA      | $1403396.61   | 0.16%             | 2027-10-18      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Navesink CLO, Limited                                      | Navesink CLO 2 Ltd                                                                                                    | CUSIP: 63942YAA2<br>LEI: 254900HNRWNLGN0X1N35 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3493780.50   | 0.39%             | 2036-04-15      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED MXN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | MX        |         1 | NC      | $30356.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BVJ66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    964362 | PA      | $966270.90    | 0.11%             | 2055-05-25      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Lease Securitization Trust                    | Hyundai Auto Lease Securitization Trust 2025-A                                                                        | CUSIP: 44935WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3500000 | PA      | $3539443.25   | 0.40%             | 2028-01-18      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| BMW US CAPITAL LLC                                         | BMW US Capital LLC                                                                                                    | CUSIP: 05565ECX1<br>LEI: KK5MZM9DIXLXZL9DZL15 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2010980.00   | 0.23%             | 2028-03-21      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                  | Towd Point Mortgage Trust 2019-4                                                                                      | CUSIP: 89178BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1556180 | PA      | $1501648.47   | 0.17%             | 2059-10-25      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38385GMK2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1185406 | PA      | $1188304.04   | 0.13%             | 2055-05-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |         1 | NC      | $13223.77     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $741.34       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                             | Enterprise Fleet Financing 2022-4 LLC                                                                                 | CUSIP: 29374GAB7<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |   1054143 | PA      | $1059198.26   | 0.12%             | 2029-10-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| BPCE SA                                                    | BPCE SA                                                                                                               | CUSIP: 05571AAQ8<br>LEI: 9695005MSX1OYEMGDF46 | Long             | DBT              | CORP              | FR        |   2700000 | PA      | $2761054.34   | 0.31%             | 2027-10-19      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED KRW / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | KR        |         1 | NC      | $1485.33      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD SGD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $196.61       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD MXN                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-276.48      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED TWD / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | TW        |         1 | NC      | $-2858.04     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                          | Wellfleet CLO 2021-2 Ltd                                                                                              | CUSIP: 95023AAL4<br>LEI: 2549005MTORTL04RYQ32 | Long             | ABS-CBDO         | CORP              | KY        |   4300000 | PA      | $4303018.60   | 0.48%             | 2034-07-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-200183.71   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                     | VICI Properties LP / VICI Note Co Inc                                                                                 | CUSIP: 92564RAH8<br>LEI: N/A                  | Long             | DBT              |  | US        |   1100000 | PA      | $1099961.54   | 0.12%             | 2026-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-41735.38    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                                                           | CUSIP: 694308HP5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198618.49    | 0.02%             | 2026-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                           | SMB Private Education Loan Trust 2024-C                                                                               | CUSIP: 83206EAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1835790 | PA      | $1889481.82   | 0.21%             | 2052-06-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |         1 | NC      | $-302.57      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                       | Las Vegas Sands Corp                                                                                                  | CUSIP: 517834AJ6<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4080850.32   | 0.46%             | 2027-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HMD23<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1585229 | PA      | $1589102.28   | 0.18%             | 2055-08-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $498.14       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                 | Navient Private Education Refi Loan Trust 2022-A                                                                      | CUSIP: 63942MAA8<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |   2761396 | PA      | $2520641.43   | 0.28%             | 2070-07-15      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38385GWL9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2807980 | PA      | $2681012.12   | 0.30%             | 2049-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |         1 | NC      | $13780.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BOEING CO                                                  | Boeing Co/The                                                                                                         | CUSIP: 097023DA0<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    300000 | PA      | $298288.86    | 0.03%             | 2026-02-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BXZK3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    900000 | PA      | $901042.74    | 0.10%             | 2055-08-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BWNW2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    855084 | PA      | $855610.87    | 0.10%             | 2055-07-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HLEP3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5827560 | PA      | $5831519.44   | 0.66%             | 2055-05-25      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                   | Lloyds Banking Group PLC                                                                                              | CUSIP: 53944YAZ6<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   2300000 | PA      | $2334270.67   | 0.26%             | 2028-01-05      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                      | Athene Global Funding                                                                                                 | CUSIP: 04685A3U3<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2318523.03   | 0.26%             | 2027-03-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                     | Sequoia Mortgage Trust 2004-6                                                                                         | CUSIP: 81744FCG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2456 | PA      | $2276.67      | 0.00%             | 2034-07-20      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38376RXT8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    512031 | PA      | $512384.12    | 0.06%             | 2066-08-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD SGD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $1522.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HKEX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11474618 | PA      | $11459071.44  | 1.29%             | 2054-11-25      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                        | GS Mortgage-Backed Securities Trust 2024-PJ7                                                                          | CUSIP: 362949BR9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1576415 | PA      | $1581735.40   | 0.18%             | 2054-11-25      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Gemgarto                                                   | Gemgarto 2021-1 PLC                                                                                                   | CUSIP: 000000000<br>LEI: 635400KLHB2FIID9TE45 | Long             | ABS-MBS          | CORP              | GB        |    100088 | PA      | $134692.37    | 0.02%             | 2067-12-16      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD CAD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $27434.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-14083.60    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                           | Societe Generale SA                                                                                                   | CUSIP: 83368TAZ1<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   1900000 | PA      | $1888210.10   | 0.21%             | 2026-12-14      | Fixed         | 1.49%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                           | Bain Capital Credit CLO 2021-6 Ltd                                                                                    | CUSIP: 05684PAL0<br>LEI: 254900YXN9JEMKU5DF45 | Long             | ABS-CBDO         | CORP              | KY        |   3500000 | PA      | $3503465.00   | 0.39%             | 2034-10-21      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HLZD7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1443679 | PA      | $1446717.89   | 0.16%             | 2055-06-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                 | Verus Securitization Trust 2024-1                                                                                     | CUSIP: 92540EAA1<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |   1062603 | PA      | $1070523.00   | 0.12%             | 2069-01-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                   | Benchmark 2019-B12 Mortgage Trust                                                                                     | CUSIP: 08162FAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4057703 | PA      | $3971173.39   | 0.45%             | 2052-08-15      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                     | U.S. Treasury Inflation-Indexed Notes                                                                                 | CUSIP: 91282CDC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2246085 | PA      | $2233649.19   | 0.25%             | 2026-10-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                    | CarMax Auto Owner Trust 2023-4                                                                                        | CUSIP: 14318XAC9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5709551 | PA      | $5786045.69   | 0.65%             | 2028-07-17      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ATHENE GLOBAL FUNDING                                      | Athene Global Funding                                                                                                 | CUSIP: 04685A4J7<br>LEI: 549300LM1QSI4MSIL320 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5011700.35   | 0.56%             | 2026-07-16      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-6180.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD SEK                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $269.80       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust/Ford Credit                   | Ford Credit Auto Owner Trust 2023-REV1                                                                                | CUSIP: 34535QAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6105751.20   | 0.69%             | 2035-08-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-99984.06    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MBARC Credit Canada Inc                                    | MBarc Credit Canada Inc                                                                                               | CUSIP: 552755BX7<br>LEI: 549300T0LAPKEKVWBV33 | Long             | ABS-O            | CORP              | CA        |    524299 | PA      | $377109.43    | 0.04%             | 2026-10-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Fanniemae-Aces                                             | Fannie Mae-Aces                                                                                                       | CUSIP: 3136AVKR9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1541953 | PA      | $1518842.20   | 0.17%             | 2027-02-25      | Variable      | 2.98%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                  | Nelnet Student Loan Trust 2025-B                                                                                      | CUSIP: 64032BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2300000 | PA      | $2316208.79   | 0.26%             | 2055-05-17      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                  | Uniform Mortgage-Backed Security, TBA                                                                                 | CUSIP: 01F0606A8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  60900000 | PA      | $62214689.10  | 7.01%             | 2054-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trust                            | Citizens Auto Receivables Trust 2023-1                                                                                | CUSIP: 17331KAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4735000 | PA      | $4826200.84   | 0.54%             | 2030-10-15      | Fixed         | 5.78%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trust                            | Citizens Auto Receivables Trust 2023-2                                                                                | CUSIP: 17295FAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1610575 | PA      | $1623303.86   | 0.18%             | 2028-02-15      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HJAP2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3157947 | PA      | $3163499.68   | 0.36%             | 2055-02-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| Post Road Equipment Finance                                | Post Road Equipment Finance 2025-1 LLC                                                                                | CUSIP: 73747LAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1200000 | PA      | $1209395.76   | 0.14%             | 2031-05-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD AUD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-196426.70   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                               | Barclays PLC                                                                                                          | CUSIP: 06738ECF0<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |   1600000 | PA      | $1614134.94   | 0.18%             | 2027-05-09      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| TORO EUROPEAN CLO                                          | Toro European CLO 6 DAC                                                                                               | CUSIP: 000000000<br>LEI: 635400SBMZDOVHEFNA56 | Long             | ABS-CBDO         | CORP              | IE        |   2604596 | PA      | $3052778.61   | 0.34%             | 2032-01-12      | Floating      | 2.92%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | BR        |         1 | NC      | $104217.57    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38382YA52<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1648088 | PA      | $1650546.11   | 0.19%             | 2072-10-20      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137BFMR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    811380 | PA      | $802104.59    | 0.09%             | 2040-06-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                            | Venture XXVII CLO Ltd                                                                                                 | CUSIP: 92331LBC3<br>LEI: 549300JZGSLL2771YV05 | Long             | ABS-CBDO         | CORP              | KY        |     30661 | PA      | $30663.18     | 0.00%             | 2030-07-20      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD IDR                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $506.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED BRL / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |         1 | NC      | $5900.59      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SWAP JP MORGAN BOC                                         | SWAP JP MORGAN BOC                                                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Short            | STIV             | CORP              | US        |   -290000 | NS      | $-290000.00   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| MFRA Trust                                                 | MFA 2023-NQM4 Trust                                                                                                   | CUSIP: 55286LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    633998 | PA      | $639521.46    | 0.07%             | 2068-12-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137BCL48<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1334265 | PA      | $1319253.66   | 0.15%             | 2037-03-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Tesla Auto Lease Trust                                     | Tesla Auto Lease Trust 2023-B                                                                                         | CUSIP: 88167QAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    652969 | PA      | $654100.41    | 0.07%             | 2026-09-21      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                           | SoFi Consumer Loan Program 2025-1 Trust                                                                               | CUSIP: 83406YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1776162 | PA      | $1785036.52   | 0.20%             | 2034-02-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                 | Navient Student Loan Trust                                                                                            | CUSIP: 63942TAA3<br>LEI: 549300761SV59SBM0Z40 | Long             | ABS-O            | CORP              | US        |    941007 | PA      | $966895.06    | 0.11%             | 2072-03-15      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: SWU02K0G6 IRS AUD R F  4.25000 SWU02K0G6 CCPVANILLA / Short: SWU02K0G6 IRS AUD P V 06MBBSW SWUV2K0G8 CCPVANILLA | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  24300000 | OU      | $-117190.83   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HKKP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2246100 | PA      | $2251675.46   | 0.25%             | 2055-03-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                        | Southern California Edison Co                                                                                         | CUSIP: 842400HQ9<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1304642.07   | 0.15%             | 2027-06-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                  | Towd Point Mortgage Trust 2018-5                                                                                      | CUSIP: 89176VAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5217353 | PA      | $5055550.96   | 0.57%             | 2058-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                 | MFA 2020-NQM2 Trust                                                                                                   | CUSIP: 552751AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    211196 | PA      | $204871.81    | 0.02%             | 2065-04-25      | Variable      | 1.38%                 | No            |                  2 | On Loan: No      |
| KKR FINANCIAL HOLDINGS                                     | KKR Financial Holdings LLC                                                                                            | CUSIP: 48248AAG3<br>LEI: 549300U5WMP5TYFNKW68 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4403450.97   | 0.50%             | 2033-05-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED GBP / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | GB        |         1 | NC      | $-9291.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                             | Enterprise Fleet Financing 2023-1 LLC                                                                                 | CUSIP: 29375CAB5<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |    765586 | PA      | $767738.28    | 0.09%             | 2029-01-22      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding AESOP LLC                   | Avis Budget Rental Car Funding AESOP LLC                                                                              | CUSIP: 05377RHL1<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |   7600000 | PA      | $7808127.52   | 0.88%             | 2028-08-21      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI SYD                                        | Sumitomo Mitsui Banking Corp/Sydney                                                                                   | CUSIP: 000000000<br>LEI: 5U0XI89JRFVHWIBS4F54 | Long             | DBT              | CORP              | JP        |   1000000 | PA      | $662321.94    | 0.07%             | 2025-11-07      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED PLN / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | PL        |         1 | NC      | $-144.72      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $4702.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dryden Leveraged Loan CDO                                  | Dryden 27 R Euro CLO 2017 DAC                                                                                         | CUSIP: 000000000<br>LEI: 635400RDG3EM9CGEVD60 | Long             | ABS-CBDO         | CORP              | IE        |   1289297 | PA      | $1510014.32   | 0.17%             | 2033-04-15      | Floating      | 2.69%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                   | Eagle Funding Luxco Sarl                                                                                              | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |   5200000 | PA      | $5275712.00   | 0.59%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BU5D8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2442212 | PA      | $2443581.77   | 0.28%             | 2055-03-25      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Bayer US Finance II LLC                                    | Bayer US Finance II LLC                                                                                               | CUSIP: 07274NAJ2<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |   4700000 | PA      | $4695884.82   | 0.53%             | 2025-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bank of America Auto Trust                                 | Bank of America Auto Trust 2023-1                                                                                     | CUSIP: 06428AAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2457607 | PA      | $2477512.15   | 0.28%             | 2028-02-15      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                   | Volkswagen Group of America Finance LLC                                                                               | CUSIP: 928668CN0<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2823395.82   | 0.32%             | 2027-03-25      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                     | U.S. Treasury Notes                                                                                                   | CUSIP: 91282CNX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29000000 | PA      | $28850468.75  | 3.25%             | 2030-08-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| CarMax Auto Owner Trust                                    | Carmax Auto Owner Trust 2025-1                                                                                        | CUSIP: 14319WAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $4060814.00   | 0.46%             | 2030-01-15      | Fixed         | 4.84%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED TWD / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | TW        |         1 | NC      | $-99.36       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                          | PRPM 2023-NQM3 Trust                                                                                                  | CUSIP: 69380TAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    279623 | PA      | $282577.53    | 0.03%             | 2068-11-25      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                 | Navient Private Education Refi Loan Trust 2020-H                                                                      | CUSIP: 63942AAA4<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |   1151745 | PA      | $1067241.68   | 0.12%             | 2069-04-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137H0VA3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4306731 | PA      | $3720574.99   | 0.42%             | 2044-08-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                     | US 10YR ULTRA FUT DEC25                                                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -447 | NC      | $-277761.23   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Recette CLO LLC                                            | Recette Clo Ltd                                                                                                       | CUSIP: 75620TAW8<br>LEI: 549300392I5L5XOJ0016 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1001250.00   | 0.11%             | 2034-04-20      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                     | PURCHASED USD / SOLD TWD                                                                                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |         1 | NC      | $3402.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Gallatin Loan Management, LLC                              | Gallatin CLO VIII 2017-1 Ltd                                                                                          | CUSIP: 36361UAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    740866 | PA      | $741398.91    | 0.08%             | 2031-07-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED IDR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | ID        |         1 | NC      | $-570.52      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddiemac Strip                                           | Freddie Mac Strips                                                                                                    | CUSIP: 31351DDT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    629858 | PA      | $622991.09    | 0.07%             | 2037-10-15      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-9820.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136AKWD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    230352 | PA      | $228029.32    | 0.03%             | 2044-08-25      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                        | American Tower Corp                                                                                                   | CUSIP: 03027XBL3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   7400000 | PA      | $7299815.99   | 0.82%             | 2026-04-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                 | Bear Stearns Asset Backed Securities I Trust 2005-AQ1                                                                 | CUSIP: 073879UQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140467 | PA      | $140264.81    | 0.02%             | 2035-03-25      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                   | Government National Mortgage Association                                                                              | CUSIP: 38381ND21<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    496360 | PA      | $497762.18    | 0.06%             | 2055-07-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                  | ONEOK Inc                                                                                                             | CUSIP: 682680CC5<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2698063.13   | 0.30%             | 2029-10-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                     | Pacific Gas and Electric Co                                                                                           | CUSIP: 694308JP3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2990452.77   | 0.34%             | 2026-01-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                      | KKR CLO 36 Ltd                                                                                                        | CUSIP: 48255AAJ7<br>LEI: 25490057CIZ1GI9ZCN22 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999993.00    | 0.11%             | 2034-10-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| CANADIAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                                                                                           | CUSIP: 13648TAB3<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | CA        |   1200000 | PA      | $1189975.97   | 0.13%             | 2026-06-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Hyundai Auto Receivables Trust                             | Hyundai Auto Receivables Trust 2024-C                                                                                 | CUSIP: 448976AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2500000 | PA      | $2519027.25   | 0.28%             | 2029-05-15      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                     | Brazil Letras do Tesouro Nacional                                                                                     | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |  59100000 | PA      | $10365207.90  | 1.17%             | 2026-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE                                   | Equitable Financial Life Global Funding                                                                               | CUSIP: 29449WAE7<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4457754.18   | 0.50%             | 2026-01-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED IDR / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | ID        |         1 | NC      | $100.42       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cars Alliance                                              | Cars Alliance Auto Loans Germany V 2024-1                                                                             | CUSIP: 000000000<br>LEI: 969500KJR887I60U6F15 | Long             | ABS-O            | CORP              | DE        |   4266662 | PA      | $5014727.91   | 0.56%             | 2036-01-18      | Floating      | 2.43%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                   | Long: BWU02KRD4 IRS USD R V 12MSOFR SWUV2KRD6 CCPOIS / Short: BWU02KRD4 IRS USD P F  3.32500 SWU02KRD4 CCPOIS         | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        | 310469000 | OU      | $86186.19     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                  | Uniform Mortgage-Backed Security, TBA                                                                                 | CUSIP: 01F0506A9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |  43400000 | PA      | $43037920.74  | 4.85%             | 2055-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BU5M8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    546546 | PA      | $547056.14    | 0.06%             | 2055-01-25      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD CNH                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-131.29      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136B5K95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1358732 | PA      | $1319658.38   | 0.15%             | 2049-09-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-23534.72    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AVOLON HOLDINGS FNDG LTD                                   | Avolon Holdings Funding Ltd                                                                                           | CUSIP: 05401AAK7<br>LEI: 635400ZRKEX9L1BKCH30 | Long             | DBT              | CORP              | KY        |   2800000 | PA      | $2803711.96   | 0.32%             | 2026-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED CAD / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CA        |         1 | NC      | $-10021.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                             | PURCHASED KRW / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | KR        |         1 | NC      | $-2226.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                                     | Mizuho Financial Group Inc                                                                                            | CUSIP: 60687YBP3<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   3700000 | PA      | $3629218.19   | 0.41%             | 2027-05-22      | Fixed         | 1.23%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED THB / SOLD USD                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | TH        |         1 | NC      | $-85.34       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                   | Volkswagen Group of America Finance LLC                                                                               | CUSIP: 928668CD2<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |   3383000 | PA      | $3389072.49   | 0.38%             | 2026-03-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD BRL                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $-85115.23    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                     | PURCHASED USD / SOLD GBP                                                                                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |         1 | NC      | $20335.79     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merrill Lynch Mortgage Investors Trust                     | Merrill Lynch Mortgage Investors Trust MLMI Series 2003-A3                                                            | CUSIP: 589929R26<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | ABS-MBS          | CORP              | US        |      2611 | PA      | $2515.22      | 0.00%             | 2033-05-25      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                 | Fannie Mae REMICS                                                                                                     | CUSIP: 3136BUFJ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3283975 | PA      | $3281723.52   | 0.37%             | 2055-01-25      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                | Freddie Mac REMICS                                                                                                    | CUSIP: 3137HJG84<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2023844 | PA      | $2022726.16   | 0.23%             | 2055-02-25      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                     | U.S. Treasury Inflation-Indexed Notes                                                                                 | CUSIP: 912828S50<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7412020 | PA      | $7386108.39   | 0.83%             | 2026-07-15      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN GROUP AMERICA                                   | Volkswagen Group of America Finance LLC                                                                               | CUSIP: 928668CT7<br>LEI: 5493002SQ1AVQBY41K40 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200787.55    | 0.02%             | 2027-03-25      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                     | PURCHASED USD / SOLD ZAR                                                                                              | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              |  | US        |         1 | NC      | $46.10        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                               | UBS Group AG                                                                                                          | CUSIP: 902613AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1800000 | PA      | $1806359.62   | 0.20%             | 2027-01-12      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST

**Signature:** James Hoffmayer

**Name of Signer:** James Hoffmayer

**Title:** VP