# EDGAR Filing Document

**Accession Number:** 0000837274
**File Stem:** 0002071691-26-003997
**Filing Date:** 2026-2
**Character Count:** 138798
**Document Hash:** c001b39a5bbd482f8bc530c4741b0c81
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-003997.hdr.sgml**: 20260225

**ACCESSION NUMBER**: 0002071691-26-003997

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260225

**DATE AS OF CHANGE**: 20260225

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN TEMPLETON VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000837274

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05583
- **FILM NUMBER:** 26675152

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN VALUEMARK FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN VALUEMARK ANNUITY FUNDS
- **DATE OF NAME CHANGE:** 19881129

## Series and Classes Contracts Data

### FRANKLIN INCOME VIP FUND (Series ID: S000007329)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020129 | Class 1      |  |
| C000020130 | Class 2      |  |
| C000061791 | Class 4      |  |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Templeton Variable Insurance Products Trust

- **b. Investment Company Act file number:** 811-05583

- **c. CIK number of Registrant:** 0000837274

- **d. LEI of Registrant:** 549300PIBKZH7YTTWU55

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

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

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

- **a. Name of Series:** Franklin Income VIP Fund

- **b. EDGAR series identifier (if any):** S000007329

- **c. LEI of Series:** EC5RL2TXCF76ZEXHFH77

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

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

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $3255666366.56

**Total Liabilities:** $2079106.79

**Net Assets:** $3253587259.77

**Cash Not Reported:** $788852.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -150.41000000 | **1-Year:** -11026.67000000 | **5-Year:** -141296.53000000 | **10-Year:** -105693.33000000 | **30-Year:** -224273.67000000

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

- **3-Month:** -76.74000000 | **1-Year:** -21902.22000000 | **5-Year:** -119676.24000000 | **10-Year:** -50200.37000000 | **30-Year:** -9.03000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020129 | 0.77%                | 1.60%                | 0.69%                |
| Class ID C000020130 | 0.75%                | 1.55%                | 0.73%                |
| Class ID C000061791 | 0.79%                | 1.56%                | 0.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $20891710.50             | $-6093624.34                               |
| Month 2  | $4211944.59              | $36744293.21                               |
| Month 3  | $12210238.74             | $23053.72                                  |

**Designated Index Information**

- **Index Name:** 50% US High Div Yield + 25% High Yield Very Liquid + 25% US Agg Index

- **Index Identifier:** HB10288

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                               | American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                              | CUSIP: 00253XAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2504853.58   | 0.08%             | 2026-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                               | American Airlines, Inc. / AAdvantage Loyalty IP Ltd.                                              | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4460000 | PA      | $4544490.24   | 0.14%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                                       | AbbVie, Inc.                                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    100000 | NS      | $22849000.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals, Inc.                                                   | Air Products and Chemicals, Inc.                                                                  | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |    115000 | NS      | $28407300.00  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp.                                                                    | Albemarle Corp.                                                                                   | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |    230000 | NS      | $13659700.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcoa Nederland Holding BV                                                         | Alcoa Nederland Holding BV                                                                        | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |   8500000 | PA      | $8339930.72   | 0.26%             | 2029-03-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                            | American Airlines, Inc.                                                                           | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7325619.00   | 0.23%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                               | American Tower Corp.                                                                              | CUSIP: 03027XBZ2<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5277668.60   | 0.16%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                                        | Amgen, Inc.                                                                                       | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     35000 | NS      | $11455850.00  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices, Inc.                                                               | Analog Devices, Inc.                                                                              | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     34000 | NS      | $9220800.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                                                                   | ArcelorMittal SA                                                                                  | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |  12000000 | PA      | $13444373.28  | 0.41%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Ardagh Group SA                                                                    | Ardagh Group SA                                                                                   | CUSIP: 03969UAA4<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |  11000000 | PA      | $10092500.00  | 0.31%             | 2030-12-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Ares Management Corp.                                                              | Ares Management Corp., Series B                                                                   | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |     50000 | NS      | $2520000.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Capital, Inc.                                                              | Ashtead Capital, Inc.                                                                             | CUSIP: 045054AL7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4452357.92   | 0.14%             | 2029-11-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Asurion LLC and Asurion Co-Issuer, Inc.                                            | Asurion LLC and Asurion Co-Issuer, Inc.                                                           | CUSIP: 045941AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4671568.89   | 0.14%             | 2032-12-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                                  | BAT Capital Corp.                                                                                 | CUSIP: 054989AB4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6627650.28   | 0.20%             | 2033-08-02      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                       | Barclays plc                                                                                      | CUSIP: 06738ECA1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  15000000 | PA      | $15752237.55  | 0.48%             | 2033-08-09      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                                       | Barclays plc                                                                                      | CUSIP: 06738ECE3<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $11438601.70  | 0.35%             | 2033-11-02      | Fixed         | 7.44%                 | No            |                  2 | On Loan: No      |
| Beach Acquisition Bidco LLC                                                        | Beach Acquisition Bidco LLC                                                                       | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $11046330.00  | 0.34%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                                   | Boeing Co. (The)                                                                                  | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |    240000 | NS      | $16574400.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co. (The)                                                                   | Boeing Co. (The)                                                                                  | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15417839.40  | 0.47%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Bombardier, Inc.                                                                   | Bombardier, Inc.                                                                                  | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4250000 | PA      | $4534316.50   | 0.14%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co.                                                           | Bristol-Myers Squibb Co.                                                                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    229919 | NS      | $12401830.86  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                                                                     | Broadcom, Inc.                                                                                    | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9794404.10   | 0.30%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                      | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2389171.25   | 0.07%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO Holdings LLC / CCO Holdings Capital Corp.                                      | CCO Holdings LLC / CCO Holdings Capital Corp.                                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17500000 | PA      | $17749389.18  | 0.55%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                 | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  23820000 | PA      | $21222429.00  | 0.65%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                 | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  19430000 | PA      | $15585644.90  | 0.48%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                 | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  27898000 | PA      | $30483865.62  | 0.94%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                 | CHS/Community Health Systems, Inc.                                                                | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12618943.44  | 0.39%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                                   | CVS Health Corp.                                                                                  | CUSIP: 126650DU1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5149428.80   | 0.16%             | 2033-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                        | Caesars Entertainment, Inc.                                                                       | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   6250000 | PA      | $6475793.56   | 0.20%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                        | Caesars Entertainment, Inc.                                                                       | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12165111.25  | 0.37%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                                      | Calpine Corp.                                                                                     | CUSIP: 131347CM6<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2002264.00   | 0.06%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Calpine Corp.                                                                      | Calpine Corp.                                                                                     | CUSIP: 131347CN4<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |   7800000 | PA      | $7812409.80   | 0.24%             | 2028-03-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                     | Calumet Specialty Products Partners LP / Calumet Finance Corp.                                    | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8820000 | PA      | $8833318.20   | 0.27%             | 2027-01-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                     | Calumet Specialty Products Partners LP / Calumet Finance Corp.                                    | CUSIP: 131477AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5653114.50   | 0.17%             | 2029-07-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Calumet Specialty Products Partners LP / Calumet Finance Corp.                     | Calumet Specialty Products Partners LP / Calumet Finance Corp.                                    | CUSIP: 131477AY7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4618000 | PA      | $4665847.10   | 0.14%             | 2026-04-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Camelot Return Merger Sub, Inc.                                                    | Camelot Return Merger Sub, Inc.                                                                   | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3400000 | PA      | $2637499.88   | 0.08%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                        | Capital One Financial Corp.                                                                       | CUSIP: 14040HCN3<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6800498.32   | 0.21%             | 2030-03-01      | Fixed         | 3.27%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                                        | Capital One Financial Corp.                                                                       | CUSIP: 14040HCV5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   6070000 | PA      | $6262280.66   | 0.19%             | 2030-07-26      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Carnival Corp.                                                                     | Carnival Corp.                                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |  11750000 | PA      | $12073489.02  | 0.37%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Caterpillar, Inc.                                                                  | Caterpillar, Inc.                                                                                 | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |     12500 | NS      | $7160875.00   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Celanese US Holdings LLC                                                           | Celanese US Holdings LLC                                                                          | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12377488.56  | 0.38%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| Centene Corp.                                                                      | Centene Corp.                                                                                     | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9706437.00   | 0.30%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Chevron Corp.                                                                      | Chevron Corp.                                                                                     | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    350000 | NS      | $53343500.00  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                                                                | Cisco Systems, Inc.                                                                               | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    500000 | NS      | $38515000.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                                    | Citigroup, Inc.                                                                                   | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     50000 | NS      | $5834500.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup, Inc.                                                                    | Citigroup, Inc.                                                                                   | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  24500000 | PA      | $26688328.73  | 0.82%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| Clear Channel Outdoor Holdings, Inc.                                               | Clear Channel Outdoor Holdings, Inc.                                                              | CUSIP: 18453HAC0<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2804124.40   | 0.09%             | 2028-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                             | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5131252.35   | 0.16%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                             | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4163610.80   | 0.13%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Cleveland-Cliffs, Inc.                                                             | Cleveland-Cliffs, Inc.                                                                            | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5228929.85   | 0.16%             | 2034-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                              | Clydesdale Acquisition Holdings, Inc.                                                             | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4115777.72   | 0.13%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                                | Coca-Cola Co. (The)                                                                               | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    250000 | NS      | $17477500.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                                                      | Comcast Corp., Class A                                                                            | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    400000 | NS      | $11956000.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CommScope LLC                                                                      | CommScope LLC                                                                                     | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   9846000 | PA      | $9905587.99   | 0.30%             | 2028-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CommScope LLC                                                                      | CommScope LLC                                                                                     | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5496562.50   | 0.17%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CommScope LLC                                                                      | CommScope LLC                                                                                     | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6065401.26   | 0.19%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CommScope LLC                                                                      | CommScope LLC                                                                                     | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11093179.46  | 0.34%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Connect Holding II LLC                                                             | Connect Holding II LLC                                                                            | CUSIP: 20753PAD3<br>LEI: 254900LCX7S2QHYUOI31 | Long             | DBT              | CORP              | US        |   6750000 | PA      | $6400620.34   | 0.20%             | 2031-04-03      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| ConocoPhillips                                                                     | ConocoPhillips                                                                                    | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    150000 | NS      | $14041500.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CoreWeave, Inc.                                                                    | CoreWeave, Inc.                                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2294425.00   | 0.07%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DaVita, Inc.                                                                       | DaVita, Inc.                                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8271052.50   | 0.25%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Dominion Energy, Inc.                                                              | Dominion Energy, Inc.                                                                             | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |    300000 | NS      | $17577000.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| RR Donnelley & Sons Co.                                                            | RR Donnelley & Sons Co.                                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4654102.50   | 0.14%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Dornoch Debt Merger Sub, Inc.                                                      | Dornoch Debt Merger Sub, Inc.                                                                     | CUSIP: 25830JAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  11945000 | PA      | $10356110.62  | 0.32%             | 2029-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                                                  | Duke Energy Corp.                                                                                 | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    150000 | NS      | $17581500.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                                               | Edison International                                                                              | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     75000 | NS      | $4501500.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EMRLD Borrower LP / Emerald Co-Issuer, Inc.                                        | EMRLD Borrower LP / Emerald Co-Issuer, Inc.                                                       | CUSIP: 29103CAA6<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11470382.88  | 0.35%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Endo Finance Holdings, Inc.                                                        | Endo Finance Holdings, Inc.                                                                       | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4232764.00   | 0.13%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                                  | Exxon Mobil Corp.                                                                                 | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    525035 | NS      | $63182711.90  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                                       | Fortescue Treasury Pty. Ltd.                                                                      | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   6000000 | PA      | $5808143.52   | 0.18%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                                       | Fortescue Treasury Pty. Ltd.                                                                      | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   5000000 | PA      | $5146290.95   | 0.16%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fortescue Treasury Pty. Ltd.                                                       | Fortescue Treasury Pty. Ltd.                                                                      | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   3442000 | PA      | $3594768.52   | 0.11%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWG80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14892111 | PA      | $14918572.57  | 0.46%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7286818 | PA      | $7414157.15   | 0.23%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWJR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7231930 | PA      | $7338834.10   | 0.23%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  25463682 | PA      | $25414391.86  | 0.78%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  15033843 | PA      | $15255612.86  | 0.47%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   5376056 | PA      | $5455361.76   | 0.17%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3132DWNX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7660480 | PA      | $7773484.78   | 0.24%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                               | FNMA                                                                                              | CUSIP: 313586810<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | EP               | CORP              | US        |       475 | NS      | $23512500.00  | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| FNMA                                                                               | FNMA, 30 Year                                                                                     | CUSIP: 3140QBMZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1197201 | PA      | $1157790.56   | 0.04%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                               | FNMA, 30 Year                                                                                     | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  12608012 | PA      | $12623919.25  | 0.39%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                               | FNMA, 30 Year                                                                                     | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14814197 | PA      | $14858854.07  | 0.46%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                               | FNMA, 30 Year                                                                                     | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   6083801 | PA      | $6174169.01   | 0.19%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                               | FNMA, 30 Year                                                                                     | CUSIP: 31418FNK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   8835808 | PA      | $9079772.21   | 0.28%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                                         | FHLMC Pool, 30 Year                                                                               | CUSIP: 3142J6BU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4702431 | PA      | $4832269.20   | 0.15%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.              | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.                             | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3403235.85   | 0.10%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.              | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.                             | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4100000 | PA      | $3901149.59   | 0.12%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                                | Fifth Third Bancorp                                                                               | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |    200000 | NS      | $9362000.00   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ford Motor Co.                                                                     | Ford Motor Co.                                                                                    | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2644781.58   | 0.08%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Ford Motor Co.                                                                     | Ford Motor Co.                                                                                    | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7215702.06   | 0.22%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                          | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397C27<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15063645.60  | 0.46%             | 2027-05-28      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                          | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397C68<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1610547.17   | 0.05%             | 2030-03-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co. LLC                                                          | Ford Motor Credit Co. LLC                                                                         | CUSIP: 345397G98<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   7654000 | PA      | $8007711.47   | 0.25%             | 2032-03-19      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                             | Freeport-McMoRan, Inc.                                                                            | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    249529 | NS      | $12673577.91  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N53Y3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6000000 | PA      | $6071660.28   | 0.19%             | 2055-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5MQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6170694 | PA      | $6237102.22   | 0.19%             | 2055-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5MR7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3018289 | PA      | $3078894.14   | 0.09%             | 2055-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5PJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6205444 | PA      | $6271882.95   | 0.19%             | 2055-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5PK9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   6070556 | PA      | $6192722.21   | 0.19%             | 2055-06-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5RF8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3950668 | PA      | $3992966.62   | 0.12%             | 2055-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5RG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3934758 | PA      | $4018387.17   | 0.12%             | 2055-07-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5TP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  14812453 | PA      | $15127655.25  | 0.46%             | 2055-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                               | GNMA II, Single-family, 30 Year                                                                   | CUSIP: 3618N5XQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  14928158 | PA      | $15087991.65  | 0.46%             | 2055-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GE HealthCare Technologies, Inc.                                                   | GE HealthCare Technologies, Inc.                                                                  | CUSIP: 36267VAK9<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4311021.76   | 0.13%             | 2032-11-22      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                                 | General Motors Co.                                                                                | CUSIP: 37045VAP5<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |  13500000 | PA      | $13020725.03  | 0.40%             | 2038-04-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                                 | General Motors Co.                                                                                | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5231871.10   | 0.16%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                                 | General Motors Financial Co., Inc.                                                                | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5400606.50   | 0.17%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Genmab A/S / Genmab Finance LLC                                                    | Genmab A/S / Genmab Finance LLC                                                                   | CUSIP: 37230JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |   4000000 | PA      | $4102166.16   | 0.13%             | 2032-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Genmab A/S / Genmab Finance LLC                                                    | Genmab A/S / Genmab Finance LLC                                                                   | CUSIP: 37230JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |   2000000 | PA      | $2102503.74   | 0.06%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                                    | Goldman Sachs Group, Inc. (The)                                                                   | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  17000000 | PA      | $18953922.37  | 0.58%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                                          | HCA, Inc.                                                                                         | CUSIP: 404119CQ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10411476.50  | 0.32%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Halliburton Co.                                                                    | Halliburton Co.                                                                                   | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |    135000 | NS      | $3815100.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings, Inc.                                                                | Herc Holdings, Inc.                                                                               | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2632558.60   | 0.08%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Hilcorp Energy I LP / Hilcorp Finance Co.                                          | Hilcorp Energy I LP / Hilcorp Finance Co.                                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3803908.20   | 0.12%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                             | Home Depot, Inc. (The)                                                                            | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    100000 | NS      | $34410000.00  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International, Inc.                                                      | Honeywell International, Inc.                                                                     | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     85000 | NS      | $16582650.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund                           | Franklin Institutional U.S. Government Money Market Fund                                          | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |   5384254 | NS      | $5384253.73   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp.                                              | International Business Machines Corp.                                                             | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |     30000 | NS      | $8886300.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co.                                                            | International Paper Co.                                                                           | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |    125000 | NS      | $4923750.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL                     | JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL                                    | CUSIP: 46590XAY2<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |   8000000 | PA      | $8362704.00   | 0.26%             | 2033-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                               | JPMorgan Chase & Co.                                                                              | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |    100000 | NS      | $32222000.00  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                               | JPMorgan Chase & Co.                                                                              | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3299078.25   | 0.10%             | 2034-10-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JetBlue Airways Corp. / JetBlue Loyalty LP                                         | JetBlue Airways Corp. / JetBlue Loyalty LP                                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7000000 | PA      | $7058353.47   | 0.22%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                                                  | Johnson & Johnson                                                                                 | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    350000 | NS      | $72432500.00  | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                               | JPMorgan Chase & Co., Series OO                                                                   | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3119613.48   | 0.10%             | 2030-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                              | Lockheed Martin Corp.                                                                             | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     65000 | NS      | $31438550.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co.                                                              | Matador Resources Co.                                                                             | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3518025.00   | 0.11%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                             | Mauser Packaging Solutions Holding Co.                                                            | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6951247.45   | 0.21%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solutions Holding Co.                                             | Mauser Packaging Solutions Holding Co.                                                            | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |  12032000 | PA      | $11610880.00  | 0.36%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                                   | McDonald's Corp.                                                                                  | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     30000 | NS      | $9168900.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                                                                  | Merck & Co., Inc.                                                                                 | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    500000 | NS      | $52630000.00  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology, Inc.                                                            | Micron Technology, Inc.                                                                           | CUSIP: 595112BZ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4263075.48   | 0.13%             | 2033-02-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Stagwell Global LLC                                                                | Stagwell Global LLC                                                                               | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4879564.50   | 0.15%             | 2029-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Millrose Properties, Inc.                                                          | Millrose Properties, Inc.                                                                         | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4095476.00   | 0.13%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                     | Morgan Stanley                                                                                    | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    200000 | NS      | $35506000.00  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                                     | Morgan Stanley                                                                                    | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   8650000 | PA      | $9483319.46   | 0.29%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                     | Morgan Stanley                                                                                    | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   5700000 | PA      | $5870271.14   | 0.18%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                                     | Morgan Stanley                                                                                    | CUSIP: 61747YFJ9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6711436.74   | 0.21%             | 2034-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                | Medline Borrower LP                                                                               | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9770040.50   | 0.30%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                                | Medline Borrower LP                                                                               | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4023984.00   | 0.12%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NCL Corp. Ltd.                                                                     | NCL Corp. Ltd.                                                                                    | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2049074.70   | 0.06%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                   | NRG Energy, Inc.                                                                                  | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20002094.80  | 0.61%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                                   | NRG Energy, Inc.                                                                                  | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7603262.70   | 0.23%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                                                          | Nestle SA                                                                                         | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    190000 | NS      | $18768200.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Newell Brands, Inc.                                                                | Newell Brands, Inc.                                                                               | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2624620.00   | 0.08%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                                               | NextEra Energy, Inc.                                                                              | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |    450000 | NS      | $36126000.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                                                               | NextEra Energy, Inc.                                                                              | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |     50000 | NS      | $2437500.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                                                         | Occidental Petroleum Corp.                                                                        | CUSIP: 674599ED3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6463614.00   | 0.20%             | 2030-09-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                                         | Occidental Petroleum Corp.                                                                        | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3061913.01   | 0.09%             | 2034-10-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                                     | Opal Bidco SAS                                                                                    | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |   2750000 | PA      | $2818526.59   | 0.09%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                       | Oracle Corp.                                                                                      | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   6750000 | PA      | $7040064.17   | 0.22%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                                       | Oracle Corp.                                                                                      | CUSIP: 68389XDM4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2396099.68   | 0.07%             | 2035-09-26      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                  | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                                 | CUSIP: 68622FAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2445546.09   | 0.08%             | 2034-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Organon & Co. / Organon Foreign Debt Co-Issuer BV                                  | Organon & Co. / Organon Foreign Debt Co-Issuer BV                                                 | CUSIP: 68622TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2935814.04   | 0.09%             | 2028-04-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                           | PNC Financial Services Group, Inc. (The)                                                          | CUSIP: 693475BJ3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8650848.80   | 0.27%             | 2033-10-28      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                                      | PepsiCo, Inc.                                                                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    350000 | NS      | $50232000.00  | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer, Inc.                                                                       | Pfizer, Inc.                                                                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |   1059816 | NS      | $26389418.40  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International, Inc.                                                  | Philip Morris International, Inc.                                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    130000 | NS      | $20852000.00  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilgrim's Pride Corp.                                                              | Pilgrim's Pride Corp.                                                                             | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4281042.04   | 0.13%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                                         | Procter & Gamble Co. (The)                                                                        | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    300000 | NS      | $42993000.00  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics, Inc.                                                            | Qnity Electronics, Inc.                                                                           | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2047392.00   | 0.06%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Qnity Electronics, Inc.                                                            | Qnity Electronics, Inc.                                                                           | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1712372.54   | 0.05%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Quikrete Holdings, Inc.                                                            | Quikrete Holdings, Inc.                                                                           | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6769977.50   | 0.21%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Rain Carbon, Inc.                                                                  | Rain Carbon, Inc.                                                                                 | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |   7300000 | PA      | $7610874.15   | 0.23%             | 2029-09-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| RTX Corp.                                                                          | RTX Corp.                                                                                         | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     90000 | NS      | $16506000.00  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp.                                                                | Regal Rexnord Corp.                                                                               | CUSIP: 758750AP8<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5380941.55   | 0.17%             | 2033-04-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Rivian Holdings LLC / Rivian LLC / Rivian Automotive LLC                           | Rivian Holdings LLC / Rivian LLC / Rivian Automotive LLC                                          | CUSIP: 76954LAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2951352.30   | 0.09%             | 2031-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Shell plc                                                                          | Shell plc                                                                                         | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    250000 | NS      | $18370000.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                                           | SCIH Salt Holdings, Inc.                                                                          | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4388000 | PA      | $4404841.14   | 0.14%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SCIH Salt Holdings, Inc.                                                           | SCIH Salt Holdings, Inc.                                                                          | CUSIP: 78433BAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5528297.50   | 0.17%             | 2029-05-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| SLB Ltd.                                                                           | SLB Ltd.                                                                                          | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    481415 | NS      | $18476707.70  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                                                         | Charles Schwab Corp. (The)                                                                        | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    100000 | NS      | $9991000.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra, Inc.                                                                       | Sempra, Inc.                                                                                      | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |    180000 | NS      | $15892200.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines, Inc. / SkyMiles IP Ltd.                                           | Delta Air Lines, Inc. / SkyMiles IP Ltd.                                                          | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5031198.65   | 0.15%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                 | Southern Co. (The)                                                                                | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    360000 | NS      | $31392000.00  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                                                 | Southern Co. (The), Series A                                                                      | CUSIP: 842587842<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    135000 | NS      | $6798600.00   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                                                 | Southern Co. (The)                                                                                | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10610480.30  | 0.33%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                                 | Southern Co. (The), Series 2025                                                                   | CUSIP: 842587EB9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1044260.69   | 0.03%             | 2055-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Target Corp.                                                                       | Target Corp.                                                                                      | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     75000 | NS      | $7331250.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp.                                                             | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  13580000 | PA      | $13649013.56  | 0.42%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                             | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  12500000 | PA      | $12806792.63  | 0.39%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                             | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10410490.00  | 0.32%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp.                                                             | Tenet Healthcare Corp.                                                                            | CUSIP: 88033GDV9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10302190.00  | 0.32%             | 2033-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Finance Netherlands III BV                                     | Teva Pharmaceutical Finance Netherlands III BV                                                    | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |  10000000 | PA      | $10385874.40  | 0.32%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                                            | Texas Instruments, Inc.                                                                           | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    155000 | NS      | $26890950.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm, Inc.                                                                    | TransDigm, Inc.                                                                                   | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5094329.65   | 0.16%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                    | TransDigm, Inc.                                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15625035.00  | 0.48%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| TransDigm, Inc.                                                                    | TransDigm, Inc.                                                                                   | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   5750000 | PA      | $5993335.46   | 0.18%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Tronox, Inc.                                                                       | Tronox, Inc.                                                                                      | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $6308248.32   | 0.19%             | 2029-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Tronox, Inc.                                                                       | Tronox, Inc.                                                                                      | CUSIP: 897051AD0<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $10991791.69  | 0.34%             | 2030-09-30      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                             | Truist Financial Corp.                                                                            | CUSIP: 89788NAA8<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4024005.72   | 0.12%             | 2033-07-28      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                       | MPH Acquisition Holdings LLC, First Lien, Exchange First Out CME Term Loan                        | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |   1580554 | PA      | $1586876.48   | 0.05%             | 2030-12-31      | Variable      | 7.59%                 | No            |                  2 | On Loan: No      |
| X Corp.                                                                            | X Corp., First Lien, CME Term Loan, B1                                                            | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   7670918 | PA      | $7553131.42   | 0.23%             | 2029-10-26      | Variable      | 10.45%                | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                              | Clydesdale Acquisition Holdings, Inc., First Lien, 2025 Incremental Closing Date CME Term Loan, B | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |   3913667 | PA      | $3915056.04   | 0.12%             | 2032-04-01      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings, Inc.                                              | Clydesdale Acquisition Holdings, Inc., First Lien, 2025 Incremental Delayed Draw CME Term Loan, B | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     55216 | PA      | $55236.08     | 0.00%             | 2032-04-01      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| Union Pacific Corp.                                                                | Union Pacific Corp.                                                                               | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    129993 | NS      | $30069980.76  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Pass-Through Trust                                                 | United Airlines Pass-Through Trust, Series 2020-1, Class A                                        | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3400583 | PA      | $3489254.91   | 0.11%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| United Airlines, Inc.                                                              | United Airlines, Inc.                                                                             | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   8750000 | PA      | $8718216.50   | 0.27%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| United Airlines Pass-Through Trust                                                 | United Airlines Pass-Through Trust, Series 2023-1, Class A                                        | CUSIP: 90932LAJ6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5877717 | PA      | $6160866.37   | 0.19%             | 2036-01-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                                        | United Parcel Service, Inc., Class B                                                              | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |    139000 | NS      | $13787410.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals North America, Inc.                                                 | United Rentals North America, Inc.                                                                | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |  12800000 | PA      | $12808844.80  | 0.39%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                                 | United Rentals North America, Inc.                                                                | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8224544.16   | 0.25%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                                         | US Bancorp                                                                                        | CUSIP: 91159HJJ0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10712802.30  | 0.33%             | 2033-10-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| U.S. Treasury Bills                                                                | U.S. Treasury Bills                                                                               | CUSIP: 912797RK5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  20000000 | PA      | $19947259.20  | 0.61%             | 2026-01-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Bonds                                                                               | CUSIP: 912803HF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 115000000 | PA      | $27882788.45  | 0.86%             | 2054-11-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Bonds                                                                               | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  42500000 | PA      | $34394286.95  | 1.06%             | 2053-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Bonds                                                                               | CUSIP: 912810TT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  21000000 | PA      | $18596484.48  | 0.57%             | 2053-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Bonds                                                                               | CUSIP: 912810UE6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9435156.20   | 0.29%             | 2054-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Notes                                                                               | CUSIP: 91282CEP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $28291992.30  | 0.87%             | 2032-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Notes                                                                               | CUSIP: 91282CHW4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $30533203.20  | 0.94%             | 2030-08-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Notes                                                                               | CUSIP: 91282CNF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $16212812.48  | 0.50%             | 2032-05-31      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| United States of America                                                           | U.S. Treasury Notes                                                                               | CUSIP: 91282CNG2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $16206249.92  | 0.50%             | 2030-05-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Univision Communications, Inc.                                                     | Univision Communications, Inc.                                                                    | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3226584.00   | 0.10%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                 | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $9311652.08   | 0.29%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                 | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2037848.86   | 0.06%             | 2030-12-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Venture Global Plaquemines LNG LLC                                                 | Venture Global Plaquemines LNG LLC                                                                | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1840099.77   | 0.06%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                           | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9120992.31   | 0.28%             | 2028-06-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                           | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7462544.25   | 0.23%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                           | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   5161000 | PA      | $4970788.04   | 0.15%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Venture Global LNG, Inc.                                                           | Venture Global LNG, Inc.                                                                          | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |  12250000 | PA      | $9683143.58   | 0.30%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                                       | Verizon Communications, Inc.                                                                      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    250000 | NS      | $10182500.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp.                                                                       | Vistra Corp.                                                                                      | CUSIP: 92840MAC6<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   7800000 | PA      | $7965388.63   | 0.24%             | 2026-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                          | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  10505000 | PA      | $10378306.55  | 0.32%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                          | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   4700000 | PA      | $4980341.75   | 0.15%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Vistra Operations Co. LLC                                                          | Vistra Operations Co. LLC                                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2950892.67   | 0.09%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                     | Weatherford International Ltd.                                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   5316000 | PA      | $5452621.20   | 0.17%             | 2030-04-30      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Weatherford International Ltd.                                                     | Weatherford International Ltd.                                                                    | CUSIP: 947075AW7<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |   3500000 | PA      | $3586247.00   | 0.11%             | 2033-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                                  | Wells Fargo & Co.                                                                                 | CUSIP: 95000U3F8<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10489727.90  | 0.32%             | 2034-07-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| OPAL US LLC                                                                        | OPAL US LLC, First Lien, CME Term Loan, B4                                                        | CUSIP: F7000QAC5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5735625 | PA      | $5778642.19   | 0.18%             | 2032-04-28      | Variable      | 6.69%                 | No            |                  2 | On Loan: No      |
| Williams Cos., Inc. (The)                                                          | Williams Cos., Inc. (The)                                                                         | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5269256.35   | 0.16%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.                                  | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.                                                 | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6026796.00   | 0.19%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                              | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.                                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15346436.55  | 0.47%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Xcel Energy, Inc.                                                                  | Xcel Energy, Inc.                                                                                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    130000 | NS      | $9601800.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS/Community Health Systems, Inc.                                                 | CHS/Community Health Systems, Inc.                                                                | CUSIP: N/A<br>LEI: 5493007X5NC5XI1BB106       | Long             | DBT              | CORP              | US        |  20000000 | PA      | $21499500.00  | 0.66%             | 2033-06-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Par Health, Inc.                                                                   | Par Health, Inc.                                                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     48391 | NS      | $453665.63    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                               | JPMorgan Chase & Co., Series NN                                                                   | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5306329.15   | 0.16%             | 2029-06-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA into Truist Financial Corp.                                 | JPMorgan Chase Bank NA into Truist Financial Corp.                                                | CUSIP: 4662AA448<br>LEI: 7H6GLXDRUGQFU57RNE97 | Long             | SN               | CORP              | US        |    168000 | NS      | $7920392.49   | 0.24%             | 2026-03-02      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into Starbucks Corp.                                   | Toronto-Dominion Bank (The) into Starbucks Corp.                                                  | CUSIP: 891160A52<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    190000 | NS      | $16043946.87  | 0.49%             | 2026-01-12      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into UnitedHealth Group, Inc.              | Citigroup Global Markets Holdings, Inc. into UnitedHealth Group, Inc.                             | CUSIP: 17332B132<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |     15000 | NS      | $4999921.17   | 0.15%             | 2026-01-27      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA into Boeing Co. (The)                                       | JPMorgan Chase Bank NA into Boeing Co. (The)                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     65000 | NS      | $12817208.76  | 0.39%             | 2026-01-22      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| UBS AG into Bank of America Corp.                                                  | UBS AG into Bank of America Corp.                                                                 | CUSIP: 90301T830<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |    500000 | NS      | $25759089.26  | 0.79%             | 2026-01-28      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Intel Corp.                           | Citigroup Global Markets Holdings, Inc. into Intel Corp.                                          | CUSIP: 17332B207<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | SN               | CORP              | US        |    541000 | NS      | $17964908.15  | 0.55%             | 2026-03-03      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Citigroup, Inc.                                           | Wells Fargo Bank NA into Citigroup, Inc.                                                          | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    130000 | NS      | $12446315.73  | 0.38%             | 2026-02-25      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Microsoft Corp.                                              | Merrill Lynch BV into Microsoft Corp.                                                             | CUSIP: 59027W328<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |     32655 | NS      | $14455926.35  | 0.44%             | 2026-03-09      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Amazon.com, Inc.                                            | Barclays Bank plc into Amazon.com, Inc.                                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     50000 | NS      | $10922286.65  | 0.34%             | 2026-03-25      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Goldman Sachs International Bank into NIKE, Inc.                                   | Goldman Sachs International Bank into NIKE, Inc.                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    100000 | NS      | $6479295.54   | 0.20%             | 2026-03-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Exxon Mobil Corp.                                    | Mizuho Markets Cayman LP into Exxon Mobil Corp.                                                   | CUSIP: 60701E246<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |    159000 | NS      | $18958388.99  | 0.58%             | 2026-04-07      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into CVS Health Corp.                                          | Wells Fargo Bank NA into CVS Health Corp.                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    150000 | NS      | $11382231.09  | 0.35%             | 2026-04-09      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| UBS AG into Marvell Technology, Inc.                                               | UBS AG into Marvell Technology, Inc.                                                              | CUSIP: N/A<br>LEI: BFM8T61CT2L1QCEMIK50       | Long             | SN               | CORP              | CH        |    110000 | NS      | $8117456.87   | 0.25%             | 2026-05-14      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Analog Devices, Inc.                                 | Mizuho Markets Cayman LP into Analog Devices, Inc.                                                | CUSIP: 60701E345<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     80000 | NS      | $18296912.25  | 0.56%             | 2026-05-18      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Amgen, Inc.                                          | Mizuho Markets Cayman LP into Amgen, Inc.                                                         | CUSIP: 60701E352<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     60000 | NS      | $18265527.01  | 0.56%             | 2026-06-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Salesforce, Inc.                                          | Wells Fargo Bank NA into Salesforce, Inc.                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     35000 | NS      | $9230947.82   | 0.28%             | 2026-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Comcast Corp.                                                | Merrill Lynch BV into Comcast Corp.                                                               | CUSIP: N/A<br>LEI: 549300RQ1D1WIE085245       | Long             | SN               | CORP              | NL        |    255000 | NS      | $7707529.97   | 0.24%             | 2026-06-22      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into Target Corp.                                      | Toronto-Dominion Bank (The) into Target Corp.                                                     | CUSIP: 89112B103<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |     80000 | NS      | $7770648.63   | 0.24%             | 2026-06-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| BNP Paribas SA into Texas Instruments, Inc.                                        | BNP Paribas SA into Texas Instruments, Inc.                                                       | CUSIP: N/A<br>LEI: R0MUWSFPU8MPRO8K5P83       | Long             | SN               | CORP              | FR        |    113500 | NS      | $20026535.38  | 0.62%             | 2026-07-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into UnitedHealth Group, Inc.                                     | Merrill Lynch BV into UnitedHealth Group, Inc.                                                    | CUSIP: N/A<br>LEI: 549300RQ1D1WIE085245       | Long             | SN               | CORP              | NL        |     25000 | NS      | $8205889.97   | 0.25%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| UBS AG into Accenture plc                                                          | UBS AG into Accenture plc                                                                         | CUSIP: 90304M253<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |     31000 | NS      | $8486464.86   | 0.26%             | 2026-07-13      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into International Business Machines Corp. | Citigroup Global Markets Holdings, Inc. into International Business Machines Corp.                | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |     35000 | NS      | $9379803.62   | 0.29%             | 2026-08-21      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into Freeport-McMoRan, Inc.                                | BNP Paribas Issuance BV into Freeport-McMoRan, Inc.                                               | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |    400000 | NS      | $18141221.98  | 0.56%             | 2026-08-28      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BofA Finance LLC into Albemarle Corp.                                              | BofA Finance LLC into Albemarle Corp.                                                             | CUSIP: N/A<br>LEI: 549300CGZYSEY3ZSIW16       | Long             | SN               | CORP              | US        |    255000 | NS      | $25684675.00  | 0.79%             | 2026-08-28      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Bank of America NA into Microchip Technology, Inc.                                 | Bank of America NA into Microchip Technology, Inc.                                                | CUSIP: 59027W401<br>LEI: B4TYDEB6GKMZO031MB27 | Long             | SN               | CORP              | US        |    200000 | NS      | $12808828.27  | 0.39%             | 2026-09-03      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Micron Technology, Inc.                                     | Barclays Bank plc into Micron Technology, Inc.                                                    | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |     90000 | NS      | $13216276.23  | 0.41%             | 2026-09-08      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into UnitedHealth Group, Inc.                                     | Merrill Lynch BV into UnitedHealth Group, Inc.                                                    | CUSIP: 59028A119<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |     25000 | NS      | $8164207.29   | 0.25%             | 2026-09-25      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Halliburton Co.                                              | Merrill Lynch BV into Halliburton Co.                                                             | CUSIP: 59028A127<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    325000 | NS      | $8314755.56   | 0.26%             | 2026-09-21      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Microchip Technology, Inc.                                  | Barclays Bank plc into Microchip Technology, Inc.                                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | GB        |    200000 | NS      | $12763464.58  | 0.39%             | 2026-10-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into Target Corp.                                          | BNP Paribas Issuance BV into Target Corp.                                                         | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |     40000 | NS      | $3752406.45   | 0.12%             | 2026-10-07      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Morgan Stanley Finance LLC into International Business Machines Corp.              | Morgan Stanley Finance LLC into International Business Machines Corp.                             | CUSIP: 61772E198<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |     40000 | NS      | $11415389.27  | 0.35%             | 2027-04-08      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Home Depot, Inc. (The)                     | J.P. Morgan Structured Products BV into Home Depot, Inc. (The)                                    | CUSIP: N/A<br>LEI: XZYUUT6IYN31D9K77X08       | Long             | SN               | CORP              | NL        |     52700 | NS      | $18811087.13  | 0.58%             | 2026-10-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into NextEra Energy, Inc.                                      | Wells Fargo Bank NA into NextEra Energy, Inc.                                                     | CUSIP: 95004P449<br>LEI: KB1H1DSPRFMYMCUFXT09 | Long             | SN               | CORP              | US        |    100000 | NS      | $8185304.44   | 0.25%             | 2026-10-22      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Dell Technologies, Inc.                              | Mizuho Markets Cayman LP into Dell Technologies, Inc.                                             | CUSIP: 60701E485<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |    100000 | NS      | $13434605.63  | 0.41%             | 2026-11-09      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Toronto-Dominion Bank (The) into QUALCOMM, Inc.                                    | Toronto-Dominion Bank (The) into QUALCOMM, Inc.                                                   | CUSIP: 89112B194<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |     85000 | NS      | $14847652.63  | 0.46%             | 2026-11-25      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Meta Platforms, Inc.                                 | Mizuho Markets Cayman LP into Meta Platforms, Inc.                                                | CUSIP: 60701B523<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     26000 | NS      | $16430754.80  | 0.51%             | 2026-12-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| UBS AG into Oracle Corp.                                                           | UBS AG into Oracle Corp.                                                                          | CUSIP: 90304M386<br>LEI: BFM8T61CT2L1QCEMIK50 | Long             | SN               | CORP              | CH        |     33000 | NS      | $6304213.13   | 0.19%             | 2027-01-11      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Microsoft Corp.                                      | Mizuho Markets Cayman LP into Microsoft Corp.                                                     | CUSIP: 60701B747<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     47000 | NS      | $22689905.92  | 0.70%             | 2027-01-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Structured Products BV into Amazon.com, Inc.                           | J.P. Morgan Structured Products BV into Amazon.com, Inc.                                          | CUSIP: N/A<br>LEI: XZYUUT6IYN31D9K77X08       | Long             | SN               | CORP              | NL        |     36000 | NS      | $8229390.88   | 0.25%             | 2027-01-11      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| EURO                                                                               | EURO                                                                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |       538 | OU      | $632.13       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                                                                   | TotalEnergies SE                                                                                  | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |    250000 | NS      | $16355000.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International plc                                                 | Johnson Controls International plc                                                                | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |    100000 | NS      | $11975000.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic plc                                                                      | Medtronic plc                                                                                     | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |    100000 | NS      | $9606000.00   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Keenova Therapeutics plc                                                           | Keenova Therapeutics plc                                                                          | CUSIP: N/A<br>LEI: 549300LMDE3RUP8Z3L60       | Long             | EC               | CORP              | IE        |     48391 | NS      | $4328574.95   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| LyondellBasell Industries NV                                                       | LyondellBasell Industries NV, Class A                                                             | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | NL        |    110000 | NS      | $4763000.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardagh Group SA                                                                    | Ardagh Group SA                                                                                   | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |   8402000 | PA      | $9120814.96   | 0.28%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Yeoman Capital SA                                                                  | Yeoman Capital SA                                                                                 | CUSIP: 985923101<br>LEI: 549300ORV6YW6ESSNQ21 | Long             | EC               | CORP              | LU        |    250000 | NS      | $2191160.40   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Franklin Templeton Variable Insurance Products Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer