# EDGAR Filing Document

**Accession Number:** 0000872323
**File Stem:** 0001104659-26-006202
**Filing Date:** 2026-1
**Character Count:** 82229
**Document Hash:** 66abf868bc7f2ecdc6a30b45a5a61ca8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-006202.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0001104659-26-006202

**CONFORMED SUBMISSION TYPE**: 40-17G

**PUBLIC DOCUMENT COUNT**: 6

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**EFFECTIVENESS DATE**: 20260123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HARRIS ASSOCIATES INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000872323

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 40-17G
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06279
- **FILM NUMBER:** 26555903

**BUSINESS ADDRESS:**
- **STREET 1:** HARRIS ASSOCIATES LP
- **STREET 2:** 111 S. WACKER DRIVE, SUITE 4600
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 8004769625

**MAIL ADDRESS:**
- **STREET 1:** HARRIS ASSOCIATES LP
- **STREET 2:** 111 S. WACKER DRIVE, SUITE 4600
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Harris Oakmark ETF Trust
- **CENTRAL INDEX KEY:** 0002035827

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 40-17G
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23998
- **FILM NUMBER:** 26555904

**BUSINESS ADDRESS:**
- **STREET 1:** 111 SOUTH WACKER DRIVE
- **STREET 2:** SUITE 4600
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3126463600

**MAIL ADDRESS:**
- **STREET 1:** 111 SOUTH WACKER DRIVE
- **STREET 2:** SUITE 4600
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

PREMIUM BILL <br>Date: January 16, 2026

---

| | |
|:---|:---|
| Insured: | HARRIS ASSOCIATES INVESTMENT TRUST |
| Producer: | MARSH USA LLC<br> 1166 AVENUE OF THE AMERICAS<br> NEW YORK, NY 10036 |
| Company: | Federal Insurance Company |

---

THIS BILLING IS TO BE ATTACHED TO AND FORM A PART OF THE POLICY REFERENCED BELOW.

Policy Number: J06102748

Policy Period: 12-15-2025 to 12-15-2026

NOTE: PLEASE RETURN THIS BILL WITH REMITTANCE AND NOTE HEREON ANY CHANGES. BILL WILL BE RECEIPTED AND RETURNED TO YOU PROMPTLY UPON REQUEST.

PLEASE REMIT TO PRODUCER INDICATED ABOVE. PLEASE REFER TO J06102748

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Product** | &nbsp;&nbsp;**Effective Date** | &nbsp;&nbsp;**Premium** |
| &nbsp;&nbsp;Financial Institution Bond for Investment Companies | &nbsp;&nbsp;12-15-2025 | &nbsp;&nbsp;$36226.00 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**TOTAL POLICY PREMIUM** | &nbsp;&nbsp;$36226.00 |

---

WHEN REMITTING PLEASE INDICATE POLICY OR CERTIFICATE NUMBER

Form 26-10-0426 (Ed. 2/98)

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| | |
|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

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| | |
|:---|:---|
| **DECLARATIONS** | **FEDERAL INSURANCE COMPANY** |
| Name of **Assured**: | Incorporated under the laws of Indiana, a stock insurance company, herein called the Company |
| HARRIS ASSOCIATES INVESTMENT TRUST |  |
|  | One American Square 202 N Illinois Street, |
| Address of **Assured**: | Suite 2600 |
| 111 SOUTH WACKER DRIVE, SUITE 4600 | Indianapolis, IN 46282 |
| CHICAGO, IL 60606 | Bond Number: J06102748 |

---

---

| | | | |
|:---|:---|:---|:---|
| Item 1. | Bond Period: | From: | December 15, 2025 |
|  |  | To: | December 15, 2026 |
|  |  | At 12:01 A.M. local time at the Address of **Assured**. | At 12:01 A.M. local time at the Address of **Assured**. |
| Item 2. | Single Loss Limits Of Liability – Deductible Amounts: | Single Loss Limits Of Liability – Deductible Amounts: | Single Loss Limits Of Liability – Deductible Amounts: |

---

---

| | | | |
|:---|:---|:---|:---|
| **Insuring Clause** | **Insuring Clause** | **Single Loss Limit Of** <br> **Liability** | **Deductible Amount** |
| 1. | Employee | $16475000 | $50000 |
| 2. | On Premises | $16475000 | $50000 |
| 3. | In Transit | $16475000 | $50000 |
| 4. | Forgery Or Alteration | $16475000 | $50000 |
| 5. | Extended Forgery | $16475000 | $50000 |
| 6. | Counterfeit Money | $16475000 | $50000 |
| 7. | Computer System Fraud | $16475000 | $50000 |
| 8. | Claims Expense | Not Covered | Not Covered |
| 9. | Audit Expense | $250000 | $50000 |
| 10. | Uncollectible Items Of Deposit | $100000 | $50000 |
| 11. | Voice Initiated Funds Transfer Instruction | $16475000 | $50000 |

---

PF-52903D (08/21) Page 1 of 2

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|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

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| |
|:---|
| IN WITNESS WHEREOF, the Company has caused this Bond to be signed by its Authorized Officers, but it shall not be valid unless also signed by a duly authorized representative of the Company. |
| **FEDERAL INSURANCE COMPANY** |

---

---

| | |
|:---|:---|
| ![](tm261914d1_4017gimg002.jpg) | ![](tm261914d1_4017gimg003.jpg) |
| Secretary | President |
| January 16, 2026 | ![](tm261914d1_4017gimg005.jpg) |
| Date | Authorized Representative |

---

PF-52903D (08/21) Page 2 of 2

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| | |
|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

The Company, in consideration of the premium paid, and in reliance on the Application and all other statements made and information furnished to the Company by the **Assured**, and subject to the Declarations made part of this Bond and to all other terms, conditions, and limitations of this Bond, agrees to pay the **Assured** for:

------

**I.** **INSURING CLAUSES** 

&nbsp;&nbsp;&nbsp;&nbsp;1. Employee

Loss resulting directly from **Larceny or Embezzlement** committed by any **Employee** acting alone or in collusion with others.

&nbsp;&nbsp;&nbsp;&nbsp;2. On Premises

Loss of **Property** resulting directly from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. robbery, burglary, misplacement, mysterious unexplainable disappearance,
damage or destruction; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. false pretenses, or common law or statutory larceny, committed
by a natural person while on the premises of the **Assured**,

while the **Property** is lodged or deposited at premises located anywhere.

For the purpose of coverage under this Insuring Clause 2, the premises of securities depositories shall be deemed to be premises of the **Assured**, but only with respect to the loss of **Certificated Securities**. **Certificated Securities** held by such depositories shall be deemed to be **Property**, but only to the extent of the **Assured's** interest therein as detailed in the books and records of such depositories.

&nbsp;&nbsp;&nbsp;&nbsp;3. In Transit

Loss of **Property** resulting directly from common law or statutory larceny, misplacement, mysterious unexplainable disappearance, damage or destruction, while the **Property** is in transit anywhere in:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. an armored motor vehicle, including loading and unloading thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. the custody of a natural person acting as a messenger of the **Assured**;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. the custody of a **Transportation Company** and
being transported in a conveyance other than an armored motor vehicle, provided that covered **Property** transported in
such manner is limited to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **Written** records;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **Certificated Securities** issued in registered form,
which are not endorsed or are restrictively endorsed; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) **Negotiable Instruments** not payable to bearer, which
are not endorsed or are restrictively endorsed.

Coverage under this Insuring Clause 3 begins immediately on the receipt of such **Property** by the armored motor vehicle, natural person messenger, or **Transportation Company** and ends immediately on delivery to the premises of the addressee or to any representative of the addressee located anywhere.

&nbsp;&nbsp;&nbsp;&nbsp;4. Forgery Or Alteration

Loss resulting directly from the **Assured** having, in good faith:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. transferred, paid, or delivered any **Property**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. established any credit or given any value,

PF-52903 (08/21) Page 1 of 17

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|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

in reliance on any **Written** and **Original**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **Negotiable Instrument** (other than an **Evidence of Debt)**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **Acceptance**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) **Withdrawal Order** or receipt for the withdrawal of **Property**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) **Certificate of Deposit**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) **Letter of Credit**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) instruction or advice directed to the **Assured** and
purportedly signed by any **Customer**, any financial institution, or any **Employee**,

which

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. bears a **Forgery**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. is fraudulently materially altered.

For the purpose of this Insuring Clause 4, a reproduction of a handwritten signature is treated the same as the handwritten signature. An electronic or digital signature is not treated as a reproduction of a handwritten signature.

&nbsp;&nbsp;&nbsp;&nbsp;5. Extended Forgery

Loss resulting directly from the **Assured** having, in good faith, for its own account or the account of others:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. acquired, sold or delivered, given value, extended credit or
assumed liability in reliance on any **Written** and **Original**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **Certificated Security**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) deed, mortgage or other instrument conveying title to, or creating
or discharging a lien on, real property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) **Evidence of Debt**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) **Instruction**,

which

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. bears a **Forgery**, but only to the extent the **Forgery** directly
causes the loss;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. is fraudulently materially altered, but only to the extent the
alteration directly causes the loss; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. is lost or stolen;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. guaranteed in writing or witnessed any signature on any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) assignment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) bill of sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) power of attorney; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) endorsement upon any item listed in a.(1) through a.(4) above,

but only to the extent that such guarantee or signature directly causes the loss; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. acquired, sold or delivered, or given value, extended credit
or assumed liability in reliance on any item listed in a.(1) or a.(2) above which is a **Counterfeit Original**, but only to the
extent the **Counterfeit Original** directly causes the loss.

PF-52903 (08/21) Page 2 of 17

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|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

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Actual physical possession, and continued actual physical possession if taken as collateral, of the items listed in a.(1) through a.(4) above by an **Employee**, **Custodian**, or a federal or state chartered deposit institution of the **Assured** is a condition precedent to the **Assured** having relied on such items. Release or return of such collateral is an acknowledgment by the **Assured** that it no longer relies on such collateral.

&nbsp;&nbsp;&nbsp;&nbsp;For the purpose of this Insuring Clause 5, a reproduction of a handwritten signature is treated the same as the handwritten signature. An electronic or digital signature is not treated as a reproduction of a handwritten signature.

&nbsp;&nbsp;&nbsp;&nbsp;6. Counterfeit Money

Loss resulting directly from the receipt by the **Assured** in good faith of counterfeit **Money**.

&nbsp;&nbsp;&nbsp;&nbsp;7. Computer System Fraud

Loss resulting directly from the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. withdrawal, transfer, payment, or delivery of **Property**;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. creation, deletion, debiting, or crediting of an account of
the **Assured** or **Customer**,

which results directly from a **Network Intrusion**.

&nbsp;&nbsp;&nbsp;&nbsp;8. Claims Expense

&nbsp;&nbsp;&nbsp;&nbsp;**Claims Expenses** incurred by the **Assured** in determining the amount of covered loss under this Bond in excess of the applicable Deductible Amount.

&nbsp;&nbsp;&nbsp;&nbsp;9. Audit Expense

&nbsp;&nbsp;&nbsp;&nbsp;**Audit Expenses** incurred by the **Assured** by reason of the discovery of loss covered under Insuring Clause 1.

&nbsp;&nbsp;&nbsp;&nbsp;10. Uncollectible Items Of Deposit

&nbsp;&nbsp;&nbsp;&nbsp;Loss resulting directly from the **Assured** having credited an account of a customer, shareholder, or subscriber on the faith of any **Items of Deposit** which prove to be uncollectible, provided that the crediting of such account causes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. redemptions or withdrawals to be permitted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. shares to be issued; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. dividends to be paid,

from an account of an **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;As a condition precedent to coverage under this Insuring Clause 10, the **Assured** must hold **Items of Deposit** for the minimum number of days stated in the Application before permitting any redemptions or withdrawals, issuing any shares, or paying any dividends with respect to such **Items of Deposit**.

&nbsp;&nbsp;&nbsp;&nbsp;**Items of Deposit** shall not be deemed uncollectible until the **Assured's** standard collection procedures have failed.

&nbsp;&nbsp;&nbsp;&nbsp;11. Voice Initiated Funds Transfer Instruction

Loss resulting directly from the **Assured** having, in good faith, transferred, paid, or delivered **Money** or **Securities** in reliance upon any **Voice Initiated Funds Transfer Instruction** that purports, and reasonably appears, to have originated from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the **Customer**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. an **Employee** acting on instructions of such **Customer**;
or

PF-52903 (08/21) Page 3 of 17

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|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. a financial institution
acting on behalf of such **Customer** with authority to make such instructions,

but which **Voice Initiated Funds Transfer Instruction** was, in fact, fraudulently issued without the knowledge of the **Assured**, **Employee**, or **Customer**.

As a condition precedent to coverage under this Insuring Clause 11, the **Voice Initiated Funds Transfer Instruction** must be received and processed in accordance with the Designated Procedures as outlined in the Application furnished to the Company.

------

**II.** **GENERAL AGREEMENTS** 

&nbsp;&nbsp;&nbsp;&nbsp;1. Automatic Increase – Limit Of Liability

If, during the Bond Period, an increase in the minimum amount of the Single Loss Limit Of Liability applicable to Insuring Clause 1 is required pursuant to Rule 17g-1 of the Investment Company Act of 1940, as a result of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the creation of a new **Investment Company**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. an increase in the gross assets of **Investment Companies** covered
under the Bond,

then the minimum required increase in the amount of the Single Loss Limit Of Liability applicable to Insuring Clause 1 shall take place automatically for the remainder of the Bond Period without payment of an additional premium.

&nbsp;&nbsp;&nbsp;&nbsp;2. Joint Assured

&nbsp;&nbsp;&nbsp;&nbsp;The first named **Assured** shall be deemed to be the sole agent of the other **Assureds** for all purposes under this Bond, including but not limited to the giving or receiving of any notice or proof required to be given and for the purpose of effecting or accepting any amendments to or termination of this Bond.

&nbsp;&nbsp;&nbsp;&nbsp;If the first named **Assured** ceases for any reason to be covered under this Bond, then the **Assured** next named on the Application shall thereafter be considered as the first named **Assured** for the purposes of this Bond.

&nbsp;&nbsp;&nbsp;&nbsp;The Company shall furnish each **Assured** with a copy of the Bond and with any amendment thereto, together with a copy of each formal filing of claim by any other **Assured** and notification of the terms of the settlement of each such claim prior to the execution of such settlement.

&nbsp;&nbsp;&nbsp;&nbsp;Knowledge possessed or discovery made by any **Assured** shall constitute knowledge possessed or discovery made by all of the **Assureds** for the purposes of this Bond.

&nbsp;&nbsp;&nbsp;&nbsp;All loss and other payments, if any, payable by the Company, shall be payable to the first named **Assured** without regard to such **Assured's** obligations to others, and the Company shall not be responsible for the application by the first named **Assured** of any payment made by the Company. If the Company agrees to and makes payment to any **Assured** other than the first named **Assured**, such payment shall be treated as though made to the first named **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not be liable for loss sustained by one **Assured** to the advantage of any other **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;3. Notice To Company Of Legal Proceedings Against Assured – Election
To Defend

&nbsp;&nbsp;&nbsp;&nbsp;The **Assured** shall promptly give notice to the Company of any legal proceeding brought to determine the **Assured's** liability for any loss, claim or damage which, if established, would constitute a collectible loss under this Bond. Concurrent with such notice, and as requested thereafter, the **Assured** shall furnish copies of all pleadings and pertinent papers to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;The Company may, at its sole option, elect to conduct the defense of all or part of such legal proceeding. The defense by the Company shall be in the name of the **Assured** through attorneys selected by the Company. The **Assured** shall provide all reasonable information and assistance as required by the Company for such defense.

PF-52903 (08/21) Page 4 of 17

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| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

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If the Company elects to defend all or part of any legal proceeding, the court costs and attorneys' fees incurred by the Company and any settlement or judgment on that part defended by the Company shall be a loss under the applicable Insuring Clause of this Bond. In addition, if the amount demanded in the legal proceeding is greater than the amount recoverable under this Bond, or if a Deductible Amount is applicable, or both, the Company's liability for court costs and attorneys' fees incurred in defending all or part of such legal proceeding is limited to the proportion of such court costs and attorneys' fees incurred that the amount recoverable under this Bond bears to the total of the amount demanded in such legal proceeding.

If the Company declines to defend the **Assured**, no settlement without the prior written consent of the Company or judgment against the **Assured** shall determine the existence, extent or amount of coverage under this Bond, and the Company shall not be liable for any costs, fees and expenses incurred by the **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;4. Representations Made By Assured

The **Assured** represents that all information it has furnished in the Application for this Bond or otherwise is complete, true and correct. Such Application and other information constitute part of this Bond. Any intentional misrepresentation, omission, concealment or incorrect statement of a material fact, in the Application or otherwise, shall be grounds for rescission of this Bond.

**III.** **DEFINITIONS** 

As used in this Bond:

**Acceptance** means a draft which the drawee has, by signature written on it, engaged to honor as presented.

**Assured** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the **Investment Company** listed under Name of **Assured** in
the Declarations (the "first named **Assured** "); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any other **Investment Company** listed in the
Application.

**Assured** does not include any entity or organization that is not an **Investment Company**.

**Assured's Network** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the **Assured's Computer System**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) an **Electronic Communication System**.

**Audit Expenses** means reasonable expenses incurred by the **Assured** with the Company's prior written consent, which shall not be unreasonably withheld, for audits or examinations required by any governmental regulatory authority or self-regulatory organization to be conducted by such authority, organization, or their appointee. **Audit Expense** shall not include the **Assured's** internal corporate costs (such as salaries), attorneys' fees, or expenses incurred by any customer.

**Certificate of Deposit** means an acknowledgment in writing by a financial institution of receipt of **Money** with an engagement to repay it.

**Certificated Security** means a share, participation or other interest in property of the issuer, or an enterprise of the issuer, or an obligation of the issuer, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) represented by an instrument issued in bearer or registered
form;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) of a type commonly dealt in on securities exchanges or markets
or commonly recognized in any area in which it is issued or dealt in as a medium for investment; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) either one of a class or series or by its terms divisible into
a class or series of shares, participations, interests or obligations.

PF-52903 (08/21) Page 5 of 17

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| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

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**Claims Expenses** means reasonable expenses incurred by the **Assured** with the Company's prior written consent, which shall not be unreasonably withheld, solely for independent firms or individuals retained to determine the amount of a covered loss. **Claims Expenses** shall not include the **Assured's** internal corporate costs (such as salaries), attorneys' fees, or expenses incurred by any customer.

**Computer System** means a device or group of devices and all input, output, processing, storage, off-line media libraries (including third-party hosted computing services accessed across the internet, including infrastructure, platform, and software services), and communication facilities, including related communications networks, which are connected directly or indirectly to such device or group of devices.

**Counterfeit Original** means an imitation of an actual valid **Original** which is intended to deceive and be taken as the **Original**.

**Cryptocurrency** means a digital or electronic medium of exchange, operating independently of a central bank, in which encryption techniques are used to regulate the generation of units and to verify the transfer of such units.

**Custodian** means the institution designated by an **Assured** to maintain possession and control of its assets.

**Customer** means any shareholder of an **Assured** which has a written agreement with the **Assured** to transfer such shareholder's **Money** or **Securities** through a **Voice Initiated Funds Transfer Instruction**.

**Customer Communication System** means an:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) online portal or mobile application provided by the **Assured** for
purposes of accessing a **Customer's** account; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) electronic mailing system hosted by the **Assured** or
by a third party cloud service provider.

**Director** means any natural person duly elected or appointed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) as an officer of the **Assured**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) to the **Assured's** board of directors;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) as a trustee of the **Assured**.

**Electronic Communication System** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Fedwire, Clearing House Interbank Payment System (CHIPS), Society
for Worldwide Interbank Financial Telecommunication (SWIFT), and similar automated interbank communication systems in which the **Assured** participates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **Customer Communication System**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) any communication system similar to those set forth in (1) and
(2) of this definition in which the **Assured** participates,

allowing for the input, output, examination, or transfer of electronic instructions into or from the **Assured's Computer System**.

**Employee** means any natural person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) while in the regular service of an **Assured** in
the ordinary course of such **Assured's** business, whom such **Assured** compensates directly by salary
or wage and has the right to control and direct in the performance of such service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) **Director** while in the regular service of an **Assured** in
the ordinary course of such **Assured's** business, or while acting as a member of any committee duly elected or appointed
to examine or audit or have custody of or access to **Property** of the **Assured**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) intern while in the regular service of an **Assured** in
the ordinary course of such **Assured's** business;

PF-52903 (08/21) Page 6 of 17

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| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) provided by an employment contractor while in the regular service
of an **Assured** in the ordinary course of such **Assured's** business under the **Assured's** supervision
at any of the **Assured's** premises;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) employee of the **Assured's** contracted:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. investment advisor;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. underwriter (distributor);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. transfer agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. shareholder accounting record-keeper; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. fund administrator,

while performing acts for the **Assured** in the capacity of an **Employee**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) attorney of a law firm retained by the **Assured** while
performing legal services for the **Assured**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) **Processor**, but only while such **Processor** is
performing services and not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. creating, preparing, modifying, or maintaining the **Assured's** computer
applications or software programs; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. acting as a transfer agent or in any other agency capacity in
issuing checks, drafts, or securities for the **Assured**.

Each employer of persons as set forth in (6) and (7) of this definition and the partners, officers, and other employees of such employers shall collectively be deemed to be one person for the purpose of the definition of **Single Loss** and in the event of payment under this Bond, the Company shall be subrogated to the **Assured's** rights of recovery, as stated in Section 12., Subrogation – Assignment – Recovery, of the Conditions and Limitations, against any such employer.

**Employee** does not include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any employee of a fund administrator for any employee benefit
plan; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any employee of a transfer agent, shareholder accounting record-keeper,
or fund administrator which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. not an "affiliated person" (as defined in Section
2(a) of the Investment Company Act of 1940) of an **Assured** or of the investment advisor or underwriter (distributor)
of such **Assured**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. a "bank" (as defined in Section 2(a) of the Investment
Company Act of 1940).

**Evidence of Debt** means an instrument, including a **Negotiable Instrument**, executed by a **Customer** and held by the **Assured**, which in the regular course of business is treated as evidencing the **Customer's** debt to the **Assured**.

**Forgery** means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) affixing the handwritten signature, or a reproduction of the
handwritten signature, of another natural person without authorization and with the intent to deceive; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) affixing the name of an organization as an endorsement to a
check without authority and with the intent to deceive,

provided that a signature which consists in whole or in part of one's own name signed with or without authority, in any capacity, for any purpose is not a **Forgery**.

**Initial Transaction Statement** means the first written statement signed by or on behalf of the issuer of an **Uncertificated Security** sent to the registered owner or registered pledgee containing:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a description of the issue of which the **Uncertificated Security** is a part;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the number of shares or units transferred to the registered
owner, pledged by the registered owner to the registered pledgee, or released from pledge by the registered pledgee;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) the name, address and taxpayer identification number, if any,
of the registered owner and registered pledgee; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) the date the transfer, pledge or release was registered.

**Instruction** means a written order to the issuer of an **Uncertificated Security** requesting that the transfer, pledge or release from pledge of the specified **Uncertificated Security** be registered.

**Investment Company** means any entity registered under the Investment Company Act of 1940.

**Items of Deposit** means one or more checks or drafts drawn upon a financial institution in the United States of America.

**Larceny or Embezzlement** means larceny and embezzlement as defined under Section 37 of the Investment Company Act of 1940.

**Letter of Credit** means an engagement in writing by a bank or other person made at the request of a customer that the bank or other person will honor drafts or other demands for payment in compliance with the conditions specified in the engagement.

**Money** means a medium of exchange in current use authorized or adopted by a domestic or foreign government as part of its currency.

**Negotiable Instrument** means any writing:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) signed by the maker or drawer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) containing an unconditional promise or order to pay a sum certain
in **Money** and no other promise, order, obligation or power given by the maker or drawer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) payable on demand or at a definite time; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) payable to order or bearer.

**Negotiable Instrument** includes a substitute check as defined in the Check Clearing for the 21<sup>st</sup> Century Act, and shall be treated the same as the **Original** it replaced.

**Network Intrusion** means the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) unauthorized access; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) entry of an unauthorized application or software program,

into the **Assured's Network**, by any entity or natural person, except an **Employee** or any authorized representative of the **Assured**.

**Original** means the first rendering or archetype and does not include photocopies or electronic transmissions even if received and printed.

**Processor** means an employee of any entity authorized by the **Assured** to perform data processing of the **Assured's** checks and accounting records related to such checks. **Processor** does not include any employee of a Federal Reserve Bank or clearing house.

**Property** means **Money**; **Securities**; **Initial Transaction Statement**; **Negotiable Instrument**; **Certificate of Deposit**; **Acceptance**; **Evidence of Debt**; **Withdrawal Order**; **Letter of Credit**; insurance policy; abstract of title, deed and mortgage on real estate; revenue and other stamps; precious metals in any form; and books of accounts and other **Written** records, but not electronic data processing records or media.

**Property** does not include electronic data or **Cryptocurrency**.

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**Securities** means either **Certificated Securities** or **Uncertificated Securities**.

**Single Loss** means all covered loss, court costs, and attorneys' fees resulting from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) any one act of burglary, robbery or attempt at either, in which
no **Employee** is implicated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) any one act or series of related acts on the part of any natural
person resulting in the damage, destruction, or misplacement of **Property**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) all acts other than those specified in (1) and (2) of this definition,
caused by any natural person or in which such natural person is implicated; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) any one event not specified in (1), (2) or (3) of this definition.

**Transportation Company** means any organization which provides its own or its leased vehicles for transportation or which provides freight forwarding or air express services.

**Uncertificated Security** means a share, participation or other interest in property of the issuer, or an enterprise of the issuer, or an obligation of the issuer, which is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) not represented by an instrument and the transfer of which is
registered on books maintained for that purpose by or on behalf of the issuer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) of a type commonly dealt in on securities exchanges or markets;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) either one of a class or series or by its terms divisible into
a class or series of shares, participations, interests or obligations.

**Voice Initiated Funds Transfer Instruction** means those oral instructions which authorize the transfer of **Money** in a **Customer's** account, or of a **Customer's Securities**, and which are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) made over a telecommunications device; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) directed to those natural persons specifically authorized to
receive such instructions by such telecommunications device.

**Withdrawal Order** means a non-negotiable instrument, other than an **Instruction**, signed by a **Customer** authorizing the **Assured** to debit the **Customer's** account in the amount of funds stated therein.

**Written** means expressed through letters or marks placed upon paper and visible to the eye.

For the purposes of these definitions, the singular includes the plural and the plural includes the singular, unless otherwise indicated.

------

**IV.** **EXCLUSIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;1. General Exclusions – Applicable To All Insuring
Clauses

This Bond does not cover loss resulting directly or indirectly from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. riot or civil commotion outside the United States of America
and Canada, or any loss due to military, naval or usurped power, war or insurrection. This Exclusion 1.a., however, shall not apply to
loss which occurs in transit in the circumstances recited in Insuring Clause 3, provided that when such transit was initiated there was
no knowledge on the part of any person acting for the **Assured** of such riot, civil commotion, military, naval or usurped
power, war or insurrection;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. the effects of nuclear fission or fusion, radioactivity, or
chemical or biological contamination;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. the loss of potential income. This Exclusion 1.c., however,
shall not apply to interest and dividends accrued to the benefit of the **Assured** or any **Customer** prior
to the discovery of a covered loss, whether or not such accrued interest or dividends have been paid into the account of such **Assured** or **Customer** as of the discovery of such covered loss;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. damages of any type for which the **Assured** is
legally liable, except compensatory damages, but not multiples thereof, arising from a loss covered under this Bond;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. all costs, fees and expenses incurred by the **Assured**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in establishing the existence of or amount of loss covered under
this Bond, except for loss covered under Insuring Clause 8 or 9; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) as a party to any legal proceeding, even if such legal proceeding
results in a loss covered by this Bond;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. indirect or consequential loss of any nature, except for loss
covered under Insuring Clause 8 or 9. This Exclusion 1.f., however, shall not apply to interest and dividends accrued to the benefit
of the **Assured** or any **Customer** prior to the discovery of a covered loss, whether or not such accrued interest
or dividends have been paid into the account of such **Assured** or **Customer** as of the discovery of such
covered loss;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. any violation by the **Assured** or by any **Employee**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) of any law regulating:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the issuance, purchase or sale of securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. securities transactions on security or commodity exchanges or
the over the counter market;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. investment companies; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. investment advisors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) of any rule or regulation made pursuant to any such law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. the loss or disclosure of confidential information, material
or data, while in the care, custody or control of the **Assured**, including but not limited to patents, trade secrets, processing
methods, customer lists, financial information, credit card information, health information, retirement or health savings account information,
or any similar type of non-public information. This Exclusion 1.h., however, shall not apply when such information, material or data
is used to support or facilitate the commission of any act otherwise covered under this Bond;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. fees, costs, fines, penalties or any other expenses incurred
by an **Assured** which result, directly or indirectly, from the access to or disclosure of an **Assured's** or
another entity's or person's confidential or personal information, including but not limited to patents, trade secrets, processing
methods, customer lists, financial information, credit card information, health information, retirement or health savings account information,
or any similar type of non-public information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. liability resulting from disclosure of or acting on material
nonpublic information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. liability assumed by the **Assured** by agreement
under any contract, unless loss under this Bond would be covered in the absence of such agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. the dishonest acts of any **Director** who is not
an **Employee**, acting alone or in collusion with others;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m. any modification, damage, destruction, deletion, or corruption
of any application or software program within the **Assured's Network**, except for loss covered under Insuring Clause
7;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n. a threat or series of threats to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) gain access to the **Assured's Computer System** and
sell or disclose confidential information stored within the **Assured's Computer System**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) modify, damage, destroy, delete, or corrupt any application
or software program within the **Assured's Computer System**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o. costs or expenses of any independent forensic analysts or network
security consultants engaged to investigate or assess any actual or alleged threat;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;p. costs or expenses incurred to identify or remediate application
or software program errors or vulnerabilities, or costs to update, replace, restore, upgrade, maintain, or improve a **Computer System**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q. costs or expenses incurred to replace, restore, recreate, collect,
or recover any application or software program; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;r. **Cryptocurrency**.

&nbsp;&nbsp;&nbsp;&nbsp;2. Specific Exclusions – Applicable To All Insuring
Clauses Except Insuring Clause 1

This Bond does not cover loss resulting directly or indirectly from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the acts of an **Employee**, except for loss covered
under:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Insuring Clause 2 or 3 which results directly from misplacement,
mysterious unexplainable disappearance, or damage or destruction of **Property**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Insuring Clause 11;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. the surrender of a ransom or extortion payment away from the **Assured's** premises
as a result of a threat to do bodily harm to any person, or to do damage to the premises or **Property** of the **Assured**,
except for loss covered under Insuring Clause 3.b.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. payments made or withdrawals from any account involving erroneous
credits to such account, unless such payments or withdrawals are physically received by such depositor or representative of such depositor
who is within the premises of the **Assured** at the time of such payment or withdrawal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. any **Uncertificated Security**, except for loss covered
under Insuring Clause 7;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. the loss of **Property** while:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) in the mail;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) in the custody of a **Transportation Company**, except
for loss covered under Insuring Clause 3; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) located on the premises of an armored motor vehicle operator;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. damages resulting from any civil, criminal or other legal proceeding
in which the **Assured** is adjudicated to have engaged in **Racketeering** activity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. the failure for any reason of a financial or depository institution,
its receiver or other liquidator to pay or deliver funds or **Property** to the **Assured,** except for loss
of **Securities** covered under Insuring Clause 2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. instructions issued by a **Customer** to the **Assured** when
such instructions are made, sent, or originated by a natural person authorized by the **Customer** to make, send, or originate
any instructions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. the use of credit, debit, charge, access, convenience, identification,
cash management, or other cards whether such cards were issued, or purport to have been issued, by the **Assured** or by
any entity other than the **Assured**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j. **Items of Deposit** which are not finally paid for
any reason including, but not limited to, **Forgery** or any other fraud, except for loss covered under Insuring Clause
10;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k. the acts of any agent, broker, factor, commission merchant,
independent contractor, intermediary, finder, or other representative of the same general character of the **Assured**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l. the acts of any employee, agent, broker, factor, commission
merchant, independent contractor, intermediary, finder, or other representative of the same general character of any third party, while
conducting business with the **Assured** on behalf of such third party.

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&nbsp;&nbsp;&nbsp;&nbsp;3. Specific Exclusions – Applicable To All Insuring
Clauses Except Insuring Clauses 1, 4, and 5

This Bond does not cover loss resulting directly or indirectly from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the complete or partial non-payment of or default on any loan
whether such loan was procured in good faith or through trick, artifice, fraud, or false pretenses, except for loss covered under Insuring
Clause 7;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. any **Forgery** or any alteration, except for loss
covered under Insuring Clause 7; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. any counterfeit, except for loss covered under Insuring Clause
6. &nbsp;&nbsp;&nbsp;&nbsp;4. Specific Exclusions – Applicable To Insuring
Clause 7

This Bond does not cover loss resulting directly or indirectly from:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. any transfer, payment, or delivery of **Money or Securities**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) authorized by an **Employee**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) arising out of any misrepresentation received by any **Employee**,
agent, broker, factor, commission merchant, independent contractor, intermediary, finder, or other representative of the same general
character of the **Assured**,

whether such transfer, payment, or delivery was made in good faith or as a result of trick, artifice, fraud, or false pretenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. forged, altered or fraudulent **Negotiable Instruments**, **Securities**,
documents or written instruments used as source documentation for input into a **Computer System**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. any investment in **Securities**, or ownership in any
corporation, partnership, real property, commodity or similar instrument, whether or not such investment is genuine or fraudulent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. mechanical failure, faulty construction, error in design, latent
defect, wear and tear, gradual deterioration, electrical disturbance, the **Assured's Network** failure or breakdown,
any malfunction or error in programming, or error or omission in processing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. entries or changes made by a natural person with authorized
access to the **Assured's Network** who acts in good faith on instructions, unless such instructions are given
to that person by a software contractor or its partner, officer, or employee authorized to design, develop, prepare, supply, service,
write or implement programs for the **Assured's Network**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. entries or changes made at an **Electronic Funds Transfer System** or a **Customer Communication System** by a:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **Customer**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) natural person with authorized access to the **Customer's** authentication
credentials or mechanism.

&nbsp;&nbsp;&nbsp;&nbsp;5. Specific Exclusions – Applicable To Insuring
Clause 11

This Bond does not cover loss resulting directly or indirectly from any **Voice Initiated Transfer Instruction** from a:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) **Customer**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) natural person with authorized access to the **Customer's** verification
credentials or mechanism.

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**V.** **CONDITIONS AND LIMITATIONS** 

&nbsp;&nbsp;&nbsp;&nbsp;1. Anti-Bundling

If any Insuring Clause requires that an enumerated type of document be fraudulently materially altered or a **Counterfeit Original**, or contain a signature which is a **Forgery** or obtained through trick, artifice, fraud, or false pretenses, the material alteration or **Counterfeit Original** or fraudulent signature must be on or of the enumerated document itself not on or of some other document submitted with, accompanying or incorporated by reference into the enumerated document.

&nbsp;&nbsp;&nbsp;&nbsp;2. Change Or Modification

No change in or modification of this Bond shall be effective except when made by written endorsement to this Bond signed by an authorized representative of the Company.

If this Bond is for a sole **Assured**, no change or modification which would adversely affect the rights of the **Assured** shall be effective prior to sixty (60) days after written notice has been furnished by the acting party to the U.S. Securities and Exchange Commission.

If this Bond is for joint **Assureds**, no change or modification which would adversely affect the rights of any **Assured** shall be effective prior to sixty (60) days after written notice has been furnished by the Company to all **Assureds** and to the U.S. Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;3. Conformity

If any time period limitation within this Bond is prohibited by any law controlling this Bond's construction, such limitation shall be deemed to be amended so as to equal the minimum period of limitation provided by such law.

&nbsp;&nbsp;&nbsp;&nbsp;4. Cooperation Of Assured

At the Company's request and at reasonable times and places designated by the Company, the **Assured** shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. submit to examination by the Company and subscribe to the same
under oath;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. produce for the Company's examination all pertinent records;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. cooperate with the Company in all matters pertaining to the
loss.

The **Assured** shall execute all papers and render all assistance to secure to the Company the rights and causes of action provided for under this Bond. The **Assured** shall do nothing after discovery of any loss to prejudice such rights or causes of action.

&nbsp;&nbsp;&nbsp;&nbsp;5. Covered Property

This Bond shall apply to loss of **Property**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. owned by the **Assured**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. held by the **Assured** in any capacity; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. for which the **Assured** is legally liable.

This Bond shall be for the sole use and benefit of the **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;6. Deductible Amount

The Company shall be liable under this Bond only for the amount by which any **Single Loss** is greater than the applicable Deductible Amount as stated in Item 2 of the Declarations.

There shall be no deductible applicable to any loss sustained by any **Assured** and covered under Insuring Clause 1.

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&nbsp;&nbsp;&nbsp;&nbsp;7. Discovery

This Bond applies only to loss first discovered by a **Director** during the Bond Period. Discovery occurs at the earlier of a **Director** learning of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. facts which may subsequently result in a loss of a type covered
by this Bond; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. an actual or potential claim in which it is alleged that the **Assured** is
liable to a third party,

regardless of when the act or acts causing or contributing to such loss occurred, even though the amount of loss does not exceed the applicable Deductible Amount, or the exact amount or details of loss may not then be known.

&nbsp;&nbsp;&nbsp;&nbsp;8. Limit Of Liability

The payment of any loss under this Bond shall not reduce the liability of the Company for other losses whenever sustained, provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. the Company's liability for each **Single Loss** shall
not exceed the applicable Single Loss Limit Of Liability as stated in Item 2 of the Declarations or as set forth under General Agreement
1, and shall not be cumulative in amounts from year to year or from Bond Period to Bond Period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. if a **Single Loss** is covered under more than
one Insuring Clause, the maximum payable shall not exceed the largest applicable Single Loss Limit Of Liability; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. the Company's liability for loss or losses sustained
by more than one **Assureds**, or all **Assureds**, shall not exceed the total amount for which the Company would be
liable under this Bond if such loss or losses were sustained by any one **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;9. Notice To Company – Proof – Legal
Proceedings Against Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The **Assured** shall give the Company notice at
the earliest practicable moment, not to exceed sixty (60) days after discovery of a loss, in an amount that is in excess of 50% of the
applicable Deductible Amount, as stated in Item 2 of the Declarations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The **Assured** shall furnish to the Company proof
of loss, duly sworn to, with full particulars, within six (6) months after such discovery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. **Certificated Securities** listed in a proof of loss
shall be identified by certificate or bond numbers, if issued with them.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Legal proceedings for the recovery of any loss under this Bond
shall not be brought prior to the expiration of sixty (60) days after the proof of loss is filed with the Company or after the expiration
of twenty-four (24) months from the discovery of such loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. This Bond affords coverage only in favor of the **Assured**.
No claim, suit, action or legal proceeding shall be brought under the Bond by anyone other than the **Assured**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. All such notices shall be given in writing to one of the following
addresses:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>ChubbClaimsFirstNotice@chubb.com</u>;
 or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Attn: Chubb Claims Department

Chubb

P.O. Box 5122

Scranton, PA 18505

PF-52903 (08/21) Page 14 of 17

---

| | |
|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. All other notices to the Company under this Bond shall be given
in writing to the following address:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) <u>NA.FinancialLines@chubb.com</u>;
 or

---

| | |
|:---|:---|
| (2) | Attn: Chubb Underwriting Department |
|  | Chubb |
|  | 202B Hall's Mill Road |
|  | Whitehouse Station, NJ 08889 |

---

All notices described above shall be effective on the date of receipt by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;10. Other Insurance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Coverage under this Bond shall apply only as excess over any
other valid and collectible insurance, indemnity or suretyship obtained by or on behalf of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the **Assured**;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) a **Transportation Company**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) another entity on whose premises the loss occurred or which
employed the person causing the loss or engaged the messenger conveying the **Property** involved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Solely with respect to Insuring Clause 7, in the event of a
loss covered under this Bond and also covered under other valid and collectible insurance issued by the Company, or a parent, subsidiary
or affiliate of the Company to the **Assured**, the Single Loss Limit Of Liability under this Bond shall be reduced by any payment
under any other such valid and collectible insurance and only the remainder, if any, shall be applicable to such loss covered hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;11. Securities Settlement

In the event of a loss of **Securities** covered under this Bond, the Company may, at its sole discretion, purchase replacement **Securities**, tender the value of the **Securities** in **Money**, or issue its indemnity to effect replacement **Securities**.

The indemnity required from the **Assured** under the terms of this Section against all loss, cost or expense arising from the replacement of **Securities** by the Company's indemnity shall be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. for **Securities** having a value less than or
equal to the applicable Deductible Amount – one hundred (100%) percent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. for **Securities** having a value in excess of
the applicable Deductible Amount but within the Single Loss Limit Of Liability – the percentage that the Deductible Amount
bears to the value of the **Securities**; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. for **Securities** having a value greater than
the applicable Single Loss Limit Of Liability – the percentage that the Deductible Amount and portion in excess of the
Single Loss Limit Of Liability bears to the value of the **Securities**.

The value referred to in Sections 11.a., b., and c. is the value in accordance with Section 14., Valuation, regardless of the value of such **Securities** at the time the loss under the Company's indemnity is sustained.

The Company is not required to issue its indemnity for any portion of a loss of **Securities** which is not covered by this Bond, however, the Company may do so as a courtesy to the **Assured** in its sole discretion.

The **Assured** shall pay the proportion of the Company's premium charge for the Company's indemnity as set forth in Sections 11.a., b., and c. No portion of the Single Loss Limit Of Liability shall be used as payment of premium for any indemnity purchased by the **Assured** to obtain replacement **Securities**.

&nbsp;&nbsp;&nbsp;&nbsp;12. Subrogation – Assignment – Recovery

In the event of a payment under this Bond, the Company shall be subrogated to all of the **Assured's** rights of recovery against any person or entity to the extent of such payment. On request, the **Assured** shall deliver to the Company an assignment of the **Assured's** rights, title and interest and causes of action against any person or entity to the extent of such payment.

PF-52903 (08/21) Page 15 of 17

---

| | |
|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

Recoveries, whether effected by the Company or by the **Assured**, shall be applied net of the expense of such recovery, in the following order:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. first, to the satisfaction of the **Assured's** covered
loss which would otherwise have been paid but for the fact that it is in excess of the Single Loss Limit Of Liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. second, to the Company in satisfaction of amounts paid in settlement
of the **Assured's** claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. third, to the **Assured** in satisfaction of the
applicable Deductible Amount; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. fourth, to the **Assured** in satisfaction of any
loss suffered by the **Assured** which was not covered under this Bond.

Recovery from reinsurance or indemnity of the Company shall not be deemed a recovery under this Section.

&nbsp;&nbsp;&nbsp;&nbsp;13. Termination

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. If the Bond is for a sole **Assured**, it shall not
be terminated unless written notice shall have been given by the acting party to the affected party and to the U.S. Securities and Exchange
Commission not less than sixty (60) days prior to the effective date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. If the Bond is for a joint **Assured**, it shall not
be terminated unless written notice shall have been given by the acting party to the affected party, and by the Company to all **Assureds** and
to the U.S. Securities and Exchange Commission, not less than sixty (60) days prior to the effective date of such termination.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. If any **Director**, not acting in collusion with an **Employee**,
discovers any dishonest or fraudulent act committed by such **Employee**, whether in the employment of the **Assured** or
otherwise, and whether against the **Assured** or any other person or entity, the **Assured**:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. shall immediately remove such **Employee** from
a position that would enable such **Employee** to cause the **Assured** to suffer a loss covered by this Bond;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. within forty-eight (48) hours of discovering an **Employee** has
committed any dishonest or fraudulent act, shall notify the Company of such action and provide full particulars of such dishonest or
fraudulent act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. This Bond terminates as to any **Employee** sixty
(60) days after receipt by each **Assured** and the U.S. Securities and Exchange Commission of written notice from the Company
of its decision to terminate this Bond as to any **Employee**.

&nbsp;&nbsp;&nbsp;&nbsp;14. Valuation

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Books Of Account Or Other Records

The value of any loss of **Property** consisting of books of account or other records used by the **Assured** in the conduct of its business shall be the amount paid by the **Assured** for blank books, blank pages, or other materials which replace the lost books of account or other records, plus the cost of labor paid by the **Assured** for the actual transcription or copying of data to reproduce such books of account or other records.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Money

Any loss of **Money**, or loss payable in **Money**, shall be paid in the **Money** of the United States of America or the dollar equivalent of it, determined by the free market rate of exchange in effect at the time of discovery of such loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Other Property

The value of any loss of **Property**, except as otherwise provided for in this Section 14., shall be the actual cash value or the cost of repairing or replacing such **Property** with **Property** of like quality and value, whichever is less.

PF-52903 (08/21) Page 16 of 17

---

| | |
|:---|:---|
| ![](tm261914d1_4017gimg001.jpg) | **Financial Institution Bond** **<br> For Investment Companies** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Securities

The value of any loss of **Securities** shall be the average market value of such **Securities** on the business day immediately preceding discovery of such loss, provided that the value of any **Securities** replaced by the **Assured**, with the consent of the Company and prior to the settlement of any claim for them, shall be the actual market value at the time of replacement. In the case of a loss of interim certificates, warrants, rights or other **Securities**, the production of which is necessary to the exercise of subscription, conversion, redemption or deposit privileges, the value of them shall be the market value of such privileges immediately preceding their expiration if the loss is not discovered until after their expiration. If no market price is quoted for such **Securities** or for such privileges, the value shall be fixed by agreement of the parties.

------

**VI.** **COMPLIANCE WITH APPLICABLE TRADE SANCTION LAWS** 

This Bond does not apply to the extent that trade or economic sanctions law or other similar laws or regulations prohibit the Company from providing insurance.

PF-52903 (08/21) Page 17 of 17

![](tm261914d1_4017gimg001.jpg)

**AMEND DEFINITION OF EMPLOYEE (CONSULTANT) ENDORSEMENT**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Named Assured |  | &nbsp;&nbsp;Endorsement Number |
| &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST | &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST | &nbsp;&nbsp;1 |
| &nbsp;&nbsp;Bond Number | &nbsp;&nbsp;Bond Period | &nbsp;&nbsp;Effective Date of Endorsement |
| &nbsp;&nbsp;J06102748 | &nbsp;&nbsp;12-15-2025 to 12-15-2026 | &nbsp;&nbsp;December 15, 2025 |
| &nbsp;&nbsp;Issued By |  |  |
| &nbsp;&nbsp;Federal Insurance Company |  |  |

---

**THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.**

In consideration of the premium charged, it is agreed that this Bond is amended as follows:

(1) The
definition of **Employee** is amended to include a natural person consultant retained by the **Assured** and
an employee of such consultant while either is performing consulting services for the **Assured** pursuant to a written
contract.

(2) Each
employer of persons as set forth above and the partners, officers, and other employees of such employers shall collectively be deemed
to be one person for the purpose of the definition of **Single Loss** and in the event of payment under this Bond, the Company
shall be subrogated to the **Assured's** rights of recovery, as stated in Section 12., Subrogation – Assignment
 – Recovery, of the Conditions and Limitations, against any such employer.

The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.

All other terms, conditions and limitations of this Bond shall remain unchanged

---

| |
|:---|
| ![](tm261914d1_4017gimg004.jpg) |
| Authorized Representative |

---

PF-51444 (06/19) Page 1 of 1

283261

![](tm261914d1_4017gimg001.jpg)

**AMEND DISCOVERY AND NOTICE TO COMPANY ENDORSEMENT**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Named Assured |  |  |  | &nbsp;&nbsp;Endorsement Number |
| &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST | &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST |  |  | &nbsp;&nbsp;2 |
| &nbsp;&nbsp;Bond Number | &nbsp;&nbsp;Bond Period |  |  | &nbsp;&nbsp;Effective Date of Endorsement |
| &nbsp;&nbsp;J06102748 | &nbsp;&nbsp;12-15-2025 | &nbsp;&nbsp;to | &nbsp;&nbsp;12-15-2026 | &nbsp;&nbsp;December 15, 2025 |
| &nbsp;&nbsp;Issued By |  |  |  |  |
| &nbsp;&nbsp;Federal Insurance Company |  |  |  |  |

---

**THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.**

In consideration of the premium charged, it is agreed that this Bond is amended as follows:

(1) Section
7., Discovery, of the Conditions and Limitations is deleted and replaced with the following:

&nbsp;&nbsp;&nbsp;&nbsp;7. Discovery

This Bond applies only to loss first discovered by the General Counsel, CFO, Treasurer, Risk Manager, Compliance Officer of the first named **Assured** during the Bond Period. Discovery occurs at the earlier of the General Counsel, CFO, Treasurer, Risk Manager, Compliance Officer of the first named **Assured** learning of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. facts
which may subsequently result in a loss of a type covered by this Bond; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. an
actual or potential claim in which it is alleged that the **Assured** is liable to a third party,

regardless of when the act or acts causing or contributing to such loss occurred, even though the amount of loss does not exceed the applicable Deductible Amount, or the exact amount or details of loss may not then be known.

(2) Section
9., Notice to Company – Proof – Legal Proceedings Against Company, of the Conditions and Limitations, is amended by deleting
paragraph a. and replacing with the following:

&nbsp;&nbsp;&nbsp;&nbsp;a. The **Assured** shall
give the Company notice at the earliest practicable moment, not to exceed sixty (60) days after discovery of a loss by the General Counsel,
CFO, Treasurer, Risk Manager, Compliance Officer of the first named **Assured**, in an amount that is in excess of 50% of the
applicable Deductible Amount, as stated in Item 2 of the Declarations.

(3) Section
13., Termination, of the Conditions and Limitations, is amended by deleting the lead-in to paragraph c. and replacing with the following:

&nbsp;&nbsp;&nbsp;&nbsp;c. If
the General Counsel, CFO, Treasurer, Risk Manager, Compliance Officer of the first named **Assured**, not acting in collusion
with an **Employee**, discovers any dishonest or fraudulent act committed by such **Employee**, whether in the employment of
the **Assured** or otherwise, and whether against the **Assured** or any other person or entity, the **Assured**;

The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.

All other terms, conditions and limitations of this policy shall remain unchanged.

---

| |
|:---|
| ![](tm261914d1_4017gimg004.jpg) |
| Authorized Representative |

---

PF-52911 (08/21) Page 1 of 1

![](tm261914d1_4017gimg001.jpg)

**SCHEDULE OF OTHER ASSUREDS ENDORSEMENT**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Named Assured |  |  |  | &nbsp;&nbsp;Endorsement Number |
| &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST | &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST |  |  | &nbsp;&nbsp;3 |
| &nbsp;&nbsp;Bond Number | &nbsp;&nbsp;Bond Period |  |  | &nbsp;&nbsp;Effective Date of Endorsement |
| &nbsp;&nbsp;J06102748 | &nbsp;&nbsp;12-15-2025 | &nbsp;&nbsp;to | &nbsp;&nbsp;12-15-2026 | &nbsp;&nbsp;12-15-2025 |
| &nbsp;&nbsp;Issued By |  |  |  |  |
| &nbsp;&nbsp;Federal Insurance Company |  |  |  |  |

---

**THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.**

**This endorsement modifies insurance provided under the following:**

**FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES**

In consideration of the premium charged, it is agreed that:

(1) In
addition to the first named **Assured**, the **Investment Company(ies)** scheduled in Paragraph (2) of this Endorsement
is/are the other **Assured(s)** under this Bond.

(2) Schedule
of Other **Assureds**:

Series Designated Oakmark Fund

Series Designated Oakmark Select Fund

Series Designated Oakmark Small Cap Fund

Series Designated Oakmark Equity and Income Fund

Series Designated Oakmark International Fund

Series Designated Oakmark International Small Cap Fund

Series Designated Oakmark Global Fund

Series Designated Oakmark Global Select Fund

Series Designated Oakmark Bond Fund

Harris Oakmark ETF Trust

Series Designated Oakmark U.S. Large Cap ETF

Series Designated Oakmark International Large Cap ETF

Series Designated Oakmark Global Large Cap ETF

Series Designated Oakmark U.S. Concentrated ETF

The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.

All other terms, conditions and limitations of this Bond shall remain unchanged.

---

| |
|:---|
| ![](tm261914d1_4017gimg004.jpg) |
| Authorized Representative |

---

PF-52916 (08/21) Page 1 of 1

![](tm261914d1_4017gimg001.jpg)

**STOP PAYMENT ORDER OR REFUSAL TO PAY CHECK ENDORSEMENT**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Named Assured |  |  |  | &nbsp;&nbsp;Endorsement Number |
| &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST | &nbsp;&nbsp;HARRIS ASSOCIATES INVESTMENT TRUST |  |  | &nbsp;&nbsp;4 |
| &nbsp;&nbsp;Bond Number | &nbsp;&nbsp;Bond Period |  |  | &nbsp;&nbsp;Effective Date of Endorsement |
| &nbsp;&nbsp;J06102748 | &nbsp;&nbsp;12-15-2025 | &nbsp;&nbsp;to | &nbsp;&nbsp;12-15-2026 | &nbsp;&nbsp;December 15, 2025 |
| &nbsp;&nbsp;Issued By |  |  |  |  |
| &nbsp;&nbsp;Federal Insurance Company |  |  |  |  |

---

**THIS ENDORSEMENT CHANGES THE BOND. PLEASE READ IT CAREFULLY.**

**This endorsement modifies insurance provided under the following:**

**FINANCIAL INSTITUTION BOND FOR INVESTMENT COMPANIES**

In consideration of the premium charged, it is agreed that solely with respect to coverage afforded under this Endorsement this Bond is amended as follows:

(1) Item
2., Single Loss Limits Of Liability – Deductible Amounts, of the Declarations is amended to include the following:

---

| | | |
|:---|:---|:---|
| Insuring Clause | Single Loss Limit of Liability | Deductible Amount |
| Stop Payment Order | $500000 | $50000 |

---

---

| | |
|:---|:---|
| (2) | The following Insuring Clause is added: |
|  | Stop Payment Order or Refusal to Pay Check |
|  | Loss resulting directly from the **Assured** being legally liable to pay compensatory damages for: |

---

&nbsp;&nbsp;&nbsp;&nbsp;a. complying or failing to comply with notice from any **Customer** or
any authorized representative of any **Customer**, to stop payment on any check or draft made or drawn upon or against the **Assured** by
such **Customer** or by any authorized representative of such **Customer**; or

&nbsp;&nbsp;&nbsp;&nbsp;b. refusing to pay any check or draft made or drawn upon or against
the **Assured** by any **Customer** or by any authorized representative of such **Customer**.

(3) The following Exclusions shall apply: <br>This Bond does not cover loss resulting directly or indirectly from:

&nbsp;&nbsp;&nbsp;&nbsp;a. libel, slander, wrongful entry, eviction, defamation, false
arrest, false imprisonment, malicious prosecution, assault, or battery;

&nbsp;&nbsp;&nbsp;&nbsp;b. sickness, disease, physical bodily harm, mental or emotional
distress or anguish, or death of any person; or

&nbsp;&nbsp;&nbsp;&nbsp;c. discrimination.

The title and any headings in this endorsement/rider are solely for convenience and form no part of the terms and conditions of coverage.

All other terms, conditions and limitations of this Bond shall remain unchanged.

---

| |
|:---|
| ![](tm261914d1_4017gimg004.jpg) |
| Authorized Representative |

---

PF-52917 (08/21) Page 1 of 1

WHEREAS, Harris Associates Investment Trust ("HAIT") and Harris Oakmark ETF Trust ("HOET") (each, a "Fund," and collectively the "Funds") are insured against loss arising from larceny or embezzlement under an investment company asset protection bond issued by Federal Insurance Company, a division of the Chubb Group of Insurance Companies (the "Bond") insuring the Funds' in the amount of $16,475,000 per occurrence; and

WHEREAS the Board of Trustees of the Funds has considered the adequacy of the Bond with due consideration to (i) the number of other parties named as insureds under the Bond; (ii) the amount and type of coverage provided by the Bond, (iii) the aggregate value of the assets of the Funds to which any person covered by the Bond may have access, (iv) the types and terms of the arrangements made by the Funds for the custody and safekeeping of its assets, (v) the nature of the securities in each Funds' portfolio, (vi) the nature and method of conducting the Funds' operations, (vii) the accounting procedures and controls of the Funds; (viii) the ratable allocation of the premium among all the insured parties; and (ix) the extent to which the share of the premium allocable to the Funds is less than the premium it would have had to pay if it had provided and maintained the single insured bond.

RESOLVED, that $16,475,000 per occurrence of fidelity bond coverage is determined to be a reasonable amount of fidelity bond coverage to be maintained by the Funds in accordance with Section 17(g) of and Rule 17g-1 under the Investment Company Act of 1940; and

FURTHER RESOLVED that the Board has determined that the method of allocating the premium among the Funds and the amount of the premium to be paid by the Funds is appropriate; and

FURTHER RESOLVED that in the event any recovery is received under the Bond as a result of a loss sustained by any Fund and by one or more other named insureds, then the Fund sustaining such loss shall receive an equitable and proportionate share of the recovery, said proportion to be established by the ratio that its claim bears to the total amount claimed by all participants, but at least equal to the amount that such Fund would have received had it provided and maintained a single insured bond with the minimum coverage required by Rule 17g-1(d)(1) under the Investment Company Act of 1940; and

FURTHER RESOLVED, that the form of the Bond is approved; and

FURTHER RESOLVED, that the Assistant Secretary of the Funds is designated as the person to make the filings and to give the notices required by Rule 17g-1(g) under the Investment Company Act of 1940.