# EDGAR Filing Document

**Accession Number:** 0000809593
**File Stem:** 0001752724-25-161810
**Filing Date:** 2025-6
**Character Count:** 163067
**Document Hash:** 30593e2df869478d58598770a4049668
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-161810.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001752724-25-161810

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERICAN BEACON FUNDS
- **CENTRAL INDEX KEY:** 0000809593

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04984
- **FILM NUMBER:** 251085284

**BUSINESS ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039
- **BUSINESS PHONE:** 8173916100

**MAIL ADDRESS:**
- **STREET 1:** 220 EAST LAS COLINAS BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** IRVING
- **STATE:** TX
- **ZIP:** 75039

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN AADVANTAGE FUNDS
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN EAGLE FUNDS
- **DATE OF NAME CHANGE:** 19890813

## Series and Classes Contracts Data

### American Beacon Balanced Fund (Series ID: S000000718)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000002089 | R5 Class       | AADBX           |
| C000002090 | Investor Class | AABPX           |
| C000004802 | Advisor Class  | ABLSX           |
| C000085576 | Y Class        | ACBYX           |
| C000089421 | A Class        | ABFAX           |
| C000092338 | C Class        | ABCCX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** AMERICAN BEACON FUNDS

- **b. Investment Company Act file number:** 811-04984

- **c. CIK number of Registrant:** 0000809593

- **d. LEI of Registrant:** 549300EXCES9V5RWB620

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

  - **Street Address 1:** 220 EAST LAS COLINAS BOULEVARD

  - **City:** IRVING

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 75039

  - **Telephone number:** 817-391-6100

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

- **a. Name of Series:** American Beacon Balanced Fund

- **b. EDGAR series identifier (if any):** S000000718

- **c. LEI of Series:** 549300280K2PWQ7CP205

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $101715561.17

**Total Liabilities:** $496665.83

**Net Assets:** $101218895.34

**Cash Not Reported:** $221969.58

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -29.86000000 | **1-Year:** -1035.93000000 | **5-Year:** -3034.51000000 | **10-Year:** -6833.72000000 | **30-Year:** -4221.64000000

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

- **3-Month:** -0.12000000 | **1-Year:** -2.46000000 | **5-Year:** -16.77000000 | **10-Year:** -52.58000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000002090 | 0.67%                | -2.26%               | -2.33%               |
| Class ID C000092338 | 0.58%                | -2.30%               | -2.42%               |
| Class ID C000002089 | 0.74%                | -2.26%               | -2.28%               |
| Class ID C000004802 | 0.67%                | -2.30%               | -2.35%               |
| Class ID C000089421 | 0.59%                | -2.27%               | -2.26%               |
| Class ID C000085576 | 0.73%                | -2.30%               | -2.27%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $660631.73               | $-140958.11                                |
| Month 2  | $111751.42               | $-2661004.92                               |
| Month 3  | $223258.06               | $-2771608.48                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| MetLife Inc                                       | MetLife, Inc.                                                                 | CUSIP: 59156RBL1<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    193000 | PA      | $169162.51    | 0.17%             | 2044-12-15      | Fixed         | 4.72%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $252890.63    | 0.25%             | 2030-02-28      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| MORGAN STANLEY                                    | Morgan Stanley                                                                | CUSIP: 61747YEF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    355000 | PA      | $295588.13    | 0.29%             | 2036-09-16      | Fixed         | 2.48%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WTZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    249068 | PA      | $220231.47    | 0.22%             | 2051-12-20      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| HBOS PLC                                          | HBOS PLC                                                                      | CUSIP: 4041A2AF1<br>LEI: 213800RS21X7UUH5QU25 | Long             | DBT              | CORP              | GB        |     80000 | PA      | $80037.71     | 0.08%             | 2033-11-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36225AXH8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      2550 | PA      | $2583.77      | 0.00%             | 2027-11-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Bayer US Finance II LLC                           | Bayer U.S. Finance II LLC                                                     | CUSIP: 07274NBG7<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |    245000 | PA      | $170074.83    | 0.17%             | 2045-04-15      | Fixed         | 3.95%                 | No            | 2                  | On Loan: No      |
| AMAZON.COM INC                                    | Amazon.com, Inc.                                                              | CUSIP: 023135CQ7<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    250000 | PA      | $256319.21    | 0.25%             | 2029-12-01      | Fixed         | 4.65%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WG44<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     56264 | PA      | $49774.53     | 0.05%             | 2051-06-20      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Shell PLC                                         | Shell PLC                                                                     | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      8435 | NS      | $543888.80    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 912828YS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $183882.81    | 0.18%             | 2029-11-15      | Fixed         | 1.75%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 9128286B1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    450000 | PA      | $433265.63    | 0.43%             | 2029-02-15      | Fixed         | 2.62%                 | No            | 2                  | On Loan: No      |
| GM Financial Revolving Receivables Trust          | GM Financial Revolving Receivables Trust                                      | CUSIP: 36263HAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90000 | PA      | $86153.81     | 0.09%             | 2034-06-12      | Fixed         | 1.17%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133AXUH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    124973 | PA      | $105119.33    | 0.10%             | 2051-11-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Warner Bros Discovery Inc                         | Warner Bros Discovery, Inc.                                                   | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |     21599 | NS      | $187263.33    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| DUKE ENERGY CAROLINAS                             | Duke Energy Carolinas LLC                                                     | CUSIP: 26442CBQ6<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55735.43     | 0.06%             | 2035-03-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DPBD9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    115571 | PA      | $92435.24     | 0.09%             | 2052-02-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| General Motors Co                                 | General Motors Co.                                                            | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     15142 | NS      | $685024.08    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| AT&T INC                                          | AT&T, Inc.                                                                    | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     70000 | PA      | $48268.58     | 0.05%             | 2057-12-01      | Fixed         | 3.80%                 | No            | 2                  | On Loan: No      |
| PACIFIC GAS & ELECTRIC                            | Pacific Gas & Electric Co.                                                    | CUSIP: 694308KQ9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40582.61     | 0.04%             | 2029-05-15      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| FEDERAL FARM CREDIT BANK                          | Federal Farm Credit Banks Funding Corp.                                       | CUSIP: 3133EN7B0<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    300000 | PA      | $297480.67    | 0.29%             | 2030-01-25      | Fixed         | 3.75%                 | No            | 2                  | On Loan: No      |
| PEPSICO INC                                       | PepsiCo, Inc.                                                                 | CUSIP: 713448FR4<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | DBT              | CORP              | US        |    300000 | PA      | $304330.01    | 0.30%             | 2028-05-15      | Fixed         | 4.45%                 | No            | 2                  | On Loan: No      |
| Appalachian Power Co                              | Appalachian Power Co.                                                         | CUSIP: 037735CX3<br>LEI: 3SCHO1ABYYIG382BEI70 | Long             | DBT              | CORP              | US        |    210000 | PA      | $166848.48    | 0.16%             | 2049-03-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| BAT Capital Corp                                  | BAT Capital Corp.                                                             | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    260000 | PA      | $204587.91    | 0.20%             | 2047-08-15      | Fixed         | 4.54%                 | No            | 2                  | On Loan: No      |
| HOME DEPOT INC                                    | Home Depot, Inc.                                                              | CUSIP: 437076BY7<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    500000 | PA      | $475493.38    | 0.47%             | 2029-06-15      | Fixed         | 2.95%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QCCF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    142899 | PA      | $134340.13    | 0.13%             | 2049-11-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| RTX CORP                                          | RTX Corp.                                                                     | CUSIP: 913017BP3<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    217000 | PA      | $230369.37    | 0.23%             | 2038-07-15      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| Dominion Energy Inc                               | Dominion Energy, Inc.                                                         | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     12400 | NS      | $674312.00    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Ford Credit Auto Owner Trust/Ford Credit          | Ford Credit Auto Owner Trust                                                  | CUSIP: 345285AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    110000 | PA      | $105398.60    | 0.10%             | 2034-05-15      | Fixed         | 1.53%                 | No            | 2                  | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                          | Public Service Enterprise Group, Inc.                                         | CUSIP: 744573AZ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45421.45     | 0.04%             | 2034-04-01      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CGJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $346185.55    | 0.34%             | 2030-01-31      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WZC5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     94257 | PA      | $87985.54     | 0.09%             | 2052-03-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Hess Corp                                         | Hess Corp.                                                                    | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |      2731 | NS      | $352435.55    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31292R7M8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    126256 | PA      | $118109.85    | 0.12%             | 2042-06-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| JOHN DEERE CAPITAL CORP                           | John Deere Capital Corp.                                                      | CUSIP: 24422EVD8<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |    500000 | PA      | $461296.38    | 0.46%             | 2030-01-09      | Fixed         | 2.45%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36225AVG2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1857 | PA      | $1877.08      | 0.00%             | 2027-08-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| UnitedHealth Group Inc                            | UnitedHealth Group, Inc.                                                      | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1779 | NS      | $731951.76    | 0.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Philip Morris International Inc                   | Philip Morris International, Inc.                                             | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      6465 | NS      | $1107842.40   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QT2N8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    201034 | PA      | $201730.24    | 0.20%             | 2054-02-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31418RQQ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     47171 | PA      | $47520.64     | 0.05%             | 2040-05-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| ENTERGY CORP                                      | Entergy Corp.                                                                 | CUSIP: 29364GAL7<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     30000 | PA      | $27254.17     | 0.03%             | 2030-06-15      | Fixed         | 2.80%                 | No            | 2                  | On Loan: No      |
| Wells Fargo & Co                                  | Wells Fargo & Co.                                                             | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     17448 | NS      | $1238982.48   | 1.22%             |  |  |  | No            | 1                  | On Loan: No      |
| BAYER US FINANCE LLC                              | Bayer U.S. Finance LLC                                                        | CUSIP: 07274EAM5<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203248.03    | 0.20%             | 2053-11-21      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31418BCG9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23501 | PA      | $23603.33     | 0.02%             | 2034-04-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| BAYER US FINANCE LLC                              | Bayer U.S. Finance LLC                                                        | CUSIP: 07274EAH6<br>LEI: 54930093Q75GSEM74I71 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203518.20    | 0.20%             | 2026-11-21      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| MARKEL GROUP INC                                  | Markel Group, Inc.                                                            | CUSIP: 570535AX2<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    125000 | PA      | $82578.97     | 0.08%             | 2052-05-07      | Fixed         | 3.45%                 | No            | 2                  | On Loan: No      |
| HP ENTERPRISE CO                                  | Hewlett Packard Enterprise Co.                                                | CUSIP: 42824CAY5<br>LEI: 549300BX44RGX6ANDV88 | Long             | DBT              | CORP              | US        |    500000 | PA      | $495076.32    | 0.49%             | 2045-10-15      | Fixed         | 6.35%                 | No            | 2                  | On Loan: No      |
| WALMART INC                                       | Walmart, Inc.                                                                 | CUSIP: 931142EQ2<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140072.27    | 0.14%             | 2029-09-24      | Fixed         | 2.38%                 | No            | 2                  | On Loan: No      |
| MetLife Inc                                       | MetLife, Inc.                                                                 | CUSIP: 59156RAJ7<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |    169000 | PA      | $183442.01    | 0.18%             | 2034-06-15      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| FEDERAL HOME LOAN BANK                            | Federal Home Loan Banks                                                       | CUSIP: 3130ATUT2<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    350000 | PA      | $359420.00    | 0.36%             | 2029-12-14      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Schlumberger NV                                   | Schlumberger NV                                                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |      7600 | NS      | $252700.00    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| BX Trust                                          | BX Commercial Mortgage Trust                                                  | CUSIP: 05609VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    140000 | PA      | $138687.50    | 0.14%             | 2036-09-15      | Floating      | 5.14%                 | No            | 2                  | On Loan: No      |
| BAT CAPITAL CORP                                  | BAT Capital Corp.                                                             | CUSIP: 05526DBZ7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36548.65     | 0.04%             | 2034-02-20      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| FIDELITY NATL FINANCIAL                           | Fidelity National Financial, Inc.                                             | CUSIP: 31620RAL9<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |     55000 | PA      | $32468.95     | 0.03%             | 2051-09-17      | Fixed         | 3.20%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XMZF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    119502 | PA      | $95581.28     | 0.09%             | 2052-01-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DQ3U8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    168840 | PA      | $171734.22    | 0.17%             | 2053-08-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| IBM CORP                                          | International Business Machines Corp.                                         | CUSIP: 459200KC4<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    500000 | PA      | $397720.27    | 0.39%             | 2049-05-15      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133L8CZ6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    157658 | PA      | $143316.49    | 0.14%             | 2036-03-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Air Products and Chemicals Inc                    | Air Products & Chemicals, Inc.                                                | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      2996 | NS      | $812185.64    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132E0CE0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    108992 | PA      | $110112.76    | 0.11%             | 2053-09-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Permian Resources Corp                            | Permian Resources Corp.                                                       | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |     31009 | NS      | $365906.20    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36225BY93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12182 | PA      | $12652.72     | 0.01%             | 2033-07-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179TJX4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     12275 | PA      | $11258.52     | 0.01%             | 2047-10-20      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| SYSTEM ENERGY RESOURCES                           | System Energy Resources, Inc.                                                 | CUSIP: 871911AV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $44362.21     | 0.04%             | 2034-12-15      | Fixed         | 5.30%                 | No            | 2                  | On Loan: No      |
| Everest Group Ltd                                 | Everest Group Ltd.                                                            | CUSIP: 000000000<br>LEI: 549300N24XF2VV0B3570 | Long             | EC               | CORP              | BM        |       901 | NS      | $323305.83    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| MARKEL GROUP INC                                  | Markel Group, Inc.                                                            | CUSIP: 570535AT1<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    100000 | PA      | $86542.41     | 0.09%             | 2049-05-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Cognizant Technology Solutions Corp               | Cognizant Technology Solutions Corp.                                          | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      6018 | NS      | $442744.26    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140X8NT0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    104325 | PA      | $95284.86     | 0.09%             | 2035-11-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Micron Technology Inc                             | Micron Technology, Inc.                                                       | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      2380 | NS      | $183141.00    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XGW21<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    121646 | PA      | $96485.30     | 0.10%             | 2051-04-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| DUKE ENERGY PROGRESS NC                           | Duke Energy Progress NC Storm Funding LLC                                     | CUSIP: 26444BAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    265000 | PA      | $220630.36    | 0.22%             | 2037-07-01      | Fixed         | 2.39%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 312945DS4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     37903 | PA      | $36571.64     | 0.04%             | 2041-01-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CFV8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $252011.72    | 0.25%             | 2032-11-15      | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| Olin Corp                                         | Olin Corp.                                                                    | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |     10200 | NS      | $220524.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QK5R5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    108077 | PA      | $94351.16     | 0.09%             | 2051-06-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Citigroup Inc                                     | Citigroup, Inc.                                                               | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     15457 | NS      | $1056949.66   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                           | CUSIP: 912810QX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $193007.81    | 0.19%             | 2042-08-15      | Fixed         | 2.75%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36225B2X5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17110 | PA      | $17793.78     | 0.02%             | 2033-12-15      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Omnicom Group Inc                                 | Omnicom Group, Inc.                                                           | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      2786 | NS      | $212181.76    | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                           | CUSIP: 912810EV6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    179000 | PA      | $180491.67    | 0.18%             | 2025-08-15      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| General Dynamics Corp                             | General Dynamics Corp.                                                        | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |       550 | NS      | $149666.00    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Xcel Energy Inc                                   | Xcel Energy, Inc.                                                             | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     11335 | NS      | $801384.50    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| BURLINGTN NORTH SANTA FE                          | Burlington Northern Santa Fe LLC                                              | CUSIP: 12189LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    202000 | PA      | $208480.62    | 0.21%             | 2040-05-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Lithia Motors Inc                                 | Lithia Motors, Inc.                                                           | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |       450 | NS      | $131742.00    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179XX50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    239097 | PA      | $235175.91    | 0.23%             | 2053-04-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 9128286T2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    450000 | PA      | $427921.88    | 0.42%             | 2029-05-15      | Fixed         | 2.38%                 | No            | 2                  | On Loan: No      |
| America Movil SAB de CV                           | America Movil SAB de CV                                                       | CUSIP: 02364WAJ4<br>LEI: 5493000FNR3UCEAONM59 | Long             | DBT              | CORP              | MX        |    169000 | PA      | $182388.73    | 0.18%             | 2035-03-01      | Fixed         | 6.38%                 | No            | 2                  | On Loan: No      |
| BMW Vehicle Owner Trust                           | BMW Vehicle Owner Trust                                                       | CUSIP: 05602RAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8855 | PA      | $8829.61      | 0.01%             | 2026-08-25      | Fixed         | 3.21%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31335BC38<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    113220 | PA      | $98822.93     | 0.10%             | 2047-04-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Comcast Corp                                      | Comcast Corp.                                                                 | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     33849 | NS      | $1157635.80   | 1.14%             |  |  |  | No            | 1                  | On Loan: No      |
| PPG Industries Inc                                | PPG Industries, Inc.                                                          | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |      3400 | NS      | $370124.00    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                          | Warnermedia Holdings, Inc.                                                    | CUSIP: 55903VBE2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    260000 | PA      | $178747.95    | 0.18%             | 2052-03-15      | Fixed         | 5.14%                 | No            | 2                  | On Loan: No      |
| Prudential Financial Inc                          | Prudential Financial, Inc.                                                    | CUSIP: 74432QCA1<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |    313000 | PA      | $269843.13    | 0.27%             | 2044-05-15      | Fixed         | 4.60%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CFU0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $253007.81    | 0.25%             | 2027-10-31      | Fixed         | 4.12%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XQBG1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     40651 | PA      | $42252.99     | 0.04%             | 2054-06-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Ally Auto Receivables Trust                       | Ally Auto Receivables Trust                                                   | CUSIP: 02008JAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19410 | PA      | $19359.38     | 0.02%             | 2026-11-15      | Fixed         | 3.31%                 | No            | 2                  | On Loan: No      |
| PPL Corp                                          | PPL Corp.                                                                     | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     14147 | NS      | $516365.50    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WVW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     90756 | PA      | $82377.31     | 0.08%             | 2052-01-20      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Axalta Coating Systems Ltd                        | Axalta Coating Systems Ltd.                                                   | CUSIP: 000000000<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     17389 | NS      | $565142.50    | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Unilever PLC                                      | Unilever PLC                                                                  | CUSIP: 904767704<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |      4440 | NS      | $282162.00    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Medtronic PLC                                     | Medtronic PLC                                                                 | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     13848 | NS      | $1173756.48   | 1.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XNRH9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    214301 | PA      | $219358.14    | 0.22%             | 2054-01-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Truist Financial Corp                             | Truist Financial Corp.                                                        | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      5700 | NS      | $218538.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138EKFT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4870 | PA      | $4821.69      | 0.00%             | 2028-01-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Centene Corp                                      | Centene Corp.                                                                 | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |      4460 | NS      | $266931.00    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| World Omni Automobile Lease Securitization Trust  | World Omni Automobile Lease Securitization Trust                              | CUSIP: 98164PAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     60000 | PA      | $60146.24     | 0.06%             | 2028-04-17      | Fixed         | 4.42%                 | No            | 2                  | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC/Charter Communications Operating Capital | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    115000 | PA      | $98042.94     | 0.10%             | 2048-04-01      | Fixed         | 5.75%                 | No            | 2                  | On Loan: No      |
| Alphabet Inc                                      | Alphabet, Inc.                                                                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5851 | NS      | $929138.80    | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179VFS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     26789 | PA      | $25930.83     | 0.03%             | 2050-02-20      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                         | CUSIP: 91087BAQ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    250000 | PA      | $186098.46    | 0.18%             | 2041-08-14      | Fixed         | 4.28%                 | No            | 2                  | On Loan: No      |
| Phillips 66                                       | Phillips 66                                                                   | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |      5709 | NS      | $594078.54    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| CNH Industrial NV                                 | CNH Industrial NV                                                             | CUSIP: 000000000<br>LEI: 549300WGC2HZ5J67V817 | Long             | EC               | CORP              | NL        |     28080 | NS      | $324885.60    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Microchip Technology Inc                          | Microchip Technology, Inc.                                                    | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      8520 | NS      | $392601.60    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Prologis Inc                                      | Prologis, Inc.                                                                | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |      3003 | NS      | $306906.60    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31307UZN1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31891 | PA      | $31039.51     | 0.03%             | 2032-11-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                           | CUSIP: 912810SH2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $362988.28    | 0.36%             | 2049-05-15      | Fixed         | 2.88%                 | No            | 2                  | On Loan: No      |
| Zimmer Biomet Holdings Inc                        | Zimmer Biomet Holdings, Inc.                                                  | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |      2172 | NS      | $223824.60    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132E0VU3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     95875 | PA      | $91693.05     | 0.09%             | 2053-05-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133D4VC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    125459 | PA      | $116728.68    | 0.12%             | 2042-05-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Elevance Health Inc                               | Elevance Health, Inc.                                                         | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      3120 | NS      | $1312209.60   | 1.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Lennar Corp                                       | Lennar Corp.                                                                  | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |      4001 | NS      | $434548.61    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Baker Hughes Co                                   | Baker Hughes Co.                                                              | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10200 | NS      | $361080.00    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WJR0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    204604 | PA      | $174096.47    | 0.17%             | 2051-07-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Toyota Auto Receivables Owner Trust               | Toyota Auto Receivables Owner Trust                                           | CUSIP: 89239KAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6177 | PA      | $6162.68      | 0.01%             | 2026-06-15      | Fixed         | 1.23%                 | No            | 2                  | On Loan: No      |
| GSK PLC                                           | GSK PLC                                                                       | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |      4354 | NS      | $173506.90    | 0.17%             |  |  |  | No            | 1                  | On Loan: —       |
| SEMPRA                                            | Sempra                                                                        | CUSIP: 816851BS7<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96617.28     | 0.10%             | 2054-10-01      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| Anheuser-Busch InBev SA/NV                        | Anheuser-Busch InBev SA                                                       | CUSIP: 03524A108<br>LEI: 5493008H3828EMEXB082 | Long             | EC               | CORP              | BE        |      4000 | NS      | $263240.00    | 0.26%             |  |  |  | No            | 1                  | On Loan: —       |
| State Street Corp                                 | State Street Corp.                                                            | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      6176 | NS      | $544105.60    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XLTA6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    103715 | PA      | $100158.28    | 0.10%             | 2053-06-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp.                                                         | CUSIP: 06051GKC2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    335000 | PA      | $279033.86    | 0.28%             | 2036-09-21      | Fixed         | 2.48%                 | No            | 2                  | On Loan: No      |
| Compass Datacenters Issuer III, LLC               | Compass Datacenters Issuer III LLC                                            | CUSIP: 20469BAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     75000 | PA      | $74863.55     | 0.07%             | 2050-02-25      | Fixed         | 5.66%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140GXFV8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     36483 | PA      | $33396.26     | 0.03%             | 2047-09-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Western Alliance Bancorp                          | Western Alliance Bancorp                                                      | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      7375 | NS      | $514111.25    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Cummins Inc                                       | Cummins, Inc.                                                                 | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      1762 | NS      | $517746.08    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Workday Inc                                       | Workday, Inc.                                                                 | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      5290 | NS      | $1296050.00   | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132E0G97<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     65501 | PA      | $67287.10     | 0.07%             | 2053-03-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| NOV Inc                                           | NOV, Inc.                                                                     | CUSIP: 62955J103<br>LEI: 549300EHF3IW1AR6U008 | Long             | EC               | CORP              | US        |     39000 | NS      | $452790.00    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| APPLE INC                                         | Apple, Inc.                                                                   | CUSIP: 037833DP2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    300000 | PA      | $278592.45    | 0.28%             | 2029-09-11      | Fixed         | 2.20%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 312945ZL5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     26873 | PA      | $26619.80     | 0.03%             | 2041-02-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Norfolk Southern Corp                             | Norfolk Southern Corp.                                                        | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |      1000 | NS      | $224050.00    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 9128284V9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $292886.72    | 0.29%             | 2028-08-15      | Fixed         | 2.88%                 | No            | 2                  | On Loan: No      |
| Microsoft Corp                                    | Microsoft Corp.                                                               | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |       800 | NS      | $316208.00    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Magna International Inc                           | Magna International, Inc.                                                     | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |     15104 | NS      | $525015.04    | 0.52%             |  |  |  | No            | 1                  | On Loan: —       |
| Paramount Global                                  | Paramount Global                                                              | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |     13800 | NS      | $162012.00    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Vertiv Holdings Co                                | Vertiv Holdings Co.                                                           | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      7981 | NS      | $681417.78    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                           | CUSIP: 912810FF0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    217000 | PA      | $228206.01    | 0.23%             | 2028-11-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CHT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $197109.38    | 0.19%             | 2033-08-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| Aptiv PLC                                         | Aptiv PLC                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     17175 | NS      | $980005.50    | 0.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140EUFH7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     93322 | PA      | $86031.10     | 0.08%             | 2046-01-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| TRANSCANADA PIPELINES                             | TransCanada PipeLines Ltd.                                                    | CUSIP: 893526DJ9<br>LEI: 5BV01I6231JPDAPMGH09 | Long             | DBT              | CORP              | CA        |     82000 | PA      | $82500.85     | 0.08%             | 2040-06-01      | Fixed         | 6.10%                 | No            | 2                  | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                          | AerCap Ireland Capital DAC/AerCap Global Aviation Trust                       | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    150000 | PA      | $150500.69    | 0.15%             | 2055-03-10      | Fixed         | 6.95%                 | No            | 2                  | On Loan: No      |
| Bank of Nova Scotia/The                           | Bank of Nova Scotia                                                           | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | CA        |      9537 | NS      | $476659.26    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Pinnacle West Capital Corp                        | Pinnacle West Capital Corp.                                                   | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      8395 | NS      | $799036.10    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| AECOM                                             | AECOM                                                                         | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |      2763 | NS      | $272569.95    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Willis Towers Watson PLC                          | Willis Towers Watson PLC                                                      | CUSIP: 000000000<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | IE        |      1413 | NS      | $434921.40    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson Controls International plc                | Johnson Controls International PLC                                            | CUSIP: 000000000<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     10008 | NS      | $839671.20    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Entergy Corp                                      | Entergy Corp.                                                                 | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     14212 | NS      | $1182012.04   | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Fluor Corp                                        | Fluor Corp.                                                                   | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |      2300 | NS      | $80247.00     | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Cigna Group/The                                   | Cigna Group                                                                   | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |       800 | NS      | $272032.00    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QN2U5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    142004 | PA      | $128271.11    | 0.13%             | 2052-05-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WTRT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    244223 | PA      | $221160.52    | 0.22%             | 2043-06-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31416WU26<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     26159 | PA      | $25220.00     | 0.02%             | 2040-09-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Telefonaktiebolaget LM Ericsson                   | Telefonaktiebolaget LM Ericsson                                               | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |    109130 | NS      | $899231.20    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Duke Energy Progress LLC                          | Duke Energy Progress LLC                                                      | CUSIP: 26442RAD3<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     75000 | PA      | $60858.04     | 0.06%             | 2044-12-01      | Fixed         | 4.15%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XJ4T7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    244694 | PA      | $196854.62    | 0.19%             | 2052-01-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| CVS Health Corp                                   | CVS Health Corp.                                                              | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      8030 | NS      | $535681.30    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CEM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $290941.41    | 0.29%             | 2029-04-30      | Fixed         | 2.88%                 | No            | 2                  | On Loan: No      |
| SEMPRA INFRASTRUCTURE PA                          | Sempra Infrastructure Partners LP                                             | CUSIP: 81685VAA1<br>LEI: 549300L0B3MD11PUAA07 | Long             | DBT              | CORP              | US        |     65000 | PA      | $54343.41     | 0.05%             | 2032-01-15      | Fixed         | 3.25%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CLM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $196640.62    | 0.19%             | 2031-09-30      | Fixed         | 3.62%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QNE73<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    190676 | PA      | $160253.58    | 0.16%             | 2052-02-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                          | Anheuser-Busch InBev Worldwide, Inc.                                          | CUSIP: 03523TBU1<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    500000 | PA      | $505956.08    | 0.50%             | 2039-01-23      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| Public Storage                                    | Public Storage                                                                | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               |  | US        |      1823 | NS      | $547683.89    | 0.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31307EE67<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5318 | PA      | $5254.49      | 0.01%             | 2028-09-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WR26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    104617 | PA      | $89017.27     | 0.09%             | 2051-11-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140X7QF9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    141310 | PA      | $118750.80    | 0.12%             | 2050-08-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 3617VQFP6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    128985 | PA      | $115490.02    | 0.11%             | 2051-08-20      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| PACCAR Inc                                        | PACCAR, Inc.                                                                  | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      2958 | NS      | $266841.18    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Exxon Mobil Corp                                  | Exxon Mobil Corp.                                                             | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      8986 | NS      | $949191.18    | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| SEMPRA                                            | Sempra                                                                        | CUSIP: 816851BT5<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |    135000 | PA      | $123064.37    | 0.12%             | 2054-10-01      | Fixed         | 6.40%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 9128284N7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    200000 | PA      | $195671.88    | 0.19%             | 2028-05-15      | Fixed         | 2.88%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140F0JJ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     19721 | PA      | $17467.08     | 0.02%             | 2046-10-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179W2U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     58898 | PA      | $50115.32     | 0.05%             | 2052-04-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WFX84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    239126 | PA      | $220245.54    | 0.22%             | 2045-11-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Porsche Innovative Lease Owner Trust              | Porsche Innovative Lease Owner Trust                                          | CUSIP: 73328AAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    100000 | PA      | $100292.70    | 0.10%             | 2027-11-22      | Fixed         | 4.67%                 | No            | 2                  | On Loan: No      |
| PACIFICORP                                        | PacifiCorp                                                                    | CUSIP: 695114DA3<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    155000 | PA      | $140527.22    | 0.14%             | 2054-05-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| FIFTH THIRD BANK                                  | Fifth Third Bank NA                                                           | CUSIP: 31677QBR9<br>LEI: QFROUN1UWUYU0DVIWD51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $241014.77    | 0.24%             | 2027-02-01      | Fixed         | 2.25%                 | No            | 2                  | On Loan: No      |
| AMAZON.COM INC                                    | Amazon.com, Inc.                                                              | CUSIP: 023135BR6<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |    250000 | PA      | $236584.25    | 0.23%             | 2027-06-03      | Fixed         | 1.20%                 | No            | 2                  | On Loan: No      |
| SEMPRA                                            | Sempra                                                                        | CUSIP: 816851BU2<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     80000 | PA      | $75669.10     | 0.07%             | 2055-04-01      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QPJY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    264746 | PA      | $262723.77    | 0.26%             | 2052-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36225BBD9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3912 | PA      | $4013.18      | 0.00%             | 2028-12-15      | Fixed         | 7.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QLRE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    223241 | PA      | $187220.17    | 0.18%             | 2051-08-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                          | Public Service Enterprise Group, Inc.                                         | CUSIP: 744573BB1<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |     70000 | PA      | $70195.44     | 0.07%             | 2035-03-15      | Fixed         | 5.40%                 | No            | 2                  | On Loan: No      |
| Honda Auto Receivables Owner Trust                | Honda Auto Receivables Owner Trust                                            | CUSIP: 43815BAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16838 | PA      | $16764.05     | 0.02%             | 2026-05-15      | Fixed         | 1.88%                 | No            | 2                  | On Loan: No      |
| DEUTSCHE TELEKOM INT FIN                          | Deutsche Telekom International Finance BV                                     | CUSIP: 25156PAR4<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |    150000 | PA      | $135229.68    | 0.13%             | 2042-03-06      | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XBR69<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    124608 | PA      | $112741.58    | 0.11%             | 2051-06-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XRQJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    209903 | PA      | $209658.20    | 0.21%             | 2054-11-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DNFA6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    101847 | PA      | $85384.24     | 0.08%             | 2052-05-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| JPMorgan Chase & Co                               | JPMorgan Chase & Co.                                                          | CUSIP: 46625HHV5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    313000 | PA      | $315154.36    | 0.31%             | 2040-10-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| First Citizens BancShares Inc/NC                  | First Citizens BancShares, Inc.                                               | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |        75 | NS      | $133435.50    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| DTE ENERGY CO                                     | DTE Energy Co.                                                                | CUSIP: 233331BG1<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |     75000 | PA      | $74738.07     | 0.07%             | 2025-06-01      | Fixed         | 1.05%                 | No            | 2                  | On Loan: No      |
| MARKEL GROUP INC                                  | Markel Group, Inc.                                                            | CUSIP: 570535AV6<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    105000 | PA      | $79027.29     | 0.08%             | 2050-09-17      | Fixed         | 4.15%                 | No            | 2                  | On Loan: No      |
| Sanofi SA                                         | Sanofi SA                                                                     | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     14647 | NS      | $804852.65    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Bank of America Corp                              | Bank of America Corp.                                                         | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     34093 | NS      | $1359628.84   | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                       | Future                                                                        | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        10 | NC      | $55597.25     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133KYVT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    125564 | PA      | $110381.43    | 0.11%             | 2041-09-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31417TNK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27504 | PA      | $27190.55     | 0.03%             | 2040-01-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| US Bancorp                                        | U.S. Bancorp                                                                  | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     12400 | NS      | $500216.00    | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140KKYT5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167691 | PA      | $139980.10    | 0.14%             | 2050-08-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $293390.63    | 0.29%             | 2034-08-15      | Fixed         | 3.88%                 | No            | 2                  | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC             | New Economy Assets - Phase 1 Sponsor LLC                                      | CUSIP: 643821AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    125000 | PA      | $117353.43    | 0.12%             | 2061-10-20      | Fixed         | 1.91%                 | No            | 2                  | On Loan: No      |
| Entegris Inc                                      | Entegris, Inc.                                                                | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |      3104 | NS      | $245588.48    | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WFGF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24138 | PA      | $22252.08     | 0.02%             | 2045-08-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| DUKE ENERGY CORP                                  | Duke Energy Corp.                                                             | CUSIP: 26441CCF0<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     95000 | PA      | $91176.01     | 0.09%             | 2054-06-15      | Fixed         | 5.80%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36241LX84<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     68857 | PA      | $64163.58     | 0.06%             | 2041-09-15      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC/Charter Communications Operating Capital | CUSIP: 161175BA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $27924.22     | 0.03%             | 2045-10-23      | Fixed         | 6.48%                 | No            | 2                  | On Loan: No      |
| Corebridge Financial Inc                          | Corebridge Financial, Inc.                                                    | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |      9600 | NS      | $284448.00    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Labcorp Holdings Inc                              | Labcorp Holdings, Inc.                                                        | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       700 | NS      | $168707.00    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Mexico Government International Bonds             | Mexico Government International Bonds                                         | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    450000 | PA      | $255585.88    | 0.25%             | 2061-05-24      | Fixed         | 3.77%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36202D3Y5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17490 | PA      | $18057.46     | 0.02%             | 2034-02-20      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| John Deere Owner Trust                            | John Deere Owner Trust                                                        | CUSIP: 47800AAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     39991 | PA      | $39833.38     | 0.04%             | 2027-02-16      | Fixed         | 3.74%                 | No            | 2                  | On Loan: No      |
| Conagra Brands Inc                                | Conagra Brands, Inc.                                                          | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |      7500 | NS      | $185325.00    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| AmeriCredit Automobile Receivables Trust          | AmeriCredit Automobile Receivables Trust                                      | CUSIP: 03065WAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20782 | PA      | $20765.71     | 0.02%             | 2028-04-18      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| PacifiCorp                                        | PacifiCorp                                                                    | CUSIP: 695114CV8<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    125000 | PA      | $93729.89     | 0.09%             | 2050-02-15      | Fixed         | 4.15%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CGM7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $241103.52    | 0.24%             | 2033-02-15      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140X8G68<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     95341 | PA      | $83621.28     | 0.08%             | 2050-10-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| BorgWarner Inc                                    | BorgWarner, Inc.                                                              | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |      4900 | NS      | $139062.00    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy, Inc.                                                         | CUSIP: 25746UDV8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    175000 | PA      | $172065.11    | 0.17%             | 2055-05-15      | Fixed         | 6.62%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DTWF3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     99795 | PA      | $101795.22    | 0.10%             | 2054-08-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Jacobs Solutions Inc                              | Jacobs Solutions, Inc.                                                        | CUSIP: 46982L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1914 | NS      | $236953.20    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179VKK5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    130637 | PA      | $111527.22    | 0.11%             | 2050-04-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| PACIFICORP                                        | PacifiCorp                                                                    | CUSIP: 695114CZ9<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |     95000 | PA      | $84485.69     | 0.08%             | 2053-12-01      | Fixed         | 5.35%                 | No            | 2                  | On Loan: No      |
| FedEx Corp                                        | FedEx Corp.                                                                   | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      2530 | NS      | $532134.90    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| BERKSHIRE HATHAWAY FIN                            | Berkshire Hathaway Finance Corp.                                              | CUSIP: 084664CZ2<br>LEI: 549300RLHFT5RU20WM87 | Long             | DBT              | CORP              | US        |    300000 | PA      | $291327.38    | 0.29%             | 2027-03-15      | Fixed         | 2.30%                 | No            | 2                  | On Loan: No      |
| Murphy Oil Corp                                   | Murphy Oil Corp.                                                              | CUSIP: 626717102<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | EC               | CORP              | US        |      3500 | NS      | $71855.00     | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140JXKV9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3091 | PA      | $2967.72      | 0.00%             | 2034-10-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| BP CAPITAL MARKETS PLC                            | BP Capital Markets PLC                                                        | CUSIP: 05565QDW5<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    150000 | PA      | $149212.47    | 0.15%             | 2033-12-01      | Fixed         | 6.45%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WFCF1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     53574 | PA      | $50841.07     | 0.05%             | 2045-07-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Bank of America Corp                              | Bank of America Corp.                                                         | CUSIP: 59022CAJ2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    176000 | PA      | $181480.67    | 0.18%             | 2037-01-29      | Fixed         | 6.11%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140Q8WZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10343 | PA      | $10008.01     | 0.01%             | 2048-04-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| COX COMMUNICATIONS INC                            | Cox Communications, Inc.                                                      | CUSIP: 224044CU9<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    145000 | PA      | $142208.67    | 0.14%             | 2034-09-01      | Fixed         | 5.45%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31335BXV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    103175 | PA      | $91339.50     | 0.09%             | 2048-08-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| SEMPRA                                            | Sempra                                                                        | CUSIP: 816851BV0<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |     45000 | PA      | $41157.47     | 0.04%             | 2055-04-01      | Fixed         | 6.55%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XAWD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    109910 | PA      | $88544.53     | 0.09%             | 2051-04-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge, Inc.                                                                | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    115000 | PA      | $114302.81    | 0.11%             | 2054-06-27      | Fixed         | 7.20%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133KKVK2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     63888 | PA      | $53551.98     | 0.05%             | 2050-12-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| GE HealthCare Technologies Inc                    | GE HealthCare Technologies, Inc.                                              | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      8387 | NS      | $589857.71    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| VERIZON COMMUNICATIONS                            | Verizon Communications, Inc.                                                  | CUSIP: 92343VGY4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    181000 | PA      | $175639.14    | 0.17%             | 2035-02-15      | Fixed         | 4.78%                 | No            | 2                  | On Loan: No      |
| AMER AIRLINE 19-1AA PTT                           | American Airlines Pass-Through Trust                                          | CUSIP: 02377LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61940 | PA      | $56407.10     | 0.06%             | 2032-02-15      | Fixed         | 3.15%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140A3H22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    192826 | PA      | $192327.74    | 0.19%             | 2053-10-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 3620A9P96<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     34375 | PA      | $34678.55     | 0.03%             | 2039-10-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Wynn Resorts Ltd                                  | Wynn Resorts Ltd.                                                             | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |      5532 | NS      | $444274.92    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Goldman Sachs Group Inc/The                       | Goldman Sachs Group, Inc.                                                     | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       297 | NS      | $162622.35    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Duke Energy Progress LLC                          | Duke Energy Progress LLC                                                      | CUSIP: 26442UAB0<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     30000 | PA      | $24444.69     | 0.02%             | 2045-08-15      | Fixed         | 4.20%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                           | CUSIP: 912810PT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    304000 | PA      | $318511.25    | 0.31%             | 2037-02-15      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| FEDERAL FARM CREDIT BANK                          | Federal Farm Credit Banks Funding Corp.                                       | CUSIP: 3133ENV64<br>LEI: 254900C5LP6DN9OP9V83 | Long             | DBT              | USGSE             | US        |    250000 | PA      | $255346.91    | 0.25%             | 2029-10-24      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138A4XY6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     52062 | PA      | $50170.39     | 0.05%             | 2041-01-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WLC27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12436 | PA      | $12077.34     | 0.01%             | 2047-07-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Fidelity National Information Services Inc        | Fidelity National Information Services, Inc.                                  | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     17504 | NS      | $1380715.52   | 1.36%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CEF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    250000 | PA      | $244775.39    | 0.24%             | 2027-03-31      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| BERKSHIRE HATHAWAY ENERG                          | Berkshire Hathaway Energy Co.                                                 | CUSIP: 59562VAM9<br>LEI: 549300JD0S5IZJE9LY15 | Long             | DBT              | CORP              | US        |    235000 | PA      | $247409.20    | 0.24%             | 2036-04-01      | Fixed         | 6.12%                 | No            | 2                  | On Loan: No      |
| TACO BELL FUNDING, LLC                            | Taco Bell Funding LLC                                                         | CUSIP: 87342RAH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     98250 | PA      | $89074.31     | 0.09%             | 2051-08-25      | Fixed         | 2.29%                 | No            | 2                  | On Loan: No      |
| APA Corp                                          | APA Corp.                                                                     | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |     40514 | NS      | $629587.56    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Deere & Co                                        | Deere & Co.                                                                   | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       320 | NS      | $148339.20    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XAH47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    148556 | PA      | $119591.26    | 0.12%             | 2051-03-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| CON EDISON CO OF NY INC                           | Consolidated Edison Co. of New York, Inc.                                     | CUSIP: 209111EY5<br>LEI: VZFZPMWDHTQCFKYOBP05 | Long             | DBT              | CORP              | US        |    169000 | PA      | $168450.54    | 0.17%             | 2039-12-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 912828YB0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $321835.94    | 0.32%             | 2029-08-15      | Fixed         | 1.62%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179VDS6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     28380 | PA      | $28201.04     | 0.03%             | 2050-01-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| F5 Inc                                            | F5, Inc.                                                                      | CUSIP: 315616102<br>LEI: 54930015FPK9KT966303 | Long             | EC               | CORP              | US        |      5470 | NS      | $1448127.80   | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| DUKE ENERGY CAROLINAS                             | Duke Energy Carolinas LLC                                                     | CUSIP: 26442CAE4<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    115000 | PA      | $121124.16    | 0.12%             | 2038-04-15      | Fixed         | 6.05%                 | No            | 2                  | On Loan: No      |
| ENTERGY CORP                                      | Entergy Corp.                                                                 | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |     45000 | PA      | $45244.58     | 0.04%             | 2054-12-01      | Fixed         | 7.12%                 | No            | 2                  | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                          | Charter Communications Operating LLC/Charter Communications Operating Capital | CUSIP: 161175CR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $92694.17     | 0.09%             | 2034-06-01      | Fixed         | 6.55%                 | No            | 2                  | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                             | Foundry JV Holdco LLC                                                         | CUSIP: 350930AK9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |    200000 | PA      | $207133.37    | 0.20%             | 2039-01-25      | Fixed         | 6.30%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WK2E4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     69462 | PA      | $67206.08     | 0.07%             | 2037-06-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XDZ74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     75914 | PA      | $65891.68     | 0.07%             | 2051-11-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Oracle Corp                                       | Oracle Corp.                                                                  | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      4233 | NS      | $595667.76    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| RTX Corp                                          | RTX Corp.                                                                     | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2300 | NS      | $290099.00    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179VFT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     14525 | PA      | $14457.48     | 0.01%             | 2050-02-20      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                           | Bristol-Myers Squibb Co.                                                      | CUSIP: 110122CP1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |    560000 | PA      | $541168.72    | 0.53%             | 2029-07-26      | Fixed         | 3.40%                 | No            | 2                  | On Loan: No      |
| Boeing Co/The                                     | Boeing Co.                                                                    | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      1830 | NS      | $335329.20    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XJMV2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    108539 | PA      | $94923.18     | 0.09%             | 2052-07-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133L7SJ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     52824 | PA      | $49294.38     | 0.05%             | 2035-06-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31292HX33<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     12016 | PA      | $12192.47     | 0.01%             | 2033-08-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Solventum Corp                                    | Solventum Corp.                                                               | CUSIP: 83444M101<br>LEI: 254900I70403OSGY4M28 | Long             | EC               | CORP              | US        |      2100 | NS      | $138852.00    | 0.14%             |  |  |  | No            | 1                  | On Loan: No      |
| CATERPILLAR FINL SERVICE                          | Caterpillar Financial Services Corp.                                          | CUSIP: 14913UAQ3<br>LEI: EDBQKYOPJUCJKLOJDE72 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200722.43    | 0.20%             | 2029-08-16      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| GM Financial Securitized Term Auto Receivables Tr | GM Financial Consumer Automobile Receivables Trust                            | CUSIP: 362955AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     90000 | PA      | $90885.47     | 0.09%             | 2029-12-17      | Fixed         | 4.62%                 | No            | 2                  | On Loan: No      |
| NVIDIA CORP                                       | NVIDIA Corp.                                                                  | CUSIP: 67066GAM6<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |    500000 | PA      | $465147.48    | 0.46%             | 2028-06-15      | Fixed         | 1.55%                 | No            | 2                  | On Loan: No      |
| VICI Properties Inc                               | VICI Properties, Inc.                                                         | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |     21844 | NS      | $699444.88    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140MQB65<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    164782 | PA      | $154166.23    | 0.15%             | 2052-06-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CKQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    120000 | PA      | $122085.94    | 0.12%             | 2034-05-15      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179YAS3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    190928 | PA      | $191210.76    | 0.19%             | 2053-07-20      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| TE Connectivity PLC                               | TE Connectivity PLC                                                           | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |      2008 | NS      | $293931.04    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| COX COMMUNICATIONS INC                            | Cox Communications, Inc.                                                      | CUSIP: 224044CV7<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |    265000 | PA      | $242147.84    | 0.24%             | 2054-09-01      | Fixed         | 5.95%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XHAH0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    106838 | PA      | $97227.29     | 0.10%             | 2051-07-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| Citigroup Inc                                     | Citigroup, Inc.                                                               | CUSIP: 172967FX4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    145000 | PA      | $147029.97    | 0.15%             | 2042-01-30      | Fixed         | 5.88%                 | No            | 2                  | On Loan: No      |
| JB Hunt Transport Services Inc                    | JB Hunt Transport Services, Inc.                                              | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |      2612 | NS      | $341074.96    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Citizens Financial Group Inc                      | Citizens Financial Group, Inc.                                                | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     10168 | NS      | $375097.52    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WJGH5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    115694 | PA      | $103183.13    | 0.10%             | 2046-11-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WG6G4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24400 | PA      | $22417.72     | 0.02%             | 2046-05-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 912828U24<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $487089.85    | 0.48%             | 2026-11-15      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179TQQ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     61474 | PA      | $57726.79     | 0.06%             | 2048-01-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QEWM0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    100419 | PA      | $84142.99     | 0.08%             | 2050-09-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31415MM28<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3022 | PA      | $3081.65      | 0.00%             | 2038-06-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Bank of New York Mellon Corp/The                  | Bank of New York Mellon Corp.                                                 | CUSIP: 064058100<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EC               | CORP              | US        |      1915 | NS      | $153985.15    | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Carnival Corp                                     | Carnival Corp.                                                                | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | PA        |     54172 | NS      | $993514.48    | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| OVINTIV INC                                       | Ovintiv, Inc.                                                                 | CUSIP: 292505AG9<br>LEI: 2549003MEX7YMKLGI239 | Long             | DBT              | CORP              | US        |    105000 | PA      | $101911.05    | 0.10%             | 2038-02-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31418UVX9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     31273 | PA      | $31504.57     | 0.03%             | 2040-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| QUALCOMM Inc                                      | QUALCOMM, Inc.                                                                | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      5194 | NS      | $771101.24    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Saudi Arabian Oil Co                              | Saudi Arabian Oil Co.                                                         | CUSIP: 80414L2F1<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |    500000 | PA      | $394397.50    | 0.39%             | 2049-04-16      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DSYU0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    140547 | PA      | $143961.51    | 0.14%             | 2054-04-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| Porsche Financial Auto Securitization Trust       | Porsche Financial Auto Securitization Trust                                   | CUSIP: 73328EAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    165000 | PA      | $165645.43    | 0.16%             | 2030-01-22      | Fixed         | 4.44%                 | No            | 2                  | On Loan: No      |
| STATE OF ISRAEL                                   | Israel Government International Bonds                                         | CUSIP: 46514BRL3<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |    200000 | PA      | $198220.00    | 0.20%             | 2034-03-12      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| HCA Healthcare Inc                                | HCA Healthcare, Inc.                                                          | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |      1040 | NS      | $358883.20    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| EIDP INC                                          | EIDP, Inc.                                                                    | CUSIP: 263534CN7<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54647.34     | 0.05%             | 2025-07-15      | Fixed         | 1.70%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179TEZ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     13408 | PA      | $12301.11     | 0.01%             | 2047-08-20      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| APPLE INC                                         | Apple, Inc.                                                                   | CUSIP: 037833EH9<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    200000 | PA      | $184777.03    | 0.18%             | 2028-08-05      | Fixed         | 1.40%                 | No            | 2                  | On Loan: No      |
| Avantor Inc                                       | Avantor, Inc.                                                                 | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36807 | NS      | $478122.93    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XJQM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    163151 | PA      | $156584.92    | 0.15%             | 2052-10-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Hartford Insurance Group Inc/The                  | Hartford Insurance Group, Inc.                                                | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      2740 | NS      | $336115.80    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Electronic Arts Inc                               | Electronic Arts, Inc.                                                         | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      2766 | NS      | $401318.94    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| John Deere Owner Trust                            | John Deere Owner Trust                                                        | CUSIP: 47787JAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15577 | PA      | $15505.31     | 0.02%             | 2026-09-15      | Fixed         | 2.32%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138X3EJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    222204 | PA      | $200807.65    | 0.20%             | 2043-08-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Humana Inc                                        | Humana, Inc.                                                                  | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1410 | NS      | $369758.40    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DSUR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    200472 | PA      | $196384.37    | 0.19%             | 2053-08-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140X8YA9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     48677 | PA      | $44463.67     | 0.04%             | 2035-12-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| JPMORGAN CHASE & CO                               | JPMorgan Chase & Co.                                                          | CUSIP: 48128AAJ2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120343.52    | 0.12%             | 2030-04-01      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179WG36<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    130554 | PA      | $111112.94    | 0.11%             | 2051-06-20      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Fortive Corp                                      | Fortive Corp.                                                                 | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |      4331 | NS      | $301827.39    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140Q9H97<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     35373 | PA      | $34382.49     | 0.03%             | 2048-07-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Ovintiv Inc                                       | Ovintiv, Inc.                                                                 | CUSIP: 69047Q102<br>LEI: 2549003MEX7YMKLGI239 | Long             | EC               | CORP              | US        |     10300 | NS      | $345874.00    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| MERCEDES-BENZ FIN NA                              | Mercedes-Benz Finance North America LLC                                       | CUSIP: 58769JAC1<br>LEI: 549300423Z16BB673J12 | Long             | DBT              | CORP              | US        |    350000 | PA      | $355630.39    | 0.35%             | 2027-11-29      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XKES5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    238593 | PA      | $190779.97    | 0.19%             | 2051-07-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DSNS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    302014 | PA      | $302317.74    | 0.30%             | 2054-02-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Reynolds American Inc                             | Reynolds American, Inc.                                                       | CUSIP: 761713BA3<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    175000 | PA      | $175877.41    | 0.17%             | 2035-08-15      | Fixed         | 5.70%                 | No            | 2                  | On Loan: No      |
| Comcast Corp                                      | Comcast Corp.                                                                 | CUSIP: 20030NAY7<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |    217000 | PA      | $238615.99    | 0.24%             | 2039-07-01      | Fixed         | 6.55%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QB2E7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     70054 | PA      | $67746.24     | 0.07%             | 2049-10-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                          | Occidental Petroleum Corp.                                                    | CUSIP: 674599EL5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    105000 | PA      | $98175.78     | 0.10%             | 2034-10-01      | Fixed         | 5.55%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31418CNT7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22106 | PA      | $21491.96     | 0.02%             | 2047-08-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3138WJ5H7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     27673 | PA      | $25390.73     | 0.03%             | 2047-03-01      | Fixed         | 3.50%                 | No            | 2                  | On Loan: No      |
| CSX Corp                                          | CSX Corp.                                                                     | CUSIP: 126408GU1<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |    157000 | PA      | $154921.30    | 0.15%             | 2041-04-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31402CV74<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     13176 | PA      | $13342.49     | 0.01%             | 2034-03-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31418D6M9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    100785 | PA      | $88598.52     | 0.09%             | 2041-11-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 31418ELX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    121352 | PA      | $119109.61    | 0.12%             | 2052-12-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140QEL34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     88057 | PA      | $77108.33     | 0.08%             | 2050-08-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XKQ52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     81949 | PA      | $80940.03     | 0.08%             | 2053-04-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| DOMINION ENERGY INC                               | Dominion Energy, Inc.                                                         | CUSIP: 25746UDT3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |    115000 | PA      | $118413.75    | 0.12%             | 2055-02-01      | Fixed         | 6.88%                 | No            | 2                  | On Loan: No      |
| Toyota Auto Loan Extended Note Trust 2020-1       | Toyota Auto Loan Extended Note Trust                                          | CUSIP: 89237JAA4<br>LEI: 549300XP7ILZSI1BWP36 | Long             | ABS-O            | CORP              | US        |    135000 | PA      | $134679.63    | 0.13%             | 2033-05-25      | Fixed         | 1.35%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DT5V8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    155019 | PA      | $152308.04    | 0.15%             | 2054-09-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Government National Mortgage Association          | Government National Mortgage Association                                      | CUSIP: 36179XFH4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    123657 | PA      | $118826.04    | 0.12%             | 2052-09-20      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Kraft Heinz Co/The                                | Kraft Heinz Co.                                                               | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     19300 | NS      | $561630.00    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| AT&T INC                                          | AT&T, Inc.                                                                    | CUSIP: 00206RLV2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     95000 | PA      | $62855.00     | 0.06%             | 2059-09-15      | Fixed         | 3.65%                 | No            | 2                  | On Loan: No      |
| American Beacon U.S. Government Money Market      | American Beacon U.S. Government Money Market                                  | CUSIP: 02368W200<br>LEI: 549300EXCES9V5RWB620 | Long             | STIV             | RF                | US        |   2609616 | NS      | $2609615.51   | 2.58%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 912828ZT0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2130000 | PA      | $2122483.98   | 2.10%             | 2025-05-31      | Fixed         | 0.25%                 | No            | 2                  | On Loan: No      |
| Las Vegas Sands Corp                              | Las Vegas Sands Corp.                                                         | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     14186 | NS      | $520200.62    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140XBFT2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    106249 | PA      | $93130.12     | 0.09%             | 2051-05-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Bonds                                                           | CUSIP: 912810QC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    241000 | PA      | $241621.33    | 0.24%             | 2039-08-15      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| ONEOK Partners LP                                 | ONEOK Partners LP                                                             | CUSIP: 68268NAD5<br>LEI: T4DHW82NMF6BXJT50795 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47525.48     | 0.05%             | 2037-10-15      | Fixed         | 6.85%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    206084 | PA      | $163476.40    | 0.16%             | 2052-03-01      | Fixed         | 2.00%                 | No            | 2                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140X8EL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     46944 | PA      | $39262.54     | 0.04%             | 2050-10-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Keurig Dr Pepper Inc                              | Keurig Dr. Pepper, Inc.                                                       | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     31997 | NS      | $1106776.23   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Merck & Co Inc                                    | Merck & Co., Inc.                                                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      7846 | NS      | $668479.20    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| DUKE ENERGY CAROLINAS                             | Duke Energy Carolinas LLC                                                     | CUSIP: 26442CAB0<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |     40000 | PA      | $42132.22     | 0.04%             | 2038-01-15      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| American Beacon U.S. Government Money Market      | American Beacon U.S. Government Money Market                                  | CUSIP: 02368W200<br>LEI: 549300EXCES9V5RWB620 | Long             | STIV             | RF                | US        |    283511 | NS      | $283511.25    | 0.28%             |  |  |  | No            | N/A                | On Loan: No      |
| CRH PLC                                           | CRH PLC                                                                       | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      9461 | NS      | $902768.62    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Walmart Inc                                       | Walmart, Inc.                                                                 | CUSIP: 931142BF9<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    169000 | PA      | $194418.26    | 0.19%             | 2030-02-15      | Fixed         | 7.55%                 | No            | 2                  | On Loan: No      |
| ENBRIDGE INC                                      | Enbridge, Inc.                                                                | CUSIP: 29250NCG8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |    290000 | PA      | $292007.96    | 0.29%             | 2055-03-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| NRTH PARK Mortgage Trust                          | NRTH Mortgage Trust                                                           | CUSIP: 67021HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $99281.25     | 0.10%             | 2039-03-15      | Floating      | 5.96%                 | No            | 2                  | On Loan: No      |
| Cenovus Energy Inc                                | Cenovus Energy, Inc.                                                          | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |     10600 | NS      | $124762.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140X4NY8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     24400 | PA      | $23752.78     | 0.02%             | 2048-07-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| Halliburton Co                                    | Halliburton Co.                                                               | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     25739 | NS      | $510146.98    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| PNC FINANCIAL SERVICES                            | PNC Financial Services Group, Inc.                                            | CUSIP: 693475AZ8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    500000 | PA      | $456048.24    | 0.45%             | 2030-01-22      | Fixed         | 2.55%                 | No            | 2                  | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                            | Fairfax Financial Holdings Ltd.                                               | CUSIP: 303901BR2<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    140000 | PA      | $140294.83    | 0.14%             | 2054-03-22      | Fixed         | 6.35%                 | No            | 2                  | On Loan: No      |
| Honda Auto Receivables Owner Trust                | Honda Auto Receivables Owner Trust                                            | CUSIP: 43814VAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     85000 | PA      | $85809.79     | 0.08%             | 2029-09-21      | Fixed         | 4.57%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $297234.38    | 0.29%             | 2034-02-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury                            | U.S. Treasury Notes                                                           | CUSIP: 91282CMK4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    150000 | PA      | $153738.28    | 0.15%             | 2032-01-31      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| American Express Co                               | American Express Co.                                                          | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      1984 | NS      | $528557.44    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| BANK OF AMERICA CORP                              | Bank of America Corp.                                                         | CUSIP: 06051GJS9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    350000 | PA      | $338288.42    | 0.33%             | 2027-07-22      | Fixed         | 1.73%                 | No            | 2                  | On Loan: No      |
| CNH Equipment Trust                               | CNH Equipment Trust                                                           | CUSIP: 18978JAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     24913 | PA      | $24968.16     | 0.02%             | 2027-10-15      | Fixed         | 5.42%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 3133KJJP8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     69594 | PA      | $58272.72     | 0.06%             | 2050-07-01      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| Capital One Financial Corp                        | Capital One Financial Corp.                                                   | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      1390 | NS      | $250561.40    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| American International Group Inc                  | American International Group, Inc.                                            | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |     16323 | NS      | $1330650.96   | 1.31%             |  |  |  | No            | 1                  | On Loan: No      |
| WPP PLC                                           | WPP PLC                                                                       | CUSIP: 92937A102<br>LEI: 549300LSGBXPYHXGDT93 | Long             | EC               | CORP              | JE        |      9600 | NS      | $370176.00    | 0.37%             |  |  |  | No            | 1                  | On Loan: —       |
| Fannie Mae                                        | Federal National Mortgage Association                                         | CUSIP: 3140FQT23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     52651 | PA      | $50029.82     | 0.05%             | 2046-07-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| Freddie Mac                                       | Federal Home Loan Mortgage Corp.                                              | CUSIP: 31292H6X7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11750 | PA      | $12057.97     | 0.01%             | 2034-02-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Timken Co/The                                     | Timken Co.                                                                    | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |      1900 | NS      | $122075.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| ConocoPhillips                                    | ConocoPhillips                                                                | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      2536 | NS      | $226008.32    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Whirlpool Corp                                    | Whirlpool Corp.                                                               | CUSIP: 96332HCG2<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |    125000 | PA      | $97963.36     | 0.10%             | 2043-03-01      | Fixed         | 5.15%                 | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2025-05-19

**Name of Applicant:** AMERICAN BEACON FUNDS

**Signature:** Sonia Bates

**Name of Signer:** Sonia Bates

**Title:** Treasurer