# EDGAR Filing Document

**Accession Number:** 0000719423
**File Stem:** 0001410368-26-041586
**Filing Date:** 2026-4
**Character Count:** 1809470
**Document Hash:** 4b7f491b3fc144109b189619745a0798
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-041586.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001410368-26-041586

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VALIC Co I
- **CENTRAL INDEX KEY:** 0000719423

**ORGANIZATION NAME:**
- **EIN:** 720029692
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03738
- **FILM NUMBER:** 26910875

**BUSINESS ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 551-235-3560

**MAIL ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **STREET 2:** 16TH FLOOR
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIG Retirement CO I
- **DATE OF NAME CHANGE:** 20080501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VALIC CO I
- **DATE OF NAME CHANGE:** 20020110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTH AMERICAN FUNDS VARIABLE PRODUCT SERIES CO I
- **DATE OF NAME CHANGE:** 20000929

## Series and Classes Contracts Data

### Small Cap Growth Fund (Series ID: S000070756)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000224903 | Small Cap Growth Fund | VVSGX           |

## Nport-Ex

**VALIC Company I Aggressive Allocation Lifestyle Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 99.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 99.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 99.0%** |
| **Domestic Equity Investment Companies — 56.5%** | **Domestic Equity Investment Companies — 56.5%** | **Domestic Equity Investment Companies — 56.5%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Large Cap Core Fund | 5518939 | &nbsp;&nbsp; $100444693 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Growth Fund | 1055505 | &nbsp;&nbsp; 19273512 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Index Fund | 102600 | &nbsp;&nbsp; 1914518 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Value Fund | 1199632 | &nbsp;&nbsp; 17478645 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Stock Index Fund | 2237043 | &nbsp;&nbsp; 153103246 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Growth Fund | 3692508 | &nbsp;&nbsp; 75437935 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Value Fund | 3766681 | &nbsp;&nbsp; 65992243 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Equity Investment Companies** <br>(cost $353,764,514)<br>|  | &nbsp;&nbsp; 433644792 |
| **Domestic Fixed Income Investment Companies — 22.1%** | **Domestic Fixed Income Investment Companies — 22.1%** | **Domestic Fixed Income Investment Companies — 22.1%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Core Bond Fund | 15613066 | &nbsp;&nbsp; 161907497 |
| &nbsp;&nbsp;&nbsp; VALIC Company I High Yield Bond Fund | 1038872 | &nbsp;&nbsp; 7749980 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Fixed Income Investment Companies** <br>(cost $159,498,427)<br>|  | &nbsp;&nbsp; 169657477 |
| **International Equity Investment Companies — 20.4%** | **International Equity Investment Companies — 20.4%** | **International Equity Investment Companies — 20.4%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Emerging Economies Fund | 432336 | &nbsp;&nbsp; 3981813 |
| &nbsp;&nbsp;&nbsp; VALIC Company I International Equities Index Fund | 13715579 | &nbsp;&nbsp; 152517242 |
| &nbsp;&nbsp;&nbsp; **Total International Equity Investment Companies** <br>(cost $103,712,920)<br>|  | &nbsp;&nbsp; 156499055 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $616,975,861)<br>|  | &nbsp;&nbsp; 759801324 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** |
| **Unaffiliated Investment Companies — 0.8%** | **Unaffiliated Investment Companies — 0.8%** | **Unaffiliated Investment Companies — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(2) <br>(cost $6,466,135)<br>| 6466135 | &nbsp;&nbsp; $6466135 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $623,441,996)<br>| 99.8<br> %<br>| &nbsp;&nbsp; 766267459 |
| Other assets less liabilities | 0.2 | &nbsp;&nbsp; 1152268 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $767419727 |

---

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

---

| | |
|:---|:---|
| ^ | Prior to September 29, 2025, the Fund was known as Aggressive Growth Lifestyle Fund. |
| # | &nbsp;&nbsp; The VALIC Company I Aggressive Allocation Lifestyle Fund invests in various VALIC <br> Company I Funds. Additional information on the underlying funds including such funds' <br> prospectuses and shareholder reports are available at our website, <br> www.corebridgefinancial.com/rs.<br>|
| (1) | See Note 3. |
| (2) | The rate shown is the 7-day yield as of February 28, 2026. |

---

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp; $759801324 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $759801324 |
| Short-Term Investments | &nbsp;&nbsp; 6466135 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6466135 |
| **Total Investments at Value** | &nbsp;&nbsp; $766267459 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $766267459 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 59.5%** | **COMMON STOCKS — 59.5%** | **COMMON STOCKS — 59.5%** |
| **Aerospace/Defense — 1.7%** | **Aerospace/Defense — 1.7%** | **Aerospace/Defense — 1.7%** |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 4300 | &nbsp;&nbsp; $1128879 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 1913 | &nbsp;&nbsp; 1385739 |
|  |  | &nbsp;&nbsp; 2514618 |
| **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** | **Auto Manufacturers — 0.9%** |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 3276 | &nbsp;&nbsp; 1318623 |
| **Banks — 3.0%** | **Banks — 3.0%** | **Banks — 3.0%** |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | 7614 | &nbsp;&nbsp; 1267807 |
| &nbsp;&nbsp;&nbsp; US Bancorp | 11972 | &nbsp;&nbsp; 654390 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | 30771 | &nbsp;&nbsp; 2506298 |
|  |  | &nbsp;&nbsp; 4428495 |
| **Biotechnology — 0.9%** | **Biotechnology — 0.9%** | **Biotechnology — 0.9%** |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 882 | &nbsp;&nbsp; 689433 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 1411 | &nbsp;&nbsp; 701027 |
|  |  | &nbsp;&nbsp; 1390460 |
| **Building Materials — 2.1%** | **Building Materials — 2.1%** | **Building Materials — 2.1%** |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | 6770 | &nbsp;&nbsp; 435988 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 3055 | &nbsp;&nbsp; 1412388 |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | 3935 | &nbsp;&nbsp; 1219850 |
|  |  | &nbsp;&nbsp; 3068226 |
| **Commercial Services — 0.5%** | **Commercial Services — 0.5%** | **Commercial Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. | 816 | &nbsp;&nbsp; 685440 |
| **Computers — 4.3%** | **Computers — 4.3%** | **Computers — 4.3%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 23860 | &nbsp;&nbsp; 6303335 |
| **Diversified Financial Services — 3.2%** | **Diversified Financial Services — 3.2%** | **Diversified Financial Services — 3.2%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | 6265 | &nbsp;&nbsp; 1935258 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 867 | &nbsp;&nbsp; 407594 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 4571 | &nbsp;&nbsp; 2364167 |
|  |  | &nbsp;&nbsp; 4707019 |
| **Electric — 2.3%** | **Electric — 2.3%** | **Electric — 2.3%** |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | 7558 | &nbsp;&nbsp; 809538 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | 21300 | &nbsp;&nbsp; 1997301 |
| &nbsp;&nbsp;&nbsp; Southern Co. | 6440 | &nbsp;&nbsp; 627127 |
|  |  | &nbsp;&nbsp; 3433966 |
| **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 3689 | &nbsp;&nbsp; 1386769 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 6581 | &nbsp;&nbsp; 961221 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | 11986 | &nbsp;&nbsp; 738098 |
| **Healthcare-Products — 2.7%** | **Healthcare-Products — 2.7%** | **Healthcare-Products — 2.7%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 6069 | &nbsp;&nbsp; 466403 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.† | 9787 | &nbsp;&nbsp; 846282 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 12378 | &nbsp;&nbsp; 1208835 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 3568 | &nbsp;&nbsp; 1382457 |
|  |  | &nbsp;&nbsp; 3903977 |
| **Insurance — 1.6%** | **Insurance — 1.6%** | **Insurance — 1.6%** |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 6435 | &nbsp;&nbsp; 1468467 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 3850 | &nbsp;&nbsp; 822591 |
|  |  | &nbsp;&nbsp; 2291058 |
| **Internet — 8.2%** | **Internet — 8.2%** | **Internet — 8.2%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 14174 | &nbsp;&nbsp; 4418886 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 19967 | &nbsp;&nbsp; 4193070 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 2272 | &nbsp;&nbsp; $400940 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 4813 | &nbsp;&nbsp; 3119690 |
|  |  | &nbsp;&nbsp; 12132586 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | 1330 | &nbsp;&nbsp; 454501 |
| **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** |
| &nbsp;&nbsp;&nbsp; Deere & Co. | 1387 | &nbsp;&nbsp; 873408 |
| **Media — 1.2%** | **Media — 1.2%** | **Media — 1.2%** |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 16475 | &nbsp;&nbsp; 1747009 |
| **Oil & Gas Services — 1.7%** | **Oil & Gas Services — 1.7%** | **Oil & Gas Services — 1.7%** |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | 37554 | &nbsp;&nbsp; 2450774 |
| **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 6399 | &nbsp;&nbsp; 1485080 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 1563 | &nbsp;&nbsp; 1644260 |
|  |  | &nbsp;&nbsp; 3129340 |
| **Private Equity — 0.8%** | **Private Equity — 0.8%** | **Private Equity — 0.8%** |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | 10774 | &nbsp;&nbsp; 1221448 |
| **REITS — 0.5%** | **REITS — 0.5%** | **REITS — 0.5%** |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | 5191 | &nbsp;&nbsp; 740081 |
| **Retail — 4.8%** | **Retail — 4.8%** | **Retail — 4.8%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 182 | &nbsp;&nbsp; 683515 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.† | 11024 | &nbsp;&nbsp; 410313 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | 8717 | &nbsp;&nbsp; 2306257 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 5831 | &nbsp;&nbsp; 1988721 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 12503 | &nbsp;&nbsp; 1599759 |
|  |  | &nbsp;&nbsp; 6988565 |
| **Semiconductors — 8.9%** | **Semiconductors — 8.9%** | **Semiconductors — 8.9%** |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 448 | &nbsp;&nbsp; 649851 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 8422 | &nbsp;&nbsp; 2691250 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 1688 | &nbsp;&nbsp; 696080 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 41526 | &nbsp;&nbsp; 7357992 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 7692 | &nbsp;&nbsp; 1746161 |
|  |  | &nbsp;&nbsp; 13141334 |
| **Software — 5.1%** | **Software — 5.1%** | **Software — 5.1%** |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 2412 | &nbsp;&nbsp; 986581 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 12203 | &nbsp;&nbsp; 4792606 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 8248 | &nbsp;&nbsp; 1199259 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 4591 | &nbsp;&nbsp; 495874 |
|  |  | &nbsp;&nbsp; 7474320 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $70,520,230)<br>|  | &nbsp;&nbsp; 87484671 |
| **CORPORATE BONDS & NOTES — 10.8%** | **CORPORATE BONDS & NOTES — 10.8%** | **CORPORATE BONDS & NOTES — 10.8%** |
| **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |
| &nbsp;&nbsp;&nbsp; Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 11/01/2028 | $19000 | &nbsp;&nbsp; 18784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 05/01/2034 | 25000 | &nbsp;&nbsp; 28029 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/2031 | 40000 | &nbsp;&nbsp; 41915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/31/2033 | 28000 | &nbsp;&nbsp; 29499 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/15/2045 | 68000 | &nbsp;&nbsp; 55519 |
| &nbsp;&nbsp;&nbsp; RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/27/2033 | 23000 | &nbsp;&nbsp; 24070 |
|  |  | &nbsp;&nbsp; 197816 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Agriculture — 0.1%** | **Agriculture — 0.1%** | **Agriculture — 0.1%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/04/2032 | $50000 | &nbsp;&nbsp; $44873 |
| &nbsp;&nbsp;&nbsp; BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 08/15/2037 | 20000 | &nbsp;&nbsp; 18680 |
| &nbsp;&nbsp;&nbsp; Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 05/14/2031 | 26000 | &nbsp;&nbsp; 24191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/17/2034 | 32000 | &nbsp;&nbsp; 31869 |
|  |  | &nbsp;&nbsp; 119613 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| &nbsp;&nbsp;&nbsp; American Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/15/2030 | 46468 | &nbsp;&nbsp; 45338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 01/11/2032 | 71240 | &nbsp;&nbsp; 69217 |
| &nbsp;&nbsp;&nbsp; Delta Air Lines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 12/10/2029 | 53321 | &nbsp;&nbsp; 51531 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 04/07/2030 | 21077 | &nbsp;&nbsp; 20336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/01/2029 | 21239 | &nbsp;&nbsp; 20798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 09/01/2031 | 29277 | &nbsp;&nbsp; 28201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/2038 | 136263 | &nbsp;&nbsp; 142492 |
|  |  | &nbsp;&nbsp; 377913 |
| **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** | **Auto Manufacturers — 0.2%** |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/15/2027\* | 120000 | &nbsp;&nbsp; 116999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/10/2027\*# | 200000 | &nbsp;&nbsp; 198244 |
|  |  | &nbsp;&nbsp; 315243 |
| **Banks — 3.5%** | **Banks — 3.5%** | **Banks — 3.5%** |
| &nbsp;&nbsp;&nbsp; Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 08/08/2028 | 200000 | &nbsp;&nbsp; 207306 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 02/04/2028 | 25000 | &nbsp;&nbsp; 24675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 10/20/2032 | 40000 | &nbsp;&nbsp; 36441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.68%, 06/19/2041 | 144000 | &nbsp;&nbsp; 107031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 02/04/2033 | 30000 | &nbsp;&nbsp; 27732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/06/2037 | 35000 | &nbsp;&nbsp; 35505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 01/24/2036 | 40000 | &nbsp;&nbsp; 41984 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.47%, 10/25/2034 | 30000 | &nbsp;&nbsp; 33631 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 02/02/2034 | 65000 | &nbsp;&nbsp; 65749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/01/2030 | 11000 | &nbsp;&nbsp; 11323 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 01/09/2030\* | 200000 | &nbsp;&nbsp; 205707 |
| &nbsp;&nbsp;&nbsp; BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 01/13/2032\* | 250000 | &nbsp;&nbsp; 252151 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.06%, 01/25/2033 | 88000 | &nbsp;&nbsp; 81374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/11/2031 | 25000 | &nbsp;&nbsp; 25191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 09/19/2030 | 69000 | &nbsp;&nbsp; 69814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 09/11/2036 | 25000 | &nbsp;&nbsp; 25436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/11/2035 | 50000 | &nbsp;&nbsp; 52148 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 10/02/2030\* | 200000 | &nbsp;&nbsp; 202621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 03/04/2031\* | 200000 | &nbsp;&nbsp; 205612 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/07/2028# | 150000 | &nbsp;&nbsp; 148120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 01/10/2029 | 150000 | &nbsp;&nbsp; 153299 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/29/2037 | 30000 | &nbsp;&nbsp; 30092 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 10/21/2027 | 25000 | &nbsp;&nbsp; 24664 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/21/2032 | $15000 | &nbsp;&nbsp; $13529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 02/24/2028 | 37000 | &nbsp;&nbsp; 36494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 01/21/2032 | 60000 | &nbsp;&nbsp; 60371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 10/21/2036 | 60000 | &nbsp;&nbsp; 59787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/23/2030 | 45000 | &nbsp;&nbsp; 46165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/21/2037 | 40000 | &nbsp;&nbsp; 40281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 04/23/2031 | 52000 | &nbsp;&nbsp; 53831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 07/23/2035 | 95000 | &nbsp;&nbsp; 98062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/28/2036 | 20000 | &nbsp;&nbsp; 20917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/24/2029 | 40000 | &nbsp;&nbsp; 42345 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 01/14/2042 | 95000 | &nbsp;&nbsp; 103792 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 01/15/2031 | 30000 | &nbsp;&nbsp; 31056 |
| &nbsp;&nbsp;&nbsp; KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/06/2027 | 140000 | &nbsp;&nbsp; 137443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 04/04/2031# | 95000 | &nbsp;&nbsp; 97457 |
| &nbsp;&nbsp;&nbsp; Macquarie Group, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.87%, 01/14/2033\* | 100000 | &nbsp;&nbsp; 91531 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 03/07/2029 | 130000 | &nbsp;&nbsp; 129636 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 05/27/2031 | 250000 | &nbsp;&nbsp; 264950 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/23/2027 | 150000 | &nbsp;&nbsp; 149938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 04/22/2039# | 110000 | &nbsp;&nbsp; 104084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 10/22/2036 | 10000 | &nbsp;&nbsp; 9949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/19/2030 | 10000 | &nbsp;&nbsp; 10289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/30/2037 | 30000 | &nbsp;&nbsp; 30256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/19/2035 | 15000 | &nbsp;&nbsp; 15532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 04/18/2030 | 40000 | &nbsp;&nbsp; 41778 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 10/21/2032 | 30000 | &nbsp;&nbsp; 30674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/24/2034 | 37000 | &nbsp;&nbsp; 38235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 07/21/2036 | 45000 | &nbsp;&nbsp; 46655 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/2030 | 45000 | &nbsp;&nbsp; 45906 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 01/09/2030 | 40000 | &nbsp;&nbsp; 41773 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.69%, 01/10/2034\* | 200000 | &nbsp;&nbsp; 219625 |
| &nbsp;&nbsp;&nbsp; State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 10/23/2036 | 20000 | &nbsp;&nbsp; 19986 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/30/2032 | 30000 | &nbsp;&nbsp; 31577 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/23/2036 | 40000 | &nbsp;&nbsp; 39943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 05/20/2031 | 80000 | &nbsp;&nbsp; 82569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 01/26/2034 | 20000 | &nbsp;&nbsp; 20514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 01/24/2035 | 17000 | &nbsp;&nbsp; 18038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 06/08/2027 | 20000 | &nbsp;&nbsp; 20100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.16%, 10/30/2029 | 22000 | &nbsp;&nbsp; 23684 |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 11/06/2033\* | 200000 | &nbsp;&nbsp; 201677 |
| &nbsp;&nbsp;&nbsp; US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 05/15/2031 | 35000 | &nbsp;&nbsp; 36208 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 04/30/2041 | 69000 | &nbsp;&nbsp; 53867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 04/25/2053 | 80000 | &nbsp;&nbsp; 68977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 01/23/2037 | 90000 | &nbsp;&nbsp; 90342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/23/2030 | 15000 | &nbsp;&nbsp; 15464 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 12/03/2035 | $60000 | &nbsp;&nbsp; $61608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/23/2035 | 100000 | &nbsp;&nbsp; 104751 |
|  |  | &nbsp;&nbsp; 5069252 |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/02/2053 | 81000 | &nbsp;&nbsp; 80856 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/2035# | 25000 | &nbsp;&nbsp; 26659 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 10/01/2040 | 63000 | &nbsp;&nbsp; 47192 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/15/2030 | 56000 | &nbsp;&nbsp; 50476 |
|  |  | &nbsp;&nbsp; 205183 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp; EIDP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/2032 | 45000 | &nbsp;&nbsp; 46760 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/01/2030\* | 100000 | &nbsp;&nbsp; 91192 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/2032 | 37000 | &nbsp;&nbsp; 34019 |
|  |  | &nbsp;&nbsp; 171971 |
| **Commercial Services — 0.2%** | **Commercial Services — 0.2%** | **Commercial Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 03/25/2030\* | 40000 | &nbsp;&nbsp; 41003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.32%, 12/04/2028\* | 30000 | &nbsp;&nbsp; 31652 |
| &nbsp;&nbsp;&nbsp; ERAC USA Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 10/30/2034\* | 20000 | &nbsp;&nbsp; 20793 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 08/15/2029 | 27000 | &nbsp;&nbsp; 25892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/15/2035 | 70000 | &nbsp;&nbsp; 69630 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/09/2035# | 30000 | &nbsp;&nbsp; 30549 |
|  |  | &nbsp;&nbsp; 219519 |
| **Computers — 0.2%** | **Computers — 0.2%** | **Computers — 0.2%** |
| &nbsp;&nbsp;&nbsp; Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/04/2034 | 13000 | &nbsp;&nbsp; 12860 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/05/2051 | 130000 | &nbsp;&nbsp; 82679 |
| &nbsp;&nbsp;&nbsp; CGI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 09/14/2031 | 42000 | &nbsp;&nbsp; 37414 |
| &nbsp;&nbsp;&nbsp; Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/2032 | 70000 | &nbsp;&nbsp; 72699 |
| &nbsp;&nbsp;&nbsp; Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/15/2031 | 141000 | &nbsp;&nbsp; 128091 |
|  |  | &nbsp;&nbsp; 333743 |
| **Diversified Financial Services — 0.5%** | **Diversified Financial Services — 0.5%** | **Diversified Financial Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 01/30/2032 | 150000 | &nbsp;&nbsp; 140175 |
| &nbsp;&nbsp;&nbsp; Aircastle, Ltd./Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/2030\* | 150000 | &nbsp;&nbsp; 154840 |
| &nbsp;&nbsp;&nbsp; American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/24/2036 | 20000 | &nbsp;&nbsp; 19808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 07/20/2033 | 15000 | &nbsp;&nbsp; 15366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 01/30/2036 | 30000 | &nbsp;&nbsp; 31266 |
| &nbsp;&nbsp;&nbsp; Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/10/2030\* | 25000 | &nbsp;&nbsp; 25685 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 11/18/2027\* | 17000 | &nbsp;&nbsp; 16552 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/2029\* | $15000 | &nbsp;&nbsp; $14960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/30/2031\* | 25000 | &nbsp;&nbsp; 25087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/01/2033\* | 30000 | &nbsp;&nbsp; 29735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/2028\* | 28000 | &nbsp;&nbsp; 28372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/2030\* | 30000 | &nbsp;&nbsp; 30722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2029\* | 10000 | &nbsp;&nbsp; 10403 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 01/31/2028 | 94000 | &nbsp;&nbsp; 93733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/30/2037 | 60000 | &nbsp;&nbsp; 60545 |
| &nbsp;&nbsp;&nbsp; Macquarie Airfinance Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/17/2030\* | 20000 | &nbsp;&nbsp; 20435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/27/2028\* | 25000 | &nbsp;&nbsp; 25418 |
| &nbsp;&nbsp;&nbsp; Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/2034 | 14000 | &nbsp;&nbsp; 14755 |
|  |  | &nbsp;&nbsp; 757857 |
| **Electric — 1.5%** | **Electric — 1.5%** | **Electric — 1.5%** |
| &nbsp;&nbsp;&nbsp; AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/2032 | 40000 | &nbsp;&nbsp; 41785 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/01/2054 | 30000 | &nbsp;&nbsp; 30325 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/01/2033 | 6000 | &nbsp;&nbsp; 6435 |
| &nbsp;&nbsp;&nbsp; Consumers 2023 Securitization Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 09/01/2031 | 108000 | &nbsp;&nbsp; 111803 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/2055 | 25000 | &nbsp;&nbsp; 24510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 09/15/2053 | 30000 | &nbsp;&nbsp; 31034 |
| &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/15/2052 | 34000 | &nbsp;&nbsp; 35619 |
| &nbsp;&nbsp;&nbsp; Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/2027 | 17000 | &nbsp;&nbsp; 17261 |
| &nbsp;&nbsp;&nbsp; Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/2046 | 174000 | &nbsp;&nbsp; 150441 |
| &nbsp;&nbsp;&nbsp; Evergy Metro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/01/2034# | 71000 | &nbsp;&nbsp; 74897 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/15/2029 | 80000 | &nbsp;&nbsp; 76889 |
| &nbsp;&nbsp;&nbsp; Fells Point Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 01/31/2027\* | 100000 | &nbsp;&nbsp; 99099 |
| &nbsp;&nbsp;&nbsp; ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/01/2043 | 25000 | &nbsp;&nbsp; 24142 |
| &nbsp;&nbsp;&nbsp; Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/2035 | 15000 | &nbsp;&nbsp; 15406 |
| &nbsp;&nbsp;&nbsp; MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/15/2054 | 20000 | &nbsp;&nbsp; 20838 |
| &nbsp;&nbsp;&nbsp; New England Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.81%, 10/06/2050\* | 58000 | &nbsp;&nbsp; 36331 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/2054 | 60000 | &nbsp;&nbsp; 58215 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 12/02/2027\* | 308000 | &nbsp;&nbsp; 298402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 10/15/2035\* | 45000 | &nbsp;&nbsp; 45480 |
| &nbsp;&nbsp;&nbsp; Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/2045 | 10000 | &nbsp;&nbsp; 8096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/15/2034 | 66000 | &nbsp;&nbsp; 69635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 10/01/2054 | 5000 | &nbsp;&nbsp; 4866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/2035 | 80000 | &nbsp;&nbsp; 85241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/15/2033 | 57000 | &nbsp;&nbsp; 62104 |
| &nbsp;&nbsp;&nbsp; PG&E Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 06/01/2042 | 255000 | &nbsp;&nbsp; 262726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 06/01/2051 | 30000 | &nbsp;&nbsp; 31019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 07/15/2049 | 30000 | &nbsp;&nbsp; 30776 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; PG&E Wildfire Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 06/01/2038 | $20000 | &nbsp;&nbsp; $19832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/01/2054 | 30000 | &nbsp;&nbsp; 28736 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/2035 | 10000 | &nbsp;&nbsp; 10213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/2033 | 40000 | &nbsp;&nbsp; 41432 |
| &nbsp;&nbsp;&nbsp; Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 03/15/2035 | 15000 | &nbsp;&nbsp; 15520 |
| &nbsp;&nbsp;&nbsp; SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 06/15/2042 | 21984 | &nbsp;&nbsp; 22156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 03/15/2047 | 25000 | &nbsp;&nbsp; 25674 |
| &nbsp;&nbsp;&nbsp; Sigeco Securitization I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 11/15/2038 | 20663 | &nbsp;&nbsp; 21294 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/2031 | 60000 | &nbsp;&nbsp; 62856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/01/2055 | 20000 | &nbsp;&nbsp; 19710 |
| &nbsp;&nbsp;&nbsp; Southern Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/2033 | 54000 | &nbsp;&nbsp; 55930 |
| &nbsp;&nbsp;&nbsp; Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/2052 | 27000 | &nbsp;&nbsp; 21004 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/15/2035\* | 38000 | &nbsp;&nbsp; 38080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/31/2036\* | 20000 | &nbsp;&nbsp; 20138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/30/2034\* | 15000 | &nbsp;&nbsp; 15545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/2034\* | 4000 | &nbsp;&nbsp; 4240 |
|  |  | &nbsp;&nbsp; 2175735 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.30%, 11/15/2055 | 40000 | &nbsp;&nbsp; 38733 |
| **Food — 0.3%** | **Food — 0.3%** | **Food — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JBS NV/JBS USA Foods Group Holdings, Inc./JBS USA <br> Food Co. Holdings<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/2036 | 35000 | &nbsp;&nbsp; 35917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/20/2035 | 15000 | &nbsp;&nbsp; 15904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/15/2066 | 40000 | &nbsp;&nbsp; 40714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JBS USA Holding LUX SARL/JBS USA Food Co./JBS LUX <br> Co. SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/2031 | 25000 | &nbsp;&nbsp; 23844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/2034 | 47000 | &nbsp;&nbsp; 52399 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/01/2046 | 19000 | &nbsp;&nbsp; 15595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/01/2039 | 40000 | &nbsp;&nbsp; 36640 |
| &nbsp;&nbsp;&nbsp; Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/2034 | 20000 | &nbsp;&nbsp; 20336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/15/2054 | 10000 | &nbsp;&nbsp; 9667 |
| &nbsp;&nbsp;&nbsp; Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/01/2045\* | 55000 | &nbsp;&nbsp; 56286 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/25/2036 | 50000 | &nbsp;&nbsp; 50095 |
| &nbsp;&nbsp;&nbsp; Tyson Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 06/02/2027 | 44000 | &nbsp;&nbsp; 43795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/15/2034 | 30000 | &nbsp;&nbsp; 31922 |
|  |  | &nbsp;&nbsp; 433114 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp; Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 02/15/2052 | 35000 | &nbsp;&nbsp; 22551 |
| &nbsp;&nbsp;&nbsp; Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 11/15/2052 | 25000 | &nbsp;&nbsp; 27248 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Gas (continued)** | **Gas (continued)** | **Gas (continued)** |
| &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/2035 | $15000 | &nbsp;&nbsp; $15277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/2033 | 20000 | &nbsp;&nbsp; 21355 |
|  |  | &nbsp;&nbsp; 86431 |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/23/2034 | 37000 | &nbsp;&nbsp; 38685 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/12/2036 | 35000 | &nbsp;&nbsp; 35607 |
|  |  | &nbsp;&nbsp; 74292 |
| **Healthcare-Services — 0.2%** | **Healthcare-Services — 0.2%** | **Healthcare-Services — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/2040 | 53000 | &nbsp;&nbsp; 42358 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/15/2051 | 7000 | &nbsp;&nbsp; 4832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/2032 | 12000 | &nbsp;&nbsp; 11434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/15/2035 | 10000 | &nbsp;&nbsp; 9958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/2034 | 45000 | &nbsp;&nbsp; 46724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/2047 | 10000 | &nbsp;&nbsp; 9534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2035 | 28000 | &nbsp;&nbsp; 29640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/15/2054 | 15000 | &nbsp;&nbsp; 14930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/01/2064 | 55000 | &nbsp;&nbsp; 55062 |
| &nbsp;&nbsp;&nbsp; MedStar Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 08/15/2049 | 46000 | &nbsp;&nbsp; 34292 |
| &nbsp;&nbsp;&nbsp; Piedmont Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.86%, 01/01/2052 | 25000 | &nbsp;&nbsp; 16094 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/2053 | 20000 | &nbsp;&nbsp; 20340 |
|  |  | &nbsp;&nbsp; 295198 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| &nbsp;&nbsp;&nbsp; Lennar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 06/15/2027 | 50000 | &nbsp;&nbsp; 50364 |
| **Insurance — 0.3%** | **Insurance — 0.3%** | **Insurance — 0.3%** |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/15/2052 | 25000 | &nbsp;&nbsp; 19430 |
| &nbsp;&nbsp;&nbsp; CNO Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/04/2027\* | 100000 | &nbsp;&nbsp; 101948 |
| &nbsp;&nbsp;&nbsp; Empower Finance 2020 LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.08%, 09/17/2051\* | 68000 | &nbsp;&nbsp; 45441 |
| &nbsp;&nbsp;&nbsp; F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/04/2029 | 30000 | &nbsp;&nbsp; 30880 |
| &nbsp;&nbsp;&nbsp; F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 06/30/2026\* | 25000 | &nbsp;&nbsp; 24788 |
| &nbsp;&nbsp;&nbsp; New York Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/15/2050\* | 68000 | &nbsp;&nbsp; 51345 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 05/28/2031\* | 80000 | &nbsp;&nbsp; 83465 |
| &nbsp;&nbsp;&nbsp; Teachers Insurance & Annuity Association of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 05/15/2050\* | 58000 | &nbsp;&nbsp; 40325 |
|  |  | &nbsp;&nbsp; 397622 |
| **Internet — 0.2%** | **Internet — 0.2%** | **Internet — 0.2%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/2046 | 20000 | &nbsp;&nbsp; 20366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/15/2056 | 30000 | &nbsp;&nbsp; 30698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/2066 | 20000 | &nbsp;&nbsp; 20367 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/13/2052 | 50000 | &nbsp;&nbsp; 39533 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2035 | 50000 | &nbsp;&nbsp; 50498 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/2054 | $20000 | &nbsp;&nbsp; $18883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2045 | 50000 | &nbsp;&nbsp; 49398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/15/2053 | 35000 | &nbsp;&nbsp; 34077 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/2034 | 20000 | &nbsp;&nbsp; 20058 |
|  |  | &nbsp;&nbsp; 283878 |
| **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** |
| &nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.65%, 10/15/2027 | 56000 | &nbsp;&nbsp; 54043 |
| **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.11%, 02/15/2040 | 67000 | &nbsp;&nbsp; 53733 |
| **Media — 0.3%** | **Media — 0.3%** | **Media — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 04/01/2031 | 50000 | &nbsp;&nbsp; 45451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/2041 | 35000 | &nbsp;&nbsp; 25214 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/01/2039 | 154000 | &nbsp;&nbsp; 122938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 01/15/2037\* | 29000 | &nbsp;&nbsp; 29199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/2034 | 50000 | &nbsp;&nbsp; 52240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/2053 | 100000 | &nbsp;&nbsp; 92110 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/15/2040 | 30000 | &nbsp;&nbsp; 28140 |
|  |  | &nbsp;&nbsp; 395292 |
| **Mining — 0.1%** | **Mining — 0.1%** | **Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/2030\* | 75000 | &nbsp;&nbsp; 69533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/04/2034\* | 30000 | &nbsp;&nbsp; 31728 |
|  |  | &nbsp;&nbsp; 101261 |
| **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** | **Miscellaneous Manufacturing — 0.0%** |
| &nbsp;&nbsp;&nbsp; Eaton Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.15%, 11/02/2042 | 30000 | &nbsp;&nbsp; 26581 |
| **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.77%, 11/10/2050 | 145000 | &nbsp;&nbsp; 92001 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/2055# | 25000 | &nbsp;&nbsp; 24551 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 05/15/2027 | 46000 | &nbsp;&nbsp; 45947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/2035 | 30000 | &nbsp;&nbsp; 30937 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/2054 | 11000 | &nbsp;&nbsp; 10719 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/16/2039 | 86000 | &nbsp;&nbsp; 70344 |
| &nbsp;&nbsp;&nbsp; Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 01/15/2031 | 20000 | &nbsp;&nbsp; 18407 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital International SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 06/29/2041 | 58000 | &nbsp;&nbsp; 44756 |
|  |  | &nbsp;&nbsp; 337662 |
| **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** | **Pharmaceuticals — 0.3%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/2036 | 45000 | &nbsp;&nbsp; 45236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/2034 | 50000 | &nbsp;&nbsp; 51909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/2056 | 50000 | &nbsp;&nbsp; 50308 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 03/15/2052 | 17000 | &nbsp;&nbsp; 12700 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/15/2039 | $48000 | &nbsp;&nbsp; $44122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/26/2049 | 61000 | &nbsp;&nbsp; 50745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/22/2054 | 2000 | &nbsp;&nbsp; 1984 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 03/01/2045 | 50000 | &nbsp;&nbsp; 43279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/2034 | 80000 | &nbsp;&nbsp; 82985 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 12/10/2061 | 30000 | &nbsp;&nbsp; 17792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/07/2049 | 20000 | &nbsp;&nbsp; 16285 |
| &nbsp;&nbsp;&nbsp; Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 05/19/2063 | 50000 | &nbsp;&nbsp; 46923 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 11/16/2032 | 41000 | &nbsp;&nbsp; 43968 |
|  |  | &nbsp;&nbsp; 508236 |
| **Pipelines — 0.4%** | **Pipelines — 0.4%** | **Pipelines — 0.4%** |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/30/2035# | 15000 | &nbsp;&nbsp; 15566 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/15/2034 | 20000 | &nbsp;&nbsp; 21031 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 10/01/2031\* | 11000 | &nbsp;&nbsp; 11316 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 02/15/2035\* | 75000 | &nbsp;&nbsp; 78118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.96%, 02/15/2055\* | 50000 | &nbsp;&nbsp; 50778 |
| &nbsp;&nbsp;&nbsp; Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 01/15/2055 | 20000 | &nbsp;&nbsp; 21262 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 04/05/2034 | 30000 | &nbsp;&nbsp; 31756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/08/2033 | 30000 | &nbsp;&nbsp; 31885 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/01/2029 | 50000 | &nbsp;&nbsp; 51845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/15/2048 | 35000 | &nbsp;&nbsp; 34521 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/15/2043 | 50000 | &nbsp;&nbsp; 44738 |
| &nbsp;&nbsp;&nbsp; Gray Oak Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/15/2027\* | 41000 | &nbsp;&nbsp; 40557 |
| &nbsp;&nbsp;&nbsp; NGPL PipeCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/2031\* | 25000 | &nbsp;&nbsp; 23448 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2031 | 55000 | &nbsp;&nbsp; 55789 |
| &nbsp;&nbsp;&nbsp; South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 09/01/2027 | 10000 | &nbsp;&nbsp; 10108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/01/2029 | 10000 | &nbsp;&nbsp; 10225 |
| &nbsp;&nbsp;&nbsp; TransCanada PipeLines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 04/15/2030 | 37000 | &nbsp;&nbsp; 36939 |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/2050# | 10000 | &nbsp;&nbsp; 8685 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/2035 | 25000 | &nbsp;&nbsp; 26273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/2055 | 10000 | &nbsp;&nbsp; 10259 |
|  |  | &nbsp;&nbsp; 615099 |
| **REITS — 0.5%** | **REITS — 0.5%** | **REITS — 0.5%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 01/15/2051 | 57000 | &nbsp;&nbsp; 36829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 06/15/2050 | 88000 | &nbsp;&nbsp; 59109 |
| &nbsp;&nbsp;&nbsp; Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 04/01/2028 | 30000 | &nbsp;&nbsp; 28957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/16/2031 | 15000 | &nbsp;&nbsp; 13637 |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 04/15/2031 | 36000 | &nbsp;&nbsp; 33246 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/01/2034 | $20000 | &nbsp;&nbsp; $21184 |
| &nbsp;&nbsp;&nbsp; CubeSmart LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 02/15/2031 | 85000 | &nbsp;&nbsp; 76025 |
| &nbsp;&nbsp;&nbsp; DOC DR LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 11/01/2031 | 15000 | &nbsp;&nbsp; 13638 |
| &nbsp;&nbsp;&nbsp; Equinix Europe 2 Financing Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 11/15/2030 | 50000 | &nbsp;&nbsp; 50596 |
| &nbsp;&nbsp;&nbsp; Goodman US Finance Six LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/07/2034\* | 15000 | &nbsp;&nbsp; 15269 |
| &nbsp;&nbsp;&nbsp; Healthpeak OP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.13%, 12/01/2028 | 38000 | &nbsp;&nbsp; 36145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 01/15/2031 | 56000 | &nbsp;&nbsp; 52450 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/2034 | 30000 | &nbsp;&nbsp; 31361 |
| &nbsp;&nbsp;&nbsp; Safehold GL Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/15/2032 | 46000 | &nbsp;&nbsp; 42045 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 08/01/2032 | 57000 | &nbsp;&nbsp; 49606 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 02/01/2031 | 141000 | &nbsp;&nbsp; 128662 |
|  |  | &nbsp;&nbsp; 688759 |
| **Retail — 0.1%** | **Retail — 0.1%** | **Retail — 0.1%** |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 04/15/2052 | 25000 | &nbsp;&nbsp; 18591 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/2033 | 50000 | &nbsp;&nbsp; 51280 |
|  |  | &nbsp;&nbsp; 69871 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 10/01/2041 | 26000 | &nbsp;&nbsp; 19582 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 11/15/2036\* | 10000 | &nbsp;&nbsp; 8627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/15/2032 | 87000 | &nbsp;&nbsp; 88175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/2036 | 10000 | &nbsp;&nbsp; 10025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/2029 | 100000 | &nbsp;&nbsp; 103468 |
| &nbsp;&nbsp;&nbsp; Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/2049 | 20000 | &nbsp;&nbsp; 13094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 12/08/2047 | 15000 | &nbsp;&nbsp; 10859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/10/2053 | 28000 | &nbsp;&nbsp; 26593 |
| &nbsp;&nbsp;&nbsp; KLA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 03/01/2050 | 105000 | &nbsp;&nbsp; 74560 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/15/2031 | 40000 | &nbsp;&nbsp; 37387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/2035# | 67000 | &nbsp;&nbsp; 69749 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/2031 | 16000 | &nbsp;&nbsp; 16805 |
| &nbsp;&nbsp;&nbsp; NXP BV/NXP Funding LLC/NXP USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 05/11/2041 | 40000 | &nbsp;&nbsp; 30767 |
|  |  | &nbsp;&nbsp; 509691 |
| **Software — 0.4%** | **Software — 0.4%** | **Software — 0.4%** |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 09/10/2034 | 42000 | &nbsp;&nbsp; 42364 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/12/2034 | 25000 | &nbsp;&nbsp; 24927 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 03/25/2041 | 70000 | &nbsp;&nbsp; 51990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/2037 | 70000 | &nbsp;&nbsp; 57569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/25/2051 | 10000 | &nbsp;&nbsp; 6620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/06/2033 | 40000 | &nbsp;&nbsp; 39104 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/04/2036 | $25000 | &nbsp;&nbsp; $25014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 02/04/2046 | 10000 | &nbsp;&nbsp; 9745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 02/04/2056 | 40000 | &nbsp;&nbsp; 38790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 02/04/2066 | 20000 | &nbsp;&nbsp; 19160 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 02/15/2031 | 29000 | &nbsp;&nbsp; 25475 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/2055 | 35000 | &nbsp;&nbsp; 34980 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 04/14/2027 | 52000 | &nbsp;&nbsp; 51861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/12/2029 | 70000 | &nbsp;&nbsp; 72554 |
| &nbsp;&nbsp;&nbsp; VMware, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/15/2030 | 94000 | &nbsp;&nbsp; 96105 |
| &nbsp;&nbsp;&nbsp; Workday, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/01/2027 | 35000 | &nbsp;&nbsp; 34810 |
|  |  | &nbsp;&nbsp; 631068 |
| **Telecommunications — 0.1%** | **Telecommunications — 0.1%** | **Telecommunications — 0.1%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/15/2055 | 30000 | &nbsp;&nbsp; 20311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/30/2036 | 60000 | &nbsp;&nbsp; 60884 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 10/15/2052 | 45000 | &nbsp;&nbsp; 30689 |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/28/2054# | 50000 | &nbsp;&nbsp; 49321 |
|  |  | &nbsp;&nbsp; 161205 |
| **Transportation — 0.0%** | **Transportation — 0.0%** | **Transportation — 0.0%** |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.70%, 05/01/2048 | 22000 | &nbsp;&nbsp; 20001 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.90%, 10/10/2030\* | 10000 | &nbsp;&nbsp; 10142 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $16,548,648)<br>|  | &nbsp;&nbsp; 15786121 |
| **ASSET BACKED SECURITIES — 4.9%** | **ASSET BACKED SECURITIES — 4.9%** | **ASSET BACKED SECURITIES — 4.9%** |
| **Auto Loan Receivables — 2.1%** | **Auto Loan Receivables — 2.1%** | **Auto Loan Receivables — 2.1%** |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1, Class D <br>5.10%, 01/12/2033\*<br>| 100000 | &nbsp;&nbsp; 100970 |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A <br>5.36%, 06/20/2030\*<br>| 135000 | &nbsp;&nbsp; 140308 |
| &nbsp;&nbsp;&nbsp; Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class C <br>4.80%, 08/15/2031<br>| 132000 | &nbsp;&nbsp; 133664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class D <br>5.64%, 11/15/2030<br>| 155000 | &nbsp;&nbsp; 158437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class D <br>6.03%, 11/15/2029<br>| 85000 | &nbsp;&nbsp; 86670 |
| &nbsp;&nbsp;&nbsp; CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class B <br>5.17%, 08/15/2029<br>| 125000 | &nbsp;&nbsp; 127770 |
| &nbsp;&nbsp;&nbsp; Consumer Portfolio Services Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-D, Class C <br>4.85%, 02/17/2032\*<br>| 110000 | &nbsp;&nbsp; 111352 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class B <br>4.85%, 11/15/2034\*<br>| 180000 | &nbsp;&nbsp; 181203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B <br>4.87%, 01/15/2036\*<br>| 160000 | &nbsp;&nbsp; 162221 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5A, Class B <br>6.71%, 02/15/2034\*<br>| $100000 | &nbsp;&nbsp; $101808 |
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class D <br>4.90%, 12/15/2032<br>| 135000 | &nbsp;&nbsp; 136308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class C <br>4.99%, 09/15/2032<br>| 165000 | &nbsp;&nbsp; 167689 |
| &nbsp;&nbsp;&nbsp; DT Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class D <br>6.62%, 02/15/2029\*<br>| 60000 | &nbsp;&nbsp; 61280 |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A, Class C <br>4.57%, 06/16/2031<br>| 200000 | &nbsp;&nbsp; 202072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4A, Class D <br>5.98%, 12/15/2028<br>| 80106 | &nbsp;&nbsp; 80653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5A, Class C <br>6.85%, 01/16/2029<br>| 65000 | &nbsp;&nbsp; 65781 |
| &nbsp;&nbsp;&nbsp; FHF Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class A2 <br>6.57%, 06/15/2028\*<br>| 11416 | &nbsp;&nbsp; 11469 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4A, Class C <br>4.74%, 08/15/2031\*<br>| 115000 | &nbsp;&nbsp; 116609 |
| &nbsp;&nbsp;&nbsp; LAD Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4A, Class C <br>6.76%, 03/15/2029\*<br>| 125000 | &nbsp;&nbsp; 128376 |
| &nbsp;&nbsp;&nbsp; Octane Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C <br>5.90%, 07/20/2032\*<br>| 150000 | &nbsp;&nbsp; 153620 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1, Class C <br>5.09%, 05/15/2030<br>| 55279 | &nbsp;&nbsp; 55607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-6, Class C <br>6.40%, 03/17/2031<br>| 150000 | &nbsp;&nbsp; 155214 |
| &nbsp;&nbsp;&nbsp; SFS Auto Receivables Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C <br>5.51%, 01/20/2032\*<br>| 160000 | &nbsp;&nbsp; 165101 |
| &nbsp;&nbsp;&nbsp; Veros Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class A <br>6.28%, 11/15/2027\*<br>| 12577 | &nbsp;&nbsp; 12605 |
| &nbsp;&nbsp;&nbsp; Westlake Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4A, Class C <br>6.64%, 11/15/2028\*<br>| 120000 | &nbsp;&nbsp; 121992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-4A, Class D <br>7.19%, 07/16/2029\*<br>| 90000 | &nbsp;&nbsp; 93424 |
|  |  | &nbsp;&nbsp; 3032203 |
| **Credit Card Receivables — 0.1%** | **Credit Card Receivables — 0.1%** | **Credit Card Receivables — 0.1%** |
| &nbsp;&nbsp;&nbsp; Continental Finance Credit Card ABS Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A <br>5.78%, 12/15/2032\*<br>| 100000 | &nbsp;&nbsp; 100896 |
| &nbsp;&nbsp;&nbsp; World Financial Network Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A, Class A <br>5.02%, 03/15/2030<br>| 110000 | &nbsp;&nbsp; 110227 |
|  |  | &nbsp;&nbsp; 211123 |
| **Other Asset Backed Securities — 2.7%** | **Other Asset Backed Securities — 2.7%** | **Other Asset Backed Securities — 2.7%** |
| &nbsp;&nbsp;&nbsp; Accelerated LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1H, Class B <br>1.90%, 10/20/2040\*<br>| 15552 | &nbsp;&nbsp; 14658 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Aligned Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A2 <br>1.94%, 08/15/2046\*<br>| $95000 | &nbsp;&nbsp; $93880 |
| &nbsp;&nbsp;&nbsp; AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR2, Class C <br>4.28%, 11/17/2042\*<br>| 116000 | &nbsp;&nbsp; 113159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class D <br>4.29%, 07/17/2041\*(1)<br>| 100000 | &nbsp;&nbsp; 97991 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class B <br>5.56%, 12/19/2050\*<br>| 89489 | &nbsp;&nbsp; 91789 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-AA, Class C <br>3.97%, 07/17/2046\*<br>| 65426 | &nbsp;&nbsp; 63751 |
| &nbsp;&nbsp;&nbsp; Bridge Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class C <br>4.30%, 08/17/2040\*<br>| 115000 | &nbsp;&nbsp; 112420 |
| &nbsp;&nbsp;&nbsp; Business Jet Securities LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A, Class A <br>4.46%, 06/15/2037\*<br>| 42751 | &nbsp;&nbsp; 42636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A <br>5.36%, 09/15/2039\*<br>| 129740 | &nbsp;&nbsp; 131629 |
| &nbsp;&nbsp;&nbsp; Cherry Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class A <br>5.70%, 04/15/2032\*<br>| 100000 | &nbsp;&nbsp; 100684 |
| &nbsp;&nbsp;&nbsp; Elara HGV Timeshare Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A, Class B <br>1.74%, 08/27/2035\*<br>| 22057 | &nbsp;&nbsp; 21230 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR2, Class E1 <br>2.26%, 09/17/2038\*<br>| 155000 | &nbsp;&nbsp; 152759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-SFR1, Class E1 <br>5.00%, 05/19/2039\*<br>| 100000 | &nbsp;&nbsp; 99250 |
| &nbsp;&nbsp;&nbsp; FMC GMSR Issuer Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GT2, Class A <br>3.85%, 10/25/2026\*(2)<br>| 100000 | &nbsp;&nbsp; 97433 |
| &nbsp;&nbsp;&nbsp; Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A <br>4.60%, 03/15/2050\*<br>| 63388 | &nbsp;&nbsp; 63844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class A <br>6.53%, 06/15/2049\*<br>| 61790 | &nbsp;&nbsp; 64682 |
| &nbsp;&nbsp;&nbsp; FRTKL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class A <br>1.57%, 09/17/2038\*<br>| 205000 | &nbsp;&nbsp; 201655 |
| &nbsp;&nbsp;&nbsp; GoodGreen Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-2A, Class A <br>3.26%, 10/15/2053\*<br>| 33996 | &nbsp;&nbsp; 31432 |
| &nbsp;&nbsp;&nbsp; HINNT LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class B <br>5.84%, 03/15/2043\*<br>| 110820 | &nbsp;&nbsp; 113312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class C <br>6.32%, 03/15/2043\*<br>| 49978 | &nbsp;&nbsp; 51134 |
| &nbsp;&nbsp;&nbsp; Home Partners of America Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class C <br>2.40%, 12/17/2026\*<br>| 124734 | &nbsp;&nbsp; 122364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3, Class D <br>3.00%, 01/17/2041\*<br>| 89804 | &nbsp;&nbsp; 85018 |
| &nbsp;&nbsp;&nbsp; Mariner Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-AA, Class A <br>1.86%, 03/20/2036\*<br>| 130000 | &nbsp;&nbsp; 128426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AA, Class A <br>4.98%, 05/20/2038\*<br>| 100000 | &nbsp;&nbsp; 101760 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2A, Class C <br>2.23%, 05/20/2039\*<br>| $35424 | &nbsp;&nbsp; $33885 |
| &nbsp;&nbsp;&nbsp; Oportun Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-B, Class A <br>1.47%, 05/08/2031\*<br>| 39680 | &nbsp;&nbsp; 39002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-A, Class B <br>5.06%, 01/09/2034\*<br>| 100000 | &nbsp;&nbsp; 100584 |
| &nbsp;&nbsp;&nbsp; Pagaya AI Technology in Housing Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1, Class C <br>3.60%, 10/25/2040\*<br>| 125000 | &nbsp;&nbsp; 119344 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR3, Class C <br>3.39%, 07/17/2042\*<br>| 100000 | &nbsp;&nbsp; 94545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class D <br>3.75%, 02/17/2041\*<br>| 155000 | &nbsp;&nbsp; 150492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR5, Class A <br>3.85%, 10/17/2042\*<br>| 299826 | &nbsp;&nbsp; 293953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR5, Class B <br>4.00%, 10/17/2042\*<br>| 299826 | &nbsp;&nbsp; 291676 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR5, Class E1 <br>3.38%, 08/09/2029\*(2)<br>| 130000 | &nbsp;&nbsp; 122159 |
| &nbsp;&nbsp;&nbsp; SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class C <br>6.77%, 08/22/2033\*<br>| 100000 | &nbsp;&nbsp; 104446 |
| &nbsp;&nbsp;&nbsp; Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class C <br>6.36%, 06/20/2040\*<br>| 28458 | &nbsp;&nbsp; 28732 |
| &nbsp;&nbsp;&nbsp; Stream Innovations Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A <br>5.05%, 09/15/2045\*<br>| 74346 | &nbsp;&nbsp; 75611 |
| &nbsp;&nbsp;&nbsp; Verdant Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2 <br>5.68%, 12/12/2031\*<br>| 79450 | &nbsp;&nbsp; 80955 |
| &nbsp;&nbsp;&nbsp; Verizon Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 08/20/2032\* | 250000 | &nbsp;&nbsp; 254190 |
| &nbsp;&nbsp;&nbsp; VOLT XCV LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NPL4, Class A1 <br>6.24%, 03/27/2051\*(1)<br>| 6867 | &nbsp;&nbsp; 6869 |
|  |  | &nbsp;&nbsp; 3993339 |
| &nbsp;&nbsp;&nbsp; **Total Asset Backed Securities** <br>(cost $7,074,586)<br>|  | &nbsp;&nbsp; 7236665 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 3.8%** |
| **Commercial and Residential — 1.3%** | **Commercial and Residential — 1.3%** | **Commercial and Residential — 1.3%** |
| &nbsp;&nbsp;&nbsp; ABL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL1, Class A1 <br>6.08%, 09/25/2029\*(1)<br>| 175000 | &nbsp;&nbsp; 175808 |
| &nbsp;&nbsp;&nbsp; Brean Asset Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RM10, Class A1 <br>5.00%, 01/25/2065\*<br>| 131993 | &nbsp;&nbsp; 132634 |
| &nbsp;&nbsp;&nbsp; BXP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GM, Class A <br>3.38%, 06/13/2039\*<br>| 95000 | &nbsp;&nbsp; 93668 |
| &nbsp;&nbsp;&nbsp; Cascade MH Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-MH1, Class A1 <br>1.75%, 02/25/2046\*<br>| 85738 | &nbsp;&nbsp; 78763 |
| &nbsp;&nbsp;&nbsp; CFMT LLC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HB14, Class M1 <br>3.00%, 06/25/2034\*(2)<br>| 190000 | &nbsp;&nbsp; 185439 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R06, Class 1M2 <br>6.37%, (SOFR30A+2.70%), 07/25/2043\*<br>| $90000 | &nbsp;&nbsp; $92378 |
| &nbsp;&nbsp;&nbsp; GS Mtg. Backed Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SL1, Class A1 <br>5.85%, 11/25/2067\*(2)<br>| 164210 | &nbsp;&nbsp; 166348 |
| &nbsp;&nbsp;&nbsp; Legacy Mtg. Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS1, Class A1 <br>5.89%, 10/25/2066\*(1)<br>| 65101 | &nbsp;&nbsp; 65151 |
| &nbsp;&nbsp;&nbsp; LHOME Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL5, Class A1 <br>5.32%, 09/25/2039\*(1)<br>| 100000 | &nbsp;&nbsp; 100192 |
| &nbsp;&nbsp;&nbsp; MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL3, Class A1 <br>5.91%, 11/25/2039\*(1)<br>| 105000 | &nbsp;&nbsp; 105622 |
| &nbsp;&nbsp;&nbsp; New Residential Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL2, Class A1 <br>5.44%, 09/25/2039\*(1)<br>| 215000 | &nbsp;&nbsp; 217558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL1, Class A1 <br>6.66%, 03/25/2039\*(1)<br>| 175000 | &nbsp;&nbsp; 175435 |
| &nbsp;&nbsp;&nbsp; SLG Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-OVA, Class A <br>2.59%, 07/15/2041\*<br>| 110000 | &nbsp;&nbsp; 100308 |
| &nbsp;&nbsp;&nbsp; Toorak Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RRTL1, Class A1 <br>5.52%, 02/25/2040\*(1)<br>| 100000 | &nbsp;&nbsp; 100647 |
| &nbsp;&nbsp;&nbsp; Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class A1 <br>2.92%, 11/30/2060\*(2)<br>| 195250 | &nbsp;&nbsp; 179883 |
|  |  | &nbsp;&nbsp; 1969834 |
| **U.S. Government Agency — 2.5%** | **U.S. Government Agency — 2.5%** | **U.S. Government Agency — 2.5%** |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-01, Class M7 <br>7.67%, (SOFR30A+4.00%), 11/25/2053\*<br>| 97481 | &nbsp;&nbsp; 100189 |
| &nbsp;&nbsp;&nbsp; FARM Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A <br>5.18%, 08/01/2054\*(2)<br>| 87140 | &nbsp;&nbsp; 82506 |
| &nbsp;&nbsp;&nbsp; Federal Agricultural Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class A <br>2.18%, 01/25/2051\*(2)<br>| 149468 | &nbsp;&nbsp; 124623 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. Multifamily Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-KGX1, Class BFX <br>3.59%, 10/25/2027\*(2)<br>| 65000 | &nbsp;&nbsp; 63326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-K58, Class B <br>3.74%, 09/25/2049\*(2)<br>| 260000 | &nbsp;&nbsp; 258599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-K56, Class B <br>3.93%, 06/25/2049\*(2)<br>| 50000 | &nbsp;&nbsp; 49787 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 03/15/2042 | 83698 | &nbsp;&nbsp; 78789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5174, Class IG <br>3.00%, 01/25/2050(3)<br>| 407895 | &nbsp;&nbsp; 51780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3910, Class CU <br>4.00%, 03/15/2041<br>| 20190 | &nbsp;&nbsp; 20210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/25/2050(3) | 390233 | &nbsp;&nbsp; 79202 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. SCRT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class MT <br>3.00%, 11/25/2063<br>| 209367 | &nbsp;&nbsp; 182050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1, Class MTU <br>3.25%, 11/25/2061<br>| 41190 | &nbsp;&nbsp; 36665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1, Class M60C <br>3.50%, 05/25/2057<br>| 81178 | &nbsp;&nbsp; 76758 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1, Class MT <br>3.50%, 07/25/2058<br>| $40641 | &nbsp;&nbsp; $37528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3, Class MB <br>3.50%, 10/25/2058<br>| 124089 | &nbsp;&nbsp; 106956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class MT <br>3.50%, 05/25/2064<br>| 101332 | &nbsp;&nbsp; 92266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-2, Class M55D <br>4.00%, 11/25/2057<br>| 137276 | &nbsp;&nbsp; 131583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-4, Class M55D <br>4.00%, 03/25/2058<br>| 103012 | &nbsp;&nbsp; 99362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2, Class M55D <br>4.00%, 08/25/2058<br>| 120862 | &nbsp;&nbsp; 115919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-3, Class M55D <br>4.00%, 10/25/2058<br>| 114201 | &nbsp;&nbsp; 109314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4, Class M55D <br>4.00%, 02/25/2059<br>| 41442 | &nbsp;&nbsp; 39521 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. SCRT VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-3, Class M55D <br>4.00%, 08/25/2057(2)<br>| 107310 | &nbsp;&nbsp; 102353 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 09/15/2047 | 66985 | &nbsp;&nbsp; 59613 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. Grantor Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2001-T12, Class A1 <br>6.50%, 08/25/2041<br>| 53751 | &nbsp;&nbsp; 54349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-T4, Class A1 <br>6.50%, 12/25/2041<br>| 6289 | &nbsp;&nbsp; 6522 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-5, Class NC <br>1.50%, 12/25/2032<br>| 87588 | &nbsp;&nbsp; 83685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-72, Class VB <br>3.50%, 10/25/2031<br>| 118315 | &nbsp;&nbsp; 116791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-7, Class CA <br>3.50%, 11/25/2057<br>| 150295 | &nbsp;&nbsp; 147811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-M2, Class A2 <br>3.75%, 08/25/2033<br>| 195000 | &nbsp;&nbsp; 190680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-35, Class VA <br>4.00%, 07/25/2028<br>| 38626 | &nbsp;&nbsp; 38552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-22, Class BI <br>4.00%, 04/25/2051(3)<br>| 398927 | &nbsp;&nbsp; 86075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-W3, Class A4 <br>6.50%, 11/25/2041<br>| 61486 | &nbsp;&nbsp; 62891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-W8, Class A1 <br>6.50%, 06/25/2042<br>| 31342 | &nbsp;&nbsp; 32990 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-M1S, Class A2 <br>2.08%, 04/25/2032(2)<br>| 225000 | &nbsp;&nbsp; 203385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-M8, Class A2 <br>4.48%, 03/25/2033(2)<br>| 110000 | &nbsp;&nbsp; 112946 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-123, Class LB <br>1.00%, 08/20/2050<br>| 142166 | &nbsp;&nbsp; 120779 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-H14, Class YD <br>7.16%, 06/20/2071(2)<br>| 129126 | &nbsp;&nbsp; 118056 |
| &nbsp;&nbsp;&nbsp; Seasoned Loans Structured Transaction Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2, Class A1 <br>3.00%, 10/25/2035<br>| 172518 | &nbsp;&nbsp; 164368 |
|  |  | &nbsp;&nbsp; 3638779 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(cost $5,733,875)<br>|  | &nbsp;&nbsp; 5608613 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 19.2%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 19.2%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 19.2%** |
| **U.S. Government — 10.0%** | **U.S. Government — 10.0%** | **U.S. Government — 10.0%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.13%, 05/15/2040 to 08/15/2040 | $2277000 | &nbsp;&nbsp; $1485594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 11/15/2040 to 08/15/2050 | 1809000 | &nbsp;&nbsp; 1044021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.63%, 11/15/2050 | 800000 | &nbsp;&nbsp; 438969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.88%, 02/15/2051 to 11/15/2051 | 696000 | &nbsp;&nbsp; 403800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.25%, 02/15/2052 | 1308000 | &nbsp;&nbsp; 827463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 08/15/2052 | 530000 | &nbsp;&nbsp; 394809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.13%, 02/15/2043 | 105000 | &nbsp;&nbsp; 87700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.63%, 08/15/2043 | 350000 | &nbsp;&nbsp; 311773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 05/15/2043 | 50000 | &nbsp;&nbsp; 46217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.38%, 08/15/2043 | 237000 | &nbsp;&nbsp; 233121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 11/15/2054 | 75000 | &nbsp;&nbsp; 73271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.75%, 05/15/2055 | 10000 | &nbsp;&nbsp; 10177 |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>Zero Coupon, 02/15/2032 | 2375000 | &nbsp;&nbsp; 1909118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.01%, 05/15/2041 | 450000 | &nbsp;&nbsp; 224050 |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.63%, 05/15/2031# | 590000 | &nbsp;&nbsp; 536209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.75%, 08/15/2032# | 810000 | &nbsp;&nbsp; 766747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.13%, 08/31/2029# | 459000 | &nbsp;&nbsp; 454374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 08/15/2033# | 2910000 | &nbsp;&nbsp; 2931143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 02/15/2034# | 265000 | &nbsp;&nbsp; 268488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 11/15/2034 | 2243000 | &nbsp;&nbsp; 2304420 |
|  |  | &nbsp;&nbsp; 14751464 |
| **U.S. Government Agency — 9.2%** | **U.S. Government Agency — 9.2%** | **U.S. Government Agency — 9.2%** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 02/01/2051 | 142423 | &nbsp;&nbsp; 124575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 01/01/2052 | 86594 | &nbsp;&nbsp; 78625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.45%, 08/01/2032 | 235044 | &nbsp;&nbsp; 228040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 05/01/2042 to 01/01/2050 | 160239 | &nbsp;&nbsp; 154099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.80%, 10/01/2034 | 100000 | &nbsp;&nbsp; 96987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 01/01/2052 | 31148 | &nbsp;&nbsp; 30411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 05/01/2052 | 49812 | &nbsp;&nbsp; 50010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 01/01/2055 | 128289 | &nbsp;&nbsp; 130768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 02/01/2054 | 137866 | &nbsp;&nbsp; 143839 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 01/01/2031 | 300000 | &nbsp;&nbsp; 269408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.56%, 12/01/2030 | 233410 | &nbsp;&nbsp; 212169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.93%, 06/01/2035 | 96713 | &nbsp;&nbsp; 82519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.95%, 10/01/2029 | 400000 | &nbsp;&nbsp; 374323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 07/01/2050 to 01/01/2052 | 914780 | &nbsp;&nbsp; 804180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 05/01/2050 to 03/01/2061 | 428747 | &nbsp;&nbsp; 389038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.10%, 10/01/2032 | 136009 | &nbsp;&nbsp; 129630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.14%, 07/01/2032 | 85000 | &nbsp;&nbsp; 81234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.15%, 09/01/2033 | 105000 | &nbsp;&nbsp; 98442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.30%, 07/01/2032 | 234000 | &nbsp;&nbsp; 225499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.41%, 03/01/2033 | 107000 | &nbsp;&nbsp; 102579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.45%, 08/01/2033 | 136111 | &nbsp;&nbsp; 130414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 02/01/2052 to 11/01/2059 | 303572 | &nbsp;&nbsp; 286510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.68%, 01/01/2032 | 159889 | &nbsp;&nbsp; 157668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.81%, 10/01/2032 | 140000 | &nbsp;&nbsp; 138740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.95%, 01/01/2033 | 288000 | &nbsp;&nbsp; 286470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 06/01/2049 to 08/01/2059 | 616915 | &nbsp;&nbsp; 605876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.05%, 07/01/2032 | 99362 | &nbsp;&nbsp; 99618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.12%, 11/01/2032 | 155000 | &nbsp;&nbsp; 156031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.31%, 10/01/2032 | 239354 | &nbsp;&nbsp; 243021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.32%, 02/01/2034 | 110000 | &nbsp;&nbsp; 111602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.41%, 01/01/2033 | 165000 | &nbsp;&nbsp; 168437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.45%, 12/01/2032 | 153285 | &nbsp;&nbsp; 157142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 05/01/2052 | 103632 | &nbsp;&nbsp; 103659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.74%, 04/01/2031 | 127068 | &nbsp;&nbsp; 131427 |

---

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.76%, 01/01/2030 | $378000 | &nbsp;&nbsp; $389837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.83%, 12/01/2029 | 220612 | &nbsp;&nbsp; 227027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.93%, 10/01/2032 | 112644 | &nbsp;&nbsp; 118358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 06/01/2053 | 120205 | &nbsp;&nbsp; 121161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.07%, 03/01/2028 | 63406 | &nbsp;&nbsp; 65069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.43%, 07/01/2030 | 197887 | &nbsp;&nbsp; 209729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 06/01/2052 to 11/01/2053 | 253582 | &nbsp;&nbsp; 261527 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.46%, 11/01/2032(2) | 529653 | &nbsp;&nbsp; 455734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.51%, 11/01/2032(2) | 212887 | &nbsp;&nbsp; 183696 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 12/20/2050 | 158510 | &nbsp;&nbsp; 138649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 02/20/2051 to 09/20/2055 | 1852768 | &nbsp;&nbsp; 1705989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 01/20/2051 to 08/20/2053 | 1877081 | &nbsp;&nbsp; 1765587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 05/20/2038 to 08/20/2052 | 312713 | &nbsp;&nbsp; 305173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 12/20/2031 to 05/20/2052 | 118608 | &nbsp;&nbsp; 118606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 02/20/2052 to 08/20/2052 | 350114 | &nbsp;&nbsp; 352235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 06/20/2063 | 38085 | &nbsp;&nbsp; 38538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 09/20/2053 to 06/20/2063 | 170655 | &nbsp;&nbsp; 175643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.50%, 09/20/2054 | 58944 | &nbsp;&nbsp; 63155 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Corp. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.50%, 11/20/2053 | 155686 | &nbsp;&nbsp; 164554 |
|  |  | &nbsp;&nbsp; 13443257 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Obligations** <br>(cost $29,880,731)<br>|  | &nbsp;&nbsp; 28194721 |
| **MUNICIPAL SECURITIES — 0.0%** | **MUNICIPAL SECURITIES — 0.0%** | **MUNICIPAL SECURITIES — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Texas Natural Gas Securitization Finance Corp. <br>Revenue Bonds<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 04/01/2041 <br>(cost $30,000)<br>| 30000 | &nbsp;&nbsp; 31260 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $129,788,070)<br>|  | &nbsp;&nbsp; 144342051 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(4)(5) <br>(cost $514,850)<br>| 514850 | &nbsp;&nbsp; 514850 |
| **REPURCHASE AGREEMENTS — 1.9%** | **REPURCHASE AGREEMENTS — 1.9%** | **REPURCHASE AGREEMENTS — 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with Fixed Income Clearing Corp., bearing <br> interest at 1.06% dated 02/27/2026, to be repurchased <br> 03/02/2026 in the amount of $2,767,579 and <br> collateralized by $2,965,000of United States Treasury <br> Notes, bearing interest at 1.38% due 10/31/2028 and <br> having an approximate value of $2,822,797 <br>(cost $2,767,335)<br>| 2767335 | &nbsp;&nbsp; 2767335 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $133,070,255)<br>| 100.4<br> %<br>| &nbsp;&nbsp; 147624236 |
| Other assets less liabilities | (0.4)<br>| &nbsp;&nbsp; (566501)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $147057735 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The Asset Allocation Fund has no right to demand registration of <br> these securities. At February 28, 2026, the aggregate value of these securities was <br> $11,996,081 representing 8.2% of net assets.<br>|

---

# The security or a portion thereof is out on loan.

(1) "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate reflected is as of February 28, 2026. 

(2) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. 

(3) Interest Only

(4) The rate shown is the 7-day yield as of February 28, 2026.

(5) At February 28, 2026, the Fund had loaned securities with a total value of $5,725,912. This was secured by collateral of $514,850, which was received in cash and subsequently invested in short-term investments currently valued at $514,850 as reported in the Portfolio of Investments. Additional collateral of $5,461,282 was received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components of the fixed income pooled securities referenced above are as follows: 

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. <br> Corp.<br>| 0.87% to 9.50% | 04/15/2027 to 03/01/2056 | $1876266 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. <br> Assoc.<br>| 0.86% to 16.67% | 01/25/2027 to 01/01/2056 | 771521 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 0.75% to 8.54% | 12/16/2035 to 02/16/2068 | 2551616 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 1.25% to 4.75% | 07/31/2026 to 05/15/2054 | 261879 |

---

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

---

| |
|:---|
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SCRT—Structured Credit Risk Transfer |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| STRIPS—Separate Trading of Registered Interest and Principal |
| VRS—Variable Rate Security |

---

The rates shown on FRS and/or VRS are the current interest rates at February 28, 2026 and unless noted otherwise, the dates shown are the original maturity dates.

------

**VALIC Company I Asset Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $87484671 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $87484671 |
| Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 15786121 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15786121 |
| Asset Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 7236665 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7236665 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 5608613 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5608613 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 28194721 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28194721 |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 31260 | &nbsp;&nbsp; — | &nbsp;&nbsp; 31260 |
| Short-Term Investments | &nbsp;&nbsp; 514850 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 514850 |
| Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 2767335 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2767335 |
| **Total Investments at Value** | &nbsp;&nbsp; $87999521 | &nbsp;&nbsp; $59624715 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $147624236 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Capital Appreciation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** |
| **Auto Manufacturers — 3.1%** | **Auto Manufacturers — 3.1%** | **Auto Manufacturers — 3.1%** |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 28593 | &nbsp;&nbsp; $11508968 |
| **Banks — 0.2%** | **Banks — 0.2%** | **Banks — 0.2%** |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp | 10305 | &nbsp;&nbsp; 827698 |
| **Biotechnology — 3.3%** | **Biotechnology — 3.3%** | **Biotechnology — 3.3%** |
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.† | 32614 | &nbsp;&nbsp; 2013262 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 19280 | &nbsp;&nbsp; 1952485 |
| &nbsp;&nbsp;&nbsp; Insmed, Inc.† | 7042 | &nbsp;&nbsp; 1051582 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 14267 | &nbsp;&nbsp; 7088274 |
|  |  | &nbsp;&nbsp; 12105603 |
| **Commercial Services — 1.8%** | **Commercial Services — 1.8%** | **Commercial Services — 1.8%** |
| &nbsp;&nbsp;&nbsp; Paylocity Holding Corp.† | 7062 | &nbsp;&nbsp; 752032 |
| &nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. | 23689 | &nbsp;&nbsp; 1094669 |
| &nbsp;&nbsp;&nbsp; Rollins, Inc. | 80375 | &nbsp;&nbsp; 4894034 |
|  |  | &nbsp;&nbsp; 6740735 |
| **Computers — 8.8%** | **Computers — 8.8%** | **Computers — 8.8%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 100760 | &nbsp;&nbsp; 26618777 |
| &nbsp;&nbsp;&nbsp; EPAM Systems, Inc.† | 17483 | &nbsp;&nbsp; 2465103 |
| &nbsp;&nbsp;&nbsp; Genpact, Ltd. | 23837 | &nbsp;&nbsp; 946806 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc., Class A† | 17651 | &nbsp;&nbsp; 1133547 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 3240 | &nbsp;&nbsp; 1321401 |
|  |  | &nbsp;&nbsp; 32485634 |
| **Diversified Financial Services — 4.4%** | **Diversified Financial Services — 4.4%** | **Diversified Financial Services — 4.4%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | 18375 | &nbsp;&nbsp; 5676037 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 41152 | &nbsp;&nbsp; 3917670 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 6147 | &nbsp;&nbsp; 3179290 |
| &nbsp;&nbsp;&nbsp; SEI Investments Co. | 41755 | &nbsp;&nbsp; 3395517 |
|  |  | &nbsp;&nbsp; 16168514 |
| **Electric — 1.5%** | **Electric — 1.5%** | **Electric — 1.5%** |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 27094 | &nbsp;&nbsp; 4848742 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | 4995 | &nbsp;&nbsp; 868581 |
|  |  | &nbsp;&nbsp; 5717323 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 3281 | &nbsp;&nbsp; 2377478 |
| **Food — 0.3%** | **Food — 0.3%** | **Food — 0.3%** |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 10772 | &nbsp;&nbsp; 981976 |
| **Healthcare-Services — 0.7%** | **Healthcare-Services — 0.7%** | **Healthcare-Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Cigna Group | 8419 | &nbsp;&nbsp; 2439995 |
| **Insurance — 2.3%** | **Insurance — 2.3%** | **Insurance — 2.3%** |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 18520 | &nbsp;&nbsp; 3956983 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings, Ltd. | 15071 | &nbsp;&nbsp; 4558375 |
|  |  | &nbsp;&nbsp; 8515358 |
| **Internet — 20.2%** | **Internet — 20.2%** | **Internet — 20.2%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 16698 | &nbsp;&nbsp; 5205768 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 58715 | &nbsp;&nbsp; 18285612 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 77425 | &nbsp;&nbsp; 16259250 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 1065 | &nbsp;&nbsp; 4514908 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 18703 | &nbsp;&nbsp; 4034050 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 26692 | &nbsp;&nbsp; 17301221 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc., Class A† | 179029 | &nbsp;&nbsp; 3066767 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 75195 | &nbsp;&nbsp; 5671207 |
|  |  | &nbsp;&nbsp; 74338783 |
| **Lodging — 1.0%** | **Lodging — 1.0%** | **Lodging — 1.0%** |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 65063 | &nbsp;&nbsp; 3690373 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Mining — 1.2%** | **Mining — 1.2%** | **Mining — 1.2%** |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc.† | 86605 | &nbsp;&nbsp; $2351326 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 16149 | &nbsp;&nbsp; 2099370 |
|  |  | &nbsp;&nbsp; 4450696 |
| **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; TechnipFMC PLC | 66628 | &nbsp;&nbsp; 4418103 |
| **Pharmaceuticals — 7.6%** | **Pharmaceuticals — 7.6%** | **Pharmaceuticals — 7.6%** |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 21779 | &nbsp;&nbsp; 4992400 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 12840 | &nbsp;&nbsp; 13507552 |
| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC† | 9467 | &nbsp;&nbsp; 1798919 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 5705 | &nbsp;&nbsp; 5632946 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.† | 16909 | &nbsp;&nbsp; 2236215 |
|  |  | &nbsp;&nbsp; 28168032 |
| **REITS — 0.5%** | **REITS — 0.5%** | **REITS — 0.5%** |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | 85034 | &nbsp;&nbsp; 1665816 |
| **Retail — 3.6%** | **Retail — 3.6%** | **Retail — 3.6%** |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 12324 | &nbsp;&nbsp; 2534307 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 34731 | &nbsp;&nbsp; 5614613 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 7369 | &nbsp;&nbsp; 5046218 |
|  |  | &nbsp;&nbsp; 13195138 |
| **Semiconductors — 18.3%** | **Semiconductors — 18.3%** | **Semiconductors — 18.3%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 28831 | &nbsp;&nbsp; 5772255 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 60373 | &nbsp;&nbsp; 19292192 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 4036 | &nbsp;&nbsp; 943980 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 6693 | &nbsp;&nbsp; 2759992 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 208286 | &nbsp;&nbsp; 36906196 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 11788 | &nbsp;&nbsp; 1678140 |
|  |  | &nbsp;&nbsp; 67352755 |
| **Software — 12.9%** | **Software — 12.9%** | **Software — 12.9%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 21251 | &nbsp;&nbsp; 5576475 |
| &nbsp;&nbsp;&nbsp; Dynatrace, Inc.† | 76564 | &nbsp;&nbsp; 2750179 |
| &nbsp;&nbsp;&nbsp; HubSpot, Inc.† | 7091 | &nbsp;&nbsp; 1875640 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 51950 | &nbsp;&nbsp; 20402843 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 50150 | &nbsp;&nbsp; 6880079 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 23844 | &nbsp;&nbsp; 4644573 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 30543 | &nbsp;&nbsp; 3298949 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 16691 | &nbsp;&nbsp; 2232588 |
|  |  | &nbsp;&nbsp; 47661326 |
| **Telecommunications — 4.0%** | **Telecommunications — 4.0%** | **Telecommunications — 4.0%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 51296 | &nbsp;&nbsp; 6848016 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 11475 | &nbsp;&nbsp; 911803 |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding, Ltd.† | 12969 | &nbsp;&nbsp; 1456030 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 11364 | &nbsp;&nbsp; 5480403 |
|  |  | &nbsp;&nbsp; 14696252 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $293,453,415)<br>|  | &nbsp;&nbsp; 359506556 |

---

------

**VALIC Company I Capital Appreciation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 2.1%** | **SHORT-TERM INVESTMENTS — 2.1%** | **SHORT-TERM INVESTMENTS — 2.1%** |
| **Unaffiliated Investment Companies — 2.1%** | **Unaffiliated Investment Companies — 2.1%** | **Unaffiliated Investment Companies — 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(1) <br>(cost $7,744,009)<br>| 7744009 | &nbsp;&nbsp; $7744009 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $301,197,424)<br>| 99.6<br> %<br>| &nbsp;&nbsp; 367250565 |
| Other assets less liabilities | 0.4 | &nbsp;&nbsp; 1572079 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $368822644 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;† Non-income producing security

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $359506556 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $359506556 |
| Short-Term Investments | &nbsp;&nbsp; 7744009 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7744009 |
| **Total Investments at Value** | &nbsp;&nbsp; $367250565 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $367250565 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Conservative Allocation Lifestyle Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 99.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 99.0%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 99.0%** |
| **Domestic Fixed Income Investment Companies — 62.1%** | **Domestic Fixed Income Investment Companies — 62.1%** | **Domestic Fixed Income Investment Companies — 62.1%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Core Bond Fund | 16960391 | &nbsp;&nbsp; $175879255 |
| &nbsp;&nbsp;&nbsp; VALIC Company I High Yield Bond Fund | 412998 | &nbsp;&nbsp; 3080967 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Fixed Income Investment Companies** <br>(cost $171,283,825)<br>|  | &nbsp;&nbsp; 178960222 |
| **Domestic Equity Investment Companies — 26.6%** | **Domestic Equity Investment Companies — 26.6%** | **Domestic Equity Investment Companies — 26.6%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Large Cap Core Fund | 974535 | &nbsp;&nbsp; 17736533 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Growth Fund | 159194 | &nbsp;&nbsp; 2906891 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Index Fund | 38525 | &nbsp;&nbsp; 718877 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Value Fund | 212794 | &nbsp;&nbsp; 3100402 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Stock Index Fund | 391916 | &nbsp;&nbsp; 26822701 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Growth Fund | 726615 | &nbsp;&nbsp; 14844752 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Value Fund | 609107 | &nbsp;&nbsp; 10671554 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Equity Investment Companies** <br>(cost $64,987,675)<br>|  | &nbsp;&nbsp; 76801710 |
| **International Equity Investment Companies — 10.3%** | **International Equity Investment Companies — 10.3%** | **International Equity Investment Companies — 10.3%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Emerging Economies Fund | 160685 | &nbsp;&nbsp; 1479904 |
| &nbsp;&nbsp;&nbsp; VALIC Company I International Equities Index Fund | 2546336 | &nbsp;&nbsp; 28315260 |
| &nbsp;&nbsp;&nbsp; **Total International Equity Investment Companies** <br>(cost $21,507,935)<br>|  | &nbsp;&nbsp; 29795164 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $257,779,435)<br>|  | &nbsp;&nbsp; 285557096 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** |
| **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(2) <br>(cost $2,838,760)<br>| 2838760 | &nbsp;&nbsp; $2838760 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $260,618,195)<br>| 100.0<br> %<br>| &nbsp;&nbsp; 288395856 |
| Other assets less liabilities | (0.0)<br>| &nbsp;&nbsp; (31906)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $288363950 |

---

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

---

| | |
|:---|:---|
| ^ | &nbsp;&nbsp; Prior to September 29, 2025, the Fund was known as Conservative Growth Lifestyle <br> Fund.<br>|
| # | &nbsp;&nbsp; The VALIC Company I Conservative Allocation Lifestyle Fund invests in various VALIC <br> Company I Funds. Additional information on the underlying funds including such funds' <br> prospectuses and shareholder reports are available at our website, <br> www.corebridgefinancial.com/rs.<br>|
| (1) | See Note 3. |
| (2) | The rate shown is the 7-day yield as of February 28, 2026. |

---

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp; $285557096 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $285557096 |
| Short-Term Investments | &nbsp;&nbsp; 2838760 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2838760 |
| **Total Investments at Value** | &nbsp;&nbsp; $288395856 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $288395856 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES — 31.2%** | **CORPORATE BONDS & NOTES — 31.2%** | **CORPORATE BONDS & NOTES — 31.2%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp; Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.29%, 04/15/2029\* | $971000 | &nbsp;&nbsp; $972903 |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/02/2029 | 245000 | &nbsp;&nbsp; 245542 |
|  |  | &nbsp;&nbsp; 1218445 |
| **Aerospace/Defense — 0.4%** | **Aerospace/Defense — 0.4%** | **Aerospace/Defense — 0.4%** |
| &nbsp;&nbsp;&nbsp; ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/2029 | 418000 | &nbsp;&nbsp; 417455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/01/2031 | 150000 | &nbsp;&nbsp; 150713 |
| &nbsp;&nbsp;&nbsp; BAE Systems PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/26/2054\* | 272000 | &nbsp;&nbsp; 280162 |
| &nbsp;&nbsp;&nbsp; Boeing Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/15/2046 | 1048000 | &nbsp;&nbsp; 753055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 05/01/2034 | 584000 | &nbsp;&nbsp; 538663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/01/2050 | 611000 | &nbsp;&nbsp; 453672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/01/2030 | 1223000 | &nbsp;&nbsp; 1266710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.81%, 05/01/2050 | 255000 | &nbsp;&nbsp; 256030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 05/01/2060 | 1255000 | &nbsp;&nbsp; 1258663 |
| &nbsp;&nbsp;&nbsp; Embraer Netherlands Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/09/2038 | 179000 | &nbsp;&nbsp; 179179 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/2031 | 722000 | &nbsp;&nbsp; 756562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/31/2033 | 1582000 | &nbsp;&nbsp; 1666713 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 06/15/2050 | 6000 | &nbsp;&nbsp; 3908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/15/2031 | 454000 | &nbsp;&nbsp; 470599 |
| &nbsp;&nbsp;&nbsp; RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 02/27/2053# | 1541000 | &nbsp;&nbsp; 1503188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/15/2054 | 598000 | &nbsp;&nbsp; 668244 |
|  |  | &nbsp;&nbsp; 10623516 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bunge, Ltd. Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/17/2034 | 809000 | &nbsp;&nbsp; 805683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/04/2035 | 440000 | &nbsp;&nbsp; 451484 |
|  |  | &nbsp;&nbsp; 1257167 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Air Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/2026\* | 747000 | &nbsp;&nbsp; 747196 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 02/15/2028\* | 163000 | &nbsp;&nbsp; 166125 |
| &nbsp;&nbsp;&nbsp; British Airways Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 09/15/2036\* | 1420848 | &nbsp;&nbsp; 1320015 |
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/15/2030\* | 400000 | &nbsp;&nbsp; 416980 |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 11/15/2035 | 826000 | &nbsp;&nbsp; 819245 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/01/2031 | 99000 | &nbsp;&nbsp; 100936 |
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 08/15/2038 | 1924599 | &nbsp;&nbsp; 2012573 |
|  |  | &nbsp;&nbsp; 5583070 |
| **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** |
| &nbsp;&nbsp;&nbsp; BMW US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/11/2030\* | 192000 | &nbsp;&nbsp; 194557 |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/20/2054 | 152000 | &nbsp;&nbsp; 152197 |
| &nbsp;&nbsp;&nbsp; Daimler Truck Finance North America LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/12/2029\* | 339000 | &nbsp;&nbsp; 339942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/12/2030\* | 237000 | &nbsp;&nbsp; 240884 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/13/2028\* | $243000 | &nbsp;&nbsp; $247155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 01/19/2028\* | 379000 | &nbsp;&nbsp; 386831 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/13/2030 | 412000 | &nbsp;&nbsp; 394842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 04/06/2029 | 635000 | &nbsp;&nbsp; 639050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 11/05/2031 | 950000 | &nbsp;&nbsp; 988681 |
| &nbsp;&nbsp;&nbsp; General Motors Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 04/15/2028 | 425000 | &nbsp;&nbsp; 435479 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 01/12/2032 | 239000 | &nbsp;&nbsp; 221029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/18/2031 | 1256000 | &nbsp;&nbsp; 1319714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 01/07/2035 | 345000 | &nbsp;&nbsp; 362625 |
| &nbsp;&nbsp;&nbsp; Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/18/2030\* | 469000 | &nbsp;&nbsp; 473506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/25/2027\* | 348000 | &nbsp;&nbsp; 351300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/01/2027\* | 701000 | &nbsp;&nbsp; 710913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/19/2029\* | 767000 | &nbsp;&nbsp; 793944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/23/2032\* | 412000 | &nbsp;&nbsp; 432551 |
| &nbsp;&nbsp;&nbsp; Stellantis Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/18/2030\* | 480000 | &nbsp;&nbsp; 491745 |
|  |  | &nbsp;&nbsp; 9176945 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/15/2032\* | 342000 | &nbsp;&nbsp; 348062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2033\* | 295000 | &nbsp;&nbsp; 299821 |
| &nbsp;&nbsp;&nbsp; Aptiv Swiss Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 12/01/2051 | 512000 | &nbsp;&nbsp; 334379 |
| &nbsp;&nbsp;&nbsp; ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/23/2032\* | 300000 | &nbsp;&nbsp; 300953 |
|  |  | &nbsp;&nbsp; 1283215 |
| **Banks — 8.9%** | **Banks — 8.9%** | **Banks — 8.9%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 12/03/2035\* | 1800000 | &nbsp;&nbsp; 1869611 |
| &nbsp;&nbsp;&nbsp; Abu Dhabi Commercial Bank PJSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.36%, 03/10/2035 | 500000 | &nbsp;&nbsp; 508838 |
| &nbsp;&nbsp;&nbsp; AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 05/15/2031\* | 1215000 | &nbsp;&nbsp; 1262140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 03/28/2035\* | 1000000 | &nbsp;&nbsp; 1065618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.61%, 09/13/2029\* | 875000 | &nbsp;&nbsp; 926144 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 03/03/2036 | 1000000 | &nbsp;&nbsp; 994166 |
| &nbsp;&nbsp;&nbsp; Banco General SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/07/2027 | 600000 | &nbsp;&nbsp; 597528 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 08/08/2028 | 1000000 | &nbsp;&nbsp; 1036528 |
| &nbsp;&nbsp;&nbsp; Bangkok Bank PCL/Hong Kong |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 11/26/2035\* | 400000 | &nbsp;&nbsp; 405648 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 04/22/2042 | 982000 | &nbsp;&nbsp; 783133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 12/20/2028 | 302000 | &nbsp;&nbsp; 298877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 03/08/2037 | 2234000 | &nbsp;&nbsp; 2114227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 02/07/2030 | 1423000 | &nbsp;&nbsp; 1421735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 04/23/2040 | 2312000 | &nbsp;&nbsp; 2077691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 11/25/2027 | 842000 | &nbsp;&nbsp; 842705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 04/27/2033 | 1090000 | &nbsp;&nbsp; 1094435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/06/2037 | 2820000 | &nbsp;&nbsp; 2860674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 01/24/2031 | 715000 | &nbsp;&nbsp; 742128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 08/15/2035 | 392000 | &nbsp;&nbsp; 401570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 10/25/2035 | 1299000 | &nbsp;&nbsp; 1333058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 01/29/2037 | 723000 | &nbsp;&nbsp; 780703 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/20/2030\* | $3640000 | &nbsp;&nbsp; $3787344 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 02/11/2031 | 701000 | &nbsp;&nbsp; 723264 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 05/04/2037 | 893000 | &nbsp;&nbsp; 878712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 02/02/2034 | 90000 | &nbsp;&nbsp; 91037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/01/2034 | 952000 | &nbsp;&nbsp; 1019062 |
| &nbsp;&nbsp;&nbsp; BankUnited, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/11/2030# | 1178000 | &nbsp;&nbsp; 1188022 |
| &nbsp;&nbsp;&nbsp; Banque Federative du Credit Mutuel SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 01/15/2031\* | 390000 | &nbsp;&nbsp; 392216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/22/2030\* | 1155000 | &nbsp;&nbsp; 1209111 |
| &nbsp;&nbsp;&nbsp; Barclays PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 09/23/2035 | 900000 | &nbsp;&nbsp; 857230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 02/24/2032 | 470000 | &nbsp;&nbsp; 471040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 09/10/2030 | 753000 | &nbsp;&nbsp; 770481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 02/24/2037 | 635000 | &nbsp;&nbsp; 634401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 02/25/2036 | 515000 | &nbsp;&nbsp; 539544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.86%, 08/11/2046 | 211000 | &nbsp;&nbsp; 217881 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 01/15/2034\* | 1751000 | &nbsp;&nbsp; 1759406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 11/19/2030\* | 3430000 | &nbsp;&nbsp; 3553325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 01/13/2033\* | 840000 | &nbsp;&nbsp; 889684 |
| &nbsp;&nbsp;&nbsp; BPCE SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.58%, 10/19/2042\* | 674000 | &nbsp;&nbsp; 514374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 05/28/2031\* | 1330000 | &nbsp;&nbsp; 1375914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 05/30/2035\* | 2280000 | &nbsp;&nbsp; 2406120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.03%, 05/28/2036\* | 1660000 | &nbsp;&nbsp; 1750806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.29%, 01/14/2036\* | 1215000 | &nbsp;&nbsp; 1308741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/13/2047\* | 761000 | &nbsp;&nbsp; 762502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 01/14/2046\* | 253000 | &nbsp;&nbsp; 272635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/19/2034\* | 1000000 | &nbsp;&nbsp; 1123847 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 07/03/2036\* | 2645000 | &nbsp;&nbsp; 2744285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 03/15/2030\* | 248000 | &nbsp;&nbsp; 258618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.04%, 06/15/2035\* | 1390000 | &nbsp;&nbsp; 1491623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.84%, 09/13/2034\* | 200000 | &nbsp;&nbsp; 224518 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/11/2030 | 1510000 | &nbsp;&nbsp; 1537105 |
| &nbsp;&nbsp;&nbsp; Citibank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 05/29/2030 | 667000 | &nbsp;&nbsp; 689011 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 06/03/2031 | 418000 | &nbsp;&nbsp; 390713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 01/29/2031 | 369000 | &nbsp;&nbsp; 348148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 11/03/2042 | 554000 | &nbsp;&nbsp; 413029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 07/24/2028 | 211000 | &nbsp;&nbsp; 210000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/29/2027 | 1959000 | &nbsp;&nbsp; 1970828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/11/2031 | 745000 | &nbsp;&nbsp; 750687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 09/19/2030 | 2249000 | &nbsp;&nbsp; 2275538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/07/2031 | 3250000 | &nbsp;&nbsp; 3333134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 09/11/2036 | 1039000 | &nbsp;&nbsp; 1057138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 09/19/2039 | 966000 | &nbsp;&nbsp; 972927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/22/2033 | 686000 | &nbsp;&nbsp; 738207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/31/2033 | 1470000 | &nbsp;&nbsp; 1583733 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 07/23/2032 | 1286000 | &nbsp;&nbsp; 1354724 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 05/27/2031\* | 1205000 | &nbsp;&nbsp; 1241607 |
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA/NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/21/2028 | 828000 | &nbsp;&nbsp; 847309 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 09/25/2033\* | $760000 | &nbsp;&nbsp; $765735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 05/27/2031\* | 1941000 | &nbsp;&nbsp; 2006991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/12/2028\* | 2064000 | &nbsp;&nbsp; 2126642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.86%, 01/09/2036\* | 1265000 | &nbsp;&nbsp; 1344544 |
| &nbsp;&nbsp;&nbsp; Credit Suisse Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.02%, 11/15/2033\* | 194000 | &nbsp;&nbsp; 242814 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 10/02/2030\* | 1001000 | &nbsp;&nbsp; 1014118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 03/04/2031\* | 830000 | &nbsp;&nbsp; 853289 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.82%, 03/10/2031 | 560000 | &nbsp;&nbsp; 559475 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 01/07/2028 | 950000 | &nbsp;&nbsp; 938093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/18/2031# | 662000 | &nbsp;&nbsp; 635873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 01/14/2032 | 241000 | &nbsp;&nbsp; 229291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 01/07/2033 | 826000 | &nbsp;&nbsp; 774819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 12/10/2031 | 649000 | &nbsp;&nbsp; 652721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 08/04/2031 | 390000 | &nbsp;&nbsp; 397203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/11/2030 | 825000 | &nbsp;&nbsp; 842867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/09/2031 | 2865000 | &nbsp;&nbsp; 2958551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 01/10/2029 | 680000 | &nbsp;&nbsp; 694955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 05/10/2029 | 295000 | &nbsp;&nbsp; 307588 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 11/04/2031\* | 540000 | &nbsp;&nbsp; 542585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/05/2030\* | 1000000 | &nbsp;&nbsp; 1027299 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/29/2037 | 740000 | &nbsp;&nbsp; 742280 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/05/2035 | 453000 | &nbsp;&nbsp; 454910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/12/2040 | 637000 | &nbsp;&nbsp; 648697 |
| &nbsp;&nbsp;&nbsp; First Horizon Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/01/2030# | 465000 | &nbsp;&nbsp; 482263 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 03/07/2031 | 311000 | &nbsp;&nbsp; 321984 |
| &nbsp;&nbsp;&nbsp; FNB Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 12/11/2030 | 982000 | &nbsp;&nbsp; 1009864 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.54%, 09/10/2027 | 1363000 | &nbsp;&nbsp; 1345085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 07/21/2032 | 1767000 | &nbsp;&nbsp; 1593752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.21%, 04/22/2042 | 1392000 | &nbsp;&nbsp; 1074479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/2030 | 577000 | &nbsp;&nbsp; 571407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 01/21/2029 | 1253000 | &nbsp;&nbsp; 1253519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 05/01/2029 | 2307000 | &nbsp;&nbsp; 2313823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 10/21/2031 | 408000 | &nbsp;&nbsp; 408263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 10/23/2030 | 269000 | &nbsp;&nbsp; 273379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 10/21/2036 | 570000 | &nbsp;&nbsp; 567973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/23/2030 | 135000 | &nbsp;&nbsp; 138495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/21/2037 | 970000 | &nbsp;&nbsp; 976823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 07/23/2035 | 290000 | &nbsp;&nbsp; 299349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/21/2047 | 326000 | &nbsp;&nbsp; 324472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/25/2035 | 4075000 | &nbsp;&nbsp; 4344882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/01/2037 | 1393000 | &nbsp;&nbsp; 1564741 |
| &nbsp;&nbsp;&nbsp; Gulf International Bank BSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/05/2029 | 600000 | &nbsp;&nbsp; 623730 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.87%, 11/22/2032 | 2700000 | &nbsp;&nbsp; 2483926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 11/06/2031 | 472000 | &nbsp;&nbsp; 477408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 05/17/2032 | 468000 | &nbsp;&nbsp; 496224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 09/10/2036 | 594000 | &nbsp;&nbsp; 614917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.33%, 03/09/2044 | 3508000 | &nbsp;&nbsp; 3873938 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 01/15/2031 | 510000 | &nbsp;&nbsp; 527950 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 01/28/2041 | $523000 | &nbsp;&nbsp; $525530 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 06/01/2042\* | 786000 | &nbsp;&nbsp; 696768 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.07%, 06/01/2029 | 2079000 | &nbsp;&nbsp; 1994124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.53%, 11/19/2041 | 2354000 | &nbsp;&nbsp; 1721293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.55%, 11/08/2032 | 267000 | &nbsp;&nbsp; 243174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 05/01/2028 | 1920000 | &nbsp;&nbsp; 1909403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 10/22/2028 | 429000 | &nbsp;&nbsp; 432771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 07/25/2033 | 267000 | &nbsp;&nbsp; 273759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 11/29/2045 | 200000 | &nbsp;&nbsp; 204387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 07/23/2036 | 483000 | &nbsp;&nbsp; 502318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/23/2034 | 197000 | &nbsp;&nbsp; 216630 |
| &nbsp;&nbsp;&nbsp; KBC Group NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/23/2031\* | 1949000 | &nbsp;&nbsp; 1963969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 10/16/2030\* | 610000 | &nbsp;&nbsp; 625615 |
| &nbsp;&nbsp;&nbsp; KeyBank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/20/2026 | 1560000 | &nbsp;&nbsp; 1557465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/08/2032 | 782000 | &nbsp;&nbsp; 785889 |
| &nbsp;&nbsp;&nbsp; KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 04/04/2031 | 845000 | &nbsp;&nbsp; 866853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 01/28/2037 | 643000 | &nbsp;&nbsp; 648691 |
| &nbsp;&nbsp;&nbsp; KIB Sukuk, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 04/16/2036 | 500000 | &nbsp;&nbsp; 504131 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 11/04/2036 | 1290000 | &nbsp;&nbsp; 1282645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 01/05/2035 | 586000 | &nbsp;&nbsp; 620952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/05/2030 | 260000 | &nbsp;&nbsp; 273005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.07%, 06/13/2036 | 213000 | &nbsp;&nbsp; 223919 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 07/08/2031 | 1160000 | &nbsp;&nbsp; 1197970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/30/2035 | 384000 | &nbsp;&nbsp; 389505 |
| &nbsp;&nbsp;&nbsp; Mashreqbank PSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/24/2033 | 350000 | &nbsp;&nbsp; 367850 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 01/14/2032 | 425000 | &nbsp;&nbsp; 429102 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 07/08/2031 | 1085000 | &nbsp;&nbsp; 1106359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/08/2036 | 2545000 | &nbsp;&nbsp; 2637540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/06/2029 | 1431000 | &nbsp;&nbsp; 1488229 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.59%, 05/04/2027 | 654000 | &nbsp;&nbsp; 651245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.48%, 09/16/2036 | 505000 | &nbsp;&nbsp; 447100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 04/22/2042 | 1958000 | &nbsp;&nbsp; 1548732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 04/01/2031 | 608000 | &nbsp;&nbsp; 594498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/2030 | 193000 | &nbsp;&nbsp; 196150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/19/2030 | 660000 | &nbsp;&nbsp; 679103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 01/30/2037 | 1195000 | &nbsp;&nbsp; 1205186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 01/16/2030 | 461000 | &nbsp;&nbsp; 473894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/20/2037 | 975000 | &nbsp;&nbsp; 998688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 01/18/2041 | 414000 | &nbsp;&nbsp; 411896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 07/19/2035 | 1211000 | &nbsp;&nbsp; 1253930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 01/18/2036 | 1060000 | &nbsp;&nbsp; 1114337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 02/07/2039 | 416000 | &nbsp;&nbsp; 438438 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 07/22/2028(1) | 1713000 | &nbsp;&nbsp; 1702424 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Bank NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/26/2028 | 312000 | &nbsp;&nbsp; 317597 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 11/28/2035 | 747000 | &nbsp;&nbsp; 696027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 05/08/2030 | 778000 | &nbsp;&nbsp; 784543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 05/18/2029 | 755000 | &nbsp;&nbsp; 768688 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 08/15/2030 | $2671000 | &nbsp;&nbsp; $2738328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.91%, 03/03/2047 | 896000 | &nbsp;&nbsp; 889696 |
| &nbsp;&nbsp;&nbsp; NatWest Markets PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 05/17/2029\* | 1905000 | &nbsp;&nbsp; 1983792 |
| &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 05/21/2034 | 570000 | &nbsp;&nbsp; 591084 |
| &nbsp;&nbsp;&nbsp; Pinnacle Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.96%, 01/15/2036 | 356000 | &nbsp;&nbsp; 361878 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 10/21/2032 | 670000 | &nbsp;&nbsp; 685044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 07/21/2036 | 1185000 | &nbsp;&nbsp; 1228584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 01/25/2041 | 179000 | &nbsp;&nbsp; 180962 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 06/06/2030 | 462000 | &nbsp;&nbsp; 484009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 12/10/2037 | 781000 | &nbsp;&nbsp; 915796 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/2030 | 1050000 | &nbsp;&nbsp; 1071140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 03/27/2028 | 762000 | &nbsp;&nbsp; 768798 |
| &nbsp;&nbsp;&nbsp; Santander Holdings USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 01/09/2030 | 2000000 | &nbsp;&nbsp; 2088653 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 09/11/2030 | 1880000 | &nbsp;&nbsp; 1916459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 04/15/2031 | 910000 | &nbsp;&nbsp; 955460 |
| &nbsp;&nbsp;&nbsp; Saudi Awwal Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/04/2035 | 300000 | &nbsp;&nbsp; 305791 |
| &nbsp;&nbsp;&nbsp; Signature Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/15/2030†(2) | 740000 | &nbsp;&nbsp; 529100 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/03/2030\* | 720000 | &nbsp;&nbsp; 729273 |
| &nbsp;&nbsp;&nbsp; SNB Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/24/2035 | 630000 | &nbsp;&nbsp; 650416 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/19/2027\* | 775000 | &nbsp;&nbsp; 783614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 05/22/2031\* | 1011000 | &nbsp;&nbsp; 1052327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/13/2033\* | 2240000 | &nbsp;&nbsp; 2390313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 01/10/2029\* | 1411000 | &nbsp;&nbsp; 1467802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.69%, 01/10/2034\* | 1089000 | &nbsp;&nbsp; 1195860 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 10/15/2030\* | 350000 | &nbsp;&nbsp; 358271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 05/14/2028\* | 400000 | &nbsp;&nbsp; 407691 |
| &nbsp;&nbsp;&nbsp; State Street Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 10/23/2036 | 455000 | &nbsp;&nbsp; 454691 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/08/2033 | 939000 | &nbsp;&nbsp; 965260 |
| &nbsp;&nbsp;&nbsp; Swedbank AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.54%, 11/16/2026\* | 3767000 | &nbsp;&nbsp; 3708370 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/06/2031 | 317000 | &nbsp;&nbsp; 315299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/27/2032 | 484000 | &nbsp;&nbsp; 485556 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 10/15/2035 | 409000 | &nbsp;&nbsp; 412358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/30/2032 | 780000 | &nbsp;&nbsp; 821014 |
| &nbsp;&nbsp;&nbsp; Truist Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 10/23/2029 | 739000 | &nbsp;&nbsp; 739941 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/23/2036 | 500000 | &nbsp;&nbsp; 499286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 05/20/2031 | 800000 | &nbsp;&nbsp; 825687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 01/26/2034 | 1000000 | &nbsp;&nbsp; 1025705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.16%, 10/30/2029 | 1520000 | &nbsp;&nbsp; 1636344 |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.49%, 08/10/2027\* | 1610000 | &nbsp;&nbsp; 1591976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 05/14/2032\* | 307000 | &nbsp;&nbsp; 287281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.21%, 04/10/2030\* | 742000 | &nbsp;&nbsp; 743320 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/23/2031\* | $430000 | &nbsp;&nbsp; $431223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/12/2028\* | 1477000 | &nbsp;&nbsp; 1488875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 11/06/2033\* | 1639000 | &nbsp;&nbsp; 1652742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 03/23/2037\* | 1130000 | &nbsp;&nbsp; 1126323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 08/10/2037\* | 605000 | &nbsp;&nbsp; 610492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 02/08/2030\* | 528000 | &nbsp;&nbsp; 547273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 05/09/2036\* | 210000 | &nbsp;&nbsp; 218606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 09/22/2034\* | 471000 | &nbsp;&nbsp; 516580 |
| &nbsp;&nbsp;&nbsp; United Overseas Bank, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 10/14/2031 | 870000 | &nbsp;&nbsp; 858445 |
| &nbsp;&nbsp;&nbsp; US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.49%, 11/03/2036 | 1567000 | &nbsp;&nbsp; 1387471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 05/15/2031 | 860000 | &nbsp;&nbsp; 889670 |
| &nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 04/01/2033\* | 514000 | &nbsp;&nbsp; 508044 |
| &nbsp;&nbsp;&nbsp; Webster Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 09/11/2035 | 608000 | &nbsp;&nbsp; 625639 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.57%, 02/11/2031 | 1155000 | &nbsp;&nbsp; 1087081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/30/2030 | 1170000 | &nbsp;&nbsp; 1119814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.07%, 04/30/2041 | 1718000 | &nbsp;&nbsp; 1341217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 09/15/2029 | 813000 | &nbsp;&nbsp; 813218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 07/22/2027 | 3302000 | &nbsp;&nbsp; 3313793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/04/2044 | 315000 | &nbsp;&nbsp; 276431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 12/07/2046 | 176000 | &nbsp;&nbsp; 155876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 01/23/2037 | 440000 | &nbsp;&nbsp; 441673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 12/03/2035 | 3145000 | &nbsp;&nbsp; 3229301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 04/24/2034 | 1009000 | &nbsp;&nbsp; 1051484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/23/2035 | 428000 | &nbsp;&nbsp; 448333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 04/23/2036 | 2161000 | &nbsp;&nbsp; 2272788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 01/15/2044 | 321000 | &nbsp;&nbsp; 319966 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.54%, 11/15/2035 | 744000 | &nbsp;&nbsp; 757616 |
| &nbsp;&nbsp;&nbsp; Yapi ve Kredi Bankasi AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/03/2030\* | 320000 | &nbsp;&nbsp; 333120 |
| &nbsp;&nbsp;&nbsp; Zions Bancorp NA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.82%, 11/19/2035 | 794000 | &nbsp;&nbsp; 845476 |
|  |  | &nbsp;&nbsp; 234953845 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch Cos. LLC/Anheuser-Busch InBev <br> Worldwide, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/01/2046 | 905000 | &nbsp;&nbsp; 851239 |
| &nbsp;&nbsp;&nbsp; Constellation Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 05/09/2027 | 706000 | &nbsp;&nbsp; 709344 |
| &nbsp;&nbsp;&nbsp; PepsiCo., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 02/18/2028# | 319000 | &nbsp;&nbsp; 319057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 02/07/2028# | 462000 | &nbsp;&nbsp; 469108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 07/23/2032 | 399000 | &nbsp;&nbsp; 410921 |
|  |  | &nbsp;&nbsp; 2759669 |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 02/21/2040 | 835000 | &nbsp;&nbsp; 671887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 02/19/2031# | 311000 | &nbsp;&nbsp; 311919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 05/01/2045 | 485000 | &nbsp;&nbsp; 424515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 06/15/2051 | 412000 | &nbsp;&nbsp; 359693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/19/2036 | 183000 | &nbsp;&nbsp; 183990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/02/2028 | 383000 | &nbsp;&nbsp; 392223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/02/2030 | 343000 | &nbsp;&nbsp; 357939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/02/2043 | 256000 | &nbsp;&nbsp; 261639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/02/2053 | 1371000 | &nbsp;&nbsp; 1368557 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/02/2063 | $964000 | &nbsp;&nbsp; $955517 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/2035 | 610000 | &nbsp;&nbsp; 650476 |
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/2034\* | 525000 | &nbsp;&nbsp; 529616 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.60%, 10/01/2040 | 500000 | &nbsp;&nbsp; 374544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/2029 | 461000 | &nbsp;&nbsp; 475169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/15/2035 | 303000 | &nbsp;&nbsp; 313681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/15/2053 | 562000 | &nbsp;&nbsp; 564585 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 09/15/2030 | 374000 | &nbsp;&nbsp; 337110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 09/15/2050 | 983000 | &nbsp;&nbsp; 610520 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 09/02/2031 | 620000 | &nbsp;&nbsp; 554064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 09/02/2029 | 269000 | &nbsp;&nbsp; 278146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/25/2055 | 177000 | &nbsp;&nbsp; 179163 |
|  |  | &nbsp;&nbsp; 10154953 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/05/2040 | 1131000 | &nbsp;&nbsp; 926930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/15/2034 | 232000 | &nbsp;&nbsp; 251003 |
| &nbsp;&nbsp;&nbsp; CRH America Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/09/2056 | 175000 | &nbsp;&nbsp; 174930 |
| &nbsp;&nbsp;&nbsp; CRH SMW Finance DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/21/2029 | 1152000 | &nbsp;&nbsp; 1194196 |
| &nbsp;&nbsp;&nbsp; GCC SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.61%, 04/20/2032 | 600000 | &nbsp;&nbsp; 563504 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 07/15/2031 | 1009000 | &nbsp;&nbsp; 917810 |
| &nbsp;&nbsp;&nbsp; Owens Corning |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/2027 | 262000 | &nbsp;&nbsp; 266794 |
| &nbsp;&nbsp;&nbsp; St. Marys Cement, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/02/2034 | 400000 | &nbsp;&nbsp; 416364 |
| &nbsp;&nbsp;&nbsp; Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/2034\* | 69000 | &nbsp;&nbsp; 68832 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/15/2031\* | 279000 | &nbsp;&nbsp; 257580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/15/2030\* | 202000 | &nbsp;&nbsp; 194877 |
|  |  | &nbsp;&nbsp; 5232820 |
| **Chemicals — 0.4%** | **Chemicals — 0.4%** | **Chemicals — 0.4%** |
| &nbsp;&nbsp;&nbsp; CF Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/26/2035 | 897000 | &nbsp;&nbsp; 912486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/15/2044 | 610000 | &nbsp;&nbsp; 584732 |
| &nbsp;&nbsp;&nbsp; Consolidated Energy Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/15/2028\* | 751000 | &nbsp;&nbsp; 630840 |
| &nbsp;&nbsp;&nbsp; Dow Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/2036# | 514000 | &nbsp;&nbsp; 515165 |
| &nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.32%, 11/15/2038 | 750000 | &nbsp;&nbsp; 761404 |
| &nbsp;&nbsp;&nbsp; Eastman Chemical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/20/2031 | 427000 | &nbsp;&nbsp; 426968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/08/2033 | 450000 | &nbsp;&nbsp; 478553 |
| &nbsp;&nbsp;&nbsp; Ecolab, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 12/15/2051 | 571000 | &nbsp;&nbsp; 360049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 06/15/2028 | 215000 | &nbsp;&nbsp; 217523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/2028 | 432000 | &nbsp;&nbsp; 443921 |
| &nbsp;&nbsp;&nbsp; EIDP, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/2032 | 1170000 | &nbsp;&nbsp; 1215748 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 11/01/2030\* | 935000 | &nbsp;&nbsp; 852648 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; MEGlobal BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/03/2026 | $590000 | &nbsp;&nbsp; $589275 |
| &nbsp;&nbsp;&nbsp; Methanex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/2029 | 569000 | &nbsp;&nbsp; 573767 |
| &nbsp;&nbsp;&nbsp; Methanex US Operations, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/2032\* | 135000 | &nbsp;&nbsp; 139725 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/01/2028\* | 510000 | &nbsp;&nbsp; 508088 |
| &nbsp;&nbsp;&nbsp; Nutrien, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/21/2027 | 283000 | &nbsp;&nbsp; 287418 |
| &nbsp;&nbsp;&nbsp; OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 04/30/2030 | 400000 | &nbsp;&nbsp; 417999 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/2031 | 581000 | &nbsp;&nbsp; 584735 |
| &nbsp;&nbsp;&nbsp; Sasol Financing USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 09/27/2028 | 350000 | &nbsp;&nbsp; 348595 |
| &nbsp;&nbsp;&nbsp; Sociedad Quimica y Minera de Chile SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/10/2034 | 350000 | &nbsp;&nbsp; 357875 |
| &nbsp;&nbsp;&nbsp; Westlake Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/2061 | 519000 | &nbsp;&nbsp; 315750 |
|  |  | &nbsp;&nbsp; 11523264 |
| **Coal — 0.0%** | **Coal — 0.0%** | **Coal — 0.0%** |
| &nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.88%, 12/01/2028\* | 141000 | &nbsp;&nbsp; 143820 |
| **Commercial Services — 0.7%** | **Commercial Services — 0.7%** | **Commercial Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Bidvest Group UK PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 09/17/2032\* | 200000 | &nbsp;&nbsp; 204396 |
| &nbsp;&nbsp;&nbsp; Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/2033\* | 75000 | &nbsp;&nbsp; 76214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 05/15/2032 | 245000 | &nbsp;&nbsp; 252046 |
| &nbsp;&nbsp;&nbsp; Champions Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 02/15/2029\*# | 584000 | &nbsp;&nbsp; 553681 |
| &nbsp;&nbsp;&nbsp; DP World, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 09/25/2048# | 544000 | &nbsp;&nbsp; 532257 |
| &nbsp;&nbsp;&nbsp; Element Fleet Management Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 03/25/2030\* | 900000 | &nbsp;&nbsp; 922562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 03/13/2027\* | 1520000 | &nbsp;&nbsp; 1542140 |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 03/15/2033\* | 530000 | &nbsp;&nbsp; 563183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 05/15/2032\* | 178000 | &nbsp;&nbsp; 190396 |
| &nbsp;&nbsp;&nbsp; Ford Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.82%, 06/01/2070 | 1378000 | &nbsp;&nbsp; 821343 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/15/2031\* | 590000 | &nbsp;&nbsp; 606145 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/2032 | 395000 | &nbsp;&nbsp; 397327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/15/2035 | 2239000 | &nbsp;&nbsp; 2227156 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 06/15/2030\* | 180000 | &nbsp;&nbsp; 188625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/2033\* | 375000 | &nbsp;&nbsp; 396400 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 12/01/2026\* | 95000 | &nbsp;&nbsp; 86541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.63%, 07/15/2029\* | 74000 | &nbsp;&nbsp; 68235 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 09/30/2032\* | 270000 | &nbsp;&nbsp; 216491 |
| &nbsp;&nbsp;&nbsp; Mobius Merger Sub, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 06/01/2030\* | 797000 | &nbsp;&nbsp; 542811 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.35%, 01/15/2032 | 1314000 | &nbsp;&nbsp; 1174528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 10/01/2030 | 432000 | &nbsp;&nbsp; 408622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/01/2041 | 920000 | &nbsp;&nbsp; 698938 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 08/09/2035# | $1100000 | &nbsp;&nbsp; $1120133 |
| &nbsp;&nbsp;&nbsp; S&P Global, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/01/2029 | 530000 | &nbsp;&nbsp; 512324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/2031\* | 278000 | &nbsp;&nbsp; 279277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub, <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 08/15/2032\* | 496000 | &nbsp;&nbsp; 485486 |
| &nbsp;&nbsp;&nbsp; Triton Container International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 06/15/2031\* | 1309000 | &nbsp;&nbsp; 1210934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Triton Container International, Ltd./TAL International <br> Container Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/2032 | 436000 | &nbsp;&nbsp; 404208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/15/2033 | 651000 | &nbsp;&nbsp; 650919 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/15/2031 | 448000 | &nbsp;&nbsp; 450182 |
| &nbsp;&nbsp;&nbsp; Veritiv Operating Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 11/30/2030\* | 514000 | &nbsp;&nbsp; 549965 |
| &nbsp;&nbsp;&nbsp; VM Consolidated, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/2029\* | 452000 | &nbsp;&nbsp; 443671 |
| &nbsp;&nbsp;&nbsp; WEX, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/2033\* | 451000 | &nbsp;&nbsp; 453272 |
|  |  | &nbsp;&nbsp; 19230408 |
| **Computers — 0.6%** | **Computers — 0.6%** | **Computers — 0.6%** |
| &nbsp;&nbsp;&nbsp; Accenture Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/04/2034 | 608000 | &nbsp;&nbsp; 601449 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.40%, 08/05/2028 | 925000 | &nbsp;&nbsp; 879764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.65%, 05/11/2050 | 797000 | &nbsp;&nbsp; 507799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 08/05/2051 | 701000 | &nbsp;&nbsp; 445829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 08/08/2052 | 706000 | &nbsp;&nbsp; 568767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/13/2045 | 411000 | &nbsp;&nbsp; 371927 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/01/2029\*# | 401000 | &nbsp;&nbsp; 392890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/15/2035# | 851000 | &nbsp;&nbsp; 863270 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/2033\* | 232000 | &nbsp;&nbsp; 238842 |
| &nbsp;&nbsp;&nbsp; Dell International LLC/EMC Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 12/15/2041 | 1856000 | &nbsp;&nbsp; 1435087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 02/01/2030 | 839000 | &nbsp;&nbsp; 843309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/01/2028 | 660000 | &nbsp;&nbsp; 670562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 04/01/2032 | 1800000 | &nbsp;&nbsp; 1869397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.10%, 07/15/2036 | 473000 | &nbsp;&nbsp; 575162 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 10/15/2030 | 403000 | &nbsp;&nbsp; 403532 |
| &nbsp;&nbsp;&nbsp; IBM International Capital Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/05/2031 | 1115000 | &nbsp;&nbsp; 1135862 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/03/2033 | 637000 | &nbsp;&nbsp; 641961 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 10/15/2031 | 399000 | &nbsp;&nbsp; 338853 |
| &nbsp;&nbsp;&nbsp; Leidos, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/15/2030 | 1033000 | &nbsp;&nbsp; 1036687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/2033 | 587000 | &nbsp;&nbsp; 623275 |
| &nbsp;&nbsp;&nbsp; NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/15/2029\* | 31000 | &nbsp;&nbsp; 30416 |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 06/01/2029\* | 192000 | &nbsp;&nbsp; 188312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 01/15/2031\* | 143000 | &nbsp;&nbsp; 137073 |
|  |  | &nbsp;&nbsp; 14800025 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/2029\* | $660000 | &nbsp;&nbsp; $636871 |
| &nbsp;&nbsp;&nbsp; Haleon US Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/24/2032 | 1000000 | &nbsp;&nbsp; 963522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/24/2052 | 545000 | &nbsp;&nbsp; 438024 |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/22/2032 | 401000 | &nbsp;&nbsp; 414443 |
| &nbsp;&nbsp;&nbsp; Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/30/2032 | 575000 | &nbsp;&nbsp; 562624 |
|  |  | &nbsp;&nbsp; 3015484 |
| **Diversified Financial Services — 1.5%** | **Diversified Financial Services — 1.5%** | **Diversified Financial Services — 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 10/29/2026 | 1169000 | &nbsp;&nbsp; 1157687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/10/2029 | 1160000 | &nbsp;&nbsp; 1176231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/15/2033 | 415000 | &nbsp;&nbsp; 415813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/15/2035 | 490000 | &nbsp;&nbsp; 489282 |
| &nbsp;&nbsp;&nbsp; Air Lease Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/15/2026(3) | 240000 | &nbsp;&nbsp; 237961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/15/2026(3) | 342000 | &nbsp;&nbsp; 339871 |
| &nbsp;&nbsp;&nbsp; Aircastle, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/2026\*(3) | 677000 | &nbsp;&nbsp; 676593 |
| &nbsp;&nbsp;&nbsp; Aircastle, Ltd./Aircastle Ireland DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/2030\* | 402000 | &nbsp;&nbsp; 411031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/2030\* | 449000 | &nbsp;&nbsp; 463487 |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 01/17/2040 | 689000 | &nbsp;&nbsp; 687385 |
| &nbsp;&nbsp;&nbsp; American Express Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/24/2036 | 525000 | &nbsp;&nbsp; 519952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 07/20/2033 | 699000 | &nbsp;&nbsp; 716036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 01/30/2031 | 393000 | &nbsp;&nbsp; 406035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/16/2028 | 1185000 | &nbsp;&nbsp; 1197178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 01/30/2036 | 775000 | &nbsp;&nbsp; 807701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 04/25/2036 | 312000 | &nbsp;&nbsp; 330414 |
| &nbsp;&nbsp;&nbsp; Aviation Capital Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 04/10/2030\* | 635000 | &nbsp;&nbsp; 652401 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/2029\* | 445000 | &nbsp;&nbsp; 443814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/01/2026\* | 12000000 | &nbsp;&nbsp; 12000744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 01/30/2031\* | 535000 | &nbsp;&nbsp; 536868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/01/2033\* | 710000 | &nbsp;&nbsp; 703730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/2028\* | 465000 | &nbsp;&nbsp; 471176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 01/15/2030\* | 715000 | &nbsp;&nbsp; 732198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2029\* | 210000 | &nbsp;&nbsp; 218470 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/15/2031\* | 405000 | &nbsp;&nbsp; 412629 |
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/15/2028\* | 215000 | &nbsp;&nbsp; 213791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/15/2030\* | 244000 | &nbsp;&nbsp; 236764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Caja de Compensacion de Asignacion Familiar de <br> Los Andes<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 07/30/2029\* | 550000 | &nbsp;&nbsp; 582355 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 09/11/2036 | 970000 | &nbsp;&nbsp; 967315 |
| &nbsp;&nbsp;&nbsp; Cobra AcquisitionCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/01/2029\* | 681000 | &nbsp;&nbsp; 589110 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 03/15/2030\* | 475000 | &nbsp;&nbsp; 472523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 12/15/2028\* | 261000 | &nbsp;&nbsp; 272707 |
| &nbsp;&nbsp;&nbsp; Equitable America Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/15/2028\* | 397000 | &nbsp;&nbsp; 399011 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/2031\* | $577000 | &nbsp;&nbsp; $573964 |
| &nbsp;&nbsp;&nbsp; goeasy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/15/2030\* | 426000 | &nbsp;&nbsp; 374417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/15/2031\* | 285000 | &nbsp;&nbsp; 245828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 07/01/2029\* | 140000 | &nbsp;&nbsp; 131247 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 11/01/2032\* | 598000 | &nbsp;&nbsp; 601571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/01/2033\* | 121000 | &nbsp;&nbsp; 124168 |
| &nbsp;&nbsp;&nbsp; Macquarie Airfinance Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/17/2030\* | 735000 | &nbsp;&nbsp; 750997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/27/2028\* | 600000 | &nbsp;&nbsp; 610042 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 01/15/2032 | 567000 | &nbsp;&nbsp; 574684 |
| &nbsp;&nbsp;&nbsp; Nasdaq, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/2053 | 303000 | &nbsp;&nbsp; 314064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/28/2063 | 363000 | &nbsp;&nbsp; 377001 |
| &nbsp;&nbsp;&nbsp; Phoenix Aviation Capital, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 07/15/2030\* | 555000 | &nbsp;&nbsp; 581331 |
| &nbsp;&nbsp;&nbsp; Planet Financial Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 12/15/2029\* | 692000 | &nbsp;&nbsp; 668139 |
| &nbsp;&nbsp;&nbsp; Rfna LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/15/2030\* | 585000 | &nbsp;&nbsp; 582369 |
| &nbsp;&nbsp;&nbsp; Stellantis Financial Services US Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/15/2028\* | 335000 | &nbsp;&nbsp; 337757 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/25/2032 | 430000 | &nbsp;&nbsp; 427462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/19/2029 | 758000 | &nbsp;&nbsp; 770294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 08/02/2030 | 460000 | &nbsp;&nbsp; 477375 |
| &nbsp;&nbsp;&nbsp; USAA Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/01/2028\* | 555000 | &nbsp;&nbsp; 561907 |
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/15/2031\* | 587000 | &nbsp;&nbsp; 610961 |
| &nbsp;&nbsp;&nbsp; Visa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/12/2033 | 345000 | &nbsp;&nbsp; 348910 |
|  |  | &nbsp;&nbsp; 39982751 |
| **Electric — 3.3%** | **Electric — 3.3%** | **Electric — 3.3%** |
| &nbsp;&nbsp;&nbsp; AEP Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 10/15/2055 | 611000 | &nbsp;&nbsp; 610754 |
| &nbsp;&nbsp;&nbsp; AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 06/15/2052 | 218000 | &nbsp;&nbsp; 186376 |
| &nbsp;&nbsp;&nbsp; AES Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 01/15/2031# | 2007000 | &nbsp;&nbsp; 1861080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/2028 | 778000 | &nbsp;&nbsp; 795971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/2032 | 920000 | &nbsp;&nbsp; 961047 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/30/2029\* | 504000 | &nbsp;&nbsp; 529747 |
| &nbsp;&nbsp;&nbsp; Ameren Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/01/2026 | 452000 | &nbsp;&nbsp; 456994 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/01/2033 | 383000 | &nbsp;&nbsp; 406277 |
| &nbsp;&nbsp;&nbsp; Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/01/2054 | 570000 | &nbsp;&nbsp; 576165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; California Buyer, Ltd./Atlantica Sustainable <br> Infrastructure PLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 02/15/2032\* | 554000 | &nbsp;&nbsp; 552370 |
| &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/2032\* | 631000 | &nbsp;&nbsp; 586852 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/01/2050 | 455000 | &nbsp;&nbsp; 450114 |
| &nbsp;&nbsp;&nbsp; Cometa Energia SA de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/24/2035 | 573300 | &nbsp;&nbsp; 601302 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; Consolidated Edison Co. of New York, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 04/01/2050 | $715000 | &nbsp;&nbsp; $566265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 05/15/2049 | 378000 | &nbsp;&nbsp; 305385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/15/2044 | 713000 | &nbsp;&nbsp; 630930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/2045 | 338000 | &nbsp;&nbsp; 297231 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/15/2042 | 2500000 | &nbsp;&nbsp; 2539131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/01/2041 | 1000000 | &nbsp;&nbsp; 1039771 |
| &nbsp;&nbsp;&nbsp; Dhafrah Pv2 Energy Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 06/30/2053\* | 450000 | &nbsp;&nbsp; 463515 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/01/2033 | 1850000 | &nbsp;&nbsp; 1915549 |
| &nbsp;&nbsp;&nbsp; DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/01/2049 | 1045000 | &nbsp;&nbsp; 840076 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/01/2028 | 458000 | &nbsp;&nbsp; 466820 |
| &nbsp;&nbsp;&nbsp; Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 03/15/2052 | 618000 | &nbsp;&nbsp; 453815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 01/15/2054 | 475000 | &nbsp;&nbsp; 465225 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/2055 | 570000 | &nbsp;&nbsp; 558831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 06/15/2054 | 345000 | &nbsp;&nbsp; 342088 |
| &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 11/15/2052 | 706000 | &nbsp;&nbsp; 739608 |
| &nbsp;&nbsp;&nbsp; Duke Energy Ohio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 04/01/2053 | 507000 | &nbsp;&nbsp; 509626 |
| &nbsp;&nbsp;&nbsp; Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 04/01/2052 | 1000000 | &nbsp;&nbsp; 788134 |
| &nbsp;&nbsp;&nbsp; Emera US Finance LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/2046 | 1673000 | &nbsp;&nbsp; 1446479 |
| &nbsp;&nbsp;&nbsp; Enel Finance International NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/06/2028\* | 1128000 | &nbsp;&nbsp; 1116674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/25/2047\* | 1025000 | &nbsp;&nbsp; 903379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/26/2029\* | 323000 | &nbsp;&nbsp; 332765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/14/2052\* | 1090000 | &nbsp;&nbsp; 1343535 |
| &nbsp;&nbsp;&nbsp; Engie SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/10/2029\* | 510000 | &nbsp;&nbsp; 528896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/10/2054\* | 577000 | &nbsp;&nbsp; 589355 |
| &nbsp;&nbsp;&nbsp; Entergy Arkansas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/15/2036 | 170000 | &nbsp;&nbsp; 171599 |
| &nbsp;&nbsp;&nbsp; Entergy Mississippi LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/2051 | 490000 | &nbsp;&nbsp; 350527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/2049 | 256000 | &nbsp;&nbsp; 200018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 06/01/2054 | 360000 | &nbsp;&nbsp; 363302 |
| &nbsp;&nbsp;&nbsp; Entergy Texas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/30/2039 | 2730000 | &nbsp;&nbsp; 2580957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/2052 | 326000 | &nbsp;&nbsp; 293411 |
| &nbsp;&nbsp;&nbsp; Evergy Kansas Central, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/13/2028 | 158000 | &nbsp;&nbsp; 160322 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/15/2047 | 489000 | &nbsp;&nbsp; 435877 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Pennsylvania Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/01/2028\* | 2159000 | &nbsp;&nbsp; 2207936 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 04/01/2049\* | 1850000 | &nbsp;&nbsp; 1601695 |
| &nbsp;&nbsp;&nbsp; Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/2029 | 578000 | &nbsp;&nbsp; 601818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 02/15/2066 | 241000 | &nbsp;&nbsp; 239610 |
| &nbsp;&nbsp;&nbsp; Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 03/15/2051 | 2015000 | &nbsp;&nbsp; 1406516 |
| &nbsp;&nbsp;&nbsp; Indiana Michigan Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/2056 | 220000 | &nbsp;&nbsp; 219275 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; Interstate Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/30/2049 | $1417000 | &nbsp;&nbsp; $1031795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 09/30/2034 | 340000 | &nbsp;&nbsp; 344133 |
| &nbsp;&nbsp;&nbsp; ITC Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 07/01/2043 | 320000 | &nbsp;&nbsp; 309019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/09/2034\* | 455000 | &nbsp;&nbsp; 479544 |
| &nbsp;&nbsp;&nbsp; Jersey Central Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 01/15/2035 | 255000 | &nbsp;&nbsp; 261899 |
| &nbsp;&nbsp;&nbsp; Kallpa Generacion SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/11/2035\*# | 600000 | &nbsp;&nbsp; 607500 |
| &nbsp;&nbsp;&nbsp; Kentucky Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 11/15/2033\* | 806000 | &nbsp;&nbsp; 886168 |
| &nbsp;&nbsp;&nbsp; Kentucky Utilities Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/15/2055 | 171000 | &nbsp;&nbsp; 175898 |
| &nbsp;&nbsp;&nbsp; Liberty Utilities Finance GP 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.05%, 09/15/2030\* | 395000 | &nbsp;&nbsp; 362289 |
| &nbsp;&nbsp;&nbsp; LLPL Capital Pte, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/04/2039 | 458184 | &nbsp;&nbsp; 477883 |
| &nbsp;&nbsp;&nbsp; Minejesa Capital BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/10/2030 | 421850 | &nbsp;&nbsp; 421989 |
| &nbsp;&nbsp;&nbsp; Narragansett Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/01/2034\* | 358000 | &nbsp;&nbsp; 370983 |
| &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/10/2027 | 670000 | &nbsp;&nbsp; 672209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.12%, 09/16/2027 | 411000 | &nbsp;&nbsp; 412949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/25/2028 | 200000 | &nbsp;&nbsp; 201402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/07/2028 | 211000 | &nbsp;&nbsp; 214597 |
| &nbsp;&nbsp;&nbsp; New York State Electric & Gas Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/15/2033\* | 1406000 | &nbsp;&nbsp; 1509311 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 09/01/2027 | 270000 | &nbsp;&nbsp; 273062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/15/2032 | 610000 | &nbsp;&nbsp; 639423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/15/2055 | 188000 | &nbsp;&nbsp; 191155 |
| &nbsp;&nbsp;&nbsp; Niagara Energy SAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/03/2034\*# | 540000 | &nbsp;&nbsp; 558864 |
| &nbsp;&nbsp;&nbsp; Niagara Mohawk Power Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 07/03/2055\* | 300000 | &nbsp;&nbsp; 306322 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 02/15/2031\* | 889000 | &nbsp;&nbsp; 839151 |
| &nbsp;&nbsp;&nbsp; OGE Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 05/15/2029 | 235000 | &nbsp;&nbsp; 244825 |
| &nbsp;&nbsp;&nbsp; Oklahoma Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/2053 | 326000 | &nbsp;&nbsp; 323921 |
| &nbsp;&nbsp;&nbsp; Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 06/01/2032 | 1088000 | &nbsp;&nbsp; 1078141 |
| &nbsp;&nbsp;&nbsp; Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 12/01/2047 | 1837000 | &nbsp;&nbsp; 1398587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/2045 | 2322000 | &nbsp;&nbsp; 1879805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/01/2050 | 602000 | &nbsp;&nbsp; 521183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/01/2035 | 1780000 | &nbsp;&nbsp; 1855942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/15/2034 | 127000 | &nbsp;&nbsp; 133995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/2035 | 45000 | &nbsp;&nbsp; 47948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 10/15/2055 | 736000 | &nbsp;&nbsp; 737519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/15/2033 | 157000 | &nbsp;&nbsp; 171057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pattern Energy Operations LP/Pattern Energy <br> Operations, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/2028\* | 778000 | &nbsp;&nbsp; 768986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Perusahaan Perseroan Persero PT Perusahaan Listrik <br> Negara<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/17/2049 | 900000 | &nbsp;&nbsp; 766308 |
| &nbsp;&nbsp;&nbsp; PG&E Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 06/01/2042 | 1155000 | &nbsp;&nbsp; 1189995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 06/01/2051 | 1370000 | &nbsp;&nbsp; 1416547 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/01/2034 | $203000 | &nbsp;&nbsp; $209748 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 01/15/2051 | 3123000 | &nbsp;&nbsp; 1913608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 06/15/2028 | 476000 | &nbsp;&nbsp; 474796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 06/15/2048 | 1341000 | &nbsp;&nbsp; 1090909 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of Oklahoma |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 08/15/2031 | 1619000 | &nbsp;&nbsp; 1450227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/15/2036 | 1735000 | &nbsp;&nbsp; 1797674 |
| &nbsp;&nbsp;&nbsp; Puget Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 03/15/2035 | 365000 | &nbsp;&nbsp; 377655 |
| &nbsp;&nbsp;&nbsp; Puget Sound Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 06/15/2054 | 333000 | &nbsp;&nbsp; 336518 |
| &nbsp;&nbsp;&nbsp; RWE Finance US LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/18/2055\* | 530000 | &nbsp;&nbsp; 527100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/16/2054\* | 596000 | &nbsp;&nbsp; 622026 |
| &nbsp;&nbsp;&nbsp; Saavi Energia SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 02/10/2035\* | 410000 | &nbsp;&nbsp; 452640 |
| &nbsp;&nbsp;&nbsp; San Diego Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 04/15/2054 | 392000 | &nbsp;&nbsp; 386150 |
| &nbsp;&nbsp;&nbsp; SCE Recovery Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 03/15/2047 | 580000 | &nbsp;&nbsp; 595642 |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/01/2034 | 1500000 | &nbsp;&nbsp; 1524885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 06/01/2031 | 1650000 | &nbsp;&nbsp; 1728547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 12/01/2053 | 237000 | &nbsp;&nbsp; 232849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 03/01/2055 | 435000 | &nbsp;&nbsp; 428702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 09/15/2055 | 352000 | &nbsp;&nbsp; 362486 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/01/2034\* | 302000 | &nbsp;&nbsp; 307314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/2036\* | 302000 | &nbsp;&nbsp; 310507 |
| &nbsp;&nbsp;&nbsp; Trans-Allegheny Interstate Line Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/2031\* | 292000 | &nbsp;&nbsp; 301808 |
| &nbsp;&nbsp;&nbsp; Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 04/01/2052 | 856000 | &nbsp;&nbsp; 665912 |
| &nbsp;&nbsp;&nbsp; Virginia Electric & Power Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/2054 | 163000 | &nbsp;&nbsp; 158545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/2055 | 1600000 | &nbsp;&nbsp; 1575330 |
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 10/15/2028\* | 507000 | &nbsp;&nbsp; 507523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/31/2027\* | 381000 | &nbsp;&nbsp; 380451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/30/2034\* | 3000000 | &nbsp;&nbsp; 3108984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/15/2034\* | 101000 | &nbsp;&nbsp; 107072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2031\* | 160000 | &nbsp;&nbsp; 169082 |
| &nbsp;&nbsp;&nbsp; Wisconsin Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/01/2032 | 306000 | &nbsp;&nbsp; 298895 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 01/15/2029\*# | 398000 | &nbsp;&nbsp; 413104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 01/15/2031\* | 730000 | &nbsp;&nbsp; 772961 |
|  |  | &nbsp;&nbsp; 86262949 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; EnerSys |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/15/2027\* | 230000 | &nbsp;&nbsp; 229046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/2032\* | 160000 | &nbsp;&nbsp; 165037 |
| &nbsp;&nbsp;&nbsp; WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/15/2033\* | 442000 | &nbsp;&nbsp; 460838 |
|  |  | &nbsp;&nbsp; 854921 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| &nbsp;&nbsp;&nbsp; Allegion US Holding Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 07/01/2032 | 400000 | &nbsp;&nbsp; 417914 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 05/29/2034 | $377000 | &nbsp;&nbsp; $398104 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/15/2028 | 376000 | &nbsp;&nbsp; 377619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/15/2030 | 399000 | &nbsp;&nbsp; 401005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/05/2034 | 385000 | &nbsp;&nbsp; 403302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/15/2055 | 1213000 | &nbsp;&nbsp; 1174593 |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/2029\* | 320000 | &nbsp;&nbsp; 314578 |
| &nbsp;&nbsp;&nbsp; Trimble, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 03/15/2033 | 284000 | &nbsp;&nbsp; 302655 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/01/2029\* | 606000 | &nbsp;&nbsp; 588094 |
| &nbsp;&nbsp;&nbsp; Tyco Electronics Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/09/2036 | 441000 | &nbsp;&nbsp; 447976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/09/2035# | 537000 | &nbsp;&nbsp; 550357 |
| &nbsp;&nbsp;&nbsp; Vontier Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/01/2031 | 789000 | &nbsp;&nbsp; 732979 |
|  |  | &nbsp;&nbsp; 6109176 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp; India Green Power Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 02/22/2027 | 280000 | &nbsp;&nbsp; 274986 |
| **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** |
| &nbsp;&nbsp;&nbsp; Jacobs Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/03/2036 | 252000 | &nbsp;&nbsp; 252043 |
| &nbsp;&nbsp;&nbsp; MasTec, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 06/15/2029 | 370000 | &nbsp;&nbsp; 388348 |
|  |  | &nbsp;&nbsp; 640391 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 05/01/2029\* | 521000 | &nbsp;&nbsp; 539321 |
| &nbsp;&nbsp;&nbsp; Flutter Treasury DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/04/2031\* | 555000 | &nbsp;&nbsp; 553409 |
| &nbsp;&nbsp;&nbsp; Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/01/2033\* | 405000 | &nbsp;&nbsp; 406750 |
| &nbsp;&nbsp;&nbsp; Ontario Gaming GTA LP/OTG Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 08/01/2030\* | 594000 | &nbsp;&nbsp; 574164 |
| &nbsp;&nbsp;&nbsp; SeaWorld Parks & Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 08/15/2029\* | 478000 | &nbsp;&nbsp; 463665 |
| &nbsp;&nbsp;&nbsp; Voyager Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 07/01/2032\* | 685000 | &nbsp;&nbsp; 731457 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/2042 | 585000 | &nbsp;&nbsp; 410963 |
|  |  | &nbsp;&nbsp; 3679729 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2033\* | 505000 | &nbsp;&nbsp; 516936 |
| &nbsp;&nbsp;&nbsp; GFL Environmental Holdings US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/01/2034\* | 315000 | &nbsp;&nbsp; 316133 |
| &nbsp;&nbsp;&nbsp; Waste Connections, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.20%, 01/15/2032 | 568000 | &nbsp;&nbsp; 509284 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 07/03/2027 | 570000 | &nbsp;&nbsp; 578748 |
|  |  | &nbsp;&nbsp; 1921101 |
| **Food — 0.8%** | **Food — 0.8%** | **Food — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New Albertsons <br> LP/Albertsons LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/31/2034\* | 315000 | &nbsp;&nbsp; 313434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/2033\* | 690000 | &nbsp;&nbsp; 711514 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp; Bimbo Bakeries USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/09/2036\* | $1167000 | &nbsp;&nbsp; $1205650 |
| &nbsp;&nbsp;&nbsp; Conagra Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/01/2028 | 575000 | &nbsp;&nbsp; 614962 |
| &nbsp;&nbsp;&nbsp; Hershey Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 02/24/2028 | 323000 | &nbsp;&nbsp; 328296 |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/30/2027 | 539000 | &nbsp;&nbsp; 544610 |
| &nbsp;&nbsp;&nbsp; Indofood CBP Sukses Makmur Tbk PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 04/27/2032 | 400000 | &nbsp;&nbsp; 373943 |
| &nbsp;&nbsp;&nbsp; Industrial F&B Investments III, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/11/2033\* | 525000 | &nbsp;&nbsp; 538825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JBS NV/JBS USA Foods Group Holdings, Inc./JBS <br> USA Food Co. Holdings<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/2036 | 1300000 | &nbsp;&nbsp; 1334046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 04/20/2035 | 295000 | &nbsp;&nbsp; 312780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/15/2066 | 895000 | &nbsp;&nbsp; 910985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JBS USA Holding LUX SARL/JBS USA Food Co./JBS <br> LUX Co. SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/15/2032 | 855000 | &nbsp;&nbsp; 778524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/01/2031 | 1100000 | &nbsp;&nbsp; 1049133 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 12/01/2052 | 600000 | &nbsp;&nbsp; 633990 |
| &nbsp;&nbsp;&nbsp; Kellanova |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 04/01/2031 | 887000 | &nbsp;&nbsp; 1021948 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Foods Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/01/2046 | 2127000 | &nbsp;&nbsp; 1745840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/2049 | 387000 | &nbsp;&nbsp; 333605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/2032 | 290000 | &nbsp;&nbsp; 300617 |
| &nbsp;&nbsp;&nbsp; Kroger Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2046 | 472000 | &nbsp;&nbsp; 373259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/15/2034 | 567000 | &nbsp;&nbsp; 576513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/15/2054 | 720000 | &nbsp;&nbsp; 696026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 09/15/2064 | 835000 | &nbsp;&nbsp; 807093 |
| &nbsp;&nbsp;&nbsp; Land O'Lakes Capital Trust I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 03/15/2028\* | 379000 | &nbsp;&nbsp; 389423 |
| &nbsp;&nbsp;&nbsp; Mars, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/20/2031\* | 703000 | &nbsp;&nbsp; 723294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 05/01/2045\* | 1754000 | &nbsp;&nbsp; 1795016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 05/01/2055\* | 324000 | &nbsp;&nbsp; 328553 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/01/2029\* | 150000 | &nbsp;&nbsp; 147170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/01/2034\* | 270000 | &nbsp;&nbsp; 270903 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2034\*# | 413000 | &nbsp;&nbsp; 421809 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 07/25/2031 | 300000 | &nbsp;&nbsp; 301102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/15/2048 | 392000 | &nbsp;&nbsp; 335965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/01/2046 | 311000 | &nbsp;&nbsp; 269808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/23/2030 | 360000 | &nbsp;&nbsp; 373716 |
|  |  | &nbsp;&nbsp; 20862352 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp; Georgia-Pacific LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 06/30/2028\* | 195000 | &nbsp;&nbsp; 197371 |
| &nbsp;&nbsp;&nbsp; Inversiones CMPC SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/26/2034\*# | 550000 | &nbsp;&nbsp; 562224 |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/2030 | 200000 | &nbsp;&nbsp; 201626 |
| &nbsp;&nbsp;&nbsp; Suzano Netherlands BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/2036 | 550000 | &nbsp;&nbsp; 555775 |
|  |  | &nbsp;&nbsp; 1516996 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp; Atmos Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2052 | $509000 | &nbsp;&nbsp; $522539 |
| &nbsp;&nbsp;&nbsp; KeySpan Gas East Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 03/06/2033\* | 1559000 | &nbsp;&nbsp; 1665579 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/01/2029 | 750000 | &nbsp;&nbsp; 776636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 04/01/2055 | 164000 | &nbsp;&nbsp; 165411 |
| &nbsp;&nbsp;&nbsp; Southern California Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 04/01/2054 | 586000 | &nbsp;&nbsp; 577187 |
| &nbsp;&nbsp;&nbsp; Southern Co. Gas Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 09/15/2035 | 380000 | &nbsp;&nbsp; 387017 |
|  |  | &nbsp;&nbsp; 4094369 |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.71%, 03/15/2060 | 733000 | &nbsp;&nbsp; 736083 |
| **Healthcare-Products — 0.4%** | **Healthcare-Products — 0.4%** | **Healthcare-Products — 0.4%** |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/2038 | 352000 | &nbsp;&nbsp; 350955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/15/2056 | 373000 | &nbsp;&nbsp; 374282 |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 03/12/2031 | 893000 | &nbsp;&nbsp; 815488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/15/2029 | 704000 | &nbsp;&nbsp; 674679 |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/01/2029\* | 605000 | &nbsp;&nbsp; 577563 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 12/15/2035 | 239000 | &nbsp;&nbsp; 243034 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/15/2027 | 705000 | &nbsp;&nbsp; 724364 |
| &nbsp;&nbsp;&nbsp; Insulet Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 04/01/2033\* | 496000 | &nbsp;&nbsp; 515877 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/01/2029\* | 396000 | &nbsp;&nbsp; 389470 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/01/2029\* | 185000 | &nbsp;&nbsp; 190915 |
| &nbsp;&nbsp;&nbsp; Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/23/2034 | 904000 | &nbsp;&nbsp; 945173 |
| &nbsp;&nbsp;&nbsp; STERIS PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 03/15/2051 | 597000 | &nbsp;&nbsp; 454249 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/08/2028 | 769000 | &nbsp;&nbsp; 789956 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 10/07/2032 | 406000 | &nbsp;&nbsp; 410590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 02/12/2036 | 915000 | &nbsp;&nbsp; 930865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/31/2029 | 980000 | &nbsp;&nbsp; 1012362 |
|  |  | &nbsp;&nbsp; 9399822 |
| **Healthcare-Services — 0.8%** | **Healthcare-Services — 0.8%** | **Healthcare-Services — 0.8%** |
| &nbsp;&nbsp;&nbsp; Cigna Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 03/15/2031 | 296000 | &nbsp;&nbsp; 271299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/15/2030 | 561000 | &nbsp;&nbsp; 527759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 03/15/2040 | 1423000 | &nbsp;&nbsp; 1137286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/15/2050 | 880000 | &nbsp;&nbsp; 623697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 10/15/2047 | 225000 | &nbsp;&nbsp; 175142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/2028 | 289000 | &nbsp;&nbsp; 291998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 05/15/2029 | 485000 | &nbsp;&nbsp; 499769 |
| &nbsp;&nbsp;&nbsp; Concentra Health Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 07/15/2032\* | 541000 | &nbsp;&nbsp; 564882 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/2055 | 239000 | &nbsp;&nbsp; 236161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 10/15/2052# | 515000 | &nbsp;&nbsp; 534344 |
| &nbsp;&nbsp;&nbsp; HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/15/2029 | 747000 | &nbsp;&nbsp; 733937 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/2030 | $1496000 | &nbsp;&nbsp; $1449272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/15/2051 | 1634000 | &nbsp;&nbsp; 1127927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 03/15/2032 | 303000 | &nbsp;&nbsp; 288720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/2052 | 624000 | &nbsp;&nbsp; 516825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 11/15/2035 | 700000 | &nbsp;&nbsp; 697084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/2049 | 638000 | &nbsp;&nbsp; 584904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 04/01/2031 | 1082000 | &nbsp;&nbsp; 1133061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/2032 | 428000 | &nbsp;&nbsp; 449005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2035 | 727000 | &nbsp;&nbsp; 769582 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/01/2030 | 382000 | &nbsp;&nbsp; 387368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/2033 | 479000 | &nbsp;&nbsp; 501438 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 12/15/2034 | 474000 | &nbsp;&nbsp; 485533 |
| &nbsp;&nbsp;&nbsp; Roche Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 12/02/2032\*# | 436000 | &nbsp;&nbsp; 440903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 11/13/2030\* | 1717000 | &nbsp;&nbsp; 1827030 |
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 06/01/2031\* | 447000 | &nbsp;&nbsp; 470342 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 10/01/2030\* | 480000 | &nbsp;&nbsp; 487183 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2032\* | 340000 | &nbsp;&nbsp; 344227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/2033\* | 425000 | &nbsp;&nbsp; 439208 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 06/15/2048 | 706000 | &nbsp;&nbsp; 583140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/2052 | 1335000 | &nbsp;&nbsp; 1162635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/2031 | 401000 | &nbsp;&nbsp; 414577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/2062 | 569000 | &nbsp;&nbsp; 496532 |
|  |  | &nbsp;&nbsp; 20652770 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 08/01/2033\* | 570000 | &nbsp;&nbsp; 575329 |
| &nbsp;&nbsp;&nbsp; Lennar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 07/30/2030 | 265000 | &nbsp;&nbsp; 274445 |
| &nbsp;&nbsp;&nbsp; Mattamy Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/01/2030\* | 575000 | &nbsp;&nbsp; 561357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/15/2033\* | 110000 | &nbsp;&nbsp; 108271 |
|  |  | &nbsp;&nbsp; 1519402 |
| **Insurance — 0.8%** | **Insurance — 0.8%** | **Insurance — 0.8%** |
| &nbsp;&nbsp;&nbsp; Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/01/2032\* | 568000 | &nbsp;&nbsp; 557065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co.-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/2031\* | 512000 | &nbsp;&nbsp; 514810 |
| &nbsp;&nbsp;&nbsp; Aon North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/2031 | 2030000 | &nbsp;&nbsp; 2118870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2054 | 434000 | &nbsp;&nbsp; 429574 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/02/2053 | 357000 | &nbsp;&nbsp; 347098 |
| &nbsp;&nbsp;&nbsp; Assurant, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 02/15/2036 | 523000 | &nbsp;&nbsp; 531371 |
| &nbsp;&nbsp;&nbsp; Asurion LLC & Asurion Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 12/31/2032\* | 1015000 | &nbsp;&nbsp; 1066063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 02/01/2034\* | 246000 | &nbsp;&nbsp; 244811 |
| &nbsp;&nbsp;&nbsp; Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.73%, 10/02/2026\* | 1718000 | &nbsp;&nbsp; 1694440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 05/15/2031\* | 348000 | &nbsp;&nbsp; 349141 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; Chubb INA Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/15/2029 | $797000 | &nbsp;&nbsp; $818054 |
| &nbsp;&nbsp;&nbsp; Equitable Financial Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.30%, 07/12/2026\* | 1393000 | &nbsp;&nbsp; 1379389 |
| &nbsp;&nbsp;&nbsp; F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/04/2029 | 685000 | &nbsp;&nbsp; 705103 |
| &nbsp;&nbsp;&nbsp; F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 04/11/2027\* | 1082000 | &nbsp;&nbsp; 1059604 |
| &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 02/01/2061\* | 960000 | &nbsp;&nbsp; 645179 |
| &nbsp;&nbsp;&nbsp; Manulife Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 12/11/2035 | 333000 | &nbsp;&nbsp; 334136 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 11/08/2027 | 423000 | &nbsp;&nbsp; 426891 |
| &nbsp;&nbsp;&nbsp; Meiji Yasuda Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/11/2054\* | 703000 | &nbsp;&nbsp; 716738 |
| &nbsp;&nbsp;&nbsp; New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/09/2028\* | 291000 | &nbsp;&nbsp; 296645 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 09/15/2027\* | 379000 | &nbsp;&nbsp; 382173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 05/28/2031\* | 1000000 | &nbsp;&nbsp; 1043316 |
| &nbsp;&nbsp;&nbsp; Northwestern Mutual Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 05/29/2055\* | 240000 | &nbsp;&nbsp; 258955 |
| &nbsp;&nbsp;&nbsp; Pacific Life Insurance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/15/2055\* | 506000 | &nbsp;&nbsp; 514024 |
| &nbsp;&nbsp;&nbsp; Panther Escrow Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 06/01/2031\* | 605000 | &nbsp;&nbsp; 615494 |
| &nbsp;&nbsp;&nbsp; Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 08/27/2031\* | 298000 | &nbsp;&nbsp; 303391 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.91%, 12/07/2047 | 428000 | &nbsp;&nbsp; 329849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 09/15/2048 | 348000 | &nbsp;&nbsp; 350441 |
| &nbsp;&nbsp;&nbsp; Prudential Funding Asia PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/14/2030 | 396000 | &nbsp;&nbsp; 382388 |
| &nbsp;&nbsp;&nbsp; Unum Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 12/15/2035 | 287000 | &nbsp;&nbsp; 285475 |
| &nbsp;&nbsp;&nbsp; Willis North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/15/2031 | 409000 | &nbsp;&nbsp; 409291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 06/15/2027 | 705000 | &nbsp;&nbsp; 709627 |
|  |  | &nbsp;&nbsp; 19819406 |
| **Internet — 0.6%** | **Internet — 0.6%** | **Internet — 0.6%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/15/2033 | 523000 | &nbsp;&nbsp; 527610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/2065 | 336000 | &nbsp;&nbsp; 318595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/2045 | 343000 | &nbsp;&nbsp; 344482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/2046 | 530000 | &nbsp;&nbsp; 539699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/15/2056 | 775000 | &nbsp;&nbsp; 793025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/15/2075 | 343000 | &nbsp;&nbsp; 342774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/15/2066 | 475000 | &nbsp;&nbsp; 483723 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 11/20/2028 | 895000 | &nbsp;&nbsp; 899877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 08/22/2047 | 300000 | &nbsp;&nbsp; 248155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 11/20/2030 | 597000 | &nbsp;&nbsp; 601387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 11/20/2065 | 1028000 | &nbsp;&nbsp; 1006421 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/2031 | 425000 | &nbsp;&nbsp; 394921 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/01/2033\* | 65000 | &nbsp;&nbsp; 64688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 09/30/2030\* | 382000 | &nbsp;&nbsp; 387968 |
| &nbsp;&nbsp;&nbsp; GrubHub Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.00%, 07/31/2030\*(4) | 715575 | &nbsp;&nbsp; 478590 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ION Platform Finance US, Inc./ION Platform Finance <br> SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 05/01/2028\* | $628000 | &nbsp;&nbsp; $581174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 05/30/2029\* | 200000 | &nbsp;&nbsp; 187866 |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 10/01/2031\* | 123000 | &nbsp;&nbsp; 111609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 08/01/2030\* | 356000 | &nbsp;&nbsp; 338314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/2033\* | 215000 | &nbsp;&nbsp; 214411 |
| &nbsp;&nbsp;&nbsp; Meituan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 10/28/2030 | 624000 | &nbsp;&nbsp; 588748 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2035 | 1260000 | &nbsp;&nbsp; 1272546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/15/2054 | 875000 | &nbsp;&nbsp; 826118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/15/2045 | 1613000 | &nbsp;&nbsp; 1593580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 08/15/2064 | 239000 | &nbsp;&nbsp; 225183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 11/15/2055 | 1490000 | &nbsp;&nbsp; 1458450 |
| &nbsp;&nbsp;&nbsp; Prosus NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.03%, 08/03/2050 | 820000 | &nbsp;&nbsp; 584911 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/2034 | 405000 | &nbsp;&nbsp; 406174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/15/2035 | 192000 | &nbsp;&nbsp; 191123 |
| &nbsp;&nbsp;&nbsp; Wayfair LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/15/2032\* | 400000 | &nbsp;&nbsp; 407678 |
|  |  | &nbsp;&nbsp; 16419800 |
| **Investment Companies — 0.0%** | **Investment Companies — 0.0%** | **Investment Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/15/2035 | 185000 | &nbsp;&nbsp; 194805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 11/15/2056 | 207000 | &nbsp;&nbsp; 206943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 06/01/2056 | 345000 | &nbsp;&nbsp; 363413 |
|  |  | &nbsp;&nbsp; 765161 |
| **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/15/2032\* | 804000 | &nbsp;&nbsp; 816563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/15/2034\* | 175000 | &nbsp;&nbsp; 179598 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/2031 | 560000 | &nbsp;&nbsp; 532476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2033\* | 50000 | &nbsp;&nbsp; 51014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/15/2035\* | 100000 | &nbsp;&nbsp; 102425 |
| &nbsp;&nbsp;&nbsp; Mineral Resources, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/01/2031\* | 116000 | &nbsp;&nbsp; 122002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 05/01/2030\* | 25000 | &nbsp;&nbsp; 25849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 10/01/2028\* | 283000 | &nbsp;&nbsp; 296401 |
| &nbsp;&nbsp;&nbsp; Nucor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 05/23/2027 | 476000 | &nbsp;&nbsp; 478931 |
| &nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 12/15/2028 | 275000 | &nbsp;&nbsp; 275229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 08/15/2034 | 271000 | &nbsp;&nbsp; 281647 |
| &nbsp;&nbsp;&nbsp; Usiminas International SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 01/27/2032\* | 400000 | &nbsp;&nbsp; 417168 |
| &nbsp;&nbsp;&nbsp; Vale Overseas, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/28/2054# | 430000 | &nbsp;&nbsp; 451027 |
|  |  | &nbsp;&nbsp; 4030330 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| &nbsp;&nbsp;&nbsp; Carnival Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/01/2032\* | 235000 | &nbsp;&nbsp; 243883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/2033\* | 595000 | &nbsp;&nbsp; 615977 |
| &nbsp;&nbsp;&nbsp; NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/01/2032\* | 1013000 | &nbsp;&nbsp; 1043223 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Leisure Time (continued)** | **Leisure Time (continued)** | **Leisure Time (continued)** |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/2033\* | $497000 | &nbsp;&nbsp; $514862 |
|  |  | &nbsp;&nbsp; 2417945 |
| **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |
| &nbsp;&nbsp;&nbsp; Gohl Capital, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/24/2027 | 540000 | &nbsp;&nbsp; 537438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Escrow, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/01/2031\* | 330000 | &nbsp;&nbsp; 310512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 06/01/2029\* | 321000 | &nbsp;&nbsp; 313284 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 04/15/2031 | 406000 | &nbsp;&nbsp; 380140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/15/2032 | 359000 | &nbsp;&nbsp; 339080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/01/2033 | 301000 | &nbsp;&nbsp; 300010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/2037 | 229000 | &nbsp;&nbsp; 236651 |
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 12/04/2029\* | 441000 | &nbsp;&nbsp; 430746 |
| &nbsp;&nbsp;&nbsp; Sands China, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 03/08/2029 | 440000 | &nbsp;&nbsp; 421096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 03/08/2029 | 360000 | &nbsp;&nbsp; 344533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 06/18/2030 | 858000 | &nbsp;&nbsp; 847819 |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 03/15/2032\* | 618000 | &nbsp;&nbsp; 632660 |
| &nbsp;&nbsp;&nbsp; Travel & Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 12/01/2029\* | 416000 | &nbsp;&nbsp; 407521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/01/2033\* | 330000 | &nbsp;&nbsp; 335434 |
|  |  | &nbsp;&nbsp; 5836924 |
| **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** | **Machinery-Construction & Mining — 0.1%** |
| &nbsp;&nbsp;&nbsp; Caterpillar Financial Services Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 11/14/2028 | 895000 | &nbsp;&nbsp; 899878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 08/15/2028 | 458000 | &nbsp;&nbsp; 462272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/03/2028 | 362000 | &nbsp;&nbsp; 366983 |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/04/2036 | 252000 | &nbsp;&nbsp; 255189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/04/2056 | 368000 | &nbsp;&nbsp; 365100 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/15/2036 | 87000 | &nbsp;&nbsp; 86665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/2046 | 110000 | &nbsp;&nbsp; 109249 |
|  |  | &nbsp;&nbsp; 2545336 |
| **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** | **Machinery-Diversified — 0.1%** |
| &nbsp;&nbsp;&nbsp; AGCO Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/21/2027 | 554000 | &nbsp;&nbsp; 560949 |
| &nbsp;&nbsp;&nbsp; CNH Industrial Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/16/2030 | 438000 | &nbsp;&nbsp; 441856 |
| &nbsp;&nbsp;&nbsp; Deere & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 01/16/2035 | 322000 | &nbsp;&nbsp; 343781 |
| &nbsp;&nbsp;&nbsp; Deere Funding Canada Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 10/09/2030 | 408000 | &nbsp;&nbsp; 410543 |
| &nbsp;&nbsp;&nbsp; John Deere Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 09/08/2031 | 567000 | &nbsp;&nbsp; 578400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/07/2031 | 350000 | &nbsp;&nbsp; 364453 |
| &nbsp;&nbsp;&nbsp; nVent Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/15/2031 | 538000 | &nbsp;&nbsp; 487514 |
|  |  | &nbsp;&nbsp; 3187496 |
| **Media — 0.7%** | **Media — 0.7%** | **Media — 0.7%** |
| &nbsp;&nbsp;&nbsp; Belo Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 09/15/2027 | 216000 | &nbsp;&nbsp; 223710 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/2030\*# | 692000 | &nbsp;&nbsp; 479056 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/2034\*# | $425000 | &nbsp;&nbsp; $370218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/01/2029\* | 367000 | &nbsp;&nbsp; 366127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/01/2029\* | 153000 | &nbsp;&nbsp; 155038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/01/2033\* | 565000 | &nbsp;&nbsp; 577682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 06/01/2041 | 1426000 | &nbsp;&nbsp; 1027282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 04/01/2061 | 454000 | &nbsp;&nbsp; 274541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/01/2050 | 2058000 | &nbsp;&nbsp; 1567910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 05/01/2047 | 276000 | &nbsp;&nbsp; 230043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/23/2035 | 192000 | &nbsp;&nbsp; 200557 |
| &nbsp;&nbsp;&nbsp; Comcast Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 04/01/2030 | 535000 | &nbsp;&nbsp; 523311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 10/15/2038 | 1194000 | &nbsp;&nbsp; 1128897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 01/15/2037\* | 2326000 | &nbsp;&nbsp; 2341968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 06/01/2034 | 1000000 | &nbsp;&nbsp; 1044803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 05/15/2064# | 370000 | &nbsp;&nbsp; 340813 |
| &nbsp;&nbsp;&nbsp; Cox Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/01/2034\* | 474000 | &nbsp;&nbsp; 469355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/01/2054\* | 342000 | &nbsp;&nbsp; 306634 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 12/01/2030\* | 250000 | &nbsp;&nbsp; 152518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2031\* | 455000 | &nbsp;&nbsp; 273069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/01/2029\* | 545000 | &nbsp;&nbsp; 344304 |
| &nbsp;&nbsp;&nbsp; Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 01/25/2049# | 482000 | &nbsp;&nbsp; 458014 |
| &nbsp;&nbsp;&nbsp; Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/2044 | 302000 | &nbsp;&nbsp; 201205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/01/2043 | 119000 | &nbsp;&nbsp; 88149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/28/2057 | 513000 | &nbsp;&nbsp; 397729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/30/2062 | 181000 | &nbsp;&nbsp; 142085 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/15/2032\* | 225000 | &nbsp;&nbsp; 224466 |
| &nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 09/01/2031\* | 486000 | &nbsp;&nbsp; 445750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 07/15/2028\* | 308000 | &nbsp;&nbsp; 300683 |
| &nbsp;&nbsp;&nbsp; Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/2031\* | 611000 | &nbsp;&nbsp; 582469 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/15/2028 | 175000 | &nbsp;&nbsp; 174504 |
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 05/01/2037 | 2022000 | &nbsp;&nbsp; 2081469 |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 06/30/2030\* | 355000 | &nbsp;&nbsp; 355007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 07/31/2031\* | 330000 | &nbsp;&nbsp; 337724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 08/01/2032\* | 285000 | &nbsp;&nbsp; 301577 |
| &nbsp;&nbsp;&nbsp; Virgin Media Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/2030\* | 212000 | &nbsp;&nbsp; 177621 |
|  |  | &nbsp;&nbsp; 18666288 |
| **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.38%, 03/01/2034\* | 315000 | &nbsp;&nbsp; 317400 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| &nbsp;&nbsp;&nbsp; Anglo American Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/05/2034\* | 1330000 | &nbsp;&nbsp; 1412641 |
| &nbsp;&nbsp;&nbsp; AngloGold Ashanti Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/01/2030 | 520000 | &nbsp;&nbsp; 502442 |
| &nbsp;&nbsp;&nbsp; BHP Billiton Finance USA, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/05/2055 | 335000 | &nbsp;&nbsp; 349797 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/31/2033\* | $543000 | &nbsp;&nbsp; $561156 |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/28/2030\* | 400000 | &nbsp;&nbsp; 413979 |
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/01/2031\* | 560000 | &nbsp;&nbsp; 542805 |
| &nbsp;&nbsp;&nbsp; Hudbay Minerals, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 04/01/2029\* | 339000 | &nbsp;&nbsp; 341683 |
| &nbsp;&nbsp;&nbsp; Minera Mexico SA de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/26/2050 | 330000 | &nbsp;&nbsp; 282599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/12/2032\* | 450000 | &nbsp;&nbsp; 468810 |
| &nbsp;&nbsp;&nbsp; Minsur SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 10/28/2031 | 400000 | &nbsp;&nbsp; 388073 |
| &nbsp;&nbsp;&nbsp; Navoi Mining & Metallurgical Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 10/17/2028\* | 280000 | &nbsp;&nbsp; 290109 |
| &nbsp;&nbsp;&nbsp; Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/2033\* | 508000 | &nbsp;&nbsp; 513529 |
| &nbsp;&nbsp;&nbsp; South32 Treasury, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 04/14/2032\* | 672000 | &nbsp;&nbsp; 663149 |
| &nbsp;&nbsp;&nbsp; Stillwater Mining Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/16/2026 | 350000 | &nbsp;&nbsp; 348029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Windfall Mining Group, Inc./Groupe Minier Windfall, <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 05/13/2032\* | 605000 | &nbsp;&nbsp; 633885 |
|  |  | &nbsp;&nbsp; 7712686 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| &nbsp;&nbsp;&nbsp; Siemens Financieringsmaatschappij NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 03/11/2031\* | 685000 | &nbsp;&nbsp; 628199 |
| &nbsp;&nbsp;&nbsp; Siemens Funding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 05/28/2032\* | 567000 | &nbsp;&nbsp; 588528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 05/28/2055\* | 208000 | &nbsp;&nbsp; 219759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 05/28/2065\* | 206000 | &nbsp;&nbsp; 218029 |
|  |  | &nbsp;&nbsp; 1654515 |
| **Multi-National — 0.1%** | **Multi-National — 0.1%** | **Multi-National — 0.1%** |
| &nbsp;&nbsp;&nbsp; Africa Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/08/2029\* | 560000 | &nbsp;&nbsp; 574973 |
| &nbsp;&nbsp;&nbsp; European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/2027 | 1554000 | &nbsp;&nbsp; 1549557 |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 07/20/2028 | 1599000 | &nbsp;&nbsp; 1515819 |
|  |  | &nbsp;&nbsp; 3640349 |
| **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** | **Oil & Gas — 1.0%** |
| &nbsp;&nbsp;&nbsp; APA Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 10/15/2028 | 234000 | &nbsp;&nbsp; 234608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/01/2049 | 1324000 | &nbsp;&nbsp; 1154131 |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.54%, 04/06/2027 | 1108000 | &nbsp;&nbsp; 1105398 |
| &nbsp;&nbsp;&nbsp; Chevron USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 10/15/2049 | 577000 | &nbsp;&nbsp; 496142 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/15/2030\* | 378000 | &nbsp;&nbsp; 364295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/2029\* | 211000 | &nbsp;&nbsp; 210184 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/15/2055 | 700000 | &nbsp;&nbsp; 687415 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 02/15/2035 | 1417000 | &nbsp;&nbsp; 1461260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/15/2055 | 769000 | &nbsp;&nbsp; 764897 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 01/15/2033\* | 211000 | &nbsp;&nbsp; 209621 |
| &nbsp;&nbsp;&nbsp; DBR Land Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 12/01/2030\* | 405000 | &nbsp;&nbsp; 417717 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/2054 | $253000 | &nbsp;&nbsp; $246546 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/24/2051# | 335000 | &nbsp;&nbsp; 277134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/2053 | 688000 | &nbsp;&nbsp; 716389 |
| &nbsp;&nbsp;&nbsp; Eni SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 05/15/2054\* | 490000 | &nbsp;&nbsp; 502687 |
| &nbsp;&nbsp;&nbsp; Hess Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/2040 | 736000 | &nbsp;&nbsp; 806570 |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/01/2028 | 402000 | &nbsp;&nbsp; 401377 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/2031\* | 873000 | &nbsp;&nbsp; 850361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 02/15/2035\* | 345000 | &nbsp;&nbsp; 341699 |
| &nbsp;&nbsp;&nbsp; KazMunayGas National Co. JSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/14/2033# | 250000 | &nbsp;&nbsp; 229843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/24/2048 | 600000 | &nbsp;&nbsp; 614428 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/2034 | 525000 | &nbsp;&nbsp; 524997 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/15/2033\* | 557000 | &nbsp;&nbsp; 569433 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/15/2046 | 98000 | &nbsp;&nbsp; 80199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/01/2031 | 536000 | &nbsp;&nbsp; 576151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.45%, 09/15/2036 | 646000 | &nbsp;&nbsp; 703658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/01/2031 | 264000 | &nbsp;&nbsp; 300604 |
| &nbsp;&nbsp;&nbsp; ORLEN SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/30/2035\* | 700000 | &nbsp;&nbsp; 745137 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/15/2033 | 1000000 | &nbsp;&nbsp; 1079157 |
| &nbsp;&nbsp;&nbsp; Pertamina Hulu Energi PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/21/2030\* | 510000 | &nbsp;&nbsp; 520044 |
| &nbsp;&nbsp;&nbsp; Pertamina Persero PT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 07/30/2049 | 1500000 | &nbsp;&nbsp; 1259147 |
| &nbsp;&nbsp;&nbsp; Pioneer Natural Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.15%, 01/15/2031 | 495000 | &nbsp;&nbsp; 455587 |
| &nbsp;&nbsp;&nbsp; PTTEP Treasury Center Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.59%, 06/10/2027 | 360000 | &nbsp;&nbsp; 353296 |
| &nbsp;&nbsp;&nbsp; Santos Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/13/2035\* | 225000 | &nbsp;&nbsp; 230072 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 07/17/2064\* | 425000 | &nbsp;&nbsp; 412877 |
| &nbsp;&nbsp;&nbsp; Shell Finance US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 11/06/2030 | 310000 | &nbsp;&nbsp; 312469 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 11/01/2030\* | 283000 | &nbsp;&nbsp; 299512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 06/15/2033\* | 280000 | &nbsp;&nbsp; 309606 |
| &nbsp;&nbsp;&nbsp; Southwestern Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/2032 | 571000 | &nbsp;&nbsp; 570058 |
| &nbsp;&nbsp;&nbsp; Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/15/2031\* | 85000 | &nbsp;&nbsp; 85731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/15/2034\* | 845000 | &nbsp;&nbsp; 848375 |
| &nbsp;&nbsp;&nbsp; Talos Production, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 02/01/2031\* | 518000 | &nbsp;&nbsp; 551159 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 09/10/2064 | 513000 | &nbsp;&nbsp; 490149 |
| &nbsp;&nbsp;&nbsp; TotalEnergies Capital USA LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/13/2031 | 395000 | &nbsp;&nbsp; 398539 |
| &nbsp;&nbsp;&nbsp; Valaris, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 04/30/2030\* | 561000 | &nbsp;&nbsp; 588328 |
| &nbsp;&nbsp;&nbsp; Vital Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/15/2032\* | 670000 | &nbsp;&nbsp; 682552 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp; Wildfire Intermediate Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 10/15/2029\* | $411000 | &nbsp;&nbsp; $421835 |
| &nbsp;&nbsp;&nbsp; Woodside Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/19/2030 | 863000 | &nbsp;&nbsp; 895328 |
|  |  | &nbsp;&nbsp; 26356702 |
| **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** | **Oil & Gas Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/01/2032\* | 350000 | &nbsp;&nbsp; 364225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Archrock Services LP/Archrock Partners Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/01/2034\* | 295000 | &nbsp;&nbsp; 298683 |
| &nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/2033\* | 106000 | &nbsp;&nbsp; 109310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/01/2035\* | 110000 | &nbsp;&nbsp; 114938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 02/15/2029\* | 387000 | &nbsp;&nbsp; 401292 |
| &nbsp;&nbsp;&nbsp; WBI Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2030\* | 325000 | &nbsp;&nbsp; 331253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/15/2033\* | 225000 | &nbsp;&nbsp; 228656 |
|  |  | &nbsp;&nbsp; 1848357 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp; Amcor Flexibles North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.69%, 05/25/2031 | 104000 | &nbsp;&nbsp; 96137 |
| &nbsp;&nbsp;&nbsp; AptarGroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/30/2031 | 608000 | &nbsp;&nbsp; 617033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/30/2031\* | 455000 | &nbsp;&nbsp; 465699 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 04/15/2030\* | 512000 | &nbsp;&nbsp; 509743 |
| &nbsp;&nbsp;&nbsp; Crown Americas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/01/2030 | 395000 | &nbsp;&nbsp; 404222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/01/2033\* | 155000 | &nbsp;&nbsp; 159251 |
| &nbsp;&nbsp;&nbsp; Iris Holding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 12/15/2028\*# | 603000 | &nbsp;&nbsp; 550765 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/01/2033 | 1578000 | &nbsp;&nbsp; 1682410 |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 02/01/2028 | 241000 | &nbsp;&nbsp; 238805 |
| &nbsp;&nbsp;&nbsp; Sonoco Products Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/01/2029 | 494000 | &nbsp;&nbsp; 500878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/01/2034# | 403000 | &nbsp;&nbsp; 406973 |
|  |  | &nbsp;&nbsp; 5631916 |
| **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/21/2039 | 3014000 | &nbsp;&nbsp; 2728227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/21/2049 | 758000 | &nbsp;&nbsp; 637762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/15/2033 | 453000 | &nbsp;&nbsp; 454900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/2036 | 705000 | &nbsp;&nbsp; 708693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 03/15/2031 | 440000 | &nbsp;&nbsp; 458059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 03/15/2056 | 845000 | &nbsp;&nbsp; 850210 |
| &nbsp;&nbsp;&nbsp; Astrazeneca Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 02/26/2029 | 686000 | &nbsp;&nbsp; 706841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 03/03/2028 | 605000 | &nbsp;&nbsp; 618385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/03/2030 | 654000 | &nbsp;&nbsp; 677961 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 08/22/2032 | 720000 | &nbsp;&nbsp; 721839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 02/13/2028 | 1766000 | &nbsp;&nbsp; 1790142 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/15/2032 | 658000 | &nbsp;&nbsp; 615550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 08/01/2042 | 621000 | &nbsp;&nbsp; 486081 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 10/26/2049 | $547000 | &nbsp;&nbsp; $455044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/01/2031 | 604000 | &nbsp;&nbsp; 649213 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/2030 | 275000 | &nbsp;&nbsp; 278978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2044 | 651000 | &nbsp;&nbsp; 567234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 03/15/2043 | 2790000 | &nbsp;&nbsp; 2505345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/2029 | 511000 | &nbsp;&nbsp; 527053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2054# | 232000 | &nbsp;&nbsp; 234373 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/15/2047 | 1108000 | &nbsp;&nbsp; 953436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 02/15/2034 | 1774000 | &nbsp;&nbsp; 1840189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 02/13/2056 | 184000 | &nbsp;&nbsp; 185018 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/20/2045 | 2452000 | &nbsp;&nbsp; 2243969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 06/01/2031 | 510000 | &nbsp;&nbsp; 538104 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/15/2027 | 193000 | &nbsp;&nbsp; 191878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 08/14/2034 | 392000 | &nbsp;&nbsp; 398034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 02/09/2034 | 908000 | &nbsp;&nbsp; 929009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/12/2030 | 403000 | &nbsp;&nbsp; 416441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 10/15/2065 | 241000 | &nbsp;&nbsp; 243973 |
| &nbsp;&nbsp;&nbsp; EMD Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/15/2035\* | 439000 | &nbsp;&nbsp; 443218 |
| &nbsp;&nbsp;&nbsp; GlaxoSmithKline Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 04/15/2030 | 399000 | &nbsp;&nbsp; 408042 |
| &nbsp;&nbsp;&nbsp; HLF Financing SARL LLC/Herbalife International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/01/2029\* | 614000 | &nbsp;&nbsp; 588228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.25%, 04/15/2029\* | 475000 | &nbsp;&nbsp; 507389 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/30/2032 | 702000 | &nbsp;&nbsp; 731438 |
| &nbsp;&nbsp;&nbsp; Merck & Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 12/04/2065 | 239000 | &nbsp;&nbsp; 239938 |
| &nbsp;&nbsp;&nbsp; Novartis Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 09/18/2031 | 377000 | &nbsp;&nbsp; 378294 |
| &nbsp;&nbsp;&nbsp; Pfizer Investment Enterprises Pte., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/19/2033 | 476000 | &nbsp;&nbsp; 485897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 05/19/2043 | 1269000 | &nbsp;&nbsp; 1234963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/19/2053 | 490000 | &nbsp;&nbsp; 469163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 05/19/2063 | 1096000 | &nbsp;&nbsp; 1028550 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 11/15/2027 | 458000 | &nbsp;&nbsp; 460205 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.18%, 07/09/2050 | 538000 | &nbsp;&nbsp; 369048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 07/05/2044 | 253000 | &nbsp;&nbsp; 258627 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/01/2032 | 275000 | &nbsp;&nbsp; 291817 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands IV BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 12/01/2030 | 275000 | &nbsp;&nbsp; 285385 |
|  |  | &nbsp;&nbsp; 32792143 |
| **Pipelines — 1.4%** | **Pipelines — 1.4%** | **Pipelines — 1.4%** |
| &nbsp;&nbsp;&nbsp; Acu Petroleo Luxembourg SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/13/2035 | 253091 | &nbsp;&nbsp; 261160 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 10/30/2035 | 710000 | &nbsp;&nbsp; 736788 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 10/01/2031\* | 278000 | &nbsp;&nbsp; 285991 |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 02/15/2035\* | 2050000 | &nbsp;&nbsp; 2135229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.96%, 02/15/2055\* | 1390000 | &nbsp;&nbsp; 1411630 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Delek Logistics Partners LP/Delek Logistics Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 06/30/2033\* | $514000 | &nbsp;&nbsp; $531631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.63%, 03/15/2029\* | 228000 | &nbsp;&nbsp; 238068 |
| &nbsp;&nbsp;&nbsp; Eastern Energy Gas Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 01/15/2055 | 385000 | &nbsp;&nbsp; 409282 |
| &nbsp;&nbsp;&nbsp; EIG Pearl Holdings SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 08/31/2036 | 581950 | &nbsp;&nbsp; 539590 |
| &nbsp;&nbsp;&nbsp; Enbridge, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 06/20/2028 | 216000 | &nbsp;&nbsp; 218902 |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/15/2035 | 798000 | &nbsp;&nbsp; 796357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 05/15/2028 | 450000 | &nbsp;&nbsp; 458368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/01/2043 | 336000 | &nbsp;&nbsp; 308377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/2036 | 337000 | &nbsp;&nbsp; 342627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 05/15/2045 | 744000 | &nbsp;&nbsp; 687041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/01/2047 | 1735000 | &nbsp;&nbsp; 1600998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/2045 | 386000 | &nbsp;&nbsp; 390195 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/31/2051 | 163000 | &nbsp;&nbsp; 121993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/15/2031 | 276000 | &nbsp;&nbsp; 282185 |
| &nbsp;&nbsp;&nbsp; Excelerate Energy LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/15/2030\* | 540000 | &nbsp;&nbsp; 572417 |
| &nbsp;&nbsp;&nbsp; Galaxy Pipeline Assets Bidco, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.16%, 03/31/2034 | 734149 | &nbsp;&nbsp; 669666 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/2034 | 90000 | &nbsp;&nbsp; 91038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 05/15/2032 | 712000 | &nbsp;&nbsp; 745312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/15/2033 | 90000 | &nbsp;&nbsp; 95155 |
| &nbsp;&nbsp;&nbsp; GNL Quintero SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/31/2029 | 519120 | &nbsp;&nbsp; 521836 |
| &nbsp;&nbsp;&nbsp; Gray Oak Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/15/2027\* | 2927000 | &nbsp;&nbsp; 2895376 |
| &nbsp;&nbsp;&nbsp; Greensaif Pipelines Bidco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 02/23/2036 | 350000 | &nbsp;&nbsp; 367063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.51%, 02/23/2042 | 360000 | &nbsp;&nbsp; 394816 |
| &nbsp;&nbsp;&nbsp; Harvest Midstream I LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/01/2028\* | 315000 | &nbsp;&nbsp; 318510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/15/2032\* | 553000 | &nbsp;&nbsp; 574005 |
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/2034\* | 75000 | &nbsp;&nbsp; 77511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 07/15/2032\* | 592000 | &nbsp;&nbsp; 624746 |
| &nbsp;&nbsp;&nbsp; ITT Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/01/2029\* | 806000 | &nbsp;&nbsp; 783030 |
| &nbsp;&nbsp;&nbsp; Kinder Morgan Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/01/2044 | 1091000 | &nbsp;&nbsp; 1069853 |
| &nbsp;&nbsp;&nbsp; MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/2031 | 639000 | &nbsp;&nbsp; 652333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NGL Energy Operating LLC/NGL Energy Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 02/15/2029\* | 518000 | &nbsp;&nbsp; 536839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 02/15/2032\* | 177000 | &nbsp;&nbsp; 185656 |
| &nbsp;&nbsp;&nbsp; NGPL PipeCo LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 07/15/2031\* | 550000 | &nbsp;&nbsp; 515846 |
| &nbsp;&nbsp;&nbsp; Northern Natural Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/01/2054\* | 332000 | &nbsp;&nbsp; 327437 |
| &nbsp;&nbsp;&nbsp; NuStar Logistics LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/01/2030 | 99000 | &nbsp;&nbsp; 104231 |
| &nbsp;&nbsp;&nbsp; ONEOK Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 10/01/2036 | 2940000 | &nbsp;&nbsp; 3268173 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/15/2031 | 910000 | &nbsp;&nbsp; 923060 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp; Plains All American Pipeline LP/PAA Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 01/31/2043 | $284000 | &nbsp;&nbsp; $239212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 01/15/2036 | 234000 | &nbsp;&nbsp; 239892 |
| &nbsp;&nbsp;&nbsp; Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 09/15/2037 | 313110 | &nbsp;&nbsp; 333255 |
| &nbsp;&nbsp;&nbsp; South Bow USA Infrastructure Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 09/01/2027 | 220000 | &nbsp;&nbsp; 222376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/01/2029 | 255000 | &nbsp;&nbsp; 260738 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/15/2030 | 1212000 | &nbsp;&nbsp; 1244645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 07/30/2036 | 212000 | &nbsp;&nbsp; 215914 |
| &nbsp;&nbsp;&nbsp; Transcontinental Gas Pipe Line Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/2056\* | 271000 | &nbsp;&nbsp; 272772 |
| &nbsp;&nbsp;&nbsp; Transportadora de Gas del Peru SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/30/2028 | 318000 | &nbsp;&nbsp; 317953 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 06/01/2031\* | 1066000 | &nbsp;&nbsp; 1091624 |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/2030\* | 32000 | &nbsp;&nbsp; 33242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 06/15/2034\* | 162000 | &nbsp;&nbsp; 170094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/01/2033\* | 80000 | &nbsp;&nbsp; 88746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 05/01/2035\* | 460000 | &nbsp;&nbsp; 521744 |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 03/01/2048 | 190000 | &nbsp;&nbsp; 167831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 12/15/2035 | 195000 | &nbsp;&nbsp; 196681 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 03/15/2035 | 540000 | &nbsp;&nbsp; 567498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/15/2033 | 470000 | &nbsp;&nbsp; 497338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/24/2044 | 1251000 | &nbsp;&nbsp; 1268226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 03/15/2056 | 274000 | &nbsp;&nbsp; 278163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/15/2055 | 145000 | &nbsp;&nbsp; 148755 |
|  |  | &nbsp;&nbsp; 36447020 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aldar Investment Properties Sukuk, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/25/2035# | 400000 | &nbsp;&nbsp; 405363 |
| &nbsp;&nbsp;&nbsp; CBRE Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 01/15/2033 | 287000 | &nbsp;&nbsp; 290611 |
| &nbsp;&nbsp;&nbsp; Corp. Inmobiliaria Vesta SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/30/2033\* | 300000 | &nbsp;&nbsp; 301110 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/15/2028\* | 542000 | &nbsp;&nbsp; 543467 |
| &nbsp;&nbsp;&nbsp; Greystar Real Estate Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 09/01/2030\* | 423000 | &nbsp;&nbsp; 442004 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/2029 | 641000 | &nbsp;&nbsp; 631595 |
| &nbsp;&nbsp;&nbsp; Ontario Teachers' Cadillac Fairview Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 10/15/2031\* | 1061000 | &nbsp;&nbsp; 963211 |
| &nbsp;&nbsp;&nbsp; Sobha Sukuk, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 02/19/2029 | 250000 | &nbsp;&nbsp; 259202 |
|  |  | &nbsp;&nbsp; 3836563 |
| **REITS — 0.6%** | **REITS — 0.6%** | **REITS — 0.6%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 09/15/2031 | 1665000 | &nbsp;&nbsp; 1497134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 12/15/2032 | 199000 | &nbsp;&nbsp; 201290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 02/15/2029 | 1879000 | &nbsp;&nbsp; 1940205 |
| &nbsp;&nbsp;&nbsp; Arbor Realty SR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 07/15/2030\* | 735000 | &nbsp;&nbsp; 677546 |
| &nbsp;&nbsp;&nbsp; Blackstone Mtg. Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 12/01/2029\* | 529000 | &nbsp;&nbsp; 563879 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp; Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/16/2031 | $1000000 | &nbsp;&nbsp; $909124 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/11/2028 | 399000 | &nbsp;&nbsp; 405975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 06/01/2029 | 979000 | &nbsp;&nbsp; 1019837 |
| &nbsp;&nbsp;&nbsp; Equinix Europe 2 Financing Corp. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 03/15/2033 | 1035000 | &nbsp;&nbsp; 1038833 |
| &nbsp;&nbsp;&nbsp; Essex Portfolio LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65%, 01/15/2031 | 1000000 | &nbsp;&nbsp; 882661 |
| &nbsp;&nbsp;&nbsp; FIBRA Prologis |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 11/26/2035\* | 240000 | &nbsp;&nbsp; 243240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/14/2038\* | 325000 | &nbsp;&nbsp; 328539 |
| &nbsp;&nbsp;&nbsp; Goodman US Finance Six LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 10/07/2034\* | 226000 | &nbsp;&nbsp; 230055 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/15/2030 | 1483000 | &nbsp;&nbsp; 1420595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder <br> Capital Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/2027\* | 104000 | &nbsp;&nbsp; 103272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 06/15/2029\* | 493000 | &nbsp;&nbsp; 488216 |
| &nbsp;&nbsp;&nbsp; LXP Industrial Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 10/01/2031 | 266000 | &nbsp;&nbsp; 236114 |
| &nbsp;&nbsp;&nbsp; National Health Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/01/2033 | 129000 | &nbsp;&nbsp; 130461 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/2034 | 430000 | &nbsp;&nbsp; 449512 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/2034\* | 420000 | &nbsp;&nbsp; 423064 |
| &nbsp;&nbsp;&nbsp; Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 09/30/2028\* | 24000 | &nbsp;&nbsp; 21890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 06/15/2032 | 542000 | &nbsp;&nbsp; 544032 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/01/2030\* | 456000 | &nbsp;&nbsp; 474251 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.10%, 08/01/2032 | 583000 | &nbsp;&nbsp; 507369 |
| &nbsp;&nbsp;&nbsp; Ventas Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 09/01/2031 | 1000000 | &nbsp;&nbsp; 909923 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 03/09/2052 | 270000 | &nbsp;&nbsp; 208340 |
|  |  | &nbsp;&nbsp; 15855357 |
| **Retail — 0.4%** | **Retail — 0.4%** | **Retail — 0.4%** |
| &nbsp;&nbsp;&nbsp; Arcos Dorados BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 01/29/2032 | 400000 | &nbsp;&nbsp; 425352 |
| &nbsp;&nbsp;&nbsp; AutoNation, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 01/15/2029 | 228000 | &nbsp;&nbsp; 229709 |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/01/2028 | 319000 | &nbsp;&nbsp; 336935 |
| &nbsp;&nbsp;&nbsp; Brinker International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 07/15/2030\* | 371000 | &nbsp;&nbsp; 390806 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 10/15/2027 | 295000 | &nbsp;&nbsp; 297021 |
| &nbsp;&nbsp;&nbsp; El Puerto de Liverpool SAB de CV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/10/2038\* | 410000 | &nbsp;&nbsp; 408462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.26%, 01/22/2032\* | 300000 | &nbsp;&nbsp; 319265 |
| &nbsp;&nbsp;&nbsp; Falabella SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 01/15/2032 | 350000 | &nbsp;&nbsp; 316666 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/01/2028\* | 227000 | &nbsp;&nbsp; 224238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 01/01/2030\* | 273000 | &nbsp;&nbsp; 271622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/01/2032\* | 65000 | &nbsp;&nbsp; 67080 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 04/15/2029 | 337000 | &nbsp;&nbsp; 347571 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/01/2031 | $309000 | &nbsp;&nbsp; $261510 |
| &nbsp;&nbsp;&nbsp; LBM Acquisition LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/2029\*# | 567000 | &nbsp;&nbsp; 432293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 06/15/2031\* | 305000 | &nbsp;&nbsp; 284473 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, 09/01/2049 | 1673000 | &nbsp;&nbsp; 1261299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/01/2047 | 1334000 | &nbsp;&nbsp; 1167301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 08/14/2028 | 1022000 | &nbsp;&nbsp; 1045704 |
| &nbsp;&nbsp;&nbsp; Murphy Oil USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/15/2029 | 577000 | &nbsp;&nbsp; 571588 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/01/2027 | 644000 | &nbsp;&nbsp; 640873 |
| &nbsp;&nbsp;&nbsp; Park River Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 03/15/2031\* | 353000 | &nbsp;&nbsp; 355264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 12/31/2030\* | 235264 | &nbsp;&nbsp; 225874 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 02/01/2031\* | 345000 | &nbsp;&nbsp; 336939 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC/PetSmart Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/2032\* | 575000 | &nbsp;&nbsp; 581831 |
| &nbsp;&nbsp;&nbsp; QXO Building Products, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/30/2032\* | 321000 | &nbsp;&nbsp; 332465 |
|  |  | &nbsp;&nbsp; 11132141 |
| **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** | **Savings & Loans — 0.1%** |
| &nbsp;&nbsp;&nbsp; Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.54%, 07/14/2036\* | 2010000 | &nbsp;&nbsp; 2087047 |
| **Semiconductors — 0.5%** | **Semiconductors — 0.5%** | **Semiconductors — 0.5%** |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/01/2033\* | 345000 | &nbsp;&nbsp; 352052 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 01/15/2036 | 336000 | &nbsp;&nbsp; 334501 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.45%, 02/15/2031 | 874000 | &nbsp;&nbsp; 807876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 11/15/2036\* | 2204000 | &nbsp;&nbsp; 1901334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 02/15/2036 | 412000 | &nbsp;&nbsp; 413017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 07/15/2032 | 382000 | &nbsp;&nbsp; 393449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/12/2029 | 1600000 | &nbsp;&nbsp; 1655497 |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/25/2034\* | 896000 | &nbsp;&nbsp; 935515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 01/25/2032\* | 562000 | &nbsp;&nbsp; 602841 |
| &nbsp;&nbsp;&nbsp; Intel Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/2049 | 1160000 | &nbsp;&nbsp; 759446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.73%, 12/08/2047 | 1111000 | &nbsp;&nbsp; 804315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 08/05/2032 | 345000 | &nbsp;&nbsp; 337536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/10/2053 | 338000 | &nbsp;&nbsp; 321012 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 04/15/2031 | 1100000 | &nbsp;&nbsp; 1028139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/15/2035 | 1471000 | &nbsp;&nbsp; 1531362 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 01/15/2031 | 399000 | &nbsp;&nbsp; 419066 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/20/2032 | 284000 | &nbsp;&nbsp; 291927 |
| &nbsp;&nbsp;&nbsp; SK Hynix, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.38%, 01/19/2031 | 650000 | &nbsp;&nbsp; 603692 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 02/15/2028# | 434000 | &nbsp;&nbsp; 441126 |
|  |  | &nbsp;&nbsp; 13933703 |
| **Software — 0.6%** | **Software — 0.6%** | **Software — 0.6%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/17/2028 | 411000 | &nbsp;&nbsp; 418851 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Capstone Borrower, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 06/15/2030\* | $322000 | &nbsp;&nbsp; $279993 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/31/2029\* | 473000 | &nbsp;&nbsp; 463860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 08/15/2033\* | 295000 | &nbsp;&nbsp; 278420 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 08/12/2034 | 670000 | &nbsp;&nbsp; 668043 |
| &nbsp;&nbsp;&nbsp; Open Text Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/01/2029\* | 360000 | &nbsp;&nbsp; 324017 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 04/01/2050 | 1350000 | &nbsp;&nbsp; 844462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 11/15/2037 | 2967000 | &nbsp;&nbsp; 2440113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 03/25/2051 | 255000 | &nbsp;&nbsp; 168799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 11/15/2047 | 835000 | &nbsp;&nbsp; 575759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 09/26/2030 | 397000 | &nbsp;&nbsp; 389359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 09/26/2032 | 585000 | &nbsp;&nbsp; 571618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/03/2035 | 367000 | &nbsp;&nbsp; 362792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 02/04/2036 | 1096000 | &nbsp;&nbsp; 1096614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 09/26/2045 | 628000 | &nbsp;&nbsp; 569009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 09/26/2055 | 701000 | &nbsp;&nbsp; 616876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 04/15/2038 | 422000 | &nbsp;&nbsp; 437236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.55%, 02/04/2046 | 250000 | &nbsp;&nbsp; 243613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 02/04/2056 | 1270000 | &nbsp;&nbsp; 1231595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 02/04/2066 | 555000 | &nbsp;&nbsp; 531697 |
| &nbsp;&nbsp;&nbsp; Rackspace Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 05/15/2028\* | 884400 | &nbsp;&nbsp; 359840 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 09/15/2028 | 310000 | &nbsp;&nbsp; 311396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/2032 | 425000 | &nbsp;&nbsp; 428768 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 04/01/2055 | 815000 | &nbsp;&nbsp; 814529 |
|  |  | &nbsp;&nbsp; 14427259 |
| **Telecommunications — 1.1%** | **Telecommunications — 1.1%** | **Telecommunications — 1.1%** |
| &nbsp;&nbsp;&nbsp; Altice Financing SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/15/2028\* | 870000 | &nbsp;&nbsp; 613059 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.85%, 06/01/2060 | 709000 | &nbsp;&nbsp; 495125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/15/2035 | 6079000 | &nbsp;&nbsp; 5924351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/30/2033 | 362000 | &nbsp;&nbsp; 366942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/15/2046 | 125000 | &nbsp;&nbsp; 109971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 08/15/2037 | 2007000 | &nbsp;&nbsp; 1980376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 11/01/2054 | 691000 | &nbsp;&nbsp; 670430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 08/15/2056 | 172000 | &nbsp;&nbsp; 175070 |
| &nbsp;&nbsp;&nbsp; Bell Telephone Co. of Canada or Bell Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 09/15/2055 | 357000 | &nbsp;&nbsp; 372732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 09/15/2055 | 270000 | &nbsp;&nbsp; 285780 |
| &nbsp;&nbsp;&nbsp; Bharti Airtel, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 06/03/2031 | 300000 | &nbsp;&nbsp; 287420 |
| &nbsp;&nbsp;&nbsp; Black Pearl Compute LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/2031\* | 508000 | &nbsp;&nbsp; 519914 |
| &nbsp;&nbsp;&nbsp; C&W Senior Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 01/15/2033\* | 510000 | &nbsp;&nbsp; 527712 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/24/2035 | 871000 | &nbsp;&nbsp; 904008 |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 09/15/2029\* | 378000 | &nbsp;&nbsp; 401123 |
| &nbsp;&nbsp;&nbsp; Flash Compute LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/31/2030\* | 120000 | &nbsp;&nbsp; 122834 |
| &nbsp;&nbsp;&nbsp; Iliad Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/15/2032\* | 672000 | &nbsp;&nbsp; 689850 |
| &nbsp;&nbsp;&nbsp; Iliad Holding SASU |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 04/15/2031\* | 200000 | &nbsp;&nbsp; 214283 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; MTN Mauritius Investments, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/13/2026 | $300000 | &nbsp;&nbsp; $302568 |
| &nbsp;&nbsp;&nbsp; NTT Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 07/16/2032\* | 239000 | &nbsp;&nbsp; 247088 |
| &nbsp;&nbsp;&nbsp; Orange SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/13/2029\*# | 323000 | &nbsp;&nbsp; 324005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/13/2031\* | 272000 | &nbsp;&nbsp; 272443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/13/2036\* | 2216000 | &nbsp;&nbsp; 2225744 |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 04/15/2055 | 446000 | &nbsp;&nbsp; 472346 |
| &nbsp;&nbsp;&nbsp; Sable International Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/15/2032\* | 310000 | &nbsp;&nbsp; 313866 |
| &nbsp;&nbsp;&nbsp; STC Sukuk Co. II, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 01/15/2031\* | 700000 | &nbsp;&nbsp; 701794 |
| &nbsp;&nbsp;&nbsp; Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/06/2048 | 251000 | &nbsp;&nbsp; 215767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 03/08/2047 | 500000 | &nbsp;&nbsp; 450010 |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 02/15/2041 | 1786000 | &nbsp;&nbsp; 1358823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/2060 | 379000 | &nbsp;&nbsp; 255036 |
| &nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 01/24/2030\* | 400000 | &nbsp;&nbsp; 420378 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/03/2041 | 874000 | &nbsp;&nbsp; 640483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 11/20/2060 | 684000 | &nbsp;&nbsp; 408134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 03/22/2041 | 388000 | &nbsp;&nbsp; 308921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 03/01/2052 | 268000 | &nbsp;&nbsp; 202245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/10/2033 | 668000 | &nbsp;&nbsp; 666309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 04/02/2035 | 686000 | &nbsp;&nbsp; 706326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/30/2045 | 274000 | &nbsp;&nbsp; 276979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/30/2065 | 514000 | &nbsp;&nbsp; 515976 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/30/2031\*# | 454000 | &nbsp;&nbsp; 447888 |
| &nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 04/15/2032\* | 176000 | &nbsp;&nbsp; 175995 |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/04/2081 | 231000 | &nbsp;&nbsp; 186768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/28/2054 | 342000 | &nbsp;&nbsp; 337358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/10/2063 | 965000 | &nbsp;&nbsp; 935323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/28/2064 | 465000 | &nbsp;&nbsp; 458715 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 03/09/2030\*(4) | 107105 | &nbsp;&nbsp; 104425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.75%, 09/09/2030\*(4) | 615456 | &nbsp;&nbsp; 556988 |
|  |  | &nbsp;&nbsp; 29149681 |
| **Transportation — 0.4%** | **Transportation — 0.4%** | **Transportation — 0.4%** |
| &nbsp;&nbsp;&nbsp; Burlington Northern Santa Fe LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 12/15/2048 | 1526000 | &nbsp;&nbsp; 1278202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 03/15/2043 | 1298000 | &nbsp;&nbsp; 1173891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 03/15/2056 | 197000 | &nbsp;&nbsp; 205956 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Railway Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 05/01/2048 | 1053000 | &nbsp;&nbsp; 957308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 09/15/2115 | 184000 | &nbsp;&nbsp; 190368 |
| &nbsp;&nbsp;&nbsp; CSX Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/2052 | 793000 | &nbsp;&nbsp; 687478 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.88%, 08/20/2035 | 1074381 | &nbsp;&nbsp; 954904 |
| &nbsp;&nbsp;&nbsp; Fedex Freight Holding Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 03/15/2029\* | 340000 | &nbsp;&nbsp; 340773 |
| &nbsp;&nbsp;&nbsp; GXO Logistics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/06/2029 | 395000 | &nbsp;&nbsp; 417020 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| &nbsp;&nbsp;&nbsp; Ryder System, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/01/2028 | $746000 | &nbsp;&nbsp; $766342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 12/01/2033 | 832000 | &nbsp;&nbsp; 938384 |
| &nbsp;&nbsp;&nbsp; Star Leasing Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 02/15/2030\* | 603000 | &nbsp;&nbsp; 573430 |
| &nbsp;&nbsp;&nbsp; Stonepeak Nile Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/15/2032\* | 481000 | &nbsp;&nbsp; 510448 |
| &nbsp;&nbsp;&nbsp; TTX Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 09/25/2026\* | 1285000 | &nbsp;&nbsp; 1294491 |
|  |  | &nbsp;&nbsp; 10288995 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/10/2030\* | 310000 | &nbsp;&nbsp; 314410 |
| &nbsp;&nbsp;&nbsp; DAE Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 03/20/2028 | 300000 | &nbsp;&nbsp; 293014 |
| &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP/PTL Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/01/2030\* | 592000 | &nbsp;&nbsp; 613114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/30/2029\* | 246000 | &nbsp;&nbsp; 254180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 08/01/2028\* | 496000 | &nbsp;&nbsp; 517066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 06/15/2030\* | 370000 | &nbsp;&nbsp; 397077 |
|  |  | &nbsp;&nbsp; 2388861 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $819,260,331)<br>|  | &nbsp;&nbsp; 822653825 |
| **ASSET BACKED SECURITIES — 6.8%** | **ASSET BACKED SECURITIES — 6.8%** | **ASSET BACKED SECURITIES — 6.8%** |
| **Auto Loan Receivables — 2.7%** | **Auto Loan Receivables — 2.7%** | **Auto Loan Receivables — 2.7%** |
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class D <br>6.04%, 07/12/2030\*<br>| 3037000 | &nbsp;&nbsp; 3100106 |
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-1A, Class A <br>3.83%, 08/21/2028\*<br>| 5000000 | &nbsp;&nbsp; 4990198 |
| &nbsp;&nbsp;&nbsp; Bridgecrest Lending Auto Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class C <br>5.70%, 07/16/2029<br>| 5004000 | &nbsp;&nbsp; 5062117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class D <br>5.83%, 05/15/2030<br>| 2363000 | &nbsp;&nbsp; 2412835 |
| &nbsp;&nbsp;&nbsp; Carmax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A3 <br>4.84%, 01/15/2030<br>| 1130000 | &nbsp;&nbsp; 1147243 |
| &nbsp;&nbsp;&nbsp; CarMax Auto Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1, Class A3 <br>4.75%, 10/15/2027<br>| 184137 | &nbsp;&nbsp; 184452 |
| &nbsp;&nbsp;&nbsp; Citizens Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1, Class A3 <br>5.11%, 04/17/2028\*<br>| 605115 | &nbsp;&nbsp; 608158 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B <br>4.87%, 01/15/2036\*<br>| 1810000 | &nbsp;&nbsp; 1835124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class C <br>5.71%, 07/16/2035\*<br>| 2600000 | &nbsp;&nbsp; 2653945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C <br>6.70%, 10/16/2034\*<br>| 4001000 | &nbsp;&nbsp; 4164479 |
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5A, Class D <br>5.16%, 03/15/2032<br>| 1200000 | &nbsp;&nbsp; 1219919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class D <br>5.89%, 07/15/2031<br>| 4700000 | &nbsp;&nbsp; 4843770 |
| &nbsp;&nbsp;&nbsp; Ford Credit Floorplan Master Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-4, Class A <br>4.06%, 11/15/2030<br>| 1815000 | &nbsp;&nbsp; 1829618 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** | **Auto Loan Receivables (continued)** |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class D <br>5.53%, 02/18/2031\*<br>| $3533000 | &nbsp;&nbsp; $3610445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C <br>6.03%, 02/15/2030\*<br>| 3290000 | &nbsp;&nbsp; 3354375 |
| &nbsp;&nbsp;&nbsp; GLS Auto Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3A, Class C <br>5.92%, 08/15/2030\*<br>| 2500000 | &nbsp;&nbsp; 2593922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GM Financial Consumer Automobile Receivables <br> Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-4, Class A4 <br>4.88%, 08/16/2028<br>| 1250000 | &nbsp;&nbsp; 1255381 |
| &nbsp;&nbsp;&nbsp; Harley-Davidson Motorcycle Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A4 <br>5.29%, 12/15/2031<br>| 2158000 | &nbsp;&nbsp; 2208673 |
| &nbsp;&nbsp;&nbsp; Honda Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2, Class A4 <br>4.91%, 09/17/2029<br>| 1175000 | &nbsp;&nbsp; 1183510 |
| &nbsp;&nbsp;&nbsp; Hyundai Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-C, Class A4 <br>5.55%, 12/17/2029<br>| 1400000 | &nbsp;&nbsp; 1434320 |
| &nbsp;&nbsp;&nbsp; M&T Bank RV Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1A, Class A <br>4.35%, 01/15/2046\*<br>| 800000 | &nbsp;&nbsp; 807059 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-A, Class A4 <br>3.97%, 04/15/2031<br>| 1700000 | &nbsp;&nbsp; 1708768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A4 <br>5.32%, 02/15/2030<br>| 1198000 | &nbsp;&nbsp; 1217695 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1, Class A3 <br>4.51%, 11/15/2027<br>| 378785 | &nbsp;&nbsp; 379476 |
| &nbsp;&nbsp;&nbsp; Santander Drive Auto Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class D <br>4.95%, 01/15/2032<br>| 960000 | &nbsp;&nbsp; 971552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-3, Class D <br>5.97%, 10/15/2031<br>| 3405000 | &nbsp;&nbsp; 3515214 |
| &nbsp;&nbsp;&nbsp; SBNA Auto Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-B, Class A4 <br>5.55%, 12/20/2028\*<br>| 1633000 | &nbsp;&nbsp; 1650613 |
| &nbsp;&nbsp;&nbsp; Tesla Electric Vehicle Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1, Class A3 <br>5.38%, 06/20/2028\*<br>| 139789 | &nbsp;&nbsp; 141020 |
| &nbsp;&nbsp;&nbsp; Toyota Auto Receivables Owner Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-B, Class A4 <br>4.66%, 09/15/2028<br>| 3970000 | &nbsp;&nbsp; 4004114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A4 <br>4.77%, 04/16/2029<br>| 920000 | &nbsp;&nbsp; 935336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-C, Class A3 <br>4.88%, 03/15/2029<br>| 2800000 | &nbsp;&nbsp; 2825097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-D, Class A3 <br>5.54%, 08/15/2028<br>| 1292341 | &nbsp;&nbsp; 1305879 |
| &nbsp;&nbsp;&nbsp; Volkswagen Auto Loan Enhanced Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A4 <br>4.61%, 07/21/2031<br>| 1450000 | &nbsp;&nbsp; 1476729 |
|  |  | &nbsp;&nbsp; 70631142 |
| **Credit Card Receivables — 0.4%** | **Credit Card Receivables — 0.4%** | **Credit Card Receivables — 0.4%** |
| &nbsp;&nbsp;&nbsp; American Express Credit Account Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class A <br>4.30%, 07/15/2030<br>| 800000 | &nbsp;&nbsp; 812110 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Credit Card Receivables (continued)** | **Credit Card Receivables (continued)** | **Credit Card Receivables (continued)** |
| &nbsp;&nbsp;&nbsp; BA Credit Card Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-A2, Class A2 <br>4.98%, 11/15/2028<br>| $1850000 | &nbsp;&nbsp; $1865784 |
| &nbsp;&nbsp;&nbsp; Capital One Multi-Asset Execution Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A3, Class A <br>4.65%, 10/15/2037<br>| 800000 | &nbsp;&nbsp; 817892 |
| &nbsp;&nbsp;&nbsp; Chase Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A2, Class A <br>4.63%, 01/15/2031<br>| 900000 | &nbsp;&nbsp; 924933 |
| &nbsp;&nbsp;&nbsp; Citibank Credit Card Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-A7, Class A7 <br>3.96%, 10/13/2030<br>| 325000 | &nbsp;&nbsp; 327497 |
| &nbsp;&nbsp;&nbsp; Mercury Financial Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A <br>6.56%, 07/20/2029\*<br>| 2735000 | &nbsp;&nbsp; 2742827 |
| &nbsp;&nbsp;&nbsp; WF Card Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A1, Class A <br>4.94%, 02/15/2029<br>| 700000 | &nbsp;&nbsp; 708060 |
| &nbsp;&nbsp;&nbsp; World Financial Network Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A <br>5.47%, 02/15/2031<br>| 2079000 | &nbsp;&nbsp; 2116543 |
|  |  | &nbsp;&nbsp; 10315646 |
| **Other Asset Backed Securities — 3.7%** | **Other Asset Backed Securities — 3.7%** | **Other Asset Backed Securities — 3.7%** |
| &nbsp;&nbsp;&nbsp; AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class C <br>4.29%, 07/17/2041\*(5)<br>| 2523000 | &nbsp;&nbsp; 2487635 |
| &nbsp;&nbsp;&nbsp; Bridge Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class C <br>4.30%, 08/17/2040\*<br>| 2100000 | &nbsp;&nbsp; 2052896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR1, Class D <br>4.30%, 08/17/2040\*<br>| 2277000 | &nbsp;&nbsp; 2213212 |
| &nbsp;&nbsp;&nbsp; Cascade MH Asset Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MH1, Class A1 <br>5.70%, 11/25/2056\*(1)<br>| 2497622 | &nbsp;&nbsp; 2594098 |
| &nbsp;&nbsp;&nbsp; CFMT LLC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HB13, Class M1 <br>3.00%, 05/25/2034\*(1)<br>| 2695000 | &nbsp;&nbsp; 2636126 |
| &nbsp;&nbsp;&nbsp; Crossroads Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class C <br>5.51%, 02/20/2032\*<br>| 695000 | &nbsp;&nbsp; 711654 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class E1 <br>2.39%, 08/17/2038\*<br>| 3500000 | &nbsp;&nbsp; 3453554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class E2 <br>2.49%, 08/17/2038\*<br>| 4000000 | &nbsp;&nbsp; 3947698 |
| &nbsp;&nbsp;&nbsp; GoodLeap Home Improvement Solutions Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A <br>5.00%, 10/20/2049\*<br>| 2331433 | &nbsp;&nbsp; 2350140 |
| &nbsp;&nbsp;&nbsp; GreatAmerica Leasing Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A3 <br>5.00%, 09/15/2028\*<br>| 1467000 | &nbsp;&nbsp; 1487820 |
| &nbsp;&nbsp;&nbsp; HINNT LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class B <br>5.45%, 03/15/2044\*<br>| 2364672 | &nbsp;&nbsp; 2423270 |
| &nbsp;&nbsp;&nbsp; Home Partners of America Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class E1 <br>2.85%, 12/17/2026\*<br>| 2844905 | &nbsp;&nbsp; 2794883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class E2 <br>2.95%, 12/17/2026\*<br>| 215886 | &nbsp;&nbsp; 212004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-2, Class E <br>3.32%, 10/19/2039\*<br>| 915851 | &nbsp;&nbsp; 892268 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-1, Class D <br>3.41%, 09/17/2039\*<br>| $1524362 | &nbsp;&nbsp; $1498912 |
| &nbsp;&nbsp;&nbsp; Identity Digital Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.79%, 03/20/2065 | 3000000 | &nbsp;&nbsp; 3048300 |
| &nbsp;&nbsp;&nbsp; Jonah Energy ABS II LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A1 <br>6.50%, 08/10/2039\*<br>| 1942315 | &nbsp;&nbsp; 1953969 |
| &nbsp;&nbsp;&nbsp; Mariner Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AA, Class C <br>6.00%, 09/22/2036\*<br>| 1314000 | &nbsp;&nbsp; 1340786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AA, Class D <br>6.77%, 09/22/2036\*<br>| 2678000 | &nbsp;&nbsp; 2741542 |
| &nbsp;&nbsp;&nbsp; Navient Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-A, Class A2A <br>2.46%, 11/15/2068\*<br>| 457983 | &nbsp;&nbsp; 445527 |
| &nbsp;&nbsp;&nbsp; Navient Refinance Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-A, Class A <br>4.50%, 01/18/2056\*<br>| 800000 | &nbsp;&nbsp; 801712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B, Class A <br>4.72%, 09/15/2055\*<br>| 562197 | &nbsp;&nbsp; 568048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class A <br>5.15%, 02/16/2055\*<br>| 193471 | &nbsp;&nbsp; 197333 |
| &nbsp;&nbsp;&nbsp; OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-2A, Class B <br>2.21%, 09/14/2035\*<br>| 2800000 | &nbsp;&nbsp; 2718199 |
| &nbsp;&nbsp;&nbsp; Oportun Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C, Class A <br>2.18%, 10/08/2031\*<br>| 1405439 | &nbsp;&nbsp; 1383661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-D, Class B <br>5.31%, 02/08/2033\*<br>| 3545000 | &nbsp;&nbsp; 3567701 |
| &nbsp;&nbsp;&nbsp; PEAC Solutions Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A3 <br>5.64%, 11/20/2030\*<br>| 4500000 | &nbsp;&nbsp; 4608164 |
| &nbsp;&nbsp;&nbsp; Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR4, Class C <br>3.33%, 07/17/2041\*<br>| 1228000 | &nbsp;&nbsp; 1176824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR3, Class C <br>3.50%, 06/17/2041\*<br>| 1939000 | &nbsp;&nbsp; 1864234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR3, Class D <br>3.50%, 06/17/2041\*<br>| 2764000 | &nbsp;&nbsp; 2649321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR10, Class E1 <br>3.57%, 12/17/2040\*<br>| 2903347 | &nbsp;&nbsp; 2827825 |
| &nbsp;&nbsp;&nbsp; Reach ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B <br>5.12%, 08/18/2032\*<br>| 1825000 | &nbsp;&nbsp; 1846161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class B <br>5.84%, 07/15/2031\*<br>| 2613000 | &nbsp;&nbsp; 2645520 |
| &nbsp;&nbsp;&nbsp; ReNew |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class A <br>5.90%, 11/20/2058\*<br>| 3830739 | &nbsp;&nbsp; 4014935 |
| &nbsp;&nbsp;&nbsp; Republic Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A <br>5.91%, 08/20/2032\*<br>| 2400000 | &nbsp;&nbsp; 2423299 |
| &nbsp;&nbsp;&nbsp; SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class C <br>4.82%, 06/20/2036\*<br>| 1850000 | &nbsp;&nbsp; 1889682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C <br>5.82%, 09/20/2032\*<br>| 1728000 | &nbsp;&nbsp; 1804868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class D <br>6.58%, 06/21/2033\*<br>| 2094000 | &nbsp;&nbsp; 2207735 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; SCF Equipment Trust LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class D <br>5.88%, 11/20/2035\*<br>| $623000 | &nbsp;&nbsp; $652548 |
| &nbsp;&nbsp;&nbsp; Sierra Timeshare Receivables Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class C <br>5.83%, 06/20/2041\*<br>| 1117208 | &nbsp;&nbsp; 1139008 |
| &nbsp;&nbsp;&nbsp; Stream Innovations Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class B <br>5.48%, 09/15/2045\*<br>| 1541726 | &nbsp;&nbsp; 1569907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A <br>6.27%, 07/15/2044\*<br>| 2188451 | &nbsp;&nbsp; 2289488 |
| &nbsp;&nbsp;&nbsp; Tricon Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SFR2, Class A <br>4.75%, 06/17/2040\*<br>| 2691478 | &nbsp;&nbsp; 2703455 |
| &nbsp;&nbsp;&nbsp; Verdant Receivables LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2 <br>5.68%, 12/12/2031\*<br>| 915260 | &nbsp;&nbsp; 932606 |
| &nbsp;&nbsp;&nbsp; Verizon Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-10, Class A <br>4.28%, 10/20/2033\*<br>| 1135000 | &nbsp;&nbsp; 1151520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-6, Class A <br>5.35%, 09/22/2031\*<br>| 3340000 | &nbsp;&nbsp; 3472387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-7, Class A1A <br>5.67%, 11/20/2029<br>| 200000 | &nbsp;&nbsp; 202663 |
| &nbsp;&nbsp;&nbsp; Westgate Resorts LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class B <br>6.56%, 01/20/2038\*<br>| 1275274 | &nbsp;&nbsp; 1296086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C <br>7.06%, 01/20/2038\*<br>| 1455693 | &nbsp;&nbsp; 1480080 |
|  |  | &nbsp;&nbsp; 97371264 |
| &nbsp;&nbsp;&nbsp; **Total Asset Backed Securities** <br>(cost $173,271,727)<br>|  | &nbsp;&nbsp; 178318052 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.1%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.1%** |
| **Commercial and Residential — 2.5%** | **Commercial and Residential — 2.5%** | **Commercial and Residential — 2.5%** |
| &nbsp;&nbsp;&nbsp; Ajax Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-A, Class A1 <br>3.50%, 10/25/2061\*(5)<br>| 3744055 | &nbsp;&nbsp; 3673138 |
| &nbsp;&nbsp;&nbsp; Anchor Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL1, Class A1 <br>5.72%, 05/25/2040\*(5)<br>| 1705000 | &nbsp;&nbsp; 1714724 |
| &nbsp;&nbsp;&nbsp; BAMLL Re-REMIC Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-FRR3, Class B <br>1.41%, 01/27/2050\*(1)<br>| 5000000 | &nbsp;&nbsp; 4817930 |
| &nbsp;&nbsp;&nbsp; Brean Asset Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RM8, Class A1 <br>4.50%, 05/25/2064\*<br>| 1823197 | &nbsp;&nbsp; 1816586 |
| &nbsp;&nbsp;&nbsp; BVRT LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A <br>3.66%, (SOFR30A+0.00%), 05/10/2033\*<br>| 2649132 | &nbsp;&nbsp; 2561745 |
| &nbsp;&nbsp;&nbsp; BX Commercial Mtg. Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-IMC, Class A <br>4.71%, (TSFR1M+1.05%), 04/15/2034\*<br>| 1554232 | &nbsp;&nbsp; 1546461 |
| &nbsp;&nbsp;&nbsp; Center Street Lending Resi-Investor ABS Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL1, Class A1 <br>6.89%, 10/25/2029\*(5)<br>| 2950000 | &nbsp;&nbsp; 2981186 |
| &nbsp;&nbsp;&nbsp; Chase Mtg. Finance Corp. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-SH2, Class M2 <br>3.75%, 12/25/2045\*(1)<br>| 736342 | &nbsp;&nbsp; 704292 |
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C5, Class A4 <br>4.23%, 06/10/2051(1)<br>| 1000000 | &nbsp;&nbsp; 1002136 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **Commercial and Residential (continued)** | **Commercial and Residential (continued)** | **Commercial and Residential (continued)** |
| &nbsp;&nbsp;&nbsp; DBSG Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-ALTA, Class A <br>5.95%, 06/10/2037\*(1)<br>| $2900000 | &nbsp;&nbsp; $2941757 |
| &nbsp;&nbsp;&nbsp; GS Mtg. Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL4, Class A1 <br>3.90%, 09/25/2061\*(5)<br>| 2818224 | &nbsp;&nbsp; 2787613 |
| &nbsp;&nbsp;&nbsp; GS Mtg. Backed Securities Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SL1, Class A1 <br>5.85%, 11/25/2067\*(1)<br>| 2902312 | &nbsp;&nbsp; 2940097 |
| &nbsp;&nbsp;&nbsp; LHOME Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL5, Class A1 <br>5.32%, 09/25/2039\*(5)<br>| 2300000 | &nbsp;&nbsp; 2304425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL1, Class A1 <br>5.65%, 01/25/2040\*(5)<br>| 2100000 | &nbsp;&nbsp; 2117008 |
| &nbsp;&nbsp;&nbsp; MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL3, Class A1 <br>5.91%, 11/25/2039\*(5)<br>| 3260000 | &nbsp;&nbsp; 3279322 |
| &nbsp;&nbsp;&nbsp; MSDB Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-712F, Class A <br>3.32%, 07/11/2039\*(1)<br>| 5310000 | &nbsp;&nbsp; 5151066 |
| &nbsp;&nbsp;&nbsp; New Residential Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL2, Class A1 <br>5.44%, 09/25/2039\*(5)<br>| 4000000 | &nbsp;&nbsp; 4047591 |
| &nbsp;&nbsp;&nbsp; One Bryant Park Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-OBP, Class A <br>2.52%, 09/15/2054\*<br>| 11400000 | &nbsp;&nbsp; 10708191 |
| &nbsp;&nbsp;&nbsp; PRET Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL2, Class A1 <br>4.08%, 06/25/2064\*(1)<br>| 2407418 | &nbsp;&nbsp; 2330929 |
| &nbsp;&nbsp;&nbsp; PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RCF3, Class A1 <br>4.00%, 05/25/2054\*(5)<br>| 1192426 | &nbsp;&nbsp; 1185634 |
| &nbsp;&nbsp;&nbsp; Roc Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL1, Class A1 <br>5.63%, 02/25/2040\*(5)<br>| 1600000 | &nbsp;&nbsp; 1608446 |
| &nbsp;&nbsp;&nbsp; ROCK Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-CNTR, Class A <br>5.39%, 11/13/2041\*<br>| 1100000 | &nbsp;&nbsp; 1138452 |
| &nbsp;&nbsp;&nbsp; Shellpoint Co.-Originator Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-2, Class A1 <br>3.50%, 10/25/2047\*(1)<br>| 145242 | &nbsp;&nbsp; 137026 |
| &nbsp;&nbsp;&nbsp; Toorak Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RRTL1, Class A1 <br>5.52%, 02/25/2040\*(5)<br>| 2500000 | &nbsp;&nbsp; 2516178 |
|  |  | &nbsp;&nbsp; 66011933 |
| **U.S. Government Agency — 1.6%** | **U.S. Government Agency — 1.6%** | **U.S. Government Agency — 1.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. Multifamily Mtg. Trust <br> VRS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-K105, Class C <br>3.53%, 03/25/2053\*(1)<br>| 4800000 | &nbsp;&nbsp; 4612084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-K70, Class C <br>3.81%, 12/25/2049\*(1)<br>| 4500000 | &nbsp;&nbsp; 4452317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K91, Class C <br>4.26%, 04/25/2051\*(1)<br>| 3000000 | &nbsp;&nbsp; 2967944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-K83, Class B <br>4.28%, 11/25/2051\*(1)<br>| 3000000 | &nbsp;&nbsp; 2999635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K90, Class C <br>4.32%, 02/25/2052\*(1)<br>| 1500000 | &nbsp;&nbsp; 1492183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-K88, Class C <br>4.39%, 02/25/2052\*(1)<br>| 1645000 | &nbsp;&nbsp; 1624989 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. Multifamily <br> Structured Credit Risk FRS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-MN8, Class M1 <br>6.52%, (SOFR30A+2.85%), 05/25/2044\*<br>| $1427203 | &nbsp;&nbsp; $1435942 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4740, Class BA <br>3.00%, 09/15/2045<br>| 164252 | &nbsp;&nbsp; 162534 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3572, Class JS <br>3.03%, (6.69%-SOFR30A), 09/15/2039(6)(7)<br>| 143062 | &nbsp;&nbsp; 7221 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-95, Class GA <br>1.88%, 03/25/2051<br>| 4288193 | &nbsp;&nbsp; 3650275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-100, Class NP <br>3.00%, 12/25/2047<br>| 2108674 | &nbsp;&nbsp; 1954643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-27, Class EA <br>3.00%, 05/25/2048<br>| 2703027 | &nbsp;&nbsp; 2487455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-35, Class CD <br>3.00%, 05/25/2048<br>| 2840456 | &nbsp;&nbsp; 2582964 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-M2, Class 3A2 <br>2.01%, 04/25/2032(1)<br>| 5000000 | &nbsp;&nbsp; 4462345 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6, Class A <br>3.50%, 11/20/2050<br>| 4435561 | &nbsp;&nbsp; 4299000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-64, Class YH <br>5.00%, 04/20/2054<br>| 2951058 | &nbsp;&nbsp; 2929127 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-118, Class B <br>2.50%, 10/16/2043(1)<br>| 652144 | &nbsp;&nbsp; 629577 |
|  |  | &nbsp;&nbsp; 42750235 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(cost $106,189,767)<br>|  | &nbsp;&nbsp; 108762168 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 55.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 55.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 55.6%** |
| **U.S. Government — 22.2%** | **U.S. Government — 22.2%** | **U.S. Government — 22.2%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.25%, 05/15/2050 | 1219000 | &nbsp;&nbsp; 610786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 08/15/2050 | 20871000 | &nbsp;&nbsp; 10743673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.75%, 08/15/2041 | 14960000 | &nbsp;&nbsp; 10443950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.88%, 02/15/2051 to 11/15/2051 | 9801000 | &nbsp;&nbsp; 5692417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.00%, 11/15/2041 to 08/15/2051 | 13971000 | &nbsp;&nbsp; 9954637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.25%, 02/15/2052 | 23835000 | &nbsp;&nbsp; 15078431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.38%, 02/15/2042 to 05/15/2051 | 41881000 | &nbsp;&nbsp; 28837442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 11/15/2045 to 05/15/2047 | 8984000 | &nbsp;&nbsp; 7001350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.38%, 11/15/2048 | 22308000 | &nbsp;&nbsp; 18290817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.63%, 08/15/2043 | 4188000 | &nbsp;&nbsp; 3730592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.13%, 08/15/2053# | 187000 | &nbsp;&nbsp; 171551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 02/15/2054 to 08/15/2054 | 23562000 | &nbsp;&nbsp; 22072708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 02/15/2044 | 19595000 | &nbsp;&nbsp; 19533000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 05/15/2044 to 11/15/2044 | 5201000 | &nbsp;&nbsp; 5257384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.75%, 11/15/2043 to 08/15/2055 | 14467000 | &nbsp;&nbsp; 14732297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.88%, 08/15/2045 | 291000 | &nbsp;&nbsp; 302685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 05/15/2045 | 1160000 | &nbsp;&nbsp; 1226247 |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>Zero Coupon, 11/15/2031 to 02/15/2043 | 84551000 | &nbsp;&nbsp; 57989112 |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.25%, 12/31/2026 | 838000 | &nbsp;&nbsp; 822278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.50%, 01/31/2027 | 2280000 | &nbsp;&nbsp; 2238194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.63%, 11/30/2026 | 640000 | &nbsp;&nbsp; 630830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.75%, 11/15/2029# | 1279000 | &nbsp;&nbsp; 1204958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.25%, 08/15/2027 | 230000 | &nbsp;&nbsp; 226110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.38%, 05/15/2029 | 500000 | &nbsp;&nbsp; 484434 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS (continued)** |
| **U.S. Government (continued)** | **U.S. Government (continued)** | **U.S. Government (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.63%, 02/15/2029 | $68000 | &nbsp;&nbsp; $66534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.88%, 04/30/2029 | 35010000 | &nbsp;&nbsp; 34454763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 02/15/2033 | 5082000 | &nbsp;&nbsp; 5012321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.75%, 05/15/2028 | 2000000 | &nbsp;&nbsp; 2015078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 08/31/2032 to 08/15/2034 | 14610000 | &nbsp;&nbsp; 14731574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 12/31/2032# | 2000000 | &nbsp;&nbsp; 2019687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 01/31/2029 to 11/15/2035 | 60578000 | &nbsp;&nbsp; 61633042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.13%, 03/31/2029 to 05/31/2032 | 106200000 | &nbsp;&nbsp; 108807491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 01/15/2028 to 08/15/2035 | 50804000 | &nbsp;&nbsp; 52203399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 02/28/2031# | 12719000 | &nbsp;&nbsp; 13132367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.38%, 12/31/2029 to 01/31/2032 | 11404000 | &nbsp;&nbsp; 11838268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 03/31/2026 to 11/15/2033 | 31392000 | &nbsp;&nbsp; 32878529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 04/30/2029 to 04/30/2031 | 8600000 | &nbsp;&nbsp; 8947914 |
|  |  | &nbsp;&nbsp; 585016850 |
| **U.S. Government Agency — 33.4%** | **U.S. Government Agency — 33.4%** | **U.S. Government Agency — 33.4%** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.13%, 09/14/2029 | 7765000 | &nbsp;&nbsp; 7398157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.25%, 11/16/2028# | 1000000 | &nbsp;&nbsp; 997631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 07/15/2036 | 250000 | &nbsp;&nbsp; 279782 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.50%, 04/01/2037 | 7752651 | &nbsp;&nbsp; 7070434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.00%, 02/01/2036 to 04/01/2052 | 43521999 | &nbsp;&nbsp; 37893799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 01/01/2028 to 11/01/2051 | 26266221 | &nbsp;&nbsp; 23165758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 08/01/2027 to 11/01/2046 | 9694045 | &nbsp;&nbsp; 9134488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 11/01/2041 to 03/01/2053 | 36242153 | &nbsp;&nbsp; 34609339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 09/01/2040 to 06/01/2052 | 16876367 | &nbsp;&nbsp; 16591111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 12/01/2039 to 12/01/2048 | 6424195 | &nbsp;&nbsp; 6480925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 10/01/2033 to 06/01/2055 | 20190755 | &nbsp;&nbsp; 20392156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 11/01/2032 to 12/01/2054 | 40349328 | &nbsp;&nbsp; 41102049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 10/01/2033 to 07/01/2055 | 7771089 | &nbsp;&nbsp; 7974272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.50%, 02/01/2035 to 01/01/2054 | 4284702 | &nbsp;&nbsp; 4448643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.75%, 09/15/2029 to 03/15/2031 | 750000 | &nbsp;&nbsp; 841944 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.68%, (RFUCCT6M+1.49%), 02/01/2037 | 30634 | &nbsp;&nbsp; 31555 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.17%, 11/01/2030 | 9000000 | &nbsp;&nbsp; 7980302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.50%, 12/01/2050 to 03/01/2051 | 8340581 | &nbsp;&nbsp; 6642507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.97%, 11/01/2031 | 4447905 | &nbsp;&nbsp; 4030785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.00%, 11/01/2035 to 03/01/2052 | 111867695 | &nbsp;&nbsp; 94921603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.37%, 06/01/2029 | 2948715 | &nbsp;&nbsp; 2823948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 12/01/2026 to 05/01/2052 | 134894060 | &nbsp;&nbsp; 119382610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 10/01/2027 to 07/01/2052 | 76391396 | &nbsp;&nbsp; 70166573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 08/01/2026 to 04/01/2052 | 51253786 | &nbsp;&nbsp; 48902319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 07/01/2040 to 10/01/2052 | 42483295 | &nbsp;&nbsp; 41700980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.37%, 01/01/2032 | 7294973 | &nbsp;&nbsp; 7450346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.42%, 06/01/2032 | 6200000 | &nbsp;&nbsp; 6335577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.45%, 08/01/2032 | 2000000 | &nbsp;&nbsp; 2046401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.48%, 05/01/2035 | 8550760 | &nbsp;&nbsp; 8716404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 02/01/2040 to 09/01/2054 | 22739487 | &nbsp;&nbsp; 22712682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.61%, 07/01/2032 to 10/01/2032 | 13787000 | &nbsp;&nbsp; 14209980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.70%, 05/01/2035 | 2735200 | &nbsp;&nbsp; 2817647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.90%, 04/01/2035 | 7892000 | &nbsp;&nbsp; 8234768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.96%, 09/01/2032 | 5547000 | &nbsp;&nbsp; 5792323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 09/01/2033 to 11/01/2054 | 34663470 | &nbsp;&nbsp; 34982838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.02%, 01/01/2033 | 1933000 | &nbsp;&nbsp; 2024363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.08%, 09/01/2031 | 831647 | &nbsp;&nbsp; 874159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.24%, 12/01/2033 | 2782000 | &nbsp;&nbsp; 2979231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 04/01/2033 to 09/01/2053 | 11834821 | &nbsp;&nbsp; 12090115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 02/01/2032 to 11/01/2053 | 30139416 | &nbsp;&nbsp; 31043355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.50%, 10/01/2037 to 12/01/2053 | 5580983 | &nbsp;&nbsp; 5797695 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.21%, (RFUCCT1Y+1.57%), 05/01/2037 | $43107 | &nbsp;&nbsp; $44666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.35%, 11/01/2036 to 10/01/2040 | 284280 | &nbsp;&nbsp; 296226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.57%, (RFUCCT1Y+1.83%), 10/01/2040 | 38565 | &nbsp;&nbsp; 40224 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.46%, 11/01/2032(1) | 5394957 | &nbsp;&nbsp; 4642032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.51%, 11/01/2032(1) | 9070847 | &nbsp;&nbsp; 7827064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.15%, 02/01/2032(1) | 7879446 | &nbsp;&nbsp; 7168087 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.00%, 11/20/2050 | 5024577 | &nbsp;&nbsp; 4258275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 05/20/2050 to 12/20/2051 | 23778782 | &nbsp;&nbsp; 21006491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 02/20/2045 to 02/20/2052 | 25853036 | &nbsp;&nbsp; 23931132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 03/20/2045 to 10/20/2047 | 1452620 | &nbsp;&nbsp; 1395457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 03/20/2044 to 05/20/2048 | 1751534 | &nbsp;&nbsp; 1721378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 05/15/2039 to 07/20/2052 | 9725175 | &nbsp;&nbsp; 9721008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 12/15/2039 to 05/20/2053 | 12051344 | &nbsp;&nbsp; 12330124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 10/15/2039 | 62537 | &nbsp;&nbsp; 64762 |
|  |  | &nbsp;&nbsp; 877518480 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Obligations** <br>(cost $1,532,443,410)<br>|  | &nbsp;&nbsp; 1462535330 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 1.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 1.3%** | **FOREIGN GOVERNMENT OBLIGATIONS — 1.3%** |
| **Regional(State/Province) — 0.1%** | **Regional(State/Province) — 0.1%** | **Regional(State/Province) — 0.1%** |
| &nbsp;&nbsp;&nbsp; Province of British Columbia Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 07/06/2033 | 1054000 | &nbsp;&nbsp; 1064580 |
| **Sovereign — 1.2%** | **Sovereign — 1.2%** | **Sovereign — 1.2%** |
| &nbsp;&nbsp;&nbsp; Commonwealth of Bahamas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 06/24/2036 | 500000 | &nbsp;&nbsp; 560265 |
| &nbsp;&nbsp;&nbsp; Eagle Funding Luxco SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 08/17/2030\* | 3011000 | &nbsp;&nbsp; 3063361 |
| &nbsp;&nbsp;&nbsp; Emirate of Abu Dhabi |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 09/02/2070 | 400000 | &nbsp;&nbsp; 227693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/16/2050 | 400000 | &nbsp;&nbsp; 322520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 10/11/2047 | 400000 | &nbsp;&nbsp; 343815 |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/22/2036 | 500000 | &nbsp;&nbsp; 503850 |
| &nbsp;&nbsp;&nbsp; Government of Romania |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/25/2034 | 400000 | &nbsp;&nbsp; 413308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/16/2036\* | 1080000 | &nbsp;&nbsp; 1150131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/17/2053 | 400000 | &nbsp;&nbsp; 460811 |
| &nbsp;&nbsp;&nbsp; Kingdom of Saudi Arabia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/02/2061 | 700000 | &nbsp;&nbsp; 457168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 10/04/2047 | 200000 | &nbsp;&nbsp; 174415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/18/2053 | 500000 | &nbsp;&nbsp; 448662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/16/2054\* | 400000 | &nbsp;&nbsp; 400375 |
| &nbsp;&nbsp;&nbsp; Oriental Republic of Uruguay |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/18/2050 | 100000 | &nbsp;&nbsp; 95890 |
| &nbsp;&nbsp;&nbsp; Republic of Azerbaijan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/2032 | 300000 | &nbsp;&nbsp; 282365 |
| &nbsp;&nbsp;&nbsp; Republic of Chile |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/22/2029 | 400000 | &nbsp;&nbsp; 408700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/05/2036 | 400000 | &nbsp;&nbsp; 408640 |
| &nbsp;&nbsp;&nbsp; Republic of Hungary |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/26/2035\* | 1000000 | &nbsp;&nbsp; 1052450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/25/2052 | 500000 | &nbsp;&nbsp; 545559 |
| &nbsp;&nbsp;&nbsp; Republic of Italy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 05/06/2051 | 585000 | &nbsp;&nbsp; 445393 |
| &nbsp;&nbsp;&nbsp; Republic of Ivory Coast |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/30/2033 | 450000 | &nbsp;&nbsp; 481992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.08%, 04/01/2036\* | 600000 | &nbsp;&nbsp; 647986 |
| &nbsp;&nbsp;&nbsp; Republic of Kazakhstan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 10/28/2030\* | 200000 | &nbsp;&nbsp; 199804 |

---

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |
| **Sovereign (continued)** | **Sovereign (continued)** | **Sovereign (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/01/2037\* | $1200000 | &nbsp;&nbsp; $1240691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/21/2045 | 400000 | &nbsp;&nbsp; 442554 |
| &nbsp;&nbsp;&nbsp; Republic of Panama |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.87%, 07/23/2060 | 300000 | &nbsp;&nbsp; 208065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 02/23/2034 | 678000 | &nbsp;&nbsp; 677661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 02/14/2035 | 400000 | &nbsp;&nbsp; 426960 |
| &nbsp;&nbsp;&nbsp; Republic of Peru |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.84%, 06/20/2030 | 200000 | &nbsp;&nbsp; 189180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/30/2036 | 600000 | &nbsp;&nbsp; 619380 |
| &nbsp;&nbsp;&nbsp; Republic of Serbia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 06/12/2034 | 1000000 | &nbsp;&nbsp; 1055893 |
| &nbsp;&nbsp;&nbsp; Republic of South Africa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/11/2055\* | 550000 | &nbsp;&nbsp; 550267 |
| &nbsp;&nbsp;&nbsp; Republic of Trinidad & Tobago |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/26/2034 | 300000 | &nbsp;&nbsp; 304296 |
| &nbsp;&nbsp;&nbsp; State of Qatar |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 04/16/2050 | 720000 | &nbsp;&nbsp; 648085 |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 08/14/2041 | 2803000 | &nbsp;&nbsp; 2279680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/22/2033 | 3842000 | &nbsp;&nbsp; 3838350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 01/21/2045 | 300000 | &nbsp;&nbsp; 280020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 07/02/2032 | 1374000 | &nbsp;&nbsp; 1420510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/13/2030 | 587000 | &nbsp;&nbsp; 614795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/07/2036 | 720000 | &nbsp;&nbsp; 737100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/09/2038 | 600000 | &nbsp;&nbsp; 607410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 05/04/2053 | 218000 | &nbsp;&nbsp; 211438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 02/09/2035 | 800000 | &nbsp;&nbsp; 842840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/29/2038 | 573000 | &nbsp;&nbsp; 605375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 05/13/2037 | 1443000 | &nbsp;&nbsp; 1555193 |
|  |  | &nbsp;&nbsp; 32450896 |
| &nbsp;&nbsp;&nbsp; **Total Foreign Government Obligations** <br>(cost $33,162,248)<br>|  | &nbsp;&nbsp; 33515476 |
| **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** |
| **Sovereign — 0.0%** | **Sovereign — 0.0%** | **Sovereign — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. <br>Series Z <br>8.38%12/31/2027†(3) <br>(cost $48,512)<br>| 3142 | &nbsp;&nbsp; 39369 |
| **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hi-Crush, Inc. †(8) <br>(cost $0)<br>| 123 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $2,664,375,995)<br>|  | &nbsp;&nbsp; 2605824220 |
| **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** | **SHORT-TERM INVESTMENTS — 0.8%** |
| **Unaffiliated Investment Companies — 0.8%** | **Unaffiliated Investment Companies — 0.8%** | **Unaffiliated Investment Companies — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class <br>3.63%(9)<br>| 12126023 | &nbsp;&nbsp; 12126024 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Unaffiliated Investment Companies (continued)** | **Unaffiliated Investment Companies (continued)** | **Unaffiliated Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(9)(10)<br>| 8169964 | &nbsp;&nbsp; $8169964 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $20,295,988)<br>|  | &nbsp;&nbsp; 20295988 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $2,684,671,983)<br>| 99.8<br> %<br>| &nbsp;&nbsp; 2626120208 |
| Other assets less liabilities | 0.2 | &nbsp;&nbsp; 6528630 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $2632648838 |

---

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

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The Core Bond Fund has no right to demand registration of these <br> securities. At February 28, 2026, the aggregate value of these securities was <br> $486,513,791 representing 18.5% of net assets.<br>|
| # | The security or a portion thereof is out on loan. |
| † | Non-income producing security |
| (1) | &nbsp;&nbsp; Certain variable rate securities are not based on a published reference rate and spread <br> but are determined by the issuer or agent and are based on current market conditions. <br> These securities do not indicate a reference rate and spread in their description above.<br>|
| (2) | Security in default of interest. |
| (3) | Perpetual maturity - maturity date reflects the next call date. |
| (4) | &nbsp;&nbsp; PIK ("Payment-in-Kind") security – Income may be paid in additional securities and/or <br> cash at the discretion of the issuer.<br>|
| (5) | &nbsp;&nbsp; "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate <br> reflected is as of February 28, 2026.<br>|
| (6) | &nbsp;&nbsp; Inverse Floating Rate Security that pays interest that varies inversely to changes in the <br> market interest rates. The interest rate shown is the current interest rate at February 28, <br> 2026.<br>|
| (7) | Interest Only |
| (8) | Securities classified as Level 3 (see Note 1). |
| (9) | The rate shown is the 7-day yield as of February 28, 2026. |
| (10) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $17,977,663. <br> This was secured by collateral of $8,169,964, which was received in cash and <br> subsequently invested in short-term investments currently valued at $8,169,964 as <br> reported in the Portfolio of Investments. Additional collateral of $10,233,808 was <br> received in the form of fixed income pooled securities, which the Fund cannot sell or <br> repledge and accordingly, are not reflected in the Fund's assets and liabilities. The <br> components of the fixed income pooled securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. <br> Corp.<br>| 0.87% to 9.50% | 04/15/2027 to 03/01/2056 | $624046 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. <br> Assoc.<br>| 0.86% to 16.67% | 01/25/2027 to 01/01/2056 | 368495 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 0.75% to 8.54% | 12/16/2035 to 02/16/2068 | 259148 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Bills<br>| 0.00% | 04/16/2026 to 07/23/2026 | 19445 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 4.88% | 04/15/2026 to 11/15/2055 | 8962674 |

---

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

---

| |
|:---|
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| RFUCCT1Y—Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 Year |
| RFUCCT6M—Refinitiv USD IBOR Consumer Cash Fallbacks Term 6 Month |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| STRIPS—Separate Trading of Registered Interest and Principal |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| VRS—Variable Rate Security |

---

The rates shown on FRS and/or VRS are the current interest rates at February 28, 2026 and unless noted otherwise, the dates shown are the original maturity dates.

------

**VALIC Company I Core Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 241 | Long | U.S. Treasury 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $27303054 | &nbsp;&nbsp;&nbsp;&nbsp; $27428812 | &nbsp;&nbsp;&nbsp;&nbsp; $125758 |
| 406 | Long | U.S. Treasury 2 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 84863925 | &nbsp;&nbsp;&nbsp;&nbsp; 84965016 | &nbsp;&nbsp;&nbsp;&nbsp; 101091 |
| 250 | Long | U.S. Treasury Ultra 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 28887124 | &nbsp;&nbsp;&nbsp;&nbsp; 29183594 | &nbsp;&nbsp;&nbsp;&nbsp; 296470 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $523319 |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 110 | Short | U.S. Treasury 5 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $12088120 | &nbsp;&nbsp;&nbsp;&nbsp; $12115469 | &nbsp;&nbsp;&nbsp;&nbsp; $(27349)<br>|
| 42 | Short | U.S. Treasury Long Bonds | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4912945 | &nbsp;&nbsp;&nbsp;&nbsp; 4975688 | &nbsp;&nbsp;&nbsp;&nbsp; (62743)<br>|
| 42 | Short | U.S. Treasury Ultra Bonds | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5033699 | &nbsp;&nbsp;&nbsp;&nbsp; 5106937 | &nbsp;&nbsp;&nbsp;&nbsp; (73238)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(163330)<br>|
|  |  | Net Unrealized Appreciation (Depreciation) | Net Unrealized Appreciation (Depreciation) | Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp; $359989 |

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $822653825 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $822653825 |
| Asset Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 178318052 | &nbsp;&nbsp; — | &nbsp;&nbsp; 178318052 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 108762168 | &nbsp;&nbsp; — | &nbsp;&nbsp; 108762168 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 1462535330 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1462535330 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 33515476 | &nbsp;&nbsp; — | &nbsp;&nbsp; 33515476 |
| Preferred Stocks | &nbsp;&nbsp; 39369 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 39369 |
| Escrows and Litigation Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Short-Term Investments | &nbsp;&nbsp; 20295988 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 20295988 |
| **Total Investments at Value** | &nbsp;&nbsp; $20335357 | &nbsp;&nbsp; $2605784851 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $2626120208 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $523319 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $523319 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $163330 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $163330 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Dividend Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** |
| **Advertising — 0.3%** | **Advertising — 0.3%** | **Advertising — 0.3%** |
| &nbsp;&nbsp;&nbsp; WPP PLC | 662712 | &nbsp;&nbsp; $2456037 |
| **Aerospace/Defense — 3.1%** | **Aerospace/Defense — 3.1%** | **Aerospace/Defense — 3.1%** |
| &nbsp;&nbsp;&nbsp; Airbus SE | 8363 | &nbsp;&nbsp; 1820608 |
| &nbsp;&nbsp;&nbsp; Boeing Co.† | 11669 | &nbsp;&nbsp; 2655048 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 20674 | &nbsp;&nbsp; 7536500 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 9897 | &nbsp;&nbsp; 6513018 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 19484 | &nbsp;&nbsp; 3947848 |
|  |  | &nbsp;&nbsp; 22473022 |
| **Agriculture — 1.0%** | **Agriculture — 1.0%** | **Agriculture — 1.0%** |
| &nbsp;&nbsp;&nbsp; British American Tobacco PLC ADR | 119456 | &nbsp;&nbsp; 7483918 |
| **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** |
| &nbsp;&nbsp;&nbsp; General Motors Co. | 29997 | &nbsp;&nbsp; 2361064 |
| **Banks — 7.5%** | **Banks — 7.5%** | **Banks — 7.5%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 76698 | &nbsp;&nbsp; 3821861 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 103737 | &nbsp;&nbsp; 11430780 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | 38762 | &nbsp;&nbsp; 2333085 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc., Class A | 5470 | &nbsp;&nbsp; 10382881 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 35050 | &nbsp;&nbsp; 10525515 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 16440 | &nbsp;&nbsp; 3491034 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | 155729 | &nbsp;&nbsp; 12684127 |
|  |  | &nbsp;&nbsp; 54669283 |
| **Beverages — 1.7%** | **Beverages — 1.7%** | **Beverages — 1.7%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. | 59683 | &nbsp;&nbsp; 4867746 |
| &nbsp;&nbsp;&nbsp; Diageo PLC | 68255 | &nbsp;&nbsp; 1529232 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 119643 | &nbsp;&nbsp; 3622790 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 14292 | &nbsp;&nbsp; 2425924 |
|  |  | &nbsp;&nbsp; 12445692 |
| **Building Materials — 1.1%** | **Building Materials — 1.1%** | **Building Materials — 1.1%** |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | 67265 | &nbsp;&nbsp; 3655180 |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | 14215 | &nbsp;&nbsp; 4406650 |
|  |  | &nbsp;&nbsp; 8061830 |
| **Chemicals — 3.6%** | **Chemicals — 3.6%** | **Chemicals — 3.6%** |
| &nbsp;&nbsp;&nbsp; Air Products & Chemicals, Inc. | 43247 | &nbsp;&nbsp; 11921900 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | 43574 | &nbsp;&nbsp; 3583090 |
| &nbsp;&nbsp;&nbsp; Linde PLC | 9811 | &nbsp;&nbsp; 4984773 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 46737 | &nbsp;&nbsp; 5761270 |
|  |  | &nbsp;&nbsp; 26251033 |
| **Commercial Services — 1.6%** | **Commercial Services — 1.6%** | **Commercial Services — 1.6%** |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 22900 | &nbsp;&nbsp; 4908844 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | 1071157 | &nbsp;&nbsp; 6585455 |
|  |  | &nbsp;&nbsp; 11494299 |
| **Computers — 2.3%** | **Computers — 2.3%** | **Computers — 2.3%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 15650 | &nbsp;&nbsp; 4134417 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 226120 | &nbsp;&nbsp; 4854797 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 1699 | &nbsp;&nbsp; 297495 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 26219 | &nbsp;&nbsp; 7333454 |
|  |  | &nbsp;&nbsp; 16620163 |
| **Cosmetics/Personal Care — 2.0%** | **Cosmetics/Personal Care — 2.0%** | **Cosmetics/Personal Care — 2.0%** |
| &nbsp;&nbsp;&nbsp; Haleon PLC | 947087 | &nbsp;&nbsp; 5178122 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 18597 | &nbsp;&nbsp; 3109418 |
| &nbsp;&nbsp;&nbsp; Unilever PLC | 82576 | &nbsp;&nbsp; 6083875 |
|  |  | &nbsp;&nbsp; 14371415 |
| **Distribution/Wholesale — 1.3%** | **Distribution/Wholesale — 1.3%** | **Distribution/Wholesale — 1.3%** |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | 33359 | &nbsp;&nbsp; 9657431 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 48345 | &nbsp;&nbsp; $5056887 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 30075 | &nbsp;&nbsp; 5883873 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 58867 | &nbsp;&nbsp; 5604139 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 68203 | &nbsp;&nbsp; 11194158 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 13017 | &nbsp;&nbsp; 4167262 |
|  |  | &nbsp;&nbsp; 31906319 |
| **Electric — 4.2%** | **Electric — 4.2%** | **Electric — 4.2%** |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | 102337 | &nbsp;&nbsp; 6461558 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. | 57970 | &nbsp;&nbsp; 8593473 |
| &nbsp;&nbsp;&nbsp; Edison International | 19382 | &nbsp;&nbsp; 1448611 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. | 48147 | &nbsp;&nbsp; 4027978 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | 50167 | &nbsp;&nbsp; 2481761 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 143900 | &nbsp;&nbsp; 2734100 |
| &nbsp;&nbsp;&nbsp; Sempra | 50950 | &nbsp;&nbsp; 4904957 |
|  |  | &nbsp;&nbsp; 30652438 |
| **Electronics — 1.8%** | **Electronics — 1.8%** | **Electronics — 1.8%** |
| &nbsp;&nbsp;&nbsp; Fortive Corp. | 45462 | &nbsp;&nbsp; 2691350 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 29350 | &nbsp;&nbsp; 7149367 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 16115 | &nbsp;&nbsp; 3708867 |
|  |  | &nbsp;&nbsp; 13549584 |
| **Environmental Control — 0.5%** | **Environmental Control — 0.5%** | **Environmental Control — 0.5%** |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. | 15637 | &nbsp;&nbsp; 3766015 |
| **Food — 1.7%** | **Food — 1.7%** | **Food — 1.7%** |
| &nbsp;&nbsp;&nbsp; Campbell's Co. | 30318 | &nbsp;&nbsp; 817070 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 126369 | &nbsp;&nbsp; 3109941 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 22235 | &nbsp;&nbsp; 1071505 |
| &nbsp;&nbsp;&nbsp; Nestle SA ADR | 70566 | &nbsp;&nbsp; 7694517 |
|  |  | &nbsp;&nbsp; 12693033 |
| **Healthcare-Products — 2.8%** | **Healthcare-Products — 2.8%** | **Healthcare-Products — 2.8%** |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc.# | 484546 | &nbsp;&nbsp; 9870202 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 91544 | &nbsp;&nbsp; 8940187 |
| &nbsp;&nbsp;&nbsp; Waters Corp.† | 5419 | &nbsp;&nbsp; 1730720 |
|  |  | &nbsp;&nbsp; 20541109 |
| **Healthcare-Services — 0.9%** | **Healthcare-Services — 0.9%** | **Healthcare-Services — 0.9%** |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 15879 | &nbsp;&nbsp; 5081280 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 5467 | &nbsp;&nbsp; 1603307 |
|  |  | &nbsp;&nbsp; 6684587 |
| **Household Products/Wares — 0.7%** | **Household Products/Wares — 0.7%** | **Household Products/Wares — 0.7%** |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA (Preference Shares) | 53146 | &nbsp;&nbsp; 5223481 |
| **Insurance — 4.0%** | **Insurance — 4.0%** | **Insurance — 4.0%** |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. | 6576 | &nbsp;&nbsp; 529302 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 18281 | &nbsp;&nbsp; 4171724 |
| &nbsp;&nbsp;&nbsp; Chubb, Ltd. | 12650 | &nbsp;&nbsp; 4311879 |
| &nbsp;&nbsp;&nbsp; Fidelity National Financial, Inc. | 74922 | &nbsp;&nbsp; 3961875 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 6627 | &nbsp;&nbsp; 933281 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 27600 | &nbsp;&nbsp; 5154024 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. | 68193 | &nbsp;&nbsp; 4914670 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. | 7612 | &nbsp;&nbsp; 748869 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. | 14516 | &nbsp;&nbsp; 4480218 |
|  |  | &nbsp;&nbsp; 29205842 |
| **Internet — 5.9%** | **Internet — 5.9%** | **Internet — 5.9%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 24778 | &nbsp;&nbsp; 7724789 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 28244 | &nbsp;&nbsp; 8796029 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 51173 | &nbsp;&nbsp; 10746330 |

---

------

**VALIC Company I Dividend Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp; CDW Corp. | 43226 | &nbsp;&nbsp; $5301237 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 16100 | &nbsp;&nbsp; 10435698 |
|  |  | &nbsp;&nbsp; 43004083 |
| **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** |
| &nbsp;&nbsp;&nbsp; CNH Industrial NV | 162778 | &nbsp;&nbsp; 2002169 |
| **Media — 2.6%** | **Media — 2.6%** | **Media — 2.6%** |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | 350520 | &nbsp;&nbsp; 10852099 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 76380 | &nbsp;&nbsp; 8099335 |
|  |  | &nbsp;&nbsp; 18951434 |
| **Mining — 1.1%** | **Mining — 1.1%** | **Mining — 1.1%** |
| &nbsp;&nbsp;&nbsp; Barrick Mining Corp. | 44775 | &nbsp;&nbsp; 2271883 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 63073 | &nbsp;&nbsp; 4294010 |
| &nbsp;&nbsp;&nbsp; Teck Resources, Ltd., Class B | 24140 | &nbsp;&nbsp; 1421605 |
|  |  | &nbsp;&nbsp; 7987498 |
| **Oil & Gas — 4.0%** | **Oil & Gas — 4.0%** | **Oil & Gas — 4.0%** |
| &nbsp;&nbsp;&nbsp; BP PLC | 1549646 | &nbsp;&nbsp; 9975155 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 20960 | &nbsp;&nbsp; 3914490 |
| &nbsp;&nbsp;&nbsp; EQT Corp. | 76628 | &nbsp;&nbsp; 4706492 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 63912 | &nbsp;&nbsp; 9746580 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 7055 | &nbsp;&nbsp; 1398371 |
|  |  | &nbsp;&nbsp; 29741088 |
| **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** | **Packaging & Containers — 0.7%** |
| &nbsp;&nbsp;&nbsp; Crown Holdings, Inc. | 45429 | &nbsp;&nbsp; 5206163 |
| **Pharmaceuticals — 8.9%** | **Pharmaceuticals — 8.9%** | **Pharmaceuticals — 8.9%** |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC | 27175 | &nbsp;&nbsp; 5691855 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 82829 | &nbsp;&nbsp; 14617662 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 39200 | &nbsp;&nbsp; 8985816 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 172842 | &nbsp;&nbsp; 13810076 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 26487 | &nbsp;&nbsp; 6580165 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 67333 | &nbsp;&nbsp; 8337172 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG ADR | 82400 | &nbsp;&nbsp; 4906920 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | 21680 | &nbsp;&nbsp; 2105725 |
|  |  | &nbsp;&nbsp; 65035391 |
| **Pipelines — 2.2%** | **Pipelines — 2.2%** | **Pipelines — 2.2%** |
| &nbsp;&nbsp;&nbsp; Enterprise Products Partners LP | 126962 | &nbsp;&nbsp; 4588407 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 155769 | &nbsp;&nbsp; 11639059 |
|  |  | &nbsp;&nbsp; 16227466 |
| **Private Equity — 0.7%** | **Private Equity — 0.7%** | **Private Equity — 0.7%** |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | 23000 | &nbsp;&nbsp; 2607510 |
| &nbsp;&nbsp;&nbsp; Carlyle Group, Inc. | 44962 | &nbsp;&nbsp; 2337574 |
|  |  | &nbsp;&nbsp; 4945084 |
| **REITS — 3.8%** | **REITS — 3.8%** | **REITS — 3.8%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | 28578 | &nbsp;&nbsp; 5482975 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 27166 | &nbsp;&nbsp; 4814630 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 39537 | &nbsp;&nbsp; 3540143 |
| &nbsp;&nbsp;&nbsp; Healthcare Realty Trust, Inc. | 130099 | &nbsp;&nbsp; 2400327 |
| &nbsp;&nbsp;&nbsp; Public Storage | 18406 | &nbsp;&nbsp; 5651746 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc.# | 98802 | &nbsp;&nbsp; 3702111 |
| &nbsp;&nbsp;&nbsp; STAG Industrial, Inc. | 51987 | &nbsp;&nbsp; 2038930 |
|  |  | &nbsp;&nbsp; 27630862 |
| **Retail — 3.4%** | **Retail — 3.4%** | **Retail — 3.4%** |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | 69315 | &nbsp;&nbsp; 10829776 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 25061 | &nbsp;&nbsp; $9541224 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA ADR | 266638 | &nbsp;&nbsp; 4458187 |
|  |  | &nbsp;&nbsp; 24829187 |
| **Semiconductors — 6.4%** | **Semiconductors — 6.4%** | **Semiconductors — 6.4%** |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 22515 | &nbsp;&nbsp; 7194668 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 28908 | &nbsp;&nbsp; 1318494 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co., Ltd. GDR | 4233 | &nbsp;&nbsp; 15416586 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 18814 | &nbsp;&nbsp; 7047348 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 74166 | &nbsp;&nbsp; 15731351 |
|  |  | &nbsp;&nbsp; 46708447 |
| **Software — 5.4%** | **Software — 5.4%** | **Software — 5.4%** |
| &nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 17277 | &nbsp;&nbsp; 3465248 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | 147061 | &nbsp;&nbsp; 7494229 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 47535 | &nbsp;&nbsp; 18668896 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc. | 134650 | &nbsp;&nbsp; 10137798 |
|  |  | &nbsp;&nbsp; 39766171 |
| **Telecommunications — 1.7%** | **Telecommunications — 1.7%** | **Telecommunications — 1.7%** |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 30901 | &nbsp;&nbsp; 2455393 |
| &nbsp;&nbsp;&nbsp; Rogers Communications, Inc. | 30683 | &nbsp;&nbsp; 1225172 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 24439 | &nbsp;&nbsp; 5305463 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 64126 | &nbsp;&nbsp; 3215278 |
|  |  | &nbsp;&nbsp; 12201306 |
| **Toys/Games/Hobbies — 0.8%** | **Toys/Games/Hobbies — 0.8%** | **Toys/Games/Hobbies — 0.8%** |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 59755 | &nbsp;&nbsp; 5951000 |
| **Transportation — 2.9%** | **Transportation — 2.9%** | **Transportation — 2.9%** |
| &nbsp;&nbsp;&nbsp; CSX Corp. | 43954 | &nbsp;&nbsp; 1876396 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | 22220 | &nbsp;&nbsp; 8599140 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 16100 | &nbsp;&nbsp; 3269105 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 28353 | &nbsp;&nbsp; 7512978 |
|  |  | &nbsp;&nbsp; 21257619 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $615,904,524)<br>|  | &nbsp;&nbsp; 714012563 |
| **SHORT-TERM INVESTMENTS — 2.2%** | **SHORT-TERM INVESTMENTS — 2.2%** | **SHORT-TERM INVESTMENTS — 2.2%** |
| **Unaffiliated Investment Companies — 2.2%** | **Unaffiliated Investment Companies — 2.2%** | **Unaffiliated Investment Companies — 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(1)<br>| 16289923 | &nbsp;&nbsp; 16289923 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $632,194,447)<br>| 99.7<br> %<br>| &nbsp;&nbsp; 730302486 |
| Other assets less liabilities | 0.3 | &nbsp;&nbsp; 2251195 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $732553681 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | &nbsp;&nbsp; The security or a portion thereof is out on loan. <br>At February 28, 2026, the Fund had loaned securities with a total value of $9,974,481. <br> This was secured by collateral of $10,259,768 received in the form of fixed income <br> pooled securities, which the Fund cannot sell or repledge and accordingly, are not <br> reflected in the Fund's assets and liabilities. The components of the fixed income pooled <br> securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $7255 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 36525 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 07/23/2026 | 216840 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/30/2026 to 08/15/2055 | 9999148 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

------

**VALIC Company I Dividend Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

ADR—American Depositary Receipt <br> GDR—Global Depositary Receipt

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $714012563 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $714012563 |
| Short-Term Investments | &nbsp;&nbsp; 16289923 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 16289923 |
| **Total Investments at Value** | &nbsp;&nbsp; $730302486 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $730302486 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Dynamic Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 79.6%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 79.6%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 79.6%** |
| **Domestic Equity Investment Companies — 58.4%** | **Domestic Equity Investment Companies — 58.4%** | **Domestic Equity Investment Companies — 58.4%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Capital Appreciation Fund | 123686 | &nbsp;&nbsp; $2773030 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Dividend Value Fund | 398710 | &nbsp;&nbsp; 5841099 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Growth Fund | 199543 | &nbsp;&nbsp; 3699519 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Large Cap Core Fund | 254405 | &nbsp;&nbsp; 4630181 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Nasdaq-100 Index Fund | 217306 | &nbsp;&nbsp; 5871614 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Stock Index Fund | 501016 | &nbsp;&nbsp; 34289529 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Growth Fund | 316786 | &nbsp;&nbsp; 6471931 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Value Fund | 542810 | &nbsp;&nbsp; 9510038 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Equity Investment Companies** <br>(cost $64,549,503)<br>|  | &nbsp;&nbsp; 73086941 |
| **Domestic Fixed Income Investment Companies — 19.8%** | **Domestic Fixed Income Investment Companies — 19.8%** | **Domestic Fixed Income Investment Companies — 19.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VALIC Company I Core Bond Fund <br>(cost $23,511,604)<br>| 2391563 | &nbsp;&nbsp; 24800503 |
| **International Equity Investment Companies — 1.4%** | **International Equity Investment Companies — 1.4%** | **International Equity Investment Companies — 1.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VALIC Company I International Value Fund <br>(cost $1,213,677)<br>| 115439 | &nbsp;&nbsp; 1746600 |
| **International Fixed Income Investment Companies0.0%** | **International Fixed Income Investment Companies0.0%** | **International Fixed Income Investment Companies0.0%** |
| &nbsp;&nbsp;&nbsp; **Total Affiliated Investment Companies** <br>(cost $89,274,784)<br>|  | &nbsp;&nbsp; 99634044 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 16.7%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 16.7%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 16.7%** |
| **U.S. Government — 16.7%** | **U.S. Government — 16.7%** | **U.S. Government — 16.7%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 08/15/2033 to 08/15/2034 | $3616600 | &nbsp;&nbsp; 3631087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 02/15/2034 | 2669100 | &nbsp;&nbsp; 2704236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 11/15/2035(2) | 4007100 | &nbsp;&nbsp; 4021501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 11/15/2034 to 05/15/2035 | 3819900 | &nbsp;&nbsp; 3920427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 08/15/2035(2) | 585100 | &nbsp;&nbsp; 599636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.38%, 05/15/2034 | 2343400 | &nbsp;&nbsp; 2433017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 11/15/2033 | 2899100 | &nbsp;&nbsp; 3036920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 02/15/2035 | 517400 | &nbsp;&nbsp; 545817 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Obligations** <br>(cost $20,444,723)<br>|  | &nbsp;&nbsp; 20892641 |
| **PURCHASED OPTIONS† — 0.9%** | **PURCHASED OPTIONS† — 0.9%** | **PURCHASED OPTIONS† — 0.9%** |
| **Purchased Options - Puts — 0.9%** | **Purchased Options - Puts — 0.9%** | **Purchased Options - Puts — 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over the Counter put option on the S&P 500 Index <br> (Expiration Date: 06/18/2026; Strike Price: $5,900.00; <br> Counterparty: UBS AG)<br>| 1000 | &nbsp;&nbsp; 62417 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Purchased Options - Puts (continued)** | **Purchased Options - Puts (continued)** | **Purchased Options - Puts (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over the Counter put option on the S&P 500 Index <br> (Expiration Date: 07/17/2026; Strike Price: $5,950.00; <br> Counterparty: Goldman Sachs International)<br>| 4500 | &nbsp;&nbsp; $381287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over the Counter put option on the S&P 500 Index <br> (Expiration Date: 08/21/2026; Strike Price: $6,150.00; <br> Counterparty: Citibank, N.A.)<br>| 3500 | &nbsp;&nbsp; 462599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Over the Counter put option on the S&P 500 Index <br> (Expiration Date: 09/18/2026; Strike Price: $5,600.00; <br> Counterparty: Goldman Sachs International)<br>| 2000 | &nbsp;&nbsp; 175474 |
| &nbsp;&nbsp;&nbsp; **Total Purchased Options** <br>(cost $1,286,107)<br>|  | &nbsp;&nbsp; 1081777 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $111,005,614)<br>|  | &nbsp;&nbsp; 121608462 |
| **SHORT-TERM INVESTMENTS — 3.8%** | **SHORT-TERM INVESTMENTS — 3.8%** | **SHORT-TERM INVESTMENTS — 3.8%** |
| **Unaffiliated Investment Companies — 3.8%** | **Unaffiliated Investment Companies — 3.8%** | **Unaffiliated Investment Companies — 3.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AllianceBernstein Government STIF Portfolio, Class AB <br>3.74%(3) <br>(cost $4,736,288)<br>| 4736288 | &nbsp;&nbsp; 4736288 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $115,741,902)<br>| 101.0<br> %<br>| &nbsp;&nbsp; 126344750 |
| Other assets less liabilities | (1.0)<br>| &nbsp;&nbsp; (1237901)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $125106849 |

---

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

---

| | |
|:---|:---|
| # | &nbsp;&nbsp; The VALIC Company I Dynamic Allocation Fund invests in various VALIC Company I <br> Funds. Additional information on the underlying funds including such funds' <br> prospectuses and shareholder reports are available at our website, <br> www.corebridgefinancial.com/rs.<br>|
| † | Non-income producing security |
| (1) | See Note 3. |
| (2) | &nbsp;&nbsp; The security or a portion thereof was pledged as collateral to cover margin requirements <br> for open futures contracts.<br>|
| (3) | The rate shown is the 7-day yield as of February 28, 2026. |

---

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

STIF—Short Term Investment Fund<br>

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 30 | Long | S&P 500 E-Mini Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $10384070 | &nbsp;&nbsp;&nbsp;&nbsp; $10333500 | &nbsp;&nbsp;&nbsp;&nbsp; $(50570)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

------

**VALIC Company I Dynamic Allocation Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp; $99634044 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $99634044 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 20892641 | &nbsp;&nbsp; — | &nbsp;&nbsp; 20892641 |
| Purchased Options | &nbsp;&nbsp; — | &nbsp;&nbsp; 1081777 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1081777 |
| Short-Term Investments | &nbsp;&nbsp; 4736288 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4736288 |
| **Total Investments at Value** | &nbsp;&nbsp; $104370332 | &nbsp;&nbsp; $21974418 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $126344750 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $50570 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $50570 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 98.7%** | **COMMON STOCKS — 98.7%** | **COMMON STOCKS — 98.7%** |
| **Bermuda — 0.2%** | **Bermuda — 0.2%** | **Bermuda — 0.2%** |
| &nbsp;&nbsp;&nbsp; Kunlun Energy Co., Ltd. | 1562000 | &nbsp;&nbsp; $1675126 |
| **Brazil — 3.9%** | **Brazil — 3.9%** | **Brazil — 3.9%** |
| &nbsp;&nbsp;&nbsp; Anima Holding SA | 146100 | &nbsp;&nbsp; 146200 |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | 398237 | &nbsp;&nbsp; 1390509 |
| &nbsp;&nbsp;&nbsp; Banco Bradesco SA (Preference Shares) | 539896 | &nbsp;&nbsp; 2227407 |
| &nbsp;&nbsp;&nbsp; Banco Bradesco SA ADR | 113200 | &nbsp;&nbsp; 462988 |
| &nbsp;&nbsp;&nbsp; Banco BTG Pactual SA | 56169 | &nbsp;&nbsp; 671201 |
| &nbsp;&nbsp;&nbsp; Cogna Educacao SA | 847304 | &nbsp;&nbsp; 578477 |
| &nbsp;&nbsp;&nbsp; Grupo SBF SA | 164647 | &nbsp;&nbsp; 406599 |
| &nbsp;&nbsp;&nbsp; Hypera SA | 25323 | &nbsp;&nbsp; 114007 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA (Preference Shares) | 733277 | &nbsp;&nbsp; 6691251 |
| &nbsp;&nbsp;&nbsp; Itau Unibanco Holding SA ADR | 297696 | &nbsp;&nbsp; 2694149 |
| &nbsp;&nbsp;&nbsp; Lojas Renner SA | 542601 | &nbsp;&nbsp; 1649024 |
| &nbsp;&nbsp;&nbsp; NU Holdings, Ltd., Class A† | 335707 | &nbsp;&nbsp; 5028891 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA (Preference Shares) | 504394 | &nbsp;&nbsp; 3869661 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA ADR | 69164 | &nbsp;&nbsp; 1065126 |
| &nbsp;&nbsp;&nbsp; Raia Drogasil SA | 243841 | &nbsp;&nbsp; 1192925 |
| &nbsp;&nbsp;&nbsp; Telefonica Brasil SA | 197226 | &nbsp;&nbsp; 1661215 |
| &nbsp;&nbsp;&nbsp; Telefonica Brasil SA ADR | 65715 | &nbsp;&nbsp; 1111241 |
| &nbsp;&nbsp;&nbsp; Ultrapar Participacoes SA | 15653 | &nbsp;&nbsp; 78776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Usinas Siderurgicas de Minas Gerais S/A Usiminas, <br> Class A (Preference Shares)†<br>| 37040 | &nbsp;&nbsp; 51082 |
| &nbsp;&nbsp;&nbsp; Vale SA | 212969 | &nbsp;&nbsp; 3675289 |
| &nbsp;&nbsp;&nbsp; XP, Inc., Class A | 78301 | &nbsp;&nbsp; 1685820 |
| &nbsp;&nbsp;&nbsp; YDUQS Participacoes SA | 235213 | &nbsp;&nbsp; 608851 |
|  |  | &nbsp;&nbsp; 37060689 |
| **Chile — 0.4%** | **Chile — 0.4%** | **Chile — 0.4%** |
| &nbsp;&nbsp;&nbsp; Banco de Chile | 11541490 | &nbsp;&nbsp; 2380452 |
| &nbsp;&nbsp;&nbsp; Banco de Chile ADR | 39370 | &nbsp;&nbsp; 1617320 |
|  |  | &nbsp;&nbsp; 3997772 |
| **China — 19.1%** | **China — 19.1%** | **China — 19.1%** |
| &nbsp;&nbsp;&nbsp; 3SBio, Inc.\* | 217000 | &nbsp;&nbsp; 608556 |
| &nbsp;&nbsp;&nbsp; Agricultural Bank of China, Ltd. | 2899000 | &nbsp;&nbsp; 1967647 |
| &nbsp;&nbsp;&nbsp; ANTA Sports Products, Ltd. | 56400 | &nbsp;&nbsp; 613138 |
| &nbsp;&nbsp;&nbsp; Baidu, Inc., Class A† | 19950 | &nbsp;&nbsp; 315440 |
| &nbsp;&nbsp;&nbsp; Bank of China, Ltd. | 7638000 | &nbsp;&nbsp; 4530041 |
| &nbsp;&nbsp;&nbsp; Baoshan Iron & Steel Co., Ltd., Class A | 3215300 | &nbsp;&nbsp; 3376776 |
| &nbsp;&nbsp;&nbsp; BOE Technology Group Co., Ltd., Class A | 4008700 | &nbsp;&nbsp; 2619569 |
| &nbsp;&nbsp;&nbsp; BYD Co., Ltd. | 191600 | &nbsp;&nbsp; 2325385 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp. | 7819000 | &nbsp;&nbsp; 7985506 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp., Class A | 108700 | &nbsp;&nbsp; 136198 |
| &nbsp;&nbsp;&nbsp; China East Education Holdings, Ltd.\* | 625000 | &nbsp;&nbsp; 519276 |
| &nbsp;&nbsp;&nbsp; China Eastern Airlines Corp., Ltd., Class A† | 159800 | &nbsp;&nbsp; 133561 |
| &nbsp;&nbsp;&nbsp; China Hongqiao Group, Ltd. | 481000 | &nbsp;&nbsp; 2180160 |
| &nbsp;&nbsp;&nbsp; China Life Insurance Co., Ltd. | 761000 | &nbsp;&nbsp; 3071859 |
| &nbsp;&nbsp;&nbsp; China Life Insurance Co., Ltd., Class A | 121750 | &nbsp;&nbsp; 789918 |
| &nbsp;&nbsp;&nbsp; China Mengniu Dairy Co., Ltd. | 511000 | &nbsp;&nbsp; 1056827 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co., Ltd. | 140000 | &nbsp;&nbsp; 873993 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co., Ltd., Class A | 560300 | &nbsp;&nbsp; 3166945 |
| &nbsp;&nbsp;&nbsp; China Minsheng Banking Corp., Ltd. | 164000 | &nbsp;&nbsp; 84899 |
| &nbsp;&nbsp;&nbsp; China Oilfield Services, Ltd. | 142000 | &nbsp;&nbsp; 183140 |
| &nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co., Ltd. | 120000 | &nbsp;&nbsp; 551269 |
| &nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co., Ltd., Class A | 90600 | &nbsp;&nbsp; 539316 |
| &nbsp;&nbsp;&nbsp; Chinasoft International, Ltd. | 142000 | &nbsp;&nbsp; 77503 |
| &nbsp;&nbsp;&nbsp; Citic Pacific Special Steel Group Co., Ltd., Class A | 531800 | &nbsp;&nbsp; 1398596 |
| &nbsp;&nbsp;&nbsp; CITIC Securities Co., Ltd., Class A | 261500 | &nbsp;&nbsp; 1043986 |
| &nbsp;&nbsp;&nbsp; CMOC Group, Ltd. | 384000 | &nbsp;&nbsp; 1185858 |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co., Ltd.# | 19900 | &nbsp;&nbsp; 1261651 |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co., Ltd., Class A | 77720 | &nbsp;&nbsp; 3877214 |
| &nbsp;&nbsp;&nbsp; COSCO SHIPPING Holdings Co., Ltd.# | 345500 | &nbsp;&nbsp; 670385 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp; Country Garden Services Holdings Co., Ltd. | 822000 | &nbsp;&nbsp; $664039 |
| &nbsp;&nbsp;&nbsp; CRRC Corp, Ltd. | 387000 | &nbsp;&nbsp; 286909 |
| &nbsp;&nbsp;&nbsp; ENN Energy Holdings, Ltd. | 282200 | &nbsp;&nbsp; 2481704 |
| &nbsp;&nbsp;&nbsp; Flat Glass Group Co., Ltd.#† | 81000 | &nbsp;&nbsp; 112336 |
| &nbsp;&nbsp;&nbsp; Flat Glass Group Co., Ltd., Class A† | 61600 | &nbsp;&nbsp; 153468 |
| &nbsp;&nbsp;&nbsp; Foxconn Industrial Internet Co., Ltd., Class A | 5600 | &nbsp;&nbsp; 45498 |
| &nbsp;&nbsp;&nbsp; Fufeng Group, Ltd. | 159000 | &nbsp;&nbsp; 165434 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co., Ltd.\* | 37600 | &nbsp;&nbsp; 312396 |
| &nbsp;&nbsp;&nbsp; Fuyao Glass Industry Group Co., Ltd., Class A | 161800 | &nbsp;&nbsp; 1425488 |
| &nbsp;&nbsp;&nbsp; Great Wall Motor Co., Ltd. | 531500 | &nbsp;&nbsp; 873673 |
| &nbsp;&nbsp;&nbsp; Guangdong Haid Group Co., Ltd., Class A | 41600 | &nbsp;&nbsp; 332584 |
| &nbsp;&nbsp;&nbsp; H World Group, Ltd. ADR# | 13908 | &nbsp;&nbsp; 762158 |
| &nbsp;&nbsp;&nbsp; Haier Smart Home Co., Ltd. | 222200 | &nbsp;&nbsp; 757765 |
| &nbsp;&nbsp;&nbsp; Haier Smart Home Co., Ltd., Class A | 473600 | &nbsp;&nbsp; 1775387 |
| &nbsp;&nbsp;&nbsp; Hangzhou Tigermed Consulting Co., Ltd., Class A | 6900 | &nbsp;&nbsp; 60025 |
| &nbsp;&nbsp;&nbsp; Huadian Power International Corp., Ltd. | 1024000 | &nbsp;&nbsp; 585076 |
| &nbsp;&nbsp;&nbsp; Huayu Automotive Systems Co., Ltd., Class A | 210200 | &nbsp;&nbsp; 592670 |
| &nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China, Ltd. | 5766000 | &nbsp;&nbsp; 4753777 |
| &nbsp;&nbsp;&nbsp; InnoCare Pharma, Ltd.\*† | 394000 | &nbsp;&nbsp; 608873 |
| &nbsp;&nbsp;&nbsp; Innovent Biologics, Inc.\*† | 210500 | &nbsp;&nbsp; 2289740 |
| &nbsp;&nbsp;&nbsp; JD Logistics, Inc.\*† | 30400 | &nbsp;&nbsp; 43404 |
| &nbsp;&nbsp;&nbsp; JD.com, Inc., Class A | 221650 | &nbsp;&nbsp; 2957827 |
| &nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co., Ltd.† | 47600 | &nbsp;&nbsp; 404607 |
| &nbsp;&nbsp;&nbsp; Jiangsu Hengrui Pharmaceuticals Co., Ltd., Class A | 433800 | &nbsp;&nbsp; 3578880 |
| &nbsp;&nbsp;&nbsp; Keymed Biosciences, Inc.\*† | 70500 | &nbsp;&nbsp; 467243 |
| &nbsp;&nbsp;&nbsp; Kuaishou Technology\* | 62500 | &nbsp;&nbsp; 502099 |
| &nbsp;&nbsp;&nbsp; Li Ning Co., Ltd. | 38000 | &nbsp;&nbsp; 109385 |
| &nbsp;&nbsp;&nbsp; Meituan, Class B\*† | 277800 | &nbsp;&nbsp; 2881544 |
| &nbsp;&nbsp;&nbsp; Midea Group Co., Ltd., Class A | 275600 | &nbsp;&nbsp; 3161338 |
| &nbsp;&nbsp;&nbsp; NetEase, Inc. | 140800 | &nbsp;&nbsp; 3225114 |
| &nbsp;&nbsp;&nbsp; New Oriental Education & Technology Group, Inc. | 286500 | &nbsp;&nbsp; 1601798 |
| &nbsp;&nbsp;&nbsp; New Oriental Education & Technology Group, Inc. ADR | 19578 | &nbsp;&nbsp; 1069938 |
| &nbsp;&nbsp;&nbsp; NIO, Inc., Class A† | 61920 | &nbsp;&nbsp; 313423 |
| &nbsp;&nbsp;&nbsp; Nongfu Spring Co., Ltd.\* | 171400 | &nbsp;&nbsp; 1038469 |
| &nbsp;&nbsp;&nbsp; People's Insurance Co. Group of China, Ltd. | 185000 | &nbsp;&nbsp; 151577 |
| &nbsp;&nbsp;&nbsp; PetroChina Co., Ltd. | 2990000 | &nbsp;&nbsp; 3646062 |
| &nbsp;&nbsp;&nbsp; PICC Property & Casualty Co., Ltd. | 844000 | &nbsp;&nbsp; 1746601 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China, Ltd.# | 776000 | &nbsp;&nbsp; 6744894 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China, Ltd., Class A | 352700 | &nbsp;&nbsp; 3245743 |
| &nbsp;&nbsp;&nbsp; Pop Mart International Group, Ltd.\*# | 11400 | &nbsp;&nbsp; 334857 |
| &nbsp;&nbsp;&nbsp; Q Technology Group Co., Ltd. | 576000 | &nbsp;&nbsp; 653792 |
| &nbsp;&nbsp;&nbsp; Qfin Holdings, Inc. ADR | 4533 | &nbsp;&nbsp; 66000 |
| &nbsp;&nbsp;&nbsp; Qinghai Salt Lake Industry Co., Ltd., Class A† | 30200 | &nbsp;&nbsp; 168275 |
| &nbsp;&nbsp;&nbsp; Remegen Co., Ltd.\*#† | 21500 | &nbsp;&nbsp; 221365 |
| &nbsp;&nbsp;&nbsp; Sany Heavy Industry Co., Ltd., Class A | 392800 | &nbsp;&nbsp; 1326388 |
| &nbsp;&nbsp;&nbsp; Shandong Weigao Group Medical Polymer Co., Ltd. | 1849600 | &nbsp;&nbsp; 1203372 |
| &nbsp;&nbsp;&nbsp; Shanghai Chicmax Cosmetic Co., Ltd.# | 61300 | &nbsp;&nbsp; 472479 |
| &nbsp;&nbsp;&nbsp; Shanghai Fosun Pharmaceutical Group Co., Ltd. | 196000 | &nbsp;&nbsp; 501562 |
| &nbsp;&nbsp;&nbsp; Shanghai Junshi Biosciences Co., Ltd.\*† | 123200 | &nbsp;&nbsp; 322511 |
| &nbsp;&nbsp;&nbsp; Sinopec Engineering Group Co., Ltd. | 301500 | &nbsp;&nbsp; 305223 |
| &nbsp;&nbsp;&nbsp; Sinopharm Group Co., Ltd. | 94800 | &nbsp;&nbsp; 256164 |
| &nbsp;&nbsp;&nbsp; SooChow Securities Co., Ltd., Class A | 346600 | &nbsp;&nbsp; 469670 |
| &nbsp;&nbsp;&nbsp; Sungrow Power Supply Co., Ltd., Class A | 41100 | &nbsp;&nbsp; 866279 |
| &nbsp;&nbsp;&nbsp; Sunny Optical Technology Group Co., Ltd. | 270400 | &nbsp;&nbsp; 2013293 |
| &nbsp;&nbsp;&nbsp; Sunshine Insurance Group Co., Ltd. | 1280000 | &nbsp;&nbsp; 641358 |
| &nbsp;&nbsp;&nbsp; TAL Education Group ADR† | 105580 | &nbsp;&nbsp; 1111757 |
| &nbsp;&nbsp;&nbsp; Tencent Holdings, Ltd. | 579100 | &nbsp;&nbsp; 38343150 |
| &nbsp;&nbsp;&nbsp; Tencent Music Entertainment Group ADR | 102020 | &nbsp;&nbsp; 1489492 |
| &nbsp;&nbsp;&nbsp; Tingyi Cayman Islands Holding Corp. | 752000 | &nbsp;&nbsp; 1258236 |
| &nbsp;&nbsp;&nbsp; TravelSky Technology, Ltd. | 180000 | &nbsp;&nbsp; 246875 |
| &nbsp;&nbsp;&nbsp; Tsingtao Brewery Co., Ltd. | 334000 | &nbsp;&nbsp; 2262699 |
| &nbsp;&nbsp;&nbsp; Uni-President China Holdings, Ltd. | 1993000 | &nbsp;&nbsp; 1966659 |
| &nbsp;&nbsp;&nbsp; Vipshop Holdings, Ltd. ADR | 118832 | &nbsp;&nbsp; 2070053 |

---

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp; Weichai Power Co., Ltd., Class A | 107100 | &nbsp;&nbsp; $435230 |
| &nbsp;&nbsp;&nbsp; WuXi AppTec Co., Ltd., Class A | 34000 | &nbsp;&nbsp; 486069 |
| &nbsp;&nbsp;&nbsp; Xiaomi Corp., Class B\*#† | 909400 | &nbsp;&nbsp; 4056812 |
| &nbsp;&nbsp;&nbsp; Xtep International Holdings, Ltd. | 2223500 | &nbsp;&nbsp; 1514847 |
| &nbsp;&nbsp;&nbsp; Yadea Group Holdings, Ltd.\* | 138000 | &nbsp;&nbsp; 201265 |
| &nbsp;&nbsp;&nbsp; ZCZL Industrial Technology Group Co., Ltd. | 482200 | &nbsp;&nbsp; 1448437 |
| &nbsp;&nbsp;&nbsp; Zhaojin Mining Industry Co., Ltd. | 50500 | &nbsp;&nbsp; 222697 |
| &nbsp;&nbsp;&nbsp; Zhejiang Sanhua Intelligent Controls Co., Ltd.# | 41800 | &nbsp;&nbsp; 180805 |
| &nbsp;&nbsp;&nbsp; Zhongji Innolight Co., Ltd., Class A | 10000 | &nbsp;&nbsp; 778914 |
| &nbsp;&nbsp;&nbsp; Zhuzhou CRRC Times Electric Co., Ltd. | 35400 | &nbsp;&nbsp; 200814 |
| &nbsp;&nbsp;&nbsp; Zijin Mining Group Co., Ltd. | 886000 | &nbsp;&nbsp; 5096250 |
| &nbsp;&nbsp;&nbsp; Zijin Mining Group Co., Ltd., Class A | 99900 | &nbsp;&nbsp; 576315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zoomlion Heavy Industry Science and Technology Co., <br> Ltd., Class A<br>| 1516000 | &nbsp;&nbsp; 2209087 |
|  |  | &nbsp;&nbsp; 179052609 |
| **Czech Republic — 0.0%** | **Czech Republic — 0.0%** | **Czech Republic — 0.0%** |
| &nbsp;&nbsp;&nbsp; Komercni Banka AS | 4720 | &nbsp;&nbsp; 270428 |
| **Greece — 0.2%** | **Greece — 0.2%** | **Greece — 0.2%** |
| &nbsp;&nbsp;&nbsp; OPAP Holding SA | 92309 | &nbsp;&nbsp; 1723343 |
| **Hong Kong — 4.1%** | **Hong Kong — 4.1%** | **Hong Kong — 4.1%** |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding, Ltd. | 1237900 | &nbsp;&nbsp; 22611129 |
| &nbsp;&nbsp;&nbsp; China Medical System Holdings, Ltd.# | 152000 | &nbsp;&nbsp; 283662 |
| &nbsp;&nbsp;&nbsp; China Resources Beer Holdings Co., Ltd. | 741500 | &nbsp;&nbsp; 2615922 |
| &nbsp;&nbsp;&nbsp; China Resources Pharmaceutical Group, Ltd.\* | 582500 | &nbsp;&nbsp; 338775 |
| &nbsp;&nbsp;&nbsp; Chow Tai Fook Jewellery Group, Ltd.# | 801400 | &nbsp;&nbsp; 1343964 |
| &nbsp;&nbsp;&nbsp; CITIC, Ltd. | 379000 | &nbsp;&nbsp; 606524 |
| &nbsp;&nbsp;&nbsp; Fosun International, Ltd. | 2413000 | &nbsp;&nbsp; 1193638 |
| &nbsp;&nbsp;&nbsp; Geely Automobile Holdings, Ltd. | 861000 | &nbsp;&nbsp; 1777379 |
| &nbsp;&nbsp;&nbsp; Guangdong Investment, Ltd. | 592000 | &nbsp;&nbsp; 577365 |
| &nbsp;&nbsp;&nbsp; Lenovo Group, Ltd.# | 2068000 | &nbsp;&nbsp; 2571982 |
| &nbsp;&nbsp;&nbsp; Simcere Pharmaceutical Group, Ltd.\* | 736000 | &nbsp;&nbsp; 1166552 |
| &nbsp;&nbsp;&nbsp; Sino Biopharmaceutical, Ltd. | 2621000 | &nbsp;&nbsp; 2026875 |
| &nbsp;&nbsp;&nbsp; Sinotruk Hong Kong, Ltd. | 170000 | &nbsp;&nbsp; 894394 |
| &nbsp;&nbsp;&nbsp; TCL Electronics Holdings, Ltd. | 313000 | &nbsp;&nbsp; 491300 |
|  |  | &nbsp;&nbsp; 38499461 |
| **Hungary — 0.4%** | **Hungary — 0.4%** | **Hungary — 0.4%** |
| &nbsp;&nbsp;&nbsp; OTP Bank Nyrt | 32958 | &nbsp;&nbsp; 4062512 |
| **India — 12.5%** | **India — 12.5%** | **India — 12.5%** |
| &nbsp;&nbsp;&nbsp; Adani Ports & Special Economic Zone, Ltd. | 51699 | &nbsp;&nbsp; 863712 |
| &nbsp;&nbsp;&nbsp; Apar Industries, Ltd. | 1728 | &nbsp;&nbsp; 211023 |
| &nbsp;&nbsp;&nbsp; APL Apollo Tubes, Ltd. | 31814 | &nbsp;&nbsp; 780521 |
| &nbsp;&nbsp;&nbsp; Apollo Tyres, Ltd. | 213618 | &nbsp;&nbsp; 1065316 |
| &nbsp;&nbsp;&nbsp; Asian Paints, Ltd. | 13820 | &nbsp;&nbsp; 360811 |
| &nbsp;&nbsp;&nbsp; Ather Energy, Ltd.† | 11904 | &nbsp;&nbsp; 92915 |
| &nbsp;&nbsp;&nbsp; Axis Bank, Ltd. | 177812 | &nbsp;&nbsp; 2705012 |
| &nbsp;&nbsp;&nbsp; Bajaj Auto, Ltd. | 3790 | &nbsp;&nbsp; 414738 |
| &nbsp;&nbsp;&nbsp; Bajaj Finance, Ltd. | 106205 | &nbsp;&nbsp; 1163599 |
| &nbsp;&nbsp;&nbsp; Bajaj Holdings & Investment, Ltd. | 493 | &nbsp;&nbsp; 58536 |
| &nbsp;&nbsp;&nbsp; Bharat Electronics, Ltd. | 237898 | &nbsp;&nbsp; 1156068 |
| &nbsp;&nbsp;&nbsp; Bharat Forge, Ltd. | 22615 | &nbsp;&nbsp; 474666 |
| &nbsp;&nbsp;&nbsp; Bharat Petroleum Corp., Ltd. | 369637 | &nbsp;&nbsp; 1563038 |
| &nbsp;&nbsp;&nbsp; Bharti Airtel, Ltd. | 256989 | &nbsp;&nbsp; 5316259 |
| &nbsp;&nbsp;&nbsp; Birlasoft, Ltd. | 111369 | &nbsp;&nbsp; 474972 |
| &nbsp;&nbsp;&nbsp; Britannia Industries, Ltd. | 9408 | &nbsp;&nbsp; 620470 |
| &nbsp;&nbsp;&nbsp; Cartrade Tech, Ltd.† | 4603 | &nbsp;&nbsp; 91578 |
| &nbsp;&nbsp;&nbsp; Chennai Petroleum Corp, Ltd. | 29210 | &nbsp;&nbsp; 308423 |
| &nbsp;&nbsp;&nbsp; City Union Bank, Ltd. | 109956 | &nbsp;&nbsp; 340953 |
| &nbsp;&nbsp;&nbsp; Dalmia Bharat, Ltd. | 21741 | &nbsp;&nbsp; 475129 |
| &nbsp;&nbsp;&nbsp; DLF, Ltd. | 140621 | &nbsp;&nbsp; 930582 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **India (continued)** | **India (continued)** | **India (continued)** |
| &nbsp;&nbsp;&nbsp; Dr Lal PathLabs, Ltd.\* | 59594 | &nbsp;&nbsp; $917070 |
| &nbsp;&nbsp;&nbsp; Eicher Motors, Ltd. | 5735 | &nbsp;&nbsp; 505190 |
| &nbsp;&nbsp;&nbsp; Eternal, Ltd.† | 198695 | &nbsp;&nbsp; 540548 |
| &nbsp;&nbsp;&nbsp; Federal Bank, Ltd. | 74330 | &nbsp;&nbsp; 243882 |
| &nbsp;&nbsp;&nbsp; GE Vernova T&D India, Ltd. | 23853 | &nbsp;&nbsp; 1009429 |
| &nbsp;&nbsp;&nbsp; GMR Airports, Ltd.† | 589291 | &nbsp;&nbsp; 645798 |
| &nbsp;&nbsp;&nbsp; Granules India, Ltd. | 28858 | &nbsp;&nbsp; 184232 |
| &nbsp;&nbsp;&nbsp; HCL Technologies, Ltd. | 89966 | &nbsp;&nbsp; 1366653 |
| &nbsp;&nbsp;&nbsp; HDFC Asset Management Co., Ltd.\* | 40764 | &nbsp;&nbsp; 1205316 |
| &nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 967381 | &nbsp;&nbsp; 9436554 |
| &nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. ADR | 14923 | &nbsp;&nbsp; 475298 |
| &nbsp;&nbsp;&nbsp; Hero MotoCorp, Ltd. | 18118 | &nbsp;&nbsp; 1138147 |
| &nbsp;&nbsp;&nbsp; Hindalco Industries, Ltd. | 59710 | &nbsp;&nbsp; 607363 |
| &nbsp;&nbsp;&nbsp; Hindustan Aeronautics, Ltd. | 16403 | &nbsp;&nbsp; 705116 |
| &nbsp;&nbsp;&nbsp; Hindustan Petroleum Corp., Ltd. | 221955 | &nbsp;&nbsp; 1069810 |
| &nbsp;&nbsp;&nbsp; Hindustan Zinc, Ltd. | 179294 | &nbsp;&nbsp; 1191138 |
| &nbsp;&nbsp;&nbsp; Hitachi Energy India, Ltd. | 610 | &nbsp;&nbsp; 171032 |
| &nbsp;&nbsp;&nbsp; ICICI Bank, Ltd. | 459897 | &nbsp;&nbsp; 6973050 |
| &nbsp;&nbsp;&nbsp; ICICI Bank, Ltd. ADR | 15560 | &nbsp;&nbsp; 474736 |
| &nbsp;&nbsp;&nbsp; Indian Oil Corp., Ltd. | 1303421 | &nbsp;&nbsp; 2678871 |
| &nbsp;&nbsp;&nbsp; Indian Railway Catering & Tourism Corp., Ltd. | 12386 | &nbsp;&nbsp; 77331 |
| &nbsp;&nbsp;&nbsp; Infosys, Ltd. | 326536 | &nbsp;&nbsp; 4662070 |
| &nbsp;&nbsp;&nbsp; Infosys, Ltd. ADR# | 66754 | &nbsp;&nbsp; 963928 |
| &nbsp;&nbsp;&nbsp; InterGlobe Aviation, Ltd.\* | 11631 | &nbsp;&nbsp; 617537 |
| &nbsp;&nbsp;&nbsp; ITC, Ltd. | 213667 | &nbsp;&nbsp; 737931 |
| &nbsp;&nbsp;&nbsp; JK Cement, Ltd. | 6928 | &nbsp;&nbsp; 430257 |
| &nbsp;&nbsp;&nbsp; Kalyan Jewellers India, Ltd. | 77311 | &nbsp;&nbsp; 348415 |
| &nbsp;&nbsp;&nbsp; Karur Vysya Bank, Ltd. | 62645 | &nbsp;&nbsp; 225030 |
| &nbsp;&nbsp;&nbsp; KEC International, Ltd. | 55175 | &nbsp;&nbsp; 354971 |
| &nbsp;&nbsp;&nbsp; Kotak Mahindra Bank, Ltd. | 241503 | &nbsp;&nbsp; 1104435 |
| &nbsp;&nbsp;&nbsp; L&T Finance, Ltd. | 106440 | &nbsp;&nbsp; 327886 |
| &nbsp;&nbsp;&nbsp; Larsen & Toubro, Ltd. | 84501 | &nbsp;&nbsp; 3966082 |
| &nbsp;&nbsp;&nbsp; Larsen & Toubro, Ltd. GDR | 10036 | &nbsp;&nbsp; 465670 |
| &nbsp;&nbsp;&nbsp; Laurus Labs, Ltd.\* | 32435 | &nbsp;&nbsp; 382173 |
| &nbsp;&nbsp;&nbsp; Lenskart Solutions, Ltd.† | 35876 | &nbsp;&nbsp; 210225 |
| &nbsp;&nbsp;&nbsp; LIC Housing Finance, Ltd. | 62118 | &nbsp;&nbsp; 370074 |
| &nbsp;&nbsp;&nbsp; Life Insurance Corp. of India | 98509 | &nbsp;&nbsp; 916048 |
| &nbsp;&nbsp;&nbsp; LTIMindtree, Ltd.\* | 7946 | &nbsp;&nbsp; 388757 |
| &nbsp;&nbsp;&nbsp; Lupin, Ltd. | 22994 | &nbsp;&nbsp; 580207 |
| &nbsp;&nbsp;&nbsp; Mahindra & Mahindra, Ltd. | 84087 | &nbsp;&nbsp; 3144935 |
| &nbsp;&nbsp;&nbsp; Mangalore Refinery & Petrochemicals, Ltd.† | 301846 | &nbsp;&nbsp; 646982 |
| &nbsp;&nbsp;&nbsp; Marico, Ltd. | 115595 | &nbsp;&nbsp; 1001365 |
| &nbsp;&nbsp;&nbsp; Maruti Suzuki India, Ltd. | 6551 | &nbsp;&nbsp; 1068020 |
| &nbsp;&nbsp;&nbsp; Max Financial Services, Ltd.† | 33814 | &nbsp;&nbsp; 677200 |
| &nbsp;&nbsp;&nbsp; Motilal Oswal Financial Services, Ltd. | 26523 | &nbsp;&nbsp; 211598 |
| &nbsp;&nbsp;&nbsp; Mphasis, Ltd. | 15734 | &nbsp;&nbsp; 397257 |
| &nbsp;&nbsp;&nbsp; MRF, Ltd. | 340 | &nbsp;&nbsp; 526876 |
| &nbsp;&nbsp;&nbsp; MTAR Technologies, Ltd.† | 7494 | &nbsp;&nbsp; 314748 |
| &nbsp;&nbsp;&nbsp; Multi Commodity Exchange of India, Ltd. | 17535 | &nbsp;&nbsp; 471641 |
| &nbsp;&nbsp;&nbsp; Muthoot Finance, Ltd. | 4484 | &nbsp;&nbsp; 164966 |
| &nbsp;&nbsp;&nbsp; Narayana Hrudayalaya, Ltd. | 11170 | &nbsp;&nbsp; 227621 |
| &nbsp;&nbsp;&nbsp; Natco Pharma, Ltd. | 53472 | &nbsp;&nbsp; 580117 |
| &nbsp;&nbsp;&nbsp; National Aluminium Co., Ltd. | 286616 | &nbsp;&nbsp; 1116992 |
| &nbsp;&nbsp;&nbsp; Navin Fluorine International, Ltd. | 9554 | &nbsp;&nbsp; 656878 |
| &nbsp;&nbsp;&nbsp; Nippon Life India Asset Management, Ltd.\* | 33141 | &nbsp;&nbsp; 339146 |
| &nbsp;&nbsp;&nbsp; NTPC, Ltd. | 271132 | &nbsp;&nbsp; 1138456 |
| &nbsp;&nbsp;&nbsp; Oil & Natural Gas Corp., Ltd. | 382704 | &nbsp;&nbsp; 1174072 |
| &nbsp;&nbsp;&nbsp; PB Fintech, Ltd.† | 14378 | &nbsp;&nbsp; 233285 |
| &nbsp;&nbsp;&nbsp; Persistent Systems, Ltd. | 4971 | &nbsp;&nbsp; 257467 |
| &nbsp;&nbsp;&nbsp; Petronet LNG, Ltd. | 213081 | &nbsp;&nbsp; 754878 |
| &nbsp;&nbsp;&nbsp; Polycab India, Ltd. | 12206 | &nbsp;&nbsp; 1154707 |
| &nbsp;&nbsp;&nbsp; Power Grid Corp. of India, Ltd. | 560993 | &nbsp;&nbsp; 1846827 |
| &nbsp;&nbsp;&nbsp; Radico Khaitan, Ltd. | 31127 | &nbsp;&nbsp; 903261 |

---

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **India (continued)** | **India (continued)** | **India (continued)** |
| &nbsp;&nbsp;&nbsp; Reliance Industries, Ltd. | 379843 | &nbsp;&nbsp; $5823971 |
| &nbsp;&nbsp;&nbsp; Sagility India, Ltd. | 427327 | &nbsp;&nbsp; 186476 |
| &nbsp;&nbsp;&nbsp; Samvardhana Motherson International, Ltd. | 250692 | &nbsp;&nbsp; 366767 |
| &nbsp;&nbsp;&nbsp; SBI Life Insurance Co., Ltd.\* | 1868 | &nbsp;&nbsp; 41856 |
| &nbsp;&nbsp;&nbsp; Shree Cement, Ltd. | 1290 | &nbsp;&nbsp; 368597 |
| &nbsp;&nbsp;&nbsp; Shriram Finance, Ltd. | 80026 | &nbsp;&nbsp; 949567 |
| &nbsp;&nbsp;&nbsp; Siemens Energy India, Ltd. | 12602 | &nbsp;&nbsp; 408079 |
| &nbsp;&nbsp;&nbsp; State Bank of India | 175767 | &nbsp;&nbsp; 2321889 |
| &nbsp;&nbsp;&nbsp; Steel Authority of India, Ltd. | 685153 | &nbsp;&nbsp; 1244442 |
| &nbsp;&nbsp;&nbsp; Sun Pharmaceutical Industries, Ltd. | 145212 | &nbsp;&nbsp; 2781935 |
| &nbsp;&nbsp;&nbsp; Swiggy, Ltd.† | 72952 | &nbsp;&nbsp; 240604 |
| &nbsp;&nbsp;&nbsp; Tata Consultancy Services, Ltd. | 97123 | &nbsp;&nbsp; 2818050 |
| &nbsp;&nbsp;&nbsp; Tata Elxsi, Ltd. | 15587 | &nbsp;&nbsp; 771672 |
| &nbsp;&nbsp;&nbsp; Tata Motors Passenger Vehicles, Ltd. | 317477 | &nbsp;&nbsp; 1338288 |
| &nbsp;&nbsp;&nbsp; Tata Motors, Ltd.† | 129428 | &nbsp;&nbsp; 714458 |
| &nbsp;&nbsp;&nbsp; Tata Steel, Ltd. | 254375 | &nbsp;&nbsp; 594414 |
| &nbsp;&nbsp;&nbsp; Tech Mahindra, Ltd. | 90651 | &nbsp;&nbsp; 1349458 |
| &nbsp;&nbsp;&nbsp; Time Technoplast, Ltd. | 68755 | &nbsp;&nbsp; 138906 |
| &nbsp;&nbsp;&nbsp; Titan Co., Ltd. | 13950 | &nbsp;&nbsp; 664408 |
| &nbsp;&nbsp;&nbsp; TVS Motor Co., Ltd. | 26157 | &nbsp;&nbsp; 1111531 |
| &nbsp;&nbsp;&nbsp; UPL, Ltd. | 96801 | &nbsp;&nbsp; 675656 |
| &nbsp;&nbsp;&nbsp; Vedanta, Ltd. | 386339 | &nbsp;&nbsp; 3042683 |
| &nbsp;&nbsp;&nbsp; Vishal Mega Mart, Ltd.† | 82363 | &nbsp;&nbsp; 106692 |
| &nbsp;&nbsp;&nbsp; Welspun Corp., Ltd. | 6568 | &nbsp;&nbsp; 59633 |
| &nbsp;&nbsp;&nbsp; Wipro, Ltd. | 400994 | &nbsp;&nbsp; 885855 |
| &nbsp;&nbsp;&nbsp; Wipro, Ltd. ADR# | 194456 | &nbsp;&nbsp; 431692 |
| &nbsp;&nbsp;&nbsp; Yes Bank, Ltd.† | 1976899 | &nbsp;&nbsp; 449808 |
| &nbsp;&nbsp;&nbsp; Zydus Lifesciences, Ltd. | 5452 | &nbsp;&nbsp; 55304 |
|  |  | &nbsp;&nbsp; 117088567 |
| **Indonesia — 1.1%** | **Indonesia — 1.1%** | **Indonesia — 1.1%** |
| &nbsp;&nbsp;&nbsp; Aneka Tambang Tbk | 2572700 | &nbsp;&nbsp; 667536 |
| &nbsp;&nbsp;&nbsp; Astra International Tbk PT | 1404300 | &nbsp;&nbsp; 559123 |
| &nbsp;&nbsp;&nbsp; Bank Central Asia Tbk PT | 8969500 | &nbsp;&nbsp; 3838721 |
| &nbsp;&nbsp;&nbsp; Bank Mandiri Persero Tbk PT | 5901900 | &nbsp;&nbsp; 1856995 |
| &nbsp;&nbsp;&nbsp; Bank Rakyat Indonesia Persero Tbk PT | 7620000 | &nbsp;&nbsp; 1777167 |
| &nbsp;&nbsp;&nbsp; Japfa Comfeed Indonesia Tbk PT | 3199700 | &nbsp;&nbsp; 454237 |
| &nbsp;&nbsp;&nbsp; Unilever Indonesia Tbk PT | 2292400 | &nbsp;&nbsp; 325435 |
| &nbsp;&nbsp;&nbsp; Vale Indonesia Tbk PT | 848000 | &nbsp;&nbsp; 399595 |
|  |  | &nbsp;&nbsp; 9878809 |
| **Ireland — 0.4%** | **Ireland — 0.4%** | **Ireland — 0.4%** |
| &nbsp;&nbsp;&nbsp; PDD Holdings, Inc. ADR† | 40725 | &nbsp;&nbsp; 4224404 |
| **Jersey — 0.0%** | **Jersey — 0.0%** | **Jersey — 0.0%** |
| &nbsp;&nbsp;&nbsp; Caledonia Mining Corp. PLC | 6296 | &nbsp;&nbsp; 199835 |
| **Kuwait — 0.3%** | **Kuwait — 0.3%** | **Kuwait — 0.3%** |
| &nbsp;&nbsp;&nbsp; Kuwait Finance House KSCP | 862367 | &nbsp;&nbsp; 2264629 |
| &nbsp;&nbsp;&nbsp; National Bank of Kuwait SAKP | 35859 | &nbsp;&nbsp; 110313 |
|  |  | &nbsp;&nbsp; 2374942 |
| **Luxembourg — 0.1%** | **Luxembourg — 0.1%** | **Luxembourg — 0.1%** |
| &nbsp;&nbsp;&nbsp; Zabka Group SA† | 85163 | &nbsp;&nbsp; 532693 |
| **Malaysia — 1.2%** | **Malaysia — 1.2%** | **Malaysia — 1.2%** |
| &nbsp;&nbsp;&nbsp; 99 Speed Mart Retail Holdings Bhd | 700100 | &nbsp;&nbsp; 618952 |
| &nbsp;&nbsp;&nbsp; Malayan Banking Bhd | 1364000 | &nbsp;&nbsp; 4192609 |
| &nbsp;&nbsp;&nbsp; MISC Bhd | 36600 | &nbsp;&nbsp; 75909 |
| &nbsp;&nbsp;&nbsp; Press Metal Aluminium Holdings Bhd | 311400 | &nbsp;&nbsp; 570620 |
| &nbsp;&nbsp;&nbsp; Sime Darby Bhd | 3297000 | &nbsp;&nbsp; 2067510 |
| &nbsp;&nbsp;&nbsp; Sunway Construction Group BHD | 860400 | &nbsp;&nbsp; 1558936 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Malaysia (continued)** | **Malaysia (continued)** | **Malaysia (continued)** |
| &nbsp;&nbsp;&nbsp; Tenaga Nasional Bhd | 502700 | &nbsp;&nbsp; $1857832 |
| &nbsp;&nbsp;&nbsp; Westports Holdings Bhd | 145800 | &nbsp;&nbsp; 230447 |
|  |  | &nbsp;&nbsp; 11172815 |
| **Marshall Islands — 0.3%** | **Marshall Islands — 0.3%** | **Marshall Islands — 0.3%** |
| &nbsp;&nbsp;&nbsp; Costamare, Inc. | 86559 | &nbsp;&nbsp; 1520842 |
| &nbsp;&nbsp;&nbsp; Okeanis Eco Tankers Corp.\* | 11447 | &nbsp;&nbsp; 618710 |
| &nbsp;&nbsp;&nbsp; Star Bulk Carriers Corp. | 12977 | &nbsp;&nbsp; 341165 |
|  |  | &nbsp;&nbsp; 2480717 |
| **Mexico — 1.7%** | **Mexico — 1.7%** | **Mexico — 1.7%** |
| &nbsp;&nbsp;&nbsp; Banco del Bajio SA\*# | 106876 | &nbsp;&nbsp; 356398 |
| &nbsp;&nbsp;&nbsp; Gentera SAB de CV# | 784129 | &nbsp;&nbsp; 2276077 |
| &nbsp;&nbsp;&nbsp; Grupo Financiero Banorte SAB de CV, Class O | 464495 | &nbsp;&nbsp; 5281736 |
| &nbsp;&nbsp;&nbsp; Grupo Mexico SAB de CV, Class B | 362994 | &nbsp;&nbsp; 4600341 |
| &nbsp;&nbsp;&nbsp; Industrias Penoles SAB de CV† | 30279 | &nbsp;&nbsp; 1927469 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark de Mexico SAB de CV, Class A | 81300 | &nbsp;&nbsp; 203887 |
| &nbsp;&nbsp;&nbsp; Regional SAB de CV | 49145 | &nbsp;&nbsp; 459290 |
| &nbsp;&nbsp;&nbsp; Wal-Mart de Mexico SAB de CV# | 210923 | &nbsp;&nbsp; 684624 |
|  |  | &nbsp;&nbsp; 15789822 |
| **Netherlands — 0.0%** | **Netherlands — 0.0%** | **Netherlands — 0.0%** |
| &nbsp;&nbsp;&nbsp; Pepco Group NV | 20052 | &nbsp;&nbsp; 165325 |
| **Philippines — 0.4%** | **Philippines — 0.4%** | **Philippines — 0.4%** |
| &nbsp;&nbsp;&nbsp; International Container Terminal Services, Inc. | 236260 | &nbsp;&nbsp; 2941727 |
| &nbsp;&nbsp;&nbsp; SM Investments Corp. | 69690 | &nbsp;&nbsp; 852015 |
|  |  | &nbsp;&nbsp; 3793742 |
| **Poland — 0.9%** | **Poland — 0.9%** | **Poland — 0.9%** |
| &nbsp;&nbsp;&nbsp; Alior Bank SA | 11 | &nbsp;&nbsp; 368 |
| &nbsp;&nbsp;&nbsp; PGE Polska Grupa Energetyczna SA† | 35934 | &nbsp;&nbsp; 113490 |
| &nbsp;&nbsp;&nbsp; Powszechna Kasa Oszczednosci Bank Polski SA | 134046 | &nbsp;&nbsp; 3468618 |
| &nbsp;&nbsp;&nbsp; Powszechny Zaklad Ubezpieczen SA | 231518 | &nbsp;&nbsp; 4382653 |
| &nbsp;&nbsp;&nbsp; Santander Bank Polska SA | 2166 | &nbsp;&nbsp; 358378 |
| &nbsp;&nbsp;&nbsp; Tauron Polska Energia SA† | 128692 | &nbsp;&nbsp; 423553 |
|  |  | &nbsp;&nbsp; 8747060 |
| **Qatar — 0.7%** | **Qatar — 0.7%** | **Qatar — 0.7%** |
| &nbsp;&nbsp;&nbsp; Barwa Real Estate Co. | 187037 | &nbsp;&nbsp; 131521 |
| &nbsp;&nbsp;&nbsp; Ooredoo Q.P.S.C. | 603273 | &nbsp;&nbsp; 2242937 |
| &nbsp;&nbsp;&nbsp; Qatar National Bank Q.P.S.C. | 710132 | &nbsp;&nbsp; 3759931 |
|  |  | &nbsp;&nbsp; 6134389 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Gazprom PJSC†(1)(2) | 1262418 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Magnitogorsk Iron & Steel Works PJSC†(1)(2) | 2290683 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Sberbank of Russia PJSC†(1)(2) | 1300000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Severstal PAO GDR†(1)(2) | 75082 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 0 |
| **Saudi Arabia — 2.6%** | **Saudi Arabia — 2.6%** | **Saudi Arabia — 2.6%** |
| &nbsp;&nbsp;&nbsp; Al Babtain Power & Telecommunication Co | 17511 | &nbsp;&nbsp; 293631 |
| &nbsp;&nbsp;&nbsp; Al Rajhi Bank | 239901 | &nbsp;&nbsp; 6457083 |
| &nbsp;&nbsp;&nbsp; Banque Saudi Fransi | 154181 | &nbsp;&nbsp; 814574 |
| &nbsp;&nbsp;&nbsp; Electrical Industries Co. | 29053 | &nbsp;&nbsp; 114237 |
| &nbsp;&nbsp;&nbsp; Etihad Etisalat Co. | 66801 | &nbsp;&nbsp; 1144585 |
| &nbsp;&nbsp;&nbsp; Mobile Telecommunications Co. Saudi Arabia | 637854 | &nbsp;&nbsp; 1951957 |
| &nbsp;&nbsp;&nbsp; Mouwasat Medical Services Co. | 41279 | &nbsp;&nbsp; 700236 |
| &nbsp;&nbsp;&nbsp; Riyad Bank | 60185 | &nbsp;&nbsp; 444680 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Mining Co.† | 106610 | &nbsp;&nbsp; 2009718 |
| &nbsp;&nbsp;&nbsp; Saudi Arabian Oil Co.\* | 325348 | &nbsp;&nbsp; 2165105 |
| &nbsp;&nbsp;&nbsp; Saudi Aramco Base Oil Co. | 14693 | &nbsp;&nbsp; 357711 |
| &nbsp;&nbsp;&nbsp; Saudi Awwal Bank | 129905 | &nbsp;&nbsp; 1185066 |
| &nbsp;&nbsp;&nbsp; Saudi Basic Industries Corp. | 198605 | &nbsp;&nbsp; 2869445 |

---

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| &nbsp;&nbsp;&nbsp; Saudi Energy Co. | 326220 | &nbsp;&nbsp; $1176460 |
| &nbsp;&nbsp;&nbsp; Saudi National Bank | 282363 | &nbsp;&nbsp; 3137022 |
|  |  | &nbsp;&nbsp; 24821510 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| &nbsp;&nbsp;&nbsp; Trip.com Group, Ltd. | 60900 | &nbsp;&nbsp; 3202477 |
| **South Africa — 3.2%** | **South Africa — 3.2%** | **South Africa — 3.2%** |
| &nbsp;&nbsp;&nbsp; AVI, Ltd. | 216849 | &nbsp;&nbsp; 1528344 |
| &nbsp;&nbsp;&nbsp; Capitec Bank Holdings, Ltd. | 18288 | &nbsp;&nbsp; 5447828 |
| &nbsp;&nbsp;&nbsp; Clicks Group, Ltd.# | 20936 | &nbsp;&nbsp; 418372 |
| &nbsp;&nbsp;&nbsp; FirstRand, Ltd. | 915425 | &nbsp;&nbsp; 5702238 |
| &nbsp;&nbsp;&nbsp; Gold Fields, Ltd. | 61220 | &nbsp;&nbsp; 3569570 |
| &nbsp;&nbsp;&nbsp; Harmony Gold Mining Co., Ltd. | 22116 | &nbsp;&nbsp; 498368 |
| &nbsp;&nbsp;&nbsp; Impala Platinum Holdings, Ltd. | 21201 | &nbsp;&nbsp; 470879 |
| &nbsp;&nbsp;&nbsp; Kumba Iron Ore, Ltd.# | 49458 | &nbsp;&nbsp; 1141676 |
| &nbsp;&nbsp;&nbsp; MTN Group, Ltd. | 151038 | &nbsp;&nbsp; 1968817 |
| &nbsp;&nbsp;&nbsp; Naspers, Ltd., Class N | 35238 | &nbsp;&nbsp; 1959055 |
| &nbsp;&nbsp;&nbsp; Northam Platinum Holdings, Ltd. | 29036 | &nbsp;&nbsp; 790188 |
| &nbsp;&nbsp;&nbsp; Shoprite Holdings, Ltd. | 4962 | &nbsp;&nbsp; 82427 |
| &nbsp;&nbsp;&nbsp; Sibanye Stillwater, Ltd.† | 168904 | &nbsp;&nbsp; 742493 |
| &nbsp;&nbsp;&nbsp; Standard Bank Group, Ltd. | 124149 | &nbsp;&nbsp; 2505239 |
| &nbsp;&nbsp;&nbsp; Tiger Brands, Ltd. | 72814 | &nbsp;&nbsp; 1454108 |
| &nbsp;&nbsp;&nbsp; Valterra Platinum, Ltd. | 15959 | &nbsp;&nbsp; 1868517 |
|  |  | &nbsp;&nbsp; 30148119 |
| **South Korea — 17.9%** | **South Korea — 17.9%** | **South Korea — 17.9%** |
| &nbsp;&nbsp;&nbsp; APR Corp. | 1847 | &nbsp;&nbsp; 401243 |
| &nbsp;&nbsp;&nbsp; BNK Financial Group, Inc. | 40417 | &nbsp;&nbsp; 559966 |
| &nbsp;&nbsp;&nbsp; Celltrion, Inc. | 17261 | &nbsp;&nbsp; 2861834 |
| &nbsp;&nbsp;&nbsp; CJ CheilJedang Corp. | 6915 | &nbsp;&nbsp; 1028717 |
| &nbsp;&nbsp;&nbsp; CJ ENM Co., Ltd.† | 19984 | &nbsp;&nbsp; 1008577 |
| &nbsp;&nbsp;&nbsp; Daeduck Electronics Co., Ltd. | 3382 | &nbsp;&nbsp; 147176 |
| &nbsp;&nbsp;&nbsp; Dongsung Finetec Co., Ltd.† | 18936 | &nbsp;&nbsp; 387671 |
| &nbsp;&nbsp;&nbsp; Doosan Bobcat, Inc. | 9530 | &nbsp;&nbsp; 430622 |
| &nbsp;&nbsp;&nbsp; Doosan Co., Ltd. | 538 | &nbsp;&nbsp; 477973 |
| &nbsp;&nbsp;&nbsp; Doosan Enerbility Co., Ltd.† | 27024 | &nbsp;&nbsp; 1996977 |
| &nbsp;&nbsp;&nbsp; Ecopro Co., Ltd. | 2931 | &nbsp;&nbsp; 376945 |
| &nbsp;&nbsp;&nbsp; E-MART, Inc. | 14131 | &nbsp;&nbsp; 1031460 |
| &nbsp;&nbsp;&nbsp; Eo Technics Co., Ltd.† | 1887 | &nbsp;&nbsp; 548981 |
| &nbsp;&nbsp;&nbsp; Green Cross Corp.† | 4685 | &nbsp;&nbsp; 550736 |
| &nbsp;&nbsp;&nbsp; GS Engineering & Construction Corp. | 37224 | &nbsp;&nbsp; 579644 |
| &nbsp;&nbsp;&nbsp; GS Holdings Corp. | 18917 | &nbsp;&nbsp; 903440 |
| &nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | 20980 | &nbsp;&nbsp; 1776409 |
| &nbsp;&nbsp;&nbsp; Hanon Systems† | 70120 | &nbsp;&nbsp; 226178 |
| &nbsp;&nbsp;&nbsp; Hanwha Aerospace Co., Ltd. | 618 | &nbsp;&nbsp; 513389 |
| &nbsp;&nbsp;&nbsp; Hanwha Corp.† | 1655 | &nbsp;&nbsp; 157159 |
| &nbsp;&nbsp;&nbsp; Hanwha Engine† | 2130 | &nbsp;&nbsp; 79958 |
| &nbsp;&nbsp;&nbsp; Hanwha Ocean Co., Ltd.† | 3777 | &nbsp;&nbsp; 370742 |
| &nbsp;&nbsp;&nbsp; HD Hyundai Co., Ltd. | 4908 | &nbsp;&nbsp; 997977 |
| &nbsp;&nbsp;&nbsp; HD Hyundai Electric Co., Ltd. | 2326 | &nbsp;&nbsp; 1697810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDC Hyundai Development Co.-Engineering & <br> Construction<br>| 36313 | &nbsp;&nbsp; 584391 |
| &nbsp;&nbsp;&nbsp; HD-Hyundai Marine Engine† | 3456 | &nbsp;&nbsp; 209738 |
| &nbsp;&nbsp;&nbsp; Hugel, Inc.† | 2503 | &nbsp;&nbsp; 469802 |
| &nbsp;&nbsp;&nbsp; Hyosung Heavy Industries Corp. | 434 | &nbsp;&nbsp; 851708 |
| &nbsp;&nbsp;&nbsp; Hyundai Heavy Industries Co., Ltd. | 4195 | &nbsp;&nbsp; 1758488 |
| &nbsp;&nbsp;&nbsp; Hyundai Mobis Co., Ltd. | 5036 | &nbsp;&nbsp; 1809949 |
| &nbsp;&nbsp;&nbsp; Hyundai Motor Co. | 1816 | &nbsp;&nbsp; 850875 |
| &nbsp;&nbsp;&nbsp; Hyundai Rotem Co., Ltd. | 3810 | &nbsp;&nbsp; 610500 |
| &nbsp;&nbsp;&nbsp; Hyundai Steel Co. | 69069 | &nbsp;&nbsp; 2232679 |
| &nbsp;&nbsp;&nbsp; iM Financial Group Co., Ltd. | 50777 | &nbsp;&nbsp; 649141 |
| &nbsp;&nbsp;&nbsp; ISC Co., Ltd. | 370 | &nbsp;&nbsp; 49591 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **South Korea (continued)** | **South Korea (continued)** | **South Korea (continued)** |
| &nbsp;&nbsp;&nbsp; IsuPetasys Co., Ltd. | 714 | &nbsp;&nbsp; $63334 |
| &nbsp;&nbsp;&nbsp; JB Financial Group Co., Ltd. | 22860 | &nbsp;&nbsp; 504557 |
| &nbsp;&nbsp;&nbsp; Kakao Corp. | 25108 | &nbsp;&nbsp; 1087402 |
| &nbsp;&nbsp;&nbsp; Kangwon Land, Inc. | 40095 | &nbsp;&nbsp; 530977 |
| &nbsp;&nbsp;&nbsp; KB Financial Group, Inc. | 32751 | &nbsp;&nbsp; 3620027 |
| &nbsp;&nbsp;&nbsp; KB Financial Group, Inc. ADR# | 4040 | &nbsp;&nbsp; 444400 |
| &nbsp;&nbsp;&nbsp; Kia Corp. | 11601 | &nbsp;&nbsp; 1657286 |
| &nbsp;&nbsp;&nbsp; KIWOOM Securities Co., Ltd. | 949 | &nbsp;&nbsp; 307427 |
| &nbsp;&nbsp;&nbsp; Korea Aerospace Industries, Ltd. | 750 | &nbsp;&nbsp; 99844 |
| &nbsp;&nbsp;&nbsp; Korea Electric Power Corp. | 22846 | &nbsp;&nbsp; 929087 |
| &nbsp;&nbsp;&nbsp; Korea Electric Power Corp. ADR#† | 7767 | &nbsp;&nbsp; 151456 |
| &nbsp;&nbsp;&nbsp; Korea Gas Corp. | 3115 | &nbsp;&nbsp; 89217 |
| &nbsp;&nbsp;&nbsp; Korea Investment Holdings Co., Ltd. | 840 | &nbsp;&nbsp; 150949 |
| &nbsp;&nbsp;&nbsp; Korea Shipbuilding & Offshore Engineering Co., Ltd. | 5652 | &nbsp;&nbsp; 1768092 |
| &nbsp;&nbsp;&nbsp; Korea Zinc Co., Ltd. | 36 | &nbsp;&nbsp; 50803 |
| &nbsp;&nbsp;&nbsp; KT Corp. | 7 | &nbsp;&nbsp; 310 |
| &nbsp;&nbsp;&nbsp; KT&G Corp. | 15379 | &nbsp;&nbsp; 1743702 |
| &nbsp;&nbsp;&nbsp; LG Chem, Ltd. | 684 | &nbsp;&nbsp; 198519 |
| &nbsp;&nbsp;&nbsp; LG Energy Solution, Ltd.† | 1795 | &nbsp;&nbsp; 532822 |
| &nbsp;&nbsp;&nbsp; LG Innotek Co., Ltd. | 7209 | &nbsp;&nbsp; 1598659 |
| &nbsp;&nbsp;&nbsp; LS Corp. | 3226 | &nbsp;&nbsp; 638024 |
| &nbsp;&nbsp;&nbsp; LS Electric Co., Ltd. | 1258 | &nbsp;&nbsp; 688249 |
| &nbsp;&nbsp;&nbsp; Medytox, Inc. | 2821 | &nbsp;&nbsp; 252586 |
| &nbsp;&nbsp;&nbsp; Mirae Asset Securities Co., Ltd. | 1511 | &nbsp;&nbsp; 75629 |
| &nbsp;&nbsp;&nbsp; NAVER Corp. | 11902 | &nbsp;&nbsp; 2105707 |
| &nbsp;&nbsp;&nbsp; NCSoft Corp. | 2904 | &nbsp;&nbsp; 466336 |
| &nbsp;&nbsp;&nbsp; Pan Ocean Co., Ltd. | 72848 | &nbsp;&nbsp; 267388 |
| &nbsp;&nbsp;&nbsp; Posco International Corp. | 20677 | &nbsp;&nbsp; 1037803 |
| &nbsp;&nbsp;&nbsp; Samsung C&T Corp. | 3243 | &nbsp;&nbsp; 790178 |
| &nbsp;&nbsp;&nbsp; Samsung E&A Co., Ltd. | 67557 | &nbsp;&nbsp; 1709471 |
| &nbsp;&nbsp;&nbsp; Samsung Electro-Mechanics Co., Ltd. | 7376 | &nbsp;&nbsp; 2299712 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co., Ltd. | 404193 | &nbsp;&nbsp; 60832662 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co., Ltd. GDR | 1234 | &nbsp;&nbsp; 4494228 |
| &nbsp;&nbsp;&nbsp; Samsung Heavy Industries Co., Ltd.† | 52043 | &nbsp;&nbsp; 1047372 |
| &nbsp;&nbsp;&nbsp; Samsung Life Insurance Co., Ltd. | 2841 | &nbsp;&nbsp; 454244 |
| &nbsp;&nbsp;&nbsp; Samsung Securities Co., Ltd. | 46294 | &nbsp;&nbsp; 3437052 |
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co., Ltd. | 38098 | &nbsp;&nbsp; 2566351 |
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co., Ltd. ADR | 4489 | &nbsp;&nbsp; 299910 |
| &nbsp;&nbsp;&nbsp; SK Hynix, Inc. | 48932 | &nbsp;&nbsp; 36090964 |
| &nbsp;&nbsp;&nbsp; SK Square Co., Ltd.† | 6184 | &nbsp;&nbsp; 2772805 |
| &nbsp;&nbsp;&nbsp; SK, Inc. | 1432 | &nbsp;&nbsp; 399188 |
| &nbsp;&nbsp;&nbsp; SNT Energy Co., Ltd. | 8082 | &nbsp;&nbsp; 258163 |
| &nbsp;&nbsp;&nbsp; S-Oil Corp.† | 592 | &nbsp;&nbsp; 45269 |
| &nbsp;&nbsp;&nbsp; WONIK IPS Co., Ltd. | 3901 | &nbsp;&nbsp; 340609 |
| &nbsp;&nbsp;&nbsp; Woori Financial Group, Inc. | 13581 | &nbsp;&nbsp; 339879 |
|  |  | &nbsp;&nbsp; 168427095 |
| **Taiwan — 22.6%** | **Taiwan — 22.6%** | **Taiwan — 22.6%** |
| &nbsp;&nbsp;&nbsp; Accton Technology Corp. | 31000 | &nbsp;&nbsp; 1352901 |
| &nbsp;&nbsp;&nbsp; Advanced Wireless Semiconductor Co. | 215000 | &nbsp;&nbsp; 846961 |
| &nbsp;&nbsp;&nbsp; Airtac International Group | 29000 | &nbsp;&nbsp; 1119392 |
| &nbsp;&nbsp;&nbsp; AP Memory Technology Corp. | 74000 | &nbsp;&nbsp; 1016969 |
| &nbsp;&nbsp;&nbsp; Arcadyan Technology Corp. | 263000 | &nbsp;&nbsp; 1643654 |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co., Ltd. | 335000 | &nbsp;&nbsp; 4013078 |
| &nbsp;&nbsp;&nbsp; Asia Vital Components Co., Ltd. | 26000 | &nbsp;&nbsp; 1445475 |
| &nbsp;&nbsp;&nbsp; ASPEED Technology, Inc. | 7000 | &nbsp;&nbsp; 2151386 |
| &nbsp;&nbsp;&nbsp; Asustek Computer, Inc. | 20000 | &nbsp;&nbsp; 336581 |
| &nbsp;&nbsp;&nbsp; Bizlink Holding, Inc. | 17375 | &nbsp;&nbsp; 771998 |
| &nbsp;&nbsp;&nbsp; Cathay Financial Holding Co., Ltd. | 926000 | &nbsp;&nbsp; 2357019 |
| &nbsp;&nbsp;&nbsp; Chenbro Micom Co., Ltd. | 25000 | &nbsp;&nbsp; 726884 |
| &nbsp;&nbsp;&nbsp; China Airlines, Ltd. | 814000 | &nbsp;&nbsp; 547638 |
| &nbsp;&nbsp;&nbsp; ChipMOS Technologies, Inc. | 7000 | &nbsp;&nbsp; 15822 |
| &nbsp;&nbsp;&nbsp; Chroma ATE, Inc. | 42000 | &nbsp;&nbsp; 1826664 |

---

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Taiwan (continued)** | **Taiwan (continued)** | **Taiwan (continued)** |
| &nbsp;&nbsp;&nbsp; Chunghwa Precision Test Tech Co., Ltd. | 3000 | &nbsp;&nbsp; $360226 |
| &nbsp;&nbsp;&nbsp; Compeq Manufacturing Co., Ltd. | 234000 | &nbsp;&nbsp; 1513673 |
| &nbsp;&nbsp;&nbsp; Delta Electronics, Inc. | 188000 | &nbsp;&nbsp; 8508302 |
| &nbsp;&nbsp;&nbsp; E.Sun Financial Holding Co., Ltd. | 262348 | &nbsp;&nbsp; 295051 |
| &nbsp;&nbsp;&nbsp; Elite Material Co., Ltd. | 9000 | &nbsp;&nbsp; 684927 |
| &nbsp;&nbsp;&nbsp; eMemory Technology, Inc. | 1000 | &nbsp;&nbsp; 79980 |
| &nbsp;&nbsp;&nbsp; Far EasTone Telecommunications Co., Ltd. | 58000 | &nbsp;&nbsp; 170726 |
| &nbsp;&nbsp;&nbsp; Formosa Chemicals & Fibre Corp. | 302000 | &nbsp;&nbsp; 490299 |
| &nbsp;&nbsp;&nbsp; Formosa Petrochemical Corp. | 1138000 | &nbsp;&nbsp; 1978780 |
| &nbsp;&nbsp;&nbsp; Fubon Financial Holding Co., Ltd. | 122000 | &nbsp;&nbsp; 366731 |
| &nbsp;&nbsp;&nbsp; Genius Electronic Optical Co., Ltd. | 47000 | &nbsp;&nbsp; 665482 |
| &nbsp;&nbsp;&nbsp; Global Unichip Corp. | 10000 | &nbsp;&nbsp; 886897 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. | 1375000 | &nbsp;&nbsp; 10591798 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. GDR | 29102 | &nbsp;&nbsp; 445261 |
| &nbsp;&nbsp;&nbsp; Innodisk Corp. | 20000 | &nbsp;&nbsp; 490531 |
| &nbsp;&nbsp;&nbsp; Kaori Heat Treatment Co., Ltd. | 29000 | &nbsp;&nbsp; 799588 |
| &nbsp;&nbsp;&nbsp; King Yuan Electronics Co., Ltd. | 46000 | &nbsp;&nbsp; 481650 |
| &nbsp;&nbsp;&nbsp; Macronix International Co., Ltd.† | 40000 | &nbsp;&nbsp; 137086 |
| &nbsp;&nbsp;&nbsp; MediaTek, Inc. | 112000 | &nbsp;&nbsp; 6852729 |
| &nbsp;&nbsp;&nbsp; Merry Electronics Co., Ltd. | 154000 | &nbsp;&nbsp; 466697 |
| &nbsp;&nbsp;&nbsp; Micro-Star International Co., Ltd. | 106000 | &nbsp;&nbsp; 320189 |
| &nbsp;&nbsp;&nbsp; Minth Group, Ltd. | 126000 | &nbsp;&nbsp; 706711 |
| &nbsp;&nbsp;&nbsp; MPI Corp. | 2000 | &nbsp;&nbsp; 186193 |
| &nbsp;&nbsp;&nbsp; Nan Ya Plastics Corp. | 363000 | &nbsp;&nbsp; 1087621 |
| &nbsp;&nbsp;&nbsp; Nan Ya Printed Circuit Board Corp. | 13000 | &nbsp;&nbsp; 227807 |
| &nbsp;&nbsp;&nbsp; Nanya Technology Corp.† | 161000 | &nbsp;&nbsp; 1407345 |
| &nbsp;&nbsp;&nbsp; Phison Electronics Corp. | 15000 | &nbsp;&nbsp; 884989 |
| &nbsp;&nbsp;&nbsp; Powertech Technology, Inc. | 183000 | &nbsp;&nbsp; 1471331 |
| &nbsp;&nbsp;&nbsp; Primax Electronics, Ltd. | 453000 | &nbsp;&nbsp; 1187053 |
| &nbsp;&nbsp;&nbsp; Quanta Computer, Inc. | 102000 | &nbsp;&nbsp; 945768 |
| &nbsp;&nbsp;&nbsp; Sunonwealth Electric Machine Industry Co., Ltd. | 166000 | &nbsp;&nbsp; 810812 |
| &nbsp;&nbsp;&nbsp; Synnex Technology International Corp. | 915000 | &nbsp;&nbsp; 2107563 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. | 1995000 | &nbsp;&nbsp; 125357717 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 6642 | &nbsp;&nbsp; 2487960 |
| &nbsp;&nbsp;&nbsp; Taiwan Union Technology Corp. | 10000 | &nbsp;&nbsp; 174521 |
| &nbsp;&nbsp;&nbsp; Tripod Technology Corp. | 283000 | &nbsp;&nbsp; 3497144 |
| &nbsp;&nbsp;&nbsp; TS Financial Holding Co., Ltd. | 375000 | &nbsp;&nbsp; 306753 |
| &nbsp;&nbsp;&nbsp; Unimicron Technology Corp. | 105000 | &nbsp;&nbsp; 1594700 |
| &nbsp;&nbsp;&nbsp; United Integrated Services Co., Ltd. | 50000 | &nbsp;&nbsp; 1827015 |
| &nbsp;&nbsp;&nbsp; United Microelectronics Corp. | 618000 | &nbsp;&nbsp; 1284576 |
| &nbsp;&nbsp;&nbsp; Voltronic Power Technology Corp. | 42000 | &nbsp;&nbsp; 1236802 |
| &nbsp;&nbsp;&nbsp; Winbond Electronics Corp.† | 303000 | &nbsp;&nbsp; 1161851 |
| &nbsp;&nbsp;&nbsp; Wisdom Marine Lines Co., Ltd. | 432000 | &nbsp;&nbsp; 1004925 |
| &nbsp;&nbsp;&nbsp; Wiwynn Corp. | 3000 | &nbsp;&nbsp; 374496 |
| &nbsp;&nbsp;&nbsp; WPG Holdings, Ltd. | 157000 | &nbsp;&nbsp; 350713 |
| &nbsp;&nbsp;&nbsp; XinTec, Inc. | 30000 | &nbsp;&nbsp; 184347 |
| &nbsp;&nbsp;&nbsp; Yageo Corp. | 132000 | &nbsp;&nbsp; 1236695 |
| &nbsp;&nbsp;&nbsp; Yuanta Financial Holding Co., Ltd. | 1469000 | &nbsp;&nbsp; 2307750 |
|  |  | &nbsp;&nbsp; 212170183 |
| **Thailand — 1.3%** | **Thailand — 1.3%** | **Thailand — 1.3%** |
| &nbsp;&nbsp;&nbsp; Advanced Info Service PCL NVDR | 250200 | &nbsp;&nbsp; 3058581 |
| &nbsp;&nbsp;&nbsp; Bangchak Corp. PCL NVDR | 216800 | &nbsp;&nbsp; 263285 |
| &nbsp;&nbsp;&nbsp; Com7 PCL NVDR | 525300 | &nbsp;&nbsp; 407262 |
| &nbsp;&nbsp;&nbsp; Delta Electronics Thailand PCL NVDR | 297100 | &nbsp;&nbsp; 2666588 |
| &nbsp;&nbsp;&nbsp; Gulf Development PCL NVDR | 822200 | &nbsp;&nbsp; 1639903 |
| &nbsp;&nbsp;&nbsp; Krungthai Card PCL NVDR | 657800 | &nbsp;&nbsp; 703614 |
| &nbsp;&nbsp;&nbsp; Osotspa PCL NVDR | 722300 | &nbsp;&nbsp; 399664 |
| &nbsp;&nbsp;&nbsp; PTT Exploration & Production PCL NVDR | 249800 | &nbsp;&nbsp; 1100936 |
| &nbsp;&nbsp;&nbsp; PTT Oil & Retail Business PCL NVDR | 2072000 | &nbsp;&nbsp; 893190 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Thailand (continued)** | **Thailand (continued)** | **Thailand (continued)** |
| &nbsp;&nbsp;&nbsp; Thai Oil PCL NVDR | 792500 | &nbsp;&nbsp; $1395830 |
| &nbsp;&nbsp;&nbsp; Thai Union Group PCL NVDR | 206800 | &nbsp;&nbsp; 82494 |
|  |  | &nbsp;&nbsp; 12611347 |
| **Turkey — 0.4%** | **Turkey — 0.4%** | **Turkey — 0.4%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Icecek AS | 28029 | &nbsp;&nbsp; 45424 |
| &nbsp;&nbsp;&nbsp; Migros Ticaret AS | 96974 | &nbsp;&nbsp; 1424790 |
| &nbsp;&nbsp;&nbsp; Turk Hava Yollari AO | 15201 | &nbsp;&nbsp; 106394 |
| &nbsp;&nbsp;&nbsp; Turk Telekomunikasyon AS† | 1475718 | &nbsp;&nbsp; 2282402 |
|  |  | &nbsp;&nbsp; 3859010 |
| **United Arab Emirates — 1.5%** | **United Arab Emirates — 1.5%** | **United Arab Emirates — 1.5%** |
| &nbsp;&nbsp;&nbsp; Abu Dhabi Commercial Bank PJSC | 363722 | &nbsp;&nbsp; 1501212 |
| &nbsp;&nbsp;&nbsp; Abu Dhabi Islamic Bank PJSC | 258968 | &nbsp;&nbsp; 1797875 |
| &nbsp;&nbsp;&nbsp; Abu Dhabi National Oil Co. PJSC | 1256058 | &nbsp;&nbsp; 1367864 |
| &nbsp;&nbsp;&nbsp; Aldar Properties PJSC | 362884 | &nbsp;&nbsp; 1067001 |
| &nbsp;&nbsp;&nbsp; Dubai Electricity & Water Authority PJSC | 1346863 | &nbsp;&nbsp; 1100064 |
| &nbsp;&nbsp;&nbsp; Emaar Development PJSC | 135216 | &nbsp;&nbsp; 712331 |
| &nbsp;&nbsp;&nbsp; Emaar Properties PJSC | 1063630 | &nbsp;&nbsp; 4691144 |
| &nbsp;&nbsp;&nbsp; First Abu Dhabi Bank PJSC | 427577 | &nbsp;&nbsp; 2283949 |
|  |  | &nbsp;&nbsp; 14521440 |
| **United Kingdom — 0.6%** | **United Kingdom — 0.6%** | **United Kingdom — 0.6%** |
| &nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC | 42733 | &nbsp;&nbsp; 5388377 |
| **United States — 0.4%** | **United States — 0.4%** | **United States — 0.4%** |
| &nbsp;&nbsp;&nbsp; BeOne Medicines, Ltd.† | 42800 | &nbsp;&nbsp; 1052029 |
| &nbsp;&nbsp;&nbsp; Coupang, Inc.† | 102080 | &nbsp;&nbsp; 1947686 |
| &nbsp;&nbsp;&nbsp; Southern Copper Corp.# | 1434 | &nbsp;&nbsp; 312960 |
|  |  | &nbsp;&nbsp; 3312675 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $695,826,155)<br>|  | &nbsp;&nbsp; 927387293 |
| **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** |
| **India — 0.0%** | **India — 0.0%** | **India — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TVS Motor Co., Ltd. 6.00%†(1)(2) <br>(cost $0)<br>| 67628 | &nbsp;&nbsp; 7434 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $695,826,155)<br>|  | &nbsp;&nbsp; 927394727 |
| **SHORT-TERM INVESTMENTS — 1.9%** | **SHORT-TERM INVESTMENTS — 1.9%** | **SHORT-TERM INVESTMENTS — 1.9%** |
| **Unaffiliated Investment Companies — 1.9%** | **Unaffiliated Investment Companies — 1.9%** | **Unaffiliated Investment Companies — 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class 3.63%(3)<br>| 15490931 | &nbsp;&nbsp; 15490931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio 3.69%(3)(4)<br>| 2591933 | &nbsp;&nbsp; 2591933 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $18,082,864)<br>|  | &nbsp;&nbsp; 18082864 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $713,909,019)<br>| 100.6<br> %<br>| &nbsp;&nbsp; 945477591 |
| Other assets less liabilities | (0.6)<br>| &nbsp;&nbsp; (5856961)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $939620630 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The Emerging Economies Fund has no right to demand registration <br> of these securities. At February 28, 2026, the aggregate value of these securities was <br> $22,945,805 representing 2.4% of net assets.<br>|
| # | The security or a portion thereof is out on loan. |

---

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Securities classified as Level 3 (see Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Denotes a restricted security that: (a) cannot be offered for public sale without
 first being registered, or being able to take advantage of an exemption from registration, under
 the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales
 by operation of applicable law. Restricted securities are valued pursuant to Note 1.
 Certain restricted securities held by the Fund may not be sold except in exempt transactions
 or in a public offering registered under the 1933 Act. The Fund has no right to demand registration of these securities. The risk of investing in certain restricted securities
 is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Fund to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit
 greater price volatility than securities for which secondary markets exist. As of February
 28, 2026, the Fund held the following restricted securities:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Gazprom PJSC | 6/10/21 | 1262418 | $4856005 | $0 | $0.00 | 0.0<br> %<br>|
| &nbsp;&nbsp;&nbsp; Magnitogorsk Iron & Steel <br> Works PJSC<br>| 12/14/20, 12/16/20, <br> 02/10/21<br>| 2290683 | 1607263 | 0 | 0.00 | 0.0 |
| Sberbank of Russia PJSC | 11/12/20, 11/20/20, <br> 12/14/20, 12/16/20, <br> 11/24/21<br>| 1300000 | 4716417 | 0 | 0.00 | 0.0 |
| Severstal PAO GDR | 10/30/20, 11/20/20, <br> 12/14/20, 12/16/20<br>| 75082 | 1073688 | 0 | 0.00 | 0.0 |
| **<u>Preferred Stocks</u>** | **<u>Preferred Stocks</u>** | **<u>Preferred Stocks</u>** | **<u>Preferred Stocks</u>** | **<u>Preferred Stocks</u>** | **<u>Preferred Stocks</u>** | **<u>Preferred Stocks</u>** |
| TVS Motor Co., Ltd. | 08/25/25 | 67628 | 0 | 7434 | 0.11 | 0.0 |
|  |  |  |  | $7434 |  | 0.0<br> %\*\*<br>|

---

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

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Fund and may not equal the sum of the individual percentages shown due to rounding. 

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) At February 28, 2026, the Fund had loaned securities with a total value of $18,354,901. This was secured by collateral of $2,591,933, which was received in cash and subsequently invested in short-term investments currently valued at $2,591,933 as reported in the Portfolio of Investments. Additional collateral of $16,733,326 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $2825 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 14223 |
| United States Treasury Bills | 0.00% | 05/19/2026 | 15717 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 08/15/2055 | 16700561 |

---

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

ADR—American Depositary Receipt <br> GDR—Global Depositary Receipt <br> NVDR—Non-Voting Depositary Receipt

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 172 | Long | MSCI Emerging Markets Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $13641594 | &nbsp;&nbsp;&nbsp;&nbsp; $13791820 | &nbsp;&nbsp;&nbsp;&nbsp; $150226 |

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Semiconductors | 26.7<br> %<br>|
| Banks | 14.3 |
| Internet | 9.2 |
| Mining | 3.9 |
| Oil & Gas | 3.5 |
| Electronics | 3.4 |
| Diversified Financial Services | 3.1 |

---

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Telecommunications | 3.0<br> %<br>|
| Insurance | 2.9 |
| Computers | 2.7 |
| Short-Term Investments | 1.9 |
| Pharmaceuticals | 1.9 |
| Auto Parts & Equipment | 1.7 |
| Auto Manufacturers | 1.6 |
| Iron/Steel | 1.5 |
| Engineering & Construction | 1.5 |
| Retail | 1.4 |
| Electrical Components & Equipment | 1.4 |
| Electric | 1.2 |
| Commercial Services | 1.2 |
| Food | 1.0 |
| Beverages | 0.9 |
| Machinery-Construction & Mining | 0.9 |
| Chemicals | 0.9 |
| Real Estate | 0.9 |
| Home Furnishings | 0.7 |
| Software | 0.7 |
| Miscellaneous Manufacturing | 0.6 |
| Biotechnology | 0.5 |
| Shipbuilding | 0.5 |
| Leisure Time | 0.4 |
| Transportation | 0.4 |
| Agriculture | 0.4 |
| Distribution/Wholesale | 0.3 |
| Investment Companies | 0.3 |
| Entertainment | 0.3 |
| Gas | 0.3 |
| Healthcare-Services | 0.3 |
| Lodging | 0.3 |
| Aerospace/Defense | 0.3 |
| Holding Companies-Diversified | 0.3 |
| Metal Fabricate/Hardware | 0.2 |
| Building Materials | 0.2 |
| Airlines | 0.2 |
| Healthcare-Products | 0.1 |
| Machinery-Diversified | 0.1 |
| Energy-Alternate Sources | 0.1 |
| Trucking & Leasing | 0.1 |
| Cosmetics/Personal Care | 0.1 |
| Hand/Machine Tools | 0.1 |
| Pipelines | 0.1 |
| Water | 0.1 |
|  | 100.6<br> %<br>|

---

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

\* Calculated as a percentage of net assets

------

**VALIC Company I Emerging Economies Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Kuwait | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2374942 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2374942 |
| &nbsp;&nbsp;&nbsp; Qatar | &nbsp;&nbsp; — | &nbsp;&nbsp; 6134389 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6134389 |
| &nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp; — | &nbsp;&nbsp; 24821510 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24821510 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; 3639932 | &nbsp;&nbsp; 208530251 | &nbsp;&nbsp; — | &nbsp;&nbsp; 212170183 |
| &nbsp;&nbsp;&nbsp; Other Countries | &nbsp;&nbsp; 681886269 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 681886269 |
| Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7434 | &nbsp;&nbsp; 7434 |
| Short-Term Investments | &nbsp;&nbsp; 18082864 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 18082864 |
| **Total Investments at Value** | &nbsp;&nbsp; $703609065 | &nbsp;&nbsp; $241861092 | &nbsp;&nbsp; $7434 | &nbsp;&nbsp; $945477591 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $150226 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $150226 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Global Real Estate Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.7%** | **COMMON STOCKS — 97.7%** | **COMMON STOCKS — 97.7%** |
| **Australia — 7.0%** | **Australia — 7.0%** | **Australia — 7.0%** |
| &nbsp;&nbsp;&nbsp; Charter Hall Group | 130469 | &nbsp;&nbsp; $2049161 |
| &nbsp;&nbsp;&nbsp; Goodman Group# | 356576 | &nbsp;&nbsp; 7343737 |
| &nbsp;&nbsp;&nbsp; GPT Group | 553661 | &nbsp;&nbsp; 1993705 |
| &nbsp;&nbsp;&nbsp; NEXTDC, Ltd.#† | 305798 | &nbsp;&nbsp; 3020582 |
| &nbsp;&nbsp;&nbsp; Scentre Group | 2656302 | &nbsp;&nbsp; 7221166 |
|  |  | &nbsp;&nbsp; 21628351 |
| **Belgium — 1.3%** | **Belgium — 1.3%** | **Belgium — 1.3%** |
| &nbsp;&nbsp;&nbsp; Aedifica SA# | 22705 | &nbsp;&nbsp; 2110040 |
| &nbsp;&nbsp;&nbsp; Warehouses De Pauw CVA | 66625 | &nbsp;&nbsp; 2049976 |
|  |  | &nbsp;&nbsp; 4160016 |
| **Bermuda — 0.4%** | **Bermuda — 0.4%** | **Bermuda — 0.4%** |
| &nbsp;&nbsp;&nbsp; Hongkong Land Holdings, Ltd. | 126600 | &nbsp;&nbsp; 1097622 |
| **Canada — 1.7%** | **Canada — 1.7%** | **Canada — 1.7%** |
| &nbsp;&nbsp;&nbsp; Canadian Apartment Properties REIT | 44001 | &nbsp;&nbsp; 1217402 |
| &nbsp;&nbsp;&nbsp; Chartwell Retirement Residences(1) | 113500 | &nbsp;&nbsp; 1848884 |
| &nbsp;&nbsp;&nbsp; First Capital Real Estate Investment Trust | 141770 | &nbsp;&nbsp; 2223130 |
|  |  | &nbsp;&nbsp; 5289416 |
| **France — 1.3%** | **France — 1.3%** | **France — 1.3%** |
| &nbsp;&nbsp;&nbsp; Klepierre SA | 92022 | &nbsp;&nbsp; 3873077 |
| **Germany — 1.1%** | **Germany — 1.1%** | **Germany — 1.1%** |
| &nbsp;&nbsp;&nbsp; Vonovia SE | 104220 | &nbsp;&nbsp; 3533069 |
| **Guernsey — 0.5%** | **Guernsey — 0.5%** | **Guernsey — 0.5%** |
| &nbsp;&nbsp;&nbsp; Shurgard Self Storage, Ltd. | 51163 | &nbsp;&nbsp; 1686672 |
| **Hong Kong — 1.7%** | **Hong Kong — 1.7%** | **Hong Kong — 1.7%** |
| &nbsp;&nbsp;&nbsp; Swire Properties, Ltd. | 1518901 | &nbsp;&nbsp; 5242008 |
| **Japan — 10.3%** | **Japan — 10.3%** | **Japan — 10.3%** |
| &nbsp;&nbsp;&nbsp; Comforia Residential REIT, Inc. | 1389 | &nbsp;&nbsp; 998846 |
| &nbsp;&nbsp;&nbsp; Industrial & Infrastructure Fund Investment Corp. | 985 | &nbsp;&nbsp; 958730 |
| &nbsp;&nbsp;&nbsp; Invincible Investment Corp. | 1723 | &nbsp;&nbsp; 731501 |
| &nbsp;&nbsp;&nbsp; Japan Hotel REIT Investment Corp. | 2945 | &nbsp;&nbsp; 1599180 |
| &nbsp;&nbsp;&nbsp; Japan Metropolitan Fund Investment Corp.# | 2210 | &nbsp;&nbsp; 1722262 |
| &nbsp;&nbsp;&nbsp; KDX Realty Investment Corp. | 648 | &nbsp;&nbsp; 705408 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Estate Co., Ltd. | 296537 | &nbsp;&nbsp; 10022235 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Co., Ltd. | 745535 | &nbsp;&nbsp; 10056475 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Logistics Park, Inc. | 1912 | &nbsp;&nbsp; 1441055 |
| &nbsp;&nbsp;&nbsp; Nippon Accommodations Fund, Inc. # | 1026 | &nbsp;&nbsp; 905999 |
| &nbsp;&nbsp;&nbsp; Nippon Building Fund, Inc. | 2079 | &nbsp;&nbsp; 1934356 |
| &nbsp;&nbsp;&nbsp; Star Asia Investment Corp. | 1661 | &nbsp;&nbsp; 646680 |
|  |  | &nbsp;&nbsp; 31722727 |
| **Singapore — 2.0%** | **Singapore — 2.0%** | **Singapore — 2.0%** |
| &nbsp;&nbsp;&nbsp; CapitaLand Ascendas REIT | 1291600 | &nbsp;&nbsp; 2746782 |
| &nbsp;&nbsp;&nbsp; CapitaLand India Trust#(1) | 1805958 | &nbsp;&nbsp; 1727575 |
| &nbsp;&nbsp;&nbsp; CapitaLand Integrated Commercial Trust | 506100 | &nbsp;&nbsp; 980271 |
| &nbsp;&nbsp;&nbsp; Parkway Life Real Estate Investment Trust | 238800 | &nbsp;&nbsp; 758934 |
|  |  | &nbsp;&nbsp; 6213562 |
| **Spain — 1.6%** | **Spain — 1.6%** | **Spain — 1.6%** |
| &nbsp;&nbsp;&nbsp; Merlin Properties Socimi SA | 282393 | &nbsp;&nbsp; 5008471 |
| **SupraNational — 1.0%** | **SupraNational — 1.0%** | **SupraNational — 1.0%** |
| &nbsp;&nbsp;&nbsp; Unibail-Rodamco-Westfield | 23504 | &nbsp;&nbsp; 2948033 |
| **Sweden — 0.4%** | **Sweden — 0.4%** | **Sweden — 0.4%** |
| &nbsp;&nbsp;&nbsp; Catena AB | 21685 | &nbsp;&nbsp; 1196235 |
| **United Kingdom — 6.2%** | **United Kingdom — 6.2%** | **United Kingdom — 6.2%** |
| &nbsp;&nbsp;&nbsp; Big Yellow Group PLC | 87739 | &nbsp;&nbsp; 1229712 |
| &nbsp;&nbsp;&nbsp; British Land Co. PLC | 322930 | &nbsp;&nbsp; 1775603 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp;&nbsp; Derwent London PLC | 38739 | &nbsp;&nbsp; $947029 |
| &nbsp;&nbsp;&nbsp; Grainger PLC | 588907 | &nbsp;&nbsp; 1523791 |
| &nbsp;&nbsp;&nbsp; Land Securities Group PLC | 203405 | &nbsp;&nbsp; 1772179 |
| &nbsp;&nbsp;&nbsp; LondonMetric Property PLC | 333774 | &nbsp;&nbsp; 967093 |
| &nbsp;&nbsp;&nbsp; Safestore Holdings PLC | 147305 | &nbsp;&nbsp; 1574229 |
| &nbsp;&nbsp;&nbsp; Segro PLC | 239328 | &nbsp;&nbsp; 2713127 |
| &nbsp;&nbsp;&nbsp; Tritax Big Box REIT PLC | 1744450 | &nbsp;&nbsp; 4050617 |
| &nbsp;&nbsp;&nbsp; UNITE Group PLC | 379618 | &nbsp;&nbsp; 2578426 |
|  |  | &nbsp;&nbsp; 19131806 |
| **United States — 61.2%** | **United States — 61.2%** | **United States — 61.2%** |
| &nbsp;&nbsp;&nbsp; Acadia Realty Trust | 97822 | &nbsp;&nbsp; 2046436 |
| &nbsp;&nbsp;&nbsp; Agree Realty Corp. | 21500 | &nbsp;&nbsp; 1730320 |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 25233 | &nbsp;&nbsp; 1363591 |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent, Class A | 208759 | &nbsp;&nbsp; 6262770 |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | 13954 | &nbsp;&nbsp; 2677215 |
| &nbsp;&nbsp;&nbsp; Americold Realty Trust, Inc.# | 76506 | &nbsp;&nbsp; 1024415 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 25469 | &nbsp;&nbsp; 4513871 |
| &nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 132201 | &nbsp;&nbsp; 4001724 |
| &nbsp;&nbsp;&nbsp; BXP, Inc. | 53772 | &nbsp;&nbsp; 3096192 |
| &nbsp;&nbsp;&nbsp; Cousins Properties, Inc. | 94703 | &nbsp;&nbsp; 2193322 |
| &nbsp;&nbsp;&nbsp; CubeSmart | 78270 | &nbsp;&nbsp; 3220028 |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 67121 | &nbsp;&nbsp; 11893841 |
| &nbsp;&nbsp;&nbsp; Douglas Emmett, Inc. | 69366 | &nbsp;&nbsp; 686030 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | 17678 | &nbsp;&nbsp; 17222968 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 85382 | &nbsp;&nbsp; 5734255 |
| &nbsp;&nbsp;&nbsp; Equity Residential | 33461 | &nbsp;&nbsp; 2115070 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 138556 | &nbsp;&nbsp; 4702591 |
| &nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 18051 | &nbsp;&nbsp; 4604991 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage, Inc. | 12137 | &nbsp;&nbsp; 1833051 |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | 20688 | &nbsp;&nbsp; 2250234 |
| &nbsp;&nbsp;&nbsp; First Industrial Realty Trust, Inc. | 71525 | &nbsp;&nbsp; 4516089 |
| &nbsp;&nbsp;&nbsp; Healthcare Realty Trust, Inc. | 119745 | &nbsp;&nbsp; 2209295 |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. | 35558 | &nbsp;&nbsp; 628665 |
| &nbsp;&nbsp;&nbsp; Highwoods Properties, Inc. | 68482 | &nbsp;&nbsp; 1540160 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc. | 36840 | &nbsp;&nbsp; 3990877 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | 77509 | &nbsp;&nbsp; 1825337 |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co., Class A | 16264 | &nbsp;&nbsp; 2240203 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. | 39102 | &nbsp;&nbsp; 5234194 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. | 42929 | &nbsp;&nbsp; 1945542 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust# | 116000 | &nbsp;&nbsp; 1488280 |
| &nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 58075 | &nbsp;&nbsp; 2281186 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | 159730 | &nbsp;&nbsp; 22772706 |
| &nbsp;&nbsp;&nbsp; Public Storage | 12765 | &nbsp;&nbsp; 3919621 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | 22614 | &nbsp;&nbsp; 1786506 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. | 43208 | &nbsp;&nbsp; 1619004 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | 38951 | &nbsp;&nbsp; 3846411 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 46515 | &nbsp;&nbsp; 9482083 |
| &nbsp;&nbsp;&nbsp; Smartstop Self Storage REIT, Inc.# | 26506 | &nbsp;&nbsp; 883975 |
| &nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | 126848 | &nbsp;&nbsp; 1177150 |
| &nbsp;&nbsp;&nbsp; Ventas, Inc. | 133088 | &nbsp;&nbsp; 11466862 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc. | 80121 | &nbsp;&nbsp; 2420455 |
| &nbsp;&nbsp;&nbsp; Vornado Realty Trust | 58305 | &nbsp;&nbsp; 1608052 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc. | 79295 | &nbsp;&nbsp; 16423580 |
|  |  | &nbsp;&nbsp; 188479148 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $265,866,844)<br>|  | &nbsp;&nbsp; 301210213 |
| **SHORT-TERM INVESTMENTS — 1.6%** | **SHORT-TERM INVESTMENTS — 1.6%** | **SHORT-TERM INVESTMENTS — 1.6%** |
| **U.S. Government Agency — 1.3%** | **U.S. Government Agency — 1.3%** | **U.S. Government Agency — 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Bank Disc. Notes <br>3.48%, 03/02/2026<br>| $3953000 | &nbsp;&nbsp; 3951811 |

---

------

**VALIC Company I Global Real Estate Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** | **SHORT-TERM INVESTMENTS (continued)** |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(2)(3)<br>| 870405 | &nbsp;&nbsp; $870405 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $4,823,023)<br>|  | &nbsp;&nbsp; 4822216 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $270,689,867)<br>| 99.3<br> %<br>| &nbsp;&nbsp; 306032429 |
| Other assets less liabilities | 0.7 | &nbsp;&nbsp; 2064481 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $308096910 |

---

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

# The security or a portion thereof is out on loan. <br> † Non-income producing security <br> (1) Consists of more than one type of securities traded together as a unit.

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(3) At February 28, 2026, the Fund had loaned securities with a total value of $11,759,248. This was secured by collateral of $870,405, which was received in cash and subsequently invested in short-term investments currently valued at $870,405 as reported in the Portfolio of Investments. Additional collateral of $11,479,734 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $3920 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 19738 |
| United States Treasury Bills | 0.00% | 04/30/2026 to 07/02/2026 | 8677 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 08/15/2055 | 11447399 |

---

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

CVA—Certification Van Aandelen (Dutch Cert.)<br>

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Diversified REITS | 18.5<br> %<br>|
| Warehouse/Industrial REITS | 14.9 |
| Real Estate | 11.3 |
| Health Care REITS | 11.2 |
| Shopping Centers REITS | 9.5 |
| Apartment REITS | 9.4 |
| Storage REITS | 5.9 |
| Regional Malls REITS | 4.4 |
| Office Property REITS | 3.7 |
| Single Tenant REITS | 2.7 |
| Hotel REITS | 2.7 |
| Manufactured Homes REITS | 1.9 |
| Short-Term Investments | 1.6 |
| Telecommunications | 1.0 |
| Healthcare-Services | 0.6 |
|  | 99.3<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $301210213 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $301210213 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; U.S. Government Agency | &nbsp;&nbsp; — | &nbsp;&nbsp; 3951811 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3951811 |
| &nbsp;&nbsp;&nbsp; Other Short-Term Investments | &nbsp;&nbsp; 870405 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 870405 |
| **Total Investments at Value** | &nbsp;&nbsp; $302080618 | &nbsp;&nbsp; $3951811 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $306032429 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 60.1%** | **COMMON STOCKS — 60.1%** | **COMMON STOCKS — 60.1%** |
| **Australia — 0.4%** | **Australia — 0.4%** | **Australia — 0.4%** |
| &nbsp;&nbsp;&nbsp; BHP Group, Ltd.# | 9652 | &nbsp;&nbsp; $401209 |
| &nbsp;&nbsp;&nbsp; Brambles, Ltd. | 10342 | &nbsp;&nbsp; 184586 |
| &nbsp;&nbsp;&nbsp; Fortescue, Ltd.# | 27127 | &nbsp;&nbsp; 408106 |
| &nbsp;&nbsp;&nbsp; Qantas Airways, Ltd. | 12 | &nbsp;&nbsp; 85 |
|  |  | &nbsp;&nbsp; 993986 |
| **Austria — 0.0%** | **Austria — 0.0%** | **Austria — 0.0%** |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | 383 | &nbsp;&nbsp; 45572 |
| &nbsp;&nbsp;&nbsp; OMV AG | 526 | &nbsp;&nbsp; 34059 |
|  |  | &nbsp;&nbsp; 79631 |
| **Belgium — 0.0%** | **Belgium — 0.0%** | **Belgium — 0.0%** |
| &nbsp;&nbsp;&nbsp; KBC Group NV | 269 | &nbsp;&nbsp; 36489 |
| **Bermuda — 0.0%** | **Bermuda — 0.0%** | **Bermuda — 0.0%** |
| &nbsp;&nbsp;&nbsp; Arch Capital Group, Ltd.† | 264 | &nbsp;&nbsp; 26440 |
| **Brazil — 1.1%** | **Brazil — 1.1%** | **Brazil — 1.1%** |
| &nbsp;&nbsp;&nbsp; AMBEV SA | 65 | &nbsp;&nbsp; 206 |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | 43 | &nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; BB Seguridade Participacoes SA | 12200 | &nbsp;&nbsp; 82531 |
| &nbsp;&nbsp;&nbsp; Cia de Saneamento Basico do Estado de Sao Paulo | 8169 | &nbsp;&nbsp; 245222 |
| &nbsp;&nbsp;&nbsp; CPFL Energia SA | 22700 | &nbsp;&nbsp; 222949 |
| &nbsp;&nbsp;&nbsp; Itausa SA (Preference Shares) | 69318 | &nbsp;&nbsp; 192952 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA | 61709 | &nbsp;&nbsp; 514352 |
| &nbsp;&nbsp;&nbsp; Petroleo Brasileiro SA (Preference Shares) | 62200 | &nbsp;&nbsp; 477192 |
| &nbsp;&nbsp;&nbsp; Vale SA | 58100 | &nbsp;&nbsp; 1002654 |
|  |  | &nbsp;&nbsp; 2738208 |
| **Canada — 1.1%** | **Canada — 1.1%** | **Canada — 1.1%** |
| &nbsp;&nbsp;&nbsp; Agnico Eagle Mines, Ltd. | 1500 | &nbsp;&nbsp; 376779 |
| &nbsp;&nbsp;&nbsp; Barrick Mining Corp.# | 1400 | &nbsp;&nbsp; 71034 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | 400 | &nbsp;&nbsp; 40406 |
| &nbsp;&nbsp;&nbsp; CGI, Inc. | 100 | &nbsp;&nbsp; 7313 |
| &nbsp;&nbsp;&nbsp; Fairfax Financial Holdings, Ltd.# | 316 | &nbsp;&nbsp; 543887 |
| &nbsp;&nbsp;&nbsp; Great-West Lifeco, Inc. | 4300 | &nbsp;&nbsp; 207742 |
| &nbsp;&nbsp;&nbsp; Imperial Oil, Ltd.# | 400 | &nbsp;&nbsp; 46787 |
| &nbsp;&nbsp;&nbsp; Kinross Gold Corp. (TSX) | 19413 | &nbsp;&nbsp; 717572 |
| &nbsp;&nbsp;&nbsp; Loblaw Cos., Ltd. | 1003 | &nbsp;&nbsp; 46486 |
| &nbsp;&nbsp;&nbsp; Lundin Gold, Inc. | 1800 | &nbsp;&nbsp; 169661 |
| &nbsp;&nbsp;&nbsp; Magna International, Inc.# | 1019 | &nbsp;&nbsp; 64253 |
| &nbsp;&nbsp;&nbsp; Open Text Corp.# | 3900 | &nbsp;&nbsp; 96610 |
| &nbsp;&nbsp;&nbsp; Suncor Energy, Inc.# | 3700 | &nbsp;&nbsp; 208999 |
|  |  | &nbsp;&nbsp; 2597529 |
| **China — 2.9%** | **China — 2.9%** | **China — 2.9%** |
| &nbsp;&nbsp;&nbsp; 3SBio, Inc.\* | 37 | &nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Agricultural Bank of China, Ltd. | 354000 | &nbsp;&nbsp; 240271 |
| &nbsp;&nbsp;&nbsp; Aluminum Corp. of China, Ltd. | 153 | &nbsp;&nbsp; 277 |
| &nbsp;&nbsp;&nbsp; Bank of China, Ltd. | 361000 | &nbsp;&nbsp; 214106 |
| &nbsp;&nbsp;&nbsp; China CITIC Bank Corp., Ltd. | 135798 | &nbsp;&nbsp; 125151 |
| &nbsp;&nbsp;&nbsp; China Communications Services Corp., Ltd. | 1925 | &nbsp;&nbsp; 1095 |
| &nbsp;&nbsp;&nbsp; China Construction Bank Corp. | 1538471 | &nbsp;&nbsp; 1571233 |
| &nbsp;&nbsp;&nbsp; China Hongqiao Group, Ltd. | 46230 | &nbsp;&nbsp; 209540 |
| &nbsp;&nbsp;&nbsp; China Life Insurance Co., Ltd. | 119454 | &nbsp;&nbsp; 482189 |
| &nbsp;&nbsp;&nbsp; China Merchants Bank Co., Ltd.# | 4000 | &nbsp;&nbsp; 24971 |
| &nbsp;&nbsp;&nbsp; China Minsheng Banking Corp., Ltd. | 278 | &nbsp;&nbsp; 144 |
| &nbsp;&nbsp;&nbsp; China Pacific Insurance Group Co., Ltd. | 43737 | &nbsp;&nbsp; 200924 |
| &nbsp;&nbsp;&nbsp; China Tower Corp., Ltd.\* | 100 | &nbsp;&nbsp; 143 |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co., Ltd., Class A | 3 | &nbsp;&nbsp; 150 |
| &nbsp;&nbsp;&nbsp; COSCO SHIPPING Holdings Co., Ltd.# | 43000 | &nbsp;&nbsp; 83434 |
| &nbsp;&nbsp;&nbsp; Huaneng Power International, Inc. | 72000 | &nbsp;&nbsp; 55495 |
| &nbsp;&nbsp;&nbsp; Industrial & Commercial Bank of China, Ltd. | 1041416 | &nbsp;&nbsp; 858595 |
| &nbsp;&nbsp;&nbsp; JD Logistics, Inc.\*† | 34200 | &nbsp;&nbsp; 48830 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **China (continued)** | **China (continued)** | **China (continued)** |
| &nbsp;&nbsp;&nbsp; JD.com, Inc., Class A | 8 | &nbsp;&nbsp; $107 |
| &nbsp;&nbsp;&nbsp; NetEase, Inc. | 27800 | &nbsp;&nbsp; 636777 |
| &nbsp;&nbsp;&nbsp; New China Life Insurance Co., Ltd. | 61041 | &nbsp;&nbsp; 431080 |
| &nbsp;&nbsp;&nbsp; People's Insurance Co. Group of China, Ltd. | 144774 | &nbsp;&nbsp; 118619 |
| &nbsp;&nbsp;&nbsp; PetroChina Co., Ltd. | 350044 | &nbsp;&nbsp; 426850 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China, Ltd.# | 107000 | &nbsp;&nbsp; 930030 |
| &nbsp;&nbsp;&nbsp; Pop Mart International Group, Ltd.\*# | 7288 | &nbsp;&nbsp; 214073 |
| &nbsp;&nbsp;&nbsp; Vipshop Holdings, Ltd. ADR | 5437 | &nbsp;&nbsp; 94713 |
|  |  | &nbsp;&nbsp; 6968901 |
| **Czech Republic — 0.0%** | **Czech Republic — 0.0%** | **Czech Republic — 0.0%** |
| &nbsp;&nbsp;&nbsp; CEZ AS | 1 | &nbsp;&nbsp; 57 |
| **Denmark — 0.1%** | **Denmark — 0.1%** | **Denmark — 0.1%** |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B | 2 | &nbsp;&nbsp; 75 |
| &nbsp;&nbsp;&nbsp; Pandora A/S | 1313 | &nbsp;&nbsp; 103818 |
| &nbsp;&nbsp;&nbsp; ROCKWOOL A/S, Class B | 946 | &nbsp;&nbsp; 31348 |
|  |  | &nbsp;&nbsp; 135241 |
| **Egypt — 0.0%** | **Egypt — 0.0%** | **Egypt — 0.0%** |
| &nbsp;&nbsp;&nbsp; Commercial International Bank Egypt SAE | 40528 | &nbsp;&nbsp; 112836 |
| **Finland — 0.1%** | **Finland — 0.1%** | **Finland — 0.1%** |
| &nbsp;&nbsp;&nbsp; Nokia Oyj | 32 | &nbsp;&nbsp; 245 |
| &nbsp;&nbsp;&nbsp; Orion Oyj, Class B | 2 | &nbsp;&nbsp; 160 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | 6260 | &nbsp;&nbsp; 272943 |
|  |  | &nbsp;&nbsp; 273348 |
| **France — 1.8%** | **France — 1.8%** | **France — 1.8%** |
| &nbsp;&nbsp;&nbsp; Air Liquide SA | 226 | &nbsp;&nbsp; 47598 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | 1844 | &nbsp;&nbsp; 208082 |
| &nbsp;&nbsp;&nbsp; Bouygues SA | 3072 | &nbsp;&nbsp; 191222 |
| &nbsp;&nbsp;&nbsp; Cie de Saint-Gobain SA | 2023 | &nbsp;&nbsp; 206146 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | 1140 | &nbsp;&nbsp; 196935 |
| &nbsp;&nbsp;&nbsp; Engie SA | 19285 | &nbsp;&nbsp; 659233 |
| &nbsp;&nbsp;&nbsp; Klepierre SA | 3569 | &nbsp;&nbsp; 150214 |
| &nbsp;&nbsp;&nbsp; Orange SA | 3 | &nbsp;&nbsp; 65 |
| &nbsp;&nbsp;&nbsp; Safran SA | 3918 | &nbsp;&nbsp; 1574033 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | 450 | &nbsp;&nbsp; 43707 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | 1 | &nbsp;&nbsp; 327 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | 11321 | &nbsp;&nbsp; 988017 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | 2 | &nbsp;&nbsp; 159 |
|  |  | &nbsp;&nbsp; 4265738 |
| **Germany — 1.1%** | **Germany — 1.1%** | **Germany — 1.1%** |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG | 29650 | &nbsp;&nbsp; 1061368 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG | 9603 | &nbsp;&nbsp; 103121 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG | 2980 | &nbsp;&nbsp; 176411 |
| &nbsp;&nbsp;&nbsp; GEA Group AG | 1744 | &nbsp;&nbsp; 135801 |
| &nbsp;&nbsp;&nbsp; Heidelberg Materials AG | 1869 | &nbsp;&nbsp; 418604 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG | 44 | &nbsp;&nbsp; 28886 |
| &nbsp;&nbsp;&nbsp; Rheinmetall AG | 24 | &nbsp;&nbsp; 47174 |
| &nbsp;&nbsp;&nbsp; RWE AG | 10293 | &nbsp;&nbsp; 663327 |
|  |  | &nbsp;&nbsp; 2634692 |
| **Greece — 0.0%** | **Greece — 0.0%** | **Greece — 0.0%** |
| &nbsp;&nbsp;&nbsp; OPAP Holding SA | 3076 | &nbsp;&nbsp; 57427 |
| **Hong Kong — 0.4%** | **Hong Kong — 0.4%** | **Hong Kong — 0.4%** |
| &nbsp;&nbsp;&nbsp; Alibaba Group Holding, Ltd. | 7 | &nbsp;&nbsp; 128 |
| &nbsp;&nbsp;&nbsp; Bosideng International Holdings, Ltd. | 243 | &nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; China Taiping Insurance Holdings Co., Ltd. | 23848 | &nbsp;&nbsp; 69684 |
| &nbsp;&nbsp;&nbsp; CITIC, Ltd. | 67559 | &nbsp;&nbsp; 108117 |
| &nbsp;&nbsp;&nbsp; CK Asset Holdings, Ltd. | 31 | &nbsp;&nbsp; 197 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| &nbsp;&nbsp;&nbsp; CK Hutchison Holdings, Ltd. | 5500 | &nbsp;&nbsp; $45274 |
| &nbsp;&nbsp;&nbsp; WH Group, Ltd.\* | 542920 | &nbsp;&nbsp; 682866 |
|  |  | &nbsp;&nbsp; 906417 |
| **Hungary — 0.2%** | **Hungary — 0.2%** | **Hungary — 0.2%** |
| &nbsp;&nbsp;&nbsp; MOL Hungarian Oil & Gas PLC | 6893 | &nbsp;&nbsp; 76255 |
| &nbsp;&nbsp;&nbsp; OTP Bank Nyrt | 3146 | &nbsp;&nbsp; 387786 |
| &nbsp;&nbsp;&nbsp; Richter Gedeon Nyrt | 2319 | &nbsp;&nbsp; 86823 |
|  |  | &nbsp;&nbsp; 550864 |
| **India — 0.7%** | **India — 0.7%** | **India — 0.7%** |
| &nbsp;&nbsp;&nbsp; Bharat Petroleum Corp., Ltd. | 248932 | &nbsp;&nbsp; 1052628 |
| &nbsp;&nbsp;&nbsp; Coal India, Ltd. | 13509 | &nbsp;&nbsp; 63925 |
| &nbsp;&nbsp;&nbsp; HCL Technologies, Ltd. | 9 | &nbsp;&nbsp; 137 |
| &nbsp;&nbsp;&nbsp; Hindalco Industries, Ltd. | 17150 | &nbsp;&nbsp; 174448 |
| &nbsp;&nbsp;&nbsp; Hindustan Petroleum Corp., Ltd. | 15318 | &nbsp;&nbsp; 73832 |
| &nbsp;&nbsp;&nbsp; Infosys, Ltd. | 394 | &nbsp;&nbsp; 5625 |
| &nbsp;&nbsp;&nbsp; NTPC, Ltd. | 36 | &nbsp;&nbsp; 151 |
| &nbsp;&nbsp;&nbsp; Oil & Natural Gas Corp., Ltd. | 52165 | &nbsp;&nbsp; 160034 |
| &nbsp;&nbsp;&nbsp; Power Finance Corp., Ltd. | 23757 | &nbsp;&nbsp; 107639 |
| &nbsp;&nbsp;&nbsp; REC, Ltd. | 18249 | &nbsp;&nbsp; 69996 |
| &nbsp;&nbsp;&nbsp; Shriram Finance, Ltd. | 3542 | &nbsp;&nbsp; 42028 |
| &nbsp;&nbsp;&nbsp; Tata Consultancy Services, Ltd. | 4 | &nbsp;&nbsp; 116 |
| &nbsp;&nbsp;&nbsp; Tata Motors Passenger Vehicles, Ltd. | 3418 | &nbsp;&nbsp; 14408 |
| &nbsp;&nbsp;&nbsp; Tata Motors, Ltd.† | 3418 | &nbsp;&nbsp; 18868 |
| &nbsp;&nbsp;&nbsp; Vedanta, Ltd. | 29 | &nbsp;&nbsp; 228 |
|  |  | &nbsp;&nbsp; 1784063 |
| **Indonesia — 0.1%** | **Indonesia — 0.1%** | **Indonesia — 0.1%** |
| &nbsp;&nbsp;&nbsp; Astra International Tbk PT | 335737 | &nbsp;&nbsp; 133674 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| &nbsp;&nbsp;&nbsp; Allegion PLC | 64 | &nbsp;&nbsp; 10314 |
| &nbsp;&nbsp;&nbsp; Linde PLC | 103 | &nbsp;&nbsp; 52332 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 2900 | &nbsp;&nbsp; 283214 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 701 | &nbsp;&nbsp; 161335 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 300 | &nbsp;&nbsp; 138696 |
|  |  | &nbsp;&nbsp; 645891 |
| **Israel — 0.1%** | **Israel — 0.1%** | **Israel — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bank Leumi Le-Israel BM | 1845 | &nbsp;&nbsp; 44626 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies, Ltd.† | 297 | &nbsp;&nbsp; 45165 |
| &nbsp;&nbsp;&nbsp; Nice, Ltd.† | 797 | &nbsp;&nbsp; 90320 |
| &nbsp;&nbsp;&nbsp; Phoenix Financial, Ltd. | 5 | &nbsp;&nbsp; 255 |
|  |  | &nbsp;&nbsp; 180366 |
| **Italy — 0.4%** | **Italy — 0.4%** | **Italy — 0.4%** |
| &nbsp;&nbsp;&nbsp; Enel SpA | 19638 | &nbsp;&nbsp; 236544 |
| &nbsp;&nbsp;&nbsp; Generali | 4 | &nbsp;&nbsp; 171 |
| &nbsp;&nbsp;&nbsp; Leonardo SpA | 2565 | &nbsp;&nbsp; 172150 |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA\* | 5928 | &nbsp;&nbsp; 159353 |
| &nbsp;&nbsp;&nbsp; Prysmian SpA | 473 | &nbsp;&nbsp; 57287 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | 3553 | &nbsp;&nbsp; 303993 |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni SpA | 6 | &nbsp;&nbsp; 150 |
|  |  | &nbsp;&nbsp; 929648 |
| **Japan — 2.7%** | **Japan — 2.7%** | **Japan — 2.7%** |
| &nbsp;&nbsp;&nbsp; Advantest Corp. | 2400 | &nbsp;&nbsp; 412641 |
| &nbsp;&nbsp;&nbsp; Asahi Kasei Corp. | 19400 | &nbsp;&nbsp; 229138 |
| &nbsp;&nbsp;&nbsp; Asics Corp. | 8300 | &nbsp;&nbsp; 254796 |
| &nbsp;&nbsp;&nbsp; Bandai Namco Holdings, Inc. | 1600 | &nbsp;&nbsp; 43482 |
| &nbsp;&nbsp;&nbsp; Central Japan Railway Co. | 13553 | &nbsp;&nbsp; 399912 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. | 3 | &nbsp;&nbsp; 201 |
| &nbsp;&nbsp;&nbsp; Daifuku Co., Ltd. | 5372 | &nbsp;&nbsp; 222634 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | 8400 | &nbsp;&nbsp; $80038 |
| &nbsp;&nbsp;&nbsp; Fujikura, Ltd. | 3300 | &nbsp;&nbsp; 565585 |
| &nbsp;&nbsp;&nbsp; Fujitsu, Ltd. | 6500 | &nbsp;&nbsp; 149342 |
| &nbsp;&nbsp;&nbsp; Hoya Corp. | 1200 | &nbsp;&nbsp; 217193 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | 14165 | &nbsp;&nbsp; 344680 |
| &nbsp;&nbsp;&nbsp; Kao Corp. | 1100 | &nbsp;&nbsp; 47011 |
| &nbsp;&nbsp;&nbsp; Kirin Holdings Co., Ltd. | 8000 | &nbsp;&nbsp; 138674 |
| &nbsp;&nbsp;&nbsp; Konami Group Corp. | 1 | &nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | 8100 | &nbsp;&nbsp; 311624 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | 20500 | &nbsp;&nbsp; 152340 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corp. | 12600 | &nbsp;&nbsp; 483377 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Heavy Industries, Ltd. | 5 | &nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; NEC Corp. | 20500 | &nbsp;&nbsp; 568930 |
| &nbsp;&nbsp;&nbsp; Nitto Denko Corp.# | 9200 | &nbsp;&nbsp; 214263 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | 8100 | &nbsp;&nbsp; 131590 |
| &nbsp;&nbsp;&nbsp; Recruit Holdings Co., Ltd. | 11900 | &nbsp;&nbsp; 523199 |
| &nbsp;&nbsp;&nbsp; Ryohin Keikaku Co., Ltd. | 7 | &nbsp;&nbsp; 161 |
| &nbsp;&nbsp;&nbsp; Shionogi & Co., Ltd. | 4000 | &nbsp;&nbsp; 93849 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings, Inc. | 5 | &nbsp;&nbsp; 200 |
| &nbsp;&nbsp;&nbsp; Subaru Corp. | 7000 | &nbsp;&nbsp; 132972 |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | 6800 | &nbsp;&nbsp; 290132 |
| &nbsp;&nbsp;&nbsp; TDK Corp. | 10 | &nbsp;&nbsp; 155 |
| &nbsp;&nbsp;&nbsp; TIS, Inc. | 2200 | &nbsp;&nbsp; 45419 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron, Ltd. | 200 | &nbsp;&nbsp; 56363 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co., Ltd. | 4700 | &nbsp;&nbsp; 230418 |
| &nbsp;&nbsp;&nbsp; Toray Industries, Inc. | 4 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; Toyota Tsusho Corp.# | 6600 | &nbsp;&nbsp; 295334 |
|  |  | &nbsp;&nbsp; 6635981 |
| **Luxembourg — 0.0%** | **Luxembourg — 0.0%** | **Luxembourg — 0.0%** |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 70 | &nbsp;&nbsp; 36046 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | 9 | &nbsp;&nbsp; 246 |
|  |  | &nbsp;&nbsp; 36292 |
| **Malaysia — 0.0%** | **Malaysia — 0.0%** | **Malaysia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Petronas Dagangan Bhd | 27 | &nbsp;&nbsp; 152 |
| &nbsp;&nbsp;&nbsp; Tenaga Nasional Bhd | 41 | &nbsp;&nbsp; 152 |
|  |  | &nbsp;&nbsp; 304 |
| **Mexico — 0.0%** | **Mexico — 0.0%** | **Mexico — 0.0%** |
| &nbsp;&nbsp;&nbsp; Prologis Property Mexico SA de CV | 7792 | &nbsp;&nbsp; 38417 |
| **Netherlands — 0.5%** | **Netherlands — 0.5%** | **Netherlands — 0.5%** |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | 2315 | &nbsp;&nbsp; 345954 |
| &nbsp;&nbsp;&nbsp; JBS NV† | 11 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | 14459 | &nbsp;&nbsp; 713630 |
| &nbsp;&nbsp;&nbsp; Magnum Ice Cream Co. NV (XAMS)† | 2583 | &nbsp;&nbsp; 40902 |
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | 1 | &nbsp;&nbsp; 80 |
|  |  | &nbsp;&nbsp; 1100750 |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| &nbsp;&nbsp;&nbsp; Fisher & Paykel Healthcare Corp., Ltd. | 1330 | &nbsp;&nbsp; 32630 |
| **Norway — 0.2%** | **Norway — 0.2%** | **Norway — 0.2%** |
| &nbsp;&nbsp;&nbsp; Equinor ASA | 7913 | &nbsp;&nbsp; 234353 |
| &nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | 5 | &nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Yara International ASA | 2747 | &nbsp;&nbsp; 138877 |
|  |  | &nbsp;&nbsp; 373433 |
| **Poland — 0.5%** | **Poland — 0.5%** | **Poland — 0.5%** |
| &nbsp;&nbsp;&nbsp; Orlen SA | 35647 | &nbsp;&nbsp; 1143888 |
| **Qatar — 0.0%** | **Qatar — 0.0%** | **Qatar — 0.0%** |
| &nbsp;&nbsp;&nbsp; Qatar National Bank Q.P.S.C. | 5542 | &nbsp;&nbsp; 29343 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| &nbsp;&nbsp;&nbsp; MMC Norilsk Nickel PJSC†(1)(2) | 56300 | &nbsp;&nbsp; $0 |
| **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** | **Saudi Arabia — 0.0%** |
| &nbsp;&nbsp;&nbsp; SABIC Agri-Nutrients Co. | 3723 | &nbsp;&nbsp; 122826 |
| &nbsp;&nbsp;&nbsp; Saudi Energy Co. | 39 | &nbsp;&nbsp; 141 |
|  |  | &nbsp;&nbsp; 122967 |
| **Singapore — 0.2%** | **Singapore — 0.2%** | **Singapore — 0.2%** |
| &nbsp;&nbsp;&nbsp; Singapore Exchange, Ltd. | 14241 | &nbsp;&nbsp; 204906 |
| &nbsp;&nbsp;&nbsp; Singapore Technologies Engineering, Ltd. | 25935 | &nbsp;&nbsp; 204421 |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings, Ltd. | 41357 | &nbsp;&nbsp; 141900 |
|  |  | &nbsp;&nbsp; 551227 |
| **South Africa — 0.2%** | **South Africa — 0.2%** | **South Africa — 0.2%** |
| &nbsp;&nbsp;&nbsp; FirstRand, Ltd. | 6248 | &nbsp;&nbsp; 38919 |
| &nbsp;&nbsp;&nbsp; Gold Fields, Ltd. | 4205 | &nbsp;&nbsp; 245182 |
| &nbsp;&nbsp;&nbsp; Harmony Gold Mining Co., Ltd. | 9489 | &nbsp;&nbsp; 213828 |
| &nbsp;&nbsp;&nbsp; MTN Group, Ltd. | 3930 | &nbsp;&nbsp; 51228 |
| &nbsp;&nbsp;&nbsp; Sasol, Ltd.† | 22 | &nbsp;&nbsp; 201 |
|  |  | &nbsp;&nbsp; 549358 |
| **South Korea — 3.5%** | **South Korea — 3.5%** | **South Korea — 3.5%** |
| &nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | 4453 | &nbsp;&nbsp; 377042 |
| &nbsp;&nbsp;&nbsp; Hyundai Glovis Co., Ltd. | 622 | &nbsp;&nbsp; 125178 |
| &nbsp;&nbsp;&nbsp; Kia Corp. | 3780 | &nbsp;&nbsp; 540000 |
| &nbsp;&nbsp;&nbsp; Korea Electric Power Corp. | 4259 | &nbsp;&nbsp; 173202 |
| &nbsp;&nbsp;&nbsp; Korea Shipbuilding & Offshore Engineering Co., Ltd. | 704 | &nbsp;&nbsp; 220229 |
| &nbsp;&nbsp;&nbsp; Meritz Financial Group, Inc.† | 2 | &nbsp;&nbsp; 177 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co., Ltd. | 17175 | &nbsp;&nbsp; 2584906 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co., Ltd. (Preference Shares) | 13054 | &nbsp;&nbsp; 1304946 |
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co., Ltd. | 5800 | &nbsp;&nbsp; 390699 |
| &nbsp;&nbsp;&nbsp; SK Hynix, Inc. | 2516 | &nbsp;&nbsp; 1855736 |
| &nbsp;&nbsp;&nbsp; SK Square Co., Ltd.† | 1474 | &nbsp;&nbsp; 660918 |
| &nbsp;&nbsp;&nbsp; Woori Financial Group, Inc. | 10569 | &nbsp;&nbsp; 264501 |
|  |  | &nbsp;&nbsp; 8497534 |
| **Spain — 0.7%** | **Spain — 0.7%** | **Spain — 0.7%** |
| &nbsp;&nbsp;&nbsp; Acciona SA# | 410 | &nbsp;&nbsp; 119564 |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | 2 | &nbsp;&nbsp; 259 |
| &nbsp;&nbsp;&nbsp; Aena SME SA\* | 8690 | &nbsp;&nbsp; 273850 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | 13293 | &nbsp;&nbsp; 310213 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | 9986 | &nbsp;&nbsp; 124130 |
| &nbsp;&nbsp;&nbsp; Endesa SA | 5280 | &nbsp;&nbsp; 215677 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | 4854 | &nbsp;&nbsp; 114997 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | 20161 | &nbsp;&nbsp; 114966 |
| &nbsp;&nbsp;&nbsp; Repsol SA | 18076 | &nbsp;&nbsp; 406134 |
|  |  | &nbsp;&nbsp; 1679790 |
| **Sweden — 0.1%** | **Sweden — 0.1%** | **Sweden — 0.1%** |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class B | 1631 | &nbsp;&nbsp; 30686 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, Class B | 16759 | &nbsp;&nbsp; 194089 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B | 5 | &nbsp;&nbsp; 195 |
|  |  | &nbsp;&nbsp; 224970 |
| **Switzerland — 1.8%** | **Switzerland — 1.8%** | **Switzerland — 1.8%** |
| &nbsp;&nbsp;&nbsp; ABB, Ltd. | 3153 | &nbsp;&nbsp; 294529 |
| &nbsp;&nbsp;&nbsp; Coca-Cola HBC AG | 1344 | &nbsp;&nbsp; 87121 |
| &nbsp;&nbsp;&nbsp; Garmin, Ltd. | 1 | &nbsp;&nbsp; 253 |
| &nbsp;&nbsp;&nbsp; Geberit AG | 218 | &nbsp;&nbsp; 183734 |
| &nbsp;&nbsp;&nbsp; Holcim AG | 1706 | &nbsp;&nbsp; 157275 |
| &nbsp;&nbsp;&nbsp; Novartis AG | 9319 | &nbsp;&nbsp; 1581751 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Switzerland (continued)** | **Switzerland (continued)** | **Switzerland (continued)** |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | 4241 | &nbsp;&nbsp; $2024383 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG (BR) | 40 | &nbsp;&nbsp; 19843 |
|  |  | &nbsp;&nbsp; 4348889 |
| **Taiwan — 1.7%** | **Taiwan — 1.7%** | **Taiwan — 1.7%** |
| &nbsp;&nbsp;&nbsp; ASE Technology Holding Co., Ltd. | 26 | &nbsp;&nbsp; 312 |
| &nbsp;&nbsp;&nbsp; Asustek Computer, Inc. | 7 | &nbsp;&nbsp; 118 |
| &nbsp;&nbsp;&nbsp; Evergreen Marine Corp. Taiwan, Ltd. | 17103 | &nbsp;&nbsp; 107939 |
| &nbsp;&nbsp;&nbsp; Hon Hai Precision Industry Co., Ltd. | 3000 | &nbsp;&nbsp; 23109 |
| &nbsp;&nbsp;&nbsp; Novatek Microelectronics Corp. | 11 | &nbsp;&nbsp; 138 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. | 58101 | &nbsp;&nbsp; 3650831 |
| &nbsp;&nbsp;&nbsp; United Microelectronics Corp. | 187439 | &nbsp;&nbsp; 389611 |
|  |  | &nbsp;&nbsp; 4172058 |
| **Thailand — 0.0%** | **Thailand — 0.0%** | **Thailand — 0.0%** |
| &nbsp;&nbsp;&nbsp; Advanced Info Service PCL | 4600 | &nbsp;&nbsp; 56233 |
| &nbsp;&nbsp;&nbsp; PTT Exploration & Production PCL | 41 | &nbsp;&nbsp; 177 |
|  |  | &nbsp;&nbsp; 56410 |
| **Turkey — 0.0%** | **Turkey — 0.0%** | **Turkey — 0.0%** |
| &nbsp;&nbsp;&nbsp; Turk Hava Yollari AO | 9103 | &nbsp;&nbsp; 63713 |
| &nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri AS | 11985 | &nbsp;&nbsp; 31590 |
|  |  | &nbsp;&nbsp; 95303 |
| **United Arab Emirates — 0.9%** | **United Arab Emirates — 0.9%** | **United Arab Emirates — 0.9%** |
| &nbsp;&nbsp;&nbsp; Aldar Properties PJSC | 3448 | &nbsp;&nbsp; 10138 |
| &nbsp;&nbsp;&nbsp; Emaar Development PJSC | 261199 | &nbsp;&nbsp; 1376023 |
| &nbsp;&nbsp;&nbsp; Emaar Properties PJSC | 106051 | &nbsp;&nbsp; 467739 |
| &nbsp;&nbsp;&nbsp; Emirates NBD Bank PJSC | 24165 | &nbsp;&nbsp; 217107 |
|  |  | &nbsp;&nbsp; 2071007 |
| **United Kingdom — 2.3%** | **United Kingdom — 2.3%** | **United Kingdom — 2.3%** |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | 16172 | &nbsp;&nbsp; 724004 |
| &nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC | 2 | &nbsp;&nbsp; 252 |
| &nbsp;&nbsp;&nbsp; Associated British Foods PLC# | 832 | &nbsp;&nbsp; 22167 |
| &nbsp;&nbsp;&nbsp; Barclays PLC | 62992 | &nbsp;&nbsp; 384430 |
| &nbsp;&nbsp;&nbsp; Centrica PLC | 80675 | &nbsp;&nbsp; 216519 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC | 1 | &nbsp;&nbsp; 31 |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC | 3094 | &nbsp;&nbsp; 220573 |
| &nbsp;&nbsp;&nbsp; Fresnillo PLC# | 5 | &nbsp;&nbsp; 286 |
| &nbsp;&nbsp;&nbsp; GSK PLC | 52436 | &nbsp;&nbsp; 1555346 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC | 15337 | &nbsp;&nbsp; 288042 |
| &nbsp;&nbsp;&nbsp; Imperial Brands PLC | 1781 | &nbsp;&nbsp; 79805 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | 118 | &nbsp;&nbsp; 130 |
| &nbsp;&nbsp;&nbsp; Kingfisher PLC | 29108 | &nbsp;&nbsp; 145338 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC | 120797 | &nbsp;&nbsp; 1007684 |
| &nbsp;&nbsp;&nbsp; Next PLC | 1939 | &nbsp;&nbsp; 353290 |
| &nbsp;&nbsp;&nbsp; RELX PLC† | 1751 | &nbsp;&nbsp; 60976 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce Holdings PLC | 21115 | &nbsp;&nbsp; 379456 |
| &nbsp;&nbsp;&nbsp; Sage Group PLC | 10 | &nbsp;&nbsp; 111 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC | 8 | &nbsp;&nbsp; 197 |
| &nbsp;&nbsp;&nbsp; Unilever PLC | 1132 | &nbsp;&nbsp; 83401 |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC | 39161 | &nbsp;&nbsp; 60428 |
|  |  | &nbsp;&nbsp; 5582466 |
| **United States — 34.0%** | **United States — 34.0%** | **United States — 34.0%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 8039 | &nbsp;&nbsp; 1865691 |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 6224 | &nbsp;&nbsp; 1633240 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. | 6548 | &nbsp;&nbsp; 1404677 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 11797 | &nbsp;&nbsp; 3677833 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 11872 | &nbsp;&nbsp; 3697297 |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | 22517 | &nbsp;&nbsp; 1554574 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 11910 | &nbsp;&nbsp; 2501100 |
| &nbsp;&nbsp;&nbsp; American Express Co. | 642 | &nbsp;&nbsp; 198314 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 2763 | &nbsp;&nbsp; $1072486 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 411 | &nbsp;&nbsp; 60031 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 19242 | &nbsp;&nbsp; 5083352 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 2326 | &nbsp;&nbsp; 1011275 |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 1 | &nbsp;&nbsp; 133 |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 1 | &nbsp;&nbsp; 214 |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 12 | &nbsp;&nbsp; 45067 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 628 | &nbsp;&nbsp; 111300 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 10343 | &nbsp;&nbsp; 1231851 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 1683 | &nbsp;&nbsp; 104296 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 334 | &nbsp;&nbsp; 1415943 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 453 | &nbsp;&nbsp; 34813 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 6783 | &nbsp;&nbsp; 423056 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 5343 | &nbsp;&nbsp; 1707356 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 57 | &nbsp;&nbsp; 10595 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.† | 1 | &nbsp;&nbsp; 104 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 684 | &nbsp;&nbsp; 156793 |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 442 | &nbsp;&nbsp; 328331 |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 9428 | &nbsp;&nbsp; 938463 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 3948 | &nbsp;&nbsp; 794061 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 579 | &nbsp;&nbsp; 46007 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | 2147 | &nbsp;&nbsp; 138331 |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 11111 | &nbsp;&nbsp; 1101545 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | 2117 | &nbsp;&nbsp; 65542 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc.† | 41 | &nbsp;&nbsp; 13329 |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 1811 | &nbsp;&nbsp; 212376 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | 9647 | &nbsp;&nbsp; 419934 |
| &nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. | 1 | &nbsp;&nbsp; 204 |
| &nbsp;&nbsp;&nbsp; DocuSign, Inc.† | 2840 | &nbsp;&nbsp; 127999 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 325 | &nbsp;&nbsp; 130816 |
| &nbsp;&nbsp;&nbsp; eBay, Inc. | 1303 | &nbsp;&nbsp; 118391 |
| &nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 181 | &nbsp;&nbsp; 36303 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 44 | &nbsp;&nbsp; 46288 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | 1 | &nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 560 | &nbsp;&nbsp; 69485 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 2 | &nbsp;&nbsp; 134 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 4376 | &nbsp;&nbsp; 943859 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.† | 229 | &nbsp;&nbsp; 322743 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | 3645 | &nbsp;&nbsp; 167816 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | 180 | &nbsp;&nbsp; 69660 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 1765 | &nbsp;&nbsp; 139488 |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class A | 2988 | &nbsp;&nbsp; 168344 |
| &nbsp;&nbsp;&nbsp; Gaming & Leisure Properties, Inc. | 4397 | &nbsp;&nbsp; 215057 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc.† | 1 | &nbsp;&nbsp; 157 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | 1971 | &nbsp;&nbsp; 703746 |
| &nbsp;&nbsp;&nbsp; General Electric Co. | 1 | &nbsp;&nbsp; 342 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | 18640 | &nbsp;&nbsp; 1467154 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 11040 | &nbsp;&nbsp; 1644408 |
| &nbsp;&nbsp;&nbsp; GoDaddy, Inc., Class A† | 1 | &nbsp;&nbsp; 87 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 956 | &nbsp;&nbsp; 134633 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 2620 | &nbsp;&nbsp; 1387814 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 6 | &nbsp;&nbsp; 129 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 1162 | &nbsp;&nbsp; 305060 |
| &nbsp;&nbsp;&nbsp; Hubbell, Inc. | 184 | &nbsp;&nbsp; 94140 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 1280 | &nbsp;&nbsp; 840614 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 572 | &nbsp;&nbsp; 166240 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 2655 | &nbsp;&nbsp; 268872 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | 1 | &nbsp;&nbsp; 240 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 207 | &nbsp;&nbsp; 84669 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 791 | &nbsp;&nbsp; 196508 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 909 | &nbsp;&nbsp; 101299 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 212 | &nbsp;&nbsp; 323205 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; Kroger Co. | 10166 | &nbsp;&nbsp; $693728 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 3371 | &nbsp;&nbsp; 788443 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 956 | &nbsp;&nbsp; 167396 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. | 91 | &nbsp;&nbsp; 51865 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | 3 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 1090 | &nbsp;&nbsp; 717307 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.† | 405 | &nbsp;&nbsp; 74994 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | 218 | &nbsp;&nbsp; 15613 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 2938 | &nbsp;&nbsp; 1519563 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc.† | 20 | &nbsp;&nbsp; 35152 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 1202 | &nbsp;&nbsp; 148832 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 4771 | &nbsp;&nbsp; 3092467 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc.† | 338 | &nbsp;&nbsp; 461941 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 4912 | &nbsp;&nbsp; 2025561 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 13099 | &nbsp;&nbsp; 5144501 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.† | 1 | &nbsp;&nbsp; 154 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 9717 | &nbsp;&nbsp; 828860 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 2359 | &nbsp;&nbsp; 1126635 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | 1072 | &nbsp;&nbsp; 178499 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 1 | &nbsp;&nbsp; 99 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.† | 229 | &nbsp;&nbsp; 30285 |
| &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.† | 8698 | &nbsp;&nbsp; 9481 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp. | 319 | &nbsp;&nbsp; 45646 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 3094 | &nbsp;&nbsp; 553702 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 42344 | &nbsp;&nbsp; 7502933 |
| &nbsp;&nbsp;&nbsp; NVR, Inc.† | 3 | &nbsp;&nbsp; 22553 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 1 | &nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 163 | &nbsp;&nbsp; 23700 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 453 | &nbsp;&nbsp; 42528 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | 1 | &nbsp;&nbsp; 232 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 238 | &nbsp;&nbsp; 32651 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 44 | &nbsp;&nbsp; 44404 |
| &nbsp;&nbsp;&nbsp; Paychex, Inc. | 211 | &nbsp;&nbsp; 19760 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 1 | &nbsp;&nbsp; 170 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 382 | &nbsp;&nbsp; 63870 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 216 | &nbsp;&nbsp; 46151 |
| &nbsp;&nbsp;&nbsp; Public Storage | 648 | &nbsp;&nbsp; 198975 |
| &nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 237 | &nbsp;&nbsp; 32516 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 9941 | &nbsp;&nbsp; 1415201 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 579 | &nbsp;&nbsp; 148375 |
| &nbsp;&nbsp;&nbsp; Rollins, Inc. | 3322 | &nbsp;&nbsp; 202277 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 175 | &nbsp;&nbsp; 35987 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. | 156 | &nbsp;&nbsp; 48510 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. | 214 | &nbsp;&nbsp; 24422 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 1 | &nbsp;&nbsp; 203 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 136 | &nbsp;&nbsp; 49312 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 998 | &nbsp;&nbsp; 203442 |
| &nbsp;&nbsp;&nbsp; Snap-on, Inc. | 487 | &nbsp;&nbsp; 187602 |
| &nbsp;&nbsp;&nbsp; Solventum Corp.† | 1378 | &nbsp;&nbsp; 102248 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | 4374 | &nbsp;&nbsp; 562584 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 122 | &nbsp;&nbsp; 47270 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 18508 | &nbsp;&nbsp; 1279088 |
| &nbsp;&nbsp;&nbsp; T. Rowe Price Group, Inc. | 3515 | &nbsp;&nbsp; 332624 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. | 3445 | &nbsp;&nbsp; 535594 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | 1 | &nbsp;&nbsp; 236 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 2345 | &nbsp;&nbsp; 943886 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 4372 | &nbsp;&nbsp; 706778 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 1 | &nbsp;&nbsp; 217 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 561 | &nbsp;&nbsp; 42311 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 717 | &nbsp;&nbsp; 490994 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 210 | &nbsp;&nbsp; 55646 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp.† | 571 | &nbsp;&nbsp; 287727 |
| &nbsp;&nbsp;&nbsp; Universal Health Services, Inc., Class B | 4335 | &nbsp;&nbsp; 893443 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc., Class A† | 398 | &nbsp;&nbsp; $72440 |
| &nbsp;&nbsp;&nbsp; VeriSign, Inc. | 1368 | &nbsp;&nbsp; 311822 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 1 | &nbsp;&nbsp; 208 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 5894 | &nbsp;&nbsp; 295525 |
| &nbsp;&nbsp;&nbsp; Versant Media Group, Inc.† | 1120 | &nbsp;&nbsp; 37318 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 334 | &nbsp;&nbsp; 85133 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc. | 17059 | &nbsp;&nbsp; 515352 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 3762 | &nbsp;&nbsp; 1204367 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 11841 | &nbsp;&nbsp; 1515056 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 1653 | &nbsp;&nbsp; 339939 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 48 | &nbsp;&nbsp; 54947 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 1014 | &nbsp;&nbsp; 170514 |
| &nbsp;&nbsp;&nbsp; Zoom Communications, Inc.† | 4857 | &nbsp;&nbsp; 359127 |
|  |  | &nbsp;&nbsp; 82634515 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $103,106,194)<br>|  | &nbsp;&nbsp; 146028978 |
| **CORPORATE BONDS & NOTES — 16.0%** | **CORPORATE BONDS & NOTES — 16.0%** | **CORPORATE BONDS & NOTES — 16.0%** |
| **Argentina — 0.4%** | **Argentina — 0.4%** | **Argentina — 0.4%** |
| &nbsp;&nbsp;&nbsp; Pluspetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 05/18/2031\* | $180000 | &nbsp;&nbsp; 183915 |
| &nbsp;&nbsp;&nbsp; YPF Energia Electrica SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/16/2032\* | 220000 | &nbsp;&nbsp; 225524 |
| &nbsp;&nbsp;&nbsp; YPF SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 07/21/2027\* | 320000 | &nbsp;&nbsp; 324865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 01/17/2034\* | 370000 | &nbsp;&nbsp; 379643 |
|  |  | &nbsp;&nbsp; 1113947 |
| **Bermuda — 0.3%** | **Bermuda — 0.3%** | **Bermuda — 0.3%** |
| &nbsp;&nbsp;&nbsp; Aircastle, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/2026\*(3) | 470000 | &nbsp;&nbsp; 469717 |
| &nbsp;&nbsp;&nbsp; Geopark, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 01/31/2030\*# | 310000 | &nbsp;&nbsp; 294627 |
|  |  | &nbsp;&nbsp; 764344 |
| **Brazil — 0.2%** | **Brazil — 0.2%** | **Brazil — 0.2%** |
| &nbsp;&nbsp;&nbsp; Samarco Mineracao SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 06/30/2031\*(4) | 220000 | &nbsp;&nbsp; 220742 |
| &nbsp;&nbsp;&nbsp; Vale Overseas, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/28/2054# | 270000 | &nbsp;&nbsp; 283203 |
|  |  | &nbsp;&nbsp; 503945 |
| **Canada — 0.5%** | **Canada — 0.5%** | **Canada — 0.5%** |
| &nbsp;&nbsp;&nbsp; Air Canada Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 09/15/2028\* | 189361 | &nbsp;&nbsp; 187519 |
| &nbsp;&nbsp;&nbsp; ERO Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/2030\* | 355000 | &nbsp;&nbsp; 359544 |
| &nbsp;&nbsp;&nbsp; Taseko Mines, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 05/01/2030\* | 160000 | &nbsp;&nbsp; 169382 |
| &nbsp;&nbsp;&nbsp; Teine Energy, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/15/2029\* | 575000 | &nbsp;&nbsp; 576056 |
|  |  | &nbsp;&nbsp; 1292501 |
| **Cayman Islands — 0.5%** | **Cayman Islands — 0.5%** | **Cayman Islands — 0.5%** |
| &nbsp;&nbsp;&nbsp; AS Mileage Plan IP, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 10/20/2029\* | 415000 | &nbsp;&nbsp; 421956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 10/20/2031\* | 415000 | &nbsp;&nbsp; 423173 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 04/15/2029\* | 300000 | &nbsp;&nbsp; 299200 |
|  |  | &nbsp;&nbsp; 1144329 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Colombia — 0.2%** | **Colombia — 0.2%** | **Colombia — 0.2%** | **Colombia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ecopetrol SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/01/2032 |  | $320000 | &nbsp;&nbsp; $326485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 01/13/2033 |  | 200000 | &nbsp;&nbsp; 212240 |
|  |  |  | &nbsp;&nbsp; 538725 |
| **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** | **Ireland — 0.3%** |
| &nbsp;&nbsp;&nbsp; Flutter Treasury DAC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/04/2031\* |  | 710000 | &nbsp;&nbsp; 707965 |
| **Japan — 0.3%** | **Japan — 0.3%** | **Japan — 0.3%** | **Japan — 0.3%** |
| &nbsp;&nbsp;&nbsp; Kioxia Holdings Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 07/24/2033\* |  | 640000 | &nbsp;&nbsp; 674470 |
| **Luxembourg — 0.2%** | **Luxembourg — 0.2%** | **Luxembourg — 0.2%** | **Luxembourg — 0.2%** |
| &nbsp;&nbsp;&nbsp; Adecoagro SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/29/2032\* |  | 90000 | &nbsp;&nbsp; 87075 |
| &nbsp;&nbsp;&nbsp; PRIO Luxembourg Holding SARL |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2030\* |  | 320000 | &nbsp;&nbsp; 315363 |
|  |  |  | &nbsp;&nbsp; 402438 |
| **Mexico — 0.5%** | **Mexico — 0.5%** | **Mexico — 0.5%** | **Mexico — 0.5%** |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/24/2027\*(3) |  | 400000 | &nbsp;&nbsp; 399510 |
| &nbsp;&nbsp;&nbsp; Grupo Aeromexico SAB de CV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 11/15/2029\* |  | 200000 | &nbsp;&nbsp; 204750 |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 02/12/2028 |  | 430000 | &nbsp;&nbsp; 429954 |
| &nbsp;&nbsp;&nbsp; Trust 2401 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.70%, 01/23/2032\* |  | 200000 | &nbsp;&nbsp; 220550 |
|  |  |  | &nbsp;&nbsp; 1254764 |
| **Netherlands — 0.2%** | **Netherlands — 0.2%** | **Netherlands — 0.2%** | **Netherlands — 0.2%** |
| &nbsp;&nbsp;&nbsp; Yinson Boronia Production BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.95%, 07/31/2042\* |  | 369155 | &nbsp;&nbsp; 406535 |
| **Panama — 0.6%** | **Panama — 0.6%** | **Panama — 0.6%** | **Panama — 0.6%** |
| &nbsp;&nbsp;&nbsp; AES Panama Generation Holdings SRL |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 05/31/2030 |  | 1469343 | &nbsp;&nbsp; 1398815 |
| **Peru — 0.2%** | **Peru — 0.2%** | **Peru — 0.2%** | **Peru — 0.2%** |
| &nbsp;&nbsp;&nbsp; Banco de Credito del Peru S.A. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/2037\* |  | 250000 | &nbsp;&nbsp; 251725 |
| &nbsp;&nbsp;&nbsp; Credicorp Capital Sociedad Titulizadora SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.70%, 03/05/2045\* | PEN | 500000 | &nbsp;&nbsp; 161326 |
| &nbsp;&nbsp;&nbsp; Petroleos del Peru SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/19/2047\* |  | 310000 | &nbsp;&nbsp; 197470 |
|  |  |  | &nbsp;&nbsp; 610521 |
| **Switzerland — 0.4%** | **Switzerland — 0.4%** | **Switzerland — 0.4%** | **Switzerland — 0.4%** |
| &nbsp;&nbsp;&nbsp; UBS Group AG |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.54%, 08/12/2033\* |  | 850000 | &nbsp;&nbsp; 939422 |
| **United Kingdom — 0.2%** | **United Kingdom — 0.2%** | **United Kingdom — 0.2%** | **United Kingdom — 0.2%** |
| &nbsp;&nbsp;&nbsp; Anglian Water Osprey Financing PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 07/31/2028 | GBP | 270000 | &nbsp;&nbsp; 339715 |
| &nbsp;&nbsp;&nbsp; Avianca Midco 2 PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 01/28/2031\* |  | 200000 | &nbsp;&nbsp; 202000 |
|  |  |  | &nbsp;&nbsp; 541715 |
| **United States — 11.0%** | **United States — 11.0%** | **United States — 11.0%** | **United States — 11.0%** |
| &nbsp;&nbsp;&nbsp; Allegiant Travel Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 08/15/2027\* |  | 332000 | &nbsp;&nbsp; 335080 |
| &nbsp;&nbsp;&nbsp; American Express Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.55%, 09/15/2026(3) |  | 290000 | &nbsp;&nbsp; 288178 |
| &nbsp;&nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 08/15/2033\* |  | 130000 | &nbsp;&nbsp; 136113 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; Antares Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/15/2027\* | $1547000 | &nbsp;&nbsp; $1516451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/01/2034\* | 90000 | &nbsp;&nbsp; 91407 |
| &nbsp;&nbsp;&nbsp; Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 06/15/2028 | 980000 | &nbsp;&nbsp; 934668 |
| &nbsp;&nbsp;&nbsp; Bain Capital Specialty Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 03/10/2026 | 607000 | &nbsp;&nbsp; 606660 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/20/2026(3) | 275000 | &nbsp;&nbsp; 270887 |
| &nbsp;&nbsp;&nbsp; Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/30/2028 | 983000 | &nbsp;&nbsp; 920783 |
| &nbsp;&nbsp;&nbsp; Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/2033\* | 210000 | &nbsp;&nbsp; 213399 |
| &nbsp;&nbsp;&nbsp; Blue Owl Capital Corp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 01/15/2027 | 1095000 | &nbsp;&nbsp; 1067365 |
| &nbsp;&nbsp;&nbsp; Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/10/2031 | 1027000 | &nbsp;&nbsp; 912852 |
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 07/15/2033\* | 200000 | &nbsp;&nbsp; 187064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 01/15/2034\* | 200000 | &nbsp;&nbsp; 196037 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 09/01/2026#(3) | 285000 | &nbsp;&nbsp; 283099 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 06/01/2026(3) | 855000 | &nbsp;&nbsp; 852099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 04/01/2048 | 320000 | &nbsp;&nbsp; 278524 |
| &nbsp;&nbsp;&nbsp; Citadel Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/10/2030\* | 1000000 | &nbsp;&nbsp; 1025992 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.15%, 11/15/2026#(3) | 260000 | &nbsp;&nbsp; 259347 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/15/2032\* | 218000 | &nbsp;&nbsp; 221406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/15/2034\* | 642000 | &nbsp;&nbsp; 658866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cogent Communications Group LLC/Cogent Finance, <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/01/2032\*# | 450000 | &nbsp;&nbsp; 398664 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 12/15/2028\* | 383000 | &nbsp;&nbsp; 400179 |
| &nbsp;&nbsp;&nbsp; Deluxe Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 09/15/2029\* | 380000 | &nbsp;&nbsp; 398591 |
| &nbsp;&nbsp;&nbsp; DISH Network Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 11/15/2027\* | 830000 | &nbsp;&nbsp; 859279 |
| &nbsp;&nbsp;&nbsp; Enact Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/28/2029 | 900000 | &nbsp;&nbsp; 944452 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 08/01/2029\* | 220000 | &nbsp;&nbsp; 231098 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 03/03/2032 | 300000 | &nbsp;&nbsp; 299165 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/06/2029 | 330000 | &nbsp;&nbsp; 335005 |
| &nbsp;&nbsp;&nbsp; Freedom Mtg. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 04/01/2032\* | 180000 | &nbsp;&nbsp; 181350 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP/Genesis Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/15/2033 | 155000 | &nbsp;&nbsp; 163878 |
| &nbsp;&nbsp;&nbsp; Getty Images, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 11/15/2030\* | 270000 | &nbsp;&nbsp; 238993 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Private Credit Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/23/2028\* | 270000 | &nbsp;&nbsp; 268260 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; Golub Capital BDC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/24/2026 | $934000 | &nbsp;&nbsp; $922864 |
| &nbsp;&nbsp;&nbsp; Golub Capital Private Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 05/01/2030 | 380000 | &nbsp;&nbsp; 379610 |
| &nbsp;&nbsp;&nbsp; Hercules Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, 09/16/2026 | 484000 | &nbsp;&nbsp; 478500 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 02/15/2036 | 390000 | &nbsp;&nbsp; 383563 |
| &nbsp;&nbsp;&nbsp; JH North America Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/31/2032\* | 150000 | &nbsp;&nbsp; 153953 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.65%, 06/01/2026#(3) | 350000 | &nbsp;&nbsp; 348702 |
| &nbsp;&nbsp;&nbsp; Kraken Oil & Gas Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 08/15/2029\* | 350000 | &nbsp;&nbsp; 354853 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 01/15/2036\* | 110000 | &nbsp;&nbsp; 114532 |
| &nbsp;&nbsp;&nbsp; Main Street Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 07/14/2026 | 680000 | &nbsp;&nbsp; 674775 |
| &nbsp;&nbsp;&nbsp; MasTec, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/2028\* | 303000 | &nbsp;&nbsp; 302872 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 10/01/2029\* | 230000 | &nbsp;&nbsp; 226990 |
| &nbsp;&nbsp;&nbsp; Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/01/2030\* | 270000 | &nbsp;&nbsp; 276993 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/2034 | 348000 | &nbsp;&nbsp; 347998 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, 03/15/2082 | 63000 | &nbsp;&nbsp; 61970 |
| &nbsp;&nbsp;&nbsp; NFE Brazil Financing, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15.00%, 08/30/2029†(4) | 101716 | &nbsp;&nbsp; 101716 |
| &nbsp;&nbsp;&nbsp; NFE Financial Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00%, 11/15/2029\*†(5) | 1362400 | &nbsp;&nbsp; 492508 |
| &nbsp;&nbsp;&nbsp; NGL Energy Operating LLC/NGL Energy Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 02/15/2029\* | 90000 | &nbsp;&nbsp; 93273 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/2029 | 400000 | &nbsp;&nbsp; 414816 |
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC/PBF Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 03/15/2030\* | 120000 | &nbsp;&nbsp; 127365 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 09/15/2026(3) | 165000 | &nbsp;&nbsp; 163080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 11/01/2026(3) | 180000 | &nbsp;&nbsp; 180669 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 02/15/2030 | 110000 | &nbsp;&nbsp; 117454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 04/15/2033 | 110000 | &nbsp;&nbsp; 119606 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 02/01/2030\* | 600000 | &nbsp;&nbsp; 583638 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/01/2032\* | 200000 | &nbsp;&nbsp; 201511 |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 12/15/2029\*†(5) | 12900 | &nbsp;&nbsp; 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 12/15/2029\*†(5) | 344000 | &nbsp;&nbsp; 1290 |
| &nbsp;&nbsp;&nbsp; Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 04/01/2052 | 910000 | &nbsp;&nbsp; 898195 |
| &nbsp;&nbsp;&nbsp; SGUS LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.00%, 12/15/2029\*†(5) | 250100 | &nbsp;&nbsp; 6253 |
| &nbsp;&nbsp;&nbsp; SV RNO Property Owner 1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/2031\* | 190000 | &nbsp;&nbsp; 190851 |
| &nbsp;&nbsp;&nbsp; Synchrony Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/23/2027 | 380000 | &nbsp;&nbsp; 387061 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/25/2032 | 180000 | &nbsp;&nbsp; 178938 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 02/27/2032 | 240000 | &nbsp;&nbsp; 240771 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; US Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 01/15/2027#(3) | $390000 | &nbsp;&nbsp; $386408 |
| &nbsp;&nbsp;&nbsp; Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 09/30/2029\*(3) | 460000 | &nbsp;&nbsp; 402305 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 12/15/2026\*(3) | 220000 | &nbsp;&nbsp; 222634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 10/15/2026\*(3) | 185000 | &nbsp;&nbsp; 188046 |
|  |  | &nbsp;&nbsp; 26701757 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $39,991,688)<br>|  | &nbsp;&nbsp; 38996193 |
| **CONVERTIBLE BONDS & NOTES — 0.3%** | **CONVERTIBLE BONDS & NOTES — 0.3%** | **CONVERTIBLE BONDS & NOTES — 0.3%** |
| **Australia — 0.1%** | **Australia — 0.1%** | **Australia — 0.1%** |
| &nbsp;&nbsp;&nbsp; IREN, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBD, 07/01/2031\* | 389000 | &nbsp;&nbsp; 306338 |
| **United States — 0.2%** | **United States — 0.2%** | **United States — 0.2%** |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/01/2031# | 365000 | &nbsp;&nbsp; 331967 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Bonds & Notes** <br>(cost $672,013)<br>|  | &nbsp;&nbsp; 638305 |
| **ASSET BACKED SECURITIES — 4.7%** | **ASSET BACKED SECURITIES — 4.7%** | **ASSET BACKED SECURITIES — 4.7%** |
| **Cayman Islands — 1.0%** | **Cayman Islands — 1.0%** | **Cayman Islands — 1.0%** |
| &nbsp;&nbsp;&nbsp; Ares LXXV CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-75A, Class C <br>5.52%, (TSFR3M+1.85%), 01/15/2037\*<br>| 475000 | &nbsp;&nbsp; 475607 |
| &nbsp;&nbsp;&nbsp; Dryden 60 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-60A, Class D <br>6.93%, (TSFR3M+3.26%), 07/15/2031\*<br>| 840000 | &nbsp;&nbsp; 841559 |
| &nbsp;&nbsp;&nbsp; Dryden 93 CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-93A, Class D1R <br>6.67%, (TSFR3M+3.00%), 01/15/2038\*<br>| 470000 | &nbsp;&nbsp; 462522 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Eaton Vance CLO, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class D1R <br>6.57%, (TSFR3M+2.90%), 10/23/2037\*<br>| 590000 | &nbsp;&nbsp; 580398 |
|  |  | &nbsp;&nbsp; 2360086 |
| **United States — 3.7%** | **United States — 3.7%** | **United States — 3.7%** |
| &nbsp;&nbsp;&nbsp; Cogent Ipv4 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2 <br>6.65%, 04/25/2055\*<br>| 470000 | &nbsp;&nbsp; 488247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Communications LLC/Fidium Fiber <br> Finance Holdco LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2 <br>6.00%, 05/20/2055\*<br>| 340000 | &nbsp;&nbsp; 348556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class B <br>6.51%, 05/20/2055\*<br>| 800000 | &nbsp;&nbsp; 822334 |
| &nbsp;&nbsp;&nbsp; CyrusOne Data Centers Issuer I LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2A, Class A2 <br>4.50%, 05/20/2049\*<br>| 990000 | &nbsp;&nbsp; 977868 |
| &nbsp;&nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class A2A <br>5.00%, 09/15/2048\*<br>| 720000 | &nbsp;&nbsp; 721314 |
| &nbsp;&nbsp;&nbsp; Stack Infrastructure Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1A, Class A2 <br>5.00%, 03/25/2056\*<br>| 880000 | &nbsp;&nbsp; 863705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-2A, Class A2 <br>5.90%, 07/25/2048\*<br>| 1400000 | &nbsp;&nbsp; 1404796 |
| &nbsp;&nbsp;&nbsp; Vantage Data Centers Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A2 <br>5.10%, 09/15/2054\*<br>| 1440000 | &nbsp;&nbsp; 1446006 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A2 <br>5.57%, 10/20/2055\*<br>| $180000 | &nbsp;&nbsp; $184438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class B <br>6.09%, 03/20/2055\*<br>| 410000 | &nbsp;&nbsp; 418852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class B <br>6.59%, 06/20/2055\*<br>| 1205000 | &nbsp;&nbsp; 1249329 |
|  |  | &nbsp;&nbsp; 8925445 |
| &nbsp;&nbsp;&nbsp; **Total Asset Backed Securities** <br>(cost $11,248,057)<br>|  | &nbsp;&nbsp; 11285531 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.5%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 4.5%** |
| **Cayman Islands — 0.5%** | **Cayman Islands — 0.5%** | **Cayman Islands — 0.5%** |
| &nbsp;&nbsp;&nbsp; MF1 LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL19, Class A <br>5.15%, (TSFR1M+1.49%), 05/18/2042\*<br>| 430000 | &nbsp;&nbsp; 431890 |
| &nbsp;&nbsp;&nbsp; TRTX Issuer, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-FL7, Class A <br>5.11%, (TSFR1M+1.45%), 06/18/2043\*<br>| 750000 | &nbsp;&nbsp; 750468 |
|  |  | &nbsp;&nbsp; 1182358 |
| **United States — 4.0%** | **United States — 4.0%** | **United States — 4.0%** |
| &nbsp;&nbsp;&nbsp; Connecticut Avenue Securities Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R01, Class 1M2 <br>5.47%, (SOFR30A+1.80%), 01/25/2044\*<br>| 710000 | &nbsp;&nbsp; 714842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R07, Class 2M2 <br>6.92%, (SOFR30A+3.25%), 09/25/2043\*<br>| 550000 | &nbsp;&nbsp; 568524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R02, Class 1M2 <br>7.02%, (SOFR30A+3.35%), 01/25/2043\*<br>| 1080000 | &nbsp;&nbsp; 1122272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R06, Class 1M2 <br>7.52%, (SOFR30A+3.85%), 05/25/2042\*<br>| 860000 | &nbsp;&nbsp; 888001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-R03, Class 2M2 <br>7.57%, (SOFR30A+3.90%), 04/25/2043\*<br>| 420000 | &nbsp;&nbsp; 441922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R04, Class 1B1 <br>8.92%, (SOFR30A+5.25%), 03/25/2042\*<br>| 680000 | &nbsp;&nbsp; 708928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. Structured Agency <br> Credit Risk REMIC Trust FRS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-HQA2, Class M1B <br>7.02%, (SOFR30A+3.35%), 06/25/2043\*<br>| 1180000 | &nbsp;&nbsp; 1213541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HQA3, Class M1B <br>7.22%, (SOFR30A+3.55%), 08/25/2042\*<br>| 820000 | &nbsp;&nbsp; 851211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-DNA4, Class M2 <br>8.92%, (SOFR30A+5.25%), 05/25/2042\*<br>| 780000 | &nbsp;&nbsp; 818909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-HQA1, Class B1 <br>10.67%, (SOFR30A+7.00%), 03/25/2042\*<br>| 710000 | &nbsp;&nbsp; 752169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mtg, Assoc. Multifamily Connecticut <br> Avenue Securities Trust FRS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-01, Class M10 <br>7.03%, (SOFR30A+3.36%), 10/25/2049\*<br>| 600274 | &nbsp;&nbsp; 609456 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/20/2055 | 520737 | &nbsp;&nbsp; 532088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 03/20/2055 | 538775 | &nbsp;&nbsp; 550094 |
|  |  | &nbsp;&nbsp; 9771957 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(cost $11,072,923)<br>|  | &nbsp;&nbsp; 10954315 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 0.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 0.6%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 0.6%** |
| **United States — 0.6%** | **United States — 0.6%** | **United States — 0.6%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80%, (3 UTBMM+0.16%), 04/30/2027 <br>(cost $1,500,457)<br>| 1500000 | &nbsp;&nbsp; 1501786 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS — 7.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 7.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 7.2%** | **FOREIGN GOVERNMENT OBLIGATIONS — 7.2%** |
| **Argentina — 0.8%** | **Argentina — 0.8%** | **Argentina — 0.8%** | **Argentina — 0.8%** |
| &nbsp;&nbsp;&nbsp; Provincia de Entre Rios Argentina |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.55%, 03/04/2033\* |  | $140000 | &nbsp;&nbsp; $137054 |
| &nbsp;&nbsp;&nbsp; Republic of Argentina |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 07/09/2030(6) |  | 990000 | &nbsp;&nbsp; 839025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/09/2035(6) |  | 1260000 | &nbsp;&nbsp; 949788 |
|  |  |  | &nbsp;&nbsp; 1925867 |
| **Brazil — 2.6%** | **Brazil — 2.6%** | **Brazil — 2.6%** | **Brazil — 2.6%** |
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie F |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 01/01/2035 | BRL | 6190000 | &nbsp;&nbsp; 1027857 |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F <br>10.00%, 01/01/2033<br>| BRL | 30570000 | &nbsp;&nbsp; 5215135 |
|  |  |  | &nbsp;&nbsp; 6242992 |
| **Chile — 0.5%** | **Chile — 0.5%** | **Chile — 0.5%** | **Chile — 0.5%** |
| &nbsp;&nbsp;&nbsp; Republic of Chile |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 01/31/2027 |  | 1326000 | &nbsp;&nbsp; 1308629 |
| **Colombia — 0.6%** | **Colombia — 0.6%** | **Colombia — 0.6%** | **Colombia — 0.6%** |
| &nbsp;&nbsp;&nbsp; Colombian TES |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.50%, 07/25/2046 | COP | 5170000000 | &nbsp;&nbsp; 1155823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.25%, 02/09/2033 | COP | 1190000000 | &nbsp;&nbsp; 307278 |
|  |  |  | &nbsp;&nbsp; 1463101 |
| **Ecuador — 0.2%** | **Ecuador — 0.2%** | **Ecuador — 0.2%** | **Ecuador — 0.2%** |
| &nbsp;&nbsp;&nbsp; Republic of Ecuador |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 01/29/2034\* |  | 400000 | &nbsp;&nbsp; 402600 |
| **Egypt — 0.2%** | **Egypt — 0.2%** | **Egypt — 0.2%** | **Egypt — 0.2%** |
| &nbsp;&nbsp;&nbsp; Arab Republic of Egypt |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 05/29/2032\* |  | 260000 | &nbsp;&nbsp; 266722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.45%, 02/04/2033\*# |  | 200000 | &nbsp;&nbsp; 224880 |
|  |  |  | &nbsp;&nbsp; 491602 |
| **Mexico — 2.3%** | **Mexico — 2.3%** | **Mexico — 2.3%** | **Mexico — 2.3%** |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/26/2033 | MXN | 25400000 | &nbsp;&nbsp; 1406336 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 07/31/2053 | MXN | 84500000 | &nbsp;&nbsp; 4337801 |
|  |  |  | &nbsp;&nbsp; 5744137 |
| &nbsp;&nbsp;&nbsp; **Total Foreign Government Obligations** <br>(cost $16,619,623)<br>|  |  | &nbsp;&nbsp; 17578928 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constellation Software, Inc.#†(1) <br>Expires 03/31/2040 <br>(cost $0)<br>|  | 100 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $184,210,955)<br>|  |  | &nbsp;&nbsp; 226984036 |
| **SHORT-TERM INVESTMENTS — 6.8%** | **SHORT-TERM INVESTMENTS — 6.8%** | **SHORT-TERM INVESTMENTS — 6.8%** | **SHORT-TERM INVESTMENTS — 6.8%** |
| **Sovereign — 2.8%** | **Sovereign — 2.8%** | **Sovereign — 2.8%** | **Sovereign — 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canadian Treasury Bill <br>2.15%, 04/22/2026<br>| CAD | 5500000 | &nbsp;&nbsp; 4019046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Egypt Treasury Bill <br>23.33%, 04/07/2026<br>| EGP | 134000000 | &nbsp;&nbsp; 2724280 |
|  |  |  | &nbsp;&nbsp; 6743326 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Unaffiliated Investment Companies — 4.0%** | **Unaffiliated Investment Companies — 4.0%** | **Unaffiliated Investment Companies — 4.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class 3.63%(7)<br>| 7785010 | &nbsp;&nbsp; $7785010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio 3.69%(7)(8)<br>| 2015388 | &nbsp;&nbsp; 2015388 |
|  |  | &nbsp;&nbsp; 9800398 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $16,523,370)<br>|  | &nbsp;&nbsp; 16543724 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $200,734,325)<br>| 100.2<br> %<br>| &nbsp;&nbsp; 243527760 |
| Other assets less liabilities | (0.2)<br>| &nbsp;&nbsp; (417248)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $243110512 |

---

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

---

| | |
|:---|:---|
| # | The security or a portion thereof is out on loan. |
| † | Non-income producing security |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The Global Strategy Fund has no right to demand registration of <br> these securities. At February 28, 2026, the aggregate value of these securities was <br> $44,676,600 representing 18.4% of net assets.<br>|
| (1) | Securities classified as Level 3 (see Note 1). |
| (2) | &nbsp;&nbsp; Denotes a restricted security that: (a) cannot be offered for public sale without first being <br> registered, or being able to take advantage of an exemption from registration, under the <br> Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual <br> restriction on public sales; or (c) is otherwise subject to a restriction on sales by <br> operation of applicable law. Restricted securities are valued pursuant to Note 1. Certain <br> restricted securities held by the Fund may not be sold except in exempt transactions or <br> in a public offering registered under the 1933 Act. The Fund has no right to demand <br> registration of these securities. The risk of investing in certain restricted securities is <br> greater than the risk of investing in the securities of widely held, publicly traded <br> companies. To the extent applicable, lack of a secondary market and resale restrictions <br> may result in the inability of a Fund to sell a security at a fair price and may substantially <br> delay the sale of the security. In addition, certain restricted securities may exhibit greater <br> price volatility than securities for which secondary markets exist. As of February 28, <br> 2026, the Fund held the following restricted securities:<br>|

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| MMC Norilsk Nickel PJSC | 01/20/20, 04/24/20, <br>12/11/20<br>| 56300 | $158889 | $0 | $0.00 | 0.0<br> %<br>|

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) Perpetual maturity - maturity date reflects the next call date.

&nbsp;&nbsp;&nbsp;&nbsp;(4) PIK ("Payment-in-Kind") security – Income may be paid in additional securities and/or cash at the discretion of the issuer.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Security in default

&nbsp;&nbsp;&nbsp;&nbsp;(6) "Step-down" security where the rate decreases ("steps-down") at a predetermined rate. The rate reflected is as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(7) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(8) At February 28, 2026, the Fund had loaned securities with a total value of $6,173,582. This was secured by collateral of $2,015,388, which was received in cash and subsequently invested in short-term investments currently valued at $2,015,388 as reported in the Portfolio of Investments. Additional collateral of $4,382,291 was
 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components
 of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 4.88% | 03/31/2026 to 05/15/2055 | $4382291 |

---

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

3 UTBMM—US Treasury 3 Month Bill Money Market Yield <br> ADR—American Depositary Receipt <br> BR—Bearer Shares

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| |
|:---|
| CLO—Collateralized Loan Obligation |
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| TSFR3M—Term Secured Overnight Financing Rate 3 Month |
| TSX—Toronto Stock Exchange |
| XAMS—Euronext Amsterdam Stock Exchange  |

---

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

---

| |
|:---|
| BRL—Brazilian Real |
| CAD—Canadian Dollar |
| COP—Columbian Peso |
| EGP—Egyptian Pound |
| GBP—British Pound |
| MXN—Mexican Peso |
| PEN—Peruvian Sol |

---

The rates shown on FRS and/or VRS are the current interest rates at February 28, 2026 and unless noted otherwise, the dates shown are the original maturity dates.

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

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** | **Credit Default Swaps - Seller(1)** |
| **Counterparty (OTC)/** <br>**Centrally cleared**<br>| **Reference** <br>**obligation**<br>| **Implied** <br>**credit** <br>**spread(2)**<br>| **Notional** <br>**amount(3)**<br>| **Currency** | **USD** <br>**notional** <br>**amount(3)**<br>| **Received** <br>**fixed** <br>**rate**<br>| **Fixed** <br>**payment** <br>**frequency**<br>| **Maturity** <br>**date**<br>| **Upfront** <br>**payment paid** <br>**(received)**<br>| **Unrealized** <br>**appreciation** <br>**(depreciation)**<br>| **Value(4)** |
| JPMorgan Chase Bank, N.A. | Republic of Panama | 0.678 | 490000 | USD | 490000 | 1.000<br> %<br>| Quarterly | Sep 2027 | $(7589)<br>| $11661 | $4072 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) If the Fund is a seller of protection and a credit event occurs, as defined under
 the terms of that particular swap agreement, the Fund will either (i) pay to the buyer
 of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation
 or (ii) pay a net settlement amount in the form of cash or securities equal to the
 notional amount of the swap less the recovery value of the referenced obligation.

&nbsp;&nbsp;&nbsp;&nbsp;(2) Implied credit spreads, represented in absolute terms, utilized in determining the
 market value of credit default swap agreements on corporate issues, credit indices
 or sovereign issues of an emerging country as of period end serve as an indicator of the current status of the
 payment/performance risk and represent the likelihood or risk of default for the credit
 derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling
 protection and may include upfront payments required to be made to enter into the
 agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as "Defaulted" indicates a credit event has occurred for the referenced entity or obligation.

&nbsp;&nbsp;&nbsp;&nbsp;(3) The maximum potential amount the Fund could be required to make as a seller of credit
 protection or receive as a buyer of credit protection if a credit event occurs as
 defined under the terms of that particular swap agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(4) The quoted market prices and resulting values for credit default swap agreements on
 asset-backed securities and credit indices serve as an indicator of the current status
 of the payment/ performance risk and represent the likelihood of an expected liability (or profit)
 for the credit derivative should the notional amount of the swap agreement have been
 closed/sold as of the period end. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the
 agreement.

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

USD—United States Dollar<br>

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 19 | Long | S&P 500 E-Mini Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $6554534 | &nbsp;&nbsp;&nbsp;&nbsp; $6544550 | &nbsp;&nbsp;&nbsp;&nbsp; $(9984)<br>|
| 30 | Short | U.S. Treasury 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3405939 | &nbsp;&nbsp;&nbsp;&nbsp; 3414375 | &nbsp;&nbsp;&nbsp;&nbsp; (8436)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(18420)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **In** <br>**Exchange For** | &nbsp;&nbsp; **In** <br>**Exchange For** | **Delivery** <br>**Date**<br>| **Unrealized** <br>**Appreciation**<br>| **Unrealized** <br>**(Depreciation)**<br>|
| Citibank, N.A. | MXN | &nbsp;&nbsp; 16400000 | USD | &nbsp;&nbsp; 947227 | &nbsp;&nbsp; 05/13/2026 | &nbsp;&nbsp; $798 | &nbsp;&nbsp; $— |
| HSBC Bank PLC | CAD | &nbsp;&nbsp; 5260000 | USD | &nbsp;&nbsp; 3816473 | &nbsp;&nbsp; 04/21/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (47827)<br>|
|  | GBP | &nbsp;&nbsp; 120000 | USD | &nbsp;&nbsp; 161117 | &nbsp;&nbsp; 04/17/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (622)<br>|
|  | MXN | &nbsp;&nbsp; 82900000 | USD | &nbsp;&nbsp; 4764697 | &nbsp;&nbsp; 05/13/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (19385)<br>|
|  | USD | &nbsp;&nbsp; 2184903 | CLP | &nbsp;&nbsp; 1880000000 | &nbsp;&nbsp; 05/29/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (31286)<br>|

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** |
| **Counterparty** | &nbsp;&nbsp; **Contract to**<br> **Deliver** | &nbsp;&nbsp; **Contract to**<br> **Deliver** | &nbsp;&nbsp; **In**<br> **Exchange For** | &nbsp;&nbsp; **In**<br> **Exchange For** | **Delivery**<br> **Date**<br>| **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **(Depreciation)**<br>|
|  | USD | &nbsp;&nbsp; 2290384 | CLP | &nbsp;&nbsp; 1990000000 | &nbsp;&nbsp; 06/17/2026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(10871)<br>|
|  | USD | &nbsp;&nbsp; 1742498 | EGP | &nbsp;&nbsp; 90000000 | &nbsp;&nbsp; 06/02/2026 | &nbsp;&nbsp; 44841 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 44841 | &nbsp;&nbsp; (109991)<br>|
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp; $45639 | &nbsp;&nbsp; $(109991)<br>|

---

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

---

| |
|:---|
| CAD—Canadian Dollar |
| CLP—Chilean Peso |
| EGP—Egyptian Pound |
| GBP—British Pound |
| MXN—Mexican Peso |
| USD—United States Dollar |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Semiconductors | 10.2<br> %<br>|
| Internet | 7.2 |
| Foreign Government Obligations | 7.2 |
| Short-Term Investments | 6.8 |
| Banks | 6.4 |
| Diversified Financial Services | 5.0 |
| Other Asset Backed Securities | 4.7 |
| Collateralized Mortgage Obligations | 4.5 |
| Oil & Gas | 3.7 |
| Software | 3.7 |
| Investment Companies | 3.5 |
| Pharmaceuticals | 3.4 |
| Computers | 2.7 |
| Insurance | 2.4 |
| Electric | 2.4 |
| Retail | 2.1 |
| Aerospace/Defense | 1.7 |
| Commercial Services | 1.7 |
| Auto Manufacturers | 1.4 |
| Mining | 1.4 |
| Biotechnology | 1.3 |
| Iron/Steel | 1.2 |
| Healthcare-Services | 1.0 |
| Building Materials | 1.0 |
| Chemicals | 0.9 |
| Food | 0.9 |
| REITS | 0.9 |
| Airlines | 0.8 |
| Real Estate | 0.8 |
| Agriculture | 0.7 |
| Healthcare-Products | 0.7 |
| U.S. Government & Agency Obligations | 0.6 |
| Media | 0.6 |
| Pipelines | 0.5 |
| Distribution/Wholesale | 0.5 |
| Cosmetics/Personal Care | 0.5 |
| Private Equity | 0.5 |
| Engineering & Construction | 0.5 |
| Transportation | 0.4 |
| Beverages | 0.4 |
| Electronics | 0.4 |
| Apparel | 0.4 |
| Telecommunications | 0.3 |
| Electrical Components & Equipment | 0.3 |
| Machinery-Diversified | 0.3 |
| Entertainment | 0.3 |
| Water | 0.2 |
| Oil & Gas Services | 0.2 |

---

------

**VALIC Company I Global Strategy Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Machinery-Construction & Mining | 0.1<br> %<br>|
| Shipbuilding | 0.1 |
| Diversified Finan Serv | 0.1 |
| Energy-Alternate Sources | 0.1 |
| Gas | 0.1 |
| Miscellaneous Manufacturing | 0.1 |
| Hand/Machine Tools | 0.1 |
| Home Furnishings | 0.1 |
| Holding Companies-Diversified | 0.1 |
| Household Products/Wares | 0.1 |
|  | 100.2<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Egypt | &nbsp;&nbsp; $— | &nbsp;&nbsp; $112836 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $112836 |
| &nbsp;&nbsp;&nbsp; Qatar | &nbsp;&nbsp; — | &nbsp;&nbsp; 29343 | &nbsp;&nbsp; — | &nbsp;&nbsp; 29343 |
| &nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp; — | &nbsp;&nbsp; 122967 | &nbsp;&nbsp; — | &nbsp;&nbsp; 122967 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; — | &nbsp;&nbsp; 4172058 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4172058 |
| &nbsp;&nbsp;&nbsp; Other Countries | &nbsp;&nbsp; 141591774 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 141591774 |
| Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 38996193 | &nbsp;&nbsp; — | &nbsp;&nbsp; 38996193 |
| Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 638305 | &nbsp;&nbsp; — | &nbsp;&nbsp; 638305 |
| Asset Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 11285531 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11285531 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 10954315 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10954315 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 1501786 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1501786 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 17578928 | &nbsp;&nbsp; — | &nbsp;&nbsp; 17578928 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Sovereign | &nbsp;&nbsp; — | &nbsp;&nbsp; 6743326 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6743326 |
| &nbsp;&nbsp;&nbsp; Other Short-Term Investments | &nbsp;&nbsp; 9800398 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9800398 |
| **Total Investments at Value** | &nbsp;&nbsp; $151392172 | &nbsp;&nbsp; $92135588 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $243527760 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11661 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11661 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 45639 | &nbsp;&nbsp; — | &nbsp;&nbsp; 45639 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $— | &nbsp;&nbsp; $57300 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $57300 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $18420 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $18420 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 109991 | &nbsp;&nbsp; — | &nbsp;&nbsp; 109991 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $18420 | &nbsp;&nbsp; $109991 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $128411 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Government Securities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES — 5.9%** | **CORPORATE BONDS & NOTES — 5.9%** | **CORPORATE BONDS & NOTES — 5.9%** |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 10/29/2030 | $400000 | &nbsp;&nbsp; $399444 |
| **Banks — 3.3%** | **Banks — 3.3%** | **Banks — 3.3%** |
| &nbsp;&nbsp;&nbsp; AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.61%, 09/13/2029\* | 500000 | &nbsp;&nbsp; 529225 |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 04/25/2034 | 500000 | &nbsp;&nbsp; 518922 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/11/2031 | 400000 | &nbsp;&nbsp; 403054 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 10/21/2031 | 400000 | &nbsp;&nbsp; 400258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 01/21/2032 | 385000 | &nbsp;&nbsp; 387377 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 11/06/2031 | 500000 | &nbsp;&nbsp; 505729 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.36%, 10/22/2031 | 400000 | &nbsp;&nbsp; 400941 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Private Bank, N.A. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 11/19/2031 | 885000 | &nbsp;&nbsp; 890447 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 04/15/2031 | 500000 | &nbsp;&nbsp; 524978 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.08%, 09/15/2029 | 400000 | &nbsp;&nbsp; 400107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 01/23/2030 | 405000 | &nbsp;&nbsp; 406435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/23/2031 | 400000 | &nbsp;&nbsp; 414094 |
|  |  | &nbsp;&nbsp; 5781567 |
| **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** | **Diversified Financial Services — 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/23/2028 | 500000 | &nbsp;&nbsp; 498974 |
| &nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/01/2029\* | 500000 | &nbsp;&nbsp; 520168 |
|  |  | &nbsp;&nbsp; 1019142 |
| **Electric — 0.2%** | **Electric — 0.2%** | **Electric — 0.2%** |
| &nbsp;&nbsp;&nbsp; Pacific Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.10%, 01/15/2029 | 400000 | &nbsp;&nbsp; 420096 |
| **Internet — 0.5%** | **Internet — 0.5%** | **Internet — 0.5%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 02/15/2031 | 205000 | &nbsp;&nbsp; 206350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 02/15/2033 | 205000 | &nbsp;&nbsp; 206807 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 11/20/2035 | 215000 | &nbsp;&nbsp; 216230 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/15/2035 | 224000 | &nbsp;&nbsp; 226230 |
|  |  | &nbsp;&nbsp; 855617 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.93%, 08/15/2030\* | 300000 | &nbsp;&nbsp; 320470 |
| **Semiconductors — 0.2%** | **Semiconductors — 0.2%** | **Semiconductors — 0.2%** |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.75%, 02/15/2029 | 400000 | &nbsp;&nbsp; 417999 |
| **Telecommunications — 0.7%** | **Telecommunications — 0.7%** | **Telecommunications — 0.7%** |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 08/15/2030 | 400000 | &nbsp;&nbsp; 410127 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; T-Mobile USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/15/2030 | $850000 | &nbsp;&nbsp; $843466 |
|  |  | &nbsp;&nbsp; 1253593 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $10,408,294)<br>|  | &nbsp;&nbsp; 10467928 |
| **ASSET BACKED SECURITIES — 7.7%** | **ASSET BACKED SECURITIES — 7.7%** | **ASSET BACKED SECURITIES — 7.7%** |
| **Auto Loan Receivables — 1.8%** | **Auto Loan Receivables — 1.8%** | **Auto Loan Receivables — 1.8%** |
| &nbsp;&nbsp;&nbsp; Exeter Select Automobile Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class A3 <br>4.69%, 04/15/2030<br>| 910000 | &nbsp;&nbsp; 919192 |
| &nbsp;&nbsp;&nbsp; GLS Auto Receivables Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A3 <br>4.75%, 01/16/2029\*<br>| 1000000 | &nbsp;&nbsp; 1006139 |
| &nbsp;&nbsp;&nbsp; GLS Auto Select Receivables Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class C <br>5.69%, 03/15/2030\*<br>| 270000 | &nbsp;&nbsp; 278037 |
| &nbsp;&nbsp;&nbsp; M&T Bank RV Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-1A, Class A <br>4.35%, 01/15/2046\*<br>| 370000 | &nbsp;&nbsp; 373265 |
| &nbsp;&nbsp;&nbsp; Stellantis Financial Underwritten Enhanced Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AA, Class A3 <br>4.47%, 07/20/2028\*<br>| 615000 | &nbsp;&nbsp; 619242 |
|  |  | &nbsp;&nbsp; 3195875 |
| **Home Equity — 1.3%** | **Home Equity — 1.3%** | **Home Equity — 1.3%** |
| &nbsp;&nbsp;&nbsp; COOPR Residential Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES3, Class A1A <br>4.84%, 09/25/2060\*<br>| 284619 | &nbsp;&nbsp; 285297 |
| &nbsp;&nbsp;&nbsp; RCKT Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2026-CES2, Class A1A <br>4.76%, 02/25/2056\*<br>| 527096 | &nbsp;&nbsp; 527569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES10, Class A1A <br>4.89%, 11/25/2055\*<br>| 660814 | &nbsp;&nbsp; 664780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-CES12, Class A1A <br>5.03%, 11/25/2055\*<br>| 818348 | &nbsp;&nbsp; 823116 |
|  |  | &nbsp;&nbsp; 2300762 |
| **Other Asset Backed Securities — 4.6%** | **Other Asset Backed Securities — 4.6%** | **Other Asset Backed Securities — 4.6%** |
| &nbsp;&nbsp;&nbsp; AMSR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR2, Class A <br>1.53%, 08/17/2038\*<br>| 983146 | &nbsp;&nbsp; 970230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class A <br>1.95%, 06/17/2038\*<br>| 300000 | &nbsp;&nbsp; 286280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR1, Class A <br>3.66%, 06/17/2042\*<br>| 1065000 | &nbsp;&nbsp; 1036171 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-A, Class A <br>5.25%, 12/19/2050\*<br>| 1120827 | &nbsp;&nbsp; 1147552 |
| &nbsp;&nbsp;&nbsp; Aqua Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-A, Class A <br>4.81%, 04/18/2050\*<br>| 240024 | &nbsp;&nbsp; 243812 |
| &nbsp;&nbsp;&nbsp; Bridge Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR1, Class A <br>4.05%, 09/17/2042\*<br>| 853680 | &nbsp;&nbsp; 832740 |
| &nbsp;&nbsp;&nbsp; FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-SFR1, Class A <br>1.54%, 08/17/2038\*<br>| 1120556 | &nbsp;&nbsp; 1106482 |
| &nbsp;&nbsp;&nbsp; GreenSky Home Improvement Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A2 <br>4.59%, 12/27/2060\*<br>| 170000 | &nbsp;&nbsp; 171938 |

---

------

**VALIC Company I Government Securities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** | **ASSET BACKED SECURITIES (continued)** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-2A, Class A <br>4.30%, 01/25/2037\*<br>| $191228 | &nbsp;&nbsp; $190952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A <br>4.54%, 05/25/2044\*<br>| 314655 | &nbsp;&nbsp; 317228 |
| &nbsp;&nbsp;&nbsp; Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3A, Class A <br>4.51%, 05/21/2035\*<br>| 545000 | &nbsp;&nbsp; 548996 |
| &nbsp;&nbsp;&nbsp; MVW LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A <br>4.48%, 10/20/2044\*<br>| 481401 | &nbsp;&nbsp; 484806 |
| &nbsp;&nbsp;&nbsp; SCF Equipment Leasing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A3 <br>4.33%, 06/20/2036\*<br>| 990000 | &nbsp;&nbsp; 1001338 |
|  |  | &nbsp;&nbsp; 8338525 |
| &nbsp;&nbsp;&nbsp; **Total Asset Backed Securities** <br>(cost $13,740,350)<br>|  | &nbsp;&nbsp; 13835162 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 19.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 19.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 19.8%** |
| **Commercial and Residential — 3.2%** | **Commercial and Residential — 3.2%** | **Commercial and Residential — 3.2%** |
| &nbsp;&nbsp;&nbsp; BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-BNK26, Class A4 <br>2.40%, 03/15/2063<br>| 500000 | &nbsp;&nbsp; 465263 |
| &nbsp;&nbsp;&nbsp; BANK VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-BNK41, Class A4 <br>3.79%, 04/15/2065(1)<br>| 500000 | &nbsp;&nbsp; 484170 |
| &nbsp;&nbsp;&nbsp; BBCMS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-VFM, Class A1 <br>2.47%, 03/10/2036\*<br>| 3747 | &nbsp;&nbsp; 3741 |
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mtg. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-GC46, Class A5 <br>2.72%, 02/15/2053<br>| 1250000 | &nbsp;&nbsp; 1173584 |
| &nbsp;&nbsp;&nbsp; GS Mtg. Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-GS7, Class A4 <br>3.43%, 08/10/2050<br>| 1100000 | &nbsp;&nbsp; 1088614 |
| &nbsp;&nbsp;&nbsp; IRV Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-200P, Class A <br>5.29%, 03/14/2047\*(1)<br>| 750000 | &nbsp;&nbsp; 779869 |
| &nbsp;&nbsp;&nbsp; PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL2, Class A1 <br>3.75%, 04/25/2055\*<br>| 734890 | &nbsp;&nbsp; 721958 |
| &nbsp;&nbsp;&nbsp; SLG Office Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-OVA, Class A <br>2.59%, 07/15/2041\*<br>| 1000000 | &nbsp;&nbsp; 911894 |
|  |  | &nbsp;&nbsp; 5629093 |
| **U.S. Government Agency — 16.6%** | **U.S. Government Agency — 16.6%** | **U.S. Government Agency — 16.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. Multifamily Structured <br> Pass Through Certs.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K145, Class A2 <br>2.58%, 05/25/2032<br>| 430000 | &nbsp;&nbsp; 398065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K146, Class A2 <br>2.92%, 06/25/2032<br>| 705000 | &nbsp;&nbsp; 665096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. Multifamily Structured <br> Pass Through Certs. VRS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series K-150, Class A2 <br>3.71%, 09/25/2032(1)<br>| 1070000 | &nbsp;&nbsp; 1053075 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4994, Class GV <br>2.00%, 06/25/2046<br>| 2000000 | &nbsp;&nbsp; 1661454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4594, Class GN <br>2.50%, 02/15/2045<br>| 237649 | &nbsp;&nbsp; 226603 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4097, Class YK <br>3.00%, 08/15/2032<br>| $1750000 | &nbsp;&nbsp; $1719504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4150, Class IG <br>3.00%, 01/15/2033(2)<br>| 497278 | &nbsp;&nbsp; 23109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4838, Class CY <br>3.00%, 01/15/2038<br>| 1000000 | &nbsp;&nbsp; 948157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4365, Class HZ <br>3.00%, 01/15/2040<br>| 312189 | &nbsp;&nbsp; 297622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4057, Class WY <br>3.50%, 06/15/2027<br>| 138775 | &nbsp;&nbsp; 138001 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4039, Class SA <br>2.73%, (6.39%-SOFR30A), 05/15/2042(2)(3)<br>| 117172 | &nbsp;&nbsp; 15113 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. SCRT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class MT <br>3.50%, 05/25/2064<br>| 405330 | &nbsp;&nbsp; 369064 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 264, Class 30 <br>3.00%, 07/15/2042<br>| 195345 | &nbsp;&nbsp; 182456 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. Grantor Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-T1, Class A <br>2.90%, 06/25/2027<br>| 1113686 | &nbsp;&nbsp; 1098788 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2002-34, Class AO <br>Zero Coupon, 05/18/2032(4)<br>| 15928 | &nbsp;&nbsp; 15478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-12, Class JC <br>2.00%, 03/25/2050<br>| 567040 | &nbsp;&nbsp; 490761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-23, Class KJ <br>2.25%, 05/25/2042<br>| 400495 | &nbsp;&nbsp; 381884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2013-73, Class TD <br>2.50%, 09/25/2042<br>| 129907 | &nbsp;&nbsp; 126059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-M31, Class A2 <br>2.85%, 04/25/2034<br>| 1000000 | &nbsp;&nbsp; 904675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-87, Class CZ <br>3.00%, 08/25/2042<br>| 1644478 | &nbsp;&nbsp; 1551202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-25, Class LA <br>3.00%, 07/25/2045<br>| 170480 | &nbsp;&nbsp; 164274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-33, Class JA <br>3.00%, 07/25/2045<br>| 160071 | &nbsp;&nbsp; 154582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-97, Class N <br>3.00%, 11/25/2045<br>| 2000000 | &nbsp;&nbsp; 1816318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-38, Class NA <br>3.00%, 01/25/2046<br>| 316887 | &nbsp;&nbsp; 303310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-30, Class LY <br>3.50%, 05/25/2036<br>| 800000 | &nbsp;&nbsp; 781866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2010-134, Class MB <br>4.50%, 12/25/2040<br>| 250000 | &nbsp;&nbsp; 250671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2007-116, Class PB <br>5.50%, 08/25/2035<br>| 15796 | &nbsp;&nbsp; 16433 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-M3, Class A2 <br>1.71%, 11/25/2031(1)<br>| 1000000 | &nbsp;&nbsp; 888473 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 384, Class 23 <br>6.00%, 08/25/2037(2)<br>| 48746 | &nbsp;&nbsp; 7857 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-94, Class AO <br>Zero Coupon, 05/20/2052(4)<br>| 1555639 | &nbsp;&nbsp; 1110713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-164, Class AO <br>Zero Coupon, 10/20/2054(4)<br>| 973395 | &nbsp;&nbsp; 785039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-119, Class AZ <br>3.50%, 07/20/2052<br>| 1714922 | &nbsp;&nbsp; 1514691 |

---

------

**VALIC Company I Government Securities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-58, Class EP <br>4.00%, 04/20/2044<br>| $432000 | &nbsp;&nbsp; $399632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-120, Class LN <br>4.00%, 07/20/2052<br>| 1431540 | &nbsp;&nbsp; 1272314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-18, Class Z <br>4.50%, 03/16/2034<br>| 59230 | &nbsp;&nbsp; 59156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2008-6, Class GL <br>4.50%, 02/20/2038<br>| 277147 | &nbsp;&nbsp; 276508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-159, Class PA <br>4.50%, 10/20/2054<br>| 3740568 | &nbsp;&nbsp; 3726218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-21, Class Z <br>5.00%, 03/20/2035<br>| 122940 | &nbsp;&nbsp; 123483 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-100, Class JS <br>5.88%, (15.95%-SOFR30A), 06/20/2055(3)<br>| 1402841 | &nbsp;&nbsp; 1402642 |
| &nbsp;&nbsp;&nbsp; Seasoned Credit Risk Transfer Trust Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class MAU <br>3.25%, 11/25/2064<br>| 1287670 | &nbsp;&nbsp; 1207659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1, Class MTU <br>3.25%, 11/25/2064<br>| 1348646 | &nbsp;&nbsp; 1191855 |
|  |  | &nbsp;&nbsp; 29719860 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(cost $36,153,124)<br>|  | &nbsp;&nbsp; 35348953 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 63.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 63.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 63.9%** |
| **U.S. Government — 41.6%** | **U.S. Government — 41.6%** | **U.S. Government — 41.6%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 08/15/2050 | 1180000 | &nbsp;&nbsp; 607423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.88%, 02/15/2041 | 1800000 | &nbsp;&nbsp; 1299445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.00%, 11/15/2041 to 02/15/2050 | 4000000 | &nbsp;&nbsp; 2556251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.88%, 08/15/2045 | 1000000 | &nbsp;&nbsp; 777383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 02/15/2048 | 750000 | &nbsp;&nbsp; 579053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.13%, 02/15/2043 | 2000000 | &nbsp;&nbsp; 1670469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.25%, 05/15/2042 | 500000 | &nbsp;&nbsp; 429844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.75%, 08/15/2041 to 11/15/2043 | 5684000 | &nbsp;&nbsp; 5232737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 08/15/2040 | 2105000 | &nbsp;&nbsp; 2002957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 11/15/2045 | 955000 | &nbsp;&nbsp; 961267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.88%, 08/15/2045 | 365000 | &nbsp;&nbsp; 379657 |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds STRIPS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>Zero Coupon, 08/15/2035 to 02/15/2039 | 11981000 | &nbsp;&nbsp; 7892747 |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.25%, 06/30/2028(5) | 3500000 | &nbsp;&nbsp; 3334160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.38%, 12/31/2027 to 05/15/2033 | 2680000 | &nbsp;&nbsp; 2650165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 01/31/2028 to 11/30/2030# | 5198000 | &nbsp;&nbsp; 5198467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 11/15/2028 to 04/30/2030 | 5678000 | &nbsp;&nbsp; 5686440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.63%, 08/31/2029 to 12/31/2030 | 10039000 | &nbsp;&nbsp; 10095360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.75%, 01/31/2031 | 1325000 | &nbsp;&nbsp; 1338457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 12/31/2032# | 2245000 | &nbsp;&nbsp; 2267099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 08/15/2034 | 568000 | &nbsp;&nbsp; 568843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 03/31/2030 to 11/15/2035 | 10140000 | &nbsp;&nbsp; 10267797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 02/15/2034# | 2250000 | &nbsp;&nbsp; 2279619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.13%, 02/29/2032 | 2000000 | &nbsp;&nbsp; 2052422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 08/15/2035 | 1000000 | &nbsp;&nbsp; 1024844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 11/15/2033# | 2000000 | &nbsp;&nbsp; 2095078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 05/31/2031 | 1000000 | &nbsp;&nbsp; 1050625 |
|  |  | &nbsp;&nbsp; 74298609 |
| **U.S. Government Agency — 22.3%** | **U.S. Government Agency — 22.3%** | **U.S. Government Agency — 22.3%** |
| &nbsp;&nbsp;&nbsp; Federal Farm Credit Banks Funding Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.33%, 04/28/2037 | 500000 | &nbsp;&nbsp; 460739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 07/17/2028 | 500000 | &nbsp;&nbsp; 509542 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** | **U.S. Government Agency (continued)** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.38%, 09/08/2028 | $500000 | &nbsp;&nbsp; $511415 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.20%, 04/01/2034 | 584359 | &nbsp;&nbsp; 549368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 06/01/2033 | 264758 | &nbsp;&nbsp; 261932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.70%, 05/01/2037 | 2974388 | &nbsp;&nbsp; 2836278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 09/01/2039 to 06/01/2041 | 713330 | &nbsp;&nbsp; 721876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 11/01/2053 | 1085115 | &nbsp;&nbsp; 1094681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 12/01/2036 to 12/01/2055 | 5820242 | &nbsp;&nbsp; 5940475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 11/01/2033 to 02/01/2055 | 1564646 | &nbsp;&nbsp; 1633189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.50%, 02/01/2032 | 4863 | &nbsp;&nbsp; 5084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>8.00%, 08/01/2030 | 33 | &nbsp;&nbsp; 34 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 02/01/2056 | 904977 | &nbsp;&nbsp; 921249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 02/01/2056 | 580431 | &nbsp;&nbsp; 598510 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.73%, 08/01/2031 | 650000 | &nbsp;&nbsp; 581363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.04%, 06/01/2037 | 236892 | &nbsp;&nbsp; 193778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.14%, 10/01/2029 | 973837 | &nbsp;&nbsp; 924894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.31%, 05/01/2037 | 934752 | &nbsp;&nbsp; 788655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.53%, 04/01/2034 | 2500000 | &nbsp;&nbsp; 2228568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.55%, 09/01/2034 | 695511 | &nbsp;&nbsp; 623633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.30%, 02/01/2030 | 2631365 | &nbsp;&nbsp; 2566728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.43%, 05/01/2032 | 2000000 | &nbsp;&nbsp; 1942692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.54%, 06/01/2032 | 1000000 | &nbsp;&nbsp; 975626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 09/01/2040 to 06/01/2042 | 1149834 | &nbsp;&nbsp; 1145914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.33%, 10/01/2037 | 1000000 | &nbsp;&nbsp; 996689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 12/01/2036 | 3092 | &nbsp;&nbsp; 3126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.50%, 12/01/2033 to 11/01/2055 | 1301611 | &nbsp;&nbsp; 1333604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.50%, 07/01/2032 | 1159 | &nbsp;&nbsp; 1220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.00%, 09/01/2031 | 1553 | &nbsp;&nbsp; 1627 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 08/20/2053 | 533335 | &nbsp;&nbsp; 472056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.50%, 08/20/2051 to 09/20/2051 | 1752795 | &nbsp;&nbsp; 1624856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 04/20/2053 | 1391253 | &nbsp;&nbsp; 1324789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.50%, 03/15/2038 to 08/15/2040 | 244881 | &nbsp;&nbsp; 248479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.00%, 09/15/2035 to 05/15/2036 | 18914 | &nbsp;&nbsp; 19379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 01/15/2032 | 2014 | &nbsp;&nbsp; 2045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.50%, 01/15/2031 | 1521 | &nbsp;&nbsp; 1551 |
| &nbsp;&nbsp;&nbsp; Uniform Mtg. Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, March 30 TBA | 1000000 | &nbsp;&nbsp; 828234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, March 30 TBA | 1650000 | &nbsp;&nbsp; 1657401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, March 30 TBA | 1440000 | &nbsp;&nbsp; 1463087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, March 30 TBA | 1740000 | &nbsp;&nbsp; 1784698 |
|  |  | &nbsp;&nbsp; 39779064 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Obligations** <br>(cost $117,047,560)<br>|  | &nbsp;&nbsp; 114077673 |
| **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** |
| **Purchased Options - Calls — 0.0%** | **Purchased Options - Calls — 0.0%** | **Purchased Options - Calls — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange - Traded call option on the U.S. Treasury Long <br> Bonds (Expiration Date: 04/24/2026; Strike Price: <br> $128.00) † <br>(cost $41,016)<br>| 525000 | &nbsp;&nbsp; 41016 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $177,390,344)<br>|  | &nbsp;&nbsp; 173770732 |

---

------

**VALIC Company I Government Securities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **REPURCHASE AGREEMENTS — 5.2%** | **REPURCHASE AGREEMENTS — 5.2%** | **REPURCHASE AGREEMENTS — 5.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with Fixed Income Clearing Corp., bearing <br> interest at 1.06% dated 02/27/2026, to be <br> repurchased 03/02/2026 in the amount of <br> $9,261,099 and collateralized by $9,921,600 of <br> United States Treasury Notes bearing interest at <br> 1.38% due 10/31/2028 and having an approximate <br> value of $9,445,637 <br>(cost $9,260,281)<br>| $9260281 | &nbsp;&nbsp; $9260281 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $186,650,625)<br>| 102.5<br> %<br>| &nbsp;&nbsp; 183031013 |
| Other assets less liabilities | (2.5)<br>| &nbsp;&nbsp; (4466973)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $178564040 |

---

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

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The Government Securities Fund has no right to demand registration of these securities. At February 28, 2026, the aggregate value of these securities was $16,703,295 representing 9.4% of net assets. 

# The security or a portion thereof is out on loan. At February 28, 2026, the Fund had loaned securities with a total value of $7,926,953. This was secured by collateral of $8,060,088 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components of the fixed income pooled securities referenced above are as follows: 

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. <br> Corp.<br>| 0.01% to 6.97% | 08/25/2033 to 03/01/2056 | $4359593 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. <br> Assoc.<br>| 2.50% to 6.00% | 06/01/2049 to 01/01/2056 | 1351518 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 4.00% to 5.50% | 12/20/2047 to 02/20/2056 | 659497 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 1.25% to 4.50% | 05/31/2029 to 11/15/2032 | 1689480 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;† Non-income producing security

&nbsp;&nbsp;&nbsp;&nbsp;(1) Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description
 above.

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

&nbsp;&nbsp;&nbsp;&nbsp;(2) Interest Only

&nbsp;&nbsp;&nbsp;&nbsp;(3) Inverse Floating Rate Security that pays interest that varies inversely to changes
 in the market interest rates. The interest rate shown is the current interest rate at February
 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) Principal Only

&nbsp;&nbsp;&nbsp;&nbsp;(5) The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts.

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

---

| |
|:---|
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SCRT—Structured Credit Risk Transfer |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| STRIPS—Separate Trading of Registered Interest and Principal |
| TBA—Securities purchased on a forward commitment basis with an approximate principal <br> amount and no definite maturity date. The actual principal amount and maturity date will be <br> determined upon settlement date.<br>|
| VRS—Variable Rate Security |

---

The rates shown on FRS and/or VRS are the current interest rates at February 28, 2026 and unless noted otherwise, the dates shown are the original maturity dates.

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 54 | Long | U.S. Treasury 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $6117697 | &nbsp;&nbsp;&nbsp;&nbsp; $6145875 | &nbsp;&nbsp;&nbsp;&nbsp; $28178 |
| 16 | Long | U.S. Treasury 2 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3344391 | &nbsp;&nbsp;&nbsp;&nbsp; 3348375 | &nbsp;&nbsp;&nbsp;&nbsp; 3984 |
| 47 | Long | U.S. Treasury 5 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5162702 | &nbsp;&nbsp;&nbsp;&nbsp; 5176610 | &nbsp;&nbsp;&nbsp;&nbsp; 13908 |
| 3 | Long | U.S. Treasury Long Bonds | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 352411 | &nbsp;&nbsp;&nbsp;&nbsp; 355407 | &nbsp;&nbsp;&nbsp;&nbsp; 2996 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $49066 |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 45 | Short | U.S. Treasury Ultra 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $5222724 | &nbsp;&nbsp;&nbsp;&nbsp; $5253047 | &nbsp;&nbsp;&nbsp;&nbsp; $(30323)<br>|
|  |  | Net Unrealized Appreciation (Depreciation) | Net Unrealized Appreciation (Depreciation) | Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp; $18743 |

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

------

**VALIC Company I Government Securities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10467928 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $10467928 |
| Asset Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 13835162 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13835162 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 35348953 | &nbsp;&nbsp; — | &nbsp;&nbsp; 35348953 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 114077673 | &nbsp;&nbsp; — | &nbsp;&nbsp; 114077673 |
| Purchased Options | &nbsp;&nbsp; 41016 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 41016 |
| Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 9260281 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9260281 |
| **Total Investments at Value** | &nbsp;&nbsp; $41016 | &nbsp;&nbsp; $182989997 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $183031013 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $49066 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $49066 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $30323 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $30323 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 96.8%** | **COMMON STOCKS — 96.8%** | **COMMON STOCKS — 96.8%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp; Trade Desk, Inc., Class A† | 6968 | &nbsp;&nbsp; $165978 |
| **Aerospace/Defense — 7.4%** | **Aerospace/Defense — 7.4%** | **Aerospace/Defense — 7.4%** |
| &nbsp;&nbsp;&nbsp; Boeing Co.† | 105689 | &nbsp;&nbsp; 24047418 |
| &nbsp;&nbsp;&nbsp; FTAI Aviation, Ltd. | 1564 | &nbsp;&nbsp; 478271 |
| &nbsp;&nbsp;&nbsp; General Electric Co. | 15976 | &nbsp;&nbsp; 5467946 |
| &nbsp;&nbsp;&nbsp; HEICO Corp. | 643 | &nbsp;&nbsp; 205413 |
| &nbsp;&nbsp;&nbsp; HEICO Corp., Class A | 1161 | &nbsp;&nbsp; 278768 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 171369 | &nbsp;&nbsp; 44989504 |
| &nbsp;&nbsp;&nbsp; Karman Holdings, Inc.#† | 780 | &nbsp;&nbsp; 68726 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 68182 | &nbsp;&nbsp; 24855066 |
| &nbsp;&nbsp;&nbsp; Leonardo DRS, Inc. | 423 | &nbsp;&nbsp; 18354 |
| &nbsp;&nbsp;&nbsp; Loar Holdings, Inc.† | 637 | &nbsp;&nbsp; 45093 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 882 | &nbsp;&nbsp; 580427 |
| &nbsp;&nbsp;&nbsp; Rocket Lab Corp.† | 6354 | &nbsp;&nbsp; 439061 |
| &nbsp;&nbsp;&nbsp; StandardAero, Inc.† | 78 | &nbsp;&nbsp; 2402 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | 22068 | &nbsp;&nbsp; 28749970 |
|  |  | &nbsp;&nbsp; 130226419 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.† | 390 | &nbsp;&nbsp; 20732 |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| &nbsp;&nbsp;&nbsp; Alaska Air Group, Inc.† | 313 | &nbsp;&nbsp; 16151 |
| &nbsp;&nbsp;&nbsp; American Airlines Group, Inc.† | 320 | &nbsp;&nbsp; 4182 |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 796 | &nbsp;&nbsp; 39211 |
|  |  | &nbsp;&nbsp; 59544 |
| **Apparel — 0.0%** | **Apparel — 0.0%** | **Apparel — 0.0%** |
| &nbsp;&nbsp;&nbsp; Birkenstock Holding PLC#† | 289 | &nbsp;&nbsp; 12037 |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 2256 | &nbsp;&nbsp; 264561 |
| &nbsp;&nbsp;&nbsp; On Holding AG, Class A† | 3343 | &nbsp;&nbsp; 155383 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 42 | &nbsp;&nbsp; 15229 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. | 2913 | &nbsp;&nbsp; 452884 |
|  |  | &nbsp;&nbsp; 900094 |
| **Auto Manufacturers — 2.4%** | **Auto Manufacturers — 2.4%** | **Auto Manufacturers — 2.4%** |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 106616 | &nbsp;&nbsp; 42914006 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. | 211 | &nbsp;&nbsp; 26438 |
| **Banks — 1.2%** | **Banks — 1.2%** | **Banks — 1.2%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 8116 | &nbsp;&nbsp; 404420 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 769 | &nbsp;&nbsp; 91588 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 178694 | &nbsp;&nbsp; 19690292 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 242 | &nbsp;&nbsp; 208016 |
| &nbsp;&nbsp;&nbsp; NU Holdings, Ltd., Class A† | 51377 | &nbsp;&nbsp; 769627 |
| &nbsp;&nbsp;&nbsp; Popular, Inc. | 120 | &nbsp;&nbsp; 16243 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp | 334 | &nbsp;&nbsp; 26827 |
|  |  | &nbsp;&nbsp; 21207013 |
| **Beverages — 0.2%** | **Beverages — 0.2%** | **Beverages — 0.2%** |
| &nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.† | 2628 | &nbsp;&nbsp; 140887 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. | 29187 | &nbsp;&nbsp; 2380492 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 112 | &nbsp;&nbsp; 22669 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 10714 | &nbsp;&nbsp; 913904 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 2882 | &nbsp;&nbsp; 489190 |
|  |  | &nbsp;&nbsp; 3947142 |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.† | 1947 | &nbsp;&nbsp; 648195 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 6094 | &nbsp;&nbsp; 2365447 |
| &nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc.† | 1575 | &nbsp;&nbsp; 33012 |
| &nbsp;&nbsp;&nbsp; Exelixis, Inc.† | 3466 | &nbsp;&nbsp; 152712 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 5150 | &nbsp;&nbsp; $767093 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.† | 1780 | &nbsp;&nbsp; 123763 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 602 | &nbsp;&nbsp; 60965 |
| &nbsp;&nbsp;&nbsp; Insmed, Inc.† | 3014 | &nbsp;&nbsp; 450081 |
| &nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.† | 2320 | &nbsp;&nbsp; 188268 |
| &nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc.† | 1346 | &nbsp;&nbsp; 22559 |
| &nbsp;&nbsp;&nbsp; Summit Therapeutics, Inc.#† | 1729 | &nbsp;&nbsp; 28684 |
| &nbsp;&nbsp;&nbsp; Ultragenyx Pharmaceutical, Inc.† | 1306 | &nbsp;&nbsp; 30547 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 3950 | &nbsp;&nbsp; 1962478 |
|  |  | &nbsp;&nbsp; 6833804 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp; AAON, Inc.# | 1009 | &nbsp;&nbsp; 102111 |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. | 216 | &nbsp;&nbsp; 37476 |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 61 | &nbsp;&nbsp; 24081 |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | 62 | &nbsp;&nbsp; 13875 |
| &nbsp;&nbsp;&nbsp; James Hardie Industries PLC† | 1508 | &nbsp;&nbsp; 36720 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. | 504 | &nbsp;&nbsp; 287250 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 75 | &nbsp;&nbsp; 14518 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 3424 | &nbsp;&nbsp; 1582983 |
|  |  | &nbsp;&nbsp; 2099014 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ecolab, Inc. | 971 | &nbsp;&nbsp; 299408 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 3212 | &nbsp;&nbsp; 1164639 |
|  |  | &nbsp;&nbsp; 1464047 |
| **Commercial Services — 0.4%** | **Commercial Services — 0.4%** | **Commercial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Affirm Holdings, Inc.† | 2519 | &nbsp;&nbsp; 118343 |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 5803 | &nbsp;&nbsp; 1243931 |
| &nbsp;&nbsp;&nbsp; Avis Budget Group, Inc.#† | 56 | &nbsp;&nbsp; 5455 |
| &nbsp;&nbsp;&nbsp; Block, Inc.† | 3194 | &nbsp;&nbsp; 203458 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. | 1905 | &nbsp;&nbsp; 150171 |
| &nbsp;&nbsp;&nbsp; Bright Horizons Family Solutions, Inc.† | 127 | &nbsp;&nbsp; 9464 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 5281 | &nbsp;&nbsp; 1062168 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc.† | 1044 | &nbsp;&nbsp; 339404 |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. | 312 | &nbsp;&nbsp; 65196 |
| &nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.† | 136 | &nbsp;&nbsp; 21634 |
| &nbsp;&nbsp;&nbsp; H&R Block, Inc. | 391 | &nbsp;&nbsp; 11972 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 2388 | &nbsp;&nbsp; 1140485 |
| &nbsp;&nbsp;&nbsp; Morningstar, Inc. | 236 | &nbsp;&nbsp; 43221 |
| &nbsp;&nbsp;&nbsp; NIQ Global Intelligence PLC#† | 133 | &nbsp;&nbsp; 1773 |
| &nbsp;&nbsp;&nbsp; Paylocity Holding Corp.† | 659 | &nbsp;&nbsp; 70177 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 1752 | &nbsp;&nbsp; 986516 |
| &nbsp;&nbsp;&nbsp; Rollins, Inc. | 4360 | &nbsp;&nbsp; 265480 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc., Class A#† | 1074 | &nbsp;&nbsp; 47331 |
| &nbsp;&nbsp;&nbsp; Toast, Inc., Class A† | 7058 | &nbsp;&nbsp; 192754 |
| &nbsp;&nbsp;&nbsp; U-Haul Holding Co. (Non-Voting) | 638 | &nbsp;&nbsp; 30088 |
| &nbsp;&nbsp;&nbsp; Valvoline, Inc.† | 1610 | &nbsp;&nbsp; 60858 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 1289 | &nbsp;&nbsp; 267558 |
| &nbsp;&nbsp;&nbsp; WEX, Inc.† | 91 | &nbsp;&nbsp; 13576 |
| &nbsp;&nbsp;&nbsp; WillScot Holdings Corp.# | 774 | &nbsp;&nbsp; 16726 |
|  |  | &nbsp;&nbsp; 6367739 |
| **Computers — 7.5%** | **Computers — 7.5%** | **Computers — 7.5%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 487884 | &nbsp;&nbsp; 128889195 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A† | 3798 | &nbsp;&nbsp; 1412780 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | 699 | &nbsp;&nbsp; 103508 |
| &nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.† | 2361 | &nbsp;&nbsp; 73781 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc., Class A† | 204 | &nbsp;&nbsp; 5157 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 9773 | &nbsp;&nbsp; 772360 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc.† | 1151 | &nbsp;&nbsp; 180937 |
| &nbsp;&nbsp;&nbsp; KBR, Inc. | 15 | &nbsp;&nbsp; 634 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.† | 78 | &nbsp;&nbsp; 54671 |

---

------

**VALIC Company I Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 1260 | &nbsp;&nbsp; $124778 |
| &nbsp;&nbsp;&nbsp; Okta, Inc.† | 1063 | &nbsp;&nbsp; 77068 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc., Class A† | 4047 | &nbsp;&nbsp; 259898 |
| &nbsp;&nbsp;&nbsp; Rubrik, Inc., Class A† | 1225 | &nbsp;&nbsp; 63651 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc.#† | 3641 | &nbsp;&nbsp; 117932 |
| &nbsp;&nbsp;&nbsp; Zscaler, Inc.† | 1525 | &nbsp;&nbsp; 224160 |
|  |  | &nbsp;&nbsp; 132360510 |
| **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** | **Cosmetics/Personal Care — 0.0%** |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 5852 | &nbsp;&nbsp; 580167 |
| **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |
| &nbsp;&nbsp;&nbsp; Copart, Inc.† | 12651 | &nbsp;&nbsp; 481877 |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A† | 1625 | &nbsp;&nbsp; 88010 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | 14481 | &nbsp;&nbsp; 666705 |
| &nbsp;&nbsp;&nbsp; Pool Corp. | 99 | &nbsp;&nbsp; 22491 |
| &nbsp;&nbsp;&nbsp; RB Global, Inc. | 167 | &nbsp;&nbsp; 16860 |
| &nbsp;&nbsp;&nbsp; SiteOne Landscape Supply, Inc.† | 242 | &nbsp;&nbsp; 34580 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 573 | &nbsp;&nbsp; 655930 |
|  |  | &nbsp;&nbsp; 1966453 |
| **Diversified Financial Services — 2.3%** | **Diversified Financial Services — 2.3%** | **Diversified Financial Services — 2.3%** |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. | 548 | &nbsp;&nbsp; 21613 |
| &nbsp;&nbsp;&nbsp; American Express Co. | 2720 | &nbsp;&nbsp; 840208 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 1297 | &nbsp;&nbsp; 609746 |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 4410 | &nbsp;&nbsp; 461286 |
| &nbsp;&nbsp;&nbsp; Ares Management Corp., Class A | 2888 | &nbsp;&nbsp; 323485 |
| &nbsp;&nbsp;&nbsp; Blue Owl Capital, Inc.# | 9728 | &nbsp;&nbsp; 102630 |
| &nbsp;&nbsp;&nbsp; Brookfield Asset Management, Ltd., Class A# | 1983 | &nbsp;&nbsp; 92705 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 117107 | &nbsp;&nbsp; 22910813 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 2369 | &nbsp;&nbsp; 225529 |
| &nbsp;&nbsp;&nbsp; Circle Internet Group, Inc.† | 104 | &nbsp;&nbsp; 8678 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc., Class A† | 353 | &nbsp;&nbsp; 62075 |
| &nbsp;&nbsp;&nbsp; Freedom Holding Corp.#† | 222 | &nbsp;&nbsp; 26678 |
| &nbsp;&nbsp;&nbsp; Hamilton Lane, Inc., Class A | 384 | &nbsp;&nbsp; 40297 |
| &nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 305 | &nbsp;&nbsp; 49950 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | 334 | &nbsp;&nbsp; 23777 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | 494 | &nbsp;&nbsp; 21934 |
| &nbsp;&nbsp;&nbsp; Lazard, Inc. | 315 | &nbsp;&nbsp; 15939 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 1224 | &nbsp;&nbsp; 367665 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 12356 | &nbsp;&nbsp; 6390647 |
| &nbsp;&nbsp;&nbsp; SoFi Technologies, Inc.† | 2923 | &nbsp;&nbsp; 51912 |
| &nbsp;&nbsp;&nbsp; TPG, Inc. | 2000 | &nbsp;&nbsp; 86840 |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc., Class A | 145 | &nbsp;&nbsp; 17872 |
| &nbsp;&nbsp;&nbsp; UWM Holdings Corp. | 159 | &nbsp;&nbsp; 701 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 25855 | &nbsp;&nbsp; 8277220 |
| &nbsp;&nbsp;&nbsp; XP, Inc., Class A | 690 | &nbsp;&nbsp; 14856 |
|  |  | &nbsp;&nbsp; 41045056 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 2891 | &nbsp;&nbsp; 517373 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | 5196 | &nbsp;&nbsp; 903533 |
|  |  | &nbsp;&nbsp; 1420906 |
| **Electronics — 0.2%** | **Electronics — 0.2%** | **Electronics — 0.2%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 18741 | &nbsp;&nbsp; 2737311 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | 1093 | &nbsp;&nbsp; 289634 |
|  |  | &nbsp;&nbsp; 3026945 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp; Enphase Energy, Inc.† | 1951 | &nbsp;&nbsp; 82469 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | 534 | &nbsp;&nbsp; 763283 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Engineering & Construction (continued)** | **Engineering & Construction (continued)** | **Engineering & Construction (continued)** |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 230 | &nbsp;&nbsp; $166663 |
| &nbsp;&nbsp;&nbsp; MasTec, Inc.† | 194 | &nbsp;&nbsp; 57816 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp.† | 39 | &nbsp;&nbsp; 17484 |
|  |  | &nbsp;&nbsp; 1005246 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 935 | &nbsp;&nbsp; 85955 |
| &nbsp;&nbsp;&nbsp; DraftKings, Inc., Class A† | 7457 | &nbsp;&nbsp; 177775 |
| &nbsp;&nbsp;&nbsp; Flutter Entertainment PLC#† | 1976 | &nbsp;&nbsp; 209733 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.#† | 2431 | &nbsp;&nbsp; 394162 |
| &nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 437 | &nbsp;&nbsp; 97831 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc.# | 477 | &nbsp;&nbsp; 64781 |
|  |  | &nbsp;&nbsp; 1030237 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp; Tetra Tech, Inc. | 842 | &nbsp;&nbsp; 30177 |
| &nbsp;&nbsp;&nbsp; Veralto Corp. | 1538 | &nbsp;&nbsp; 149847 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. | 5682 | &nbsp;&nbsp; 1368453 |
|  |  | &nbsp;&nbsp; 1548477 |
| **Food — 0.0%** | **Food — 0.0%** | **Food — 0.0%** |
| &nbsp;&nbsp;&nbsp; Hershey Co. | 297 | &nbsp;&nbsp; 70175 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co.† | 321 | &nbsp;&nbsp; 31156 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc.† | 1496 | &nbsp;&nbsp; 110510 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 4015 | &nbsp;&nbsp; 366007 |
|  |  | &nbsp;&nbsp; 577848 |
| **Healthcare-Products — 1.8%** | **Healthcare-Products — 1.8%** | **Healthcare-Products — 1.8%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 225435 | &nbsp;&nbsp; 17324680 |
| &nbsp;&nbsp;&nbsp; Exact Sciences Corp.† | 106 | &nbsp;&nbsp; 10958 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 1222 | &nbsp;&nbsp; 802524 |
| &nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.† | 431 | &nbsp;&nbsp; 27804 |
| &nbsp;&nbsp;&nbsp; Insulet Corp.† | 1072 | &nbsp;&nbsp; 264366 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.† | 5422 | &nbsp;&nbsp; 2730031 |
| &nbsp;&nbsp;&nbsp; Masimo Corp.† | 692 | &nbsp;&nbsp; 121342 |
| &nbsp;&nbsp;&nbsp; Natera, Inc.† | 1994 | &nbsp;&nbsp; 414832 |
| &nbsp;&nbsp;&nbsp; Penumbra, Inc.† | 587 | &nbsp;&nbsp; 202157 |
| &nbsp;&nbsp;&nbsp; Repligen Corp.† | 117 | &nbsp;&nbsp; 15061 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 512 | &nbsp;&nbsp; 131205 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 1360 | &nbsp;&nbsp; 526946 |
| &nbsp;&nbsp;&nbsp; Tempus AI, Inc.#† | 1475 | &nbsp;&nbsp; 78544 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 16810 | &nbsp;&nbsp; 8759859 |
| &nbsp;&nbsp;&nbsp; Waters Corp.† | 499 | &nbsp;&nbsp; 159371 |
|  |  | &nbsp;&nbsp; 31569680 |
| **Healthcare-Services — 0.0%** | **Healthcare-Services — 0.0%** | **Healthcare-Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 22 | &nbsp;&nbsp; 9020 |
| &nbsp;&nbsp;&nbsp; Cigna Group | 313 | &nbsp;&nbsp; 90714 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.† | 564 | &nbsp;&nbsp; 88153 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 522 | &nbsp;&nbsp; 276504 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc.† | 357 | &nbsp;&nbsp; 161278 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.† | 435 | &nbsp;&nbsp; 67012 |
|  |  | &nbsp;&nbsp; 692681 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| &nbsp;&nbsp;&nbsp; SharkNinja, Inc.† | 193 | &nbsp;&nbsp; 23714 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | 3132 | &nbsp;&nbsp; 280345 |
|  |  | &nbsp;&nbsp; 304059 |
| **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** | **Household Products/Wares — 0.0%** |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 1925 | &nbsp;&nbsp; 214522 |
| **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 2979 | &nbsp;&nbsp; 999365 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 263 | &nbsp;&nbsp; 60017 |

---

------

**VALIC Company I Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 432 | &nbsp;&nbsp; $31026 |
| &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. | 30 | &nbsp;&nbsp; 1207 |
| &nbsp;&nbsp;&nbsp; Everest Group, Ltd. | 102 | &nbsp;&nbsp; 34220 |
| &nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 362 | &nbsp;&nbsp; 141060 |
| &nbsp;&nbsp;&nbsp; Markel Group, Inc.† | 37 | &nbsp;&nbsp; 76681 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 878 | &nbsp;&nbsp; 163958 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 436 | &nbsp;&nbsp; 93156 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty Holdings, Inc. | 1764 | &nbsp;&nbsp; 69413 |
|  |  | &nbsp;&nbsp; 1670103 |
| **Internet — 21.7%** | **Internet — 21.7%** | **Internet — 21.7%** |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc., Class A† | 6532 | &nbsp;&nbsp; 882538 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 269578 | &nbsp;&nbsp; 84043637 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 41311 | &nbsp;&nbsp; 12865485 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 573167 | &nbsp;&nbsp; 120365070 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 59646 | &nbsp;&nbsp; 25932291 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 469 | &nbsp;&nbsp; 1988255 |
| &nbsp;&nbsp;&nbsp; CDW Corp. | 137 | &nbsp;&nbsp; 16802 |
| &nbsp;&nbsp;&nbsp; Chewy, Inc., Class A† | 3540 | &nbsp;&nbsp; 97067 |
| &nbsp;&nbsp;&nbsp; Coupang, Inc.† | 20026 | &nbsp;&nbsp; 382096 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 5511 | &nbsp;&nbsp; 972526 |
| &nbsp;&nbsp;&nbsp; Etsy, Inc.† | 841 | &nbsp;&nbsp; 46154 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 1795 | &nbsp;&nbsp; 387164 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 883 | &nbsp;&nbsp; 19929 |
| &nbsp;&nbsp;&nbsp; GoDaddy, Inc., Class A† | 2055 | &nbsp;&nbsp; 179114 |
| &nbsp;&nbsp;&nbsp; Lyft, Inc., Class A† | 944 | &nbsp;&nbsp; 13065 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 89600 | &nbsp;&nbsp; 58076928 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 65095 | &nbsp;&nbsp; 6264743 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.† | 162292 | &nbsp;&nbsp; 24168525 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc., Class A† | 4949 | &nbsp;&nbsp; 84776 |
| &nbsp;&nbsp;&nbsp; Reddit, Inc., Class A† | 1974 | &nbsp;&nbsp; 287829 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 274065 | &nbsp;&nbsp; 20787830 |
| &nbsp;&nbsp;&nbsp; Roku, Inc.† | 279 | &nbsp;&nbsp; 27456 |
| &nbsp;&nbsp;&nbsp; Shopify, Inc., Class A† | 184879 | &nbsp;&nbsp; 22320442 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 2363 | &nbsp;&nbsp; 1216803 |
| &nbsp;&nbsp;&nbsp; Trump Media & Technology Group Corp.† | 1498 | &nbsp;&nbsp; 16044 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 30923 | &nbsp;&nbsp; 2332213 |
| &nbsp;&nbsp;&nbsp; Wayfair, Inc., Class A† | 243 | &nbsp;&nbsp; 18548 |
|  |  | &nbsp;&nbsp; 383793330 |
| **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** | **Iron/Steel — 0.0%** |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. | 126 | &nbsp;&nbsp; 50157 |
| &nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 199 | &nbsp;&nbsp; 38433 |
|  |  | &nbsp;&nbsp; 88590 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| &nbsp;&nbsp;&nbsp; Carnival Corp. | 5026 | &nbsp;&nbsp; 158570 |
| &nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings, Ltd.† | 6512 | &nbsp;&nbsp; 161433 |
| &nbsp;&nbsp;&nbsp; Planet Fitness, Inc., Class A† | 1253 | &nbsp;&nbsp; 102934 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. | 3891 | &nbsp;&nbsp; 1209945 |
| &nbsp;&nbsp;&nbsp; Viking Holdings, Ltd.† | 2729 | &nbsp;&nbsp; 212917 |
|  |  | &nbsp;&nbsp; 1845799 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp; Choice Hotels International, Inc.# | 122 | &nbsp;&nbsp; 12853 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 3503 | &nbsp;&nbsp; 1092165 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 4707 | &nbsp;&nbsp; 266981 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | 2645 | &nbsp;&nbsp; 903876 |
| &nbsp;&nbsp;&nbsp; Travel & Leisure Co. | 287 | &nbsp;&nbsp; 21152 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 1006 | &nbsp;&nbsp; 82291 |
|  |  | &nbsp;&nbsp; 2379318 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Machinery-Construction & Mining — 2.3%** | **Machinery-Construction & Mining — 2.3%** | **Machinery-Construction & Mining — 2.3%** |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. | 279 | &nbsp;&nbsp; $57469 |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 47776 | &nbsp;&nbsp; 35489446 |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 4199 | &nbsp;&nbsp; 3668246 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 5843 | &nbsp;&nbsp; 1489322 |
|  |  | &nbsp;&nbsp; 40704483 |
| **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. | 155 | &nbsp;&nbsp; 63155 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 37 | &nbsp;&nbsp; 8022 |
| &nbsp;&nbsp;&nbsp; Liberty Broadband Corp., Class A† | 9 | &nbsp;&nbsp; 491 |
| &nbsp;&nbsp;&nbsp; Liberty Broadband Corp., Class C† | 397 | &nbsp;&nbsp; 21680 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class A† | 145 | &nbsp;&nbsp; 12234 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class C† | 966 | &nbsp;&nbsp; 88476 |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | 25 | &nbsp;&nbsp; 6275 |
|  |  | &nbsp;&nbsp; 137178 |
| **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** | **Metal Fabricate/Hardware — 0.0%** |
| &nbsp;&nbsp;&nbsp; RBC Bearings, Inc.† | 93 | &nbsp;&nbsp; 53561 |
| **Mining — 2.1%** | **Mining — 2.1%** | **Mining — 2.1%** |
| &nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC† | 915 | &nbsp;&nbsp; 116909 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 241071 | &nbsp;&nbsp; 16412114 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 164933 | &nbsp;&nbsp; 21441290 |
|  |  | &nbsp;&nbsp; 37970313 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | 1305 | &nbsp;&nbsp; 215743 |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.† | 1146 | &nbsp;&nbsp; 621590 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. | 352 | &nbsp;&nbsp; 46622 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 1457 | &nbsp;&nbsp; 423448 |
|  |  | &nbsp;&nbsp; 1307403 |
| **Oil & Gas — 0.5%** | **Oil & Gas — 0.5%** | **Oil & Gas — 0.5%** |
| &nbsp;&nbsp;&nbsp; EQT Corp. | 121619 | &nbsp;&nbsp; 7469839 |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. | 251 | &nbsp;&nbsp; 12553 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | 431 | &nbsp;&nbsp; 66516 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | 886 | &nbsp;&nbsp; 464521 |
|  |  | &nbsp;&nbsp; 8013429 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; SLB, Ltd. | 1764 | &nbsp;&nbsp; 90564 |
| **Pharmaceuticals — 5.5%** | **Pharmaceuticals — 5.5%** | **Pharmaceuticals — 5.5%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 27211 | &nbsp;&nbsp; 6315129 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 6089 | &nbsp;&nbsp; 379771 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 1842 | &nbsp;&nbsp; 422242 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | 2812 | &nbsp;&nbsp; 1046458 |
| &nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc.† | 1391 | &nbsp;&nbsp; 49659 |
| &nbsp;&nbsp;&nbsp; Dexcom, Inc.† | 6005 | &nbsp;&nbsp; 440947 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 51308 | &nbsp;&nbsp; 53975503 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 34507 | &nbsp;&nbsp; 34071176 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.† | 1318 | &nbsp;&nbsp; 174305 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. | 5468 | &nbsp;&nbsp; 716855 |
|  |  | &nbsp;&nbsp; 97592045 |
| **Pipelines — 0.1%** | **Pipelines — 0.1%** | **Pipelines — 0.1%** |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 1462 | &nbsp;&nbsp; 344637 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | 3262 | &nbsp;&nbsp; 769180 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 956 | &nbsp;&nbsp; 71432 |
|  |  | &nbsp;&nbsp; 1185249 |

---

------

**VALIC Company I Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Private Equity — 0.1%** | **Private Equity — 0.1%** | **Private Equity — 0.1%** |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | 11393 | &nbsp;&nbsp; $1291624 |
| &nbsp;&nbsp;&nbsp; KKR & Co., Inc. | 2708 | &nbsp;&nbsp; 237438 |
|  |  | &nbsp;&nbsp; 1529062 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc., Class A† | 484 | &nbsp;&nbsp; 71467 |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc.† | 766 | &nbsp;&nbsp; 34187 |
| &nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.† | 211 | &nbsp;&nbsp; 66581 |
|  |  | &nbsp;&nbsp; 172235 |
| **REITS — 0.1%** | **REITS — 0.1%** | **REITS — 0.1%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | 7185 | &nbsp;&nbsp; 1378514 |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co., Class A | 1308 | &nbsp;&nbsp; 180164 |
| &nbsp;&nbsp;&nbsp; Public Storage | 311 | &nbsp;&nbsp; 95495 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 1134 | &nbsp;&nbsp; 231166 |
| &nbsp;&nbsp;&nbsp; Sun Communities, Inc. | 358 | &nbsp;&nbsp; 48853 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. | 354 | &nbsp;&nbsp; 13275 |
|  |  | &nbsp;&nbsp; 1947467 |
| **Retail — 1.9%** | **Retail — 1.9%** | **Retail — 1.9%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 39 | &nbsp;&nbsp; 146468 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc.† | 286 | &nbsp;&nbsp; 28254 |
| &nbsp;&nbsp;&nbsp; Burlington Stores, Inc.† | 985 | &nbsp;&nbsp; 302267 |
| &nbsp;&nbsp;&nbsp; Carvana Co.† | 2076 | &nbsp;&nbsp; 693716 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | 93 | &nbsp;&nbsp; 63760 |
| &nbsp;&nbsp;&nbsp; Cava Group, Inc.† | 1549 | &nbsp;&nbsp; 127746 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.† | 20219 | &nbsp;&nbsp; 752551 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 6818 | &nbsp;&nbsp; 6891566 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 1704 | &nbsp;&nbsp; 364400 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 142 | &nbsp;&nbsp; 57156 |
| &nbsp;&nbsp;&nbsp; Dutch Bros, Inc., Class A† | 1726 | &nbsp;&nbsp; 92531 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. | 200 | &nbsp;&nbsp; 52152 |
| &nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc., Class A† | 563 | &nbsp;&nbsp; 38898 |
| &nbsp;&nbsp;&nbsp; Freshpet, Inc.† | 218 | &nbsp;&nbsp; 18410 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 11655 | &nbsp;&nbsp; 4437292 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. | 41 | &nbsp;&nbsp; 11463 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.† | 926 | &nbsp;&nbsp; 171467 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 645 | &nbsp;&nbsp; 219984 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 269 | &nbsp;&nbsp; 105109 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 11892 | &nbsp;&nbsp; 1116421 |
| &nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc.# | 3277 | &nbsp;&nbsp; 234994 |
| &nbsp;&nbsp;&nbsp; RH† | 63 | &nbsp;&nbsp; 10440 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 1023 | &nbsp;&nbsp; 210370 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | 2261 | &nbsp;&nbsp; 221623 |
| &nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. | 994 | &nbsp;&nbsp; 181773 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 8590 | &nbsp;&nbsp; 1388659 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | 8165 | &nbsp;&nbsp; 423274 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 169 | &nbsp;&nbsp; 115729 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 121992 | &nbsp;&nbsp; 15608876 |
| &nbsp;&nbsp;&nbsp; Wendy's Co.# | 1248 | &nbsp;&nbsp; 9560 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 262 | &nbsp;&nbsp; 53880 |
| &nbsp;&nbsp;&nbsp; Wingstop, Inc.# | 453 | &nbsp;&nbsp; 117558 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 1488 | &nbsp;&nbsp; 250222 |
|  |  | &nbsp;&nbsp; 34518569 |
| **Semiconductors — 22.3%** | **Semiconductors — 22.3%** | **Semiconductors — 22.3%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 14469 | &nbsp;&nbsp; 2896838 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 3494 | &nbsp;&nbsp; 1300816 |
| &nbsp;&nbsp;&nbsp; Astera Labs, Inc.† | 1907 | &nbsp;&nbsp; 226609 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 258567 | &nbsp;&nbsp; 82625085 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 757433 | &nbsp;&nbsp; 34546519 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 2021 | &nbsp;&nbsp; 3081116 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 125919 | &nbsp;&nbsp; 29451195 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.† | 1853 | &nbsp;&nbsp; $177184 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc.† | 226 | &nbsp;&nbsp; 56075 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. | 1040 | &nbsp;&nbsp; 84958 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 711 | &nbsp;&nbsp; 812488 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 1338204 | &nbsp;&nbsp; 237116367 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc.† | 156 | &nbsp;&nbsp; 33679 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 3793 | &nbsp;&nbsp; 539971 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 5711 | &nbsp;&nbsp; 1211360 |
|  |  | &nbsp;&nbsp; 394160260 |
| **Software — 11.5%** | **Software — 11.5%** | **Software — 11.5%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 6420 | &nbsp;&nbsp; 1684672 |
| &nbsp;&nbsp;&nbsp; Appfolio, Inc., Class A† | 356 | &nbsp;&nbsp; 63283 |
| &nbsp;&nbsp;&nbsp; Atlassian Corp., Class A† | 2500 | &nbsp;&nbsp; 187825 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 3272 | &nbsp;&nbsp; 804487 |
| &nbsp;&nbsp;&nbsp; Bentley Systems, Inc., Class B | 2363 | &nbsp;&nbsp; 86368 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 1626 | &nbsp;&nbsp; 302225 |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.† | 4191 | &nbsp;&nbsp; 1263167 |
| &nbsp;&nbsp;&nbsp; Cloudflare, Inc., Class A† | 4815 | &nbsp;&nbsp; 829095 |
| &nbsp;&nbsp;&nbsp; Confluent, Inc., Class A† | 4708 | &nbsp;&nbsp; 144394 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc., Class A† | 316175 | &nbsp;&nbsp; 35398953 |
| &nbsp;&nbsp;&nbsp; DocuSign, Inc.† | 2498 | &nbsp;&nbsp; 112585 |
| &nbsp;&nbsp;&nbsp; DoubleVerify Holdings, Inc.† | 1184 | &nbsp;&nbsp; 12479 |
| &nbsp;&nbsp;&nbsp; Doximity, Inc., Class A† | 2227 | &nbsp;&nbsp; 54628 |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc., Class A† | 930 | &nbsp;&nbsp; 23241 |
| &nbsp;&nbsp;&nbsp; Duolingo, Inc.† | 562 | &nbsp;&nbsp; 56762 |
| &nbsp;&nbsp;&nbsp; Dynatrace, Inc.† | 4407 | &nbsp;&nbsp; 158299 |
| &nbsp;&nbsp;&nbsp; Elastic NV† | 1429 | &nbsp;&nbsp; 74408 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.† | 297 | &nbsp;&nbsp; 418580 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc.† | 2251 | &nbsp;&nbsp; 140215 |
| &nbsp;&nbsp;&nbsp; Gitlab, Inc., Class A† | 2156 | &nbsp;&nbsp; 56703 |
| &nbsp;&nbsp;&nbsp; Guidewire Software, Inc.† | 1288 | &nbsp;&nbsp; 187172 |
| &nbsp;&nbsp;&nbsp; HubSpot, Inc.† | 795 | &nbsp;&nbsp; 210285 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 4194 | &nbsp;&nbsp; 1715472 |
| &nbsp;&nbsp;&nbsp; Manhattan Associates, Inc.† | 975 | &nbsp;&nbsp; 132044 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 328124 | &nbsp;&nbsp; 128867420 |
| &nbsp;&nbsp;&nbsp; MongoDB, Inc.† | 111 | &nbsp;&nbsp; 36460 |
| &nbsp;&nbsp;&nbsp; MSCI, Inc. | 544 | &nbsp;&nbsp; 311076 |
| &nbsp;&nbsp;&nbsp; nCino, Inc.† | 221 | &nbsp;&nbsp; 3567 |
| &nbsp;&nbsp;&nbsp; Nutanix, Inc., Class A† | 873 | &nbsp;&nbsp; 33418 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 25855 | &nbsp;&nbsp; 3759317 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 68461 | &nbsp;&nbsp; 9392165 |
| &nbsp;&nbsp;&nbsp; Paychex, Inc. | 1642 | &nbsp;&nbsp; 153773 |
| &nbsp;&nbsp;&nbsp; Paycom Software, Inc.# | 413 | &nbsp;&nbsp; 51968 |
| &nbsp;&nbsp;&nbsp; Pegasystems, Inc. | 427 | &nbsp;&nbsp; 18673 |
| &nbsp;&nbsp;&nbsp; Procore Technologies, Inc.† | 1759 | &nbsp;&nbsp; 96815 |
| &nbsp;&nbsp;&nbsp; PTC, Inc.† | 204 | &nbsp;&nbsp; 31944 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc., Class A#† | 1174 | &nbsp;&nbsp; 42792 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp., Class A† | 9526 | &nbsp;&nbsp; 654055 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 1598 | &nbsp;&nbsp; 311274 |
| &nbsp;&nbsp;&nbsp; Samsara, Inc., Class A† | 4792 | &nbsp;&nbsp; 138489 |
| &nbsp;&nbsp;&nbsp; SentinelOne, Inc., Class A† | 3112 | &nbsp;&nbsp; 40829 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 15872 | &nbsp;&nbsp; 1714335 |
| &nbsp;&nbsp;&nbsp; Snowflake, Inc.† | 72448 | &nbsp;&nbsp; 12200968 |
| &nbsp;&nbsp;&nbsp; Strategy, Inc.#† | 226 | &nbsp;&nbsp; 29267 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc.† | 2081 | &nbsp;&nbsp; 861534 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.† | 949 | &nbsp;&nbsp; 200695 |
| &nbsp;&nbsp;&nbsp; Teradata Corp.† | 321 | &nbsp;&nbsp; 10108 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A† | 334 | &nbsp;&nbsp; 40401 |
| &nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.† | 558 | &nbsp;&nbsp; 197917 |
| &nbsp;&nbsp;&nbsp; Unity Software, Inc.† | 288 | &nbsp;&nbsp; 5250 |

---

------

**VALIC Company I Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc., Class A† | 1793 | &nbsp;&nbsp; $326344 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 3305 | &nbsp;&nbsp; 442077 |
|  |  | &nbsp;&nbsp; 204090273 |
| **Telecommunications — 2.1%** | **Telecommunications — 2.1%** | **Telecommunications — 2.1%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 278143 | &nbsp;&nbsp; 37132091 |
| &nbsp;&nbsp;&nbsp; AST SpaceMobile, Inc.† | 3099 | &nbsp;&nbsp; 245410 |
| &nbsp;&nbsp;&nbsp; GCI Liberty, Inc., Class A† | 1 | &nbsp;&nbsp; 40 |
| &nbsp;&nbsp;&nbsp; Iridium Communications, Inc. | 11 | &nbsp;&nbsp; 263 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 1078 | &nbsp;&nbsp; 519876 |
| &nbsp;&nbsp;&nbsp; Ubiquiti, Inc. | 60 | &nbsp;&nbsp; 46019 |
|  |  | &nbsp;&nbsp; 37943699 |
| **Transportation — 1.7%** | **Transportation — 1.7%** | **Transportation — 1.7%** |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 159036 | &nbsp;&nbsp; 29461419 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 155 | &nbsp;&nbsp; 31473 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 715 | &nbsp;&nbsp; 189460 |
| &nbsp;&nbsp;&nbsp; XPO, Inc.† | 349 | &nbsp;&nbsp; 73454 |
|  |  | &nbsp;&nbsp; 29755806 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $1,308,426,164)<br>|  | &nbsp;&nbsp; 1714669117 |
| **CONVERTIBLE PREFERRED STOCKS — 2.7%** | **CONVERTIBLE PREFERRED STOCKS — 2.7%** | **CONVERTIBLE PREFERRED STOCKS — 2.7%** |
| **Internet — 0.7%** | **Internet — 0.7%** | **Internet — 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ByteDance, Ltd. <br>Series E-1†(1)(2)<br>| 47885 | &nbsp;&nbsp; 12500858 |
| **Software — 2.0%** | **Software — 2.0%** | **Software — 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Databricks, Inc. <br>Series D †(1)(2)<br>| 163280 | &nbsp;&nbsp; 27935575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Databricks, Inc. <br>Series J†(1)(2)<br>| 48194 | &nbsp;&nbsp; 8245512 |
|  |  | &nbsp;&nbsp; 36181087 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Preferred Stocks** <br>(cost $24,808,305)<br>|  | &nbsp;&nbsp; 48681945 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $1,333,234,469)<br>|  | &nbsp;&nbsp; 1763351062 |
| **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** | **SHORT-TERM INVESTMENTS — 0.5%** |
| **Unaffiliated Investment Companies — 0.5%** | **Unaffiliated Investment Companies — 0.5%** | **Unaffiliated Investment Companies — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional Treasury Money Market Fund, <br> Premier Class <br>3.60%(3)<br>| 5823607 | &nbsp;&nbsp; 5823607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(3)<br>| 2476038 | &nbsp;&nbsp; 2476038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(3)(4)<br>| 81405 | &nbsp;&nbsp; 81405 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $8,381,050)<br>|  | &nbsp;&nbsp; 8381050 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $1,341,615,519)<br>| 100.0<br> %<br>| &nbsp;&nbsp; 1771732112 |
| Other assets less liabilities | (0.0)<br>| &nbsp;&nbsp; (458377)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $1771273735 |

---

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

† Non-income producing security <br> # The security or a portion thereof is out on loan.

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Securities classified as Level 3 (see Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Denotes a restricted security that: (a) cannot be offered for public sale without
 first being registered, or being able to take advantage of an exemption from registration, under
 the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales
 by operation of applicable law. Restricted securities are valued pursuant to Note 1.
 Certain restricted securities held by the Fund may not be sold except in exempt transactions
 or in a public offering registered under the 1933 Act. The Fund has no right to demand registration of these securities. The risk of investing in certain restricted securities
 is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Fund to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit
 greater price volatility than securities for which secondary markets exist. As of February
 28, 2026, the Fund held the following restricted securities:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** |
| &nbsp;&nbsp;&nbsp; ByteDance, Ltd. <br>Series E-1<br>| 12/10/20 | 47885 | $5246960 | $12500858 | $261.06 | 0.7<br> %<br>|
| &nbsp;&nbsp;&nbsp; Databricks, Inc. <br>Series D<br>| 03/27/25 | 163280 | 15103400 | 27935575 | 171.09 | 1.6 |
| &nbsp;&nbsp;&nbsp; Databricks, Inc. <br>Series J<br>| 01/21/25 | 48194 | 4457945 | 8245512 | 171.09 | 0.4 |
|  |  |  |  | $48681945 |  | 2.7<br> %\*\*<br>|

---

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

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Fund and may not equal the sum of the individual percentages shown due to rounding. 

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) At February 28, 2026, the Fund had loaned securities with a total value of $1,775,444. This was secured by collateral of $81,405, which was received in cash and subsequently invested in short-term investments currently valued at $81,405 as reported in the Portfolio of Investments. Additional collateral of $1,781,401 was received in the
 form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components of the fixed
 income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $1932 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 9729 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 9310 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 08/15/2055 | 1760430 |

---

------

**VALIC Company I Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 12 | Long | E-Mini Russell 1000 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $2739946 | &nbsp;&nbsp;&nbsp;&nbsp; $2723580 | &nbsp;&nbsp;&nbsp;&nbsp; $(16366)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $1714669117 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1714669117 |
| Convertible Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 48681945 | &nbsp;&nbsp; 48681945 |
| Short-Term Investments | &nbsp;&nbsp; 8381050 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 8381050 |
| **Total Investments at Value** | &nbsp;&nbsp; $1723050167 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $48681945 | &nbsp;&nbsp; $1771732112 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $16366 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $16366 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

---

| | |
|:---|:---|
|  | **Convertible** <br>**Preferred Securities**<br>|
| Balance as of May 31, 2025 | &nbsp;&nbsp; $31211839 |
| Accrued Discounts | &nbsp;&nbsp; — |
| Accrued Premiums | &nbsp;&nbsp; — |
| Realized Gain | &nbsp;&nbsp; — |
| Realized Loss | &nbsp;&nbsp; — |
| Change in unrealized appreciation(1) | &nbsp;&nbsp; 17470106 |
| Change in unrealized depreciation(1) | &nbsp;&nbsp; — |
| Net purchases | &nbsp;&nbsp; — |
| Net sales | &nbsp;&nbsp; — |
| Transfers into Level 3 | &nbsp;&nbsp; — |
| Transfers out of Level 3 | &nbsp;&nbsp; — |
| Balance as of February 28, 2026 | &nbsp;&nbsp; $48681945 |

---

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

---

| |
|:---|
| **Convertible** <br>**Preferred Securities**<br>|
| &nbsp;&nbsp; $17470106 |

---

Any differences between the change in appreciation (depreciation) in the Level 3 reconciliation and the total change in unrealized appreciation (depreciation) is attributable to securities sold/no longer held at February 28, 2026.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Fair Value at** <br>**February 28, 2026**<br>| &nbsp;&nbsp; **Valuation** <br>**Technique(s)**<br>| &nbsp;&nbsp; **Unobservable** <br>**Input (1)**<br>| &nbsp;&nbsp; **Range** <br>**(weighted** <br>**average)**<br>|
| Convertible Preferred Securities | &nbsp;&nbsp; $36181087 | Market Approach | Current Year Revenue Multiple\* | 21.00x |
|  | &nbsp;&nbsp; $12500858 | Market Approach | Last Twelve Months Revenue Multiple\* | 1.40x |

---

(1) The significant unobservable inputs regarding the Level 3 securities in the table above are attributable to private securities and include assumptions made from non-public financial statements,private transactions, and/or market comparables. For those unobservable inputs indicated with \*, a significant increase (decrease) in any of those inputs in isolation may result in a significantly higher(lower) fair value measurement, while the remaining unobservable inputs have an inverse relationship.

See Notes to Portfolio of Investments

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES — 90.2%** | **CORPORATE BONDS & NOTES — 90.2%** | **CORPORATE BONDS & NOTES — 90.2%** |
| **Advertising — 1.6%** | **Advertising — 1.6%** | **Advertising — 1.6%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 02/15/2031\* | $1281000 | &nbsp;&nbsp; $1354031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/15/2033\* | 701000 | &nbsp;&nbsp; 756744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/01/2030\* | 856000 | &nbsp;&nbsp; 902056 |
| &nbsp;&nbsp;&nbsp; Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/2028 | 450000 | &nbsp;&nbsp; 442493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/01/2033\* | 748000 | &nbsp;&nbsp; 749954 |
| &nbsp;&nbsp;&nbsp; Neptune Bidco US, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 02/15/2033\* | 1375000 | &nbsp;&nbsp; 1345837 |
|  |  | &nbsp;&nbsp; 5551115 |
| **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** | **Aerospace/Defense — 1.6%** |
| &nbsp;&nbsp;&nbsp; ATI, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/01/2029 | 893000 | &nbsp;&nbsp; 891836 |
| &nbsp;&nbsp;&nbsp; TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 05/01/2029 | 125000 | &nbsp;&nbsp; 124780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 01/15/2033\* | 203000 | &nbsp;&nbsp; 206591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/31/2034\* | 520000 | &nbsp;&nbsp; 528183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/31/2034\* | 195000 | &nbsp;&nbsp; 201727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 05/31/2033\* | 1415000 | &nbsp;&nbsp; 1444196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 08/15/2028\* | 540000 | &nbsp;&nbsp; 549615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/31/2034\* | 957000 | &nbsp;&nbsp; 993157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 12/01/2031\* | 391000 | &nbsp;&nbsp; 409803 |
|  |  | &nbsp;&nbsp; 5349888 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 06/15/2030\* | 642000 | &nbsp;&nbsp; 650192 |
| **Airlines — 0.4%** | **Airlines — 0.4%** | **Airlines — 0.4%** |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>9.88%, 09/20/2031\* | 1347000 | &nbsp;&nbsp; 1368883 |
| **Apparel — 1.5%** | **Apparel — 1.5%** | **Apparel — 1.5%** |
| &nbsp;&nbsp;&nbsp; Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 07/15/2033\*(1) | 1090940 | &nbsp;&nbsp; 1205492 |
| &nbsp;&nbsp;&nbsp; Under Armour, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 07/15/2030\* | 2020000 | &nbsp;&nbsp; 2086341 |
| &nbsp;&nbsp;&nbsp; Wolverine World Wide |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 08/15/2029\* | 1845000 | &nbsp;&nbsp; 1743423 |
|  |  | &nbsp;&nbsp; 5035256 |
| **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** | **Auto Manufacturers — 0.5%** |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.35%, 09/17/2027\* | 1220000 | &nbsp;&nbsp; 1210932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 07/17/2032\* | 450000 | &nbsp;&nbsp; 481214 |
|  |  | &nbsp;&nbsp; 1692146 |
| **Auto Parts & Equipment — 0.9%** | **Auto Parts & Equipment — 0.9%** | **Auto Parts & Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/15/2028\* | 400000 | &nbsp;&nbsp; 407857 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP/Clarios US Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/2032\* | 1001000 | &nbsp;&nbsp; 1039063 |
| &nbsp;&nbsp;&nbsp; Forvia SE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/15/2033\* | 635000 | &nbsp;&nbsp; 654013 |
| &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 08/15/2032\* | 464000 | &nbsp;&nbsp; 474749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 08/15/2033\* | 294000 | &nbsp;&nbsp; 305260 |
|  |  | &nbsp;&nbsp; 2880942 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** | **Biotechnology — 0.2%** |
| &nbsp;&nbsp;&nbsp; Genmab A/S/Genmab Finance LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 12/15/2032\* |  | $415000 | &nbsp;&nbsp; $430697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/15/2033\* |  | 200000 | &nbsp;&nbsp; 212227 |
|  |  |  | &nbsp;&nbsp; 642924 |
| **Building Materials — 2.1%** | **Building Materials — 2.1%** | **Building Materials — 2.1%** | **Building Materials — 2.1%** |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/2032\* |  | 323000 | &nbsp;&nbsp; 308051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/01/2030\* |  | 2044000 | &nbsp;&nbsp; 2028871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 05/15/2035\* |  | 202000 | &nbsp;&nbsp; 210800 |
| &nbsp;&nbsp;&nbsp; CP Atlas Buyer, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 07/15/2030\* |  | 1786000 | &nbsp;&nbsp; 1787695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.75%, 01/15/2031\*(1) |  | 877805 | &nbsp;&nbsp; 788244 |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/01/2032\* |  | 565000 | &nbsp;&nbsp; 587203 |
| &nbsp;&nbsp;&nbsp; Standard Building Solutions, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/15/2032\* |  | 356000 | &nbsp;&nbsp; 366444 |
| &nbsp;&nbsp;&nbsp; Standard Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/15/2030\* |  | 1088000 | &nbsp;&nbsp; 1049637 |
|  |  |  | &nbsp;&nbsp; 7126945 |
| **Chemicals — 1.3%** | **Chemicals — 1.3%** | **Chemicals — 1.3%** | **Chemicals — 1.3%** |
| &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/2031 |  | 310000 | &nbsp;&nbsp; 319297 |
| &nbsp;&nbsp;&nbsp; Olympus Water US Holding Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/2033\* | EUR | 469000 | &nbsp;&nbsp; 559725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/01/2029\*# |  | 567000 | &nbsp;&nbsp; 554298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/2031\* |  | 400000 | &nbsp;&nbsp; 409258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 02/15/2033\* |  | 1770000 | &nbsp;&nbsp; 1761978 |
| &nbsp;&nbsp;&nbsp; Tronox, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 09/30/2030\*# |  | 879000 | &nbsp;&nbsp; 863097 |
|  |  |  | &nbsp;&nbsp; 4467653 |
| **Commercial Services — 4.6%** | **Commercial Services — 4.6%** | **Commercial Services — 4.6%** | **Commercial Services — 4.6%** |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 02/15/2031\* |  | 3104000 | &nbsp;&nbsp; 3279402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 06/15/2030\* |  | 470000 | &nbsp;&nbsp; 489200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance <br> Corp./Atlas Luxco 4 Sarl<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 06/01/2028 | GBP | 932000 | &nbsp;&nbsp; 1242269 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget Finance, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 06/15/2032\* |  | 1814000 | &nbsp;&nbsp; 1783820 |
| &nbsp;&nbsp;&nbsp; Belron UK Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2029\* |  | 870000 | &nbsp;&nbsp; 889277 |
| &nbsp;&nbsp;&nbsp; Block, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 08/15/2030\* |  | 708000 | &nbsp;&nbsp; 717283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 08/15/2033\* |  | 374000 | &nbsp;&nbsp; 380054 |
| &nbsp;&nbsp;&nbsp; Deluxe Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 09/15/2029\* |  | 765000 | &nbsp;&nbsp; 802426 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 08/01/2032\* |  | 1641000 | &nbsp;&nbsp; 1677327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 11/15/2032\* |  | 1563000 | &nbsp;&nbsp; 1600818 |
| &nbsp;&nbsp;&nbsp; Hertz Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.63%, 07/15/2029\*# |  | 667000 | &nbsp;&nbsp; 615037 |
| &nbsp;&nbsp;&nbsp; Service Corp. International |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 08/15/2030 |  | 854000 | &nbsp;&nbsp; 802647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2032 |  | 314000 | &nbsp;&nbsp; 320126 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 08/15/2032\* |  | 880000 | &nbsp;&nbsp; 861346 |
|  |  |  | &nbsp;&nbsp; 15461032 |

---

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Computers — 1.8%** | **Computers — 1.8%** | **Computers — 1.8%** |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 08/01/2032\* | $1557000 | &nbsp;&nbsp; $1631478 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 06/15/2033\* | 543000 | &nbsp;&nbsp; 559014 |
| &nbsp;&nbsp;&nbsp; Fortress Intermediate 3, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 06/01/2031\* | 930000 | &nbsp;&nbsp; 909228 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/15/2032\* | 1875000 | &nbsp;&nbsp; 1879695 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 11/01/2033\* | 1106000 | &nbsp;&nbsp; 1099181 |
|  |  | &nbsp;&nbsp; 6078596 |
| **Distribution/Wholesale — 0.9%** | **Distribution/Wholesale — 0.9%** | **Distribution/Wholesale — 0.9%** |
| &nbsp;&nbsp;&nbsp; Velocity Vehicle Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 06/01/2029\* | 1447000 | &nbsp;&nbsp; 1372096 |
| &nbsp;&nbsp;&nbsp; Windsor Holdings III LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 06/15/2030\* | 1448000 | &nbsp;&nbsp; 1518434 |
|  |  | &nbsp;&nbsp; 2890530 |
| **Diversified Financial Services — 6.4%** | **Diversified Financial Services — 6.4%** | **Diversified Financial Services — 6.4%** |
| &nbsp;&nbsp;&nbsp; Azorra Finance, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/15/2034\* | 350000 | &nbsp;&nbsp; 344174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 01/15/2031\* | 1592000 | &nbsp;&nbsp; 1661559 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 03/15/2030\* | 789000 | &nbsp;&nbsp; 784885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 12/15/2028\* | 1000000 | &nbsp;&nbsp; 1044853 |
| &nbsp;&nbsp;&nbsp; CrossCountry Intermediate HoldCo. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 10/01/2030\* | 182000 | &nbsp;&nbsp; 181278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/01/2032\* | 1500000 | &nbsp;&nbsp; 1484639 |
| &nbsp;&nbsp;&nbsp; Freedom Mtg. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/01/2033\* | 468000 | &nbsp;&nbsp; 461288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 04/01/2032\* | 886000 | &nbsp;&nbsp; 892645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 05/15/2031\* | 250000 | &nbsp;&nbsp; 258780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 02/01/2029\* | 1323000 | &nbsp;&nbsp; 1381847 |
| &nbsp;&nbsp;&nbsp; Hightower Holding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 01/31/2030\* | 936000 | &nbsp;&nbsp; 968094 |
| &nbsp;&nbsp;&nbsp; Nationstar Mtg. Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 02/01/2032\* | 575000 | &nbsp;&nbsp; 569250 |
| &nbsp;&nbsp;&nbsp; OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 11/15/2029 | 1066000 | &nbsp;&nbsp; 1053911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 05/15/2030 | 836000 | &nbsp;&nbsp; 838494 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/15/2031\* | 484000 | &nbsp;&nbsp; 469894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/15/2033\* | 435000 | &nbsp;&nbsp; 435482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 11/15/2030\* | 1129000 | &nbsp;&nbsp; 1160639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 12/15/2029\* | 895000 | &nbsp;&nbsp; 939691 |
| &nbsp;&nbsp;&nbsp; Planet Financial Group LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.50%, 12/15/2029\* | 1722000 | &nbsp;&nbsp; 1662623 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 08/01/2030\* | 995000 | &nbsp;&nbsp; 1020824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 08/01/2029\* | 250000 | &nbsp;&nbsp; 256842 |
| &nbsp;&nbsp;&nbsp; Stonebriar ABF Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 12/15/2030\* | 875000 | &nbsp;&nbsp; 919917 |
| &nbsp;&nbsp;&nbsp; TrueNoord Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 03/01/2030\* | 1472000 | &nbsp;&nbsp; 1553218 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mtg. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 04/15/2029\* | 1278000 | &nbsp;&nbsp; 1253377 |
|  |  | &nbsp;&nbsp; 21598204 |
| **Electric — 1.3%** | **Electric — 1.3%** | **Electric — 1.3%** |
| &nbsp;&nbsp;&nbsp; Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/15/2031\* | 2106000 | &nbsp;&nbsp; 1995106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 01/15/2032\* | 90000 | &nbsp;&nbsp; 83703 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/15/2028\* |  | $1140000 | &nbsp;&nbsp; $1136278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/2034\* |  | 190000 | &nbsp;&nbsp; 192504 |
| &nbsp;&nbsp;&nbsp; VoltaGrid LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 11/01/2030\* |  | 877000 | &nbsp;&nbsp; 915756 |
|  |  |  | &nbsp;&nbsp; 4323347 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| &nbsp;&nbsp;&nbsp; Imola Merger Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.75%, 05/15/2029\* |  | 1721000 | &nbsp;&nbsp; 1691838 |
| **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** | **Engineering & Construction — 0.5%** |
| &nbsp;&nbsp;&nbsp; AECOM |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.00%, 08/01/2033\* |  | 1613000 | &nbsp;&nbsp; 1648102 |
| **Entertainment — 4.0%** | **Entertainment — 4.0%** | **Entertainment — 4.0%** | **Entertainment — 4.0%** |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 10/15/2032\*# |  | 2556000 | &nbsp;&nbsp; 2498532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/2032\* |  | 410000 | &nbsp;&nbsp; 416641 |
| &nbsp;&nbsp;&nbsp; Cinemark USA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/2028\* |  | 1486000 | &nbsp;&nbsp; 1486267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 08/01/2032\* |  | 131000 | &nbsp;&nbsp; 136439 |
| &nbsp;&nbsp;&nbsp; Cirsa Finance International Sarl |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 07/31/2028\* | EUR | 775000 | &nbsp;&nbsp; 951481 |
| &nbsp;&nbsp;&nbsp; Flutter Treasury DAC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/04/2031\* |  | 620000 | &nbsp;&nbsp; 618223 |
| &nbsp;&nbsp;&nbsp; Great Canadian Gaming Corp./Raptor LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 11/15/2029\* |  | 796000 | &nbsp;&nbsp; 809050 |
| &nbsp;&nbsp;&nbsp; Speedway Motorsports LLC/Speedway Funding II, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/01/2027\* |  | 1575000 | &nbsp;&nbsp; 1568814 |
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.28%, 03/15/2032 |  | 1016000 | &nbsp;&nbsp; 933450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/2042 |  | 1264000 | &nbsp;&nbsp; 887960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 03/15/2052 |  | 189000 | &nbsp;&nbsp; 123795 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/15/2033\* |  | 213000 | &nbsp;&nbsp; 217524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 02/15/2031\* |  | 2608000 | &nbsp;&nbsp; 2816483 |
|  |  |  | &nbsp;&nbsp; 13464659 |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.75%, 10/15/2033\* |  | 1076000 | &nbsp;&nbsp; 1101432 |
| **Food — 3.6%** | **Food — 3.6%** | **Food — 3.6%** | **Food — 3.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Albertsons Cos., Inc./Safeway, Inc./New Albertsons <br> LP/Albertsons LLC<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/31/2031\* |  | 800000 | &nbsp;&nbsp; 805384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/31/2034\* |  | 456000 | &nbsp;&nbsp; 453733 |
| &nbsp;&nbsp;&nbsp; Altice France |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/31/2099\* | EUR | 669 | &nbsp;&nbsp; 107 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/2027# |  | 632000 | &nbsp;&nbsp; 613018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 09/15/2028\* |  | 829000 | &nbsp;&nbsp; 804197 |
| &nbsp;&nbsp;&nbsp; Bellis Acquisition Co. PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 07/01/2031\* | EUR | 1472000 | &nbsp;&nbsp; 1655460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 05/14/2030 | GBP | 100000 | &nbsp;&nbsp; 124000 |
| &nbsp;&nbsp;&nbsp; Industrial F&B Investments III, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 02/11/2033\* |  | 3450000 | &nbsp;&nbsp; 3540853 |
| &nbsp;&nbsp;&nbsp; Performance Food Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 08/01/2029\* |  | 655000 | &nbsp;&nbsp; 642640 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/15/2030\* |  | 700000 | &nbsp;&nbsp; 685194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/15/2034\*# |  | 927000 | &nbsp;&nbsp; 946773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/01/2033\* |  | 1000000 | &nbsp;&nbsp; 1017882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 03/15/2036\* |  | 880000 | &nbsp;&nbsp; 895212 |
|  |  |  | &nbsp;&nbsp; 12184453 |

---

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Gas — 0.3%** | **Gas — 0.3%** | **Gas — 0.3%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>9.50%, 06/01/2030\* | $816000 | &nbsp;&nbsp; $873423 |
| **Healthcare-Products — 1.5%** | **Healthcare-Products — 1.5%** | **Healthcare-Products — 1.5%** |
| &nbsp;&nbsp;&nbsp; Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/2028\* | 2485000 | &nbsp;&nbsp; 2462347 |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/01/2029\* | 1705000 | &nbsp;&nbsp; 1676887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/01/2029\* | 979000 | &nbsp;&nbsp; 978922 |
|  |  | &nbsp;&nbsp; 5118156 |
| **Healthcare-Services — 3.1%** | **Healthcare-Services — 3.1%** | **Healthcare-Services — 3.1%** |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/2031\*# | 1439000 | &nbsp;&nbsp; 1320270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/2030\* | 425000 | &nbsp;&nbsp; 408354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/15/2029\* | 585000 | &nbsp;&nbsp; 565114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 01/15/2034\* | 540000 | &nbsp;&nbsp; 569062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.88%, 01/15/2032\* | 1628000 | &nbsp;&nbsp; 1764306 |
| &nbsp;&nbsp;&nbsp; IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 06/01/2032\* | 1303000 | &nbsp;&nbsp; 1340365 |
| &nbsp;&nbsp;&nbsp; Star Parent, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 10/01/2030\* | 1284000 | &nbsp;&nbsp; 1303215 |
| &nbsp;&nbsp;&nbsp; Surgery Center Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 04/15/2032\*# | 834000 | &nbsp;&nbsp; 832988 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/2033\* | 846000 | &nbsp;&nbsp; 874282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 06/15/2030 | 1375000 | &nbsp;&nbsp; 1402423 |
|  |  | &nbsp;&nbsp; 10380379 |
| **Home Builders — 2.4%** | **Home Builders — 2.4%** | **Home Builders — 2.4%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 08/01/2029\* | 1218000 | &nbsp;&nbsp; 1186791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/01/2030\* | 563000 | &nbsp;&nbsp; 537783 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 08/15/2029\* | 1705000 | &nbsp;&nbsp; 1625491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/15/2033\* | 1046000 | &nbsp;&nbsp; 1062856 |
| &nbsp;&nbsp;&nbsp; KB Home |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/15/2029 | 510000 | &nbsp;&nbsp; 509262 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 02/15/2030 | 1856000 | &nbsp;&nbsp; 1787561 |
| &nbsp;&nbsp;&nbsp; STL Holding Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 02/15/2029\* | 1177000 | &nbsp;&nbsp; 1233975 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2032\* | 195000 | &nbsp;&nbsp; 201492 |
|  |  | &nbsp;&nbsp; 8145211 |
| **Housewares — 0.4%** | **Housewares — 0.4%** | **Housewares — 0.4%** |
| &nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.63%, 05/15/2032# | 1223000 | &nbsp;&nbsp; 1222942 |
| **Insurance — 3.2%** | **Insurance — 3.2%** | **Insurance — 3.2%** |
| &nbsp;&nbsp;&nbsp; Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 07/01/2032\* | 802000 | &nbsp;&nbsp; 786560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 11/06/2030\* | 1648000 | &nbsp;&nbsp; 1677097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 06/15/2029\* | 1141000 | &nbsp;&nbsp; 1138380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co.-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 10/01/2032\* | 2459000 | &nbsp;&nbsp; 2431401 |
| &nbsp;&nbsp;&nbsp; Asurion LLC & Asurion Co.-Issuer, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 12/31/2032\* | 1748000 | &nbsp;&nbsp; 1835938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 02/01/2034\* | 565000 | &nbsp;&nbsp; 562269 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; HUB International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 06/15/2030\* | $693000 | &nbsp;&nbsp; $714798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 01/31/2032\* | 1441000 | &nbsp;&nbsp; 1466686 |
|  |  | &nbsp;&nbsp; 10613129 |
| **Internet — 0.5%** | **Internet — 0.5%** | **Internet — 0.5%** |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 12/15/2029\*(2) | 900000 | &nbsp;&nbsp; 931458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.75%, 04/15/2029\* | 725000 | &nbsp;&nbsp; 804142 |
|  |  | &nbsp;&nbsp; 1735600 |
| **Iron/Steel — 0.7%** | **Iron/Steel — 0.7%** | **Iron/Steel — 0.7%** |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/01/2034\* | 860000 | &nbsp;&nbsp; 876924 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/2033\* | 570000 | &nbsp;&nbsp; 581563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/15/2035\* | 795000 | &nbsp;&nbsp; 814277 |
|  |  | &nbsp;&nbsp; 2272764 |
| **Leisure Time — 1.2%** | **Leisure Time — 1.2%** | **Leisure Time — 1.2%** |
| &nbsp;&nbsp;&nbsp; NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 01/15/2031\* | 847000 | &nbsp;&nbsp; 855919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 09/15/2033\* | 804000 | &nbsp;&nbsp; 811513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/01/2032\* | 1290000 | &nbsp;&nbsp; 1328487 |
| &nbsp;&nbsp;&nbsp; Viking Cruises, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 10/15/2033\* | 964000 | &nbsp;&nbsp; 983434 |
|  |  | &nbsp;&nbsp; 3979353 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp; Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.63%, 03/15/2032\* | 903000 | &nbsp;&nbsp; 924420 |
| **Machinery-Diversified — 0.2%** | **Machinery-Diversified — 0.2%** | **Machinery-Diversified — 0.2%** |
| &nbsp;&nbsp;&nbsp; TK Elevator US Newco, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.25%, 07/15/2027\* | 795000 | &nbsp;&nbsp; 794677 |
| **Media — 7.6%** | **Media — 7.6%** | **Media — 7.6%** |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/01/2031\* | 2213000 | &nbsp;&nbsp; 2062738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/2034\* | 279000 | &nbsp;&nbsp; 243037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/2030\* | 1334000 | &nbsp;&nbsp; 1272406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 05/01/2032 | 1000000 | &nbsp;&nbsp; 915154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/01/2030\* | 484000 | &nbsp;&nbsp; 467913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/01/2032\*# | 720000 | &nbsp;&nbsp; 669547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/01/2033\* | 295000 | &nbsp;&nbsp; 301622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 03/01/2031\*# | 1636000 | &nbsp;&nbsp; 1687981 |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/2030\* | 1201000 | &nbsp;&nbsp; 464023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.75%, 01/31/2029\* | 2124000 | &nbsp;&nbsp; 1513484 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 02/01/2030\* | 1048000 | &nbsp;&nbsp; 1049208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing Co.-Obligor, <br> Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 08/15/2027\* | 165000 | &nbsp;&nbsp; 165192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 02/15/2031\* | 2675000 | &nbsp;&nbsp; 2735916 |
| &nbsp;&nbsp;&nbsp; EW Scripps Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 08/15/2030\* | 1540000 | &nbsp;&nbsp; 1546379 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.63%, 07/15/2032\* | 1097000 | &nbsp;&nbsp; 1139768 |
| &nbsp;&nbsp;&nbsp; iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 05/01/2029\* | 894000 | &nbsp;&nbsp; 794292 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 02/15/2033\* | 794000 | &nbsp;&nbsp; 826753 |
| &nbsp;&nbsp;&nbsp; Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/15/2031\* | 1873000 | &nbsp;&nbsp; 1785538 |

---

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Media (continued)** | **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; Univision Communications, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 07/31/2031\* |  | $2124000 | &nbsp;&nbsp; $2173714 |
| &nbsp;&nbsp;&nbsp; Versant Media Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 01/30/2031\* |  | 445000 | &nbsp;&nbsp; 455406 |
| &nbsp;&nbsp;&nbsp; Virgin Media Secured Finance PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 01/15/2030 | GBP | 775000 | &nbsp;&nbsp; 964325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 08/15/2030\* |  | 760000 | &nbsp;&nbsp; 692784 |
| &nbsp;&nbsp;&nbsp; Ziggo BV |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 01/15/2030\* |  | 1675000 | &nbsp;&nbsp; 1578307 |
|  |  |  | &nbsp;&nbsp; 25505487 |
| **Mining — 1.6%** | **Mining — 1.6%** | **Mining — 1.6%** | **Mining — 1.6%** |
| &nbsp;&nbsp;&nbsp; Constellium SE |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/15/2029\* |  | 915000 | &nbsp;&nbsp; 886593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/2028\* |  | 500000 | &nbsp;&nbsp; 499050 |
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty, Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 04/01/2031\* |  | 42000 | &nbsp;&nbsp; 40711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 09/15/2027\* |  | 595000 | &nbsp;&nbsp; 594503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 04/15/2030\* |  | 1242000 | &nbsp;&nbsp; 1279145 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 03/01/2034\* |  | 1694000 | &nbsp;&nbsp; 1712868 |
| &nbsp;&nbsp;&nbsp; Novelis Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 01/30/2030\* |  | 451000 | &nbsp;&nbsp; 437066 |
|  |  |  | &nbsp;&nbsp; 5449936 |
| **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** | **Miscellaneous Manufacturing — 0.5%** |
| &nbsp;&nbsp;&nbsp; Avient Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 11/01/2031\* |  | 186000 | &nbsp;&nbsp; 192080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 08/01/2030\* |  | 1363000 | &nbsp;&nbsp; 1404531 |
|  |  |  | &nbsp;&nbsp; 1596611 |
| **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** | **Oil & Gas — 4.7%** |
| &nbsp;&nbsp;&nbsp; Diamond Foreign Asset Co. / Diamond Finance LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 10/01/2030\* |  | 2014000 | &nbsp;&nbsp; 2140838 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 04/15/2032\* |  | 556000 | &nbsp;&nbsp; 567821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/15/2028\* |  | 1245000 | &nbsp;&nbsp; 1270379 |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 01/31/2030\* |  | 969000 | &nbsp;&nbsp; 1018933 |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 04/15/2030\* |  | 289000 | &nbsp;&nbsp; 300797 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/15/2033\* |  | 218000 | &nbsp;&nbsp; 222866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 06/15/2031\* |  | 826000 | &nbsp;&nbsp; 861843 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/15/2028 |  | 165000 | &nbsp;&nbsp; 165933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 08/01/2029\* |  | 1328000 | &nbsp;&nbsp; 1357823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 08/01/2032\* |  | 1004000 | &nbsp;&nbsp; 1022392 |
| &nbsp;&nbsp;&nbsp; Sunoco LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 03/15/2031\* |  | 379000 | &nbsp;&nbsp; 382258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/01/2033\* |  | 506000 | &nbsp;&nbsp; 521143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 05/01/2029\* |  | 637000 | &nbsp;&nbsp; 660646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 05/01/2032\* |  | 980000 | &nbsp;&nbsp; 1035452 |
| &nbsp;&nbsp;&nbsp; Talos Production, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 02/01/2029\* |  | 766000 | &nbsp;&nbsp; 797752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.38%, 02/01/2031\* |  | 1195000 | &nbsp;&nbsp; 1271495 |
| &nbsp;&nbsp;&nbsp; Transocean International, Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 10/15/2032\* |  | 339000 | &nbsp;&nbsp; 363989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 02/15/2030\* |  | 1696100 | &nbsp;&nbsp; 1774546 |
|  |  |  | &nbsp;&nbsp; 15736906 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Oil & Gas Services — 1.6%** | **Oil & Gas Services — 1.6%** | **Oil & Gas Services — 1.6%** |
| &nbsp;&nbsp;&nbsp; Enerflex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 01/15/2031\* | $880000 | &nbsp;&nbsp; $912014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 10/01/2033\* | 1015000 | &nbsp;&nbsp; 1032207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 03/15/2029\* | 1512000 | &nbsp;&nbsp; 1562396 |
| &nbsp;&nbsp;&nbsp; Weatherford International, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2033\* | 1675000 | &nbsp;&nbsp; 1751186 |
|  |  | &nbsp;&nbsp; 5257803 |
| **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** | **Packaging & Containers — 2.6%** |
| &nbsp;&nbsp;&nbsp; Ardagh Group SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 12/01/2030\* | 591654 | &nbsp;&nbsp; 640712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00%, 12/01/2030\*(1) | 1750000 | &nbsp;&nbsp; 1690937 |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 04/15/2029\* | 633000 | &nbsp;&nbsp; 639536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 04/15/2032\* | 93000 | &nbsp;&nbsp; 93702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 04/15/2030\* | 423000 | &nbsp;&nbsp; 421135 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 02/01/2030\*# | 512000 | &nbsp;&nbsp; 484400 |
| &nbsp;&nbsp;&nbsp; Mauser Packaging Solutions |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 04/15/2030\* | 1110000 | &nbsp;&nbsp; 1136363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 04/15/2030\* | 988000 | &nbsp;&nbsp; 973490 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 05/15/2031\*# | 1201000 | &nbsp;&nbsp; 1214276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 06/01/2032\*# | 485000 | &nbsp;&nbsp; 490194 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.25%, 01/15/2031\* | 775000 | &nbsp;&nbsp; 853322 |
|  |  | &nbsp;&nbsp; 8638067 |
| **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** |
| &nbsp;&nbsp;&nbsp; 1261229 BC, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 04/15/2032\* | 2770000 | &nbsp;&nbsp; 2864547 |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos., Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/15/2029\* | 423000 | &nbsp;&nbsp; 334170 |
| &nbsp;&nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co.-Issuer BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 05/15/2034\* | 400000 | &nbsp;&nbsp; 372785 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/01/2028 | 600000 | &nbsp;&nbsp; 622583 |
|  |  | &nbsp;&nbsp; 4194085 |
| **Pipelines — 3.5%** | **Pipelines — 3.5%** | **Pipelines — 3.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 01/15/2028\* | 500000 | &nbsp;&nbsp; 499820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/15/2033\* | 851000 | &nbsp;&nbsp; 863893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 02/01/2032\* | 1153000 | &nbsp;&nbsp; 1198428 |
| &nbsp;&nbsp;&nbsp; Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 03/01/2028\* | 935000 | &nbsp;&nbsp; 932960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 07/01/2029\* | 1553000 | &nbsp;&nbsp; 1611280 |
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 01/15/2034\* | 1398000 | &nbsp;&nbsp; 1444805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 07/15/2032\* | 222000 | &nbsp;&nbsp; 234280 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/2033\* | 1565000 | &nbsp;&nbsp; 1648609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 03/15/2034\* | 1652000 | &nbsp;&nbsp; 1697767 |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 12/15/2030\* | 260000 | &nbsp;&nbsp; 270090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 01/15/2034\* | 898000 | &nbsp;&nbsp; 945072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 01/15/2036\* | 465000 | &nbsp;&nbsp; 495323 |
|  |  | &nbsp;&nbsp; 11842327 |

---

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** | **CORPORATE BONDS & NOTES (continued)** |
| **Real Estate — 1.0%** | **Real Estate — 1.0%** | **Real Estate — 1.0%** | **Real Estate — 1.0%** |
| &nbsp;&nbsp;&nbsp; Canary Wharf Group Investment Holdings PLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 04/23/2028 | GBP | 1389000 | &nbsp;&nbsp; $1780305 |
| &nbsp;&nbsp;&nbsp; CPI Property Group SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/26/2031(2) | EUR | 1520000 | &nbsp;&nbsp; 1743904 |
|  |  |  | &nbsp;&nbsp; 3524209 |
| **REITS — 3.4%** | **REITS — 3.4%** | **REITS — 3.4%** | **REITS — 3.4%** |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/01/2029 |  | $560000 | &nbsp;&nbsp; 528280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/15/2031 |  | 190000 | &nbsp;&nbsp; 180295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.30%, 03/15/2028 |  | 80000 | &nbsp;&nbsp; 84424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 04/12/2029 |  | 1391000 | &nbsp;&nbsp; 1477691 |
| &nbsp;&nbsp;&nbsp; Hudson Pacific Properties LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/15/2030# |  | 250000 | &nbsp;&nbsp; 207767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 04/01/2029# |  | 2469000 | &nbsp;&nbsp; 2197410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 02/15/2028 |  | 207000 | &nbsp;&nbsp; 198876 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 02/15/2031\* |  | 227000 | &nbsp;&nbsp; 218945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/15/2030\* |  | 1028000 | &nbsp;&nbsp; 1022854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 02/15/2029\* |  | 825000 | &nbsp;&nbsp; 846716 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 02/15/2032\* |  | 1107000 | &nbsp;&nbsp; 1184798 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel LP/PEB Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/15/2029\* |  | 1991000 | &nbsp;&nbsp; 2030026 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 07/15/2028\* |  | 1250000 | &nbsp;&nbsp; 1283549 |
|  |  |  | &nbsp;&nbsp; 11461631 |
| **Retail — 5.4%** | **Retail — 5.4%** | **Retail — 5.4%** | **Retail — 5.4%** |
| &nbsp;&nbsp;&nbsp; 1011778 BC ULC/New Red Finance, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 01/15/2028\* |  | 1865000 | &nbsp;&nbsp; 1841444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 01/15/2028\* |  | 500000 | &nbsp;&nbsp; 497829 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/15/2029\* |  | 1060000 | &nbsp;&nbsp; 1043488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/2032\* |  | 241000 | &nbsp;&nbsp; 234376 |
| &nbsp;&nbsp;&nbsp; Cougar JV Subsidiary LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/15/2032\* |  | 1515000 | &nbsp;&nbsp; 1613545 |
| &nbsp;&nbsp;&nbsp; FirstCash, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 09/01/2028\* |  | 685000 | &nbsp;&nbsp; 676666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 03/01/2032\* |  | 957000 | &nbsp;&nbsp; 987625 |
| &nbsp;&nbsp;&nbsp; LBM Acquisition LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 01/15/2029\*# |  | 2079000 | &nbsp;&nbsp; 1585076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 06/15/2031\* |  | 630000 | &nbsp;&nbsp; 587601 |
| &nbsp;&nbsp;&nbsp; PetSmart LLC/PetSmart Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 09/15/2032\* |  | 1750000 | &nbsp;&nbsp; 1770790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 09/15/2033\* |  | 750000 | &nbsp;&nbsp; 752139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Building Products Holdings LLC/SBP Finance <br> Corp.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2029\* |  | 1944000 | &nbsp;&nbsp; 1874810 |
| &nbsp;&nbsp;&nbsp; Staples, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 09/01/2029\* |  | 3129000 | &nbsp;&nbsp; 2871058 |
| &nbsp;&nbsp;&nbsp; Victoria's Secret & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 07/15/2029\* |  | 892000 | &nbsp;&nbsp; 871237 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/31/2032 |  | 822000 | &nbsp;&nbsp; 808246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/01/2032 |  | 124000 | &nbsp;&nbsp; 126051 |
|  |  |  | &nbsp;&nbsp; 18141981 |
| **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/2030\* |  | 2881000 | &nbsp;&nbsp; 2708903 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 08/15/2033\*# |  | 187000 | &nbsp;&nbsp; 176490 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 06/30/2032\* |  | $708000 | &nbsp;&nbsp; $708593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 09/30/2029\* |  | 2792000 | &nbsp;&nbsp; 2734064 |
| &nbsp;&nbsp;&nbsp; Open Text Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 02/15/2028\* |  | 830000 | &nbsp;&nbsp; 791191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 12/01/2029\* |  | 257000 | &nbsp;&nbsp; 231312 |
| &nbsp;&nbsp;&nbsp; Rocket Software, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/2029\* |  | 1628000 | &nbsp;&nbsp; 1362968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.00%, 11/28/2028\* |  | 800000 | &nbsp;&nbsp; 780008 |
| &nbsp;&nbsp;&nbsp; UKG, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 02/01/2031\* |  | 1516000 | &nbsp;&nbsp; 1470745 |
|  |  |  | &nbsp;&nbsp; 10964274 |
| **Telecommunications — 5.8%** | **Telecommunications — 5.8%** | **Telecommunications — 5.8%** | **Telecommunications — 5.8%** |
| &nbsp;&nbsp;&nbsp; Altice France Lux 3/Altice Holdings 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 01/15/2033\* |  | 129000 | &nbsp;&nbsp; 121223 |
| &nbsp;&nbsp;&nbsp; Altice France SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 04/15/2032\* |  | 930352 | &nbsp;&nbsp; 891004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/15/2030\* |  | 384326 | &nbsp;&nbsp; 372632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 07/15/2032\* |  | 245494 | &nbsp;&nbsp; 235675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 11/01/2029\* |  | 1430252 | &nbsp;&nbsp; 1452205 |
| &nbsp;&nbsp;&nbsp; Black Pearl Compute LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 02/15/2031\* |  | 230000 | &nbsp;&nbsp; 235394 |
| &nbsp;&nbsp;&nbsp; Cipher Compute LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 11/15/2030\* |  | 140000 | &nbsp;&nbsp; 145928 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/30/2030(1) |  | 1819825 | &nbsp;&nbsp; 1843035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.75%, 11/30/2029 |  | 2007000 | &nbsp;&nbsp; 2191532 |
| &nbsp;&nbsp;&nbsp; Fibercop SpA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 11/15/2033\* |  | 977000 | &nbsp;&nbsp; 991323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.20%, 07/18/2036\* |  | 898000 | &nbsp;&nbsp; 910458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 06/04/2038\* |  | 403000 | &nbsp;&nbsp; 415899 |
| &nbsp;&nbsp;&nbsp; Iliad Holding SAS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 04/15/2031\* | EUR | 1129000 | &nbsp;&nbsp; 1420258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 10/15/2028\* |  | 680000 | &nbsp;&nbsp; 688569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/15/2032\* |  | 638000 | &nbsp;&nbsp; 654946 |
| &nbsp;&nbsp;&nbsp; Kaixo Bondco Telecom SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/30/2029\* | EUR | 215000 | &nbsp;&nbsp; 256671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 09/30/2029 | EUR | 645000 | &nbsp;&nbsp; 770014 |
| &nbsp;&nbsp;&nbsp; Level 3 Financing, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 07/15/2029\* |  | 1391000 | &nbsp;&nbsp; 1289373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 06/30/2033\* |  | 244000 | &nbsp;&nbsp; 252705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 01/15/2036\* |  | 2030000 | &nbsp;&nbsp; 2113635 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 06/15/2029\* |  | 547000 | &nbsp;&nbsp; 525120 |
| &nbsp;&nbsp;&nbsp; WULF Compute LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 10/15/2030\* |  | 1558000 | &nbsp;&nbsp; 1649944 |
|  |  |  | &nbsp;&nbsp; 19427543 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $297,837,644)<br>|  |  | &nbsp;&nbsp; 303009051 |
| **CONVERTIBLE BONDS & NOTES — 4.3%** | **CONVERTIBLE BONDS & NOTES — 4.3%** | **CONVERTIBLE BONDS & NOTES — 4.3%** | **CONVERTIBLE BONDS & NOTES — 4.3%** |
| **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** | **Biotechnology — 0.4%** |
| &nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/01/2030\* |  | 1190000 | &nbsp;&nbsp; 1309410 |
| **Electric — 0.5%** | **Electric — 0.5%** | **Electric — 0.5%** | **Electric — 0.5%** |
| &nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 12/01/2030\* |  | 874000 | &nbsp;&nbsp; 915078 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.38%, 06/01/2028\* |  | 806000 | &nbsp;&nbsp; 843076 |
|  |  |  | &nbsp;&nbsp; 1758154 |

---

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CONVERTIBLE BONDS & NOTES (continued)** | **CONVERTIBLE BONDS & NOTES (continued)** | **CONVERTIBLE BONDS & NOTES (continued)** |
| **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** | **Healthcare-Products — 0.1%** |
| &nbsp;&nbsp;&nbsp; QIAGEN NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.50%, 09/10/2031 | $400000 | &nbsp;&nbsp; $448292 |
| **Home Builders — 0.3%** | **Home Builders — 0.3%** | **Home Builders — 0.3%** |
| &nbsp;&nbsp;&nbsp; Meritage Homes Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.75%, 05/15/2028# | 824000 | &nbsp;&nbsp; 847857 |
| **Internet — 0.1%** | **Internet — 0.1%** | **Internet — 0.1%** |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.88%, 12/01/2028 | 367000 | &nbsp;&nbsp; 453429 |
| **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp; Terawulf, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 05/01/2032\* | 850000 | &nbsp;&nbsp; 932110 |
| **Leisure Time — 0.4%** | **Leisure Time — 0.4%** | **Leisure Time — 0.4%** |
| &nbsp;&nbsp;&nbsp; NCL Corp., Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.75%, 09/15/2030\* | 1272000 | &nbsp;&nbsp; 1318041 |
| **Machinery-Construction & Mining — 0.4%** | **Machinery-Construction & Mining — 0.4%** | **Machinery-Construction & Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 11/01/2030\* | 1175000 | &nbsp;&nbsp; 1225525 |
| **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** | **Oil & Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.63%, 04/15/2029 | 564000 | &nbsp;&nbsp; 593610 |
| **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** | **Pharmaceuticals — 0.2%** |
| &nbsp;&nbsp;&nbsp; Jazz Investments I, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 06/15/2026 | 225000 | &nbsp;&nbsp; 274838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 09/15/2030 | 382000 | &nbsp;&nbsp; 544732 |
|  |  | &nbsp;&nbsp; 819570 |
| **REITS — 0.3%** | **REITS — 0.3%** | **REITS — 0.3%** |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 03/15/2029\* | 764000 | &nbsp;&nbsp; 762090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 03/15/2027\* | 361000 | &nbsp;&nbsp; 360458 |
|  |  | &nbsp;&nbsp; 1122548 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| &nbsp;&nbsp;&nbsp; Semtech Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 10/15/2030\* | 1156000 | &nbsp;&nbsp; 1391246 |
| **Software — 0.7%** | **Software — 0.7%** | **Software — 0.7%** |
| &nbsp;&nbsp;&nbsp; Cloudflare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 06/15/2030\* | 1092000 | &nbsp;&nbsp; 1144853 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Zero Coupon, 12/01/2029 | 1222000 | &nbsp;&nbsp; 1178619 |
|  |  | &nbsp;&nbsp; 2323472 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Bonds & Notes** <br>(cost $13,845,728)<br>|  | &nbsp;&nbsp; 14543264 |
| **LOANS(3)(4)(5) — 1.0%** |  |  |
| **Healthcare-Products — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp; Bausch & Lomb Corp. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>BTL-B <br>7.42%, (SOFR12+ 3.75%), 01/15/2031<br>| 421895 | &nbsp;&nbsp; 421719 |
| **Insurance — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp; HUB International, Ltd. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>BTL-B <br>5.92%, (SOFR4+ 2.25%), 06/20/2030<br>| 870821 | &nbsp;&nbsp; 860332 |
| **Packaging & Containers — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc. FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>BTL-B <br>6.85%, (SOFR12+ 3.18%), 04/13/2029<br>| 1278000 | &nbsp;&nbsp; 1267456 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Retail — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp; Specialty Building Products Holdings LLC FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>BTL-B <br>7.52%, (SOFR12+ 3.75%), 10/16/2028<br>| $899075 | &nbsp;&nbsp; $822975 |
| &nbsp;&nbsp;&nbsp; **Total Loans** <br>(cost $3,458,662)<br>|  | &nbsp;&nbsp; 3372482 |
| **COMMON STOCKS — 0.4%** | **COMMON STOCKS — 0.4%** | **COMMON STOCKS — 0.4%** |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| &nbsp;&nbsp;&nbsp; Yeoman Capital SA#†(6) | 103288 | &nbsp;&nbsp; 850532 |
| **Telecommunications — 0.1%** | **Telecommunications — 0.1%** | **Telecommunications — 0.1%** |
| &nbsp;&nbsp;&nbsp; Altice France Luxco 3†(6) | 24525 | &nbsp;&nbsp; 450618 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $2,745,277)<br>|  | &nbsp;&nbsp; 1301150 |
| **CONVERTIBLE PREFERRED STOCKS — 0.7%** | **CONVERTIBLE PREFERRED STOCKS — 0.7%** | **CONVERTIBLE PREFERRED STOCKS — 0.7%** |
| **Private Equity — 0.2%** | **Private Equity — 0.2%** | **Private Equity — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KKR & Co., Inc. <br>Series D #†<br>| 15373 | &nbsp;&nbsp; 610155 |
| **Software — 0.5%** | **Software — 0.5%** | **Software — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. <br>Series D †<br>| 37000 | &nbsp;&nbsp; 1701630 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Preferred Stocks** <br>(cost $2,694,905)<br>|  | &nbsp;&nbsp; 2311785 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $320,582,216)<br>|  | &nbsp;&nbsp; 324537732 |
| **SHORT-TERM INVESTMENTS — 4.8%** | **SHORT-TERM INVESTMENTS — 4.8%** | **SHORT-TERM INVESTMENTS — 4.8%** |
| **Unaffiliated Investment Companies — 4.8%** | **Unaffiliated Investment Companies — 4.8%** | **Unaffiliated Investment Companies — 4.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(7)(8) <br>(cost $16,125,469)<br>| 16125469 | &nbsp;&nbsp; 16125469 |
| **REPURCHASE AGREEMENTS — 0.9%** | **REPURCHASE AGREEMENTS — 0.9%** | **REPURCHASE AGREEMENTS — 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with Fixed Income Clearing Corp., bearing <br> interest at 1.06% dated 02/27/2026, to be <br> repurchased 03/02/2026 in the amount of <br> $3,073,768 and collateralized by $3,293,000 of <br> United States Treasury Notes, bearing interest at <br> 1.38% due 10/31/2028 and having an approximate <br> value of $3,135,038 <br>(cost $3,073,496)<br>| 3073496 | &nbsp;&nbsp; 3073496 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $339,781,181)<br>| 102.3<br> %<br>| &nbsp;&nbsp; 343736697 |
| Other assets less liabilities | (2.3)<br>| &nbsp;&nbsp; (7717456)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $336019241 |

---

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

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The High Yield Bond Fund has no right to demand registration of <br> these securities. At February 28, 2026, the aggregate value of these securities was <br> $282,764,849 representing 84.2% of net assets.<br>|
| # | The security or a portion thereof is out on loan. |
| † | Non-income producing security |
| (1) | &nbsp;&nbsp; PIK ("Payment-in-Kind") security – Income may be paid in additional securities and/or <br> cash at the discretion of the issuer.<br>|
| (2) | Perpetual maturity - maturity date reflects the next call date. |
| (3) | &nbsp;&nbsp; All loans in the Fund were purchased through assignment agreements unless otherwise <br> indicated.<br>|

---

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

&nbsp;&nbsp;&nbsp;&nbsp;(4) The Fund invests in senior loans which generally pay interest at rates which are periodically re-determined by reference to a base lending rate plus a premium. The
 rate shown represents the rate at the end of the period. Senior loans are generally considered to be restrictive in that the Fund is ordinarily contractually obligated to receive
 approval from the Agent Bank and/or borrower prior to the disposition of a senior loan.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Senior loans in the Fund are generally subject to mandatory and/or optional prepayment. Because of these mandatory prepayment conditions and because there may be significant economic incentives for a borrower to prepay, prepayments may occur. As
 a result, the actual remaining maturity may be substantially less than the stated maturities shown.

&nbsp;&nbsp;&nbsp;&nbsp;(6) Denotes a restricted security that: (a) cannot be offered for public sale without
 first being registered, or being able to take advantage of an exemption from registration, under
 the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales
 by operation of applicable law. Restricted securities are valued pursuant to Note 1.
 Certain restricted securities held by the Fund may not be sold except in exempt transactions
 or in a public offering registered under the 1933 Act. The Fund has no right to demand registration of these securities. The risk of investing in certain restricted securities
 is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Fund to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit
 greater price volatility than securities for which secondary markets exist. As of February
 28, 2026, the Fund held the following restricted securities:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Altice France Luxco 3 | 10/01/25 | 24525 | $417666 | $450618 | $18.37 | 0.1<br> %<br>|
| Yeoman Capital SA | 10/25/22, 06/08/23 <br>06/15/23, 06/16/23 <br>02/26/24<br>| 103288 | 2327611 | 850532 | 8.23 | 0.3 |
|  |  |  |  | $1301150 |  | 0.4<br> %\*\*<br>|

---

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

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Fund and may not equal the sum of the individual percentages shown due to rounding. 

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

&nbsp;&nbsp;&nbsp;&nbsp;(7) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(8) At February 28, 2026, the Fund had loaned securities with a total value of $17,614,871. This was secured by collateral of $16,125,469, which was received in cash and subsequently invested in short-term investments currently valued at $16,125,469 as reported in the Portfolio of Investments. Additional collateral of $2,118,692 was
 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components
 of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $1086 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 5470 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/30/2026 to 11/15/2055 | 2112136 |

---

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

---

| |
|:---|
| CPI—Consumer Price Index |
| DAC—Designated Activity Company |
| FRS—Floating Rate Security |
| SOFR12—Secured Overnight Financing Rate 1 month |
| SOFR4—Secured Overnight Financing Rate 3 month |

---

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

EUR—Euro Currency <br> GBP—British Pound

The rates shown on FRS and/or VRS are the current interest rates at February 28, 2026 and unless noted otherwise, the dates shown are the original maturity dates.

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **In** <br>**Exchange For** | &nbsp;&nbsp; **In** <br>**Exchange For** | **Delivery** <br>**Date**<br>| **Unrealized** <br>**Appreciation**<br>| **Unrealized** <br>**(Depreciation)**<br>|
| Deutsche Bank AG | EUR | &nbsp;&nbsp; 8572331 | USD | &nbsp;&nbsp; 10138642 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4100)<br>|
| Goldman Sachs International | GBP | &nbsp;&nbsp; 4611000 | USD | &nbsp;&nbsp; 6226943 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 12489 | &nbsp;&nbsp; — |
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp; $12489 | &nbsp;&nbsp; $(4100)<br>|

---

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

EUR—Euro Currency <br> GBP—British Pound <br> USD—United States Dollar

------

**VALIC Company I High Yield Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $303009051 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $303009051 |
| Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 14543264 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14543264 |
| Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 3372482 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3372482 |
| Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 1301150 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1301150 |
| Convertible Preferred Stocks | &nbsp;&nbsp; 2311785 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2311785 |
| Short-Term Investments | &nbsp;&nbsp; 16125469 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 16125469 |
| Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 3073496 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3073496 |
| **Total Investments at Value** | &nbsp;&nbsp; $18437254 | &nbsp;&nbsp; $325299443 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $343736697 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12489 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12489 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4100 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4100 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Inflation Protected Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES — 3.4%** | **CORPORATE BONDS & NOTES — 3.4%** | **CORPORATE BONDS & NOTES — 3.4%** | **CORPORATE BONDS & NOTES — 3.4%** |
| **Banks — 2.0%** | **Banks — 2.0%** | **Banks — 2.0%** | **Banks — 2.0%** |
| &nbsp;&nbsp;&nbsp; Banca Comerciala Romana SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 05/19/2027 | EUR | 800000 | &nbsp;&nbsp; $953988 |
| &nbsp;&nbsp;&nbsp; Banca Transilvania SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.88%, 04/27/2027 | EUR | 825000 | &nbsp;&nbsp; 982892 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/02/2032 | EUR | 1000000 | &nbsp;&nbsp; 1192406 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 06/09/2029 | EUR | 1610000 | &nbsp;&nbsp; 1823437 |
| &nbsp;&nbsp;&nbsp; mBank SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.97%, 09/21/2027 | EUR | 900000 | &nbsp;&nbsp; 1052849 |
| &nbsp;&nbsp;&nbsp; OTP Bank Nyrt |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 05/25/2027 |  | $660000 | &nbsp;&nbsp; 665717 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.11%, 07/17/2031 | EUR | 1000000 | &nbsp;&nbsp; 1053425 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. |  |  |  |
|  |  |  | &nbsp;&nbsp; 7724714 |
| **Electric — 0.3%** | **Electric — 0.3%** | **Electric — 0.3%** | **Electric — 0.3%** |
| &nbsp;&nbsp;&nbsp; Pacific Gas & Electric Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.15%, 01/15/2033 |  | 985000 | &nbsp;&nbsp; 1058442 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| &nbsp;&nbsp;&nbsp; NBM US Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>7.00%, 05/14/2026 |  | 483000 | &nbsp;&nbsp; 481741 |
| **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** | **Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.38%, 07/01/2034 |  | 1000000 | &nbsp;&nbsp; 1034074 |
| **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** | **Oil & Gas — 0.4%** |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.84%, 01/23/2030 |  | 1500000 | &nbsp;&nbsp; 1535730 |
| **Pipelines — 0.3%** | **Pipelines — 0.3%** | **Pipelines — 0.3%** | **Pipelines — 0.3%** |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.80%, 06/15/2038 |  | 1159000 | &nbsp;&nbsp; 1204218 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $12,253,372)<br>|  |  | &nbsp;&nbsp; 13038919 |
| **ASSET BACKED SECURITIES — 1.1%** | **ASSET BACKED SECURITIES — 1.1%** | **ASSET BACKED SECURITIES — 1.1%** | **ASSET BACKED SECURITIES — 1.1%** |
| **Auto Loan Receivables — 0.4%** | **Auto Loan Receivables — 0.4%** | **Auto Loan Receivables — 0.4%** | **Auto Loan Receivables — 0.4%** |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-1A, Class A <br>5.68%, 03/15/2034\*<br>|  | 300000 | &nbsp;&nbsp; 301973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-3A, Class A <br>6.39%, 08/15/2033\*<br>|  | 139510 | &nbsp;&nbsp; 140032 |
| &nbsp;&nbsp;&nbsp; Santander Bank Auto Credit-Linked Notes |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-C, Class A2 <br>6.02%, 12/15/2032\*<br>|  | 631236 | &nbsp;&nbsp; 638857 |
| &nbsp;&nbsp;&nbsp; USB Auto Owner Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A3 <br>4.49%, 06/17/2030\*<br>|  | 355000 | &nbsp;&nbsp; 358538 |
|  |  |  | &nbsp;&nbsp; 1439400 |
| **Commercial and Residential — 0.2%** | **Commercial and Residential — 0.2%** | **Commercial and Residential — 0.2%** | **Commercial and Residential — 0.2%** |
| &nbsp;&nbsp;&nbsp; CD Mtg. Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2017-CD3, Class A4 <br>3.63%, 02/10/2050<br>|  | 920000 | &nbsp;&nbsp; 899803 |
| **Other Asset Backed Securities — 0.5%** | **Other Asset Backed Securities — 0.5%** | **Other Asset Backed Securities — 0.5%** | **Other Asset Backed Securities — 0.5%** |
| &nbsp;&nbsp;&nbsp; Wendy's Funding LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A2I <br>2.37%, 06/15/2051\*<br>|  | 1655501 | &nbsp;&nbsp; 1560874 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** | **Other Asset Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Wingstop Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class A2 <br>2.84%, 12/05/2050\*<br>| $310275 | &nbsp;&nbsp; $301891 |
|  |  | &nbsp;&nbsp; 1862765 |
| &nbsp;&nbsp;&nbsp; **Total Asset Backed Securities** <br>(cost $4,285,440)<br>|  | &nbsp;&nbsp; 4201968 |
| **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.4%** | **COLLATERALIZED MORTGAGE OBLIGATIONS — 2.4%** |
| **Commercial and Residential — 2.2%** | **Commercial and Residential — 2.2%** | **Commercial and Residential — 2.2%** |
| &nbsp;&nbsp;&nbsp; Ajax Mtg. Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-C, Class A <br>6.12%, 01/25/2061\*(1)<br>| 175754 | &nbsp;&nbsp; 175920 |
| &nbsp;&nbsp;&nbsp; BANK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-BN18, Class A4 <br>3.58%, 05/15/2062<br>| 1000000 | &nbsp;&nbsp; 973497 |
| &nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1 <br>0.94%, 02/25/2049\*(2)<br>| 135551 | &nbsp;&nbsp; 129188 |
| &nbsp;&nbsp;&nbsp; CSMC Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM4, Class A1 <br>1.10%, 05/25/2066\*(2)<br>| 690237 | &nbsp;&nbsp; 615238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-RPL2, Class M3 <br>3.53%, 01/25/2060\*(2)<br>| 376575 | &nbsp;&nbsp; 265954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-RPL4, Class A1 <br>4.15%, 12/27/2060\*(2)<br>| 309759 | &nbsp;&nbsp; 308778 |
| &nbsp;&nbsp;&nbsp; Ellington Financial Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class A1 <br>0.93%, 06/25/2066\*(2)<br>| 206590 | &nbsp;&nbsp; 178725 |
| &nbsp;&nbsp;&nbsp; GCAT Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM3, Class A1 <br>1.09%, 05/25/2066\*(2)<br>| 514417 | &nbsp;&nbsp; 460111 |
| &nbsp;&nbsp;&nbsp; HIH Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-61P, Class B <br>6.00%, (TSFR1M2.34%), 10/15/2041\*<br>| 161108 | &nbsp;&nbsp; 161158 |
| &nbsp;&nbsp;&nbsp; Legacy Mtg. Asset Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS2, Class A1 <br>5.75%, 04/25/2061\*(1)<br>| 301033 | &nbsp;&nbsp; 301966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-GS3, Class A1 <br>5.75%, 07/25/2061\*(1)<br>| 413255 | &nbsp;&nbsp; 413529 |
| &nbsp;&nbsp;&nbsp; MFA Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQM1, Class A1 <br>1.15%, 04/25/2065\*(2)<br>| 168559 | &nbsp;&nbsp; 159250 |
| &nbsp;&nbsp;&nbsp; New Residential Mtg. Loan Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-NQ2R, Class A1 <br>0.94%, 10/25/2058\*(2)<br>| 112287 | &nbsp;&nbsp; 108203 |
| &nbsp;&nbsp;&nbsp; NMLT Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-INV1, Class A1 <br>1.19%, 05/25/2056\*(2)<br>| 794265 | &nbsp;&nbsp; 710674 |
| &nbsp;&nbsp;&nbsp; SG Residential Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1, Class A1 <br>1.16%, 07/25/2061\*(2)<br>| 836215 | &nbsp;&nbsp; 718213 |
| &nbsp;&nbsp;&nbsp; SHR Trust FRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.11%, (TSFR1M+2.45%), 10/15/2041\* | 1255000 | &nbsp;&nbsp; 1257694 |
| &nbsp;&nbsp;&nbsp; Starwood Mtg. Residential Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-2, Class A1 <br>0.94%, 05/25/2065\*(2)<br>| 80139 | &nbsp;&nbsp; 76565 |
| &nbsp;&nbsp;&nbsp; Towd Point Mtg. Trust VRS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R1, Class A1 <br>2.92%, 11/30/2060\*(2)<br>| 1566509 | &nbsp;&nbsp; 1443217 |
|  |  | &nbsp;&nbsp; 8457880 |

---

------

**VALIC Company I Inflation Protected Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** | **COLLATERALIZED MORTGAGE OBLIGATIONS (continued)** |
| **U.S. Government Agency — 0.2%** | **U.S. Government Agency — 0.2%** | **U.S. Government Agency — 0.2%** | **U.S. Government Agency — 0.2%** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. Corp. REMIC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3925, Class FL <br>4.22%, (SOFR30A+0.56%), 01/15/2041<br>|  | $19673 | &nbsp;&nbsp; $19668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4001, Class FM <br>4.27%, (SOFR30A+0.61%), 02/15/2042<br>|  | 108710 | &nbsp;&nbsp; 108109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 3355, Class BF <br>4.47%, (SOFR30A+0.81%), 08/15/2037<br>|  | 123659 | &nbsp;&nbsp; 124198 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. Assoc. REMIC FRS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2012-93, Class BF <br>4.18%, (SOFR30A+0.51%), 09/25/2042<br>|  | 162185 | &nbsp;&nbsp; 160768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government National Mtg. Assoc. REMIC <br> FRS<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2010-14, Class FN <br>4.32%, (TSFR1M+0.66%), 02/16/2040<br>|  | 67448 | &nbsp;&nbsp; 67448 |
|  |  |  | &nbsp;&nbsp; 480191 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(cost $9,555,878)<br>|  |  | &nbsp;&nbsp; 8938071 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.9%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 53.9%** |
| **U.S. Government — 47.9%** | **U.S. Government — 47.9%** | **U.S. Government — 47.9%** | **U.S. Government — 47.9%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.13%, 02/15/2052(3) |  | 5936910 | &nbsp;&nbsp; 3287689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.25%, 02/15/2050(3) |  | 9358841 | &nbsp;&nbsp; 5631370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.63%, 02/15/2043(3) |  | 9690244 | &nbsp;&nbsp; 7478320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.75%, 02/15/2042 to 02/15/2045(3) |  | 22014393 | &nbsp;&nbsp; 17086548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.88%, 02/15/2047(3) |  | 11236307 | &nbsp;&nbsp; 8410343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.00%, 02/15/2046(3) |  | 13853747 | &nbsp;&nbsp; 10820568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 02/15/2044(3) |  | 11269597 | &nbsp;&nbsp; 9755807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.50%, 02/15/2053(3) |  | 4535107 | &nbsp;&nbsp; 3674765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.13%, 02/15/2054(3) |  | 9550525 | &nbsp;&nbsp; 8903329 |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.13%, 01/15/2030 to 07/15/2031(3) |  | 41390456 | &nbsp;&nbsp; 39671567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.63%, 07/15/2032(3) |  | 7132535 | &nbsp;&nbsp; 6854657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.88%, 01/15/2029(3) |  | 1944321 | &nbsp;&nbsp; 1939972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 07/15/2033(3)(4) |  | 18789870 | &nbsp;&nbsp; 18762623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.63%, 04/15/2030(3) |  | 15799205 | &nbsp;&nbsp; 16126520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.75%, 01/15/2034(3) |  | 1570788 | &nbsp;&nbsp; 1599178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.88%, 07/15/2034 to 07/15/2035(3) |  | 14618299 | &nbsp;&nbsp; 14954530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.13%, 01/15/2035(3) |  | 3393706 | &nbsp;&nbsp; 3534995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.38%, 10/15/2028(3) |  | 3438468 | &nbsp;&nbsp; 3577908 |
|  |  |  | &nbsp;&nbsp; 182070689 |
| **U.S. Government Agency — 6.0%** | **U.S. Government Agency — 6.0%** | **U.S. Government Agency — 6.0%** | **U.S. Government Agency — 6.0%** |
| &nbsp;&nbsp;&nbsp; Tennessee Valley Authority |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.25%, 02/01/2055 |  | 4000000 | &nbsp;&nbsp; 4105686 |
| &nbsp;&nbsp;&nbsp; Uniform Mtg. Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, March 30 TBA |  | 8200000 | &nbsp;&nbsp; 8331469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, March 30 TBA |  | 9955000 | &nbsp;&nbsp; 10210727 |
|  |  |  | &nbsp;&nbsp; 22647882 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Obligations** <br>(cost $220,681,389)<br>|  |  | &nbsp;&nbsp; 204718571 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 44.0%** | **FOREIGN GOVERNMENT OBLIGATIONS — 44.0%** | **FOREIGN GOVERNMENT OBLIGATIONS — 44.0%** | **FOREIGN GOVERNMENT OBLIGATIONS — 44.0%** |
| **Regional(State/Province) — 1.9%** | **Regional(State/Province) — 1.9%** | **Regional(State/Province) — 1.9%** | **Regional(State/Province) — 1.9%** |
| &nbsp;&nbsp;&nbsp; Province of Ontario, Canada TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 12/01/2036(3) | CAD | 7697750 | &nbsp;&nbsp; 5687097 |
| &nbsp;&nbsp;&nbsp; Queensland Treasury Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 07/21/2036\* | AUD | 2000000 | &nbsp;&nbsp; 1418987 |
|  |  |  | &nbsp;&nbsp; 7106084 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Sovereign — 42.1%** | **Sovereign — 42.1%** | **Sovereign — 42.1%** | **Sovereign — 42.1%** |
| &nbsp;&nbsp;&nbsp; Bonos de la Tesoreria de la Republica TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 03/01/2035(3) | CLP | 8952891750 | &nbsp;&nbsp; $10128323 |
| &nbsp;&nbsp;&nbsp; Commonwealth of Australia TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 11/21/2027(3) | AUD | 13629303 | &nbsp;&nbsp; 9633896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 08/21/2040(3) | AUD | 6893151 | &nbsp;&nbsp; 4074278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 08/21/2035(3) | AUD | 19501771 | &nbsp;&nbsp; 13421907 |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/2027(3) | BRL | 9215000 | &nbsp;&nbsp; 8244507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/15/2035(3) | BRL | 15665000 | &nbsp;&nbsp; 13161620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; French Republic Government Bond OAT <br> TIPS<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%, 07/25/2031\*(3) | EUR | 13604467 | &nbsp;&nbsp; 15575074 |
| &nbsp;&nbsp;&nbsp; Government of New Zealand TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 09/20/2040(3) | NZD | 16330328 | &nbsp;&nbsp; 9494580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 09/20/2035(3) | NZD | 16976591 | &nbsp;&nbsp; 10321492 |
| &nbsp;&nbsp;&nbsp; Government of Romania |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/03/2049 | EUR | 1445000 | &nbsp;&nbsp; 1418613 |
| &nbsp;&nbsp;&nbsp; Government of Spain TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%, 11/30/2033\*(3) | EUR | 14678849 | &nbsp;&nbsp; 17029761 |
| &nbsp;&nbsp;&nbsp; Republic of Italy TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.10%, 05/15/2033\*(3) | EUR | 13398491 | &nbsp;&nbsp; 14707262 |
| &nbsp;&nbsp;&nbsp; United Kingdom Gilt Treasury TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 09/22/2035(3) | GBP | 9784645 | &nbsp;&nbsp; 13067570 |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/07/2036 |  | $500000 | &nbsp;&nbsp; 511875 |
| &nbsp;&nbsp;&nbsp; United Mexican States TIPS |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 11/27/2031(3) | MXN | 297916023 | &nbsp;&nbsp; 15841168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/29/2054(3) | MXN | 63258961 | &nbsp;&nbsp; 3574364 |
|  |  |  | &nbsp;&nbsp; 160206290 |
| &nbsp;&nbsp;&nbsp; **Total Foreign Government Obligations** <br>(cost $154,195,229)<br>|  |  | &nbsp;&nbsp; 167312374 |
| **MUNICIPAL SECURITIES — 0.8%** | **MUNICIPAL SECURITIES — 0.8%** | **MUNICIPAL SECURITIES — 0.8%** | **MUNICIPAL SECURITIES — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; City of New York, NY <br>General Obligation Bonds<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 12/01/2036 |  | 1444742 | &nbsp;&nbsp; 1526679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Illinois State Toll Highway Authority <br>Revenue Bonds<br>|  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 12/01/2034 |  | 1520000 | &nbsp;&nbsp; 1628344 |
| &nbsp;&nbsp;&nbsp; **Total Municipal Securities** <br>(cost $3,429,863)<br>|  |  | &nbsp;&nbsp; 3155023 |
| **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lehman Brothers Holdings, Inc. <br>Escrow Notes <br>1.00%, 12/31/2049†(5) <br>(cost $0)<br>|  | 1000000 | &nbsp;&nbsp; 705 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $404,401,171)<br>|  | 105.6<br> %<br>| &nbsp;&nbsp; 401365631 |
| Other assets less liabilities |  | (5.6)<br>| &nbsp;&nbsp; (21418025)<br>|
| **NET ASSETS** |  | 100.0<br> %<br>| &nbsp;&nbsp; $379947606 |

---

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

---

| | |
|:---|:---|
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The Inflation Protected Fund has no right to demand registration of <br> these securities. At February 28, 2026, the aggregate value of these securities was <br> $59,517,632 representing 15.7% of net assets.<br>|
| † | Non-income producing security |
| (1) | &nbsp;&nbsp; "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate <br> reflected is as of February 28, 2026.<br>|
| (2) | &nbsp;&nbsp; Certain variable rate securities are not based on a published reference rate and spread <br> but are determined by the issuer or agent and are based on current market conditions. <br> These securities do not indicate a reference rate and spread in their description above.<br>|

---

------

**VALIC Company I Inflation Protected Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) Principal amount of security is adjusted for inflation.

&nbsp;&nbsp;&nbsp;&nbsp;(4) The security or a portion thereof was pledged as collateral to cover margin requirements for open futures contracts.

&nbsp;&nbsp;&nbsp;&nbsp;(5) Securities classified as Level 3 (see Note 1).

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

---

| |
|:---|
| FRS—Floating Rate Security |
| REMIC—Real Estate Mortgage Investment Conduit |
| SOFR30A—US 30 Day Average Secured Overnight Financing Rate |
| TBA—Securities purchased on a forward commitment basis with an approximate principal <br> amount and no definite maturity date. The actual principal amount and maturity date will be <br> determined upon settlement date.<br>|
| TIPS—Treasury Inflation Protected Securities |
| TSFR1M—Term Secured Overnight Financing Rate 1 Month |
| VRS—Variable Rate Security |

---

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

---

| |
|:---|
| AUD—Australian Dollar |
| BRL—Brazilian Real |
| CAD—Canadian Dollar |
| CLP—Chilean Peso |
| EUR—Euro Currency |
| GBP—British Pound |
| MXN—Mexican Peso |
| NZD—New Zealand Dollar |

---

The rates shown on FRS and/or VRS are the current interest rates at February 28, 2026 and unless noted otherwise, the dates shown are the original maturity dates.

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** | **Inflation Swaps** |
| **Counterparty (OTC)/** <br>**Centrally cleared**<br>| **Notional** <br>**amount**<br>| **Currency** | **Payments** <br>**made**<br>| **Payments** <br>**received**<br>| **Fixed** <br>**payment** <br>**frequency**<br>| **Floating** <br>**payment** <br>**frequency**<br>| **Maturity** <br>**date**<br>| **Upfront** <br>**payment paid** <br>**(received)**<br>| **Unrealized** <br>**appreciation** <br>**(depreciation)**<br>| **Value** |
| Bank of America, N.A. | 21715000 | USD | Fixed 3.430% | 12-Month USA CPI | Maturity | Maturity | Apr 2027 | $— | $(15825)<br>| $(15825)<br>|
| Centrally Cleared | 13805000 | USD | Fixed 2.545 | 12-Month USA CPI | Maturity | Maturity | Mar 2028 | 6293 | (52543)<br>| (46250)<br>|
|  |  |  |  |  |  |  |  | $6293 | $(68368)<br>| $(62075)<br>|

---

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** | **Interest Rate Swaps** |
| **Counterparty (OTC)/** <br>**Centrally cleared**<br>| **Notional** <br>**amount**<br>| **Currency** | **Payments** <br>**made**<br>| **Payments** <br>**received**<br>| **Fixed** <br>**payment** <br>**frequency**<br>| **Floating** <br>**payment** <br>**frequency**<br>| **Maturity** <br>**date**<br>| **Upfront** <br>**payment paid** <br>**(received)**<br>| **Unrealized** <br>**appreciation** <br>**(depreciation)**<br>| **Value** |
| Centrally Cleared | 3880000 | USD | Fixed 3.750% | 12-Month SOFR | Annual | Annual | Mar 2055 | $177848 | $(72230)<br>| $105618 |

---

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

CPI—Consumer Price Index <br> SOFR—Secured Overnight Financing Rate

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

USD—United States Dollar<br>

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 130 | Long | Australian 10 Year Bonds | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $10086797 | &nbsp;&nbsp;&nbsp;&nbsp; $10229544 | &nbsp;&nbsp;&nbsp;&nbsp; $142747 |
| 29 | Long | Euro Buxl 30 Year Bonds | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3801566 | &nbsp;&nbsp;&nbsp;&nbsp; 3901573 | &nbsp;&nbsp;&nbsp;&nbsp; 100007 |
| 64 | Long | U.S. Treasury Long Bonds | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7525595 | &nbsp;&nbsp;&nbsp;&nbsp; 7582000 | &nbsp;&nbsp;&nbsp;&nbsp; 56405 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $299159 |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 85 | Short | Canada 10 Year Bonds | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $7628457 | &nbsp;&nbsp;&nbsp;&nbsp; $7654705 | &nbsp;&nbsp;&nbsp;&nbsp; $(26248)<br>|
| 99 | Short | Euro-BTP | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 14170906 | &nbsp;&nbsp;&nbsp;&nbsp; 14370798 | &nbsp;&nbsp;&nbsp;&nbsp; (199892)<br>|
| 73 | Short | Euro-BUND | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11064665 | &nbsp;&nbsp;&nbsp;&nbsp; 11233224 | &nbsp;&nbsp;&nbsp;&nbsp; (168559)<br>|
| 85 | Short | Euro-OAT | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 12171448 | &nbsp;&nbsp;&nbsp;&nbsp; 12446030 | &nbsp;&nbsp;&nbsp;&nbsp; (274582)<br>|
| 96 | Short | Long Gilt | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 11952540 | &nbsp;&nbsp;&nbsp;&nbsp; 12119801 | &nbsp;&nbsp;&nbsp;&nbsp; (167261)<br>|
| 57 | Short | U.S. Treasury 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6459177 | &nbsp;&nbsp;&nbsp;&nbsp; 6487313 | &nbsp;&nbsp;&nbsp;&nbsp; (28136)<br>|
| 42 | Short | U.S. Treasury Ultra 10 Year Notes | June 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4871284 | &nbsp;&nbsp;&nbsp;&nbsp; 4902844 | &nbsp;&nbsp;&nbsp;&nbsp; (31560)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(896238)<br>|
|  |  | Net Unrealized Appreciation (Depreciation) | Net Unrealized Appreciation (Depreciation) | Net Unrealized Appreciation (Depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp; $(597079)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **In** <br>**Exchange For** | &nbsp;&nbsp; **In** <br>**Exchange For** | **Delivery** <br>**Date**<br>| **Unrealized** <br>**Appreciation**<br>| **Unrealized** <br>**(Depreciation)**<br>|
| Australia & New Zealand Banking Group | NZD | &nbsp;&nbsp; 32653000 | USD | &nbsp;&nbsp; 19082870 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(514827)<br>|

---

------

**VALIC Company I Inflation Protected Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** | **Forward Foreign Currency Contracts — (continued)** |
| **Counterparty** | &nbsp;&nbsp; **Contract to**<br> **Deliver** | &nbsp;&nbsp; **Contract to**<br> **Deliver** | &nbsp;&nbsp; **In**<br> **Exchange For** | &nbsp;&nbsp; **In**<br> **Exchange For** | **Delivery**<br> **Date**<br>| **Unrealized**<br> **Appreciation**<br>| **Unrealized**<br> **(Depreciation)**<br>|
| Bank of America, N.A. | MXN | &nbsp;&nbsp; 7900000 | USD | &nbsp;&nbsp; 453493 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(4620)<br>|
| Barclays Bank PLC | EUR | &nbsp;&nbsp; 540000 | USD | &nbsp;&nbsp; 639851 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; 1326 | &nbsp;&nbsp; — |
| Deutsche Bank AG | CAD | &nbsp;&nbsp; 7344000 | USD | &nbsp;&nbsp; 5350819 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (36783)<br>|
|  | EUR | &nbsp;&nbsp; 46654000 | USD | &nbsp;&nbsp; 54846979 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (319282)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (356065)<br>|
| Goldman Sachs International | BRL | &nbsp;&nbsp; 1740000 | USD | &nbsp;&nbsp; 328804 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (9319)<br>|
|  | CLP | &nbsp;&nbsp; 8749792000 | USD | &nbsp;&nbsp; 9556452 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (468933)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (478252)<br>|
| HSBC Bank PLC | AUD | &nbsp;&nbsp; 890000 | USD | &nbsp;&nbsp; 594524 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (38813)<br>|
| JPMorgan Chase Bank, N.A. | BRL | &nbsp;&nbsp; 106077000 | USD | &nbsp;&nbsp; 19200500 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1412727)<br>|
| Morgan Stanley & Co. International PLC | BRL | &nbsp;&nbsp; 1710000 | USD | &nbsp;&nbsp; 331620 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (672)<br>|
| Standard Chartered Bank | USD | &nbsp;&nbsp; 518580 | AUD | &nbsp;&nbsp; 740000 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; 8015 | &nbsp;&nbsp; — |
| State Street Bank & Trust Co. | AUD | &nbsp;&nbsp; 39606000 | USD | &nbsp;&nbsp; 26388104 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1796140)<br>|
| UBS AG | GBP | &nbsp;&nbsp; 9288000 | USD | &nbsp;&nbsp; 12402768 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (114536)<br>|
|  | MXN | &nbsp;&nbsp; 329652000 | USD | &nbsp;&nbsp; 18094553 | &nbsp;&nbsp; 03/18/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (1021628)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (1136164)<br>|
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp; $9341 | &nbsp;&nbsp; $(5738280)<br>|

---

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

---

| |
|:---|
| AUD—Australian Dollar |
| BRL—Brazilian Real |
| CAD—Canadian Dollar |
| CLP—Chilean Peso |
| EUR—Euro Currency |

---

---

| |
|:---|
| GBP—British Pound |
| MXN—Mexican Peso |
| NZD—New Zealand Dollar |
| USD—United States Dollar |

---

------

**VALIC Company I Inflation Protected Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13038919 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13038919 |
| Asset Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 4201968 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4201968 |
| Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 8938071 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8938071 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 204718571 | &nbsp;&nbsp; — | &nbsp;&nbsp; 204718571 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 167312374 | &nbsp;&nbsp; — | &nbsp;&nbsp; 167312374 |
| Municipal Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 3155023 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3155023 |
| Escrows and Litigation Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 705 | &nbsp;&nbsp; 705 |
| **Total Investments at Value** | &nbsp;&nbsp; $— | &nbsp;&nbsp; $401364926 | &nbsp;&nbsp; $705 | &nbsp;&nbsp; $401365631 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $299159 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $299159 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 9341 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9341 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $299159 | &nbsp;&nbsp; $9341 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $308500 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $140598 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $140598 |
| Futures Contracts | &nbsp;&nbsp; 896238 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 896238 |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 5738280 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5738280 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $896238 | &nbsp;&nbsp; $5878878 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6775116 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** |
| **Australia — 6.5%** | **Australia — 6.5%** | **Australia — 6.5%** |
| &nbsp;&nbsp;&nbsp; ANZ Group Holdings, Ltd. | 282261 | &nbsp;&nbsp; $8042877 |
| &nbsp;&nbsp;&nbsp; APA Group | 123809 | &nbsp;&nbsp; 810600 |
| &nbsp;&nbsp;&nbsp; Aristocrat Leisure, Ltd. | 52895 | &nbsp;&nbsp; 1809862 |
| &nbsp;&nbsp;&nbsp; ASX, Ltd. | 17976 | &nbsp;&nbsp; 677497 |
| &nbsp;&nbsp;&nbsp; BHP Group, Ltd. | 481229 | &nbsp;&nbsp; 20003477 |
| &nbsp;&nbsp;&nbsp; Brambles, Ltd. | 129572 | &nbsp;&nbsp; 2312625 |
| &nbsp;&nbsp;&nbsp; CAR Group, Ltd. | 35701 | &nbsp;&nbsp; 673784 |
| &nbsp;&nbsp;&nbsp; Cochlear, Ltd.# | 6063 | &nbsp;&nbsp; 858675 |
| &nbsp;&nbsp;&nbsp; Coles Group, Ltd. | 127762 | &nbsp;&nbsp; 1869353 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia | 158561 | &nbsp;&nbsp; 19704111 |
| &nbsp;&nbsp;&nbsp; Computershare, Ltd. | 48665 | &nbsp;&nbsp; 1073260 |
| &nbsp;&nbsp;&nbsp; CSL, Ltd. | 45754 | &nbsp;&nbsp; 4778628 |
| &nbsp;&nbsp;&nbsp; Evolution Mining, Ltd.# | 193476 | &nbsp;&nbsp; 2282854 |
| &nbsp;&nbsp;&nbsp; Fortescue, Ltd.# | 158974 | &nbsp;&nbsp; 2391650 |
| &nbsp;&nbsp;&nbsp; Goodman Group | 194465 | &nbsp;&nbsp; 4005036 |
| &nbsp;&nbsp;&nbsp; Insurance Australia Group, Ltd. | 221427 | &nbsp;&nbsp; 1049473 |
| &nbsp;&nbsp;&nbsp; Lottery Corp., Ltd. | 210761 | &nbsp;&nbsp; 826434 |
| &nbsp;&nbsp;&nbsp; Lynas Rare Earths, Ltd.#† | 87563 | &nbsp;&nbsp; 1182724 |
| &nbsp;&nbsp;&nbsp; Macquarie Group, Ltd.# | 34435 | &nbsp;&nbsp; 5231470 |
| &nbsp;&nbsp;&nbsp; Medibank Private, Ltd. | 265274 | &nbsp;&nbsp; 826866 |
| &nbsp;&nbsp;&nbsp; National Australia Bank, Ltd. | 290074 | &nbsp;&nbsp; 10119257 |
| &nbsp;&nbsp;&nbsp; Northern Star Resources, Ltd. | 129263 | &nbsp;&nbsp; 2785458 |
| &nbsp;&nbsp;&nbsp; Origin Energy, Ltd. | 162653 | &nbsp;&nbsp; 1406387 |
| &nbsp;&nbsp;&nbsp; Pro Medicus, Ltd. | 5511 | &nbsp;&nbsp; 509847 |
| &nbsp;&nbsp;&nbsp; Qantas Airways, Ltd. | 69188 | &nbsp;&nbsp; 489915 |
| &nbsp;&nbsp;&nbsp; QBE Insurance Group, Ltd. | 143624 | &nbsp;&nbsp; 2221024 |
| &nbsp;&nbsp;&nbsp; REA Group, Ltd.# | 5140 | &nbsp;&nbsp; 608635 |
| &nbsp;&nbsp;&nbsp; Rio Tinto, Ltd.# | 35229 | &nbsp;&nbsp; 4195084 |
| &nbsp;&nbsp;&nbsp; Santos, Ltd.# | 307043 | &nbsp;&nbsp; 1477109 |
| &nbsp;&nbsp;&nbsp; Scentre Group | 491726 | &nbsp;&nbsp; 1336759 |
| &nbsp;&nbsp;&nbsp; SGH, Ltd. | 19485 | &nbsp;&nbsp; 647566 |
| &nbsp;&nbsp;&nbsp; Sigma Healthcare, Ltd.# | 491069 | &nbsp;&nbsp; 992493 |
| &nbsp;&nbsp;&nbsp; Sonic Healthcare, Ltd. | 45668 | &nbsp;&nbsp; 774466 |
| &nbsp;&nbsp;&nbsp; South32, Ltd. | 424231 | &nbsp;&nbsp; 1388759 |
| &nbsp;&nbsp;&nbsp; Stockland | 233509 | &nbsp;&nbsp; 849163 |
| &nbsp;&nbsp;&nbsp; Suncorp Group, Ltd. | 101605 | &nbsp;&nbsp; 1057854 |
| &nbsp;&nbsp;&nbsp; Telstra Group, Ltd. | 374397 | &nbsp;&nbsp; 1380157 |
| &nbsp;&nbsp;&nbsp; Transurban Group | 296168 | &nbsp;&nbsp; 3022413 |
| &nbsp;&nbsp;&nbsp; Vicinity, Ltd. | 374912 | &nbsp;&nbsp; 653675 |
| &nbsp;&nbsp;&nbsp; Washington H. Soul Pattinson & Co., Ltd.# | 32875 | &nbsp;&nbsp; 894878 |
| &nbsp;&nbsp;&nbsp; Wesfarmers, Ltd. | 107217 | &nbsp;&nbsp; 6075084 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. | 323869 | &nbsp;&nbsp; 9804679 |
| &nbsp;&nbsp;&nbsp; WiseTech Global, Ltd.# | 19455 | &nbsp;&nbsp; 658199 |
| &nbsp;&nbsp;&nbsp; Woodside Energy Group, Ltd.# | 180278 | &nbsp;&nbsp; 3632027 |
| &nbsp;&nbsp;&nbsp; Woolworths Group, Ltd.# | 115050 | &nbsp;&nbsp; 2947512 |
|  |  | &nbsp;&nbsp; 140339656 |
| **Austria — 0.3%** | **Austria — 0.3%** | **Austria — 0.3%** |
| &nbsp;&nbsp;&nbsp; BAWAG Group AG\* | 7303 | &nbsp;&nbsp; 1139058 |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | 29229 | &nbsp;&nbsp; 3477875 |
| &nbsp;&nbsp;&nbsp; OMV AG | 14158 | &nbsp;&nbsp; 916754 |
| &nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG | 12285 | &nbsp;&nbsp; 613444 |
| &nbsp;&nbsp;&nbsp; Verbund AG | 6346 | &nbsp;&nbsp; 452156 |
|  |  | &nbsp;&nbsp; 6599287 |
| **Belgium — 0.9%** | **Belgium — 0.9%** | **Belgium — 0.9%** |
| &nbsp;&nbsp;&nbsp; Ageas SA | 13701 | &nbsp;&nbsp; 1018295 |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch InBev SA NV | 93471 | &nbsp;&nbsp; 7600849 |
| &nbsp;&nbsp;&nbsp; D'ieteren Group# | 2098 | &nbsp;&nbsp; 454648 |
| &nbsp;&nbsp;&nbsp; Elia Group SA | 4116 | &nbsp;&nbsp; 655595 |
| &nbsp;&nbsp;&nbsp; Financiere de Tubize SA# | 1972 | &nbsp;&nbsp; 527771 |
| &nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV | 7635 | &nbsp;&nbsp; 767280 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Belgium (continued)** | **Belgium (continued)** | **Belgium (continued)** |
| &nbsp;&nbsp;&nbsp; KBC Group NV | 21727 | &nbsp;&nbsp; $2947218 |
| &nbsp;&nbsp;&nbsp; Lotus Bakeries NV | 40 | &nbsp;&nbsp; 497217 |
| &nbsp;&nbsp;&nbsp; Sofina SA# | 1538 | &nbsp;&nbsp; 457596 |
| &nbsp;&nbsp;&nbsp; Syensqo SA# | 6977 | &nbsp;&nbsp; 398763 |
| &nbsp;&nbsp;&nbsp; UCB SA# | 11898 | &nbsp;&nbsp; 3547005 |
|  |  | &nbsp;&nbsp; 18872237 |
| **Bermuda — 0.2%** | **Bermuda — 0.2%** | **Bermuda — 0.2%** |
| &nbsp;&nbsp;&nbsp; Aegon, Ltd. | 119362 | &nbsp;&nbsp; 907439 |
| &nbsp;&nbsp;&nbsp; CK Infrastructure Holdings, Ltd. | 60500 | &nbsp;&nbsp; 513872 |
| &nbsp;&nbsp;&nbsp; Hongkong Land Holdings, Ltd. | 104600 | &nbsp;&nbsp; 906882 |
| &nbsp;&nbsp;&nbsp; Jardine Matheson Holdings, Ltd. | 15200 | &nbsp;&nbsp; 1254000 |
|  |  | &nbsp;&nbsp; 3582193 |
| **Denmark — 1.5%** | **Denmark — 1.5%** | **Denmark — 1.5%** |
| &nbsp;&nbsp;&nbsp; AP Moller-Maersk A/S, Series A | 263 | &nbsp;&nbsp; 644649 |
| &nbsp;&nbsp;&nbsp; AP Moller-Maersk A/S, Series B | 375 | &nbsp;&nbsp; 929554 |
| &nbsp;&nbsp;&nbsp; Carlsberg A/S, Class B | 8839 | &nbsp;&nbsp; 1374297 |
| &nbsp;&nbsp;&nbsp; Coloplast A/S, Class B | 12267 | &nbsp;&nbsp; 946659 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S | 63178 | &nbsp;&nbsp; 3297972 |
| &nbsp;&nbsp;&nbsp; Demant A/S† | 9493 | &nbsp;&nbsp; 295437 |
| &nbsp;&nbsp;&nbsp; DSV A/S | 19277 | &nbsp;&nbsp; 4985694 |
| &nbsp;&nbsp;&nbsp; Genmab A/S† | 5775 | &nbsp;&nbsp; 1688135 |
| &nbsp;&nbsp;&nbsp; Novo Nordisk A/S, Class B | 305155 | &nbsp;&nbsp; 11480229 |
| &nbsp;&nbsp;&nbsp; Novonesis (Novozymes), Class B | 33512 | &nbsp;&nbsp; 1989967 |
| &nbsp;&nbsp;&nbsp; Orsted A/S\*† | 49640 | &nbsp;&nbsp; 1177494 |
| &nbsp;&nbsp;&nbsp; Pandora A/S | 7498 | &nbsp;&nbsp; 592858 |
| &nbsp;&nbsp;&nbsp; ROCKWOOL A/S, Class B | 8960 | &nbsp;&nbsp; 296914 |
| &nbsp;&nbsp;&nbsp; Tryg A/S | 32306 | &nbsp;&nbsp; 800038 |
| &nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | 96041 | &nbsp;&nbsp; 2467243 |
|  |  | &nbsp;&nbsp; 32967140 |
| **Finland — 1.1%** | **Finland — 1.1%** | **Finland — 1.1%** |
| &nbsp;&nbsp;&nbsp; Elisa Oyj | 13343 | &nbsp;&nbsp; 684879 |
| &nbsp;&nbsp;&nbsp; Fortum Oyj | 41697 | &nbsp;&nbsp; 976023 |
| &nbsp;&nbsp;&nbsp; Kesko Oyj, Class B | 25708 | &nbsp;&nbsp; 633655 |
| &nbsp;&nbsp;&nbsp; Kone Oyj, Class B | 31917 | &nbsp;&nbsp; 2414395 |
| &nbsp;&nbsp;&nbsp; Metso Oyj | 62394 | &nbsp;&nbsp; 1305297 |
| &nbsp;&nbsp;&nbsp; Neste Oyj | 41028 | &nbsp;&nbsp; 1026779 |
| &nbsp;&nbsp;&nbsp; Nokia Oyj | 502736 | &nbsp;&nbsp; 3851709 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | 295344 | &nbsp;&nbsp; 5740697 |
| &nbsp;&nbsp;&nbsp; Orion Oyj, Class B | 10387 | &nbsp;&nbsp; 830901 |
| &nbsp;&nbsp;&nbsp; Sampo Oyj, Class A | 230217 | &nbsp;&nbsp; 2553765 |
| &nbsp;&nbsp;&nbsp; Stora Enso Oyj, Class R | 55554 | &nbsp;&nbsp; 755218 |
| &nbsp;&nbsp;&nbsp; UPM-Kymmene Oyj | 50048 | &nbsp;&nbsp; 1595509 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | 47581 | &nbsp;&nbsp; 2074581 |
|  |  | &nbsp;&nbsp; 24443408 |
| **France — 9.3%** | **France — 9.3%** | **France — 9.3%** |
| &nbsp;&nbsp;&nbsp; Accor SA | 18317 | &nbsp;&nbsp; 1066152 |
| &nbsp;&nbsp;&nbsp; Aeroports de Paris SA | 3138 | &nbsp;&nbsp; 439011 |
| &nbsp;&nbsp;&nbsp; Air Liquide SA | 54807 | &nbsp;&nbsp; 11542815 |
| &nbsp;&nbsp;&nbsp; Alstom SA† | 32429 | &nbsp;&nbsp; 1084019 |
| &nbsp;&nbsp;&nbsp; Amundi SA\* | 5753 | &nbsp;&nbsp; 550957 |
| &nbsp;&nbsp;&nbsp; AXA SA | 158609 | &nbsp;&nbsp; 7770119 |
| &nbsp;&nbsp;&nbsp; Ayvens SA\* | 33455 | &nbsp;&nbsp; 426929 |
| &nbsp;&nbsp;&nbsp; BioMerieux | 3798 | &nbsp;&nbsp; 448772 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | 95208 | &nbsp;&nbsp; 10743538 |
| &nbsp;&nbsp;&nbsp; Bollore SE | 70136 | &nbsp;&nbsp; 410717 |
| &nbsp;&nbsp;&nbsp; Bouygues SA | 17879 | &nbsp;&nbsp; 1112909 |
| &nbsp;&nbsp;&nbsp; Bureau Veritas SA | 31810 | &nbsp;&nbsp; 1105801 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | 14662 | &nbsp;&nbsp; 1852868 |
| &nbsp;&nbsp;&nbsp; Carrefour SA | 56988 | &nbsp;&nbsp; 1080423 |
| &nbsp;&nbsp;&nbsp; Cie de Saint-Gobain SA | 42309 | &nbsp;&nbsp; 4311338 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **France (continued)** | **France (continued)** | **France (continued)** |
| &nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | 61954 | &nbsp;&nbsp; $2518247 |
| &nbsp;&nbsp;&nbsp; Covivio SA | 5520 | &nbsp;&nbsp; 405369 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA | 101882 | &nbsp;&nbsp; 2261409 |
| &nbsp;&nbsp;&nbsp; Danone SA | 61082 | &nbsp;&nbsp; 5242756 |
| &nbsp;&nbsp;&nbsp; Dassault Aviation SA | 1856 | &nbsp;&nbsp; 742567 |
| &nbsp;&nbsp;&nbsp; Dassault Systemes SE | 64851 | &nbsp;&nbsp; 1421448 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | 6637 | &nbsp;&nbsp; 1146541 |
| &nbsp;&nbsp;&nbsp; Engie SA | 173702 | &nbsp;&nbsp; 5937776 |
| &nbsp;&nbsp;&nbsp; EssilorLuxottica SA | 28477 | &nbsp;&nbsp; 7577626 |
| &nbsp;&nbsp;&nbsp; Gecina SA | 4592 | &nbsp;&nbsp; 425662 |
| &nbsp;&nbsp;&nbsp; Getlink SE | 28078 | &nbsp;&nbsp; 611120 |
| &nbsp;&nbsp;&nbsp; Hermes International S.C.A. | 2994 | &nbsp;&nbsp; 7248769 |
| &nbsp;&nbsp;&nbsp; Ipsen SA | 3551 | &nbsp;&nbsp; 692737 |
| &nbsp;&nbsp;&nbsp; Kering SA | 7080 | &nbsp;&nbsp; 2391762 |
| &nbsp;&nbsp;&nbsp; Klepierre SA | 20585 | &nbsp;&nbsp; 866394 |
| &nbsp;&nbsp;&nbsp; Legrand SA | 24704 | &nbsp;&nbsp; 4490920 |
| &nbsp;&nbsp;&nbsp; L'Oreal SA | 22752 | &nbsp;&nbsp; 10683609 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | 23694 | &nbsp;&nbsp; 15233077 |
| &nbsp;&nbsp;&nbsp; Orange SA | 175123 | &nbsp;&nbsp; 3763972 |
| &nbsp;&nbsp;&nbsp; Pernod Ricard SA | 19193 | &nbsp;&nbsp; 1774816 |
| &nbsp;&nbsp;&nbsp; Publicis Groupe SA | 21767 | &nbsp;&nbsp; 1939794 |
| &nbsp;&nbsp;&nbsp; Renault SA | 18146 | &nbsp;&nbsp; 688481 |
| &nbsp;&nbsp;&nbsp; Rexel SA | 21382 | &nbsp;&nbsp; 931520 |
| &nbsp;&nbsp;&nbsp; Safran SA | 33726 | &nbsp;&nbsp; 13549219 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | 104611 | &nbsp;&nbsp; 10160608 |
| &nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | 2840 | &nbsp;&nbsp; 614437 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | 51948 | &nbsp;&nbsp; 16984334 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | 65463 | &nbsp;&nbsp; 5713151 |
| &nbsp;&nbsp;&nbsp; Sodexo SA | 8665 | &nbsp;&nbsp; 475069 |
| &nbsp;&nbsp;&nbsp; Thales SA | 8814 | &nbsp;&nbsp; 2654687 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | 188167 | &nbsp;&nbsp; 14958911 |
| &nbsp;&nbsp;&nbsp; Veolia Environnement SA | 59959 | &nbsp;&nbsp; 2547678 |
| &nbsp;&nbsp;&nbsp; Vinci SA | 47446 | &nbsp;&nbsp; 7890754 |
|  |  | &nbsp;&nbsp; 198491588 |
| **Germany — 9.1%** | **Germany — 9.1%** | **Germany — 9.1%** |
| &nbsp;&nbsp;&nbsp; adidas AG | 16170 | &nbsp;&nbsp; 3022644 |
| &nbsp;&nbsp;&nbsp; Allianz SE | 36081 | &nbsp;&nbsp; 16294453 |
| &nbsp;&nbsp;&nbsp; BASF SE | 84881 | &nbsp;&nbsp; 4884386 |
| &nbsp;&nbsp;&nbsp; Bayer AG | 92650 | &nbsp;&nbsp; 4599055 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | 26495 | &nbsp;&nbsp; 2800679 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG (Preference Shares) | 5276 | &nbsp;&nbsp; 554213 |
| &nbsp;&nbsp;&nbsp; Beiersdorf AG | 9092 | &nbsp;&nbsp; 1156496 |
| &nbsp;&nbsp;&nbsp; Brenntag SE | 11404 | &nbsp;&nbsp; 704741 |
| &nbsp;&nbsp;&nbsp; Commerzbank AG | 69235 | &nbsp;&nbsp; 2834650 |
| &nbsp;&nbsp;&nbsp; Continental AG | 10547 | &nbsp;&nbsp; 911246 |
| &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA | 5673 | &nbsp;&nbsp; 461516 |
| &nbsp;&nbsp;&nbsp; Daimler Truck Holding AG | 45185 | &nbsp;&nbsp; 2297398 |
| &nbsp;&nbsp;&nbsp; Delivery Hero SE\*† | 18742 | &nbsp;&nbsp; 435271 |
| &nbsp;&nbsp;&nbsp; Deutsche Bank AG | 172148 | &nbsp;&nbsp; 6162309 |
| &nbsp;&nbsp;&nbsp; Deutsche Boerse AG | 17908 | &nbsp;&nbsp; 4917606 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG | 56448 | &nbsp;&nbsp; 606160 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG | 87257 | &nbsp;&nbsp; 5165454 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG | 348576 | &nbsp;&nbsp; 14040902 |
| &nbsp;&nbsp;&nbsp; Dr. Ing. h.c. F. Porsche AG (Preference Shares)\* | 10881 | &nbsp;&nbsp; 532151 |
| &nbsp;&nbsp;&nbsp; E.ON SE | 213517 | &nbsp;&nbsp; 4965101 |
| &nbsp;&nbsp;&nbsp; Evonik Industries AG | 25369 | &nbsp;&nbsp; 443345 |
| &nbsp;&nbsp;&nbsp; Fresenius Medical Care AG | 21278 | &nbsp;&nbsp; 991855 |
| &nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | 39665 | &nbsp;&nbsp; 2385590 |
| &nbsp;&nbsp;&nbsp; GEA Group AG | 13681 | &nbsp;&nbsp; 1065305 |
| &nbsp;&nbsp;&nbsp; Hannover Rueck SE | 5721 | &nbsp;&nbsp; 1742711 |
| &nbsp;&nbsp;&nbsp; Heidelberg Materials AG | 12677 | &nbsp;&nbsp; 2839297 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | 9871 | &nbsp;&nbsp; $895179 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA (Preference Shares) | 15170 | &nbsp;&nbsp; 1490991 |
| &nbsp;&nbsp;&nbsp; Hensoldt AG | 6086 | &nbsp;&nbsp; 535027 |
| &nbsp;&nbsp;&nbsp; HOCHTIEF AG | 1455 | &nbsp;&nbsp; 709353 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG | 123414 | &nbsp;&nbsp; 6682476 |
| &nbsp;&nbsp;&nbsp; Knorr-Bremse AG | 6810 | &nbsp;&nbsp; 897207 |
| &nbsp;&nbsp;&nbsp; LEG Immobilien SE | 6937 | &nbsp;&nbsp; 580331 |
| &nbsp;&nbsp;&nbsp; Mercedes-Benz Group AG | 68681 | &nbsp;&nbsp; 4788055 |
| &nbsp;&nbsp;&nbsp; Merck KGaA | 12291 | &nbsp;&nbsp; 1863307 |
| &nbsp;&nbsp;&nbsp; MTU Aero Engines AG | 5142 | &nbsp;&nbsp; 2220093 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG | 12358 | &nbsp;&nbsp; 8112990 |
| &nbsp;&nbsp;&nbsp; Nemetschek SE | 5500 | &nbsp;&nbsp; 440619 |
| &nbsp;&nbsp;&nbsp; Porsche Automobil Holding SE (Preference Shares) | 13909 | &nbsp;&nbsp; 592149 |
| &nbsp;&nbsp;&nbsp; Rational AG | 510 | &nbsp;&nbsp; 445032 |
| &nbsp;&nbsp;&nbsp; Rheinmetall AG | 4354 | &nbsp;&nbsp; 8558187 |
| &nbsp;&nbsp;&nbsp; RWE AG | 60102 | &nbsp;&nbsp; 3873242 |
| &nbsp;&nbsp;&nbsp; SAP SE | 98941 | &nbsp;&nbsp; 19986711 |
| &nbsp;&nbsp;&nbsp; Sartorius AG (Preference Shares) | 2432 | &nbsp;&nbsp; 690538 |
| &nbsp;&nbsp;&nbsp; Scout24 SE\* | 7105 | &nbsp;&nbsp; 606558 |
| &nbsp;&nbsp;&nbsp; Siemens AG | 72010 | &nbsp;&nbsp; 21050530 |
| &nbsp;&nbsp;&nbsp; Siemens Energy AG | 73431 | &nbsp;&nbsp; 14442214 |
| &nbsp;&nbsp;&nbsp; Siemens Healthineers AG\* | 32657 | &nbsp;&nbsp; 1626078 |
| &nbsp;&nbsp;&nbsp; Symrise AG | 12450 | &nbsp;&nbsp; 1141273 |
| &nbsp;&nbsp;&nbsp; Talanx AG | 6191 | &nbsp;&nbsp; 782736 |
| &nbsp;&nbsp;&nbsp; Volkswagen AG (Preference Shares) | 19370 | &nbsp;&nbsp; 2316224 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | 72181 | &nbsp;&nbsp; 2446944 |
| &nbsp;&nbsp;&nbsp; Zalando SE\*† | 21192 | &nbsp;&nbsp; 519590 |
|  |  | &nbsp;&nbsp; 195108168 |
| **Hong Kong — 1.8%** | **Hong Kong — 1.8%** | **Hong Kong — 1.8%** |
| &nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 995200 | &nbsp;&nbsp; 11041665 |
| &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings, Ltd. | 350500 | &nbsp;&nbsp; 2011587 |
| &nbsp;&nbsp;&nbsp; CK Asset Holdings, Ltd. | 180000 | &nbsp;&nbsp; 1145333 |
| &nbsp;&nbsp;&nbsp; CK Hutchison Holdings, Ltd. | 253500 | &nbsp;&nbsp; 2086740 |
| &nbsp;&nbsp;&nbsp; CLP Holdings, Ltd. | 155000 | &nbsp;&nbsp; 1470077 |
| &nbsp;&nbsp;&nbsp; Futu Holdings, Ltd. ADR† | 5514 | &nbsp;&nbsp; 820704 |
| &nbsp;&nbsp;&nbsp; Galaxy Entertainment Group, Ltd. | 183000 | &nbsp;&nbsp; 976823 |
| &nbsp;&nbsp;&nbsp; Henderson Land Development Co., Ltd.# | 136000 | &nbsp;&nbsp; 616080 |
| &nbsp;&nbsp;&nbsp; HKT Trust & HKT, Ltd. | 359000 | &nbsp;&nbsp; 566258 |
| &nbsp;&nbsp;&nbsp; Hong Kong & China Gas Co., Ltd. | 1043000 | &nbsp;&nbsp; 1014550 |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing, Ltd. | 114200 | &nbsp;&nbsp; 6116241 |
| &nbsp;&nbsp;&nbsp; Link REIT | 244200 | &nbsp;&nbsp; 1209857 |
| &nbsp;&nbsp;&nbsp; MTR Corp., Ltd.# | 149000 | &nbsp;&nbsp; 711156 |
| &nbsp;&nbsp;&nbsp; Power Assets Holdings, Ltd. | 134000 | &nbsp;&nbsp; 1086778 |
| &nbsp;&nbsp;&nbsp; Sino Land Co., Ltd. | 360000 | &nbsp;&nbsp; 588082 |
| &nbsp;&nbsp;&nbsp; SITC International Holdings Co., Ltd. | 132000 | &nbsp;&nbsp; 563203 |
| &nbsp;&nbsp;&nbsp; Sun Hung Kai Properties, Ltd. | 137500 | &nbsp;&nbsp; 2566020 |
| &nbsp;&nbsp;&nbsp; Swire Pacific, Ltd., Class A | 32500 | &nbsp;&nbsp; 349576 |
| &nbsp;&nbsp;&nbsp; Techtronic Industries Co., Ltd. | 139000 | &nbsp;&nbsp; 2267096 |
| &nbsp;&nbsp;&nbsp; WH Group, Ltd.\* | 805500 | &nbsp;&nbsp; 1013130 |
| &nbsp;&nbsp;&nbsp; Wharf Holdings, Ltd.# | 111000 | &nbsp;&nbsp; 367474 |
| &nbsp;&nbsp;&nbsp; Wharf Real Estate Investment Co., Ltd. | 156000 | &nbsp;&nbsp; 576271 |
|  |  | &nbsp;&nbsp; 39164701 |
| **Ireland — 0.4%** | **Ireland — 0.4%** | **Ireland — 0.4%** |
| &nbsp;&nbsp;&nbsp; AIB Group PLC | 203213 | &nbsp;&nbsp; 2125031 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC | 90544 | &nbsp;&nbsp; 1769027 |
| &nbsp;&nbsp;&nbsp; Kerry Group PLC, Class A | 15292 | &nbsp;&nbsp; 1360598 |
| &nbsp;&nbsp;&nbsp; Kingspan Group PLC | 14510 | &nbsp;&nbsp; 1446182 |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings PLC | 80241 | &nbsp;&nbsp; 2599766 |
|  |  | &nbsp;&nbsp; 9300604 |
| **Isle of Man — 0.0%** | **Isle of Man — 0.0%** | **Isle of Man — 0.0%** |
| &nbsp;&nbsp;&nbsp; Entain PLC | 55860 | &nbsp;&nbsp; 432859 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Israel — 1.0%** | **Israel — 1.0%** | **Israel — 1.0%** |
| &nbsp;&nbsp;&nbsp; Azrieli Group, Ltd. | 3958 | &nbsp;&nbsp; $568696 |
| &nbsp;&nbsp;&nbsp; Bank Hapoalim BM | 118933 | &nbsp;&nbsp; 2998952 |
| &nbsp;&nbsp;&nbsp; Bank Leumi Le-Israel BM | 141617 | &nbsp;&nbsp; 3425372 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies, Ltd.† | 7887 | &nbsp;&nbsp; 1199376 |
| &nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.† | 4716 | &nbsp;&nbsp; 212220 |
| &nbsp;&nbsp;&nbsp; Elbit Systems, Ltd. | 2636 | &nbsp;&nbsp; 2018611 |
| &nbsp;&nbsp;&nbsp; ICL Group, Ltd. | 76288 | &nbsp;&nbsp; 360667 |
| &nbsp;&nbsp;&nbsp; Israel Discount Bank, Ltd., Class A | 115786 | &nbsp;&nbsp; 1401215 |
| &nbsp;&nbsp;&nbsp; Mizrahi Tefahot Bank, Ltd. | 15170 | &nbsp;&nbsp; 1136079 |
| &nbsp;&nbsp;&nbsp; Monday.com, Ltd.† | 3468 | &nbsp;&nbsp; 251916 |
| &nbsp;&nbsp;&nbsp; Nice, Ltd.† | 5723 | &nbsp;&nbsp; 648555 |
| &nbsp;&nbsp;&nbsp; Nova, Ltd.† | 2865 | &nbsp;&nbsp; 1257450 |
| &nbsp;&nbsp;&nbsp; Phoenix Financial, Ltd. | 22223 | &nbsp;&nbsp; 1135057 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries, Ltd. ADR† | 109095 | &nbsp;&nbsp; 3693957 |
| &nbsp;&nbsp;&nbsp; Tower Semiconductor, Ltd.† | 10673 | &nbsp;&nbsp; 1348861 |
|  |  | &nbsp;&nbsp; 21656984 |
| **Italy — 2.8%** | **Italy — 2.8%** | **Italy — 2.8%** |
| &nbsp;&nbsp;&nbsp; Banca Mediolanum SpA | 20835 | &nbsp;&nbsp; 449044 |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA | 187783 | &nbsp;&nbsp; 1841197 |
| &nbsp;&nbsp;&nbsp; Banco BPM SpA | 107523 | &nbsp;&nbsp; 1592562 |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA# | 140109 | &nbsp;&nbsp; 1988289 |
| &nbsp;&nbsp;&nbsp; Buzzi SpA | 7559 | &nbsp;&nbsp; 437475 |
| &nbsp;&nbsp;&nbsp; Enel SpA | 769531 | &nbsp;&nbsp; 9269179 |
| &nbsp;&nbsp;&nbsp; Eni SpA | 194282 | &nbsp;&nbsp; 4512303 |
| &nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | 57659 | &nbsp;&nbsp; 1361916 |
| &nbsp;&nbsp;&nbsp; Generali | 80715 | &nbsp;&nbsp; 3448682 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | 1321258 | &nbsp;&nbsp; 9109594 |
| &nbsp;&nbsp;&nbsp; Italgas SpA | 57800 | &nbsp;&nbsp; 747164 |
| &nbsp;&nbsp;&nbsp; Leonardo SpA | 38489 | &nbsp;&nbsp; 2583185 |
| &nbsp;&nbsp;&nbsp; Moncler SpA | 22022 | &nbsp;&nbsp; 1520679 |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA\* | 42898 | &nbsp;&nbsp; 1153158 |
| &nbsp;&nbsp;&nbsp; Prysmian SpA | 26680 | &nbsp;&nbsp; 3231322 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | 10832 | &nbsp;&nbsp; 619732 |
| &nbsp;&nbsp;&nbsp; Snam SpA | 190500 | &nbsp;&nbsp; 1483375 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA† | 1118259 | &nbsp;&nbsp; 840633 |
| &nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | 133033 | &nbsp;&nbsp; 1603357 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | 132831 | &nbsp;&nbsp; 11364976 |
| &nbsp;&nbsp;&nbsp; Unipol Assicurazioni SpA | 34238 | &nbsp;&nbsp; 856041 |
|  |  | &nbsp;&nbsp; 60013863 |
| **Japan — 23.1%** | **Japan — 23.1%** | **Japan — 23.1%** |
| &nbsp;&nbsp;&nbsp; Advantest Corp. | 72600 | &nbsp;&nbsp; 12482374 |
| &nbsp;&nbsp;&nbsp; Aeon Co., Ltd.# | 211800 | &nbsp;&nbsp; 3019708 |
| &nbsp;&nbsp;&nbsp; AGC, Inc. | 18900 | &nbsp;&nbsp; 838709 |
| &nbsp;&nbsp;&nbsp; Aisin Corp. | 47700 | &nbsp;&nbsp; 848988 |
| &nbsp;&nbsp;&nbsp; Ajinomoto Co., Inc. | 86100 | &nbsp;&nbsp; 2739057 |
| &nbsp;&nbsp;&nbsp; ANA Holdings, Inc. | 14500 | &nbsp;&nbsp; 315970 |
| &nbsp;&nbsp;&nbsp; Asahi Group Holdings, Ltd. | 146400 | &nbsp;&nbsp; 1593230 |
| &nbsp;&nbsp;&nbsp; Asahi Kasei Corp. | 122500 | &nbsp;&nbsp; 1446875 |
| &nbsp;&nbsp;&nbsp; Asics Corp. | 66400 | &nbsp;&nbsp; 2038367 |
| &nbsp;&nbsp;&nbsp; Astellas Pharma, Inc. | 172100 | &nbsp;&nbsp; 2866956 |
| &nbsp;&nbsp;&nbsp; Bandai Namco Holdings, Inc. | 55300 | &nbsp;&nbsp; 1502854 |
| &nbsp;&nbsp;&nbsp; Bridgestone Corp. | 109200 | &nbsp;&nbsp; 2654392 |
| &nbsp;&nbsp;&nbsp; Canon, Inc.# | 82400 | &nbsp;&nbsp; 2512655 |
| &nbsp;&nbsp;&nbsp; Capcom Co., Ltd. | 33200 | &nbsp;&nbsp; 763856 |
| &nbsp;&nbsp;&nbsp; Central Japan Railway Co. | 73500 | &nbsp;&nbsp; 2168783 |
| &nbsp;&nbsp;&nbsp; Chiba Bank, Ltd.# | 53700 | &nbsp;&nbsp; 800179 |
| &nbsp;&nbsp;&nbsp; Chubu Electric Power Co., Inc. | 65900 | &nbsp;&nbsp; 1112997 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. | 63800 | &nbsp;&nbsp; 4271309 |
| &nbsp;&nbsp;&nbsp; Dai Nippon Printing Co., Ltd. | 37200 | &nbsp;&nbsp; 774181 |
| &nbsp;&nbsp;&nbsp; Daifuku Co., Ltd.# | 30300 | &nbsp;&nbsp; 1255733 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | 333000 | &nbsp;&nbsp; $3435232 |
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co., Ltd. | 170500 | &nbsp;&nbsp; 3345257 |
| &nbsp;&nbsp;&nbsp; Daikin Industries, Ltd. | 25100 | &nbsp;&nbsp; 3200887 |
| &nbsp;&nbsp;&nbsp; Daito Trust Construction Co., Ltd. | 27400 | &nbsp;&nbsp; 631640 |
| &nbsp;&nbsp;&nbsp; Daiwa House Industry Co., Ltd. | 53200 | &nbsp;&nbsp; 1922374 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Group, Inc. | 125800 | &nbsp;&nbsp; 1325949 |
| &nbsp;&nbsp;&nbsp; Denso Corp. | 166100 | &nbsp;&nbsp; 2393142 |
| &nbsp;&nbsp;&nbsp; Disco Corp. | 8800 | &nbsp;&nbsp; 4254474 |
| &nbsp;&nbsp;&nbsp; East Japan Railway Co. | 92100 | &nbsp;&nbsp; 2276477 |
| &nbsp;&nbsp;&nbsp; Ebara Corp. | 43600 | &nbsp;&nbsp; 1547281 |
| &nbsp;&nbsp;&nbsp; Eisai Co., Ltd. | 24300 | &nbsp;&nbsp; 815524 |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | 258300 | &nbsp;&nbsp; 2461181 |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | 88700 | &nbsp;&nbsp; 4040106 |
| &nbsp;&nbsp;&nbsp; Fast Retailing Co., Ltd. | 18100 | &nbsp;&nbsp; 8000788 |
| &nbsp;&nbsp;&nbsp; Fuji Electric Co., Ltd. | 13200 | &nbsp;&nbsp; 1175756 |
| &nbsp;&nbsp;&nbsp; FUJIFILM Holdings Corp. | 106800 | &nbsp;&nbsp; 2218546 |
| &nbsp;&nbsp;&nbsp; Fujikura, Ltd. | 23800 | &nbsp;&nbsp; 4079064 |
| &nbsp;&nbsp;&nbsp; Fujitsu, Ltd. | 167400 | &nbsp;&nbsp; 3846132 |
| &nbsp;&nbsp;&nbsp; Hankyu Hanshin Holdings, Inc.# | 22600 | &nbsp;&nbsp; 659194 |
| &nbsp;&nbsp;&nbsp; Hikari Tsushin, Inc. | 1500 | &nbsp;&nbsp; 424647 |
| &nbsp;&nbsp;&nbsp; Hitachi, Ltd. | 434300 | &nbsp;&nbsp; 14533678 |
| &nbsp;&nbsp;&nbsp; Honda Motor Co., Ltd. | 351500 | &nbsp;&nbsp; 3566431 |
| &nbsp;&nbsp;&nbsp; Hoya Corp. | 32100 | &nbsp;&nbsp; 5809922 |
| &nbsp;&nbsp;&nbsp; Hulic Co., Ltd. | 42800 | &nbsp;&nbsp; 567049 |
| &nbsp;&nbsp;&nbsp; Ibiden Co., Ltd. | 22700 | &nbsp;&nbsp; 1386289 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co., Ltd. | 72900 | &nbsp;&nbsp; 696020 |
| &nbsp;&nbsp;&nbsp; IHI Corp.# | 97900 | &nbsp;&nbsp; 2697555 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | 83800 | &nbsp;&nbsp; 2039125 |
| &nbsp;&nbsp;&nbsp; Isuzu Motors, Ltd. | 51600 | &nbsp;&nbsp; 964330 |
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. | 565200 | &nbsp;&nbsp; 8215695 |
| &nbsp;&nbsp;&nbsp; Japan Airlines Co., Ltd. | 13000 | &nbsp;&nbsp; 268716 |
| &nbsp;&nbsp;&nbsp; Japan Exchange Group, Inc. | 92900 | &nbsp;&nbsp; 1270374 |
| &nbsp;&nbsp;&nbsp; Japan Post Bank Co., Ltd. | 170000 | &nbsp;&nbsp; 3332181 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co., Ltd. | 169600 | &nbsp;&nbsp; 2211159 |
| &nbsp;&nbsp;&nbsp; Japan Post Insurance Co., Ltd. | 17200 | &nbsp;&nbsp; 561934 |
| &nbsp;&nbsp;&nbsp; Japan Tobacco, Inc. | 114100 | &nbsp;&nbsp; 4374326 |
| &nbsp;&nbsp;&nbsp; JFE Holdings, Inc.# | 55100 | &nbsp;&nbsp; 776407 |
| &nbsp;&nbsp;&nbsp; JX Advanced Metals Corp. | 53100 | &nbsp;&nbsp; 1414164 |
| &nbsp;&nbsp;&nbsp; Kajima Corp. | 40200 | &nbsp;&nbsp; 1838494 |
| &nbsp;&nbsp;&nbsp; Kansai Electric Power Co., Inc. | 89800 | &nbsp;&nbsp; 1623318 |
| &nbsp;&nbsp;&nbsp; Kao Corp. | 43000 | &nbsp;&nbsp; 1837684 |
| &nbsp;&nbsp;&nbsp; Kawasaki Heavy Industries, Ltd. | 14200 | &nbsp;&nbsp; 1659917 |
| &nbsp;&nbsp;&nbsp; Kawasaki Kisen Kaisha, Ltd.# | 32500 | &nbsp;&nbsp; 522989 |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | 278800 | &nbsp;&nbsp; 4768513 |
| &nbsp;&nbsp;&nbsp; Keyence Corp. | 18500 | &nbsp;&nbsp; 7825761 |
| &nbsp;&nbsp;&nbsp; Kikkoman Corp.# | 63900 | &nbsp;&nbsp; 613774 |
| &nbsp;&nbsp;&nbsp; Kioxia Holdings Corp.† | 17800 | &nbsp;&nbsp; 2417558 |
| &nbsp;&nbsp;&nbsp; Kirin Holdings Co., Ltd. | 72900 | &nbsp;&nbsp; 1263665 |
| &nbsp;&nbsp;&nbsp; Komatsu, Ltd. | 90400 | &nbsp;&nbsp; 4360665 |
| &nbsp;&nbsp;&nbsp; Konami Group Corp.# | 9400 | &nbsp;&nbsp; 1253815 |
| &nbsp;&nbsp;&nbsp; Kubota Corp. | 93000 | &nbsp;&nbsp; 1891384 |
| &nbsp;&nbsp;&nbsp; Kyocera Corp. | 122100 | &nbsp;&nbsp; 2160685 |
| &nbsp;&nbsp;&nbsp; Kyowa Kirin Co., Ltd. | 23400 | &nbsp;&nbsp; 432293 |
| &nbsp;&nbsp;&nbsp; Lasertec Corp.# | 7500 | &nbsp;&nbsp; 1616559 |
| &nbsp;&nbsp;&nbsp; LY Corp. | 262300 | &nbsp;&nbsp; 653378 |
| &nbsp;&nbsp;&nbsp; M3, Inc.# | 40600 | &nbsp;&nbsp; 446648 |
| &nbsp;&nbsp;&nbsp; Makita Corp. | 21100 | &nbsp;&nbsp; 818112 |
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | 134200 | &nbsp;&nbsp; 5162960 |
| &nbsp;&nbsp;&nbsp; MatsukiyoCocokara & Co. | 30400 | &nbsp;&nbsp; 503990 |
| &nbsp;&nbsp;&nbsp; Minebea Mitsumi, Inc. | 35300 | &nbsp;&nbsp; 760409 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | 116200 | &nbsp;&nbsp; 863510 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Corp. | 306500 | &nbsp;&nbsp; 10382512 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corp. | 180900 | &nbsp;&nbsp; 6939915 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; Mitsubishi Estate Co., Ltd. | 100400 | &nbsp;&nbsp; $3393278 |
| &nbsp;&nbsp;&nbsp; Mitsubishi HC Capital, Inc. | 84100 | &nbsp;&nbsp; 815339 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Heavy Industries, Ltd. | 304800 | &nbsp;&nbsp; 9786234 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. | 1069300 | &nbsp;&nbsp; 20326046 |
| &nbsp;&nbsp;&nbsp; Mitsui & Co., Ltd. | 234900 | &nbsp;&nbsp; 8832535 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Co., Ltd. | 250300 | &nbsp;&nbsp; 3376281 |
| &nbsp;&nbsp;&nbsp; Mitsui OSK Lines, Ltd.# | 33400 | &nbsp;&nbsp; 1240055 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. | 236800 | &nbsp;&nbsp; 10843382 |
| &nbsp;&nbsp;&nbsp; MonotaRO Co., Ltd.# | 24600 | &nbsp;&nbsp; 327732 |
| &nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings, Inc. | 121900 | &nbsp;&nbsp; 3415838 |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co., Ltd. | 158200 | &nbsp;&nbsp; 4161532 |
| &nbsp;&nbsp;&nbsp; NEC Corp. | 123200 | &nbsp;&nbsp; 3419132 |
| &nbsp;&nbsp;&nbsp; Nexon Co., Ltd. | 35200 | &nbsp;&nbsp; 748562 |
| &nbsp;&nbsp;&nbsp; NIDEC Corp.# | 78300 | &nbsp;&nbsp; 1234429 |
| &nbsp;&nbsp;&nbsp; Nintendo Co., Ltd. | 105000 | &nbsp;&nbsp; 6047930 |
| &nbsp;&nbsp;&nbsp; Nippon Building Fund, Inc. | 742 | &nbsp;&nbsp; 690376 |
| &nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co., Ltd.# | 90700 | &nbsp;&nbsp; 671981 |
| &nbsp;&nbsp;&nbsp; Nippon Sanso Holdings Corp.# | 16100 | &nbsp;&nbsp; 617855 |
| &nbsp;&nbsp;&nbsp; Nippon Steel Corp.# | 459900 | &nbsp;&nbsp; 1872996 |
| &nbsp;&nbsp;&nbsp; Nippon Yusen KK# | 38800 | &nbsp;&nbsp; 1333956 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Co., Ltd.† | 210800 | &nbsp;&nbsp; 584757 |
| &nbsp;&nbsp;&nbsp; Nitori Holdings Co., Ltd.# | 38000 | &nbsp;&nbsp; 761144 |
| &nbsp;&nbsp;&nbsp; Nitto Denko Corp.# | 64100 | &nbsp;&nbsp; 1492855 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. | 285800 | &nbsp;&nbsp; 2658243 |
| &nbsp;&nbsp;&nbsp; Nomura Research Institute, Ltd.# | 36700 | &nbsp;&nbsp; 1026279 |
| &nbsp;&nbsp;&nbsp; NTT, Inc. | 2822100 | &nbsp;&nbsp; 2770326 |
| &nbsp;&nbsp;&nbsp; Obayashi Corp. | 60000 | &nbsp;&nbsp; 1696667 |
| &nbsp;&nbsp;&nbsp; Obic Co., Ltd. | 31300 | &nbsp;&nbsp; 841802 |
| &nbsp;&nbsp;&nbsp; Olympus Corp.# | 107300 | &nbsp;&nbsp; 1049879 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. Japan | 3700 | &nbsp;&nbsp; 223471 |
| &nbsp;&nbsp;&nbsp; Oriental Land Co., Ltd.# | 102700 | &nbsp;&nbsp; 1851908 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | 110500 | &nbsp;&nbsp; 3922143 |
| &nbsp;&nbsp;&nbsp; Osaka Gas Co., Ltd. | 33600 | &nbsp;&nbsp; 1401963 |
| &nbsp;&nbsp;&nbsp; Otsuka Corp. | 20700 | &nbsp;&nbsp; 417407 |
| &nbsp;&nbsp;&nbsp; Otsuka Holdings Co., Ltd. | 41600 | &nbsp;&nbsp; 2852982 |
| &nbsp;&nbsp;&nbsp; Pan Pacific International Holdings Corp. | 178800 | &nbsp;&nbsp; 1190741 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | 221800 | &nbsp;&nbsp; 3603282 |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc.† | 146800 | &nbsp;&nbsp; 778440 |
| &nbsp;&nbsp;&nbsp; Recruit Holdings Co., Ltd. | 133900 | &nbsp;&nbsp; 5887090 |
| &nbsp;&nbsp;&nbsp; Renesas Electronics Corp. | 169000 | &nbsp;&nbsp; 3213018 |
| &nbsp;&nbsp;&nbsp; Resona Holdings, Inc. | 198400 | &nbsp;&nbsp; 2427197 |
| &nbsp;&nbsp;&nbsp; Ryohin Keikaku Co., Ltd.# | 49000 | &nbsp;&nbsp; 1128633 |
| &nbsp;&nbsp;&nbsp; Sanrio Co., Ltd. | 16800 | &nbsp;&nbsp; 615995 |
| &nbsp;&nbsp;&nbsp; SBI Holdings, Inc.# | 52600 | &nbsp;&nbsp; 1128358 |
| &nbsp;&nbsp;&nbsp; SCREEN Holdings Co., Ltd.# | 7800 | &nbsp;&nbsp; 1145039 |
| &nbsp;&nbsp;&nbsp; Secom Co., Ltd. | 37500 | &nbsp;&nbsp; 1449909 |
| &nbsp;&nbsp;&nbsp; Seibu Holdings, Inc. | 19400 | &nbsp;&nbsp; 576416 |
| &nbsp;&nbsp;&nbsp; Sekisui Chemical Co., Ltd. | 35300 | &nbsp;&nbsp; 689205 |
| &nbsp;&nbsp;&nbsp; Sekisui House, Ltd. | 56100 | &nbsp;&nbsp; 1374435 |
| &nbsp;&nbsp;&nbsp; Seven & i Holdings Co., Ltd.# | 198200 | &nbsp;&nbsp; 2786464 |
| &nbsp;&nbsp;&nbsp; Shimadzu Corp.# | 22700 | &nbsp;&nbsp; 633620 |
| &nbsp;&nbsp;&nbsp; Shimano, Inc. | 6900 | &nbsp;&nbsp; 740524 |
| &nbsp;&nbsp;&nbsp; Shimizu Corp. | 47600 | &nbsp;&nbsp; 1064687 |
| &nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co., Ltd. | 160500 | &nbsp;&nbsp; 6339218 |
| &nbsp;&nbsp;&nbsp; Shionogi & Co., Ltd. | 71700 | &nbsp;&nbsp; 1682251 |
| &nbsp;&nbsp;&nbsp; Shiseido Co., Ltd. | 38000 | &nbsp;&nbsp; 802997 |
| &nbsp;&nbsp;&nbsp; SMC Corp. | 5400 | &nbsp;&nbsp; 2607934 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp.# | 2731500 | &nbsp;&nbsp; 3739600 |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. | 352100 | &nbsp;&nbsp; 9219331 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings, Inc. | 84400 | &nbsp;&nbsp; 3375135 |
| &nbsp;&nbsp;&nbsp; Sony Financial Holdings, Inc.† | 570100 | &nbsp;&nbsp; 583735 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. | 584900 | &nbsp;&nbsp; 13644483 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; Subaru Corp. | 54900 | &nbsp;&nbsp; $1042877 |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | 103700 | &nbsp;&nbsp; 4424507 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries, Ltd. | 67700 | &nbsp;&nbsp; 4497727 |
| &nbsp;&nbsp;&nbsp; Sumitomo Metal Mining Co., Ltd. | 23500 | &nbsp;&nbsp; 1899834 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | 347400 | &nbsp;&nbsp; 13340747 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Group, Inc. | 60300 | &nbsp;&nbsp; 2117151 |
| &nbsp;&nbsp;&nbsp; Sumitomo Realty & Development Co., Ltd. | 57900 | &nbsp;&nbsp; 1960588 |
| &nbsp;&nbsp;&nbsp; Suntory Beverage & Food, Ltd. | 13800 | &nbsp;&nbsp; 434506 |
| &nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | 149500 | &nbsp;&nbsp; 2269329 |
| &nbsp;&nbsp;&nbsp; Sysmex Corp.# | 45700 | &nbsp;&nbsp; 430765 |
| &nbsp;&nbsp;&nbsp; T&D Holdings, Inc.# | 43400 | &nbsp;&nbsp; 1171118 |
| &nbsp;&nbsp;&nbsp; Taisei Corp. | 13900 | &nbsp;&nbsp; 1810431 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co., Ltd. | 151300 | &nbsp;&nbsp; 5637721 |
| &nbsp;&nbsp;&nbsp; TDK Corp. | 185800 | &nbsp;&nbsp; 2884591 |
| &nbsp;&nbsp;&nbsp; Terumo Corp. | 126400 | &nbsp;&nbsp; 1707835 |
| &nbsp;&nbsp;&nbsp; TIS, Inc. | 20500 | &nbsp;&nbsp; 423219 |
| &nbsp;&nbsp;&nbsp; Toho Co., Ltd.# | 49500 | &nbsp;&nbsp; 496062 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. | 174700 | &nbsp;&nbsp; 7301680 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron, Ltd. | 42600 | &nbsp;&nbsp; 12005417 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co., Ltd. | 29800 | &nbsp;&nbsp; 1460947 |
| &nbsp;&nbsp;&nbsp; Tokyu Corp. | 46800 | &nbsp;&nbsp; 598617 |
| &nbsp;&nbsp;&nbsp; Toppan Holdings, Inc.# | 22300 | &nbsp;&nbsp; 766110 |
| &nbsp;&nbsp;&nbsp; Toray Industries, Inc. | 134300 | &nbsp;&nbsp; 1152384 |
| &nbsp;&nbsp;&nbsp; Toyota Industries Corp.# | 15300 | &nbsp;&nbsp; 1982000 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | 898800 | &nbsp;&nbsp; 22014600 |
| &nbsp;&nbsp;&nbsp; Toyota Tsusho Corp. | 65000 | &nbsp;&nbsp; 2908590 |
| &nbsp;&nbsp;&nbsp; Tsuruha Holdings, Inc.# | 23200 | &nbsp;&nbsp; 389972 |
| &nbsp;&nbsp;&nbsp; Unicharm Corp.# | 106100 | &nbsp;&nbsp; 726629 |
| &nbsp;&nbsp;&nbsp; West Japan Railway Co. | 38900 | &nbsp;&nbsp; 835466 |
| &nbsp;&nbsp;&nbsp; Yamaha Motor Co., Ltd. | 87300 | &nbsp;&nbsp; 694867 |
| &nbsp;&nbsp;&nbsp; Yokogawa Electric Corp. | 21800 | &nbsp;&nbsp; 871777 |
| &nbsp;&nbsp;&nbsp; Yokohama Financial Group, Inc. | 99500 | &nbsp;&nbsp; 1076778 |
| &nbsp;&nbsp;&nbsp; Zensho Holdings Co., Ltd.# | 9000 | &nbsp;&nbsp; 572222 |
| &nbsp;&nbsp;&nbsp; ZOZO, Inc.# | 40600 | &nbsp;&nbsp; 296119 |
|  |  | &nbsp;&nbsp; 496702902 |
| **Jersey — 0.5%** | **Jersey — 0.5%** | **Jersey — 0.5%** |
| &nbsp;&nbsp;&nbsp; CVC Capital Partners PLC\* | 20847 | &nbsp;&nbsp; 297811 |
| &nbsp;&nbsp;&nbsp; Experian PLC | 86939 | &nbsp;&nbsp; 3264172 |
| &nbsp;&nbsp;&nbsp; Glencore PLC | 946084 | &nbsp;&nbsp; 6808451 |
|  |  | &nbsp;&nbsp; 10370434 |
| **Luxembourg — 0.6%** | **Luxembourg — 0.6%** | **Luxembourg — 0.6%** |
| &nbsp;&nbsp;&nbsp; ArcelorMittal SA | 40428 | &nbsp;&nbsp; 2650265 |
| &nbsp;&nbsp;&nbsp; Eurofins Scientific SE | 11414 | &nbsp;&nbsp; 919259 |
| &nbsp;&nbsp;&nbsp; InPost SA#† | 22598 | &nbsp;&nbsp; 405867 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 14871 | &nbsp;&nbsp; 7657673 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | 35956 | &nbsp;&nbsp; 982267 |
|  |  | &nbsp;&nbsp; 12615331 |
| **Macau — 0.0%** | **Macau — 0.0%** | **Macau — 0.0%** |
| &nbsp;&nbsp;&nbsp; Sands China, Ltd. | 224400 | &nbsp;&nbsp; 507979 |
| **Netherlands — 6.4%** | **Netherlands — 6.4%** | **Netherlands — 6.4%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV CVA\* | 55362 | &nbsp;&nbsp; 1855191 |
| &nbsp;&nbsp;&nbsp; Adyen NV\*† | 2398 | &nbsp;&nbsp; 2818743 |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | 15881 | &nbsp;&nbsp; 2373257 |
| &nbsp;&nbsp;&nbsp; Airbus SE | 56302 | &nbsp;&nbsp; 12256833 |
| &nbsp;&nbsp;&nbsp; Akzo Nobel NV | 16048 | &nbsp;&nbsp; 1130533 |
| &nbsp;&nbsp;&nbsp; Argenx SE† | 5855 | &nbsp;&nbsp; 4548070 |
| &nbsp;&nbsp;&nbsp; ASM International NV | 4457 | &nbsp;&nbsp; 3761257 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 36777 | &nbsp;&nbsp; 53598270 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | 14676 | &nbsp;&nbsp; 1065441 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | 6902 | &nbsp;&nbsp; 1544634 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| &nbsp;&nbsp;&nbsp; CSG NV† | 19272 | &nbsp;&nbsp; $724826 |
| &nbsp;&nbsp;&nbsp; Davide Campari-Milano NV# | 61312 | &nbsp;&nbsp; 462062 |
| &nbsp;&nbsp;&nbsp; Euronext NV\* | 7120 | &nbsp;&nbsp; 1177819 |
| &nbsp;&nbsp;&nbsp; EXOR NV | 8900 | &nbsp;&nbsp; 781883 |
| &nbsp;&nbsp;&nbsp; Ferrari NV | 11873 | &nbsp;&nbsp; 4508965 |
| &nbsp;&nbsp;&nbsp; Ferrovial SE# | 48770 | &nbsp;&nbsp; 3639698 |
| &nbsp;&nbsp;&nbsp; Heineken Holding NV | 12523 | &nbsp;&nbsp; 1083153 |
| &nbsp;&nbsp;&nbsp; Heineken NV | 27047 | &nbsp;&nbsp; 2510679 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | 276981 | &nbsp;&nbsp; 8060926 |
| &nbsp;&nbsp;&nbsp; JDE Peet's NV | 16066 | &nbsp;&nbsp; 601780 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | 85194 | &nbsp;&nbsp; 4204787 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 369774 | &nbsp;&nbsp; 2097677 |
| &nbsp;&nbsp;&nbsp; Koninklijke Philips NV | 73482 | &nbsp;&nbsp; 2351257 |
| &nbsp;&nbsp;&nbsp; Magnum Ice Cream Co. NV† | 47152 | &nbsp;&nbsp; 748584 |
| &nbsp;&nbsp;&nbsp; Nebius Group NV#† | 20173 | &nbsp;&nbsp; 1839576 |
| &nbsp;&nbsp;&nbsp; NN Group NV | 25642 | &nbsp;&nbsp; 2099692 |
| &nbsp;&nbsp;&nbsp; Prosus NV | 123622 | &nbsp;&nbsp; 6355583 |
| &nbsp;&nbsp;&nbsp; QIAGEN NV | 19139 | &nbsp;&nbsp; 948910 |
| &nbsp;&nbsp;&nbsp; Randstad NV# | 10751 | &nbsp;&nbsp; 353535 |
| &nbsp;&nbsp;&nbsp; Stellantis NV | 190776 | &nbsp;&nbsp; 1564647 |
| &nbsp;&nbsp;&nbsp; STMicroelectronics NV | 64394 | &nbsp;&nbsp; 2161659 |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV# | 104661 | &nbsp;&nbsp; 2363285 |
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | 22065 | &nbsp;&nbsp; 1775504 |
|  |  | &nbsp;&nbsp; 137368716 |
| **New Zealand — 0.2%** | **New Zealand — 0.2%** | **New Zealand — 0.2%** |
| &nbsp;&nbsp;&nbsp; Auckland International Airport, Ltd. | 162698 | &nbsp;&nbsp; 893965 |
| &nbsp;&nbsp;&nbsp; Contact Energy, Ltd. | 81900 | &nbsp;&nbsp; 456396 |
| &nbsp;&nbsp;&nbsp; Fisher & Paykel Healthcare Corp., Ltd. | 55256 | &nbsp;&nbsp; 1355644 |
| &nbsp;&nbsp;&nbsp; Infratil, Ltd.# | 86261 | &nbsp;&nbsp; 580564 |
| &nbsp;&nbsp;&nbsp; Meridian Energy, Ltd. | 126991 | &nbsp;&nbsp; 431154 |
| &nbsp;&nbsp;&nbsp; Xero, Ltd.† | 15356 | &nbsp;&nbsp; 908562 |
|  |  | &nbsp;&nbsp; 4626285 |
| **Norway — 0.6%** | **Norway — 0.6%** | **Norway — 0.6%** |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | 30041 | &nbsp;&nbsp; 904235 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | 84430 | &nbsp;&nbsp; 2677203 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | 73058 | &nbsp;&nbsp; 2163702 |
| &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | 18464 | &nbsp;&nbsp; 521201 |
| &nbsp;&nbsp;&nbsp; Kongsberg Gruppen ASA | 41693 | &nbsp;&nbsp; 1691697 |
| &nbsp;&nbsp;&nbsp; Mowi ASA | 43493 | &nbsp;&nbsp; 1025539 |
| &nbsp;&nbsp;&nbsp; Norsk Hydro ASA | 129922 | &nbsp;&nbsp; 1204350 |
| &nbsp;&nbsp;&nbsp; Orkla ASA | 67162 | &nbsp;&nbsp; 918963 |
| &nbsp;&nbsp;&nbsp; Salmar ASA | 6407 | &nbsp;&nbsp; 383411 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | 59321 | &nbsp;&nbsp; 1099912 |
| &nbsp;&nbsp;&nbsp; Yara International ASA | 16004 | &nbsp;&nbsp; 809095 |
|  |  | &nbsp;&nbsp; 13399308 |
| **Portugal — 0.2%** | **Portugal — 0.2%** | **Portugal — 0.2%** |
| &nbsp;&nbsp;&nbsp; Banco Comercial Portugues SA | 724165 | &nbsp;&nbsp; 762918 |
| &nbsp;&nbsp;&nbsp; EDP SA | 297147 | &nbsp;&nbsp; 1585608 |
| &nbsp;&nbsp;&nbsp; Galp Energia SGPS SA | 39507 | &nbsp;&nbsp; 850536 |
| &nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | 26806 | &nbsp;&nbsp; 705063 |
|  |  | &nbsp;&nbsp; 3904125 |
| **Singapore — 1.6%** | **Singapore — 1.6%** | **Singapore — 1.6%** |
| &nbsp;&nbsp;&nbsp; CapitaLand Ascendas REIT | 376500 | &nbsp;&nbsp; 800684 |
| &nbsp;&nbsp;&nbsp; CapitaLand Integrated Commercial Trust | 576682 | &nbsp;&nbsp; 1116982 |
| &nbsp;&nbsp;&nbsp; CapitaLand Investment, Ltd.# | 234200 | &nbsp;&nbsp; 566568 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings, Ltd. | 201700 | &nbsp;&nbsp; 9108312 |
| &nbsp;&nbsp;&nbsp; Grab Holdings, Ltd., Class A† | 211245 | &nbsp;&nbsp; 891454 |
| &nbsp;&nbsp;&nbsp; Keppel, Ltd. | 141700 | &nbsp;&nbsp; 1465283 |
| &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp., Ltd. | 320900 | &nbsp;&nbsp; 5436704 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Singapore (continued)** | **Singapore (continued)** | **Singapore (continued)** |
| &nbsp;&nbsp;&nbsp; Sea, Ltd. ADR† | 36125 | &nbsp;&nbsp; $3917756 |
| &nbsp;&nbsp;&nbsp; Sembcorp Industries, Ltd.# | 79900 | &nbsp;&nbsp; 386582 |
| &nbsp;&nbsp;&nbsp; Singapore Airlines, Ltd. | 149900 | &nbsp;&nbsp; 850883 |
| &nbsp;&nbsp;&nbsp; Singapore Exchange, Ltd. | 80800 | &nbsp;&nbsp; 1162590 |
| &nbsp;&nbsp;&nbsp; Singapore Technologies Engineering, Ltd. | 146500 | &nbsp;&nbsp; 1154720 |
| &nbsp;&nbsp;&nbsp; Singapore Telecommunications, Ltd. | 704100 | &nbsp;&nbsp; 2805490 |
| &nbsp;&nbsp;&nbsp; United Overseas Bank, Ltd. | 118800 | &nbsp;&nbsp; 3472240 |
| &nbsp;&nbsp;&nbsp; Wilmar International, Ltd. | 178500 | &nbsp;&nbsp; 496735 |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings, Ltd. | 246400 | &nbsp;&nbsp; 845423 |
|  |  | &nbsp;&nbsp; 34478406 |
| **Spain — 3.6%** | **Spain — 3.6%** | **Spain — 3.6%** |
| &nbsp;&nbsp;&nbsp; Acciona SA# | 2304 | &nbsp;&nbsp; 671890 |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | 16802 | &nbsp;&nbsp; 2175916 |
| &nbsp;&nbsp;&nbsp; Aena SME SA\* | 71620 | &nbsp;&nbsp; 2256981 |
| &nbsp;&nbsp;&nbsp; Amadeus IT Group SA | 42844 | &nbsp;&nbsp; 2669935 |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | 541467 | &nbsp;&nbsp; 12636000 |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA | 478083 | &nbsp;&nbsp; 1812209 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | 1393209 | &nbsp;&nbsp; 17762670 |
| &nbsp;&nbsp;&nbsp; Bankinter SA | 62937 | &nbsp;&nbsp; 1054143 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | 370621 | &nbsp;&nbsp; 4606980 |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom SA\*# | 46919 | &nbsp;&nbsp; 1781825 |
| &nbsp;&nbsp;&nbsp; EDP Renovaveis SA | 29084 | &nbsp;&nbsp; 459125 |
| &nbsp;&nbsp;&nbsp; Endesa SA | 29762 | &nbsp;&nbsp; 1215716 |
| &nbsp;&nbsp;&nbsp; Grifols SA# | 29440 | &nbsp;&nbsp; 369778 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | 609634 | &nbsp;&nbsp; 14442889 |
| &nbsp;&nbsp;&nbsp; Indra Sistemas SA | 7540 | &nbsp;&nbsp; 559056 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | 103126 | &nbsp;&nbsp; 6923727 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | 110059 | &nbsp;&nbsp; 627601 |
| &nbsp;&nbsp;&nbsp; Mapfre SA | 90379 | &nbsp;&nbsp; 421828 |
| &nbsp;&nbsp;&nbsp; Naturgy Energy Group SA | 22908 | &nbsp;&nbsp; 712974 |
| &nbsp;&nbsp;&nbsp; Repsol SA | 107311 | &nbsp;&nbsp; 2411077 |
| &nbsp;&nbsp;&nbsp; Telefonica SA# | 348276 | &nbsp;&nbsp; 1584363 |
|  |  | &nbsp;&nbsp; 77156683 |
| **SupraNational — 0.1%** | **SupraNational — 0.1%** | **SupraNational — 0.1%** |
| &nbsp;&nbsp;&nbsp; Unibail-Rodamco-Westfield | 11487 | &nbsp;&nbsp; 1440778 |
| **Sweden — 3.4%** | **Sweden — 3.4%** | **Sweden — 3.4%** |
| &nbsp;&nbsp;&nbsp; AddTech AB, Class B | 25070 | &nbsp;&nbsp; 929197 |
| &nbsp;&nbsp;&nbsp; Alfa Laval AB | 27404 | &nbsp;&nbsp; 1624035 |
| &nbsp;&nbsp;&nbsp; Assa Abloy AB, Class B | 95321 | &nbsp;&nbsp; 4071489 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class A | 255452 | &nbsp;&nbsp; 5519287 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class B | 148443 | &nbsp;&nbsp; 2792884 |
| &nbsp;&nbsp;&nbsp; Beijer Ref AB | 38417 | &nbsp;&nbsp; 602792 |
| &nbsp;&nbsp;&nbsp; Boliden AB† | 27059 | &nbsp;&nbsp; 2150309 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, Class A | 62658 | &nbsp;&nbsp; 1887180 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, Class B | 36933 | &nbsp;&nbsp; 961413 |
| &nbsp;&nbsp;&nbsp; EQT AB | 46742 | &nbsp;&nbsp; 1450267 |
| &nbsp;&nbsp;&nbsp; Essity AB, Class B | 57242 | &nbsp;&nbsp; 1821705 |
| &nbsp;&nbsp;&nbsp; Evolution AB\* | 12803 | &nbsp;&nbsp; 777744 |
| &nbsp;&nbsp;&nbsp; Fastighets AB Balder, Class B† | 67042 | &nbsp;&nbsp; 504397 |
| &nbsp;&nbsp;&nbsp; H & M Hennes & Mauritz AB, Class B | 47757 | &nbsp;&nbsp; 1019404 |
| &nbsp;&nbsp;&nbsp; Hexagon AB, Class B | 197450 | &nbsp;&nbsp; 2250610 |
| &nbsp;&nbsp;&nbsp; Holmen AB, Class B | 6877 | &nbsp;&nbsp; 271649 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, Class A | 11148 | &nbsp;&nbsp; 635346 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, Class C | 15031 | &nbsp;&nbsp; 852150 |
| &nbsp;&nbsp;&nbsp; Indutrade AB | 25205 | &nbsp;&nbsp; 655560 |
| &nbsp;&nbsp;&nbsp; Investment AB Latour, Class B | 14642 | &nbsp;&nbsp; 374014 |
| &nbsp;&nbsp;&nbsp; Investor AB, Class B | 173271 | &nbsp;&nbsp; 7250335 |
| &nbsp;&nbsp;&nbsp; L E Lundbergforetagen AB, Class B | 6939 | &nbsp;&nbsp; 455805 |
| &nbsp;&nbsp;&nbsp; Lifco AB, Class B | 22426 | &nbsp;&nbsp; 799403 |
| &nbsp;&nbsp;&nbsp; Nibe Industrier AB, Class B | 141935 | &nbsp;&nbsp; 582827 |
| &nbsp;&nbsp;&nbsp; Saab AB, Class B | 30061 | &nbsp;&nbsp; 2175756 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| &nbsp;&nbsp;&nbsp; Sagax AB, Class B | 19935 | &nbsp;&nbsp; $421772 |
| &nbsp;&nbsp;&nbsp; Sandvik AB | 100395 | &nbsp;&nbsp; 4441686 |
| &nbsp;&nbsp;&nbsp; Securitas AB, Class B | 47076 | &nbsp;&nbsp; 837998 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, Class A | 142862 | &nbsp;&nbsp; 3051065 |
| &nbsp;&nbsp;&nbsp; Skanska AB, Class B | 31604 | &nbsp;&nbsp; 973228 |
| &nbsp;&nbsp;&nbsp; SKF AB, Class B | 32985 | &nbsp;&nbsp; 948525 |
| &nbsp;&nbsp;&nbsp; Svenska Cellulosa AB SCA, Class B | 57662 | &nbsp;&nbsp; 784680 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A | 139258 | &nbsp;&nbsp; 2230572 |
| &nbsp;&nbsp;&nbsp; Swedbank AB, Class A | 79981 | &nbsp;&nbsp; 3081372 |
| &nbsp;&nbsp;&nbsp; Swedish Orphan Biovitrum AB† | 18174 | &nbsp;&nbsp; 796003 |
| &nbsp;&nbsp;&nbsp; Tele2 AB, Class B | 50885 | &nbsp;&nbsp; 1075464 |
| &nbsp;&nbsp;&nbsp; Telefonaktiebolaget LM Ericsson, Class B | 264604 | &nbsp;&nbsp; 3064419 |
| &nbsp;&nbsp;&nbsp; Telia Co. AB | 220274 | &nbsp;&nbsp; 1131187 |
| &nbsp;&nbsp;&nbsp; Trelleborg AB, Class B | 19347 | &nbsp;&nbsp; 848237 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B | 150020 | &nbsp;&nbsp; 5846187 |
|  |  | &nbsp;&nbsp; 71947953 |
| **Switzerland — 9.6%** | **Switzerland — 9.6%** | **Switzerland — 9.6%** |
| &nbsp;&nbsp;&nbsp; ABB, Ltd. | 148504 | &nbsp;&nbsp; 13872091 |
| &nbsp;&nbsp;&nbsp; Alcon AG | 47015 | &nbsp;&nbsp; 4088474 |
| &nbsp;&nbsp;&nbsp; Avolta AG | 8077 | &nbsp;&nbsp; 533144 |
| &nbsp;&nbsp;&nbsp; Banque Cantonale Vaudoise# | 2687 | &nbsp;&nbsp; 412041 |
| &nbsp;&nbsp;&nbsp; Barry Callebaut AG# | 339 | &nbsp;&nbsp; 637127 |
| &nbsp;&nbsp;&nbsp; Belimo Holding AG | 920 | &nbsp;&nbsp; 923769 |
| &nbsp;&nbsp;&nbsp; BKW AG | 2114 | &nbsp;&nbsp; 416284 |
| &nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG# | 10 | &nbsp;&nbsp; 1649216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG (Participation <br> Certificate)<br>| 88 | &nbsp;&nbsp; 1449021 |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA, Class A | 50920 | &nbsp;&nbsp; 10414476 |
| &nbsp;&nbsp;&nbsp; Coca-Cola HBC AG | 20555 | &nbsp;&nbsp; 1332416 |
| &nbsp;&nbsp;&nbsp; DSM-Firmenich AG | 16210 | &nbsp;&nbsp; 1157652 |
| &nbsp;&nbsp;&nbsp; EMS-Chemie Holding AG# | 655 | &nbsp;&nbsp; 544378 |
| &nbsp;&nbsp;&nbsp; Galderma Group AG | 14606 | &nbsp;&nbsp; 2771692 |
| &nbsp;&nbsp;&nbsp; Geberit AG | 3194 | &nbsp;&nbsp; 2691958 |
| &nbsp;&nbsp;&nbsp; Givaudan SA | 876 | &nbsp;&nbsp; 3522913 |
| &nbsp;&nbsp;&nbsp; Helvetia Holding AG | 7560 | &nbsp;&nbsp; 1966574 |
| &nbsp;&nbsp;&nbsp; Holcim AG | 48520 | &nbsp;&nbsp; 4473041 |
| &nbsp;&nbsp;&nbsp; Julius Baer Group, Ltd. | 19532 | &nbsp;&nbsp; 1666514 |
| &nbsp;&nbsp;&nbsp; Kuehne & Nagel International AG# | 4698 | &nbsp;&nbsp; 1095905 |
| &nbsp;&nbsp;&nbsp; Logitech International SA | 14390 | &nbsp;&nbsp; 1325860 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG | 6679 | &nbsp;&nbsp; 4657969 |
| &nbsp;&nbsp;&nbsp; Nestle SA | 244126 | &nbsp;&nbsp; 26665411 |
| &nbsp;&nbsp;&nbsp; Novartis AG | 180137 | &nbsp;&nbsp; 30575377 |
| &nbsp;&nbsp;&nbsp; Partners Group Holding AG# | 2158 | &nbsp;&nbsp; 2406541 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | 66568 | &nbsp;&nbsp; 31775322 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG (BR) | 3026 | &nbsp;&nbsp; 1501094 |
| &nbsp;&nbsp;&nbsp; Sandoz Group AG | 39643 | &nbsp;&nbsp; 3507208 |
| &nbsp;&nbsp;&nbsp; Schindler Holding AG | 2233 | &nbsp;&nbsp; 817571 |
| &nbsp;&nbsp;&nbsp; Schindler Holding AG (Participation Certificate) | 3853 | &nbsp;&nbsp; 1471341 |
| &nbsp;&nbsp;&nbsp; SGS SA | 15759 | &nbsp;&nbsp; 1988194 |
| &nbsp;&nbsp;&nbsp; Sika AG | 14400 | &nbsp;&nbsp; 2987319 |
| &nbsp;&nbsp;&nbsp; Sonova Holding AG | 4764 | &nbsp;&nbsp; 1251026 |
| &nbsp;&nbsp;&nbsp; Straumann Holding AG# | 10525 | &nbsp;&nbsp; 1267627 |
| &nbsp;&nbsp;&nbsp; Swatch Group AG # | 2798 | &nbsp;&nbsp; 716195 |
| &nbsp;&nbsp;&nbsp; Swiss Life Holding AG | 2699 | &nbsp;&nbsp; 3094100 |
| &nbsp;&nbsp;&nbsp; Swiss Prime Site AG# | 7561 | &nbsp;&nbsp; 1442672 |
| &nbsp;&nbsp;&nbsp; Swiss Re AG# | 28413 | &nbsp;&nbsp; 5024059 |
| &nbsp;&nbsp;&nbsp; Swisscom AG | 2459 | &nbsp;&nbsp; 2307561 |
| &nbsp;&nbsp;&nbsp; UBS Group AG | 300785 | &nbsp;&nbsp; 12522765 |
| &nbsp;&nbsp;&nbsp; VAT Group AG\* | 2562 | &nbsp;&nbsp; 1813410 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | 13919 | &nbsp;&nbsp; 10510986 |
|  |  | &nbsp;&nbsp; 205248294 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United Kingdom — 14.3%** | **United Kingdom — 14.3%** | **United Kingdom — 14.3%** |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | 94468 | &nbsp;&nbsp; $4229234 |
| &nbsp;&nbsp;&nbsp; Admiral Group PLC | 24191 | &nbsp;&nbsp; 966294 |
| &nbsp;&nbsp;&nbsp; Airtel Africa PLC\* | 86498 | &nbsp;&nbsp; 406826 |
| &nbsp;&nbsp;&nbsp; Anglo American PLC | 105564 | &nbsp;&nbsp; 5265169 |
| &nbsp;&nbsp;&nbsp; Antofagasta PLC | 37503 | &nbsp;&nbsp; 2157088 |
| &nbsp;&nbsp;&nbsp; Ashtead Group PLC | 39750 | &nbsp;&nbsp; 2853091 |
| &nbsp;&nbsp;&nbsp; Associated British Foods PLC# | 30909 | &nbsp;&nbsp; 823510 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC | 146930 | &nbsp;&nbsp; 30774765 |
| &nbsp;&nbsp;&nbsp; Auto Trader Group PLC\* | 81931 | &nbsp;&nbsp; 544232 |
| &nbsp;&nbsp;&nbsp; Aviva PLC | 290734 | &nbsp;&nbsp; 2687802 |
| &nbsp;&nbsp;&nbsp; BAE Systems PLC | 284340 | &nbsp;&nbsp; 8092994 |
| &nbsp;&nbsp;&nbsp; Barclays PLC | 1321258 | &nbsp;&nbsp; 8063422 |
| &nbsp;&nbsp;&nbsp; Barratt Redrow PLC | 125933 | &nbsp;&nbsp; 619625 |
| &nbsp;&nbsp;&nbsp; BP PLC | 1489780 | &nbsp;&nbsp; 9589794 |
| &nbsp;&nbsp;&nbsp; British American Tobacco PLC | 207133 | &nbsp;&nbsp; 12952233 |
| &nbsp;&nbsp;&nbsp; BT Group PLC | 567070 | &nbsp;&nbsp; 1656812 |
| &nbsp;&nbsp;&nbsp; Bunzl PLC | 31346 | &nbsp;&nbsp; 926822 |
| &nbsp;&nbsp;&nbsp; Centrica PLC | 442377 | &nbsp;&nbsp; 1187272 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC | 19295 | &nbsp;&nbsp; 2130747 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC | 161430 | &nbsp;&nbsp; 4955818 |
| &nbsp;&nbsp;&nbsp; Diageo PLC | 209989 | &nbsp;&nbsp; 4704739 |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC | 18097 | &nbsp;&nbsp; 1290148 |
| &nbsp;&nbsp;&nbsp; Fresnillo PLC | 21024 | &nbsp;&nbsp; 1201320 |
| &nbsp;&nbsp;&nbsp; GSK PLC | 385132 | &nbsp;&nbsp; 11423706 |
| &nbsp;&nbsp;&nbsp; Haleon PLC | 847022 | &nbsp;&nbsp; 4631024 |
| &nbsp;&nbsp;&nbsp; Halma PLC | 36105 | &nbsp;&nbsp; 2035806 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC | 1631094 | &nbsp;&nbsp; 30633350 |
| &nbsp;&nbsp;&nbsp; Imperial Brands PLC | 72518 | &nbsp;&nbsp; 3249487 |
| &nbsp;&nbsp;&nbsp; Informa PLC | 122176 | &nbsp;&nbsp; 1380101 |
| &nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | 13769 | &nbsp;&nbsp; 1893238 |
| &nbsp;&nbsp;&nbsp; Intertek Group PLC | 14793 | &nbsp;&nbsp; 941368 |
| &nbsp;&nbsp;&nbsp; J Sainsbury PLC | 161972 | &nbsp;&nbsp; 761803 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | 235123 | &nbsp;&nbsp; 259765 |
| &nbsp;&nbsp;&nbsp; Kingfisher PLC | 164429 | &nbsp;&nbsp; 821002 |
| &nbsp;&nbsp;&nbsp; Land Securities Group PLC | 67739 | &nbsp;&nbsp; 590180 |
| &nbsp;&nbsp;&nbsp; Legal & General Group PLC | 540829 | &nbsp;&nbsp; 1977366 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC | 5599846 | &nbsp;&nbsp; 7731529 |
| &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | 43472 | &nbsp;&nbsp; 5190638 |
| &nbsp;&nbsp;&nbsp; M&G PLC | 219229 | &nbsp;&nbsp; 938626 |
| &nbsp;&nbsp;&nbsp; Marks & Spencer Group PLC | 191720 | &nbsp;&nbsp; 1024443 |
| &nbsp;&nbsp;&nbsp; Melrose Industries PLC | 120146 | &nbsp;&nbsp; 916114 |
| &nbsp;&nbsp;&nbsp; National Grid PLC | 469530 | &nbsp;&nbsp; 8801726 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC | 759123 | &nbsp;&nbsp; 6332572 |
| &nbsp;&nbsp;&nbsp; Next PLC | 11062 | &nbsp;&nbsp; 2015523 |
| &nbsp;&nbsp;&nbsp; Pearson PLC | 55115 | &nbsp;&nbsp; 712899 |
| &nbsp;&nbsp;&nbsp; Prudential PLC | 243698 | &nbsp;&nbsp; 3735775 |
| &nbsp;&nbsp;&nbsp; Reckitt Benckiser Group PLC | 61638 | &nbsp;&nbsp; 5409290 |
| &nbsp;&nbsp;&nbsp; RELX PLC† | 172219 | &nbsp;&nbsp; 5997233 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | 238736 | &nbsp;&nbsp; 1467745 |
| &nbsp;&nbsp;&nbsp; Rio Tinto PLC | 106909 | &nbsp;&nbsp; 10567974 |
| &nbsp;&nbsp;&nbsp; Rolls-Royce Holdings PLC | 797455 | &nbsp;&nbsp; 14331003 |
| &nbsp;&nbsp;&nbsp; Sage Group PLC | 89898 | &nbsp;&nbsp; 995620 |
| &nbsp;&nbsp;&nbsp; Schroders PLC | 66862 | &nbsp;&nbsp; 528025 |
| &nbsp;&nbsp;&nbsp; Segro PLC | 121192 | &nbsp;&nbsp; 1373886 |
| &nbsp;&nbsp;&nbsp; Severn Trent PLC | 25329 | &nbsp;&nbsp; 1119616 |
| &nbsp;&nbsp;&nbsp; Shell PLC | 540563 | &nbsp;&nbsp; 22390145 |
| &nbsp;&nbsp;&nbsp; Smith & Nephew PLC | 76089 | &nbsp;&nbsp; 1406355 |
| &nbsp;&nbsp;&nbsp; Smiths Group PLC | 31541 | &nbsp;&nbsp; 1167222 |
| &nbsp;&nbsp;&nbsp; Spirax Group PLC | 7160 | &nbsp;&nbsp; 762768 |
| &nbsp;&nbsp;&nbsp; SSE PLC | 114681 | &nbsp;&nbsp; 4155848 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC | 183334 | &nbsp;&nbsp; 4526326 |
| &nbsp;&nbsp;&nbsp; Standard Life PLC | 68067 | &nbsp;&nbsp; 703573 |
| &nbsp;&nbsp;&nbsp; Tesco PLC | 605732 | &nbsp;&nbsp; 3923211 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp;&nbsp; Unilever PLC | 206504 | &nbsp;&nbsp; $15214403 |
| &nbsp;&nbsp;&nbsp; United Utilities Group PLC | 63995 | &nbsp;&nbsp; 1201364 |
| &nbsp;&nbsp;&nbsp; Verisure PLC† | 24517 | &nbsp;&nbsp; 273615 |
| &nbsp;&nbsp;&nbsp; Vodafone Group PLC | 1778600 | &nbsp;&nbsp; 2744487 |
| &nbsp;&nbsp;&nbsp; Whitbread PLC | 16754 | &nbsp;&nbsp; 587042 |
| &nbsp;&nbsp;&nbsp; Wise PLC, Class A† | 63174 | &nbsp;&nbsp; 732600 |
|  |  | &nbsp;&nbsp; 307657149 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $1,428,825,633)<br>|  | &nbsp;&nbsp; 2128397031 |
| **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** | **PREFERRED STOCKS — 0.0%** |
| **Italy — 0.0%** | **Italy — 0.0%** | **Italy — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Telecom Italia SpA (RSP)† <br>(cost $502,209)<br>| 571706 | &nbsp;&nbsp; 501107 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $1,429,327,842)<br>|  | &nbsp;&nbsp; 2128898138 |
| **SHORT-TERM INVESTMENTS — 2.0%** | **SHORT-TERM INVESTMENTS — 2.0%** | **SHORT-TERM INVESTMENTS — 2.0%** |
| **Unaffiliated Investment Companies — 2.0%** | **Unaffiliated Investment Companies — 2.0%** | **Unaffiliated Investment Companies — 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class 3.63%(1)<br>| 6036797 | &nbsp;&nbsp; 6036797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio 3.69%(1)(2)<br>| 36560929 | &nbsp;&nbsp; 36560929 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $42,597,726)<br>|  | &nbsp;&nbsp; 42597726 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $1,471,925,568)<br>| 101.1<br> %<br>| &nbsp;&nbsp; 2171495864 |
| Other assets less liabilities | (1.1)<br>| &nbsp;&nbsp; (24109776)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $2147386088 |

---

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

# The security or a portion thereof is out on loan. <br> † Non-income producing security

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The International Equities Index Fund has no right to demand registration of these securities. At February 28, 2026, the aggregate value of these securities was $22,910,956 representing 1.1% of net assets. 

(1) The rate shown is the 7-day yield as of February 28, 2026.

(2) At February 28, 2026, the Fund had loaned securities with a total value of $75,716,243. This was secured by collateral of $36,560,929, which was received in cash and subsequently invested in short-term investments currently valued at $36,560,929 as reported in the Portfolio of Investments. Additional collateral of $42,989,152 was received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components of the fixed income pooled securities referenced above are as follows: 

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 2.30% to 5.50% | 11/16/2050 to 12/16/2057 | $52144 |
| United States Treasury Bills | 0.00% | 06/04/2026 to 07/02/2026 | 192964 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.50% | 03/31/2026 to 05/15/2055 | 42744044 |

---

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

---

| |
|:---|
| ADR—American Depositary Receipt |
| ASX—Australian Stock Exchange  |
| BR—Bearer Shares |
| CVA—Certification Van Aandelen (Dutch Cert.) |
| RSP—Risparmio Shares-Savings Shares on the Italian Stock Exchange |

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | **Pay/** <br>**Receive**<br>| &nbsp;&nbsp; **Underlying** <br>**Reference**<br>| **Number of** <br>**Contracts**<br>| **Financing** <br>**Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Notional** <br>**Amount**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value** |
| **Spain** |  |  |  |  |  |  |  |  |  |
| Goldman Sachs & Co. LLC | Pay | Redeia Corp. SA | &nbsp;&nbsp; 30394 | 2.20% (ESTR + 0.26%) | Monthly | &nbsp;&nbsp; 08/19/2026 | &nbsp;&nbsp; $576465 | &nbsp;&nbsp; $(9697)<br>| &nbsp;&nbsp; $(9697)<br>|
| BNP Paribas | Pay | Redeia Corp. SA | &nbsp;&nbsp; 7242 | 2.20% (ESTR + 0.26%) | Monthly | &nbsp;&nbsp; 06/17/2027 | &nbsp;&nbsp; 137355 | &nbsp;&nbsp; (2310)<br>| &nbsp;&nbsp; (2310)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (12007)<br>| &nbsp;&nbsp; (12007)<br>|
| **Hong Kong** |  |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | Pay | &nbsp;&nbsp; Hong Kong Exchanges & <br> Clearing, Ltd.<br>| &nbsp;&nbsp; 100 | 2.65% (HONIA + 0.30%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 5231 | &nbsp;&nbsp; 130 | &nbsp;&nbsp; 130 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; $(11877)<br>| &nbsp;&nbsp; $(11877)<br>|
| ESTR—Euro Short-Term Rate |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; HONIA—Hong Kong Overnight <br> Index Average<br>|  |  |  |  |  |  |  |  |  |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 88 | Long | Euro STOXX 50 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $6366032 | &nbsp;&nbsp;&nbsp;&nbsp; $6397939 | &nbsp;&nbsp;&nbsp;&nbsp; $31907 |
| 27 | Long | FTSE 100 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3886256 | &nbsp;&nbsp;&nbsp;&nbsp; 3968320 | &nbsp;&nbsp;&nbsp;&nbsp; 82064 |
| 14 | Long | SGX Nikkei 225 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2562924 | &nbsp;&nbsp;&nbsp;&nbsp; 2648225 | &nbsp;&nbsp;&nbsp;&nbsp; 85301 |
| 15 | Long | SPI 200 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2391978 | &nbsp;&nbsp;&nbsp;&nbsp; 2447186 | &nbsp;&nbsp;&nbsp;&nbsp; 55208 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $254480 |

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | 16.5<br> %<br>|
| Pharmaceuticals | 8.0 |
| Insurance | 5.5 |
| Semiconductors | 5.2 |
| Aerospace/Defense | 3.5 |
| Oil & Gas | 3.3 |
| Electric | 3.3 |
| Mining | 3.3 |
| Telecommunications | 3.2 |
| Food | 3.0 |
| Machinery-Construction & Mining | 2.6 |
| Auto Manufacturers | 2.5 |
| Retail | 2.2 |
| Electrical Components & Equipment | 2.0 |
| Short-Term Investments | 2.0 |
| Distribution/Wholesale | 1.9 |
| Chemicals | 1.9 |
| Machinery-Diversified | 1.8 |
| Commercial Services | 1.7 |
| Cosmetics/Personal Care | 1.7 |
| Diversified Financial Services | 1.7 |
| Engineering & Construction | 1.7 |
| Healthcare-Products | 1.6 |
| Software | 1.4 |
| Apparel | 1.4 |
| Miscellaneous Manufacturing | 1.4 |
| Beverages | 1.4 |
| Building Materials | 1.3 |
| Electronics | 1.2 |
| Transportation | 1.1 |
| Agriculture | 1.0 |
| Real Estate | 0.9 |
| Internet | 0.9 |
| Home Furnishings | 0.8 |
| Auto Parts & Equipment | 0.7 |
| REITS | 0.7 |
| Computers | 0.7 |
| Biotechnology | 0.5 |
| Household Products/Wares | 0.5 |
| Gas | 0.5 |
| Healthcare-Services | 0.4 |
| Private Equity | 0.4 |
| Toys/Games/Hobbies | 0.4 |
| Hand/Machine Tools | 0.4 |
| Investment Companies | 0.3 |
| Entertainment | 0.3 |
| Iron/Steel | 0.3 |
| Water | 0.3 |
| Metal Fabricate/Hardware | 0.3 |
| Food Service | 0.2 |
| Lodging | 0.2 |
| Home Builders | 0.2 |
| Airlines | 0.1 |

---

------

**VALIC Company I International Equities Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Leisure Time | 0.1<br> %<br>|
| Shipbuilding | 0.1 |
| Office/Business Equipment | 0.1 |
| Energy-Alternate Sources | 0.1 |
| Media | 0.1 |
| Advertising | 0.1 |
| Forest Products & Paper | 0.1 |
| Holding Companies-Diversified | 0.1 |
|  | 101.1<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $2128397031 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2128397031 |
| Preferred Stocks | &nbsp;&nbsp; 501107 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 501107 |
| Short-Term Investments | &nbsp;&nbsp; 42597726 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 42597726 |
| **Total Investments at Value** | &nbsp;&nbsp; $2171495864 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2171495864 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $130 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $130 |
| Futures Contracts | &nbsp;&nbsp; 254480 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 254480 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $254480 | &nbsp;&nbsp; $130 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $254610 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12007 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $12007 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I International Government Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **CORPORATE BONDS & NOTES — 5.7%** | **CORPORATE BONDS & NOTES — 5.7%** | **CORPORATE BONDS & NOTES — 5.7%** |
| **Bahrain — 0.7%** | **Bahrain — 0.7%** | **Bahrain — 0.7%** |
| &nbsp;&nbsp;&nbsp; Gulf International Bank BSC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/05/2029 | $400000 | &nbsp;&nbsp; $415820 |
| **Cayman Islands — 1.4%** | **Cayman Islands — 1.4%** | **Cayman Islands — 1.4%** |
| &nbsp;&nbsp;&nbsp; GACI First Investment Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 02/14/2035 | 300000 | &nbsp;&nbsp; 300121 |
| &nbsp;&nbsp;&nbsp; Sobha Sukuk, Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 07/17/2028 | 500000 | &nbsp;&nbsp; 525921 |
|  |  | &nbsp;&nbsp; 826042 |
| **Colombia — 0.5%** | **Colombia — 0.5%** | **Colombia — 0.5%** |
| &nbsp;&nbsp;&nbsp; Ecopetrol SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 11/02/2031 | 300000 | &nbsp;&nbsp; 268699 |
| **Luxembourg — 0.8%** | **Luxembourg — 0.8%** | **Luxembourg — 0.8%** |
| &nbsp;&nbsp;&nbsp; PRIO Luxembourg Holding SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 10/15/2030\* | 285000 | &nbsp;&nbsp; 280870 |
| &nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 07/08/2032\* | 400000 | &nbsp;&nbsp; 188252 |
|  |  | &nbsp;&nbsp; 469122 |
| **Mexico — 1.2%** | **Mexico — 1.2%** | **Mexico — 1.2%** |
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 02/16/2032 | 470000 | &nbsp;&nbsp; 471018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/21/2047 | 250000 | &nbsp;&nbsp; 207927 |
|  |  | &nbsp;&nbsp; 678945 |
| **Morocco — 0.5%** | **Morocco — 0.5%** | **Morocco — 0.5%** |
| &nbsp;&nbsp;&nbsp; OCP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.70%, 03/01/2036\* | 280000 | &nbsp;&nbsp; 301910 |
| **Turkey — 0.6%** | **Turkey — 0.6%** | **Turkey — 0.6%** |
| &nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.45%, 01/24/2030\* | 300000 | &nbsp;&nbsp; 315284 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(cost $3,390,588)<br>|  | &nbsp;&nbsp; 3275822 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 29.3%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 29.3%** | **U.S. GOVERNMENT & AGENCY OBLIGATIONS — 29.3%** |
| **United States — 29.3%** | **United States — 29.3%** | **United States — 29.3%** |
| &nbsp;&nbsp;&nbsp; United States Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 05/15/2043 to 05/15/2049 | 970000 | &nbsp;&nbsp; 756726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.00%, 02/15/2047 | 500000 | &nbsp;&nbsp; 390332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.75%, 11/15/2043 | 470000 | &nbsp;&nbsp; 424818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.25%, 02/15/2054 | 400000 | &nbsp;&nbsp; 374703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.38%, 05/15/2041 | 400000 | &nbsp;&nbsp; 400328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 11/15/2055 | 200000 | &nbsp;&nbsp; 199656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/15/2041 to 05/15/2055 | 1150000 | &nbsp;&nbsp; 1180633 |
| &nbsp;&nbsp;&nbsp; United States Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 06/30/2027 to 08/31/2027 | 1000000 | &nbsp;&nbsp; 959707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>0.88%, 11/15/2030 | 1000000 | &nbsp;&nbsp; 886601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.13%, 08/31/2028# | 1020000 | &nbsp;&nbsp; 965255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 09/30/2028 to 08/15/2031 | 950000 | &nbsp;&nbsp; 868952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 12/31/2028 | 800000 | &nbsp;&nbsp; 756875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.38%, 11/15/2031# | 400000 | &nbsp;&nbsp; 354125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.63%, 05/15/2031# | 700000 | &nbsp;&nbsp; 636180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.38%, 05/15/2027 | 1120000 | &nbsp;&nbsp; 1105256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.88%, 05/15/2028 | 500000 | &nbsp;&nbsp; 494590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.88%, 05/15/2032# | 600000 | &nbsp;&nbsp; 573891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.38%, 05/15/2033# | 300000 | &nbsp;&nbsp; 293027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.63%, 08/31/2029# | 900000 | &nbsp;&nbsp; 905625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.75%, 06/30/2030 | 400000 | &nbsp;&nbsp; 404172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.88%, 03/31/2027 | 1000000 | &nbsp;&nbsp; 1003828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.00%, 02/15/2034# | 600000 | &nbsp;&nbsp; 607898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/31/2029 to 11/30/2030 | 1800000 | &nbsp;&nbsp; 1862523 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.38%, 05/15/2034# |  | $300000 | &nbsp;&nbsp; $311473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.63%, 02/15/2035# |  | 200000 | &nbsp;&nbsp; 210984 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government & Agency Obligations** <br>(cost $17,381,610)<br>|  |  | &nbsp;&nbsp; 16928158 |
| **FOREIGN GOVERNMENT OBLIGATIONS — 61.8%** | **FOREIGN GOVERNMENT OBLIGATIONS — 61.8%** | **FOREIGN GOVERNMENT OBLIGATIONS — 61.8%** | **FOREIGN GOVERNMENT OBLIGATIONS — 61.8%** |
| **Angola — 1.4%** | **Angola — 1.4%** | **Angola — 1.4%** | **Angola — 1.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Angola |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 11/26/2029 |  | 400000 | &nbsp;&nbsp; 398622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88%, 10/15/2035\* |  | 400000 | &nbsp;&nbsp; 407767 |
|  |  |  | &nbsp;&nbsp; 806389 |
| **Argentina — 1.0%** | **Argentina — 1.0%** | **Argentina — 1.0%** | **Argentina — 1.0%** |
| &nbsp;&nbsp;&nbsp; Republic of Argentina |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 07/09/2030(1) |  | 216000 | &nbsp;&nbsp; 183060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 07/09/2041(1) |  | 230000 | &nbsp;&nbsp; 161000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 07/09/2035(1) |  | 320000 | &nbsp;&nbsp; 241216 |
|  |  |  | &nbsp;&nbsp; 585276 |
| **Australia — 2.3%** | **Australia — 2.3%** | **Australia — 2.3%** | **Australia — 2.3%** |
| &nbsp;&nbsp;&nbsp; Commonwealth of Australia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 05/21/2032 | AUD | 600000 | &nbsp;&nbsp; 354615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 03/21/2047 | AUD | 559000 | &nbsp;&nbsp; 290761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/21/2034 | AUD | 600000 | &nbsp;&nbsp; 403549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 04/21/2037 | AUD | 400000 | &nbsp;&nbsp; 261110 |
|  |  |  | &nbsp;&nbsp; 1310035 |
| **Azerbaijan — 0.5%** | **Azerbaijan — 0.5%** | **Azerbaijan — 0.5%** | **Azerbaijan — 0.5%** |
| &nbsp;&nbsp;&nbsp; Republic of Azerbaijan |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 09/01/2032 |  | 300000 | &nbsp;&nbsp; 282365 |
| **Bahamas — 0.8%** | **Bahamas — 0.8%** | **Bahamas — 0.8%** | **Bahamas — 0.8%** |
| &nbsp;&nbsp;&nbsp; Commonwealth of Bahamas |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 06/24/2036 |  | 400000 | &nbsp;&nbsp; 448212 |
| **Benin — 0.4%** | **Benin — 0.4%** | **Benin — 0.4%** | **Benin — 0.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Benin |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 02/13/2038 |  | 100000 | &nbsp;&nbsp; 105199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 02/13/2038 |  | 100000 | &nbsp;&nbsp; 105198 |
|  |  |  | &nbsp;&nbsp; 210397 |
| **Brazil — 1.0%** | **Brazil — 1.0%** | **Brazil — 1.0%** | **Brazil — 1.0%** |
| &nbsp;&nbsp;&nbsp; Federative Republic of Brazil |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/27/2045 |  | 200000 | &nbsp;&nbsp; 163876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 05/22/2036 |  | 400000 | &nbsp;&nbsp; 403080 |
|  |  |  | &nbsp;&nbsp; 566956 |
| **Canada — 1.3%** | **Canada — 1.3%** | **Canada — 1.3%** | **Canada — 1.3%** |
| &nbsp;&nbsp;&nbsp; Canadian Government Bond |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 09/01/2030 | CAD | 1000000 | &nbsp;&nbsp; 735566 |
| **Cayman Islands — 0.6%** | **Cayman Islands — 0.6%** | **Cayman Islands — 0.6%** | **Cayman Islands — 0.6%** |
| &nbsp;&nbsp;&nbsp; RAK Capital |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/12/2035 |  | 325000 | &nbsp;&nbsp; 337330 |
| **Chile — 0.9%** | **Chile — 0.9%** | **Chile — 0.9%** | **Chile — 0.9%** |
| &nbsp;&nbsp;&nbsp; Republic of Chile |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 04/15/2053 |  | 400000 | &nbsp;&nbsp; 294560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/05/2036 |  | 200000 | &nbsp;&nbsp; 204320 |
|  |  |  | &nbsp;&nbsp; 498880 |
| **Colombia — 2.3%** | **Colombia — 2.3%** | **Colombia — 2.3%** | **Colombia — 2.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 04/15/2031 |  | 200000 | &nbsp;&nbsp; 173780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 02/19/2036 | EUR | 500000 | &nbsp;&nbsp; 560869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 02/02/2034 |  | 400000 | &nbsp;&nbsp; 415080 |

---

------

**VALIC Company I International Government Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |
| **Colombia (continued)** | **Colombia (continued)** | **Colombia (continued)** | **Colombia (continued)** |
| &nbsp;&nbsp;&nbsp; Republic of Colombia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 01/21/2031 |  | $200000 | &nbsp;&nbsp; $199530 |
|  |  |  | &nbsp;&nbsp; 1349259 |
| **Ecuador — 0.7%** | **Ecuador — 0.7%** | **Ecuador — 0.7%** | **Ecuador — 0.7%** |
| &nbsp;&nbsp;&nbsp; Republic of Ecuador |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 01/29/2034\* |  | 200000 | &nbsp;&nbsp; 201300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.25%, 01/29/2039\* |  | 200000 | &nbsp;&nbsp; 202500 |
|  |  |  | &nbsp;&nbsp; 403800 |
| **Finland — 0.5%** | **Finland — 0.5%** | **Finland — 0.5%** | **Finland — 0.5%** |
| &nbsp;&nbsp;&nbsp; Republic of Finland |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 04/15/2052\* | EUR | 600000 | &nbsp;&nbsp; 292278 |
| **France — 4.7%** | **France — 4.7%** | **France — 4.7%** | **France — 4.7%** |
| &nbsp;&nbsp;&nbsp; Government of France |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75%, 05/25/2028\* | EUR | 400000 | &nbsp;&nbsp; 458405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.25%, 05/25/2034\* | EUR | 700000 | &nbsp;&nbsp; 720572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.75%, 05/25/2066\* | EUR | 235000 | &nbsp;&nbsp; 147265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.00%, 11/25/2032\* | EUR | 800000 | &nbsp;&nbsp; 899058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 02/25/2029\* | EUR | 250000 | &nbsp;&nbsp; 299604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 05/25/2054\* | EUR | 200000 | &nbsp;&nbsp; 191207 |
|  |  |  | &nbsp;&nbsp; 2716111 |
| **Germany — 4.6%** | **Germany — 4.6%** | **Germany — 4.6%** | **Germany — 4.6%** |
| &nbsp;&nbsp;&nbsp; Federal Republic of Germany |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.30%, 02/15/2033 | EUR | 400000 | &nbsp;&nbsp; 469246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 11/15/2030 | EUR | 500000 | &nbsp;&nbsp; 595725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 08/15/2054 | EUR | 200000 | &nbsp;&nbsp; 201194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 08/15/2056 | EUR | 300000 | &nbsp;&nbsp; 326051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 01/04/2037 | EUR | 200000 | &nbsp;&nbsp; 264357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 01/04/2031 | EUR | 400000 | &nbsp;&nbsp; 543016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/04/2027 | EUR | 200000 | &nbsp;&nbsp; 250313 |
|  |  |  | &nbsp;&nbsp; 2649902 |
| **Guatemala — 0.9%** | **Guatemala — 0.9%** | **Guatemala — 0.9%** | **Guatemala — 0.9%** |
| &nbsp;&nbsp;&nbsp; Republic of Guatemala |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 04/24/2032 |  | 300000 | &nbsp;&nbsp; 305487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 06/13/2036 |  | 200000 | &nbsp;&nbsp; 217042 |
|  |  |  | &nbsp;&nbsp; 522529 |
| **Hungary — 0.8%** | **Hungary — 0.8%** | **Hungary — 0.8%** | **Hungary — 0.8%** |
| &nbsp;&nbsp;&nbsp; Republic of Hungary |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 09/25/2052 |  | 450000 | &nbsp;&nbsp; 491003 |
| **Italy — 4.8%** | **Italy — 4.8%** | **Italy — 4.8%** | **Italy — 4.8%** |
| &nbsp;&nbsp;&nbsp; Republic of Italy |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.60%, 08/01/2031\* | EUR | 500000 | &nbsp;&nbsp; 530651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, 12/01/2032 | EUR | 600000 | &nbsp;&nbsp; 694936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 03/01/2047\* | EUR | 470000 | &nbsp;&nbsp; 457366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 08/01/2029 | EUR | 300000 | &nbsp;&nbsp; 362458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.20%, 03/01/2034 | EUR | 200000 | &nbsp;&nbsp; 256050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/01/2028\* | EUR | 140000 | &nbsp;&nbsp; 175618 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/01/2031 | EUR | 200000 | &nbsp;&nbsp; 275241 |
|  |  |  | &nbsp;&nbsp; 2752320 |
| **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** | **Ivory Coast — 0.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Ivory Coast |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 01/30/2037 |  | 200000 | &nbsp;&nbsp; 218406 |
| **Japan — 6.3%** | **Japan — 6.3%** | **Japan — 6.3%** | **Japan — 6.3%** |
| &nbsp;&nbsp;&nbsp; Government of Japan |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.20%, 06/20/2028 | JPY | 50000000 | &nbsp;&nbsp; 312576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.40%, 03/20/2056 | JPY | 150000000 | &nbsp;&nbsp; 432735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.60%, 09/20/2029 | JPY | 80000000 | &nbsp;&nbsp; 497674 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%, 09/20/2029 | JPY | 125000000 | &nbsp;&nbsp; $780369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.70%, 03/20/2061 | JPY | 135000000 | &nbsp;&nbsp; 402091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.20%, 12/20/2034 | JPY | 50000000 | &nbsp;&nbsp; 299545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.60%, 03/20/2032 | JPY | 40000000 | &nbsp;&nbsp; 254728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.70%, 09/20/2032 | JPY | 60000000 | &nbsp;&nbsp; 383145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.40%, 03/20/2045 | JPY | 50000000 | &nbsp;&nbsp; 295863 |
|  |  |  | &nbsp;&nbsp; 3658726 |
| **Kazakhstan — 0.7%** | **Kazakhstan — 0.7%** | **Kazakhstan — 0.7%** | **Kazakhstan — 0.7%** |
| &nbsp;&nbsp;&nbsp; Republic of Kazakhstan |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.41%, 10/28/2030\* |  | $200000 | &nbsp;&nbsp; 199804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 07/21/2045 |  | 200000 | &nbsp;&nbsp; 221277 |
|  |  |  | &nbsp;&nbsp; 421081 |
| **Kenya — 0.9%** | **Kenya — 0.9%** | **Kenya — 0.9%** | **Kenya — 0.9%** |
| &nbsp;&nbsp;&nbsp; Republic of Kenya |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.80%, 10/09/2038\* |  | 200000 | &nbsp;&nbsp; 197934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.50%, 03/05/2036 |  | 300000 | &nbsp;&nbsp; 315945 |
|  |  |  | &nbsp;&nbsp; 513879 |
| **Kyrgyzstan — 0.9%** | **Kyrgyzstan — 0.9%** | **Kyrgyzstan — 0.9%** | **Kyrgyzstan — 0.9%** |
| &nbsp;&nbsp;&nbsp; Kyrgyzstan Republic |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 06/03/2030\* |  | 300000 | &nbsp;&nbsp; 313130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 06/03/2030 |  | 200000 | &nbsp;&nbsp; 208753 |
|  |  |  | &nbsp;&nbsp; 521883 |
| **Mexico — 2.7%** | **Mexico — 2.7%** | **Mexico — 2.7%** | **Mexico — 2.7%** |
| &nbsp;&nbsp;&nbsp; United Mexican States |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.66%, 05/24/2031 |  | 700000 | &nbsp;&nbsp; 627585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 05/07/2036 |  | 400000 | &nbsp;&nbsp; 409500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.50%, 11/18/2038 | MXN | 6000000 | &nbsp;&nbsp; 336107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 11/20/2036 | MXN | 3000000 | &nbsp;&nbsp; 190414 |
|  |  |  | &nbsp;&nbsp; 1563606 |
| **Nigeria — 0.9%** | **Nigeria — 0.9%** | **Nigeria — 0.9%** | **Nigeria — 0.9%** |
| &nbsp;&nbsp;&nbsp; Republic of Nigeria |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.13%, 01/13/2046\* |  | 500000 | &nbsp;&nbsp; 543540 |
| **Panama — 0.6%** | **Panama — 0.6%** | **Panama — 0.6%** | **Panama — 0.6%** |
| &nbsp;&nbsp;&nbsp; Republic of Panama |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.87%, 07/23/2060 |  | 500000 | &nbsp;&nbsp; 346775 |
| **Peru — 1.4%** | **Peru — 1.4%** | **Peru — 1.4%** | **Peru — 1.4%** |
| &nbsp;&nbsp;&nbsp; Republic of Peru |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.84%, 06/20/2030 |  | 400000 | &nbsp;&nbsp; 378360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/30/2036 |  | 400000 | &nbsp;&nbsp; 412920 |
|  |  |  | &nbsp;&nbsp; 791280 |
| **Poland — 0.7%** | **Poland — 0.7%** | **Poland — 0.7%** | **Poland — 0.7%** |
| &nbsp;&nbsp;&nbsp; Republic of Poland |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/25/2035 | PLN | 1500000 | &nbsp;&nbsp; 421967 |
| **Romania — 2.1%** | **Romania — 2.1%** | **Romania — 2.1%** | **Romania — 2.1%** |
| &nbsp;&nbsp;&nbsp; Government of Romania |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 09/16/2030\* |  | 200000 | &nbsp;&nbsp; 207870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/24/2044\* | EUR | 300000 | &nbsp;&nbsp; 353975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 05/16/2036 |  | 300000 | &nbsp;&nbsp; 319481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/17/2053 |  | 300000 | &nbsp;&nbsp; 345608 |
|  |  |  | &nbsp;&nbsp; 1226934 |
| **Saudi Arabia — 1.9%** | **Saudi Arabia — 1.9%** | **Saudi Arabia — 1.9%** | **Saudi Arabia — 1.9%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Saudi Arabia |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/22/2030 |  | 400000 | &nbsp;&nbsp; 383943 |

---

------

**VALIC Company I International Government Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | |
|:---|:---|:---|:---|
| **Security Description** |  | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** | **FOREIGN GOVERNMENT OBLIGATIONS (continued)** |
| **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** | **Saudi Arabia (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 02/02/2061# |  | $300000 | &nbsp;&nbsp; $195929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 01/13/2031 |  | 500000 | &nbsp;&nbsp; 522517 |
|  |  |  | &nbsp;&nbsp; 1102389 |
| **South Africa — 1.1%** | **South Africa — 1.1%** | **South Africa — 1.1%** | **South Africa — 1.1%** |
| &nbsp;&nbsp;&nbsp; Republic of South Africa |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 12/11/2055\* |  | 400000 | &nbsp;&nbsp; 400194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 11/19/2054 |  | 200000 | &nbsp;&nbsp; 216356 |
|  |  |  | &nbsp;&nbsp; 616550 |
| **Spain — 3.9%** | **Spain — 3.9%** | **Spain — 3.9%** | **Spain — 3.9%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Spain |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 10/31/2031\* | EUR | 400000 | &nbsp;&nbsp; 422850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.00%, 10/31/2050\* | EUR | 470000 | &nbsp;&nbsp; 309908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.95%, 07/30/2030\* | EUR | 400000 | &nbsp;&nbsp; 464890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 10/31/2034\* | EUR | 400000 | &nbsp;&nbsp; 491861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 07/30/2032 | EUR | 400000 | &nbsp;&nbsp; 559783 |
|  |  |  | &nbsp;&nbsp; 2249292 |
| **Sri Lanka — 0.3%** | **Sri Lanka — 0.3%** | **Sri Lanka — 0.3%** | **Sri Lanka — 0.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Sri Lanka |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 06/15/2035(1) |  | 200000 | &nbsp;&nbsp; 163156 |
| **Sweden — 0.7%** | **Sweden — 0.7%** | **Sweden — 0.7%** | **Sweden — 0.7%** |
| &nbsp;&nbsp;&nbsp; Kingdom of Sweden |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.25%, 05/11/2035 | SEK | 4000000 | &nbsp;&nbsp; 433042 |
| **Trinidad and Tobago — 0.3%** | **Trinidad and Tobago — 0.3%** | **Trinidad and Tobago — 0.3%** | **Trinidad and Tobago — 0.3%** |
| &nbsp;&nbsp;&nbsp; Republic of Trinidad & Tobago |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 06/26/2034 |  | 200000 | &nbsp;&nbsp; 202864 |
| **Turkey — 1.1%** | **Turkey — 1.1%** | **Turkey — 1.1%** | **Turkey — 1.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Turkiye |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 09/16/2035 |  | 200000 | &nbsp;&nbsp; 202895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 05/29/2032 |  | 400000 | &nbsp;&nbsp; 420152 |
|  |  |  | &nbsp;&nbsp; 623047 |
| **United Arab Emirates — 0.4%** | **United Arab Emirates — 0.4%** | **United Arab Emirates — 0.4%** | **United Arab Emirates — 0.4%** |
| &nbsp;&nbsp;&nbsp; Emirate of Abu Dhabi |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, 04/16/2050 |  | 300000 | &nbsp;&nbsp; 241890 |
| **United Kingdom — 4.6%** | **United Kingdom — 4.6%** | **United Kingdom — 4.6%** | **United Kingdom — 4.6%** |
| &nbsp;&nbsp;&nbsp; United Kingdom Gilt Treasury |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.25%, 07/31/2031 | GBP | 120000 | &nbsp;&nbsp; 134455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50%, 10/22/2061 | GBP | 1400000 | &nbsp;&nbsp; 502431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.88%, 01/31/2046 | GBP | 468000 | &nbsp;&nbsp; 307573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.13%, 01/31/2039 | GBP | 400000 | &nbsp;&nbsp; 359938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 01/31/2033 | GBP | 300000 | &nbsp;&nbsp; 386163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 10/22/2031 | GBP | 350000 | &nbsp;&nbsp; 475248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 07/31/2054 | GBP | 400000 | &nbsp;&nbsp; 484965 |
|  |  |  | &nbsp;&nbsp; 2650773 |
| **Uruguay — 0.2%** | **Uruguay — 0.2%** | **Uruguay — 0.2%** | **Uruguay — 0.2%** |
| &nbsp;&nbsp;&nbsp; Oriental Republic of Uruguay |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/18/2050 |  | 100000 | &nbsp;&nbsp; 95890 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Zambia — 0.2%** | **Zambia — 0.2%** | **Zambia — 0.2%** |
| &nbsp;&nbsp;&nbsp; Repubic of Zambia |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/30/2033(1) | $141412 | &nbsp;&nbsp; $137598 |
| &nbsp;&nbsp;&nbsp; **Total Foreign Government Obligations** <br>(cost $35,952,726)<br>|  | &nbsp;&nbsp; 35703176 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $56,724,924)<br>|  | &nbsp;&nbsp; 55907156 |
| **SHORT-TERM INVESTMENTS — 0.4%** | **SHORT-TERM INVESTMENTS — 0.4%** | **SHORT-TERM INVESTMENTS — 0.4%** |
| **Unaffiliated Investment Companies — 0.4%** | **Unaffiliated Investment Companies — 0.4%** | **Unaffiliated Investment Companies — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending <br> Government Money Market Portfolio <br>3.69%(2)(3) <br>(cost $199,710)<br>| 199710 | &nbsp;&nbsp; 199710 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $56,924,634)<br>| 97.2<br> %<br>| &nbsp;&nbsp; 56106866 |
| Other assets less liabilities | 2.8 | &nbsp;&nbsp; 1623860 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $57730726 |

---

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

\* Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. The International Government Bond Fund has no right to demand registration of these securities. At February 28, 2026, the aggregate value of these securities was $9,975,863 representing 17.3% of net assets. 

# The security or a portion thereof is out on loan.

(1) "Step-up" security where the rate increases ("steps-up") at a predetermined rate. The rate reflected is as of February 28, 2026. 

(2) The rate shown is the 7-day yield as of February 28, 2026.

(3) At February 28, 2026, the Fund had loaned securities with a total value of $4,531,452. This was secured by collateral of $199,710, which was received in cash and subsequently invested in short-term investments currently valued at $199,710 as reported in the Portfolio of Investments. Additional collateral of $4,519,236 was received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components of the fixed income pooled securities referenced above are as follows: 

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mtg. <br> Corp.<br>| 0.87% to 9.50% | 04/15/2027 to 03/01/2056 | $1832422 |
| &nbsp;&nbsp;&nbsp; Federal National Mtg. <br> Assoc.<br>| 0.86% to 16.67% | 01/25/2027 to 01/01/2056 | 884363 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 0.75% to 8.54% | 12/16/2035 to 02/16/2068 | 1802451 |

---

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

---

| |
|:---|
| AUD—Australian Dollar |
| CAD—Canadian Dollar |
| EUR—Euro Currency |
| GBP—British Pound |
| JPY—Japanese Yen |
| MXN—Mexican Peso |
| PLN—Polish Zloty |
| SEK—Swedish Krona |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Foreign Government Obligations | 61.8<br> %<br>|
| U.S. Government & Agency Obligations | 29.3 |
| Oil & Gas | 2.5 |
| Real Estate | 0.9 |
| Banks | 0.7 |
| Telecommunications | 0.6 |
| Chemicals | 0.5 |

---

------

**VALIC Company I International Government Bond Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Investment Companies | 0.5<br> %<br>|
| Short-Term Investments | 0.4 |
|  | 97.2<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3275822 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3275822 |
| U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 16928158 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16928158 |
| Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 35703176 | &nbsp;&nbsp; — | &nbsp;&nbsp; 35703176 |
| Short-Term Investments | &nbsp;&nbsp; 199710 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 199710 |
| **Total Investments at Value** | &nbsp;&nbsp; $199710 | &nbsp;&nbsp; $55907156 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $56106866 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I International Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 96.4%** | **COMMON STOCKS — 96.4%** | **COMMON STOCKS — 96.4%** |
| **Brazil — 1.8%** | **Brazil — 1.8%** | **Brazil — 1.8%** |
| &nbsp;&nbsp;&nbsp; NU Holdings, Ltd., Class A† | 442690 | &nbsp;&nbsp; $6631496 |
| **Canada — 5.1%** | **Canada — 5.1%** | **Canada — 5.1%** |
| &nbsp;&nbsp;&nbsp; Brookfield Corp. | 195369 | &nbsp;&nbsp; 8564977 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City, Ltd.# | 68225 | &nbsp;&nbsp; 5973970 |
| &nbsp;&nbsp;&nbsp; Shopify, Inc., Class A† | 32668 | &nbsp;&nbsp; 3944008 |
|  |  | &nbsp;&nbsp; 18482955 |
| **Denmark — 6.3%** | **Denmark — 6.3%** | **Denmark — 6.3%** |
| &nbsp;&nbsp;&nbsp; DSV A/S | 87918 | &nbsp;&nbsp; 22738612 |
| **France — 22.2%** | **France — 22.2%** | **France — 22.2%** |
| &nbsp;&nbsp;&nbsp; EssilorLuxottica SA | 26291 | &nbsp;&nbsp; 6995939 |
| &nbsp;&nbsp;&nbsp; Hermes International S.C.A. | 11029 | &nbsp;&nbsp; 26702297 |
| &nbsp;&nbsp;&nbsp; L'Oreal SA | 35742 | &nbsp;&nbsp; 16783296 |
| &nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton SE | 17238 | &nbsp;&nbsp; 11082459 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | 55646 | &nbsp;&nbsp; 18193390 |
|  |  | &nbsp;&nbsp; 79757381 |
| **Germany — 1.5%** | **Germany — 1.5%** | **Germany — 1.5%** |
| &nbsp;&nbsp;&nbsp; SAP SE ADR | 26843 | &nbsp;&nbsp; 5409670 |
| **Hong Kong — 1.4%** | **Hong Kong — 1.4%** | **Hong Kong — 1.4%** |
| &nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 462518 | &nbsp;&nbsp; 5131600 |
| **India — 7.7%** | **India — 7.7%** | **India — 7.7%** |
| &nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 943785 | &nbsp;&nbsp; 9206381 |
| &nbsp;&nbsp;&nbsp; ICICI Bank, Ltd. ADR | 355441 | &nbsp;&nbsp; 10844505 |
| &nbsp;&nbsp;&nbsp; Tata Capital, Ltd.† | 986761 | &nbsp;&nbsp; 3635699 |
| &nbsp;&nbsp;&nbsp; Titan Co., Ltd. | 83692 | &nbsp;&nbsp; 3986067 |
|  |  | &nbsp;&nbsp; 27672652 |
| **Italy — 5.9%** | **Italy — 5.9%** | **Italy — 5.9%** |
| &nbsp;&nbsp;&nbsp; Moncler SpA | 309316 | &nbsp;&nbsp; 21359108 |
| **Japan — 8.8%** | **Japan — 8.8%** | **Japan — 8.8%** |
| &nbsp;&nbsp;&nbsp; Asics Corp. | 227200 | &nbsp;&nbsp; 6974654 |
| &nbsp;&nbsp;&nbsp; Keyence Corp. | 42900 | &nbsp;&nbsp; 18147306 |
| &nbsp;&nbsp;&nbsp; Sanrio Co., Ltd.# | 172700 | &nbsp;&nbsp; 6332278 |
|  |  | &nbsp;&nbsp; 31454238 |
| **Luxembourg — 5.3%** | **Luxembourg — 5.3%** | **Luxembourg — 5.3%** |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 36761 | &nbsp;&nbsp; 18929709 |
| **Netherlands — 7.8%** | **Netherlands — 7.8%** | **Netherlands — 7.8%** |
| &nbsp;&nbsp;&nbsp; Adyen NV\*#† | 3177 | &nbsp;&nbsp; 3734423 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 16642 | &nbsp;&nbsp; 24253811 |
|  |  | &nbsp;&nbsp; 27988234 |
| **Switzerland — 5.4%** | **Switzerland — 5.4%** | **Switzerland — 5.4%** |
| &nbsp;&nbsp;&nbsp; Cie Financiere Richemont SA, Class A | 24534 | &nbsp;&nbsp; 5017847 |
| &nbsp;&nbsp;&nbsp; On Holding AG, Class A† | 133751 | &nbsp;&nbsp; 6216746 |
| &nbsp;&nbsp;&nbsp; Straumann Holding AG# | 68812 | &nbsp;&nbsp; 8287691 |
|  |  | &nbsp;&nbsp; 19522284 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Taiwan — 9.2%** | **Taiwan — 9.2%** | **Taiwan — 9.2%** |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. | 526000 | &nbsp;&nbsp; $33051709 |
| **United Kingdom — 2.1%** | **United Kingdom — 2.1%** | **United Kingdom — 2.1%** |
| &nbsp;&nbsp;&nbsp; Birkenstock Holding PLC#† | 123395 | &nbsp;&nbsp; 5139402 |
| &nbsp;&nbsp;&nbsp; Rightmove PLC | 374749 | &nbsp;&nbsp; 2259508 |
|  |  | &nbsp;&nbsp; 7398910 |
| **United States — 5.9%** | **United States — 5.9%** | **United States — 5.9%** |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class C† | 106917 | &nbsp;&nbsp; 9792528 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc.† | 6419 | &nbsp;&nbsp; 11281906 |
|  |  | &nbsp;&nbsp; 21074434 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $221,294,145)<br>|  | &nbsp;&nbsp; 346602992 |
| **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** |
| **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2) <br>(cost $2,047,391)<br>| 2047391 | &nbsp;&nbsp; 2047391 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $223,341,536)<br>| 97.0<br> %<br>| &nbsp;&nbsp; 348650383 |
| Other assets less liabilities | 3.0 | &nbsp;&nbsp; 10873494 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $359523877 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The International Growth Fund has no right to demand registration <br> of these securities. At February 28, 2026, the aggregate value of these securities was <br> $3,734,423 representing 1.0% of net assets.<br>|
| (1) | The rate shown is the 7-day yield as of February 28, 2026. |
| (2) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $16,401,264. <br> This was secured by collateral of $2,047,391, which was received in cash and <br> subsequently invested in short-term investments currently valued at $2,047,391 as <br> reported in the Portfolio of Investments. Additional collateral of $14,880,394 was <br> received in the form of fixed income pooled securities, which the Fund cannot sell or <br> repledge and accordingly, are not reflected in the Fund's assets and liabilities. The <br> components of the fixed income pooled securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 2.30% to 5.50% | 11/16/2050 to 12/16/2057 | $8488 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 240952 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.50% | 03/31/2026 to 05/15/2055 | 14630954 |

---

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

ADR—American Depositary Receipt<br>

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Semiconductors | 16.0<br> %<br>|
| Apparel | 15.6 |
| Internet | 10.2 |
| Retail | 8.4 |
| Transportation | 7.9 |
| Banks | 7.4 |
| Electrical Components & Equipment | 5.1 |
| Machinery-Diversified | 5.1 |
| Cosmetics/Personal Care | 4.7 |

---

------

**VALIC Company I International Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Healthcare-Products | 4.2<br> %<br>|
| Media | 2.7 |
| Private Equity | 2.4 |
| Toys/Games/Hobbies | 1.8 |
| Software | 1.5 |
| Insurance | 1.4 |
| Commercial Services | 1.0 |
| Diversified Financial Services | 1.0 |
| Short-Term Investments | 0.6 |
|  | 97.0<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33051709 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33051709 |
| &nbsp;&nbsp;&nbsp; Other Countries | &nbsp;&nbsp; 313551283 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 313551283 |
| Short-Term Investments | &nbsp;&nbsp; 2047391 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2047391 |
| **Total Investments at Value** | &nbsp;&nbsp; $315598674 | &nbsp;&nbsp; $33051709 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $348650383 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I International Opportunities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** |
| **Australia — 3.7%** | **Australia — 3.7%** | **Australia — 3.7%** |
| &nbsp;&nbsp;&nbsp; ALS, Ltd. | 75271 | &nbsp;&nbsp; $1372377 |
| &nbsp;&nbsp;&nbsp; BlueScope Steel, Ltd. | 15599 | &nbsp;&nbsp; 310829 |
| &nbsp;&nbsp;&nbsp; Brightstar Resources, Ltd.† | 217674 | &nbsp;&nbsp; 87523 |
| &nbsp;&nbsp;&nbsp; Challenger, Ltd. | 165470 | &nbsp;&nbsp; 1051568 |
| &nbsp;&nbsp;&nbsp; Charter Hall Group | 103299 | &nbsp;&nbsp; 1622426 |
| &nbsp;&nbsp;&nbsp; Cochlear, Ltd.# | 8161 | &nbsp;&nbsp; 1155806 |
| &nbsp;&nbsp;&nbsp; Computershare, Ltd. | 97575 | &nbsp;&nbsp; 2151922 |
| &nbsp;&nbsp;&nbsp; Genesis Minerals, Ltd.#† | 227789 | &nbsp;&nbsp; 1204448 |
| &nbsp;&nbsp;&nbsp; Judo Capital Holdings, Ltd.† | 466852 | &nbsp;&nbsp; 573106 |
| &nbsp;&nbsp;&nbsp; Liberty Financial Group, Ltd. | 195557 | &nbsp;&nbsp; 534406 |
| &nbsp;&nbsp;&nbsp; NEXTDC, Ltd.#† | 54892 | &nbsp;&nbsp; 542207 |
| &nbsp;&nbsp;&nbsp; Nufarm, Ltd.#† | 75711 | &nbsp;&nbsp; 110992 |
| &nbsp;&nbsp;&nbsp; Orica, Ltd. | 41531 | &nbsp;&nbsp; 721746 |
| &nbsp;&nbsp;&nbsp; Orora, Ltd.# | 228846 | &nbsp;&nbsp; 348517 |
| &nbsp;&nbsp;&nbsp; PLS Group, Ltd.#† | 56874 | &nbsp;&nbsp; 210062 |
| &nbsp;&nbsp;&nbsp; Stockland | 104924 | &nbsp;&nbsp; 381559 |
| &nbsp;&nbsp;&nbsp; Yancoal Australia, Ltd.# | 115771 | &nbsp;&nbsp; 482796 |
|  |  | &nbsp;&nbsp; 12862290 |
| **Austria — 1.5%** | **Austria — 1.5%** | **Austria — 1.5%** |
| &nbsp;&nbsp;&nbsp; Addiko Bank AG† | 3987 | &nbsp;&nbsp; 124372 |
| &nbsp;&nbsp;&nbsp; ANDRITZ AG | 21858 | &nbsp;&nbsp; 1899606 |
| &nbsp;&nbsp;&nbsp; BAWAG Group AG\* | 16833 | &nbsp;&nbsp; 2625464 |
| &nbsp;&nbsp;&nbsp; Wienerberger AG | 24008 | &nbsp;&nbsp; 788626 |
|  |  | &nbsp;&nbsp; 5438068 |
| **Belgium — 0.8%** | **Belgium — 0.8%** | **Belgium — 0.8%** |
| &nbsp;&nbsp;&nbsp; Aedifica SA | 2123 | &nbsp;&nbsp; 197296 |
| &nbsp;&nbsp;&nbsp; KBC Ancora# | 9961 | &nbsp;&nbsp; 886275 |
| &nbsp;&nbsp;&nbsp; VGP NV | 13761 | &nbsp;&nbsp; 1788600 |
|  |  | &nbsp;&nbsp; 2872171 |
| **Bermuda — 0.2%** | **Bermuda — 0.2%** | **Bermuda — 0.2%** |
| &nbsp;&nbsp;&nbsp; Hiscox, Ltd. | 42368 | &nbsp;&nbsp; 883866 |
| **Brazil — 3.7%** | **Brazil — 3.7%** | **Brazil — 3.7%** |
| &nbsp;&nbsp;&nbsp; Itausa SA (Preference Shares) | 872179 | &nbsp;&nbsp; 2427776 |
| &nbsp;&nbsp;&nbsp; Odontoprev SA | 170903 | &nbsp;&nbsp; 488056 |
| &nbsp;&nbsp;&nbsp; Raia Drogasil SA | 552542 | &nbsp;&nbsp; 2703160 |
| &nbsp;&nbsp;&nbsp; Rumo SA | 390101 | &nbsp;&nbsp; 1215237 |
| &nbsp;&nbsp;&nbsp; TIM SA | 139433 | &nbsp;&nbsp; 758838 |
| &nbsp;&nbsp;&nbsp; TOTVS SA | 358059 | &nbsp;&nbsp; 2642925 |
| &nbsp;&nbsp;&nbsp; WEG SA | 295490 | &nbsp;&nbsp; 2864694 |
|  |  | &nbsp;&nbsp; 13100686 |
| **British Virgin Islands — 0.3%** | **British Virgin Islands — 0.3%** | **British Virgin Islands — 0.3%** |
| &nbsp;&nbsp;&nbsp; Talon Metals Corp.† | 146524 | &nbsp;&nbsp; 902314 |
| **Canada — 3.8%** | **Canada — 3.8%** | **Canada — 3.8%** |
| &nbsp;&nbsp;&nbsp; Canada Goose Holdings, Inc.#† | 30598 | &nbsp;&nbsp; 376853 |
| &nbsp;&nbsp;&nbsp; CCL Industries, Inc., Class B | 32839 | &nbsp;&nbsp; 2284201 |
| &nbsp;&nbsp;&nbsp; Collective Mining, Ltd.#† | 46180 | &nbsp;&nbsp; 961822 |
| &nbsp;&nbsp;&nbsp; Faraday Copper Corp.† | 376158 | &nbsp;&nbsp; 1450527 |
| &nbsp;&nbsp;&nbsp; Hemlo Mining Corp.† | 73727 | &nbsp;&nbsp; 392404 |
| &nbsp;&nbsp;&nbsp; IMAX Corp.#† | 14498 | &nbsp;&nbsp; 620949 |
| &nbsp;&nbsp;&nbsp; LunR Royalties Corp.#† | 52468 | &nbsp;&nbsp; 1014319 |
| &nbsp;&nbsp;&nbsp; Marimaca Copper Corp.#† | 46022 | &nbsp;&nbsp; 346839 |
| &nbsp;&nbsp;&nbsp; Methanex Corp.# | 10606 | &nbsp;&nbsp; 535101 |
| &nbsp;&nbsp;&nbsp; Mogotes Metals, Inc.† | 865748 | &nbsp;&nbsp; 317345 |
| &nbsp;&nbsp;&nbsp; Montage Gold Corp.† | 91773 | &nbsp;&nbsp; 1143757 |
| &nbsp;&nbsp;&nbsp; NGEx Minerals, Ltd.#† | 60566 | &nbsp;&nbsp; 1399538 |
| &nbsp;&nbsp;&nbsp; PrairieSky Royalty, Ltd.# | 22110 | &nbsp;&nbsp; 504751 |
| &nbsp;&nbsp;&nbsp; Sprott, Inc.# | 8433 | &nbsp;&nbsp; 1366905 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
| &nbsp;&nbsp;&nbsp; Topaz Energy Corp. | 13628 | &nbsp;&nbsp; $311314 |
| &nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc.† | 8605 | &nbsp;&nbsp; 371994 |
|  |  | &nbsp;&nbsp; 13398619 |
| **China — 1.1%** | **China — 1.1%** | **China — 1.1%** |
| &nbsp;&nbsp;&nbsp; ENN Energy Holdings, Ltd. | 93694 | &nbsp;&nbsp; 823957 |
| &nbsp;&nbsp;&nbsp; Hangzhou Tigermed Consulting Co., Ltd.\* | 56151 | &nbsp;&nbsp; 337764 |
| &nbsp;&nbsp;&nbsp; Hesai Group ADR† | 1626 | &nbsp;&nbsp; 43821 |
| &nbsp;&nbsp;&nbsp; Kanzhun, Ltd. ADR | 5166 | &nbsp;&nbsp; 83069 |
| &nbsp;&nbsp;&nbsp; Pony AI, Inc.#† | 11767 | &nbsp;&nbsp; 168739 |
| &nbsp;&nbsp;&nbsp; Shandong Weigao Group Medical Polymer Co., Ltd. | 349806 | &nbsp;&nbsp; 227588 |
| &nbsp;&nbsp;&nbsp; Tingyi Cayman Islands Holding Corp. | 1244000 | &nbsp;&nbsp; 2081443 |
| &nbsp;&nbsp;&nbsp; Yadea Group Holdings, Ltd.\* | 54800 | &nbsp;&nbsp; 79923 |
| &nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings, Ltd. | 56248 | &nbsp;&nbsp; 74486 |
|  |  | &nbsp;&nbsp; 3920790 |
| **Denmark — 2.0%** | **Denmark — 2.0%** | **Denmark — 2.0%** |
| &nbsp;&nbsp;&nbsp; ALK-Abello A/S† | 20759 | &nbsp;&nbsp; 723525 |
| &nbsp;&nbsp;&nbsp; Alm Brand A/S | 56716 | &nbsp;&nbsp; 147360 |
| &nbsp;&nbsp;&nbsp; Ascendis Pharma A/S ADR† | 2545 | &nbsp;&nbsp; 594257 |
| &nbsp;&nbsp;&nbsp; Chemometec A/S | 24961 | &nbsp;&nbsp; 1659435 |
| &nbsp;&nbsp;&nbsp; FLSmidth & Co. A/S | 9965 | &nbsp;&nbsp; 883260 |
| &nbsp;&nbsp;&nbsp; Pandora A/S | 17239 | &nbsp;&nbsp; 1363069 |
| &nbsp;&nbsp;&nbsp; ROCKWOOL A/S, Class B | 22131 | &nbsp;&nbsp; 733372 |
| &nbsp;&nbsp;&nbsp; Royal Unibrew A/S | 10741 | &nbsp;&nbsp; 1058201 |
|  |  | &nbsp;&nbsp; 7162479 |
| **Finland — 1.7%** | **Finland — 1.7%** | **Finland — 1.7%** |
| &nbsp;&nbsp;&nbsp; Elisa Oyj | 41673 | &nbsp;&nbsp; 2139021 |
| &nbsp;&nbsp;&nbsp; Kemira Oyj | 29748 | &nbsp;&nbsp; 720580 |
| &nbsp;&nbsp;&nbsp; Konecranes OYJ | 11554 | &nbsp;&nbsp; 1369317 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | 37618 | &nbsp;&nbsp; 1640184 |
|  |  | &nbsp;&nbsp; 5869102 |
| **France — 4.3%** | **France — 4.3%** | **France — 4.3%** |
| &nbsp;&nbsp;&nbsp; Alten SA | 17528 | &nbsp;&nbsp; 1316190 |
| &nbsp;&nbsp;&nbsp; Arkema SA | 3731 | &nbsp;&nbsp; 273110 |
| &nbsp;&nbsp;&nbsp; Ayvens SA\* | 80785 | &nbsp;&nbsp; 1030920 |
| &nbsp;&nbsp;&nbsp; Gaztransport Et Technigaz SA | 8307 | &nbsp;&nbsp; 1890476 |
| &nbsp;&nbsp;&nbsp; Interparfums SA | 43902 | &nbsp;&nbsp; 1282340 |
| &nbsp;&nbsp;&nbsp; JCDecaux SE | 72418 | &nbsp;&nbsp; 1500882 |
| &nbsp;&nbsp;&nbsp; Lectra | 25159 | &nbsp;&nbsp; 574937 |
| &nbsp;&nbsp;&nbsp; Legrand SA | 11231 | &nbsp;&nbsp; 2041674 |
| &nbsp;&nbsp;&nbsp; Medincell SA† | 20644 | &nbsp;&nbsp; 562014 |
| &nbsp;&nbsp;&nbsp; Neurones | 35965 | &nbsp;&nbsp; 1487369 |
| &nbsp;&nbsp;&nbsp; SEB SA | 2531 | &nbsp;&nbsp; 155961 |
| &nbsp;&nbsp;&nbsp; Thermador Groupe | 6282 | &nbsp;&nbsp; 578979 |
| &nbsp;&nbsp;&nbsp; Valeo SE | 31953 | &nbsp;&nbsp; 464017 |
| &nbsp;&nbsp;&nbsp; Vallourec SACA | 63251 | &nbsp;&nbsp; 1476811 |
| &nbsp;&nbsp;&nbsp; Vetoquinol SA | 3911 | &nbsp;&nbsp; 391419 |
|  |  | &nbsp;&nbsp; 15027099 |
| **Germany — 3.3%** | **Germany — 3.3%** | **Germany — 3.3%** |
| &nbsp;&nbsp;&nbsp; Atoss Software SE | 5978 | &nbsp;&nbsp; 621597 |
| &nbsp;&nbsp;&nbsp; Aumovio SE† | 9840 | &nbsp;&nbsp; 491820 |
| &nbsp;&nbsp;&nbsp; Carl Zeiss Meditec AG | 51496 | &nbsp;&nbsp; 1650189 |
| &nbsp;&nbsp;&nbsp; CTS Eventim AG & Co. KGaA | 34011 | &nbsp;&nbsp; 2766903 |
| &nbsp;&nbsp;&nbsp; Fuchs SE (Preference Shares) | 37305 | &nbsp;&nbsp; 1620366 |
| &nbsp;&nbsp;&nbsp; Knorr-Bremse AG | 25655 | &nbsp;&nbsp; 3380005 |
| &nbsp;&nbsp;&nbsp; United Internet AG | 34305 | &nbsp;&nbsp; 1134974 |
|  |  | &nbsp;&nbsp; 11665854 |

---

------

**VALIC Company I International Opportunities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Greece — 0.5%** | **Greece — 0.5%** | **Greece — 0.5%** |
| &nbsp;&nbsp;&nbsp; Alpha Bank SA | 113016 | &nbsp;&nbsp; $496768 |
| &nbsp;&nbsp;&nbsp; Hellenic Telecommunications Organization SA | 59928 | &nbsp;&nbsp; 1239191 |
|  |  | &nbsp;&nbsp; 1735959 |
| **Hong Kong — 2.0%** | **Hong Kong — 2.0%** | **Hong Kong — 2.0%** |
| &nbsp;&nbsp;&nbsp; Chow Tai Fook Jewellery Group, Ltd.# | 901000 | &nbsp;&nbsp; 1510995 |
| &nbsp;&nbsp;&nbsp; Dah Sing Financial Holdings, Ltd. | 139849 | &nbsp;&nbsp; 760434 |
| &nbsp;&nbsp;&nbsp; HKT Trust & HKT, Ltd. | 1047000 | &nbsp;&nbsp; 1651453 |
| &nbsp;&nbsp;&nbsp; Hysan Development Co., Ltd. | 779685 | &nbsp;&nbsp; 2174595 |
| &nbsp;&nbsp;&nbsp; Impro Precision Industries, Ltd.\*# | 337721 | &nbsp;&nbsp; 375994 |
| &nbsp;&nbsp;&nbsp; Stella International Holdings, Ltd.# | 294108 | &nbsp;&nbsp; 567660 |
|  |  | &nbsp;&nbsp; 7041131 |
| **India — 0.4%** | **India — 0.4%** | **India — 0.4%** |
| &nbsp;&nbsp;&nbsp; Ashok Leyland, Ltd. | 109807 | &nbsp;&nbsp; 255639 |
| &nbsp;&nbsp;&nbsp; Bajaj Holdings & Investment, Ltd. | 8510 | &nbsp;&nbsp; 1010429 |
|  |  | &nbsp;&nbsp; 1266068 |
| **Indonesia — 1.6%** | **Indonesia — 1.6%** | **Indonesia — 1.6%** |
| &nbsp;&nbsp;&nbsp; Indofood CBP Sukses Makmur Tbk PT | 2653900 | &nbsp;&nbsp; 1242655 |
| &nbsp;&nbsp;&nbsp; Selamat Sempurna Tbk PT | 6374900 | &nbsp;&nbsp; 693957 |
| &nbsp;&nbsp;&nbsp; Telkom Indonesia Persero Tbk PT | 10156800 | &nbsp;&nbsp; 2144651 |
| &nbsp;&nbsp;&nbsp; United Tractors Tbk PT | 828200 | &nbsp;&nbsp; 1412856 |
|  |  | &nbsp;&nbsp; 5494119 |
| **Ireland — 1.2%** | **Ireland — 1.2%** | **Ireland — 1.2%** |
| &nbsp;&nbsp;&nbsp; Allegion PLC | 7871 | &nbsp;&nbsp; 1268412 |
| &nbsp;&nbsp;&nbsp; Bank of Cyprus Holdings PLC (ASE) | 68497 | &nbsp;&nbsp; 749468 |
| &nbsp;&nbsp;&nbsp; Bank of Cyprus Holdings PLC (CSE) | 13952 | &nbsp;&nbsp; 151009 |
| &nbsp;&nbsp;&nbsp; ICON PLC† | 14470 | &nbsp;&nbsp; 1564786 |
| &nbsp;&nbsp;&nbsp; Irish Residential Properties REIT PLC | 508948 | &nbsp;&nbsp; 645874 |
|  |  | &nbsp;&nbsp; 4379549 |
| **Israel — 2.6%** | **Israel — 2.6%** | **Israel — 2.6%** |
| &nbsp;&nbsp;&nbsp; Camtek, Ltd.† | 7158 | &nbsp;&nbsp; 1198177 |
| &nbsp;&nbsp;&nbsp; Cellebrite DI, Ltd.† | 73338 | &nbsp;&nbsp; 978329 |
| &nbsp;&nbsp;&nbsp; First International Bank of Israel, Ltd. | 10948 | &nbsp;&nbsp; 941166 |
| &nbsp;&nbsp;&nbsp; Fiverr International, Ltd.#† | 58813 | &nbsp;&nbsp; 636945 |
| &nbsp;&nbsp;&nbsp; Harel Insurance Investments & Financial Services, Ltd. | 1378 | &nbsp;&nbsp; 72362 |
| &nbsp;&nbsp;&nbsp; Melisron, Ltd. | 8663 | &nbsp;&nbsp; 1173374 |
| &nbsp;&nbsp;&nbsp; Menora Mivtachim Holdings, Ltd. | 2502 | &nbsp;&nbsp; 357337 |
| &nbsp;&nbsp;&nbsp; Nova, Ltd.#† | 2693 | &nbsp;&nbsp; 1181850 |
| &nbsp;&nbsp;&nbsp; Oddity Tech, Ltd., Class A#† | 10543 | &nbsp;&nbsp; 124091 |
| &nbsp;&nbsp;&nbsp; Phoenix Financial, Ltd. | 12323 | &nbsp;&nbsp; 629407 |
| &nbsp;&nbsp;&nbsp; Sapiens International Corp. NV | 7138 | &nbsp;&nbsp; 310503 |
| &nbsp;&nbsp;&nbsp; SimilarWeb, Ltd.† | 160497 | &nbsp;&nbsp; 415687 |
| &nbsp;&nbsp;&nbsp; Tower Semiconductor, Ltd.† | 9209 | &nbsp;&nbsp; 1149928 |
|  |  | &nbsp;&nbsp; 9169156 |
| **Italy — 2.0%** | **Italy — 2.0%** | **Italy — 2.0%** |
| &nbsp;&nbsp;&nbsp; Azimut Holding SpA | 1005 | &nbsp;&nbsp; 41670 |
| &nbsp;&nbsp;&nbsp; De' Longhi SpA | 17573 | &nbsp;&nbsp; 809391 |
| &nbsp;&nbsp;&nbsp; Interpump Group SpA | 25811 | &nbsp;&nbsp; 1192483 |
| &nbsp;&nbsp;&nbsp; Italgas SpA | 163851 | &nbsp;&nbsp; 2118053 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | 41328 | &nbsp;&nbsp; 2364502 |
| &nbsp;&nbsp;&nbsp; Saipem SpA# | 110186 | &nbsp;&nbsp; 464929 |
|  |  | &nbsp;&nbsp; 6991028 |
| **Japan — 26.2%** | **Japan — 26.2%** | **Japan — 26.2%** |
| &nbsp;&nbsp;&nbsp; ABC-Mart, Inc.# | 56759 | &nbsp;&nbsp; 953525 |
| &nbsp;&nbsp;&nbsp; Activia Properties, Inc. | 1444 | &nbsp;&nbsp; 1381447 |
| &nbsp;&nbsp;&nbsp; and ST HD Co., Ltd.# | 41533 | &nbsp;&nbsp; 796804 |
| &nbsp;&nbsp;&nbsp; As One Corp. | 33100 | &nbsp;&nbsp; 482304 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; Asahi Intecc Co., Ltd. | 31214 | &nbsp;&nbsp; $672790 |
| &nbsp;&nbsp;&nbsp; ASKUL Corp. | 67382 | &nbsp;&nbsp; 562218 |
| &nbsp;&nbsp;&nbsp; Azbil Corp.# | 339300 | &nbsp;&nbsp; 3159109 |
| &nbsp;&nbsp;&nbsp; BayCurrent, Inc.# | 11178 | &nbsp;&nbsp; 322460 |
| &nbsp;&nbsp;&nbsp; Canon Marketing Japan, Inc. | 27437 | &nbsp;&nbsp; 1230549 |
| &nbsp;&nbsp;&nbsp; Capcom Co., Ltd. | 12507 | &nbsp;&nbsp; 287758 |
| &nbsp;&nbsp;&nbsp; Cosmo Energy Holdings Co., Ltd. | 16600 | &nbsp;&nbsp; 512037 |
| &nbsp;&nbsp;&nbsp; Daiei Kankyo Co., Ltd. | 4700 | &nbsp;&nbsp; 116172 |
| &nbsp;&nbsp;&nbsp; Denka Co., Ltd.# | 49199 | &nbsp;&nbsp; 1159050 |
| &nbsp;&nbsp;&nbsp; Disco Corp. | 6700 | &nbsp;&nbsp; 3239202 |
| &nbsp;&nbsp;&nbsp; eGuarantee, Inc. | 9295 | &nbsp;&nbsp; 102970 |
| &nbsp;&nbsp;&nbsp; en, Inc. | 9272 | &nbsp;&nbsp; 73682 |
| &nbsp;&nbsp;&nbsp; FP Corp. | 22543 | &nbsp;&nbsp; 407511 |
| &nbsp;&nbsp;&nbsp; Fujimi, Inc.# | 61300 | &nbsp;&nbsp; 1295361 |
| &nbsp;&nbsp;&nbsp; Fukui Computer Holdings, Inc. | 31900 | &nbsp;&nbsp; 701671 |
| &nbsp;&nbsp;&nbsp; Fukuoka Financial Group, Inc. | 41480 | &nbsp;&nbsp; 1817614 |
| &nbsp;&nbsp;&nbsp; Funai Soken Holdings, Inc. | 66400 | &nbsp;&nbsp; 491521 |
| &nbsp;&nbsp;&nbsp; Furukawa Electric Co., Ltd. | 3110 | &nbsp;&nbsp; 559607 |
| &nbsp;&nbsp;&nbsp; GMO Payment Gateway, Inc.# | 10352 | &nbsp;&nbsp; 536343 |
| &nbsp;&nbsp;&nbsp; Hachijuni Nagano Bank, Ltd.# | 51066 | &nbsp;&nbsp; 679997 |
| &nbsp;&nbsp;&nbsp; Harmonic Drive Systems, Inc. | 14115 | &nbsp;&nbsp; 411704 |
| &nbsp;&nbsp;&nbsp; Hitachi Construction Machinery Co., Ltd.# | 27720 | &nbsp;&nbsp; 1247325 |
| &nbsp;&nbsp;&nbsp; Hokuhoku Financial Group, Inc.# | 28500 | &nbsp;&nbsp; 1140803 |
| &nbsp;&nbsp;&nbsp; Hoshizaki Corp. | 22249 | &nbsp;&nbsp; 783021 |
| &nbsp;&nbsp;&nbsp; Ibiden Co., Ltd. | 23182 | &nbsp;&nbsp; 1415725 |
| &nbsp;&nbsp;&nbsp; Japan Steel Works, Ltd.# | 11152 | &nbsp;&nbsp; 729827 |
| &nbsp;&nbsp;&nbsp; JCU Corp.# | 13000 | &nbsp;&nbsp; 580220 |
| &nbsp;&nbsp;&nbsp; Kansai Paint Co., Ltd.# | 28100 | &nbsp;&nbsp; 497348 |
| &nbsp;&nbsp;&nbsp; Katitas Co., Ltd. | 63000 | &nbsp;&nbsp; 1442225 |
| &nbsp;&nbsp;&nbsp; Kikkoman Corp.# | 276400 | &nbsp;&nbsp; 2654884 |
| &nbsp;&nbsp;&nbsp; Koito Manufacturing Co., Ltd.# | 26733 | &nbsp;&nbsp; 482911 |
| &nbsp;&nbsp;&nbsp; Kokusai Electric Corp.# | 34039 | &nbsp;&nbsp; 1408946 |
| &nbsp;&nbsp;&nbsp; Kyoto Financial Group, Inc. | 2402 | &nbsp;&nbsp; 59633 |
| &nbsp;&nbsp;&nbsp; Kyushu Electric Power Co., Inc. | 168173 | &nbsp;&nbsp; 2168863 |
| &nbsp;&nbsp;&nbsp; Lixil Corp. | 8600 | &nbsp;&nbsp; 101053 |
| &nbsp;&nbsp;&nbsp; M3, Inc.# | 55613 | &nbsp;&nbsp; 611809 |
| &nbsp;&nbsp;&nbsp; Marui Group Co., Ltd. | 43805 | &nbsp;&nbsp; 890322 |
| &nbsp;&nbsp;&nbsp; Maruwa Co. Ltd | 3028 | &nbsp;&nbsp; 1188204 |
| &nbsp;&nbsp;&nbsp; Mebuki Financial Group, Inc. | 335180 | &nbsp;&nbsp; 2882507 |
| &nbsp;&nbsp;&nbsp; MEC Co., Ltd.# | 5300 | &nbsp;&nbsp; 238587 |
| &nbsp;&nbsp;&nbsp; MEITEC Group Holdings, Inc. | 67800 | &nbsp;&nbsp; 1493063 |
| &nbsp;&nbsp;&nbsp; MISUMI Group, Inc. | 147433 | &nbsp;&nbsp; 2971979 |
| &nbsp;&nbsp;&nbsp; Mitsui Kinzoku Co., Ltd.# | 3607 | &nbsp;&nbsp; 852524 |
| &nbsp;&nbsp;&nbsp; Morinaga & Co., Ltd. | 10379 | &nbsp;&nbsp; 192041 |
| &nbsp;&nbsp;&nbsp; Nabtesco Corp. | 31767 | &nbsp;&nbsp; 1033981 |
| &nbsp;&nbsp;&nbsp; Nichias Corp.# | 7830 | &nbsp;&nbsp; 481387 |
| &nbsp;&nbsp;&nbsp; Nifco, Inc. | 5475 | &nbsp;&nbsp; 194368 |
| &nbsp;&nbsp;&nbsp; Nissan Chemical Corp.# | 13443 | &nbsp;&nbsp; 611785 |
| &nbsp;&nbsp;&nbsp; NOF Corp. | 61500 | &nbsp;&nbsp; 1235789 |
| &nbsp;&nbsp;&nbsp; Nomura Real Estate Holdings, Inc. | 239308 | &nbsp;&nbsp; 1781421 |
| &nbsp;&nbsp;&nbsp; Nomura Research Institute, Ltd.# | 54600 | &nbsp;&nbsp; 1526835 |
| &nbsp;&nbsp;&nbsp; NSD Co., Ltd. | 43300 | &nbsp;&nbsp; 790638 |
| &nbsp;&nbsp;&nbsp; Nxera Pharma Co., Ltd.#† | 56116 | &nbsp;&nbsp; 347120 |
| &nbsp;&nbsp;&nbsp; OBIC Business Consultants Co., Ltd. | 23800 | &nbsp;&nbsp; 963186 |
| &nbsp;&nbsp;&nbsp; Obic Co., Ltd. | 85400 | &nbsp;&nbsp; 2296801 |
| &nbsp;&nbsp;&nbsp; Olympus Corp. | 197500 | &nbsp;&nbsp; 1932443 |
| &nbsp;&nbsp;&nbsp; PALTAC Corp. | 24199 | &nbsp;&nbsp; 783777 |
| &nbsp;&nbsp;&nbsp; Penta-Ocean Construction Co., Ltd. | 119943 | &nbsp;&nbsp; 1638641 |
| &nbsp;&nbsp;&nbsp; Persol Holdings Co., Ltd. | 378137 | &nbsp;&nbsp; 604864 |
| &nbsp;&nbsp;&nbsp; PILLAR Corp.# | 12616 | &nbsp;&nbsp; 686684 |
| &nbsp;&nbsp;&nbsp; Relo Group, Inc. | 33767 | &nbsp;&nbsp; 416452 |
| &nbsp;&nbsp;&nbsp; Resonac Holdings Corp. | 11407 | &nbsp;&nbsp; 871421 |
| &nbsp;&nbsp;&nbsp; Resorttrust, Inc. | 117854 | &nbsp;&nbsp; 1460298 |

---

------

**VALIC Company I International Opportunities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; Rohto Pharmaceutical Co., Ltd. | 16871 | &nbsp;&nbsp; $263817 |
| &nbsp;&nbsp;&nbsp; Sanki Engineering Co., Ltd.# | 20870 | &nbsp;&nbsp; 1053089 |
| &nbsp;&nbsp;&nbsp; Sansan, Inc.† | 29264 | &nbsp;&nbsp; 219998 |
| &nbsp;&nbsp;&nbsp; Sega Sammy Holdings, Inc.# | 63790 | &nbsp;&nbsp; 1068171 |
| &nbsp;&nbsp;&nbsp; Seria Co., Ltd. | 72600 | &nbsp;&nbsp; 2017635 |
| &nbsp;&nbsp;&nbsp; Shikoku Kasei Holdings Corp.# | 2680 | &nbsp;&nbsp; 89925 |
| &nbsp;&nbsp;&nbsp; Shimadzu Corp.# | 9405 | &nbsp;&nbsp; 262520 |
| &nbsp;&nbsp;&nbsp; Shimamura Co., Ltd. | 64110 | &nbsp;&nbsp; 1476256 |
| &nbsp;&nbsp;&nbsp; Shimano, Inc. | 15500 | &nbsp;&nbsp; 1663497 |
| &nbsp;&nbsp;&nbsp; Shimizu Corp. | 89548 | &nbsp;&nbsp; 2002953 |
| &nbsp;&nbsp;&nbsp; SHO-BOND Holdings Co., Ltd.# | 162600 | &nbsp;&nbsp; 1530573 |
| &nbsp;&nbsp;&nbsp; SIGMAXYZ Holdings, Inc. | 17954 | &nbsp;&nbsp; 84387 |
| &nbsp;&nbsp;&nbsp; Sinfonia Technology Co., Ltd. | 3781 | &nbsp;&nbsp; 319109 |
| &nbsp;&nbsp;&nbsp; Sumitomo Rubber Industries, Ltd. | 18371 | &nbsp;&nbsp; 327211 |
| &nbsp;&nbsp;&nbsp; Sundrug Co., Ltd. | 7155 | &nbsp;&nbsp; 193439 |
| &nbsp;&nbsp;&nbsp; THK Co., Ltd. | 20400 | &nbsp;&nbsp; 736367 |
| &nbsp;&nbsp;&nbsp; TKC Corp.# | 42500 | &nbsp;&nbsp; 1096757 |
| &nbsp;&nbsp;&nbsp; Tochigi Bank Ltd. | 21890 | &nbsp;&nbsp; 142555 |
| &nbsp;&nbsp;&nbsp; Tokyo Electric Power Co. Holdings, Inc.† | 89394 | &nbsp;&nbsp; 400932 |
| &nbsp;&nbsp;&nbsp; Tokyotokeiba Co., Ltd. | 21491 | &nbsp;&nbsp; 821575 |
| &nbsp;&nbsp;&nbsp; Tokyu Fudosan Holdings Corp. | 151697 | &nbsp;&nbsp; 1525567 |
| &nbsp;&nbsp;&nbsp; Toyo Suisan Kaisha, Ltd. | 34644 | &nbsp;&nbsp; 2727551 |
| &nbsp;&nbsp;&nbsp; Toyoda Gosei Co., Ltd. | 10781 | &nbsp;&nbsp; 351462 |
| &nbsp;&nbsp;&nbsp; Ulvac, Inc. | 18671 | &nbsp;&nbsp; 1252983 |
| &nbsp;&nbsp;&nbsp; USS Co., Ltd. | 108800 | &nbsp;&nbsp; 1325470 |
| &nbsp;&nbsp;&nbsp; Vision, Inc. | 41500 | &nbsp;&nbsp; 350783 |
| &nbsp;&nbsp;&nbsp; Visional, Inc.† | 4421 | &nbsp;&nbsp; 208162 |
| &nbsp;&nbsp;&nbsp; Yaskawa Electric Corp.# | 23851 | &nbsp;&nbsp; 842303 |
|  |  | &nbsp;&nbsp; 92000164 |
| **Luxembourg — 0.6%** | **Luxembourg — 0.6%** | **Luxembourg — 0.6%** |
| &nbsp;&nbsp;&nbsp; Subsea 7 SA | 16907 | &nbsp;&nbsp; 488630 |
| &nbsp;&nbsp;&nbsp; Tenaris SA ADR | 29631 | &nbsp;&nbsp; 1611927 |
|  |  | &nbsp;&nbsp; 2100557 |
| **Mauritius — 0.4%** | **Mauritius — 0.4%** | **Mauritius — 0.4%** |
| &nbsp;&nbsp;&nbsp; Alphamin Resources Corp.# | 915465 | &nbsp;&nbsp; 1053686 |
| &nbsp;&nbsp;&nbsp; MakeMyTrip, Ltd.#† | 6255 | &nbsp;&nbsp; 353220 |
|  |  | &nbsp;&nbsp; 1406906 |
| **Mexico — 1.3%** | **Mexico — 1.3%** | **Mexico — 1.3%** |
| &nbsp;&nbsp;&nbsp; Esentia Energy Development SAB de CV† | 162799 | &nbsp;&nbsp; 494296 |
| &nbsp;&nbsp;&nbsp; Gruma SAB de CV, Class B# | 115002 | &nbsp;&nbsp; 2073535 |
| &nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Sureste SAB de CV, Class B | 15851 | &nbsp;&nbsp; 570947 |
| &nbsp;&nbsp;&nbsp; Regional SAB de CV | 165815 | &nbsp;&nbsp; 1549641 |
|  |  | &nbsp;&nbsp; 4688419 |
| **Netherlands — 2.7%** | **Netherlands — 2.7%** | **Netherlands — 2.7%** |
| &nbsp;&nbsp;&nbsp; Arcadis NV# | 52294 | &nbsp;&nbsp; 1848775 |
| &nbsp;&nbsp;&nbsp; IMCD NV | 18619 | &nbsp;&nbsp; 1790817 |
| &nbsp;&nbsp;&nbsp; Immatics NV† | 39303 | &nbsp;&nbsp; 406393 |
| &nbsp;&nbsp;&nbsp; Koninklijke Vopak NV | 16779 | &nbsp;&nbsp; 920723 |
| &nbsp;&nbsp;&nbsp; Pharvaris NV† | 23264 | &nbsp;&nbsp; 660465 |
| &nbsp;&nbsp;&nbsp; SBM Offshore NV | 13825 | &nbsp;&nbsp; 532214 |
| &nbsp;&nbsp;&nbsp; Technip Energies NV | 31103 | &nbsp;&nbsp; 1345833 |
| &nbsp;&nbsp;&nbsp; Wereldhave NV | 67602 | &nbsp;&nbsp; 1861170 |
|  |  | &nbsp;&nbsp; 9366390 |
| **Norway — 0.6%** | **Norway — 0.6%** | **Norway — 0.6%** |
| &nbsp;&nbsp;&nbsp; Europris ASA\* | 74040 | &nbsp;&nbsp; 710164 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
| &nbsp;&nbsp;&nbsp; Gjensidige Forsikring ASA | 30211 | &nbsp;&nbsp; $852795 |
| &nbsp;&nbsp;&nbsp; Storebrand ASA | 29433 | &nbsp;&nbsp; 557810 |
|  |  | &nbsp;&nbsp; 2120769 |
| **Poland — 0.1%** | **Poland — 0.1%** | **Poland — 0.1%** |
| &nbsp;&nbsp;&nbsp; Alior Bank SA | 13814 | &nbsp;&nbsp; 462187 |
| **Russia — 0.0%** | **Russia — 0.0%** | **Russia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Moscow Exchange MICEX-RTS PJSC†(1)(2) | 205642 | &nbsp;&nbsp; 0 |
| **Singapore — 0.3%** | **Singapore — 0.3%** | **Singapore — 0.3%** |
| &nbsp;&nbsp;&nbsp; BOC Aviation, Ltd.\* | 40606 | &nbsp;&nbsp; 452077 |
| &nbsp;&nbsp;&nbsp; City Developments, Ltd. | 94700 | &nbsp;&nbsp; 735200 |
|  |  | &nbsp;&nbsp; 1187277 |
| **Slovenia — 0.3%** | **Slovenia — 0.3%** | **Slovenia — 0.3%** |
| &nbsp;&nbsp;&nbsp; Nova Ljubljanska Banka dd GDR | 18220 | &nbsp;&nbsp; 949418 |
| **South Africa — 0.2%** | **South Africa — 0.2%** | **South Africa — 0.2%** |
| &nbsp;&nbsp;&nbsp; Hudaco Industries, Ltd. | 40661 | &nbsp;&nbsp; 548998 |
| **South Korea — 1.0%** | **South Korea — 1.0%** | **South Korea — 1.0%** |
| &nbsp;&nbsp;&nbsp; Coway Co., Ltd.† | 36050 | &nbsp;&nbsp; 2052482 |
| &nbsp;&nbsp;&nbsp; NICE Information Service Co., Ltd. | 33134 | &nbsp;&nbsp; 394107 |
| &nbsp;&nbsp;&nbsp; Park Systems Corp. | 4726 | &nbsp;&nbsp; 947828 |
|  |  | &nbsp;&nbsp; 3394417 |
| **Spain — 0.6%** | **Spain — 0.6%** | **Spain — 0.6%** |
| &nbsp;&nbsp;&nbsp; Almirall SA# | 43005 | &nbsp;&nbsp; 654493 |
| &nbsp;&nbsp;&nbsp; Atalaya Mining Copper SA | 34593 | &nbsp;&nbsp; 479246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Linea Directa Aseguradora SA Cia de Seguros y <br> Reaseguros<br>| 108925 | &nbsp;&nbsp; 162942 |
| &nbsp;&nbsp;&nbsp; Logista Integral SA# | 21713 | &nbsp;&nbsp; 827665 |
|  |  | &nbsp;&nbsp; 2124346 |
| **Sweden — 4.2%** | **Sweden — 4.2%** | **Sweden — 4.2%** |
| &nbsp;&nbsp;&nbsp; AddTech AB, Class B | 48820 | &nbsp;&nbsp; 1809470 |
| &nbsp;&nbsp;&nbsp; Billerud Aktiebolag | 62872 | &nbsp;&nbsp; 574913 |
| &nbsp;&nbsp;&nbsp; Camurus AB† | 4930 | &nbsp;&nbsp; 274690 |
| &nbsp;&nbsp;&nbsp; Castellum AB | 53153 | &nbsp;&nbsp; 707423 |
| &nbsp;&nbsp;&nbsp; Cibus Nordic Real Estate AB publ | 12731 | &nbsp;&nbsp; 215765 |
| &nbsp;&nbsp;&nbsp; Haypp Group AB† | 43509 | &nbsp;&nbsp; 635217 |
| &nbsp;&nbsp;&nbsp; Hexpol AB | 159868 | &nbsp;&nbsp; 1374203 |
| &nbsp;&nbsp;&nbsp; Karnov Group AB† | 102007 | &nbsp;&nbsp; 845200 |
| &nbsp;&nbsp;&nbsp; Loomis AB | 40263 | &nbsp;&nbsp; 2041783 |
| &nbsp;&nbsp;&nbsp; Mycronic AB | 93765 | &nbsp;&nbsp; 2132345 |
| &nbsp;&nbsp;&nbsp; NOBA Bank Group AB† | 54016 | &nbsp;&nbsp; 582307 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A | 185678 | &nbsp;&nbsp; 2974106 |
| &nbsp;&nbsp;&nbsp; Thule Group AB\* | 24297 | &nbsp;&nbsp; 630867 |
|  |  | &nbsp;&nbsp; 14798289 |
| **Switzerland — 5.3%** | **Switzerland — 5.3%** | **Switzerland — 5.3%** |
| &nbsp;&nbsp;&nbsp; BKW AG | 9246 | &nbsp;&nbsp; 1820699 |
| &nbsp;&nbsp;&nbsp; Bucher Industries AG | 1766 | &nbsp;&nbsp; 877430 |
| &nbsp;&nbsp;&nbsp; Cembra Money Bank AG | 13443 | &nbsp;&nbsp; 1741462 |
| &nbsp;&nbsp;&nbsp; Flughafen Zurich AG | 1590 | &nbsp;&nbsp; 545958 |
| &nbsp;&nbsp;&nbsp; Oculis Holding AG† | 18429 | &nbsp;&nbsp; 541997 |
| &nbsp;&nbsp;&nbsp; Partners Group Holding AG# | 3776 | &nbsp;&nbsp; 4210890 |
| &nbsp;&nbsp;&nbsp; PSP Swiss Property AG | 2119 | &nbsp;&nbsp; 456680 |
| &nbsp;&nbsp;&nbsp; Siegfried Holding AG | 6368 | &nbsp;&nbsp; 709810 |
| &nbsp;&nbsp;&nbsp; Sika AG | 7691 | &nbsp;&nbsp; 1595519 |
| &nbsp;&nbsp;&nbsp; Sulzer AG | 6866 | &nbsp;&nbsp; 1518137 |
| &nbsp;&nbsp;&nbsp; Tecan Group AG | 11940 | &nbsp;&nbsp; 2115143 |
| &nbsp;&nbsp;&nbsp; VZ Holding AG | 13717 | &nbsp;&nbsp; 2583367 |
|  |  | &nbsp;&nbsp; 18717092 |

---

------

**VALIC Company I International Opportunities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Taiwan — 3.1%** | **Taiwan — 3.1%** | **Taiwan — 3.1%** |
| &nbsp;&nbsp;&nbsp; Advantech Co., Ltd. | 252000 | &nbsp;&nbsp; $2698462 |
| &nbsp;&nbsp;&nbsp; Airtac International Group | 17860 | &nbsp;&nbsp; 689391 |
| &nbsp;&nbsp;&nbsp; ASPEED Technology, Inc. | 5388 | &nbsp;&nbsp; 1655953 |
| &nbsp;&nbsp;&nbsp; Chroma ATE, Inc. | 38769 | &nbsp;&nbsp; 1686141 |
| &nbsp;&nbsp;&nbsp; Minth Group, Ltd. | 11494 | &nbsp;&nbsp; 64468 |
| &nbsp;&nbsp;&nbsp; Nien Made Enterprise Co., Ltd. | 187000 | &nbsp;&nbsp; 2408343 |
| &nbsp;&nbsp;&nbsp; Unimicron Technology Corp. | 113280 | &nbsp;&nbsp; 1720454 |
|  |  | &nbsp;&nbsp; 10923212 |
| **United Kingdom — 13.5%** | **United Kingdom — 13.5%** | **United Kingdom — 13.5%** |
| &nbsp;&nbsp;&nbsp; Babcock International Group PLC | 55090 | &nbsp;&nbsp; 1003753 |
| &nbsp;&nbsp;&nbsp; Beazley PLC | 34364 | &nbsp;&nbsp; 586756 |
| &nbsp;&nbsp;&nbsp; BP Marsh & Partners PLC | 15003 | &nbsp;&nbsp; 137892 |
| &nbsp;&nbsp;&nbsp; Bunzl PLC | 100549 | &nbsp;&nbsp; 2972978 |
| &nbsp;&nbsp;&nbsp; Burberry Group PLC† | 9276 | &nbsp;&nbsp; 145384 |
| &nbsp;&nbsp;&nbsp; Coats Group PLC | 437730 | &nbsp;&nbsp; 550383 |
| &nbsp;&nbsp;&nbsp; Currys PLC | 941624 | &nbsp;&nbsp; 2044327 |
| &nbsp;&nbsp;&nbsp; Diploma PLC | 23358 | &nbsp;&nbsp; 1786401 |
| &nbsp;&nbsp;&nbsp; easyJet PLC | 137535 | &nbsp;&nbsp; 860020 |
| &nbsp;&nbsp;&nbsp; Elementis PLC | 248533 | &nbsp;&nbsp; 555993 |
| &nbsp;&nbsp;&nbsp; Games Workshop Group PLC | 3563 | &nbsp;&nbsp; 859021 |
| &nbsp;&nbsp;&nbsp; Genuit Group Plc | 219908 | &nbsp;&nbsp; 1129129 |
| &nbsp;&nbsp;&nbsp; Genus PLC | 16710 | &nbsp;&nbsp; 656436 |
| &nbsp;&nbsp;&nbsp; Greggs PLC# | 9834 | &nbsp;&nbsp; 209924 |
| &nbsp;&nbsp;&nbsp; Hammerson PLC# | 414963 | &nbsp;&nbsp; 2059067 |
| &nbsp;&nbsp;&nbsp; Hill & Smith PLC | 45279 | &nbsp;&nbsp; 1452283 |
| &nbsp;&nbsp;&nbsp; Howden Joinery Group PLC | 182388 | &nbsp;&nbsp; 2384215 |
| &nbsp;&nbsp;&nbsp; ICG PLC | 17932 | &nbsp;&nbsp; 405748 |
| &nbsp;&nbsp;&nbsp; IMI PLC | 89394 | &nbsp;&nbsp; 3469591 |
| &nbsp;&nbsp;&nbsp; Immunocore Holdings PLC ADR#† | 9818 | &nbsp;&nbsp; 317121 |
| &nbsp;&nbsp;&nbsp; Inchcape PLC | 70879 | &nbsp;&nbsp; 848697 |
| &nbsp;&nbsp;&nbsp; Intertek Group PLC | 32134 | &nbsp;&nbsp; 2044882 |
| &nbsp;&nbsp;&nbsp; Kingfisher PLC | 113002 | &nbsp;&nbsp; 564224 |
| &nbsp;&nbsp;&nbsp; Marks & Spencer Group PLC | 249400 | &nbsp;&nbsp; 1332653 |
| &nbsp;&nbsp;&nbsp; Pennon Group PLC | 72147 | &nbsp;&nbsp; 583374 |
| &nbsp;&nbsp;&nbsp; QinetiQ Group PLC | 81898 | &nbsp;&nbsp; 557368 |
| &nbsp;&nbsp;&nbsp; Quilter PLC\* | 151620 | &nbsp;&nbsp; 400488 |
| &nbsp;&nbsp;&nbsp; Rathbones Group PLC | 39282 | &nbsp;&nbsp; 1199055 |
| &nbsp;&nbsp;&nbsp; Rightmove PLC | 212456 | &nbsp;&nbsp; 1280980 |
| &nbsp;&nbsp;&nbsp; Rotork PLC | 578602 | &nbsp;&nbsp; 3008289 |
| &nbsp;&nbsp;&nbsp; Safestore Holdings PLC# | 43048 | &nbsp;&nbsp; 460048 |
| &nbsp;&nbsp;&nbsp; Senior PLC | 288214 | &nbsp;&nbsp; 1196308 |
| &nbsp;&nbsp;&nbsp; Shawbrook Group PLC\*† | 127952 | &nbsp;&nbsp; 679392 |
| &nbsp;&nbsp;&nbsp; SigmaRoc PLC† | 601727 | &nbsp;&nbsp; 1203402 |
| &nbsp;&nbsp;&nbsp; Smiths Group PLC | 12727 | &nbsp;&nbsp; 470982 |
| &nbsp;&nbsp;&nbsp; Softcat PLC | 55185 | &nbsp;&nbsp; 847819 |
| &nbsp;&nbsp;&nbsp; Spirax Group PLC | 30167 | &nbsp;&nbsp; 3213745 |
| &nbsp;&nbsp;&nbsp; St. James's Place PLC | 30252 | &nbsp;&nbsp; 550383 |
| &nbsp;&nbsp;&nbsp; Tate & Lyle PLC# | 95939 | &nbsp;&nbsp; 486915 |
| &nbsp;&nbsp;&nbsp; Trainline PLC\*† | 290256 | &nbsp;&nbsp; 763943 |
| &nbsp;&nbsp;&nbsp; Weir Group PLC | 42710 | &nbsp;&nbsp; 2027199 |
|  |  | &nbsp;&nbsp; 47306568 |
| **United States — 0.4%** | **United States — 0.4%** | **United States — 0.4%** |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. | 9381 | &nbsp;&nbsp; 1450490 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $293,281,639)<br>|  | &nbsp;&nbsp; 342725847 |
| **PREFERRED STOCKS — 0.1%** | **PREFERRED STOCKS — 0.1%** | **PREFERRED STOCKS — 0.1%** |
| **Germany — 0.1%** | **Germany — 0.1%** | **Germany — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jungheinrich AG (Preference Shares) <br>(cost $269,690)<br>| 6658 | &nbsp;&nbsp; 252691 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.4%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.4%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.4%** |
| **United States — 0.4%** | **United States — 0.4%** | **United States — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI EAFE Small-Cap ETF <br>(cost $1,465,781)<br>| 17166 | &nbsp;&nbsp; $1471470 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |
| **Canada — 0.0%** | **Canada — 0.0%** | **Canada — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Motoges Metals, Inc.† <br>Expires 01/22/2029 <br>(cost $0)<br>| 545650 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $295,017,110)<br>|  | &nbsp;&nbsp; 344450008 |
| **SHORT-TERM INVESTMENTS — 3.2%** | **SHORT-TERM INVESTMENTS — 3.2%** | **SHORT-TERM INVESTMENTS — 3.2%** |
| **Unaffiliated Investment Companies — 3.2%** | **Unaffiliated Investment Companies — 3.2%** | **Unaffiliated Investment Companies — 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(3)(4) <br>(cost $11,355,232)<br>| 11355232 | &nbsp;&nbsp; 11355232 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $306,372,342)<br>| 101.2<br> %<br>| &nbsp;&nbsp; 355805240 |
| Other assets less liabilities | (1.2)<br>| &nbsp;&nbsp; (4287893)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $351517347 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The International Opportunities Fund has no right to demand <br> registration of these securities. At February 28, 2026, the aggregate value of these <br> securities was $8,086,996 representing 2.3% of net assets.<br>|

---

------

**VALIC Company I International Opportunities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Securities classified as Level 3 (see Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Denotes a restricted security that: (a) cannot be offered for public sale without
 first being registered, or being able to take advantage of an exemption from registration, under
 the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales
 by operation of applicable law. Restricted securities are valued pursuant to Note 1.
 Certain restricted securities held by the Fund may not be sold except in exempt transactions
 or in a public offering registered under the 1933 Act. The Fund has no right to demand registration of these securities. The risk of investing in certain restricted securities
 is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Fund to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit
 greater price volatility than securities for which secondary markets exist. As of February
 28, 2026, the Fund held the following restricted securities:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| &nbsp;&nbsp;&nbsp; Moscow Exchange MICEX-RTS <br> PJSC<br>| 03/26/20, 03/27/20 <br>10/19/20<br>| 205642 | $256066 | $0 | $0.00 | 0.0<br> %<br>|

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) At February 28, 2026, the Fund had loaned securities with a total value of $39,424,039. This was secured by collateral of $11,355,232, which was received in cash and subsequently invested in short-term investments currently valued at $11,355,232 as reported in the Portfolio of Investments. Additional collateral of $30,105,611 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $2852 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 14358 |
| &nbsp;&nbsp;&nbsp; Government National Mtg. <br> Assoc.<br>| 2.30% to 5.50% | 11/16/2050 to 12/16/2057 | 3405 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 652419 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.50% | 03/31/2026 to 02/15/2056 | 29432577 |

---

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

---

| |
|:---|
| ADR—American Depositary Receipt |
| ASE—Athens Stock Exchange |
| CSE—Cyprus Stock Exchange |
| ETF—Exchange Traded Fund |
| GDR—Global Depositary Receipt |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | 6.9<br> %<br>|
| Machinery-Diversified | 6.4 |
| Retail | 5.3 |
| Miscellaneous Manufacturing | 4.4 |
| Electronics | 4.2 |
| Food | 3.9 |
| Mining | 3.7 |
| Commercial Services | 3.5 |
| Short-Term Investments | 3.2 |
| Semiconductors | 3.2 |
| Engineering & Construction | 3.2 |
| Chemicals | 3.0 |
| Real Estate | 2.9 |
| Computers | 2.7 |
| Software | 2.7 |
| Telecommunications | 2.6 |
| Distribution/Wholesale | 2.5 |
| REITS | 2.5 |
| Healthcare-Products | 2.4 |
| Building Materials | 2.3 |
| Diversified Financial Services | 2.0 |
| Pharmaceuticals | 2.0 |
| Internet | 1.8 |
| Home Furnishings | 1.7 |
| Metal Fabricate/Hardware | 1.7 |
| Insurance | 1.6 |

---

------

**VALIC Company I International Opportunities Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Private Equity | 1.3<br> %<br>|
| Electric | 1.2 |
| Entertainment | 1.2 |
| Auto Parts & Equipment | 1.1 |
| Packaging & Containers | 1.0 |
| Investment Companies | 1.0 |
| Machinery-Construction & Mining | 1.0 |
| Pipelines | 0.9 |
| Electrical Components & Equipment | 0.9 |
| Gas | 0.8 |
| Housewares | 0.7 |
| Leisure Time | 0.7 |
| Biotechnology | 0.7 |
| Transportation | 0.5 |
| Cosmetics/Personal Care | 0.5 |
| Healthcare-Services | 0.4 |
| Advertising | 0.4 |
| Oil & Gas Services | 0.4 |
| Unaffiliated Investment Companies | 0.4 |
| Lodging | 0.4 |
| Hand/Machine Tools | 0.4 |
| Office/Business Equipment | 0.4 |
| Oil & Gas | 0.3 |
| Apparel | 0.3 |
| Beverages | 0.3 |
| Iron/Steel | 0.3 |
| Airlines | 0.2 |
| Toys/Games/Hobbies | 0.2 |
| Agriculture | 0.2 |
| Water | 0.2 |
| Aerospace/Defense | 0.2 |
| Textiles | 0.2 |
| Coal | 0.1 |
| Auto Manufacturers | 0.1 |
|  | 101.2<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; 64468 | &nbsp;&nbsp; 10858744 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10923212 |
| &nbsp;&nbsp;&nbsp; Other Countries | &nbsp;&nbsp; 331802635 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 331802635 |
| Preferred Stocks | &nbsp;&nbsp; 252691 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 252691 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 1471470 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1471470 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 |
| Short-Term Investments | &nbsp;&nbsp; 11355232 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 11355232 |
| **Total Investments at Value** | &nbsp;&nbsp; $344946496 | &nbsp;&nbsp; $10858744 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $355805240 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.0%** | **COMMON STOCKS — 99.0%** | **COMMON STOCKS — 99.0%** |
| **Australia — 5.7%** | **Australia — 5.7%** | **Australia — 5.7%** |
| &nbsp;&nbsp;&nbsp; APA Group | 117773 | &nbsp;&nbsp; $771081 |
| &nbsp;&nbsp;&nbsp; ASX, Ltd. | 2642 | &nbsp;&nbsp; 99574 |
| &nbsp;&nbsp;&nbsp; Brambles, Ltd. | 79984 | &nbsp;&nbsp; 1427569 |
| &nbsp;&nbsp;&nbsp; Cochlear, Ltd. | 1082 | &nbsp;&nbsp; 153239 |
| &nbsp;&nbsp;&nbsp; Coles Group, Ltd. | 29295 | &nbsp;&nbsp; 428631 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia | 7864 | &nbsp;&nbsp; 977246 |
| &nbsp;&nbsp;&nbsp; Computershare, Ltd. | 28543 | &nbsp;&nbsp; 629488 |
| &nbsp;&nbsp;&nbsp; CSL, Ltd. | 12759 | &nbsp;&nbsp; 1332573 |
| &nbsp;&nbsp;&nbsp; Evolution Mining, Ltd. | 99198 | &nbsp;&nbsp; 1170453 |
| &nbsp;&nbsp;&nbsp; Goodman Group | 62615 | &nbsp;&nbsp; 1289566 |
| &nbsp;&nbsp;&nbsp; Lynas Rare Earths, Ltd.† | 25379 | &nbsp;&nbsp; 342797 |
| &nbsp;&nbsp;&nbsp; Macquarie Group, Ltd. | 15631 | &nbsp;&nbsp; 2374709 |
| &nbsp;&nbsp;&nbsp; Medibank Private, Ltd. | 16248 | &nbsp;&nbsp; 50645 |
| &nbsp;&nbsp;&nbsp; Northern Star Resources, Ltd. | 106276 | &nbsp;&nbsp; 2290116 |
| &nbsp;&nbsp;&nbsp; Origin Energy, Ltd. | 73263 | &nbsp;&nbsp; 633472 |
| &nbsp;&nbsp;&nbsp; Pro Medicus, Ltd. | 457 | &nbsp;&nbsp; 42279 |
| &nbsp;&nbsp;&nbsp; Qantas Airways, Ltd. | 20794 | &nbsp;&nbsp; 147241 |
| &nbsp;&nbsp;&nbsp; QBE Insurance Group, Ltd. | 57944 | &nbsp;&nbsp; 896055 |
| &nbsp;&nbsp;&nbsp; Scentre Group | 272778 | &nbsp;&nbsp; 741548 |
| &nbsp;&nbsp;&nbsp; Sigma Healthcare, Ltd. | 233777 | &nbsp;&nbsp; 472483 |
| &nbsp;&nbsp;&nbsp; Sonic Healthcare, Ltd. | 50356 | &nbsp;&nbsp; 853968 |
| &nbsp;&nbsp;&nbsp; South32, Ltd. | 556397 | &nbsp;&nbsp; 1821416 |
| &nbsp;&nbsp;&nbsp; Stockland | 134404 | &nbsp;&nbsp; 488764 |
| &nbsp;&nbsp;&nbsp; Suncorp Group, Ltd. | 58934 | &nbsp;&nbsp; 613588 |
| &nbsp;&nbsp;&nbsp; Telstra Group, Ltd. | 30862 | &nbsp;&nbsp; 113768 |
| &nbsp;&nbsp;&nbsp; Transurban Group | 181398 | &nbsp;&nbsp; 1851178 |
| &nbsp;&nbsp;&nbsp; Vicinity, Ltd. | 260754 | &nbsp;&nbsp; 454636 |
| &nbsp;&nbsp;&nbsp; Washington H. Soul Pattinson & Co., Ltd. | 59244 | &nbsp;&nbsp; 1612658 |
| &nbsp;&nbsp;&nbsp; Wesfarmers, Ltd. | 33956 | &nbsp;&nbsp; 1924001 |
| &nbsp;&nbsp;&nbsp; Westpac Banking Corp. | 144143 | &nbsp;&nbsp; 4363727 |
| &nbsp;&nbsp;&nbsp; Woodside Energy Group, Ltd. | 103868 | &nbsp;&nbsp; 2092609 |
| &nbsp;&nbsp;&nbsp; Woolworths Group, Ltd. | 5466 | &nbsp;&nbsp; 140036 |
|  |  | &nbsp;&nbsp; 32601114 |
| **Austria — 0.8%** | **Austria — 0.8%** | **Austria — 0.8%** |
| &nbsp;&nbsp;&nbsp; Erste Group Bank AG | 15130 | &nbsp;&nbsp; 1800275 |
| &nbsp;&nbsp;&nbsp; OMV AG | 35906 | &nbsp;&nbsp; 2324974 |
| &nbsp;&nbsp;&nbsp; Raiffeisen Bank International AG | 3706 | &nbsp;&nbsp; 185057 |
| &nbsp;&nbsp;&nbsp; Verbund AG | 2542 | &nbsp;&nbsp; 181119 |
|  |  | &nbsp;&nbsp; 4491425 |
| **Belgium — 1.0%** | **Belgium — 1.0%** | **Belgium — 1.0%** |
| &nbsp;&nbsp;&nbsp; Ageas SA | 4006 | &nbsp;&nbsp; 297737 |
| &nbsp;&nbsp;&nbsp; D'ieteren Group | 2612 | &nbsp;&nbsp; 566035 |
| &nbsp;&nbsp;&nbsp; Elia Group SA | 898 | &nbsp;&nbsp; 143033 |
| &nbsp;&nbsp;&nbsp; Financiere de Tubize SA | 564 | &nbsp;&nbsp; 150945 |
| &nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert NV | 12784 | &nbsp;&nbsp; 1284729 |
| &nbsp;&nbsp;&nbsp; KBC Group NV | 15132 | &nbsp;&nbsp; 2052621 |
| &nbsp;&nbsp;&nbsp; Sofina SA | 422 | &nbsp;&nbsp; 125556 |
| &nbsp;&nbsp;&nbsp; Syensqo SA | 5684 | &nbsp;&nbsp; 324863 |
| &nbsp;&nbsp;&nbsp; UCB SA | 1488 | &nbsp;&nbsp; 443599 |
|  |  | &nbsp;&nbsp; 5389118 |
| **Bermuda — 0.1%** | **Bermuda — 0.1%** | **Bermuda — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aegon, Ltd. | 60528 | &nbsp;&nbsp; 460159 |
| &nbsp;&nbsp;&nbsp; CK Infrastructure Holdings, Ltd. | 12500 | &nbsp;&nbsp; 106172 |
| &nbsp;&nbsp;&nbsp; Hongkong Land Holdings, Ltd. | 21300 | &nbsp;&nbsp; 184671 |
|  |  | &nbsp;&nbsp; 751002 |
| **Denmark — 1.4%** | **Denmark — 1.4%** | **Denmark — 1.4%** |
| &nbsp;&nbsp;&nbsp; AP Moller-Maersk A/S, Series B | 599 | &nbsp;&nbsp; 1484807 |
| &nbsp;&nbsp;&nbsp; Coloplast A/S, Class B | 2853 | &nbsp;&nbsp; 220170 |
| &nbsp;&nbsp;&nbsp; Demant A/S† | 4073 | &nbsp;&nbsp; 126758 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Denmark (continued)** | **Denmark (continued)** | **Denmark (continued)** |
| &nbsp;&nbsp;&nbsp; DSV A/S | 8123 | &nbsp;&nbsp; $2100887 |
| &nbsp;&nbsp;&nbsp; Genmab A/S† | 3173 | &nbsp;&nbsp; 927524 |
| &nbsp;&nbsp;&nbsp; Novonesis (Novozymes), Class B | 12875 | &nbsp;&nbsp; 764527 |
| &nbsp;&nbsp;&nbsp; Orsted A/S\*† | 37395 | &nbsp;&nbsp; 887034 |
| &nbsp;&nbsp;&nbsp; Pandora A/S | 2357 | &nbsp;&nbsp; 186365 |
| &nbsp;&nbsp;&nbsp; ROCKWOOL A/S, Class B | 9823 | &nbsp;&nbsp; 325512 |
| &nbsp;&nbsp;&nbsp; Vestas Wind Systems A/S | 39375 | &nbsp;&nbsp; 1011523 |
|  |  | &nbsp;&nbsp; 8035107 |
| **Finland — 1.5%** | **Finland — 1.5%** | **Finland — 1.5%** |
| &nbsp;&nbsp;&nbsp; Elisa Oyj | 2995 | &nbsp;&nbsp; 153729 |
| &nbsp;&nbsp;&nbsp; Kesko Oyj, Class B | 9720 | &nbsp;&nbsp; 239580 |
| &nbsp;&nbsp;&nbsp; Kone Oyj, Class B | 8300 | &nbsp;&nbsp; 627862 |
| &nbsp;&nbsp;&nbsp; Metso Oyj | 9703 | &nbsp;&nbsp; 202989 |
| &nbsp;&nbsp;&nbsp; Neste Oyj | 31325 | &nbsp;&nbsp; 783949 |
| &nbsp;&nbsp;&nbsp; Nokia Oyj | 198789 | &nbsp;&nbsp; 1523021 |
| &nbsp;&nbsp;&nbsp; Nordea Bank Abp | 94264 | &nbsp;&nbsp; 1832240 |
| &nbsp;&nbsp;&nbsp; Orion Oyj, Class B | 12380 | &nbsp;&nbsp; 990330 |
| &nbsp;&nbsp;&nbsp; Sampo Oyj, Class A | 79532 | &nbsp;&nbsp; 882238 |
| &nbsp;&nbsp;&nbsp; UPM-Kymmene Oyj | 25250 | &nbsp;&nbsp; 804959 |
| &nbsp;&nbsp;&nbsp; Wartsila OYJ Abp | 7246 | &nbsp;&nbsp; 315933 |
|  |  | &nbsp;&nbsp; 8356830 |
| **France — 8.2%** | **France — 8.2%** | **France — 8.2%** |
| &nbsp;&nbsp;&nbsp; Accor SA | 8001 | &nbsp;&nbsp; 465703 |
| &nbsp;&nbsp;&nbsp; Aeroports de Paris SA | 2429 | &nbsp;&nbsp; 339821 |
| &nbsp;&nbsp;&nbsp; Air Liquide SA | 24588 | &nbsp;&nbsp; 5178439 |
| &nbsp;&nbsp;&nbsp; Alstom SA† | 24771 | &nbsp;&nbsp; 828032 |
| &nbsp;&nbsp;&nbsp; Amundi SA\* | 3485 | &nbsp;&nbsp; 333754 |
| &nbsp;&nbsp;&nbsp; AXA SA | 103012 | &nbsp;&nbsp; 5046469 |
| &nbsp;&nbsp;&nbsp; BioMerieux | 1580 | &nbsp;&nbsp; 186693 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | 6293 | &nbsp;&nbsp; 710120 |
| &nbsp;&nbsp;&nbsp; Bureau Veritas SA | 8771 | &nbsp;&nbsp; 304903 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | 8288 | &nbsp;&nbsp; 1047372 |
| &nbsp;&nbsp;&nbsp; Carrefour SA | 6535 | &nbsp;&nbsp; 123896 |
| &nbsp;&nbsp;&nbsp; Covivio SA | 3180 | &nbsp;&nbsp; 233528 |
| &nbsp;&nbsp;&nbsp; Credit Agricole SA | 109549 | &nbsp;&nbsp; 2431589 |
| &nbsp;&nbsp;&nbsp; Dassault Systemes SE | 34390 | &nbsp;&nbsp; 753783 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | 11099 | &nbsp;&nbsp; 1917352 |
| &nbsp;&nbsp;&nbsp; EssilorLuxottica SA | 11215 | &nbsp;&nbsp; 2984271 |
| &nbsp;&nbsp;&nbsp; Gecina SA | 2448 | &nbsp;&nbsp; 226921 |
| &nbsp;&nbsp;&nbsp; Getlink SE | 36038 | &nbsp;&nbsp; 784370 |
| &nbsp;&nbsp;&nbsp; Hermes International S.C.A. | 1564 | &nbsp;&nbsp; 3786598 |
| &nbsp;&nbsp;&nbsp; Ipsen SA | 8054 | &nbsp;&nbsp; 1571192 |
| &nbsp;&nbsp;&nbsp; Kering SA | 3895 | &nbsp;&nbsp; 1315807 |
| &nbsp;&nbsp;&nbsp; Klepierre SA | 16114 | &nbsp;&nbsp; 678216 |
| &nbsp;&nbsp;&nbsp; Legrand SA | 8364 | &nbsp;&nbsp; 1520485 |
| &nbsp;&nbsp;&nbsp; Orange SA | 68021 | &nbsp;&nbsp; 1461996 |
| &nbsp;&nbsp;&nbsp; Publicis Groupe SA | 14226 | &nbsp;&nbsp; 1267768 |
| &nbsp;&nbsp;&nbsp; Rexel SA | 16485 | &nbsp;&nbsp; 718179 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | 4948 | &nbsp;&nbsp; 480587 |
| &nbsp;&nbsp;&nbsp; Sartorius Stedim Biotech | 1538 | &nbsp;&nbsp; 332748 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | 19019 | &nbsp;&nbsp; 6218238 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | 36077 | &nbsp;&nbsp; 3148547 |
| &nbsp;&nbsp;&nbsp; Sodexo SA | 7791 | &nbsp;&nbsp; 427151 |
|  |  | &nbsp;&nbsp; 46824528 |
| **Germany — 8.9%** | **Germany — 8.9%** | **Germany — 8.9%** |
| &nbsp;&nbsp;&nbsp; adidas AG | 6662 | &nbsp;&nbsp; 1245322 |
| &nbsp;&nbsp;&nbsp; Allianz SE | 11586 | &nbsp;&nbsp; 5232325 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG | 21306 | &nbsp;&nbsp; 2252171 |
| &nbsp;&nbsp;&nbsp; Bayerische Motoren Werke AG (Preference Shares) | 7692 | &nbsp;&nbsp; 808000 |
| &nbsp;&nbsp;&nbsp; Beiersdorf AG | 15494 | &nbsp;&nbsp; 1970825 |
| &nbsp;&nbsp;&nbsp; Brenntag SE | 3761 | &nbsp;&nbsp; 232421 |

---

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
| &nbsp;&nbsp;&nbsp; Commerzbank AG | 37344 | &nbsp;&nbsp; $1528955 |
| &nbsp;&nbsp;&nbsp; Daimler Truck Holding AG | 25966 | &nbsp;&nbsp; 1320222 |
| &nbsp;&nbsp;&nbsp; Deutsche Boerse AG | 8463 | &nbsp;&nbsp; 2323973 |
| &nbsp;&nbsp;&nbsp; Deutsche Post AG | 10262 | &nbsp;&nbsp; 607492 |
| &nbsp;&nbsp;&nbsp; E.ON SE | 67180 | &nbsp;&nbsp; 1562196 |
| &nbsp;&nbsp;&nbsp; Evonik Industries AG | 26479 | &nbsp;&nbsp; 462743 |
| &nbsp;&nbsp;&nbsp; Fresenius Medical Care AG | 3034 | &nbsp;&nbsp; 141427 |
| &nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA | 13396 | &nbsp;&nbsp; 805682 |
| &nbsp;&nbsp;&nbsp; GEA Group AG | 6949 | &nbsp;&nbsp; 541101 |
| &nbsp;&nbsp;&nbsp; Hannover Rueck SE | 3725 | &nbsp;&nbsp; 1134697 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA | 4406 | &nbsp;&nbsp; 399570 |
| &nbsp;&nbsp;&nbsp; Henkel AG & Co. KGaA (Preference Shares) | 13219 | &nbsp;&nbsp; 1299236 |
| &nbsp;&nbsp;&nbsp; HOCHTIEF AG | 438 | &nbsp;&nbsp; 213537 |
| &nbsp;&nbsp;&nbsp; Infineon Technologies AG | 60409 | &nbsp;&nbsp; 3270956 |
| &nbsp;&nbsp;&nbsp; Knorr-Bremse AG | 1764 | &nbsp;&nbsp; 232404 |
| &nbsp;&nbsp;&nbsp; Merck KGaA | 11713 | &nbsp;&nbsp; 1775683 |
| &nbsp;&nbsp;&nbsp; Muenchener Rueckversicherungs-Gesellschaft AG | 5915 | &nbsp;&nbsp; 3883180 |
| &nbsp;&nbsp;&nbsp; RWE AG | 13738 | &nbsp;&nbsp; 885338 |
| &nbsp;&nbsp;&nbsp; SAP SE | 30575 | &nbsp;&nbsp; 6176344 |
| &nbsp;&nbsp;&nbsp; Sartorius AG (Preference Shares) | 1106 | &nbsp;&nbsp; 314036 |
| &nbsp;&nbsp;&nbsp; Siemens AG | 25411 | &nbsp;&nbsp; 7428343 |
| &nbsp;&nbsp;&nbsp; Siemens Healthineers AG\* | 21543 | &nbsp;&nbsp; 1072683 |
| &nbsp;&nbsp;&nbsp; Symrise AG | 5944 | &nbsp;&nbsp; 544878 |
| &nbsp;&nbsp;&nbsp; Vonovia SE | 25103 | &nbsp;&nbsp; 850994 |
| &nbsp;&nbsp;&nbsp; Zalando SE\*† | 12172 | &nbsp;&nbsp; 298436 |
|  |  | &nbsp;&nbsp; 50815170 |
| **Hong Kong — 2.7%** | **Hong Kong — 2.7%** | **Hong Kong — 2.7%** |
| &nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 351200 | &nbsp;&nbsp; 3896536 |
| &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings, Ltd. | 208000 | &nbsp;&nbsp; 1193752 |
| &nbsp;&nbsp;&nbsp; CK Asset Holdings, Ltd. | 161500 | &nbsp;&nbsp; 1027618 |
| &nbsp;&nbsp;&nbsp; Henderson Land Development Co., Ltd. | 140000 | &nbsp;&nbsp; 634200 |
| &nbsp;&nbsp;&nbsp; HKT Trust & HKT, Ltd. | 203000 | &nbsp;&nbsp; 320196 |
| &nbsp;&nbsp;&nbsp; Hong Kong & China Gas Co., Ltd. | 632000 | &nbsp;&nbsp; 614761 |
| &nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing, Ltd. | 34000 | &nbsp;&nbsp; 1820947 |
| &nbsp;&nbsp;&nbsp; Link REIT | 72400 | &nbsp;&nbsp; 358696 |
| &nbsp;&nbsp;&nbsp; MTR Corp., Ltd. | 81500 | &nbsp;&nbsp; 388988 |
| &nbsp;&nbsp;&nbsp; Power Assets Holdings, Ltd. | 68500 | &nbsp;&nbsp; 555555 |
| &nbsp;&nbsp;&nbsp; SITC International Holdings Co., Ltd. | 68000 | &nbsp;&nbsp; 290135 |
| &nbsp;&nbsp;&nbsp; Sun Hung Kai Properties, Ltd. | 79500 | &nbsp;&nbsp; 1483626 |
| &nbsp;&nbsp;&nbsp; Swire Pacific, Ltd., Class A | 59500 | &nbsp;&nbsp; 639994 |
| &nbsp;&nbsp;&nbsp; Techtronic Industries Co., Ltd. | 31000 | &nbsp;&nbsp; 505611 |
| &nbsp;&nbsp;&nbsp; WH Group, Ltd.\* | 1018500 | &nbsp;&nbsp; 1281034 |
| &nbsp;&nbsp;&nbsp; Wharf Holdings, Ltd. | 24000 | &nbsp;&nbsp; 79454 |
| &nbsp;&nbsp;&nbsp; Wharf Real Estate Investment Co., Ltd. | 85000 | &nbsp;&nbsp; 313994 |
|  |  | &nbsp;&nbsp; 15405097 |
| **Ireland — 0.6%** | **Ireland — 0.6%** | **Ireland — 0.6%** |
| &nbsp;&nbsp;&nbsp; AIB Group PLC | 62526 | &nbsp;&nbsp; 653844 |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC | 83479 | &nbsp;&nbsp; 1630993 |
| &nbsp;&nbsp;&nbsp; Kerry Group PLC, Class A | 10455 | &nbsp;&nbsp; 930228 |
| &nbsp;&nbsp;&nbsp; Kingspan Group PLC | 104 | &nbsp;&nbsp; 10366 |
|  |  | &nbsp;&nbsp; 3225431 |
| **Israel — 1.0%** | **Israel — 1.0%** | **Israel — 1.0%** |
| &nbsp;&nbsp;&nbsp; Bank Hapoalim BM | 71791 | &nbsp;&nbsp; 1810244 |
| &nbsp;&nbsp;&nbsp; Bank Leumi Le-Israel BM | 80179 | &nbsp;&nbsp; 1939336 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies, Ltd.† | 535 | &nbsp;&nbsp; 81357 |
| &nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.† | 20 | &nbsp;&nbsp; 900 |
| &nbsp;&nbsp;&nbsp; ICL Group, Ltd. | 46403 | &nbsp;&nbsp; 219380 |
| &nbsp;&nbsp;&nbsp; Israel Discount Bank, Ltd., Class A | 62143 | &nbsp;&nbsp; 752040 |
| &nbsp;&nbsp;&nbsp; Mizrahi Tefahot Bank, Ltd. | 8963 | &nbsp;&nbsp; 671238 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Israel (continued)** | **Israel (continued)** | **Israel (continued)** |
| &nbsp;&nbsp;&nbsp; Nice, Ltd.† | 1606 | &nbsp;&nbsp; $181999 |
| &nbsp;&nbsp;&nbsp; Tower Semiconductor, Ltd.† | 1332 | &nbsp;&nbsp; 168339 |
|  |  | &nbsp;&nbsp; 5824833 |
| **Italy — 3.4%** | **Italy — 3.4%** | **Italy — 3.4%** |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA | 9811 | &nbsp;&nbsp; 96196 |
| &nbsp;&nbsp;&nbsp; Banco BPM SpA | 73493 | &nbsp;&nbsp; 1088531 |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA | 72942 | &nbsp;&nbsp; 1035121 |
| &nbsp;&nbsp;&nbsp; Buzzi SpA | 2170 | &nbsp;&nbsp; 125588 |
| &nbsp;&nbsp;&nbsp; FinecoBank Banca Fineco SpA | 22561 | &nbsp;&nbsp; 532895 |
| &nbsp;&nbsp;&nbsp; Generali | 25898 | &nbsp;&nbsp; 1106535 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA | 604657 | &nbsp;&nbsp; 4168890 |
| &nbsp;&nbsp;&nbsp; Moncler SpA | 18302 | &nbsp;&nbsp; 1263803 |
| &nbsp;&nbsp;&nbsp; Poste Italiane SpA\* | 13350 | &nbsp;&nbsp; 358867 |
| &nbsp;&nbsp;&nbsp; Prysmian SpA | 8362 | &nbsp;&nbsp; 1012755 |
| &nbsp;&nbsp;&nbsp; Recordati Industria Chimica e Farmaceutica SpA | 18231 | &nbsp;&nbsp; 1043052 |
| &nbsp;&nbsp;&nbsp; Snam SpA | 59694 | &nbsp;&nbsp; 464822 |
| &nbsp;&nbsp;&nbsp; Telecom Italia SpA† | 498492 | &nbsp;&nbsp; 374733 |
| &nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | 119137 | &nbsp;&nbsp; 1435878 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA | 58714 | &nbsp;&nbsp; 5023550 |
|  |  | &nbsp;&nbsp; 19131216 |
| **Japan — 23.1%** | **Japan — 23.1%** | **Japan — 23.1%** |
| &nbsp;&nbsp;&nbsp; Advantest Corp. | 22800 | &nbsp;&nbsp; 3920085 |
| &nbsp;&nbsp;&nbsp; Aeon Co., Ltd. | 86100 | &nbsp;&nbsp; 1227558 |
| &nbsp;&nbsp;&nbsp; Aisin Corp. | 18000 | &nbsp;&nbsp; 320373 |
| &nbsp;&nbsp;&nbsp; Ajinomoto Co., Inc. | 37300 | &nbsp;&nbsp; 1186607 |
| &nbsp;&nbsp;&nbsp; Asahi Kasei Corp. | 22800 | &nbsp;&nbsp; 269296 |
| &nbsp;&nbsp;&nbsp; Asics Corp. | 14000 | &nbsp;&nbsp; 429776 |
| &nbsp;&nbsp;&nbsp; Astellas Pharma, Inc. | 105500 | &nbsp;&nbsp; 1757489 |
| &nbsp;&nbsp;&nbsp; Bandai Namco Holdings, Inc. | 12200 | &nbsp;&nbsp; 331552 |
| &nbsp;&nbsp;&nbsp; Canon, Inc. | 23000 | &nbsp;&nbsp; 701348 |
| &nbsp;&nbsp;&nbsp; Central Japan Railway Co. | 25900 | &nbsp;&nbsp; 764238 |
| &nbsp;&nbsp;&nbsp; Chiba Bank, Ltd. | 12400 | &nbsp;&nbsp; 184771 |
| &nbsp;&nbsp;&nbsp; Chubu Electric Power Co., Inc. | 5200 | &nbsp;&nbsp; 87824 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. | 24800 | &nbsp;&nbsp; 1660321 |
| &nbsp;&nbsp;&nbsp; Daifuku Co., Ltd. | 3200 | &nbsp;&nbsp; 132619 |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | 126800 | &nbsp;&nbsp; 1308070 |
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co., Ltd. | 56900 | &nbsp;&nbsp; 1116394 |
| &nbsp;&nbsp;&nbsp; Daikin Industries, Ltd. | 3200 | &nbsp;&nbsp; 408081 |
| &nbsp;&nbsp;&nbsp; Daiwa House Industry Co., Ltd. | 10000 | &nbsp;&nbsp; 361349 |
| &nbsp;&nbsp;&nbsp; Daiwa Securities Group, Inc. | 12200 | &nbsp;&nbsp; 128590 |
| &nbsp;&nbsp;&nbsp; Denso Corp. | 97900 | &nbsp;&nbsp; 1410527 |
| &nbsp;&nbsp;&nbsp; Disco Corp. | 2600 | &nbsp;&nbsp; 1257004 |
| &nbsp;&nbsp;&nbsp; East Japan Railway Co. | 35900 | &nbsp;&nbsp; 887356 |
| &nbsp;&nbsp;&nbsp; Ebara Corp. | 13000 | &nbsp;&nbsp; 461345 |
| &nbsp;&nbsp;&nbsp; Eisai Co., Ltd. | 20400 | &nbsp;&nbsp; 684637 |
| &nbsp;&nbsp;&nbsp; ENEOS Holdings, Inc. | 93000 | &nbsp;&nbsp; 886140 |
| &nbsp;&nbsp;&nbsp; FANUC Corp. | 36300 | &nbsp;&nbsp; 1653392 |
| &nbsp;&nbsp;&nbsp; Fast Retailing Co., Ltd. | 5800 | &nbsp;&nbsp; 2563788 |
| &nbsp;&nbsp;&nbsp; Fuji Electric Co., Ltd. | 1400 | &nbsp;&nbsp; 124701 |
| &nbsp;&nbsp;&nbsp; FUJIFILM Holdings Corp. | 30300 | &nbsp;&nbsp; 629419 |
| &nbsp;&nbsp;&nbsp; Fujikura, Ltd. | 8600 | &nbsp;&nbsp; 1473947 |
| &nbsp;&nbsp;&nbsp; Fujitsu, Ltd. | 52800 | &nbsp;&nbsp; 1213117 |
| &nbsp;&nbsp;&nbsp; Hoya Corp. | 9200 | &nbsp;&nbsp; 1665149 |
| &nbsp;&nbsp;&nbsp; Idemitsu Kosan Co., Ltd. | 185400 | &nbsp;&nbsp; 1770124 |
| &nbsp;&nbsp;&nbsp; Inpex Corp. | 83300 | &nbsp;&nbsp; 2026959 |
| &nbsp;&nbsp;&nbsp; Isuzu Motors, Ltd. | 62300 | &nbsp;&nbsp; 1164298 |
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. | 196500 | &nbsp;&nbsp; 2856306 |
| &nbsp;&nbsp;&nbsp; Japan Airlines Co., Ltd. | 700 | &nbsp;&nbsp; 14469 |
| &nbsp;&nbsp;&nbsp; Japan Exchange Group, Inc. | 900 | &nbsp;&nbsp; 12307 |
| &nbsp;&nbsp;&nbsp; Japan Post Bank Co., Ltd. | 53800 | &nbsp;&nbsp; 1054537 |
| &nbsp;&nbsp;&nbsp; Japan Post Holdings Co., Ltd. | 29700 | &nbsp;&nbsp; 387214 |

---

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; JFE Holdings, Inc. | 89900 | &nbsp;&nbsp; $1266769 |
| &nbsp;&nbsp;&nbsp; JX Advanced Metals Corp. | 15700 | &nbsp;&nbsp; 418124 |
| &nbsp;&nbsp;&nbsp; Kajima Corp. | 35100 | &nbsp;&nbsp; 1605252 |
| &nbsp;&nbsp;&nbsp; Kao Corp. | 20900 | &nbsp;&nbsp; 893200 |
| &nbsp;&nbsp;&nbsp; KDDI Corp. | 102100 | &nbsp;&nbsp; 1746288 |
| &nbsp;&nbsp;&nbsp; Keyence Corp. | 5800 | &nbsp;&nbsp; 2453482 |
| &nbsp;&nbsp;&nbsp; Kioxia Holdings Corp.† | 5300 | &nbsp;&nbsp; 719835 |
| &nbsp;&nbsp;&nbsp; Komatsu, Ltd. | 32000 | &nbsp;&nbsp; 1543598 |
| &nbsp;&nbsp;&nbsp; Kubota Corp. | 41700 | &nbsp;&nbsp; 848072 |
| &nbsp;&nbsp;&nbsp; Kyocera Corp. | 38700 | &nbsp;&nbsp; 684836 |
| &nbsp;&nbsp;&nbsp; Kyowa Kirin Co., Ltd. | 13400 | &nbsp;&nbsp; 247552 |
| &nbsp;&nbsp;&nbsp; Lasertec Corp. | 2200 | &nbsp;&nbsp; 474191 |
| &nbsp;&nbsp;&nbsp; M3, Inc. | 11900 | &nbsp;&nbsp; 130914 |
| &nbsp;&nbsp;&nbsp; Marubeni Corp. | 85200 | &nbsp;&nbsp; 3277825 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Chemical Group Corp. | 93200 | &nbsp;&nbsp; 692592 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Electric Corp. | 56900 | &nbsp;&nbsp; 2182870 |
| &nbsp;&nbsp;&nbsp; Mitsubishi Estate Co., Ltd. | 44600 | &nbsp;&nbsp; 1507372 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc. | 340900 | &nbsp;&nbsp; 6480080 |
| &nbsp;&nbsp;&nbsp; Mitsui Fudosan Co., Ltd. | 99700 | &nbsp;&nbsp; 1344847 |
| &nbsp;&nbsp;&nbsp; Mitsui OSK Lines, Ltd. | 10700 | &nbsp;&nbsp; 397263 |
| &nbsp;&nbsp;&nbsp; Mizuho Financial Group, Inc. | 78800 | &nbsp;&nbsp; 3608355 |
| &nbsp;&nbsp;&nbsp; MS&AD Insurance Group Holdings, Inc. | 53600 | &nbsp;&nbsp; 1501960 |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co., Ltd. | 68700 | &nbsp;&nbsp; 1807189 |
| &nbsp;&nbsp;&nbsp; NEC Corp. | 36700 | &nbsp;&nbsp; 1018524 |
| &nbsp;&nbsp;&nbsp; Nexon Co., Ltd. | 13000 | &nbsp;&nbsp; 276458 |
| &nbsp;&nbsp;&nbsp; NIDEC Corp. | 16700 | &nbsp;&nbsp; 263282 |
| &nbsp;&nbsp;&nbsp; Nintendo Co., Ltd. | 28600 | &nbsp;&nbsp; 1647341 |
| &nbsp;&nbsp;&nbsp; Nippon Paint Holdings Co., Ltd. | 18700 | &nbsp;&nbsp; 138545 |
| &nbsp;&nbsp;&nbsp; Nippon Steel Corp. | 24600 | &nbsp;&nbsp; 100186 |
| &nbsp;&nbsp;&nbsp; Nippon Yusen KK | 17400 | &nbsp;&nbsp; 598217 |
| &nbsp;&nbsp;&nbsp; Nitto Denko Corp. | 11400 | &nbsp;&nbsp; 265500 |
| &nbsp;&nbsp;&nbsp; Nomura Holdings, Inc. | 13700 | &nbsp;&nbsp; 127425 |
| &nbsp;&nbsp;&nbsp; Nomura Research Institute, Ltd. | 6900 | &nbsp;&nbsp; 192952 |
| &nbsp;&nbsp;&nbsp; NTT, Inc. | 100900 | &nbsp;&nbsp; 99049 |
| &nbsp;&nbsp;&nbsp; Obayashi Corp. | 25700 | &nbsp;&nbsp; 726739 |
| &nbsp;&nbsp;&nbsp; Olympus Corp. | 10000 | &nbsp;&nbsp; 97845 |
| &nbsp;&nbsp;&nbsp; Oriental Land Co., Ltd. | 8600 | &nbsp;&nbsp; 155077 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | 22100 | &nbsp;&nbsp; 784429 |
| &nbsp;&nbsp;&nbsp; Osaka Gas Co., Ltd. | 29500 | &nbsp;&nbsp; 1230890 |
| &nbsp;&nbsp;&nbsp; Otsuka Holdings Co., Ltd. | 20600 | &nbsp;&nbsp; 1412775 |
| &nbsp;&nbsp;&nbsp; Pan Pacific International Holdings Corp. | 36200 | &nbsp;&nbsp; 241078 |
| &nbsp;&nbsp;&nbsp; Panasonic Holdings Corp. | 8800 | &nbsp;&nbsp; 142962 |
| &nbsp;&nbsp;&nbsp; Rakuten Group, Inc.† | 43300 | &nbsp;&nbsp; 229608 |
| &nbsp;&nbsp;&nbsp; Recruit Holdings Co., Ltd. | 37500 | &nbsp;&nbsp; 1648737 |
| &nbsp;&nbsp;&nbsp; Renesas Electronics Corp. | 42600 | &nbsp;&nbsp; 809909 |
| &nbsp;&nbsp;&nbsp; Resona Holdings, Inc. | 68100 | &nbsp;&nbsp; 833126 |
| &nbsp;&nbsp;&nbsp; Ryohin Keikaku Co., Ltd. | 15000 | &nbsp;&nbsp; 345500 |
| &nbsp;&nbsp;&nbsp; Sanrio Co., Ltd. | 1300 | &nbsp;&nbsp; 47666 |
| &nbsp;&nbsp;&nbsp; SBI Holdings, Inc. | 16600 | &nbsp;&nbsp; 356098 |
| &nbsp;&nbsp;&nbsp; Seibu Holdings, Inc. | 5900 | &nbsp;&nbsp; 175302 |
| &nbsp;&nbsp;&nbsp; Seven & i Holdings Co., Ltd. | 49300 | &nbsp;&nbsp; 693101 |
| &nbsp;&nbsp;&nbsp; Shimano, Inc. | 700 | &nbsp;&nbsp; 75126 |
| &nbsp;&nbsp;&nbsp; Shin-Etsu Chemical Co., Ltd. | 50000 | &nbsp;&nbsp; 1974834 |
| &nbsp;&nbsp;&nbsp; Shionogi & Co., Ltd. | 44100 | &nbsp;&nbsp; 1034690 |
| &nbsp;&nbsp;&nbsp; Shiseido Co., Ltd. | 22900 | &nbsp;&nbsp; 483911 |
| &nbsp;&nbsp;&nbsp; SMC Corp. | 1600 | &nbsp;&nbsp; 772721 |
| &nbsp;&nbsp;&nbsp; SoftBank Corp. | 1092100 | &nbsp;&nbsp; 1495156 |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. | 106700 | &nbsp;&nbsp; 2793816 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings, Inc. | 26600 | &nbsp;&nbsp; 1063727 |
| &nbsp;&nbsp;&nbsp; Sony Financial Holdings, Inc.† | 37100 | &nbsp;&nbsp; 37987 |
| &nbsp;&nbsp;&nbsp; Sony Group Corp. | 141100 | &nbsp;&nbsp; 3291565 |
| &nbsp;&nbsp;&nbsp; Subaru Corp. | 58700 | &nbsp;&nbsp; 1115061 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | 59800 | &nbsp;&nbsp; $2551451 |
| &nbsp;&nbsp;&nbsp; Sumitomo Electric Industries, Ltd. | 26600 | &nbsp;&nbsp; 1767201 |
| &nbsp;&nbsp;&nbsp; Sumitomo Metal Mining Co., Ltd. | 7100 | &nbsp;&nbsp; 573992 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | 124500 | &nbsp;&nbsp; 4781011 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Trust Group, Inc. | 10400 | &nbsp;&nbsp; 365147 |
| &nbsp;&nbsp;&nbsp; Sumitomo Realty & Development Co., Ltd. | 9200 | &nbsp;&nbsp; 311527 |
| &nbsp;&nbsp;&nbsp; Suntory Beverage & Food, Ltd. | 11900 | &nbsp;&nbsp; 374683 |
| &nbsp;&nbsp;&nbsp; Suzuki Motor Corp. | 106300 | &nbsp;&nbsp; 1613576 |
| &nbsp;&nbsp;&nbsp; T&D Holdings, Inc. | 7500 | &nbsp;&nbsp; 202382 |
| &nbsp;&nbsp;&nbsp; Taisei Corp. | 1200 | &nbsp;&nbsp; 156296 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co., Ltd. | 46900 | &nbsp;&nbsp; 1747582 |
| &nbsp;&nbsp;&nbsp; TDK Corp. | 57800 | &nbsp;&nbsp; 897359 |
| &nbsp;&nbsp;&nbsp; Tokio Marine Holdings, Inc. | 65300 | &nbsp;&nbsp; 2729249 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron, Ltd. | 12900 | &nbsp;&nbsp; 3635443 |
| &nbsp;&nbsp;&nbsp; Tokyo Gas Co., Ltd. | 21500 | &nbsp;&nbsp; 1054039 |
| &nbsp;&nbsp;&nbsp; Toppan Holdings, Inc. | 600 | &nbsp;&nbsp; 20613 |
| &nbsp;&nbsp;&nbsp; Toray Industries, Inc. | 65700 | &nbsp;&nbsp; 563750 |
| &nbsp;&nbsp;&nbsp; Toyota Industries Corp. | 7700 | &nbsp;&nbsp; 997477 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | 24800 | &nbsp;&nbsp; 607434 |
| &nbsp;&nbsp;&nbsp; Tsuruha Holdings, Inc. | 7500 | &nbsp;&nbsp; 126069 |
| &nbsp;&nbsp;&nbsp; Unicharm Corp. | 31700 | &nbsp;&nbsp; 217098 |
| &nbsp;&nbsp;&nbsp; West Japan Railway Co. | 9600 | &nbsp;&nbsp; 206182 |
| &nbsp;&nbsp;&nbsp; Yamaha Motor Co., Ltd. | 113600 | &nbsp;&nbsp; 904203 |
|  |  | &nbsp;&nbsp; 131526222 |
| **Luxembourg — 0.7%** | **Luxembourg — 0.7%** | **Luxembourg — 0.7%** |
| &nbsp;&nbsp;&nbsp; Eurofins Scientific SE | 3690 | &nbsp;&nbsp; 297185 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 3706 | &nbsp;&nbsp; 1908367 |
| &nbsp;&nbsp;&nbsp; Tenaris SA | 60135 | &nbsp;&nbsp; 1642804 |
|  |  | &nbsp;&nbsp; 3848356 |
| **Netherlands — 7.6%** | **Netherlands — 7.6%** | **Netherlands — 7.6%** |
| &nbsp;&nbsp;&nbsp; ABN AMRO Bank NV CVA\* | 31505 | &nbsp;&nbsp; 1055738 |
| &nbsp;&nbsp;&nbsp; Adyen NV\*† | 747 | &nbsp;&nbsp; 878066 |
| &nbsp;&nbsp;&nbsp; AerCap Holdings NV | 1123 | &nbsp;&nbsp; 167821 |
| &nbsp;&nbsp;&nbsp; Akzo Nobel NV | 11652 | &nbsp;&nbsp; 820848 |
| &nbsp;&nbsp;&nbsp; Argenx SE† | 2142 | &nbsp;&nbsp; 1663871 |
| &nbsp;&nbsp;&nbsp; ASM International NV | 952 | &nbsp;&nbsp; 803392 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 11461 | &nbsp;&nbsp; 16703096 |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | 4415 | &nbsp;&nbsp; 320518 |
| &nbsp;&nbsp;&nbsp; BE Semiconductor Industries NV | 1430 | &nbsp;&nbsp; 320027 |
| &nbsp;&nbsp;&nbsp; CSG NV† | 15369 | &nbsp;&nbsp; 578033 |
| &nbsp;&nbsp;&nbsp; Euronext NV\* | 985 | &nbsp;&nbsp; 162943 |
| &nbsp;&nbsp;&nbsp; EXOR NV | 2671 | &nbsp;&nbsp; 234653 |
| &nbsp;&nbsp;&nbsp; Ferrari NV | 4185 | &nbsp;&nbsp; 1589322 |
| &nbsp;&nbsp;&nbsp; Ferrovial SE | 44502 | &nbsp;&nbsp; 3321178 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | 90671 | &nbsp;&nbsp; 2638781 |
| &nbsp;&nbsp;&nbsp; JDE Peet's NV | 34063 | &nbsp;&nbsp; 1275888 |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | 56194 | &nbsp;&nbsp; 2773479 |
| &nbsp;&nbsp;&nbsp; Koninklijke KPN NV | 146860 | &nbsp;&nbsp; 833117 |
| &nbsp;&nbsp;&nbsp; Nebius Group NV#† | 3203 | &nbsp;&nbsp; 292082 |
| &nbsp;&nbsp;&nbsp; NN Group NV | 17789 | &nbsp;&nbsp; 1456650 |
| &nbsp;&nbsp;&nbsp; Prosus NV | 51545 | &nbsp;&nbsp; 2650002 |
| &nbsp;&nbsp;&nbsp; QIAGEN NV | 4835 | &nbsp;&nbsp; 239719 |
| &nbsp;&nbsp;&nbsp; STMicroelectronics NV | 36153 | &nbsp;&nbsp; 1213629 |
| &nbsp;&nbsp;&nbsp; Universal Music Group NV | 25864 | &nbsp;&nbsp; 584019 |
| &nbsp;&nbsp;&nbsp; Wolters Kluwer NV | 7086 | &nbsp;&nbsp; 570189 |
|  |  | &nbsp;&nbsp; 43147061 |
| **New Zealand — 0.0%** | **New Zealand — 0.0%** | **New Zealand — 0.0%** |
| &nbsp;&nbsp;&nbsp; Auckland International Airport, Ltd. | 801 | &nbsp;&nbsp; 4401 |
| &nbsp;&nbsp;&nbsp; Meridian Energy, Ltd. | 77092 | &nbsp;&nbsp; 261739 |
|  |  | &nbsp;&nbsp; 266140 |

---

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Norway — 1.1%** | **Norway — 1.1%** | **Norway — 1.1%** |
| &nbsp;&nbsp;&nbsp; Aker BP ASA | 53557 | &nbsp;&nbsp; $1612067 |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | 25803 | &nbsp;&nbsp; 818191 |
| &nbsp;&nbsp;&nbsp; Equinor ASA | 32917 | &nbsp;&nbsp; 974877 |
| &nbsp;&nbsp;&nbsp; Mowi ASA | 38141 | &nbsp;&nbsp; 899342 |
| &nbsp;&nbsp;&nbsp; Orkla ASA | 63087 | &nbsp;&nbsp; 863206 |
| &nbsp;&nbsp;&nbsp; Telenor ASA | 30180 | &nbsp;&nbsp; 559588 |
| &nbsp;&nbsp;&nbsp; Yara International ASA | 6204 | &nbsp;&nbsp; 313648 |
|  |  | &nbsp;&nbsp; 6040919 |
| **Portugal — 0.8%** | **Portugal — 0.8%** | **Portugal — 0.8%** |
| &nbsp;&nbsp;&nbsp; EDP SA | 292190 | &nbsp;&nbsp; 1559157 |
| &nbsp;&nbsp;&nbsp; Galp Energia SGPS SA | 88298 | &nbsp;&nbsp; 1900946 |
| &nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS SA | 40329 | &nbsp;&nbsp; 1060750 |
|  |  | &nbsp;&nbsp; 4520853 |
| **Singapore — 2.0%** | **Singapore — 2.0%** | **Singapore — 2.0%** |
| &nbsp;&nbsp;&nbsp; CapitaLand Ascendas REIT | 23000 | &nbsp;&nbsp; 48913 |
| &nbsp;&nbsp;&nbsp; CapitaLand Integrated Commercial Trust | 174800 | &nbsp;&nbsp; 338572 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings, Ltd. | 86500 | &nbsp;&nbsp; 3906143 |
| &nbsp;&nbsp;&nbsp; Grab Holdings, Ltd., Class A† | 7640 | &nbsp;&nbsp; 32241 |
| &nbsp;&nbsp;&nbsp; Keppel, Ltd. | 46700 | &nbsp;&nbsp; 482912 |
| &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp., Ltd. | 170100 | &nbsp;&nbsp; 2881843 |
| &nbsp;&nbsp;&nbsp; Sea, Ltd. ADR† | 8019 | &nbsp;&nbsp; 869661 |
| &nbsp;&nbsp;&nbsp; Singapore Exchange, Ltd. | 24800 | &nbsp;&nbsp; 356834 |
| &nbsp;&nbsp;&nbsp; Singapore Telecommunications, Ltd. | 154300 | &nbsp;&nbsp; 614809 |
| &nbsp;&nbsp;&nbsp; United Overseas Bank, Ltd. | 48200 | &nbsp;&nbsp; 1408771 |
| &nbsp;&nbsp;&nbsp; Yangzijiang Shipbuilding Holdings, Ltd. | 113000 | &nbsp;&nbsp; 387714 |
|  |  | &nbsp;&nbsp; 11328413 |
| **Spain — 2.6%** | **Spain — 2.6%** | **Spain — 2.6%** |
| &nbsp;&nbsp;&nbsp; Acciona SA | 2024 | &nbsp;&nbsp; 590237 |
| &nbsp;&nbsp;&nbsp; ACS Actividades de Construccion y Servicios SA | 11040 | &nbsp;&nbsp; 1429717 |
| &nbsp;&nbsp;&nbsp; Aena SME SA\* | 81891 | &nbsp;&nbsp; 2580654 |
| &nbsp;&nbsp;&nbsp; Amadeus IT Group SA | 22347 | &nbsp;&nbsp; 1392611 |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA | 554036 | &nbsp;&nbsp; 2100114 |
| &nbsp;&nbsp;&nbsp; Bankinter SA | 80192 | &nbsp;&nbsp; 1343150 |
| &nbsp;&nbsp;&nbsp; CaixaBank SA | 235766 | &nbsp;&nbsp; 2930674 |
| &nbsp;&nbsp;&nbsp; Cellnex Telecom SA\* | 20733 | &nbsp;&nbsp; 787369 |
| &nbsp;&nbsp;&nbsp; Grifols SA | 8917 | &nbsp;&nbsp; 112001 |
| &nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA | 182065 | &nbsp;&nbsp; 1038208 |
| &nbsp;&nbsp;&nbsp; Mapfre SA | 26024 | &nbsp;&nbsp; 121462 |
| &nbsp;&nbsp;&nbsp; Repsol SA | 5474 | &nbsp;&nbsp; 122991 |
|  |  | &nbsp;&nbsp; 14549188 |
| **SupraNational — 0.1%** | **SupraNational — 0.1%** | **SupraNational — 0.1%** |
| &nbsp;&nbsp;&nbsp; Unibail-Rodamco-Westfield | 5709 | &nbsp;&nbsp; 716062 |
| **Sweden — 3.5%** | **Sweden — 3.5%** | **Sweden — 3.5%** |
| &nbsp;&nbsp;&nbsp; AddTech AB, Class B | 1514 | &nbsp;&nbsp; 56115 |
| &nbsp;&nbsp;&nbsp; Alfa Laval AB | 4040 | &nbsp;&nbsp; 239421 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class A | 103690 | &nbsp;&nbsp; 2240323 |
| &nbsp;&nbsp;&nbsp; Atlas Copco AB, Class B | 46706 | &nbsp;&nbsp; 878751 |
| &nbsp;&nbsp;&nbsp; Boliden AB† | 35100 | &nbsp;&nbsp; 2789306 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, Class A | 12571 | &nbsp;&nbsp; 378623 |
| &nbsp;&nbsp;&nbsp; Epiroc AB, Class B | 33990 | &nbsp;&nbsp; 884803 |
| &nbsp;&nbsp;&nbsp; EQT AB | 9683 | &nbsp;&nbsp; 300435 |
| &nbsp;&nbsp;&nbsp; Essity AB, Class B | 29389 | &nbsp;&nbsp; 935294 |
| &nbsp;&nbsp;&nbsp; Hexagon AB, Class B | 60210 | &nbsp;&nbsp; 686296 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, Class A | 1908 | &nbsp;&nbsp; 108741 |
| &nbsp;&nbsp;&nbsp; Industrivarden AB, Class C | 4681 | &nbsp;&nbsp; 265379 |
| &nbsp;&nbsp;&nbsp; Investor AB, Class B | 65997 | &nbsp;&nbsp; 2761572 |
| &nbsp;&nbsp;&nbsp; Sandvik AB | 46829 | &nbsp;&nbsp; 2071813 |
| &nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken AB, Class A | 84198 | &nbsp;&nbsp; 1798194 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
| &nbsp;&nbsp;&nbsp; Skanska AB, Class B | 3796 | &nbsp;&nbsp; $116896 |
| &nbsp;&nbsp;&nbsp; SKF AB, Class B | 3865 | &nbsp;&nbsp; 111143 |
| &nbsp;&nbsp;&nbsp; Svenska Handelsbanken AB, Class A | 64567 | &nbsp;&nbsp; 1034205 |
| &nbsp;&nbsp;&nbsp; Tele2 AB, Class B | 6335 | &nbsp;&nbsp; 133892 |
| &nbsp;&nbsp;&nbsp; Telia Co. AB | 24928 | &nbsp;&nbsp; 128014 |
| &nbsp;&nbsp;&nbsp; Volvo AB, Class B | 47659 | &nbsp;&nbsp; 1857242 |
|  |  | &nbsp;&nbsp; 19776458 |
| **Switzerland — 9.8%** | **Switzerland — 9.8%** | **Switzerland — 9.8%** |
| &nbsp;&nbsp;&nbsp; ABB, Ltd. | 73912 | &nbsp;&nbsp; 6904285 |
| &nbsp;&nbsp;&nbsp; Alcon AG | 24295 | &nbsp;&nbsp; 2112719 |
| &nbsp;&nbsp;&nbsp; Barry Callebaut AG | 150 | &nbsp;&nbsp; 281915 |
| &nbsp;&nbsp;&nbsp; Belimo Holding AG | 214 | &nbsp;&nbsp; 214877 |
| &nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG | 2 | &nbsp;&nbsp; 329843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chocoladefabriken Lindt & Spruengli AG (Participation <br> Certificate)<br>| 28 | &nbsp;&nbsp; 461052 |
| &nbsp;&nbsp;&nbsp; Coca-Cola HBC AG | 19571 | &nbsp;&nbsp; 1268631 |
| &nbsp;&nbsp;&nbsp; DSM-Firmenich AG | 9365 | &nbsp;&nbsp; 668810 |
| &nbsp;&nbsp;&nbsp; EMS-Chemie Holding AG | 1497 | &nbsp;&nbsp; 1244174 |
| &nbsp;&nbsp;&nbsp; Galderma Group AG | 4441 | &nbsp;&nbsp; 842742 |
| &nbsp;&nbsp;&nbsp; Geberit AG | 811 | &nbsp;&nbsp; 683525 |
| &nbsp;&nbsp;&nbsp; Givaudan SA | 539 | &nbsp;&nbsp; 2167637 |
| &nbsp;&nbsp;&nbsp; Helvetia Holding AG | 3551 | &nbsp;&nbsp; 923717 |
| &nbsp;&nbsp;&nbsp; Holcim AG | 15132 | &nbsp;&nbsp; 1395014 |
| &nbsp;&nbsp;&nbsp; Julius Baer Group, Ltd. | 5886 | &nbsp;&nbsp; 502207 |
| &nbsp;&nbsp;&nbsp; Kuehne & Nagel International AG | 3998 | &nbsp;&nbsp; 932615 |
| &nbsp;&nbsp;&nbsp; Logitech International SA | 8302 | &nbsp;&nbsp; 764926 |
| &nbsp;&nbsp;&nbsp; Lonza Group AG | 2133 | &nbsp;&nbsp; 1487565 |
| &nbsp;&nbsp;&nbsp; Novartis AG | 66584 | &nbsp;&nbsp; 11301570 |
| &nbsp;&nbsp;&nbsp; Partners Group Holding AG | 1568 | &nbsp;&nbsp; 1748590 |
| &nbsp;&nbsp;&nbsp; Sandoz Group AG | 15641 | &nbsp;&nbsp; 1383756 |
| &nbsp;&nbsp;&nbsp; Schindler Holding AG | 334 | &nbsp;&nbsp; 122288 |
| &nbsp;&nbsp;&nbsp; Schindler Holding AG (Participation Certificate) | 5222 | &nbsp;&nbsp; 1994120 |
| &nbsp;&nbsp;&nbsp; SGS SA | 11982 | &nbsp;&nbsp; 1511678 |
| &nbsp;&nbsp;&nbsp; Sika AG | 8010 | &nbsp;&nbsp; 1661696 |
| &nbsp;&nbsp;&nbsp; Sonova Holding AG | 2558 | &nbsp;&nbsp; 671731 |
| &nbsp;&nbsp;&nbsp; Straumann Holding AG | 5868 | &nbsp;&nbsp; 706740 |
| &nbsp;&nbsp;&nbsp; Swatch Group AG | 4163 | &nbsp;&nbsp; 1065589 |
| &nbsp;&nbsp;&nbsp; Swiss Life Holding AG | 1350 | &nbsp;&nbsp; 1547623 |
| &nbsp;&nbsp;&nbsp; Swiss Prime Site AG | 6256 | &nbsp;&nbsp; 1193673 |
| &nbsp;&nbsp;&nbsp; Swiss Re AG | 13769 | &nbsp;&nbsp; 2434669 |
| &nbsp;&nbsp;&nbsp; Swisscom AG | 1000 | &nbsp;&nbsp; 938414 |
| &nbsp;&nbsp;&nbsp; VAT Group AG\* | 1072 | &nbsp;&nbsp; 758773 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | 4583 | &nbsp;&nbsp; 3460870 |
|  |  | &nbsp;&nbsp; 55688034 |
| **United Kingdom — 12.4%** | **United Kingdom — 12.4%** | **United Kingdom — 12.4%** |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | 38626 | &nbsp;&nbsp; 1729246 |
| &nbsp;&nbsp;&nbsp; Admiral Group PLC | 9707 | &nbsp;&nbsp; 387740 |
| &nbsp;&nbsp;&nbsp; Anglo American PLC | 13400 | &nbsp;&nbsp; 668346 |
| &nbsp;&nbsp;&nbsp; Antofagasta PLC | 56000 | &nbsp;&nbsp; 3220993 |
| &nbsp;&nbsp;&nbsp; Ashtead Group PLC | 23641 | &nbsp;&nbsp; 1696854 |
| &nbsp;&nbsp;&nbsp; Associated British Foods PLC | 33977 | &nbsp;&nbsp; 905251 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC | 53924 | &nbsp;&nbsp; 11294483 |
| &nbsp;&nbsp;&nbsp; Auto Trader Group PLC\* | 40872 | &nbsp;&nbsp; 271495 |
| &nbsp;&nbsp;&nbsp; Aviva PLC | 272430 | &nbsp;&nbsp; 2518584 |
| &nbsp;&nbsp;&nbsp; Barratt Redrow PLC | 73975 | &nbsp;&nbsp; 363977 |
| &nbsp;&nbsp;&nbsp; Bunzl PLC | 36752 | &nbsp;&nbsp; 1086663 |
| &nbsp;&nbsp;&nbsp; Centrica PLC | 471021 | &nbsp;&nbsp; 1264148 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC | 1865 | &nbsp;&nbsp; 205952 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC | 98381 | &nbsp;&nbsp; 3020246 |
| &nbsp;&nbsp;&nbsp; Endeavour Mining PLC | 5437 | &nbsp;&nbsp; 387608 |
| &nbsp;&nbsp;&nbsp; Fresnillo PLC | 16584 | &nbsp;&nbsp; 947616 |

---

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp;&nbsp; GSK PLC | 20881 | &nbsp;&nbsp; $619368 |
| &nbsp;&nbsp;&nbsp; Haleon PLC | 298408 | &nbsp;&nbsp; 1631522 |
| &nbsp;&nbsp;&nbsp; Halma PLC | 31063 | &nbsp;&nbsp; 1751509 |
| &nbsp;&nbsp;&nbsp; Informa PLC | 114123 | &nbsp;&nbsp; 1289134 |
| &nbsp;&nbsp;&nbsp; InterContinental Hotels Group PLC | 13100 | &nbsp;&nbsp; 1801250 |
| &nbsp;&nbsp;&nbsp; Intertek Group PLC | 13487 | &nbsp;&nbsp; 858260 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | 344064 | &nbsp;&nbsp; 380123 |
| &nbsp;&nbsp;&nbsp; Kingfisher PLC | 232688 | &nbsp;&nbsp; 1161822 |
| &nbsp;&nbsp;&nbsp; Land Securities Group PLC | 97015 | &nbsp;&nbsp; 845249 |
| &nbsp;&nbsp;&nbsp; Legal & General Group PLC | 443375 | &nbsp;&nbsp; 1621057 |
| &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | 19956 | &nbsp;&nbsp; 2382784 |
| &nbsp;&nbsp;&nbsp; M&G PLC | 220155 | &nbsp;&nbsp; 942591 |
| &nbsp;&nbsp;&nbsp; Marks & Spencer Group PLC | 99158 | &nbsp;&nbsp; 529844 |
| &nbsp;&nbsp;&nbsp; National Grid PLC | 257410 | &nbsp;&nbsp; 4825362 |
| &nbsp;&nbsp;&nbsp; Pearson PLC | 66907 | &nbsp;&nbsp; 865425 |
| &nbsp;&nbsp;&nbsp; Prudential PLC | 161810 | &nbsp;&nbsp; 2480471 |
| &nbsp;&nbsp;&nbsp; RELX PLC† | 63593 | &nbsp;&nbsp; 2214518 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | 193090 | &nbsp;&nbsp; 1187114 |
| &nbsp;&nbsp;&nbsp; Sage Group PLC | 57507 | &nbsp;&nbsp; 636890 |
| &nbsp;&nbsp;&nbsp; Schroders PLC | 155152 | &nbsp;&nbsp; 1225272 |
| &nbsp;&nbsp;&nbsp; Segro PLC | 90738 | &nbsp;&nbsp; 1028646 |
| &nbsp;&nbsp;&nbsp; Severn Trent PLC | 2662 | &nbsp;&nbsp; 117668 |
| &nbsp;&nbsp;&nbsp; Smith & Nephew PLC | 77326 | &nbsp;&nbsp; 1429219 |
| &nbsp;&nbsp;&nbsp; Smiths Group PLC | 46446 | &nbsp;&nbsp; 1718803 |
| &nbsp;&nbsp;&nbsp; Spirax Group PLC | 5596 | &nbsp;&nbsp; 596152 |
| &nbsp;&nbsp;&nbsp; SSE PLC | 85045 | &nbsp;&nbsp; 3081889 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC | 18243 | &nbsp;&nbsp; 450401 |
| &nbsp;&nbsp;&nbsp; Standard Life PLC | 126522 | &nbsp;&nbsp; 1307792 |
| &nbsp;&nbsp;&nbsp; United Utilities Group PLC | 10628 | &nbsp;&nbsp; 199517 |
| &nbsp;&nbsp;&nbsp; Whitbread PLC | 30845 | &nbsp;&nbsp; 1080775 |
| &nbsp;&nbsp;&nbsp; Wise PLC, Class A† | 17608 | &nbsp;&nbsp; 204192 |
|  |  | &nbsp;&nbsp; 70433821 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $373,028,566)<br>|  | &nbsp;&nbsp; 562692398 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class 3.63%(1)<br>| 1102805 | &nbsp;&nbsp; $1102805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio 3.69%(1)(2)<br>| 342721 | &nbsp;&nbsp; 342721 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $1,445,526)<br>|  | &nbsp;&nbsp; 1445526 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $374,474,092)<br>| 99.3<br> %<br>| &nbsp;&nbsp; 564137924 |
| Other assets less liabilities | 0.7 | &nbsp;&nbsp; 4225713 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $568363637 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The International Socially Responsible Fund has no right to demand <br> registration of these securities. At February 28, 2026, the aggregate value of these <br> securities was $10,726,846 representing 1.9% of net assets.<br>|
| # | The security or a portion thereof is out on loan. |
| (1) | The rate shown is the 7-day yield as of February 28, 2026. |
| (2) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $292,082. <br> This was secured by collateral of $342,721, which was received in cash and <br> subsequently invested in short-term investments currently valued at $342,721 as <br> reported in the Portfolio of Investments.<br>|

---

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

ADR—American Depositary Receipt <br> ASX—Australian Stock Exchange <br> CVA—Certification Van Aandelen (Dutch Cert.)

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | **Pay/** <br>**Receive**<br>| &nbsp;&nbsp; **Underlying** <br>**Reference**<br>| **Number of** <br>**Contracts**<br>| **Financing** <br>**Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Notional** <br>**Amount**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value** |
| **Spain** |  |  |  |  |  |  |  |  |  |
| HSBC Holdings | Pay | Redeia Corp. SA | &nbsp;&nbsp; 11724 | 2.38% (ESTR + 0.45%) | Monthly | &nbsp;&nbsp; 02/10/2028 | &nbsp;&nbsp; $211223 | &nbsp;&nbsp; $6687 | &nbsp;&nbsp; $6687 |
| **Hong Kong** |  |  |  |  |  |  |  |  |  |
| BNP Paribas | Pay | &nbsp;&nbsp; Hong Kong Exchanges & <br> Clearing, Ltd.<br>| &nbsp;&nbsp; 5800 | 2.10% (HONIA + 0.30%) | Monthly | &nbsp;&nbsp; 05/24/2027 | &nbsp;&nbsp; 303390 | &nbsp;&nbsp; 7242 | &nbsp;&nbsp; 7242 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; $13929 | &nbsp;&nbsp; $13929 |
| ESTR—Euro Short-Term Rate |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; HONIA—Hong Kong Overnight <br> Index Average<br>|  |  |  |  |  |  |  |  |  |

---

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 30 | Long | Euro STOXX 50 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $2155016 | &nbsp;&nbsp;&nbsp;&nbsp; $2181115 | &nbsp;&nbsp;&nbsp;&nbsp; $26099 |
| 9 | Long | FTSE 100 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1285937 | &nbsp;&nbsp;&nbsp;&nbsp; 1322773 | &nbsp;&nbsp;&nbsp;&nbsp; 36836 |
| 6 | Long | SGX Nikkei 225 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1104031 | &nbsp;&nbsp;&nbsp;&nbsp; 1134954 | &nbsp;&nbsp;&nbsp;&nbsp; 30923 |
| 7 | Long | SPI 200 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1113329 | &nbsp;&nbsp;&nbsp;&nbsp; 1142020 | &nbsp;&nbsp;&nbsp;&nbsp; 28691 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $122549 |

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | 14.4<br> %<br>|
| Insurance | 9.1 |
| Pharmaceuticals | 7.4 |
| Semiconductors | 5.7 |
| Electrical Components & Equipment | 3.1 |
| Chemicals | 2.9 |
| Electric | 2.7 |
| Mining | 2.7 |
| Commercial Services | 2.7 |
| Oil & Gas | 2.6 |
| Engineering & Construction | 2.5 |
| Food | 2.5 |
| Telecommunications | 2.4 |
| Machinery-Diversified | 2.2 |
| Auto Manufacturers | 2.1 |
| Retail | 2.1 |
| Distribution/Wholesale | 2.0 |
| Diversified Financial Services | 1.8 |
| Healthcare-Products | 1.8 |
| Transportation | 1.8 |
| Miscellaneous Manufacturing | 1.7 |
| Real Estate | 1.7 |
| Software | 1.5 |
| Electronics | 1.3 |
| REITS | 1.2 |
| Building Materials | 1.2 |
| Apparel | 1.2 |
| Cosmetics/Personal Care | 1.1 |
| Investment Companies | 1.0 |
| Machinery-Construction & Mining | 1.0 |
| Internet | 0.9 |
| Auto Parts & Equipment | 0.9 |
| Computers | 0.7 |
| Biotechnology | 0.7 |
| Private Equity | 0.7 |
| Healthcare-Services | 0.7 |
| Gas | 0.6 |
| Food Service | 0.6 |
| Home Furnishings | 0.6 |
| Lodging | 0.6 |
| Beverages | 0.5 |
| Hand/Machine Tools | 0.5 |
| Leisure Time | 0.5 |
| Metal Fabricate/Hardware | 0.4 |
| Media | 0.4 |
| Toys/Games/Hobbies | 0.4 |
| Household Products/Wares | 0.3 |
| Short-Term Investments | 0.3 |
| Iron/Steel | 0.2 |
| Advertising | 0.2 |
| Airlines | 0.2 |
| Energy-Alternate Sources | 0.2 |
| Home Builders | 0.2 |

---

------

**VALIC Company I International Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Forest Products & Paper | 0.1<br> %<br>|
| Pipelines | 0.1 |
| Entertainment | 0.1 |
| Office/Business Equipment | 0.1 |
| Aerospace/Defense | 0.1 |
| Shipbuilding | 0.1 |
|  | 99.3<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $562692398 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $562692398 |
| Short-Term Investments | &nbsp;&nbsp; 1445526 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1445526 |
| **Total Investments at Value** | &nbsp;&nbsp; $564137924 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $564137924 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13929 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13929 |
| Futures Contracts | &nbsp;&nbsp; 122549 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 122549 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $122549 | &nbsp;&nbsp; $13929 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $136478 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I International Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** | **COMMON STOCKS — 97.5%** |
| **Australia — 2.0%** | **Australia — 2.0%** | **Australia — 2.0%** |
| &nbsp;&nbsp;&nbsp; Northern Star Resources, Ltd. | 241367 | &nbsp;&nbsp; $5201161 |
| &nbsp;&nbsp;&nbsp; Paladin Energy, Ltd.† | 259208 | &nbsp;&nbsp; 2469992 |
| &nbsp;&nbsp;&nbsp; Santos, Ltd. | 340699 | &nbsp;&nbsp; 1639019 |
| &nbsp;&nbsp;&nbsp; Whitehaven Coal, Ltd. | 123946 | &nbsp;&nbsp; 688890 |
|  |  | &nbsp;&nbsp; 9999062 |
| **Belgium — 0.2%** | **Belgium — 0.2%** | **Belgium — 0.2%** |
| &nbsp;&nbsp;&nbsp; Galapagos NV ADR† | 26834 | &nbsp;&nbsp; 903232 |
| **Brazil — 0.7%** | **Brazil — 0.7%** | **Brazil — 0.7%** |
| &nbsp;&nbsp;&nbsp; Banco do Brasil SA | 589567 | &nbsp;&nbsp; 3099352 |
| &nbsp;&nbsp;&nbsp; Cosan SA† | 609129 | &nbsp;&nbsp; 747376 |
|  |  | &nbsp;&nbsp; 3846728 |
| **Canada — 2.5%** | **Canada — 2.5%** | **Canada — 2.5%** |
| &nbsp;&nbsp;&nbsp; Energy Fuels, Inc.† | 68047 | &nbsp;&nbsp; 1450762 |
| &nbsp;&nbsp;&nbsp; Finning International, Inc. | 31334 | &nbsp;&nbsp; 2112441 |
| &nbsp;&nbsp;&nbsp; NexGen Energy, Ltd.† | 123796 | &nbsp;&nbsp; 1582113 |
| &nbsp;&nbsp;&nbsp; Nutrien, Ltd. | 19010 | &nbsp;&nbsp; 1427081 |
| &nbsp;&nbsp;&nbsp; Pan American Silver Corp. | 29037 | &nbsp;&nbsp; 1994842 |
| &nbsp;&nbsp;&nbsp; Teck Resources, Ltd., Class B | 41364 | &nbsp;&nbsp; 2435926 |
| &nbsp;&nbsp;&nbsp; Vermilion Energy, Inc. | 169859 | &nbsp;&nbsp; 1829381 |
|  |  | &nbsp;&nbsp; 12832546 |
| **China — 0.8%** | **China — 0.8%** | **China — 0.8%** |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China, Ltd. | 473500 | &nbsp;&nbsp; 4115602 |
| **Finland — 0.5%** | **Finland — 0.5%** | **Finland — 0.5%** |
| &nbsp;&nbsp;&nbsp; UPM-Kymmene Oyj | 80361 | &nbsp;&nbsp; 2561874 |
| **France — 12.2%** | **France — 12.2%** | **France — 12.2%** |
| &nbsp;&nbsp;&nbsp; Accor SA | 85106 | &nbsp;&nbsp; 4953648 |
| &nbsp;&nbsp;&nbsp; AXA SA | 126951 | &nbsp;&nbsp; 6219221 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA | 88809 | &nbsp;&nbsp; 10021457 |
| &nbsp;&nbsp;&nbsp; Capgemini SE | 23546 | &nbsp;&nbsp; 2975558 |
| &nbsp;&nbsp;&nbsp; Cie de Saint-Gobain SA | 6256 | &nbsp;&nbsp; 637494 |
| &nbsp;&nbsp;&nbsp; Eiffage SA | 9174 | &nbsp;&nbsp; 1584808 |
| &nbsp;&nbsp;&nbsp; Orange SA | 244265 | &nbsp;&nbsp; 5250062 |
| &nbsp;&nbsp;&nbsp; Sanofi SA | 38958 | &nbsp;&nbsp; 3783894 |
| &nbsp;&nbsp;&nbsp; Schneider Electric SE | 23561 | &nbsp;&nbsp; 7703240 |
| &nbsp;&nbsp;&nbsp; Societe Generale SA | 31520 | &nbsp;&nbsp; 2750845 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE | 161536 | &nbsp;&nbsp; 12841798 |
| &nbsp;&nbsp;&nbsp; Vinci SA | 23807 | &nbsp;&nbsp; 3959347 |
|  |  | &nbsp;&nbsp; 62681372 |
| **Germany — 5.3%** | **Germany — 5.3%** | **Germany — 5.3%** |
| &nbsp;&nbsp;&nbsp; Allianz SE | 10165 | &nbsp;&nbsp; 4590591 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom AG | 175672 | &nbsp;&nbsp; 7076200 |
| &nbsp;&nbsp;&nbsp; Duerr AG | 38791 | &nbsp;&nbsp; 1120677 |
| &nbsp;&nbsp;&nbsp; E.ON SE | 118165 | &nbsp;&nbsp; 2747796 |
| &nbsp;&nbsp;&nbsp; Fresenius Medical Care AG | 51249 | &nbsp;&nbsp; 2388927 |
| &nbsp;&nbsp;&nbsp; KION Group AG | 24752 | &nbsp;&nbsp; 1696324 |
| &nbsp;&nbsp;&nbsp; Siemens AG | 25054 | &nbsp;&nbsp; 7323982 |
|  |  | &nbsp;&nbsp; 26944497 |
| **Greece — 0.9%** | **Greece — 0.9%** | **Greece — 0.9%** |
| &nbsp;&nbsp;&nbsp; Piraeus Bank SA | 456714 | &nbsp;&nbsp; 4381985 |
| **Guernsey — 0.2%** | **Guernsey — 0.2%** | **Guernsey — 0.2%** |
| &nbsp;&nbsp;&nbsp; Burford Capital, Ltd. | 132905 | &nbsp;&nbsp; 1121718 |
| **Hong Kong — 2.2%** | **Hong Kong — 2.2%** | **Hong Kong — 2.2%** |
| &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings, Ltd. | 646000 | &nbsp;&nbsp; 3707519 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
| &nbsp;&nbsp;&nbsp; Sun Hung Kai Properties, Ltd. | 204000 | &nbsp;&nbsp; $3807040 |
| &nbsp;&nbsp;&nbsp; WH Group, Ltd.\* | 3036402 | &nbsp;&nbsp; 3819081 |
|  |  | &nbsp;&nbsp; 11333640 |
| **Ireland — 1.6%** | **Ireland — 1.6%** | **Ireland — 1.6%** |
| &nbsp;&nbsp;&nbsp; Bank of Ireland Group PLC | 244204 | &nbsp;&nbsp; 4771199 |
| &nbsp;&nbsp;&nbsp; Flutter Entertainment PLC† | 7830 | &nbsp;&nbsp; 831076 |
| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC† | 8181 | &nbsp;&nbsp; 1554553 |
| &nbsp;&nbsp;&nbsp; Smurfit WestRock PLC | 26776 | &nbsp;&nbsp; 1258740 |
|  |  | &nbsp;&nbsp; 8415568 |
| **Israel — 0.7%** | **Israel — 0.7%** | **Israel — 0.7%** |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies, Ltd.† | 22273 | &nbsp;&nbsp; 3387055 |
| **Italy — 2.8%** | **Italy — 2.8%** | **Italy — 2.8%** |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA | 331262 | &nbsp;&nbsp; 4700945 |
| &nbsp;&nbsp;&nbsp; Buzzi SpA | 26711 | &nbsp;&nbsp; 1545893 |
| &nbsp;&nbsp;&nbsp; Enel SpA | 548199 | &nbsp;&nbsp; 6603184 |
| &nbsp;&nbsp;&nbsp; PRADA SpA | 309600 | &nbsp;&nbsp; 1761025 |
|  |  | &nbsp;&nbsp; 14611047 |
| **Japan — 18.6%** | **Japan — 18.6%** | **Japan — 18.6%** |
| &nbsp;&nbsp;&nbsp; Dai-ichi Life Holdings, Inc. | 285300 | &nbsp;&nbsp; 2943158 |
| &nbsp;&nbsp;&nbsp; Daiwabo Holdings Co., Ltd. | 119300 | &nbsp;&nbsp; 2444594 |
| &nbsp;&nbsp;&nbsp; ITOCHU Corp. | 453900 | &nbsp;&nbsp; 6597848 |
| &nbsp;&nbsp;&nbsp; Iyogin Holdings, Inc. | 108800 | &nbsp;&nbsp; 2364596 |
| &nbsp;&nbsp;&nbsp; Kinden Corp. | 20600 | &nbsp;&nbsp; 1119667 |
| &nbsp;&nbsp;&nbsp; Macnica Holdings, Inc. | 121900 | &nbsp;&nbsp; 2161049 |
| &nbsp;&nbsp;&nbsp; MatsukiyoCocokara & Co. | 146200 | &nbsp;&nbsp; 2423794 |
| &nbsp;&nbsp;&nbsp; Mebuki Financial Group, Inc. | 517300 | &nbsp;&nbsp; 4448717 |
| &nbsp;&nbsp;&nbsp; Medipal Holdings Corp. | 101800 | &nbsp;&nbsp; 1999300 |
| &nbsp;&nbsp;&nbsp; Murata Manufacturing Co., Ltd. | 170600 | &nbsp;&nbsp; 4487720 |
| &nbsp;&nbsp;&nbsp; Nippon Television Holdings, Inc. | 96200 | &nbsp;&nbsp; 2094451 |
| &nbsp;&nbsp;&nbsp; ORIX Corp. | 252700 | &nbsp;&nbsp; 8969462 |
| &nbsp;&nbsp;&nbsp; Sankyo Co., Ltd. | 192400 | &nbsp;&nbsp; 2716627 |
| &nbsp;&nbsp;&nbsp; Sanwa Holdings Corp. | 40943 | &nbsp;&nbsp; 1083843 |
| &nbsp;&nbsp;&nbsp; SCREEN Holdings Co., Ltd. | 8900 | &nbsp;&nbsp; 1306519 |
| &nbsp;&nbsp;&nbsp; Shimamura Co., Ltd. | 123300 | &nbsp;&nbsp; 2839220 |
| &nbsp;&nbsp;&nbsp; Ship Healthcare Holdings, Inc. | 49500 | &nbsp;&nbsp; 869297 |
| &nbsp;&nbsp;&nbsp; Subaru Corp. | 138700 | &nbsp;&nbsp; 2634736 |
| &nbsp;&nbsp;&nbsp; Sumitomo Corp. | 93700 | &nbsp;&nbsp; 3997843 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | 316200 | &nbsp;&nbsp; 12142615 |
| &nbsp;&nbsp;&nbsp; Sundrug Co., Ltd. | 32800 | &nbsp;&nbsp; 886765 |
| &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co., Ltd. | 110900 | &nbsp;&nbsp; 4132341 |
| &nbsp;&nbsp;&nbsp; Tokyo Electron, Ltd. | 10400 | &nbsp;&nbsp; 2930900 |
| &nbsp;&nbsp;&nbsp; Tokyo Tatemono Co., Ltd. | 131000 | &nbsp;&nbsp; 3669158 |
| &nbsp;&nbsp;&nbsp; Toppan Holdings, Inc. | 64000 | &nbsp;&nbsp; 2198700 |
| &nbsp;&nbsp;&nbsp; Toyota Motor Corp. | 323700 | &nbsp;&nbsp; 7928489 |
| &nbsp;&nbsp;&nbsp; Toyota Tsusho Corp. | 67000 | &nbsp;&nbsp; 2998085 |
| &nbsp;&nbsp;&nbsp; TV Asahi Holdings Corp. | 44000 | &nbsp;&nbsp; 950917 |
|  |  | &nbsp;&nbsp; 95340411 |
| **Jersey — 1.0%** | **Jersey — 1.0%** | **Jersey — 1.0%** |
| &nbsp;&nbsp;&nbsp; TP ICAP Group PLC | 734281 | &nbsp;&nbsp; 2503572 |
| &nbsp;&nbsp;&nbsp; Yellow Cake PLC\*† | 297454 | &nbsp;&nbsp; 2549496 |
|  |  | &nbsp;&nbsp; 5053068 |
| **Kazakhstan — 0.2%** | **Kazakhstan — 0.2%** | **Kazakhstan — 0.2%** |
| &nbsp;&nbsp;&nbsp; Kaspi.KZ JSC ADR† | 16187 | &nbsp;&nbsp; 1142640 |
| **Netherlands — 5.9%** | **Netherlands — 5.9%** | **Netherlands — 5.9%** |
| &nbsp;&nbsp;&nbsp; ASR Nederland NV | 69064 | &nbsp;&nbsp; 5013875 |
| &nbsp;&nbsp;&nbsp; ING Groep NV | 428863 | &nbsp;&nbsp; 12481119 |
| &nbsp;&nbsp;&nbsp; JBS NV, Class A† | 129419 | &nbsp;&nbsp; 2185887 |

---

------

**VALIC Company I International Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
| &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize NV | 194060 | &nbsp;&nbsp; $9577916 |
| &nbsp;&nbsp;&nbsp; Prosus NV | 17435 | &nbsp;&nbsp; 896358 |
|  |  | &nbsp;&nbsp; 30155155 |
| **Norway — 1.4%** | **Norway — 1.4%** | **Norway — 1.4%** |
| &nbsp;&nbsp;&nbsp; DNB Bank ASA | 141495 | &nbsp;&nbsp; 4486684 |
| &nbsp;&nbsp;&nbsp; Leroy Seafood Group ASA | 472863 | &nbsp;&nbsp; 2471661 |
|  |  | &nbsp;&nbsp; 6958345 |
| **Poland — 0.5%** | **Poland — 0.5%** | **Poland — 0.5%** |
| &nbsp;&nbsp;&nbsp; Powszechna Kasa Oszczednosci Bank Polski SA | 96548 | &nbsp;&nbsp; 2498308 |
| **Singapore — 3.1%** | **Singapore — 3.1%** | **Singapore — 3.1%** |
| &nbsp;&nbsp;&nbsp; BW LPG, Ltd. (NYSE)\* | 110876 | &nbsp;&nbsp; 2021269 |
| &nbsp;&nbsp;&nbsp; BW LPG, Ltd. (OSEAX)\* | 23984 | &nbsp;&nbsp; 433101 |
| &nbsp;&nbsp;&nbsp; DBS Group Holdings, Ltd. | 142700 | &nbsp;&nbsp; 6444007 |
| &nbsp;&nbsp;&nbsp; Singapore Exchange, Ltd. | 324200 | &nbsp;&nbsp; 4664748 |
| &nbsp;&nbsp;&nbsp; Venture Corp., Ltd. | 206500 | &nbsp;&nbsp; 2551660 |
|  |  | &nbsp;&nbsp; 16114785 |
| **South Africa — 0.4%** | **South Africa — 0.4%** | **South Africa — 0.4%** |
| &nbsp;&nbsp;&nbsp; Impala Platinum Holdings, Ltd. | 89995 | &nbsp;&nbsp; 1998809 |
| **South Korea — 0.3%** | **South Korea — 0.3%** | **South Korea — 0.3%** |
| &nbsp;&nbsp;&nbsp; Youngone Corp. | 21992 | &nbsp;&nbsp; 1481421 |
| **Spain — 5.4%** | **Spain — 5.4%** | **Spain — 5.4%** |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA | 254748 | &nbsp;&nbsp; 5944953 |
| &nbsp;&nbsp;&nbsp; Banco Santander SA | 614080 | &nbsp;&nbsp; 7829192 |
| &nbsp;&nbsp;&nbsp; Endesa SA | 62651 | &nbsp;&nbsp; 2559163 |
| &nbsp;&nbsp;&nbsp; Iberdrola SA | 210981 | &nbsp;&nbsp; 4998368 |
| &nbsp;&nbsp;&nbsp; Industria de Diseno Textil SA | 97615 | &nbsp;&nbsp; 6553726 |
|  |  | &nbsp;&nbsp; 27885402 |
| **Switzerland — 5.6%** | **Switzerland — 5.6%** | **Switzerland — 5.6%** |
| &nbsp;&nbsp;&nbsp; Nestle SA | 27013 | &nbsp;&nbsp; 2950578 |
| &nbsp;&nbsp;&nbsp; Novartis AG | 40704 | &nbsp;&nbsp; 6908854 |
| &nbsp;&nbsp;&nbsp; Partners Group Holding AG# | 2305 | &nbsp;&nbsp; 2570471 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | 19805 | &nbsp;&nbsp; 9453645 |
| &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG | 8978 | &nbsp;&nbsp; 6779771 |
|  |  | &nbsp;&nbsp; 28663319 |
| **Taiwan — 0.8%** | **Taiwan — 0.8%** | **Taiwan — 0.8%** |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. | 68000 | &nbsp;&nbsp; 4272844 |
| **Turkey — 0.2%** | **Turkey — 0.2%** | **Turkey — 0.2%** |
| &nbsp;&nbsp;&nbsp; Akbank Turk AS | 501436 | &nbsp;&nbsp; 1028917 |
| **United Arab Emirates — 0.8%** | **United Arab Emirates — 0.8%** | **United Arab Emirates — 0.8%** |
| &nbsp;&nbsp;&nbsp; Emaar Properties PJSC | 876046 | &nbsp;&nbsp; 3863804 |
| **United Kingdom — 19.3%** | **United Kingdom — 19.3%** | **United Kingdom — 19.3%** |
| &nbsp;&nbsp;&nbsp; 3i Group PLC | 84657 | &nbsp;&nbsp; 3790006 |
| &nbsp;&nbsp;&nbsp; Ashtead Group PLC | 63362 | &nbsp;&nbsp; 4547863 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC (LSE) | 37297 | &nbsp;&nbsp; 7811927 |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC (NYSE) | 10530 | &nbsp;&nbsp; 2194979 |
| &nbsp;&nbsp;&nbsp; Centrica PLC | 822123 | &nbsp;&nbsp; 2206452 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC | 72998 | &nbsp;&nbsp; 8061169 |
| &nbsp;&nbsp;&nbsp; Compass Group PLC | 163180 | &nbsp;&nbsp; 5009542 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC | 594184 | &nbsp;&nbsp; 11159287 |
| &nbsp;&nbsp;&nbsp; Imperial Brands PLC | 132683 | &nbsp;&nbsp; 5945444 |
| &nbsp;&nbsp;&nbsp; JD Sports Fashion PLC | 1321600 | &nbsp;&nbsp; 1460109 |
| &nbsp;&nbsp;&nbsp; London Stock Exchange Group PLC | 34288 | &nbsp;&nbsp; 4094051 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
| &nbsp;&nbsp;&nbsp; Marks & Spencer Group PLC | 610202 | &nbsp;&nbsp; $3260575 |
| &nbsp;&nbsp;&nbsp; National Grid PLC | 497915 | &nbsp;&nbsp; 9333826 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC | 580800 | &nbsp;&nbsp; 4845010 |
| &nbsp;&nbsp;&nbsp; RELX PLC† | 97636 | &nbsp;&nbsp; 3400007 |
| &nbsp;&nbsp;&nbsp; Rio Tinto PLC | 73945 | &nbsp;&nbsp; 7309477 |
| &nbsp;&nbsp;&nbsp; Shell PLC | 351257 | &nbsp;&nbsp; 14549081 |
|  |  | &nbsp;&nbsp; 98978805 |
| **United States — 1.4%** | **United States — 1.4%** | **United States — 1.4%** |
| &nbsp;&nbsp;&nbsp; Diversified Energy Co. | 128755 | &nbsp;&nbsp; 1771669 |
| &nbsp;&nbsp;&nbsp; Primo Brands Corp. | 229050 | &nbsp;&nbsp; 5194854 |
|  |  | &nbsp;&nbsp; 6966523 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $376,416,492)<br>|  | &nbsp;&nbsp; 499538482 |
| **UNAFFILIATED INVESTMENT COMPANIES — 1.1%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.1%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.1%** |
| **United States — 1.1%** | **United States — 1.1%** | **United States — 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI EAFE Value ETF <br>(cost $5,649,720)<br>| 71945 | &nbsp;&nbsp; 5738333 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $382,066,212)<br>|  | &nbsp;&nbsp; 505276815 |
| **SHORT-TERM INVESTMENTS — 1.3%** | **SHORT-TERM INVESTMENTS — 1.3%** | **SHORT-TERM INVESTMENTS — 1.3%** |
| **Unaffiliated Investment Companies — 1.3%** | **Unaffiliated Investment Companies — 1.3%** | **Unaffiliated Investment Companies — 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allspring Government Money Market Fund, Institutional <br> Shares Class 3.27%(1)<br>| 3144306 | &nbsp;&nbsp; 3144306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class 3.63%(1)<br>| 3486460 | &nbsp;&nbsp; 3486460 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $6,630,765)<br>|  | &nbsp;&nbsp; 6630766 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $388,696,977)<br>| 99.9<br> %<br>| &nbsp;&nbsp; 511907581 |
| Other assets less liabilities | 0.1 | &nbsp;&nbsp; 568066 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $512475647 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| \* | &nbsp;&nbsp; Securities exempt from registration under Rule 144A of the Securities Act of 1933. These <br> securities may be sold in transactions exempt from registration, normally to qualified <br> institutional buyers. The International Value Fund has no right to demand registration of <br> these securities. At February 28, 2026, the aggregate value of these securities was <br> $8,822,947 representing 1.7% of net assets.<br>|
| # | &nbsp;&nbsp; The security or a portion thereof is out on loan. <br>At February 28, 2026, the Fund had loaned securities with a total value of $2,520,188. <br> This was secured by collateral of $2,681,178 received in the form of fixed income pooled <br> securities, which the Fund cannot sell or repledge and accordingly, are not reflected in <br> the Fund's assets and liabilities. The components of the fixed income pooled securities <br> referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 4.88% | 03/31/2026 to 02/15/2055 | $2681178 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

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

---

| |
|:---|
| ADR—American Depositary Receipt |
| ETF—Exchange Traded Fund |
| LSE—London Stock Exchange |
| NYSE—New York Stock Exchange |
| OSEAX—Oslo Stock Exchange |

---

------

**VALIC Company I International Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **In** <br>**Exchange For** | &nbsp;&nbsp; **In** <br>**Exchange For** | **Delivery** <br>**Date**<br>| **Unrealized** <br>**Appreciation**<br>| **Unrealized** <br>**(Depreciation)**<br>|
| Barclays Bank PLC | CAD | &nbsp;&nbsp; 18606000 | USD | &nbsp;&nbsp; 13633130 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(23858)<br>|
|  | USD | &nbsp;&nbsp; 750202 | AUD | &nbsp;&nbsp; 1064000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 6918 | &nbsp;&nbsp; — |
|  | USD | &nbsp;&nbsp; 1019796 | EUR | &nbsp;&nbsp; 857000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (5798)<br>|
|  | USD | &nbsp;&nbsp; 2903759 | SEK | &nbsp;&nbsp; 26100000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (8352)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; 6918 | &nbsp;&nbsp; (38008)<br>|
| Citibank, N.A. | NOK | &nbsp;&nbsp; 11768000 | USD | &nbsp;&nbsp; 1207222 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (30254)<br>|
|  | USD | &nbsp;&nbsp; 6550991 | EUR | &nbsp;&nbsp; 5537000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 361 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 361 | &nbsp;&nbsp; (30254)<br>|
| HSBC Bank PLC | USD | &nbsp;&nbsp; 9656269 | AUD | &nbsp;&nbsp; 13862000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 207636 | &nbsp;&nbsp; — |
| JPMorgan Chase Bank, N.A. | JPY | &nbsp;&nbsp; 756645000 | USD | &nbsp;&nbsp; 4851657 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (5215)<br>|
| Morgan Stanley Bank, N.A. | SGD | &nbsp;&nbsp; 2155000 | USD | &nbsp;&nbsp; 1698893 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (8192)<br>|
|  | USD | &nbsp;&nbsp; 12785822 | GBP | &nbsp;&nbsp; 9409000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (104885)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp; — | &nbsp;&nbsp; (113077)<br>|
| State Street Bank & Trust Co. | NZD | &nbsp;&nbsp; 5645000 | USD | &nbsp;&nbsp; 3394875 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 5217 | &nbsp;&nbsp; — |
|  | USD | &nbsp;&nbsp; 8009323 | CHF | &nbsp;&nbsp; 6183000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; 57022 | &nbsp;&nbsp; — |
|  |  |  |  |  |  | &nbsp;&nbsp; 62239 | &nbsp;&nbsp; — |
| UBS AG | USD | &nbsp;&nbsp; 1455240 | DKK | &nbsp;&nbsp; 9183000 | &nbsp;&nbsp; 03/31/2026 | &nbsp;&nbsp; — | &nbsp;&nbsp; (752)<br>|
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp; $277154 | &nbsp;&nbsp; $(187306)<br>|

---

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

---

| |
|:---|
| AUD—Australian Dollar |
| CAD—Canadian Dollar |
| CHF—Swiss Franc |
| DKK—Danish Krone |
| EUR—Euro Currency |
| GBP—British Pound |

---

---

| |
|:---|
| JPY—Japanese Yen |
| NOK—Norwegian Krone |
| NZD—New Zealand Dollar |
| SEK—Swedish Krona |
| SGD—Singapore Dollar |
| USD—United States Dollar |

---

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

---

| | |
|:---|:---|
| **Industry Allocation\*** |  |
| Banks | 21.3<br> %<br>|
| Pharmaceuticals | 7.7 |
| Oil & Gas | 6.4 |
| Insurance | 5.8 |
| Electric | 5.2 |
| Mining | 4.8 |
| Food | 4.8 |
| Diversified Financial Services | 4.1 |
| Distribution/Wholesale | 3.2 |
| Retail | 2.8 |
| Beverages | 2.6 |
| Telecommunications | 2.4 |
| Real Estate | 2.2 |
| Commercial Services | 2.2 |
| Auto Manufacturers | 2.0 |
| Electronics | 2.0 |
| Electrical Components & Equipment | 1.5 |
| Miscellaneous Manufacturing | 1.4 |
| Semiconductors | 1.4 |
| Engineering & Construction | 1.3 |
| Short-Term Investments | 1.3 |
| Computers | 1.3 |
| Private Equity | 1.2 |
| Agriculture | 1.2 |
| Unaffiliated Investment Companies | 1.1 |
| Food Service | 1.0 |
| Lodging | 1.0 |
| Entertainment | 0.7 |
| Building Materials | 0.6 |
| Apparel | 0.6 |

---

------

**VALIC Company I International Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | |
|:---|:---|
| **Industry Allocation\*(continued)** |  |
| Media | 0.6<br> %<br>|
| Machinery-Diversified | 0.5 |
| Forest Products & Paper | 0.5 |
| Investment Companies | 0.5 |
| Transportation | 0.5 |
| Healthcare-Services | 0.5 |
| Gas | 0.4 |
| Hand/Machine Tools | 0.4 |
| Chemicals | 0.3 |
| Packaging & Containers | 0.2 |
| Internet | 0.2 |
| Coal | 0.2 |
|  | 99.9<br> %<br>|

---

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

\* Calculated as a percentage of net assets

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4272844 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4272844 |
| &nbsp;&nbsp;&nbsp; Other Countries | &nbsp;&nbsp; 495265638 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 495265638 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 5738333 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5738333 |
| Short-Term Investments | &nbsp;&nbsp; 6630766 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6630766 |
| **Total Investments at Value** | &nbsp;&nbsp; $507634737 | &nbsp;&nbsp; $4272844 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $511907581 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $277154 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $277154 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $187306 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $187306 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Large Cap Core Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** | **COMMON STOCKS — 99.9%** |
| **Aerospace/Defense — 2.5%** | **Aerospace/Defense — 2.5%** | **Aerospace/Defense — 2.5%** |
| &nbsp;&nbsp;&nbsp; Boeing Co.† | 7010 | &nbsp;&nbsp; $1594985 |
| &nbsp;&nbsp;&nbsp; General Electric Co. | 8879 | &nbsp;&nbsp; 3038927 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 22944 | &nbsp;&nbsp; 6023488 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 1511 | &nbsp;&nbsp; 550820 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 10202 | &nbsp;&nbsp; 7390125 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 4929 | &nbsp;&nbsp; 998714 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | 306 | &nbsp;&nbsp; 398654 |
|  |  | &nbsp;&nbsp; 19995713 |
| **Agriculture — 0.4%** | **Agriculture — 0.4%** | **Agriculture — 0.4%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | 9149 | &nbsp;&nbsp; 631647 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 12089 | &nbsp;&nbsp; 2258588 |
|  |  | &nbsp;&nbsp; 2890235 |
| **Airlines — 0.1%** | **Airlines — 0.1%** | **Airlines — 0.1%** |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.† | 4037 | &nbsp;&nbsp; 429133 |
| **Auto Manufacturers — 1.9%** | **Auto Manufacturers — 1.9%** | **Auto Manufacturers — 1.9%** |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | 226 | &nbsp;&nbsp; 131955 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | 7853 | &nbsp;&nbsp; 618110 |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | 8069 | &nbsp;&nbsp; 1017420 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 32897 | &nbsp;&nbsp; 13241371 |
|  |  | &nbsp;&nbsp; 15008856 |
| **Banks — 4.8%** | **Banks — 4.8%** | **Banks — 4.8%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 56279 | &nbsp;&nbsp; 2804383 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 7723 | &nbsp;&nbsp; 919809 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 21192 | &nbsp;&nbsp; 2335147 |
| &nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 3829 | &nbsp;&nbsp; 419084 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 9371 | &nbsp;&nbsp; 463583 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 1597 | &nbsp;&nbsp; 1372733 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 24238 | &nbsp;&nbsp; 407198 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 17729 | &nbsp;&nbsp; 5324019 |
| &nbsp;&nbsp;&nbsp; KeyCorp | 15560 | &nbsp;&nbsp; 322714 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | 42641 | &nbsp;&nbsp; 7100153 |
| &nbsp;&nbsp;&nbsp; Popular, Inc. | 1268 | &nbsp;&nbsp; 171636 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | 2159 | &nbsp;&nbsp; 106460 |
| &nbsp;&nbsp;&nbsp; US Bancorp | 78428 | &nbsp;&nbsp; 4286875 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | 142962 | &nbsp;&nbsp; 11644255 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp | 2346 | &nbsp;&nbsp; 188431 |
|  |  | &nbsp;&nbsp; 37866480 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. | 30343 | &nbsp;&nbsp; 2474775 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 16194 | &nbsp;&nbsp; 490354 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 6187 | &nbsp;&nbsp; 527751 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 6331 | &nbsp;&nbsp; 1074624 |
|  |  | &nbsp;&nbsp; 4567504 |
| **Biotechnology — 1.3%** | **Biotechnology — 1.3%** | **Biotechnology — 1.3%** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 2497 | &nbsp;&nbsp; 969236 |
| &nbsp;&nbsp;&nbsp; Corteva, Inc. | 4277 | &nbsp;&nbsp; 342673 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 9616 | &nbsp;&nbsp; 1432303 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 4424 | &nbsp;&nbsp; 3458108 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 8901 | &nbsp;&nbsp; 4422284 |
|  |  | &nbsp;&nbsp; 10624604 |
| **Building Materials — 2.1%** | **Building Materials — 2.1%** | **Building Materials — 2.1%** |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | 36948 | &nbsp;&nbsp; 2379451 |
| &nbsp;&nbsp;&nbsp; CRH PLC | 4532 | &nbsp;&nbsp; 543749 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC | 4668 | &nbsp;&nbsp; 673593 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | 800 | &nbsp;&nbsp; 541256 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 14842 | &nbsp;&nbsp; 6861754 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Building Materials (continued)** | **Building Materials (continued)** | **Building Materials (continued)** |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | 17340 | &nbsp;&nbsp; $5375400 |
| &nbsp;&nbsp;&nbsp; West Fraser Timber Co., Ltd. | 3859 | &nbsp;&nbsp; 256546 |
|  |  | &nbsp;&nbsp; 16631749 |
| **Chemicals — 0.5%** | **Chemicals — 0.5%** | **Chemicals — 0.5%** |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 1784 | &nbsp;&nbsp; 177579 |
| &nbsp;&nbsp;&nbsp; Dow, Inc. | 2329 | &nbsp;&nbsp; 71570 |
| &nbsp;&nbsp;&nbsp; Ecolab, Inc. | 2046 | &nbsp;&nbsp; 630884 |
| &nbsp;&nbsp;&nbsp; Linde PLC | 4238 | &nbsp;&nbsp; 2153243 |
| &nbsp;&nbsp;&nbsp; Mosaic Co. | 3390 | &nbsp;&nbsp; 94378 |
| &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc. | 1400 | &nbsp;&nbsp; 177464 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. | 474 | &nbsp;&nbsp; 54093 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 1772 | &nbsp;&nbsp; 642510 |
|  |  | &nbsp;&nbsp; 4001721 |
| **Commercial Services — 1.0%** | **Commercial Services — 1.0%** | **Commercial Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; API Group Corp.† | 9817 | &nbsp;&nbsp; 436464 |
| &nbsp;&nbsp;&nbsp; Block, Inc.† | 14072 | &nbsp;&nbsp; 896386 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. | 918 | &nbsp;&nbsp; 72366 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 2698 | &nbsp;&nbsp; 542649 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc.† | 1703 | &nbsp;&nbsp; 553645 |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. | 1582 | &nbsp;&nbsp; 330575 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 3527 | &nbsp;&nbsp; 269674 |
| &nbsp;&nbsp;&nbsp; Klarna Group PLC† | 1516 | &nbsp;&nbsp; 20557 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 1320 | &nbsp;&nbsp; 630419 |
| &nbsp;&nbsp;&nbsp; S&P Global, Inc. | 2201 | &nbsp;&nbsp; 972578 |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. | 3591 | &nbsp;&nbsp; 3016440 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 1876 | &nbsp;&nbsp; 389401 |
|  |  | &nbsp;&nbsp; 8131154 |
| **Computers — 7.8%** | **Computers — 7.8%** | **Computers — 7.8%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 206415 | &nbsp;&nbsp; 54530714 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A† | 1851 | &nbsp;&nbsp; 688535 |
| &nbsp;&nbsp;&nbsp; Figure Technology Solutions, Inc., Class A† | 7900 | &nbsp;&nbsp; 199712 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 7165 | &nbsp;&nbsp; 566250 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.† | 1200 | &nbsp;&nbsp; 841092 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 2066 | &nbsp;&nbsp; 1312654 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 4270 | &nbsp;&nbsp; 1741477 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 6940 | &nbsp;&nbsp; 1941118 |
|  |  | &nbsp;&nbsp; 61821552 |
| **Cosmetics/Personal Care — 0.7%** | **Cosmetics/Personal Care — 0.7%** | **Cosmetics/Personal Care — 0.7%** |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 9033 | &nbsp;&nbsp; 895532 |
| &nbsp;&nbsp;&nbsp; e.l.f. Beauty, Inc.† | 1917 | &nbsp;&nbsp; 176460 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc., Class A | 5075 | &nbsp;&nbsp; 555560 |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. | 12145 | &nbsp;&nbsp; 232212 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 17603 | &nbsp;&nbsp; 2943221 |
| &nbsp;&nbsp;&nbsp; Unilever PLC ADR | 8389 | &nbsp;&nbsp; 618689 |
|  |  | &nbsp;&nbsp; 5421674 |
| **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** | **Distribution/Wholesale — 0.1%** |
| &nbsp;&nbsp;&nbsp; SiteOne Landscape Supply, Inc.† | 1316 | &nbsp;&nbsp; 188043 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 530 | &nbsp;&nbsp; 606707 |
|  |  | &nbsp;&nbsp; 794750 |
| **Diversified Financial Services — 4.7%** | **Diversified Financial Services — 4.7%** | **Diversified Financial Services — 4.7%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | 31091 | &nbsp;&nbsp; 9604010 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 3821 | &nbsp;&nbsp; 1796328 |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 3979 | &nbsp;&nbsp; 416203 |
| &nbsp;&nbsp;&nbsp; Ares Management Corp., Class A | 3655 | &nbsp;&nbsp; 409397 |
| &nbsp;&nbsp;&nbsp; Blackrock, Inc. | 1005 | &nbsp;&nbsp; 1068546 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 2749 | &nbsp;&nbsp; 537814 |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 512 | &nbsp;&nbsp; 153457 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 16697 | &nbsp;&nbsp; 1589554 |

---

------

**VALIC Company I Large Cap Core Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | 3138 | &nbsp;&nbsp; $1002591 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 3654 | &nbsp;&nbsp; 599731 |
| &nbsp;&nbsp;&nbsp; Invesco, Ltd. | 8781 | &nbsp;&nbsp; 230589 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 400 | &nbsp;&nbsp; 120152 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 26214 | &nbsp;&nbsp; 13558143 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc., Class A | 1326 | &nbsp;&nbsp; 24120 |
| &nbsp;&nbsp;&nbsp; TPG, Inc. | 4787 | &nbsp;&nbsp; 207852 |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc., Class A | 6548 | &nbsp;&nbsp; 807074 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 12976 | &nbsp;&nbsp; 4154137 |
| &nbsp;&nbsp;&nbsp; Voya Financial, Inc. | 5842 | &nbsp;&nbsp; 390713 |
|  |  | &nbsp;&nbsp; 36670411 |
| **Electric — 3.2%** | **Electric — 3.2%** | **Electric — 3.2%** |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 13174 | &nbsp;&nbsp; 953007 |
| &nbsp;&nbsp;&nbsp; Ameren Corp. | 3249 | &nbsp;&nbsp; 368047 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. | 4454 | &nbsp;&nbsp; 347724 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. | 6647 | &nbsp;&nbsp; 747920 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 711 | &nbsp;&nbsp; 234545 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. | 2765 | &nbsp;&nbsp; 409884 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | 33308 | &nbsp;&nbsp; 3567620 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | 112904 | &nbsp;&nbsp; 10587008 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 49679 | &nbsp;&nbsp; 943901 |
| &nbsp;&nbsp;&nbsp; Sempra | 10080 | &nbsp;&nbsp; 970402 |
| &nbsp;&nbsp;&nbsp; Southern Co. | 38866 | &nbsp;&nbsp; 3784771 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | 4742 | &nbsp;&nbsp; 824586 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 14304 | &nbsp;&nbsp; 1192381 |
|  |  | &nbsp;&nbsp; 24931796 |
| **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 17257 | &nbsp;&nbsp; 6487251 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | 2586 | &nbsp;&nbsp; 389840 |
|  |  | &nbsp;&nbsp; 6877091 |
| **Electronics — 1.3%** | **Electronics — 1.3%** | **Electronics — 1.3%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 38569 | &nbsp;&nbsp; 5633388 |
| &nbsp;&nbsp;&nbsp; Fortive Corp. | 14705 | &nbsp;&nbsp; 870536 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 3324 | &nbsp;&nbsp; 809693 |
| &nbsp;&nbsp;&nbsp; Hubbell, Inc. | 309 | &nbsp;&nbsp; 158094 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | 1000 | &nbsp;&nbsp; 264990 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.† | 4393 | &nbsp;&nbsp; 1350101 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 5043 | &nbsp;&nbsp; 1160646 |
|  |  | &nbsp;&nbsp; 10247448 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.† | 1000 | &nbsp;&nbsp; 162140 |
| &nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 3610 | &nbsp;&nbsp; 808171 |
|  |  | &nbsp;&nbsp; 970311 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp; Pentair PLC | 2000 | &nbsp;&nbsp; 198380 |
| &nbsp;&nbsp;&nbsp; Veralto Corp. | 550 | &nbsp;&nbsp; 53587 |
| &nbsp;&nbsp;&nbsp; Waste Connections, Inc. (NYSE) | 2203 | &nbsp;&nbsp; 379202 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. | 2186 | &nbsp;&nbsp; 526476 |
|  |  | &nbsp;&nbsp; 1157645 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 4776 | &nbsp;&nbsp; 230155 |
| &nbsp;&nbsp;&nbsp; Magnum Ice Cream Co. NV (NYSE)† | 1903 | &nbsp;&nbsp; 30201 |
| &nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 1100 | &nbsp;&nbsp; 78144 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | 61100 | &nbsp;&nbsp; 3762538 |
| &nbsp;&nbsp;&nbsp; Tyson Foods, Inc., Class A | 2039 | &nbsp;&nbsp; 132515 |
|  |  | &nbsp;&nbsp; 4233553 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp; International Paper Co. | 10496 | &nbsp;&nbsp; $457101 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 2948 | &nbsp;&nbsp; 550657 |
| **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** | **Hand/Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | 2541 | &nbsp;&nbsp; 219771 |
| **Healthcare-Products — 3.6%** | **Healthcare-Products — 3.6%** | **Healthcare-Products — 3.6%** |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | 13709 | &nbsp;&nbsp; 1595042 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 38900 | &nbsp;&nbsp; 2989465 |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | 5380 | &nbsp;&nbsp; 1133243 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.† | 53248 | &nbsp;&nbsp; 4604355 |
| &nbsp;&nbsp;&nbsp; Guardant Health, Inc.† | 3800 | &nbsp;&nbsp; 356820 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.† | 3189 | &nbsp;&nbsp; 1605693 |
| &nbsp;&nbsp;&nbsp; Medline, Inc., Class A† | 1824 | &nbsp;&nbsp; 86658 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 59397 | &nbsp;&nbsp; 5800711 |
| &nbsp;&nbsp;&nbsp; Natera, Inc.† | 1800 | &nbsp;&nbsp; 374472 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 1042 | &nbsp;&nbsp; 267023 |
| &nbsp;&nbsp;&nbsp; Revvity, Inc. | 1600 | &nbsp;&nbsp; 157296 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 19152 | &nbsp;&nbsp; 7420634 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 3019 | &nbsp;&nbsp; 1573231 |
| &nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | 1413 | &nbsp;&nbsp; 359383 |
|  |  | &nbsp;&nbsp; 28324026 |
| **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; Centene Corp.† | 4092 | &nbsp;&nbsp; 183649 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.† | 1500 | &nbsp;&nbsp; 267735 |
| &nbsp;&nbsp;&nbsp; Cigna Group | 1123 | &nbsp;&nbsp; 325468 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 1084 | &nbsp;&nbsp; 346880 |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.† | 911 | &nbsp;&nbsp; 162896 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | 1020 | &nbsp;&nbsp; 216148 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.† | 2356 | &nbsp;&nbsp; 564003 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 7036 | &nbsp;&nbsp; 2063447 |
|  |  | &nbsp;&nbsp; 4130226 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| &nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 4900 | &nbsp;&nbsp; 672280 |
| **Insurance — 2.9%** | **Insurance — 2.9%** | **Insurance — 2.9%** |
| &nbsp;&nbsp;&nbsp; Allstate Corp. | 6131 | &nbsp;&nbsp; 1315222 |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. | 8286 | &nbsp;&nbsp; 666940 |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 1100 | &nbsp;&nbsp; 369017 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 29004 | &nbsp;&nbsp; 6618713 |
| &nbsp;&nbsp;&nbsp; Axis Capital Holdings, Ltd. | 2044 | &nbsp;&nbsp; 216092 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B† | 8049 | &nbsp;&nbsp; 4064342 |
| &nbsp;&nbsp;&nbsp; Chubb, Ltd. | 5848 | &nbsp;&nbsp; 1993349 |
| &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. | 12290 | &nbsp;&nbsp; 494304 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 8820 | &nbsp;&nbsp; 1647047 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. | 13152 | &nbsp;&nbsp; 947865 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 19437 | &nbsp;&nbsp; 4152909 |
| &nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 1100 | &nbsp;&nbsp; 335687 |
|  |  | &nbsp;&nbsp; 22821487 |
| **Internet — 13.6%** | **Internet — 13.6%** | **Internet — 13.6%** |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc., Class A† | 1200 | &nbsp;&nbsp; 162132 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 87916 | &nbsp;&nbsp; 27408692 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 43324 | &nbsp;&nbsp; 13492393 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 156784 | &nbsp;&nbsp; 32924640 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 2648 | &nbsp;&nbsp; 1151271 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 276 | &nbsp;&nbsp; 1170061 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 11686 | &nbsp;&nbsp; 2062229 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 37122 | &nbsp;&nbsp; 24061738 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 35275 | &nbsp;&nbsp; 3394866 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.† | 6448 | &nbsp;&nbsp; 960236 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 3626 | &nbsp;&nbsp; 275032 |

---

------

**VALIC Company I Large Cap Core Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 448 | &nbsp;&nbsp; $230693 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 2422 | &nbsp;&nbsp; 182667 |
|  |  | &nbsp;&nbsp; 107476650 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 2678 | &nbsp;&nbsp; 517202 |
| **Leisure Time — 0.1%** | **Leisure Time — 0.1%** | **Leisure Time — 0.1%** |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. | 2250 | &nbsp;&nbsp; 699660 |
| **Lodging — 0.4%** | **Lodging — 0.4%** | **Lodging — 0.4%** |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 3083 | &nbsp;&nbsp; 961218 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 4139 | &nbsp;&nbsp; 234764 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | 5860 | &nbsp;&nbsp; 2002538 |
|  |  | &nbsp;&nbsp; 3198520 |
| **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 4002 | &nbsp;&nbsp; 2972806 |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 821 | &nbsp;&nbsp; 717226 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 3022 | &nbsp;&nbsp; 770277 |
|  |  | &nbsp;&nbsp; 4460309 |
| **Machinery-Diversified — 1.0%** | **Machinery-Diversified — 1.0%** | **Machinery-Diversified — 1.0%** |
| &nbsp;&nbsp;&nbsp; Deere & Co. | 8687 | &nbsp;&nbsp; 5470291 |
| &nbsp;&nbsp;&nbsp; Dover Corp. | 2631 | &nbsp;&nbsp; 593290 |
| &nbsp;&nbsp;&nbsp; Esab Corp. | 3574 | &nbsp;&nbsp; 450932 |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc. | 4327 | &nbsp;&nbsp; 407344 |
| &nbsp;&nbsp;&nbsp; Middleby Corp.† | 3102 | &nbsp;&nbsp; 523804 |
| &nbsp;&nbsp;&nbsp; Xylem, Inc. | 1292 | &nbsp;&nbsp; 167391 |
|  |  | &nbsp;&nbsp; 7613052 |
| **Media — 1.1%** | **Media — 1.1%** | **Media — 1.1%** |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 78109 | &nbsp;&nbsp; 8282678 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp; Agnico Eagle Mines, Ltd. | 600 | &nbsp;&nbsp; 150960 |
| &nbsp;&nbsp;&nbsp; Franco-Nevada Corp. | 2893 | &nbsp;&nbsp; 811805 |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 9345 | &nbsp;&nbsp; 636207 |
|  |  | &nbsp;&nbsp; 1598972 |
| **Miscellaneous Manufacturing — 0.4%** | **Miscellaneous Manufacturing — 0.4%** | **Miscellaneous Manufacturing — 0.4%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | 3097 | &nbsp;&nbsp; 511996 |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.† | 500 | &nbsp;&nbsp; 271200 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 1560 | &nbsp;&nbsp; 1574321 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.† | 1552 | &nbsp;&nbsp; 1057067 |
|  |  | &nbsp;&nbsp; 3414584 |
| **Oil & Gas — 1.4%** | **Oil & Gas — 1.4%** | **Oil & Gas — 1.4%** |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 14936 | &nbsp;&nbsp; 2789447 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | 13827 | &nbsp;&nbsp; 1568811 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 3155 | &nbsp;&nbsp; 549222 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 3313 | &nbsp;&nbsp; 411077 |
| &nbsp;&nbsp;&nbsp; EQT Corp. | 6681 | &nbsp;&nbsp; 410347 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. | 1566 | &nbsp;&nbsp; 169003 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 24995 | &nbsp;&nbsp; 3811738 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | 3400 | &nbsp;&nbsp; 524722 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 3026 | &nbsp;&nbsp; 619241 |
|  |  | &nbsp;&nbsp; 10853608 |
| **Oil & Gas Services — 1.5%** | **Oil & Gas Services — 1.5%** | **Oil & Gas Services — 1.5%** |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | 173997 | &nbsp;&nbsp; 11355044 |
| &nbsp;&nbsp;&nbsp; SLB, Ltd. | 14550 | &nbsp;&nbsp; 746997 |
|  |  | &nbsp;&nbsp; 12102041 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Ball Corp. | 5088 | &nbsp;&nbsp; $341557 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | 857 | &nbsp;&nbsp; 198944 |
|  |  | &nbsp;&nbsp; 540501 |
| **Pharmaceuticals — 4.3%** | **Pharmaceuticals — 4.3%** | **Pharmaceuticals — 4.3%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 39362 | &nbsp;&nbsp; 9135133 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 1000 | &nbsp;&nbsp; 176480 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 12302 | &nbsp;&nbsp; 767276 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 2648 | &nbsp;&nbsp; 607001 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | 1886 | &nbsp;&nbsp; 701856 |
| &nbsp;&nbsp;&nbsp; Chugai Pharmaceutical Co., Ltd. ADR | 19171 | &nbsp;&nbsp; 644337 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 12483 | &nbsp;&nbsp; 997392 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 12269 | &nbsp;&nbsp; 12906865 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 14750 | &nbsp;&nbsp; 3664342 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 576 | &nbsp;&nbsp; 568725 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 20569 | &nbsp;&nbsp; 2546854 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. | 16669 | &nbsp;&nbsp; 460898 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | 46092 | &nbsp;&nbsp; 688154 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. | 1878 | &nbsp;&nbsp; 246206 |
|  |  | &nbsp;&nbsp; 34111519 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | 2912 | &nbsp;&nbsp; 686650 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 14525 | &nbsp;&nbsp; 1085308 |
|  |  | &nbsp;&nbsp; 1771958 |
| **Private Equity — 0.8%** | **Private Equity — 0.8%** | **Private Equity — 0.8%** |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | 49972 | &nbsp;&nbsp; 5665326 |
| &nbsp;&nbsp;&nbsp; KKR & Co., Inc. | 6899 | &nbsp;&nbsp; 604904 |
|  |  | &nbsp;&nbsp; 6270230 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc., Class A† | 3748 | &nbsp;&nbsp; 553430 |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc.† | 3173 | &nbsp;&nbsp; 141611 |
|  |  | &nbsp;&nbsp; 695041 |
| **REITS — 1.3%** | **REITS — 1.3%** | **REITS — 1.3%** |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | 2250 | &nbsp;&nbsp; 431685 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 1381 | &nbsp;&nbsp; 244755 |
| &nbsp;&nbsp;&nbsp; BXP, Inc. | 2220 | &nbsp;&nbsp; 127828 |
| &nbsp;&nbsp;&nbsp; CubeSmart | 3586 | &nbsp;&nbsp; 147528 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | 1026 | &nbsp;&nbsp; 999591 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 1000 | &nbsp;&nbsp; 67160 |
| &nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 1001 | &nbsp;&nbsp; 255365 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | 6341 | &nbsp;&nbsp; 149330 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | 30753 | &nbsp;&nbsp; 4384455 |
| &nbsp;&nbsp;&nbsp; Public Storage | 1639 | &nbsp;&nbsp; 503271 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | 2338 | &nbsp;&nbsp; 184702 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. | 14064 | &nbsp;&nbsp; 526978 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 1674 | &nbsp;&nbsp; 341245 |
| &nbsp;&nbsp;&nbsp; Sun Communities, Inc. | 1130 | &nbsp;&nbsp; 154200 |
| &nbsp;&nbsp;&nbsp; Ventas, Inc. | 3713 | &nbsp;&nbsp; 319912 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc. | 4939 | &nbsp;&nbsp; 1022966 |
|  |  | &nbsp;&nbsp; 9860971 |
| **Retail — 6.3%** | **Retail — 6.3%** | **Retail — 6.3%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 990 | &nbsp;&nbsp; 3718024 |
| &nbsp;&nbsp;&nbsp; Carvana Co.† | 1852 | &nbsp;&nbsp; 618864 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.† | 70710 | &nbsp;&nbsp; 2631826 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 2975 | &nbsp;&nbsp; 3007100 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 637 | &nbsp;&nbsp; 136223 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 363 | &nbsp;&nbsp; 146111 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 7726 | &nbsp;&nbsp; 2941443 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | 42001 | &nbsp;&nbsp; 11112205 |

---

------

**VALIC Company I Large Cap Core Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 32206 | &nbsp;&nbsp; $10984178 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 8704 | &nbsp;&nbsp; 817132 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 2710 | &nbsp;&nbsp; 557284 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | 2800 | &nbsp;&nbsp; 274456 |
| &nbsp;&nbsp;&nbsp; Target Corp. | 800 | &nbsp;&nbsp; 91032 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 8292 | &nbsp;&nbsp; 1340485 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 442 | &nbsp;&nbsp; 302677 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 85475 | &nbsp;&nbsp; 10936526 |
| &nbsp;&nbsp;&nbsp; Wingstop, Inc. | 888 | &nbsp;&nbsp; 230445 |
|  |  | &nbsp;&nbsp; 49846011 |
| **Semiconductors — 14.9%** | **Semiconductors — 14.9%** | **Semiconductors — 14.9%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 9990 | &nbsp;&nbsp; 2000098 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 7322 | &nbsp;&nbsp; 2605094 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 4700 | &nbsp;&nbsp; 1749810 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 1974 | &nbsp;&nbsp; 2863405 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 67269 | &nbsp;&nbsp; 21495809 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 33076 | &nbsp;&nbsp; 1508596 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 1450 | &nbsp;&nbsp; 2210598 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 11246 | &nbsp;&nbsp; 2630327 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 14145 | &nbsp;&nbsp; 5832974 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 1362 | &nbsp;&nbsp; 1556412 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 356513 | &nbsp;&nbsp; 63170539 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 33898 | &nbsp;&nbsp; 7695185 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | 4706 | &nbsp;&nbsp; 1506061 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 1300 | &nbsp;&nbsp; 275743 |
|  |  | &nbsp;&nbsp; 117100651 |
| **Software — 7.7%** | **Software — 7.7%** | **Software — 7.7%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 1886 | &nbsp;&nbsp; 494905 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 1181 | &nbsp;&nbsp; 290372 |
| &nbsp;&nbsp;&nbsp; Descartes Systems Group, Inc.† | 5703 | &nbsp;&nbsp; 377824 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.† | 75 | &nbsp;&nbsp; 105702 |
| &nbsp;&nbsp;&nbsp; Figma, Inc., Class A† | 6700 | &nbsp;&nbsp; 196913 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc.† | 2170 | &nbsp;&nbsp; 135169 |
| &nbsp;&nbsp;&nbsp; HubSpot, Inc.† | 123 | &nbsp;&nbsp; 32535 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 12728 | &nbsp;&nbsp; 5206134 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 107994 | &nbsp;&nbsp; 42413564 |
| &nbsp;&nbsp;&nbsp; MSCI, Inc. | 500 | &nbsp;&nbsp; 285915 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 47699 | &nbsp;&nbsp; 6935435 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; PTC, Inc.† | 828 | &nbsp;&nbsp; $129656 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 6028 | &nbsp;&nbsp; 1174194 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 28673 | &nbsp;&nbsp; 3096971 |
|  |  | &nbsp;&nbsp; 60875289 |
| **Telecommunications — 1.4%** | **Telecommunications — 1.4%** | **Telecommunications — 1.4%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 9108 | &nbsp;&nbsp; 1215918 |
| &nbsp;&nbsp;&nbsp; Ciena Corp.† | 3100 | &nbsp;&nbsp; 1080970 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 24615 | &nbsp;&nbsp; 1955908 |
| &nbsp;&nbsp;&nbsp; Corning, Inc. | 13254 | &nbsp;&nbsp; 1993136 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 1100 | &nbsp;&nbsp; 530486 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 18819 | &nbsp;&nbsp; 4085417 |
|  |  | &nbsp;&nbsp; 10861835 |
| **Transportation — 0.5%** | **Transportation — 0.5%** | **Transportation — 0.5%** |
| &nbsp;&nbsp;&nbsp; Canadian National Railway Co. | 4651 | &nbsp;&nbsp; 521796 |
| &nbsp;&nbsp;&nbsp; CSX Corp. | 29741 | &nbsp;&nbsp; 1269643 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 5869 | &nbsp;&nbsp; 1191700 |
| &nbsp;&nbsp;&nbsp; Saia, Inc.† | 1993 | &nbsp;&nbsp; 807942 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 515 | &nbsp;&nbsp; 136465 |
|  |  | &nbsp;&nbsp; 3927546 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $715,824,848)<br>|  | &nbsp;&nbsp; 786527756 |
| **SHORT-TERM INVESTMENTS — 0.0%** | **SHORT-TERM INVESTMENTS — 0.0%** | **SHORT-TERM INVESTMENTS — 0.0%** |
| **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** | **Unaffiliated Investment Companies — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; T. Rowe Price Government Reserve Fund <br>3.73% <br>(cost $102,294)<br>| 102294 | &nbsp;&nbsp; 102294 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $715,927,142)<br>| 99.9<br> %<br>| &nbsp;&nbsp; 786630050 |
| Other assets less liabilities | 0.1 | &nbsp;&nbsp; 1147635 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $787777685 |

---

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

^ Prior to September 29, 2025, the Fund was known as Large Capital Growth Fund. <br> † Non-income producing security

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

ADR—American Depositary Receipt <br> NYSE—New York Stock Exchange

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $786527756 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $786527756 |
| Short-Term Investments | &nbsp;&nbsp; 102294 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 102294 |
| **Total Investments at Value** | &nbsp;&nbsp; $786630050 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $786630050 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Mid Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Aerospace/Defense — 2.4%** | **Aerospace/Defense — 2.4%** | **Aerospace/Defense — 2.4%** |
| &nbsp;&nbsp;&nbsp; AeroVironment, Inc.† | 24297 | &nbsp;&nbsp; $6128918 |
| &nbsp;&nbsp;&nbsp; ATI, Inc.† | 103392 | &nbsp;&nbsp; 16913897 |
| &nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. | 28062 | &nbsp;&nbsp; 19652661 |
| &nbsp;&nbsp;&nbsp; Hexcel Corp. | 60794 | &nbsp;&nbsp; 5634996 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc.† | 128367 | &nbsp;&nbsp; 11062668 |
| &nbsp;&nbsp;&nbsp; StandardAero, Inc.† | 147435 | &nbsp;&nbsp; 4540998 |
|  |  | &nbsp;&nbsp; 63934138 |
| **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** |
| &nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.† | 120379 | &nbsp;&nbsp; 6399348 |
| **Airlines — 0.4%** | **Airlines — 0.4%** | **Airlines — 0.4%** |
| &nbsp;&nbsp;&nbsp; Alaska Air Group, Inc.† | 88580 | &nbsp;&nbsp; 4570728 |
| &nbsp;&nbsp;&nbsp; American Airlines Group, Inc.† | 504101 | &nbsp;&nbsp; 6588600 |
|  |  | &nbsp;&nbsp; 11159328 |
| **Apparel — 0.5%** | **Apparel — 0.5%** | **Apparel — 0.5%** |
| &nbsp;&nbsp;&nbsp; Capri Holdings, Ltd.† | 90668 | &nbsp;&nbsp; 1859601 |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | 19455 | &nbsp;&nbsp; 1205043 |
| &nbsp;&nbsp;&nbsp; Crocs, Inc.† | 39648 | &nbsp;&nbsp; 3596470 |
| &nbsp;&nbsp;&nbsp; PVH Corp. | 36749 | &nbsp;&nbsp; 2520981 |
| &nbsp;&nbsp;&nbsp; VF Corp. | 250650 | &nbsp;&nbsp; 4867623 |
|  |  | &nbsp;&nbsp; 14049718 |
| **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** | **Auto Parts & Equipment — 1.1%** |
| &nbsp;&nbsp;&nbsp; Autoliv, Inc. | 53373 | &nbsp;&nbsp; 6325768 |
| &nbsp;&nbsp;&nbsp; BorgWarner, Inc. | 163375 | &nbsp;&nbsp; 9405499 |
| &nbsp;&nbsp;&nbsp; Gentex Corp. | 166615 | &nbsp;&nbsp; 3898791 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co.† | 217396 | &nbsp;&nbsp; 1793517 |
| &nbsp;&nbsp;&nbsp; Lear Corp. | 39613 | &nbsp;&nbsp; 5199206 |
| &nbsp;&nbsp;&nbsp; Visteon Corp. | 20991 | &nbsp;&nbsp; 2008209 |
|  |  | &nbsp;&nbsp; 28630990 |
| **Banks — 5.6%** | **Banks — 5.6%** | **Banks — 5.6%** |
| &nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 124287 | &nbsp;&nbsp; 3282420 |
| &nbsp;&nbsp;&nbsp; Bank OZK | 80576 | &nbsp;&nbsp; 3751619 |
| &nbsp;&nbsp;&nbsp; Columbia Banking System, Inc. | 228436 | &nbsp;&nbsp; 6499004 |
| &nbsp;&nbsp;&nbsp; Commerce Bancshares, Inc. | 98748 | &nbsp;&nbsp; 5035160 |
| &nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc. | 48831 | &nbsp;&nbsp; 6749421 |
| &nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 104618 | &nbsp;&nbsp; 11450440 |
| &nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | 98812 | &nbsp;&nbsp; 3056255 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | 373910 | &nbsp;&nbsp; 8895319 |
| &nbsp;&nbsp;&nbsp; Flagstar Financial, Inc. | 228606 | &nbsp;&nbsp; 2901010 |
| &nbsp;&nbsp;&nbsp; FNB Corp. | 273506 | &nbsp;&nbsp; 4646867 |
| &nbsp;&nbsp;&nbsp; Glacier Bancorp, Inc. | 98242 | &nbsp;&nbsp; 4469029 |
| &nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 63854 | &nbsp;&nbsp; 4202232 |
| &nbsp;&nbsp;&nbsp; Home BancShares, Inc. | 139590 | &nbsp;&nbsp; 3833141 |
| &nbsp;&nbsp;&nbsp; International Bancshares Corp. | 41299 | &nbsp;&nbsp; 2771576 |
| &nbsp;&nbsp;&nbsp; Old National Bancorp | 264666 | &nbsp;&nbsp; 6113785 |
| &nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 113710 | &nbsp;&nbsp; 10320320 |
| &nbsp;&nbsp;&nbsp; Prosperity Bancshares, Inc. | 72544 | &nbsp;&nbsp; 5104921 |
| &nbsp;&nbsp;&nbsp; SouthState Bank Corp. | 76251 | &nbsp;&nbsp; 7523686 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc.† | 34858 | &nbsp;&nbsp; 3321967 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | 54526 | &nbsp;&nbsp; 6318473 |
| &nbsp;&nbsp;&nbsp; United Bankshares, Inc. | 106984 | &nbsp;&nbsp; 4418439 |
| &nbsp;&nbsp;&nbsp; Valley National Bancorp | 366241 | &nbsp;&nbsp; 4618299 |
| &nbsp;&nbsp;&nbsp; Webster Financial Corp. | 122453 | &nbsp;&nbsp; 8832535 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp | 78829 | &nbsp;&nbsp; 6331545 |
| &nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 51145 | &nbsp;&nbsp; 7367949 |
| &nbsp;&nbsp;&nbsp; Zions Bancorp NA | 112752 | &nbsp;&nbsp; 6458434 |
|  |  | &nbsp;&nbsp; 148273846 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| &nbsp;&nbsp;&nbsp; Boston Beer Co., Inc., Class A† | 5995 | &nbsp;&nbsp; $1359546 |
| &nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.† | 122058 | &nbsp;&nbsp; 6543529 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 43200 | &nbsp;&nbsp; 8743680 |
|  |  | &nbsp;&nbsp; 16646755 |
| **Biotechnology — 3.1%** | **Biotechnology — 3.1%** | **Biotechnology — 3.1%** |
| &nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc.† | 105214 | &nbsp;&nbsp; 6656890 |
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.† | 146716 | &nbsp;&nbsp; 9056779 |
| &nbsp;&nbsp;&nbsp; Bio-Rad Laboratories, Inc., Class A#† | 13876 | &nbsp;&nbsp; 3863633 |
| &nbsp;&nbsp;&nbsp; Cytokinetics, Inc.#† | 93043 | &nbsp;&nbsp; 5789136 |
| &nbsp;&nbsp;&nbsp; Exelixis, Inc.† | 204755 | &nbsp;&nbsp; 9021505 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.† | 89808 | &nbsp;&nbsp; 6244350 |
| &nbsp;&nbsp;&nbsp; Illumina, Inc.† | 116276 | &nbsp;&nbsp; 15634471 |
| &nbsp;&nbsp;&nbsp; Roivant Sciences, Ltd.† | 334618 | &nbsp;&nbsp; 9683845 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp.† | 32766 | &nbsp;&nbsp; 16510787 |
|  |  | &nbsp;&nbsp; 82461396 |
| **Building Materials — 2.5%** | **Building Materials — 2.5%** | **Building Materials — 2.5%** |
| &nbsp;&nbsp;&nbsp; AAON, Inc.# | 51679 | &nbsp;&nbsp; 5229915 |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 31701 | &nbsp;&nbsp; 12514604 |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | 24487 | &nbsp;&nbsp; 5480191 |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | 91748 | &nbsp;&nbsp; 4985586 |
| &nbsp;&nbsp;&nbsp; Knife River Corp.† | 43274 | &nbsp;&nbsp; 3850521 |
| &nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp. | 48399 | &nbsp;&nbsp; 4101331 |
| &nbsp;&nbsp;&nbsp; Owens Corning | 62769 | &nbsp;&nbsp; 7662212 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 31662 | &nbsp;&nbsp; 6128813 |
| &nbsp;&nbsp;&nbsp; SPX Technologies, Inc.† | 37830 | &nbsp;&nbsp; 8585140 |
| &nbsp;&nbsp;&nbsp; Trex Co., Inc.† | 81910 | &nbsp;&nbsp; 3392712 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 44490 | &nbsp;&nbsp; 4578466 |
|  |  | &nbsp;&nbsp; 66509491 |
| **Chemicals — 1.2%** | **Chemicals — 1.2%** | **Chemicals — 1.2%** |
| &nbsp;&nbsp;&nbsp; Ashland, Inc. | 34905 | &nbsp;&nbsp; 2176676 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems, Ltd.† | 162926 | &nbsp;&nbsp; 5443358 |
| &nbsp;&nbsp;&nbsp; Cabot Corp. | 40629 | &nbsp;&nbsp; 3093492 |
| &nbsp;&nbsp;&nbsp; NewMarket Corp. | 5956 | &nbsp;&nbsp; 3728516 |
| &nbsp;&nbsp;&nbsp; Olin Corp. | 86150 | &nbsp;&nbsp; 2185625 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. | 97920 | &nbsp;&nbsp; 11174630 |
| &nbsp;&nbsp;&nbsp; Westlake Corp.# | 25264 | &nbsp;&nbsp; 2662320 |
|  |  | &nbsp;&nbsp; 30464617 |
| **Commercial Services — 3.1%** | **Commercial Services — 3.1%** | **Commercial Services — 3.1%** |
| &nbsp;&nbsp;&nbsp; API Group Corp.† | 281511 | &nbsp;&nbsp; 12515979 |
| &nbsp;&nbsp;&nbsp; Avis Budget Group, Inc.#† | 12731 | &nbsp;&nbsp; 1240127 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. | 92636 | &nbsp;&nbsp; 7302496 |
| &nbsp;&nbsp;&nbsp; Brink's Co. | 31728 | &nbsp;&nbsp; 3704879 |
| &nbsp;&nbsp;&nbsp; Euronet Worldwide, Inc.† | 29568 | &nbsp;&nbsp; 2056454 |
| &nbsp;&nbsp;&nbsp; FTI Consulting, Inc.† | 23032 | &nbsp;&nbsp; 3786921 |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co., Class B | 2595 | &nbsp;&nbsp; 2733080 |
| &nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.† | 21102 | &nbsp;&nbsp; 3356695 |
| &nbsp;&nbsp;&nbsp; H&R Block, Inc. | 96550 | &nbsp;&nbsp; 2956361 |
| &nbsp;&nbsp;&nbsp; Morningstar, Inc. | 18218 | &nbsp;&nbsp; 3336445 |
| &nbsp;&nbsp;&nbsp; Paylocity Holding Corp.† | 33640 | &nbsp;&nbsp; 3582324 |
| &nbsp;&nbsp;&nbsp; Service Corp. International | 107055 | &nbsp;&nbsp; 9011890 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc., Class A#† | 51077 | &nbsp;&nbsp; 2250963 |
| &nbsp;&nbsp;&nbsp; TransUnion | 148309 | &nbsp;&nbsp; 11649672 |
| &nbsp;&nbsp;&nbsp; UL Solutions, Inc., Class A | 57268 | &nbsp;&nbsp; 4808794 |
| &nbsp;&nbsp;&nbsp; Valvoline, Inc.† | 97076 | &nbsp;&nbsp; 3669473 |
| &nbsp;&nbsp;&nbsp; WEX, Inc.† | 26186 | &nbsp;&nbsp; 3906689 |
|  |  | &nbsp;&nbsp; 81869242 |
| **Computers — 3.9%** | **Computers — 3.9%** | **Computers — 3.9%** |
| &nbsp;&nbsp;&nbsp; ASGN, Inc.† | 32495 | &nbsp;&nbsp; 1394036 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc., Class A† | 16862 | &nbsp;&nbsp; 10288687 |

---

------

**VALIC Company I Mid Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp; Crane NXT Co.# | 37367 | &nbsp;&nbsp; $1804452 |
| &nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.† | 121198 | &nbsp;&nbsp; 3787437 |
| &nbsp;&nbsp;&nbsp; Genpact, Ltd. | 123719 | &nbsp;&nbsp; 4914119 |
| &nbsp;&nbsp;&nbsp; KBR, Inc. | 96639 | &nbsp;&nbsp; 4081065 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc.† | 174552 | &nbsp;&nbsp; 2152226 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.† | 53955 | &nbsp;&nbsp; 37817599 |
| &nbsp;&nbsp;&nbsp; Maximus, Inc. | 43034 | &nbsp;&nbsp; 3253801 |
| &nbsp;&nbsp;&nbsp; Okta, Inc.† | 128650 | &nbsp;&nbsp; 9327125 |
| &nbsp;&nbsp;&nbsp; Parsons Corp.#† | 40288 | &nbsp;&nbsp; 2659008 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc., Class A† | 237587 | &nbsp;&nbsp; 15257837 |
| &nbsp;&nbsp;&nbsp; Qualys, Inc.† | 27384 | &nbsp;&nbsp; 2532198 |
| &nbsp;&nbsp;&nbsp; Science Applications International Corp. | 35147 | &nbsp;&nbsp; 3242662 |
|  |  | &nbsp;&nbsp; 102512252 |
| **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** |
| &nbsp;&nbsp;&nbsp; Coty, Inc., Class A† | 286882 | &nbsp;&nbsp; 720074 |
| &nbsp;&nbsp;&nbsp; e.l.f. Beauty, Inc.#† | 45384 | &nbsp;&nbsp; 4177597 |
|  |  | &nbsp;&nbsp; 4897671 |
| **Distribution/Wholesale — 1.7%** | **Distribution/Wholesale — 1.7%** | **Distribution/Wholesale — 1.7%** |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A† | 145627 | &nbsp;&nbsp; 7887158 |
| &nbsp;&nbsp;&nbsp; RB Global, Inc. | 141290 | &nbsp;&nbsp; 14264638 |
| &nbsp;&nbsp;&nbsp; Watsco, Inc.# | 26671 | &nbsp;&nbsp; 11130609 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | 37150 | &nbsp;&nbsp; 10754925 |
|  |  | &nbsp;&nbsp; 44037330 |
| **Diversified Financial Services — 2.7%** | **Diversified Financial Services — 2.7%** | **Diversified Financial Services — 2.7%** |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. | 21482 | &nbsp;&nbsp; 6577359 |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. | 214084 | &nbsp;&nbsp; 8443473 |
| &nbsp;&nbsp;&nbsp; Evercore, Inc., Class A | 29538 | &nbsp;&nbsp; 9122516 |
| &nbsp;&nbsp;&nbsp; Federated Hermes, Inc. | 56437 | &nbsp;&nbsp; 3161036 |
| &nbsp;&nbsp;&nbsp; Hamilton Lane, Inc., Class A | 31117 | &nbsp;&nbsp; 3265418 |
| &nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 41486 | &nbsp;&nbsp; 6794162 |
| &nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 94377 | &nbsp;&nbsp; 4917042 |
| &nbsp;&nbsp;&nbsp; Jefferies Financial Group, Inc. | 125583 | &nbsp;&nbsp; 5575885 |
| &nbsp;&nbsp;&nbsp; SEI Investments Co. | 71064 | &nbsp;&nbsp; 5778925 |
| &nbsp;&nbsp;&nbsp; SLM Corp. | 155059 | &nbsp;&nbsp; 2905806 |
| &nbsp;&nbsp;&nbsp; Stifel Financial Corp. | 116648 | &nbsp;&nbsp; 8637747 |
| &nbsp;&nbsp;&nbsp; Voya Financial, Inc. | 72675 | &nbsp;&nbsp; 4860504 |
|  |  | &nbsp;&nbsp; 70039873 |
| **Electric — 1.8%** | **Electric — 1.8%** | **Electric — 1.8%** |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. | 57638 | &nbsp;&nbsp; 4245615 |
| &nbsp;&nbsp;&nbsp; IDACORP, Inc. | 41128 | &nbsp;&nbsp; 5921198 |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | 46848 | &nbsp;&nbsp; 3277486 |
| &nbsp;&nbsp;&nbsp; OGE Energy Corp. | 153853 | &nbsp;&nbsp; 7560337 |
| &nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. | 47419 | &nbsp;&nbsp; 4917350 |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | 85907 | &nbsp;&nbsp; 4635542 |
| &nbsp;&nbsp;&nbsp; Talen Energy Corp.† | 34755 | &nbsp;&nbsp; 12893062 |
| &nbsp;&nbsp;&nbsp; TXNM Energy, Inc. | 74864 | &nbsp;&nbsp; 4418473 |
|  |  | &nbsp;&nbsp; 47869063 |
| **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** |
| &nbsp;&nbsp;&nbsp; Acuity, Inc. | 23226 | &nbsp;&nbsp; 7004729 |
| &nbsp;&nbsp;&nbsp; Belden, Inc. | 30013 | &nbsp;&nbsp; 4300863 |
| &nbsp;&nbsp;&nbsp; EnerSys | 28187 | &nbsp;&nbsp; 4683270 |
| &nbsp;&nbsp;&nbsp; Littelfuse, Inc. | 19017 | &nbsp;&nbsp; 6702732 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc.#† | 27321 | &nbsp;&nbsp; 3672762 |
| &nbsp;&nbsp;&nbsp; Universal Display Corp. | 33766 | &nbsp;&nbsp; 3602495 |
|  |  | &nbsp;&nbsp; 29966851 |
| **Electronics — 4.8%** | **Electronics — 4.8%** | **Electronics — 4.8%** |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 28825 | &nbsp;&nbsp; 9672805 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp; Arrow Electronics, Inc.† | 39200 | &nbsp;&nbsp; $5964672 |
| &nbsp;&nbsp;&nbsp; Avnet, Inc. | 62110 | &nbsp;&nbsp; 4089322 |
| &nbsp;&nbsp;&nbsp; Coherent Corp.† | 119594 | &nbsp;&nbsp; 30966475 |
| &nbsp;&nbsp;&nbsp; Flex, Ltd.† | 281409 | &nbsp;&nbsp; 17734395 |
| &nbsp;&nbsp;&nbsp; nVent Electric PLC | 122794 | &nbsp;&nbsp; 14533898 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | 111254 | &nbsp;&nbsp; 4154224 |
| &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. | 57840 | &nbsp;&nbsp; 9069891 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc.† | 78913 | &nbsp;&nbsp; 8225891 |
| &nbsp;&nbsp;&nbsp; Vontier Corp. | 110811 | &nbsp;&nbsp; 4534386 |
| &nbsp;&nbsp;&nbsp; Woodward, Inc. | 45634 | &nbsp;&nbsp; 17649406 |
|  |  | &nbsp;&nbsp; 126595365 |
| **Energy-Alternate Sources — 0.4%** | **Energy-Alternate Sources — 0.4%** | **Energy-Alternate Sources — 0.4%** |
| &nbsp;&nbsp;&nbsp; Nextpower, Inc., Class A† | 112826 | &nbsp;&nbsp; 11858013 |
| **Engineering & Construction — 2.3%** | **Engineering & Construction — 2.3%** | **Engineering & Construction — 2.3%** |
| &nbsp;&nbsp;&nbsp; AECOM | 101148 | &nbsp;&nbsp; 9910481 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc.† | 22112 | &nbsp;&nbsp; 9287482 |
| &nbsp;&nbsp;&nbsp; Exponent, Inc. | 38098 | &nbsp;&nbsp; 2772772 |
| &nbsp;&nbsp;&nbsp; Fluor Corp.† | 123094 | &nbsp;&nbsp; 6439047 |
| &nbsp;&nbsp;&nbsp; MasTec, Inc.† | 46660 | &nbsp;&nbsp; 13905613 |
| &nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc.† | 23460 | &nbsp;&nbsp; 10043930 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp.† | 21315 | &nbsp;&nbsp; 9555515 |
|  |  | &nbsp;&nbsp; 61914840 |
| **Entertainment — 0.4%** | **Entertainment — 0.4%** | **Entertainment — 0.4%** |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 50589 | &nbsp;&nbsp; 4650647 |
| &nbsp;&nbsp;&nbsp; Vail Resorts, Inc.# | 27360 | &nbsp;&nbsp; 3715762 |
| &nbsp;&nbsp;&nbsp; Warner Music Group Corp., Class A | 110944 | &nbsp;&nbsp; 3172998 |
|  |  | &nbsp;&nbsp; 11539407 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc.† | 38357 | &nbsp;&nbsp; 11246273 |
| &nbsp;&nbsp;&nbsp; Tetra Tech, Inc. | 199642 | &nbsp;&nbsp; 7155169 |
|  |  | &nbsp;&nbsp; 18401442 |
| **Food — 2.0%** | **Food — 2.0%** | **Food — 2.0%** |
| &nbsp;&nbsp;&nbsp; Marzetti Company | 15478 | &nbsp;&nbsp; 2543655 |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc., Class A# | 302041 | &nbsp;&nbsp; 5406534 |
| &nbsp;&nbsp;&nbsp; Flowers Foods, Inc. | 164121 | &nbsp;&nbsp; 1621515 |
| &nbsp;&nbsp;&nbsp; Ingredion, Inc. | 48517 | &nbsp;&nbsp; 5698807 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co.† | 119756 | &nbsp;&nbsp; 11623517 |
| &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp. | 33049 | &nbsp;&nbsp; 1426395 |
| &nbsp;&nbsp;&nbsp; Post Holdings, Inc.† | 36506 | &nbsp;&nbsp; 3880588 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc.† | 74360 | &nbsp;&nbsp; 5492973 |
| &nbsp;&nbsp;&nbsp; US Foods Holding Corp.† | 169658 | &nbsp;&nbsp; 16390659 |
|  |  | &nbsp;&nbsp; 54084643 |
| **Food Service — 0.3%** | **Food Service — 0.3%** | **Food Service — 0.3%** |
| &nbsp;&nbsp;&nbsp; Aramark | 200737 | &nbsp;&nbsp; 8400843 |
| **Gas — 1.1%** | **Gas — 1.1%** | **Gas — 1.1%** |
| &nbsp;&nbsp;&nbsp; National Fuel Gas Co. | 68767 | &nbsp;&nbsp; 6259860 |
| &nbsp;&nbsp;&nbsp; New Jersey Resources Corp. | 76443 | &nbsp;&nbsp; 4146268 |
| &nbsp;&nbsp;&nbsp; ONE Gas, Inc. | 45821 | &nbsp;&nbsp; 4006588 |
| &nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | 49062 | &nbsp;&nbsp; 4325797 |
| &nbsp;&nbsp;&nbsp; Spire, Inc. | 45077 | &nbsp;&nbsp; 4129504 |
| &nbsp;&nbsp;&nbsp; UGI Corp. | 163557 | &nbsp;&nbsp; 6118667 |
|  |  | &nbsp;&nbsp; 28986684 |
| **Hand/Machine Tools — 0.7%** | **Hand/Machine Tools — 0.7%** | **Hand/Machine Tools — 0.7%** |
| &nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. | 41837 | &nbsp;&nbsp; 12009311 |
| &nbsp;&nbsp;&nbsp; MSA Safety, Inc. | 28106 | &nbsp;&nbsp; 5492193 |
|  |  | &nbsp;&nbsp; 17501504 |

---

------

**VALIC Company I Mid Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products — 2.0%** | **Healthcare-Products — 2.0%** | **Healthcare-Products — 2.0%** |
| &nbsp;&nbsp;&nbsp; Avantor, Inc.† | 520695 | &nbsp;&nbsp; $4712290 |
| &nbsp;&nbsp;&nbsp; Bruker Corp.# | 84638 | &nbsp;&nbsp; 3394830 |
| &nbsp;&nbsp;&nbsp; Dentsply Sirona, Inc. | 153603 | &nbsp;&nbsp; 2254892 |
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp.† | 125571 | &nbsp;&nbsp; 3667929 |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc., Class A† | 85082 | &nbsp;&nbsp; 8121928 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp.† | 35501 | &nbsp;&nbsp; 2247923 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.† | 50642 | &nbsp;&nbsp; 3793592 |
| &nbsp;&nbsp;&nbsp; LivaNova PLC† | 41702 | &nbsp;&nbsp; 2944161 |
| &nbsp;&nbsp;&nbsp; Masimo Corp.† | 34745 | &nbsp;&nbsp; 6092536 |
| &nbsp;&nbsp;&nbsp; Penumbra, Inc.† | 29908 | &nbsp;&nbsp; 10300016 |
| &nbsp;&nbsp;&nbsp; Repligen Corp.† | 40410 | &nbsp;&nbsp; 5201979 |
|  |  | &nbsp;&nbsp; 52732076 |
| **Healthcare-Services — 2.2%** | **Healthcare-Services — 2.2%** | **Healthcare-Services — 2.2%** |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 10817 | &nbsp;&nbsp; 4435078 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | 76839 | &nbsp;&nbsp; 8289391 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. | 43925 | &nbsp;&nbsp; 9407417 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc.† | 65796 | &nbsp;&nbsp; 5032736 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc.† | 16994 | &nbsp;&nbsp; 7677210 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc.† | 120795 | &nbsp;&nbsp; 3921006 |
| &nbsp;&nbsp;&nbsp; Sotera Health Co.† | 157756 | &nbsp;&nbsp; 2563535 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.† | 66880 | &nbsp;&nbsp; 16010403 |
|  |  | &nbsp;&nbsp; 57336776 |
| **Home Builders — 0.9%** | **Home Builders — 0.9%** | **Home Builders — 0.9%** |
| &nbsp;&nbsp;&nbsp; KB Home | 49460 | &nbsp;&nbsp; 3144667 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.† | 74632 | &nbsp;&nbsp; 4917502 |
| &nbsp;&nbsp;&nbsp; Thor Industries, Inc. | 40195 | &nbsp;&nbsp; 3863945 |
| &nbsp;&nbsp;&nbsp; Toll Brothers, Inc. | 73607 | &nbsp;&nbsp; 11573965 |
|  |  | &nbsp;&nbsp; 23500079 |
| **Home Furnishings — 0.8%** | **Home Furnishings — 0.8%** | **Home Furnishings — 0.8%** |
| &nbsp;&nbsp;&nbsp; Dolby Laboratories, Inc., Class A | 46726 | &nbsp;&nbsp; 3110550 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | 159723 | &nbsp;&nbsp; 14296806 |
| &nbsp;&nbsp;&nbsp; Whirlpool Corp.# | 47927 | &nbsp;&nbsp; 3279644 |
|  |  | &nbsp;&nbsp; 20687000 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| &nbsp;&nbsp;&nbsp; Scotts Miracle-Gro Co. | 33639 | &nbsp;&nbsp; 2358767 |
| **Insurance — 4.3%** | **Insurance — 4.3%** | **Insurance — 4.3%** |
| &nbsp;&nbsp;&nbsp; American Financial Group, Inc. | 52867 | &nbsp;&nbsp; 7030254 |
| &nbsp;&nbsp;&nbsp; Brighthouse Financial, Inc.† | 43191 | &nbsp;&nbsp; 2590596 |
| &nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | 72821 | &nbsp;&nbsp; 3044646 |
| &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. | 187555 | &nbsp;&nbsp; 7543462 |
| &nbsp;&nbsp;&nbsp; Essent Group, Ltd. | 73822 | &nbsp;&nbsp; 4491331 |
| &nbsp;&nbsp;&nbsp; Fidelity National Financial, Inc. | 193616 | &nbsp;&nbsp; 10238414 |
| &nbsp;&nbsp;&nbsp; First American Financial Corp. | 78752 | &nbsp;&nbsp; 5521303 |
| &nbsp;&nbsp;&nbsp; Hanover Insurance Group, Inc. | 27175 | &nbsp;&nbsp; 4908620 |
| &nbsp;&nbsp;&nbsp; Kemper Corp. | 45145 | &nbsp;&nbsp; 1459086 |
| &nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 16818 | &nbsp;&nbsp; 6553470 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 170869 | &nbsp;&nbsp; 4533155 |
| &nbsp;&nbsp;&nbsp; Old Republic International Corp. | 173857 | &nbsp;&nbsp; 7453250 |
| &nbsp;&nbsp;&nbsp; Primerica, Inc. | 24288 | &nbsp;&nbsp; 6160894 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc. | 50185 | &nbsp;&nbsp; 10826410 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings, Ltd. | 35214 | &nbsp;&nbsp; 10650826 |
| &nbsp;&nbsp;&nbsp; RLI Corp. | 70136 | &nbsp;&nbsp; 4370876 |
| &nbsp;&nbsp;&nbsp; Ryan Specialty Holdings, Inc. | 86238 | &nbsp;&nbsp; 3393465 |
| &nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | 46134 | &nbsp;&nbsp; 3877101 |
| &nbsp;&nbsp;&nbsp; Unum Group | 117566 | &nbsp;&nbsp; 8433009 |
|  |  | &nbsp;&nbsp; 113080168 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Internet — 0.8%** | **Internet — 0.8%** | **Internet — 0.8%** |
| &nbsp;&nbsp;&nbsp; Chewy, Inc., Class A† | 171878 | &nbsp;&nbsp; $4712895 |
| &nbsp;&nbsp;&nbsp; Hims & Hers Health, Inc.#† | 159082 | &nbsp;&nbsp; 2309871 |
| &nbsp;&nbsp;&nbsp; Maplebear, Inc.† | 140346 | &nbsp;&nbsp; 5264378 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc., Class A† | 455036 | &nbsp;&nbsp; 7794767 |
|  |  | &nbsp;&nbsp; 20081911 |
| **Iron/Steel — 1.5%** | **Iron/Steel — 1.5%** | **Iron/Steel — 1.5%** |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. | 37912 | &nbsp;&nbsp; 15091630 |
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs, Inc.† | 435080 | &nbsp;&nbsp; 4637953 |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | 84446 | &nbsp;&nbsp; 6189892 |
| &nbsp;&nbsp;&nbsp; Reliance, Inc. | 39763 | &nbsp;&nbsp; 12550793 |
|  |  | &nbsp;&nbsp; 38470268 |
| **Leisure Time — 0.6%** | **Leisure Time — 0.6%** | **Leisure Time — 0.6%** |
| &nbsp;&nbsp;&nbsp; Brunswick Corp. | 49668 | &nbsp;&nbsp; 3954566 |
| &nbsp;&nbsp;&nbsp; Harley-Davidson, Inc.# | 91135 | &nbsp;&nbsp; 1640430 |
| &nbsp;&nbsp;&nbsp; Planet Fitness, Inc., Class A† | 63373 | &nbsp;&nbsp; 5206092 |
| &nbsp;&nbsp;&nbsp; Polaris, Inc.# | 40517 | &nbsp;&nbsp; 2461003 |
| &nbsp;&nbsp;&nbsp; YETI Holdings, Inc.† | 59421 | &nbsp;&nbsp; 2597292 |
|  |  | &nbsp;&nbsp; 15859383 |
| **Lodging — 0.8%** | **Lodging — 0.8%** | **Lodging — 0.8%** |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | 43993 | &nbsp;&nbsp; 3661537 |
| &nbsp;&nbsp;&nbsp; Choice Hotels International, Inc.# | 15903 | &nbsp;&nbsp; 1675381 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations, Inc.† | 45240 | &nbsp;&nbsp; 2033990 |
| &nbsp;&nbsp;&nbsp; Hyatt Hotels Corp., Class A# | 31937 | &nbsp;&nbsp; 5157826 |
| &nbsp;&nbsp;&nbsp; Travel & Leisure Co. | 49124 | &nbsp;&nbsp; 3620439 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 57698 | &nbsp;&nbsp; 4719697 |
|  |  | &nbsp;&nbsp; 20868870 |
| **Machinery-Construction & Mining — 1.1%** | **Machinery-Construction & Mining — 1.1%** | **Machinery-Construction & Mining — 1.1%** |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. | 69566 | &nbsp;&nbsp; 14329205 |
| &nbsp;&nbsp;&nbsp; Oshkosh Corp. | 48306 | &nbsp;&nbsp; 8212986 |
| &nbsp;&nbsp;&nbsp; Terex Corp. | 86353 | &nbsp;&nbsp; 5940223 |
|  |  | &nbsp;&nbsp; 28482414 |
| **Machinery-Diversified — 3.9%** | **Machinery-Diversified — 3.9%** | **Machinery-Diversified — 3.9%** |
| &nbsp;&nbsp;&nbsp; AGCO Corp. | 47301 | &nbsp;&nbsp; 6456587 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | 28805 | &nbsp;&nbsp; 8139717 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.† | 33749 | &nbsp;&nbsp; 6996168 |
| &nbsp;&nbsp;&nbsp; CNH Industrial NV | 675826 | &nbsp;&nbsp; 8312660 |
| &nbsp;&nbsp;&nbsp; Cognex Corp. | 127993 | &nbsp;&nbsp; 6962819 |
| &nbsp;&nbsp;&nbsp; Crane Co. | 37388 | &nbsp;&nbsp; 7497416 |
| &nbsp;&nbsp;&nbsp; Esab Corp. | 44718 | &nbsp;&nbsp; 5642070 |
| &nbsp;&nbsp;&nbsp; Flowserve Corp. | 96483 | &nbsp;&nbsp; 8540675 |
| &nbsp;&nbsp;&nbsp; Graco, Inc. | 126045 | &nbsp;&nbsp; 11838146 |
| &nbsp;&nbsp;&nbsp; Middleby Corp.† | 35390 | &nbsp;&nbsp; 5975955 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. | 50701 | &nbsp;&nbsp; 11203907 |
| &nbsp;&nbsp;&nbsp; Toro Co. | 74736 | &nbsp;&nbsp; 7388401 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc., Class A | 20857 | &nbsp;&nbsp; 6856530 |
|  |  | &nbsp;&nbsp; 101811051 |
| **Media — 0.6%** | **Media — 0.6%** | **Media — 0.6%** |
| &nbsp;&nbsp;&nbsp; New York Times Co., Class A | 123388 | &nbsp;&nbsp; 9845129 |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | 21770 | &nbsp;&nbsp; 5464705 |
|  |  | &nbsp;&nbsp; 15309834 |
| **Metal Fabricate/Hardware — 1.7%** | **Metal Fabricate/Hardware — 1.7%** | **Metal Fabricate/Hardware — 1.7%** |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems, Inc. | 54329 | &nbsp;&nbsp; 9308731 |
| &nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 84340 | &nbsp;&nbsp; 9948746 |
| &nbsp;&nbsp;&nbsp; RBC Bearings, Inc.† | 23948 | &nbsp;&nbsp; 13792132 |
| &nbsp;&nbsp;&nbsp; Timken Co. | 49041 | &nbsp;&nbsp; 5315064 |
| &nbsp;&nbsp;&nbsp; Valmont Industries, Inc. | 14992 | &nbsp;&nbsp; 6895271 |
|  |  | &nbsp;&nbsp; 45259944 |

---

------

**VALIC Company I Mid Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Mining — 1.9%** | **Mining — 1.9%** | **Mining — 1.9%** |
| &nbsp;&nbsp;&nbsp; Alcoa Corp. | 196933 | &nbsp;&nbsp; $12225600 |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. | 509590 | &nbsp;&nbsp; 12693887 |
| &nbsp;&nbsp;&nbsp; MP Materials Corp.† | 102502 | &nbsp;&nbsp; 6034293 |
| &nbsp;&nbsp;&nbsp; Royal Gold, Inc. | 61658 | &nbsp;&nbsp; 18484452 |
|  |  | &nbsp;&nbsp; 49438232 |
| **Miscellaneous Manufacturing — 2.1%** | **Miscellaneous Manufacturing — 2.1%** | **Miscellaneous Manufacturing — 2.1%** |
| &nbsp;&nbsp;&nbsp; Avient Corp. | 69675 | &nbsp;&nbsp; 2861552 |
| &nbsp;&nbsp;&nbsp; Donaldson Co., Inc. | 87884 | &nbsp;&nbsp; 8152120 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. | 115367 | &nbsp;&nbsp; 15280359 |
| &nbsp;&nbsp;&nbsp; Fabrinet† | 27264 | &nbsp;&nbsp; 14876057 |
| &nbsp;&nbsp;&nbsp; ITT, Inc. | 64654 | &nbsp;&nbsp; 13086616 |
|  |  | &nbsp;&nbsp; 54256704 |
| **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** | **Oil & Gas — 2.9%** |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp.† | 223814 | &nbsp;&nbsp; 8238593 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | 43274 | &nbsp;&nbsp; 4689603 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp.† | 102608 | &nbsp;&nbsp; 4286962 |
| &nbsp;&nbsp;&nbsp; HF Sinclair Corp. | 118986 | &nbsp;&nbsp; 5950490 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. | 89210 | &nbsp;&nbsp; 4585394 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. | 102468 | &nbsp;&nbsp; 3396814 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 213298 | &nbsp;&nbsp; 10790746 |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc., Class A | 62815 | &nbsp;&nbsp; 2236214 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp., Class A | 530283 | &nbsp;&nbsp; 9698876 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. | 180946 | &nbsp;&nbsp; 7469451 |
| &nbsp;&nbsp;&nbsp; Valaris, Ltd.† | 49416 | &nbsp;&nbsp; 4736524 |
| &nbsp;&nbsp;&nbsp; Viper Energy, Inc., Class A | 128629 | &nbsp;&nbsp; 5986394 |
| &nbsp;&nbsp;&nbsp; Weatherford International PLC | 54779 | &nbsp;&nbsp; 5776993 |
|  |  | &nbsp;&nbsp; 77843054 |
| **Oil & Gas Services — 1.0%** | **Oil & Gas Services — 1.0%** | **Oil & Gas Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; NOV, Inc. | 278558 | &nbsp;&nbsp; 5643585 |
| &nbsp;&nbsp;&nbsp; TechnipFMC PLC | 307839 | &nbsp;&nbsp; 20412804 |
|  |  | &nbsp;&nbsp; 26056389 |
| **Packaging & Containers — 1.1%** | **Packaging & Containers — 1.1%** | **Packaging & Containers — 1.1%** |
| &nbsp;&nbsp;&nbsp; AptarGroup, Inc. | 50113 | &nbsp;&nbsp; 7201739 |
| &nbsp;&nbsp;&nbsp; Crown Holdings, Inc. | 87074 | &nbsp;&nbsp; 9978680 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding Co. | 225383 | &nbsp;&nbsp; 2756434 |
| &nbsp;&nbsp;&nbsp; Greif, Inc., Class A | 19986 | &nbsp;&nbsp; 1452383 |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. | 66979 | &nbsp;&nbsp; 3218341 |
| &nbsp;&nbsp;&nbsp; Sonoco Products Co. | 75325 | &nbsp;&nbsp; 4253603 |
|  |  | &nbsp;&nbsp; 28861180 |
| **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** | **Pharmaceuticals — 1.2%** |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc.† | 97374 | &nbsp;&nbsp; 1790708 |
| &nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc.† | 379449 | &nbsp;&nbsp; 10017454 |
| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC† | 46406 | &nbsp;&nbsp; 8818068 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.† | 75738 | &nbsp;&nbsp; 10016350 |
|  |  | &nbsp;&nbsp; 30642580 |
| **Pipelines — 0.6%** | **Pipelines — 0.6%** | **Pipelines — 0.6%** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Corp. | 254609 | &nbsp;&nbsp; 5723610 |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. | 77647 | &nbsp;&nbsp; 10780510 |
|  |  | &nbsp;&nbsp; 16504120 |
| **Private Equity — 0.4%** | **Private Equity — 0.4%** | **Private Equity — 0.4%** |
| &nbsp;&nbsp;&nbsp; Carlyle Group, Inc. | 197201 | &nbsp;&nbsp; 10252480 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| &nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.† | 36042 | &nbsp;&nbsp; 11373053 |
| **REITS — 6.7%** | **REITS — 6.7%** | **REITS — 6.7%** |
| &nbsp;&nbsp;&nbsp; Agree Realty Corp. | 87626 | &nbsp;&nbsp; 7052141 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 135103 | &nbsp;&nbsp; $7057781 |
| &nbsp;&nbsp;&nbsp; American Homes 4 Rent, Class A | 248974 | &nbsp;&nbsp; 7469220 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. | 519349 | &nbsp;&nbsp; 12069671 |
| &nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 232941 | &nbsp;&nbsp; 7051124 |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties | 86158 | &nbsp;&nbsp; 2738101 |
| &nbsp;&nbsp;&nbsp; Cousins Properties, Inc. | 128273 | &nbsp;&nbsp; 2970803 |
| &nbsp;&nbsp;&nbsp; CubeSmart | 174149 | &nbsp;&nbsp; 7164490 |
| &nbsp;&nbsp;&nbsp; EastGroup Properties, Inc. | 40673 | &nbsp;&nbsp; 7984517 |
| &nbsp;&nbsp;&nbsp; EPR Properties | 58147 | &nbsp;&nbsp; 3454513 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 148025 | &nbsp;&nbsp; 9941359 |
| &nbsp;&nbsp;&nbsp; First Industrial Realty Trust, Inc. | 100773 | &nbsp;&nbsp; 6362807 |
| &nbsp;&nbsp;&nbsp; Gaming & Leisure Properties, Inc. | 216130 | &nbsp;&nbsp; 10570918 |
| &nbsp;&nbsp;&nbsp; Healthcare Realty Trust, Inc. | 268536 | &nbsp;&nbsp; 4954489 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | 181672 | &nbsp;&nbsp; 3010305 |
| &nbsp;&nbsp;&nbsp; Kilroy Realty Corp. | 83806 | &nbsp;&nbsp; 2499095 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group Trust# | 164761 | &nbsp;&nbsp; 4292024 |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co., Class A | 66336 | &nbsp;&nbsp; 9137121 |
| &nbsp;&nbsp;&nbsp; National Storage Affiliates Trust | 54514 | &nbsp;&nbsp; 1909080 |
| &nbsp;&nbsp;&nbsp; NNN REIT, Inc. | 145041 | &nbsp;&nbsp; 6573258 |
| &nbsp;&nbsp;&nbsp; Omega Healthcare Investors, Inc. | 225693 | &nbsp;&nbsp; 10894201 |
| &nbsp;&nbsp;&nbsp; Park Hotels & Resorts, Inc.# | 154671 | &nbsp;&nbsp; 1749329 |
| &nbsp;&nbsp;&nbsp; Rayonier, Inc. | 212151 | &nbsp;&nbsp; 4559125 |
| &nbsp;&nbsp;&nbsp; Rexford Industrial Realty, Inc. | 176777 | &nbsp;&nbsp; 6623834 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | 190426 | &nbsp;&nbsp; 3913254 |
| &nbsp;&nbsp;&nbsp; STAG Industrial, Inc. | 142619 | &nbsp;&nbsp; 5593517 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. | 265849 | &nbsp;&nbsp; 4734771 |
| &nbsp;&nbsp;&nbsp; Vornado Realty Trust | 123203 | &nbsp;&nbsp; 3397939 |
| &nbsp;&nbsp;&nbsp; WP Carey, Inc. | 166645 | &nbsp;&nbsp; 12440049 |
|  |  | &nbsp;&nbsp; 178168836 |
| **Retail — 5.7%** | **Retail — 5.7%** | **Retail — 5.7%** |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co., Class A† | 35947 | &nbsp;&nbsp; 3515617 |
| &nbsp;&nbsp;&nbsp; AutoNation, Inc.† | 20816 | &nbsp;&nbsp; 4062451 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | 157464 | &nbsp;&nbsp; 3583881 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc.† | 100618 | &nbsp;&nbsp; 9940052 |
| &nbsp;&nbsp;&nbsp; Burlington Stores, Inc.† | 47384 | &nbsp;&nbsp; 14540728 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | 28295 | &nbsp;&nbsp; 19398769 |
| &nbsp;&nbsp;&nbsp; Cava Group, Inc.#† | 76177 | &nbsp;&nbsp; 6282317 |
| &nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. | 50234 | &nbsp;&nbsp; 10229149 |
| &nbsp;&nbsp;&nbsp; Dutch Bros, Inc., Class A† | 97012 | &nbsp;&nbsp; 5200813 |
| &nbsp;&nbsp;&nbsp; FirstCash Holdings, Inc. | 29660 | &nbsp;&nbsp; 5718151 |
| &nbsp;&nbsp;&nbsp; Five Below, Inc.† | 42114 | &nbsp;&nbsp; 9413742 |
| &nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc., Class A† | 83539 | &nbsp;&nbsp; 5771710 |
| &nbsp;&nbsp;&nbsp; GameStop Corp., Class A† | 314699 | &nbsp;&nbsp; 7562217 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. | 172853 | &nbsp;&nbsp; 4846798 |
| &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. | 18519 | &nbsp;&nbsp; 5177542 |
| &nbsp;&nbsp;&nbsp; Macy's, Inc. | 205055 | &nbsp;&nbsp; 4055988 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc., Class A | 34937 | &nbsp;&nbsp; 3278488 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 13019 | &nbsp;&nbsp; 5087044 |
| &nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc.† | 47434 | &nbsp;&nbsp; 5080181 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. | 14055 | &nbsp;&nbsp; 2213944 |
| &nbsp;&nbsp;&nbsp; RH† | 11635 | &nbsp;&nbsp; 1928036 |
| &nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. | 50515 | &nbsp;&nbsp; 9237678 |
| &nbsp;&nbsp;&nbsp; Wingstop, Inc.# | 21221 | &nbsp;&nbsp; 5507062 |
|  |  | &nbsp;&nbsp; 151632358 |
| **Semiconductors — 2.8%** | **Semiconductors — 2.8%** | **Semiconductors — 2.8%** |
| &nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc.† | 94720 | &nbsp;&nbsp; 3454438 |
| &nbsp;&nbsp;&nbsp; Amkor Technology, Inc. | 86532 | &nbsp;&nbsp; 4137960 |
| &nbsp;&nbsp;&nbsp; Cirrus Logic, Inc.† | 38971 | &nbsp;&nbsp; 5499588 |
| &nbsp;&nbsp;&nbsp; IPG Photonics Corp.#† | 19221 | &nbsp;&nbsp; 2528907 |
| &nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.† | 103917 | &nbsp;&nbsp; 9936544 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc.† | 48696 | &nbsp;&nbsp; 12082451 |

---

------

**VALIC Company I Mid Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp; MKS, Inc. | 51079 | &nbsp;&nbsp; $12486772 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc.† | 37429 | &nbsp;&nbsp; 8080547 |
| &nbsp;&nbsp;&nbsp; Rambus, Inc.† | 82211 | &nbsp;&nbsp; 8193148 |
| &nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.† | 25419 | &nbsp;&nbsp; 5198948 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc.† | 29399 | &nbsp;&nbsp; 2394843 |
|  |  | &nbsp;&nbsp; 73994146 |
| **Software — 3.2%** | **Software — 3.2%** | **Software — 3.2%** |
| &nbsp;&nbsp;&nbsp; Appfolio, Inc., Class A† | 17558 | &nbsp;&nbsp; 3121110 |
| &nbsp;&nbsp;&nbsp; Bentley Systems, Inc., Class B | 113335 | &nbsp;&nbsp; 4142394 |
| &nbsp;&nbsp;&nbsp; BILL Holdings, Inc.† | 68075 | &nbsp;&nbsp; 3030018 |
| &nbsp;&nbsp;&nbsp; Blackbaud, Inc.† | 27655 | &nbsp;&nbsp; 1342374 |
| &nbsp;&nbsp;&nbsp; Commvault Systems, Inc.† | 33674 | &nbsp;&nbsp; 2864984 |
| &nbsp;&nbsp;&nbsp; Concentrix Corp.# | 34013 | &nbsp;&nbsp; 1115626 |
| &nbsp;&nbsp;&nbsp; DocuSign, Inc.† | 153581 | &nbsp;&nbsp; 6921896 |
| &nbsp;&nbsp;&nbsp; Doximity, Inc., Class A† | 104541 | &nbsp;&nbsp; 2564391 |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc., Class A† | 133205 | &nbsp;&nbsp; 3328793 |
| &nbsp;&nbsp;&nbsp; Duolingo, Inc.† | 30558 | &nbsp;&nbsp; 3086358 |
| &nbsp;&nbsp;&nbsp; Dynatrace, Inc.† | 230243 | &nbsp;&nbsp; 8270329 |
| &nbsp;&nbsp;&nbsp; Guidewire Software, Inc.† | 64560 | &nbsp;&nbsp; 9381859 |
| &nbsp;&nbsp;&nbsp; Manhattan Associates, Inc.† | 45856 | &nbsp;&nbsp; 6210278 |
| &nbsp;&nbsp;&nbsp; Nutanix, Inc., Class A† | 206797 | &nbsp;&nbsp; 7916189 |
| &nbsp;&nbsp;&nbsp; Pegasystems, Inc. | 69993 | &nbsp;&nbsp; 3060794 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A† | 115342 | &nbsp;&nbsp; 13951768 |
| &nbsp;&nbsp;&nbsp; UiPath, Inc., Class A† | 321003 | &nbsp;&nbsp; 3444362 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies, Inc.† | 210704 | &nbsp;&nbsp; 1308472 |
|  |  | &nbsp;&nbsp; 85061995 |
| **Telecommunications — 0.4%** | **Telecommunications — 0.4%** | **Telecommunications — 0.4%** |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A† | 102803 | &nbsp;&nbsp; 11876831 |
| **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.† | 236518 | &nbsp;&nbsp; 4008980 |
| **Transportation — 2.2%** | **Transportation — 2.2%** | **Transportation — 2.2%** |
| &nbsp;&nbsp;&nbsp; GXO Logistics, Inc.† | 89340 | &nbsp;&nbsp; 5613232 |
| &nbsp;&nbsp;&nbsp; Kirby Corp.† | 41392 | &nbsp;&nbsp; 5372682 |
| &nbsp;&nbsp;&nbsp; Knight-Swift Transportation Holdings, Inc. | 123977 | &nbsp;&nbsp; 7800633 |
| &nbsp;&nbsp;&nbsp; Landstar System, Inc. | 26136 | &nbsp;&nbsp; 4258861 |
| &nbsp;&nbsp;&nbsp; Ryder System, Inc. | 30727 | &nbsp;&nbsp; 6807874 |
| &nbsp;&nbsp;&nbsp; Saia, Inc.† | 20347 | &nbsp;&nbsp; 8248470 |
| &nbsp;&nbsp;&nbsp; XPO, Inc.† | 89329 | &nbsp;&nbsp; 18801075 |
|  |  | &nbsp;&nbsp; 56902827 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** | **Trucking & Leasing — 0.2%** |
| &nbsp;&nbsp;&nbsp; GATX Corp. | 27264 | &nbsp;&nbsp; $5021211 |
| **Water — 0.3%** | **Water — 0.3%** | **Water — 0.3%** |
| &nbsp;&nbsp;&nbsp; Essential Utilities, Inc. | 216106 | &nbsp;&nbsp; 8637757 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $1,824,147,495)<br>|  | &nbsp;&nbsp; 2625375924 |
| **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** | **SHORT-TERM INVESTMENTS — 1.0%** |
| **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** | **Unaffiliated Investment Companies — 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class <br>3.63%(1)<br>| 7094961 | &nbsp;&nbsp; 7094961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2)<br>| 19645932 | &nbsp;&nbsp; 19645932 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $26,740,893)<br>|  | &nbsp;&nbsp; 26740893 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $1,850,888,388)<br>| 100.4<br> %<br>| &nbsp;&nbsp; 2652116817 |
| Other assets less liabilities | (0.4)<br>| &nbsp;&nbsp; (11734956)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $2640381861 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| (1) | The rate shown is the 7-day yield as of February 28, 2026. |
| (2) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $53,014,614. <br> This was secured by collateral of $19,645,932, which was received in cash and <br> subsequently invested in short-term investments currently valued at $19,645,932 as <br> reported in the Portfolio of Investments. Additional collateral of $35,725,959 was <br> received in the form of fixed income pooled securities, which the Fund cannot sell or <br> repledge and accordingly, are not reflected in the Fund's assets and liabilities. The <br> components of the fixed income pooled securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $15088 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 75965 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 574660 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 08/15/2055 | 35060246 |

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | **Pay/** <br>**Receive**<br>| &nbsp;&nbsp; **Underlying** <br>**Reference**<br>| **Number of** <br>**Contracts**<br>| **Financing** <br>**Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Notional** <br>**Amount**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value** |
| **Insurance** |  |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch |  | Equitable Holdings, Inc. | &nbsp;&nbsp; 3192 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/16/2028 | &nbsp;&nbsp; $144438 | &nbsp;&nbsp; $(16056)<br>| &nbsp;&nbsp; $(16056)<br>|
| BNP Paribas |  | Equitable Holdings, Inc. | &nbsp;&nbsp; 28075 | 3.83% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 05/24/2027 | &nbsp;&nbsp; 1270394 | &nbsp;&nbsp; (141217)<br>| &nbsp;&nbsp; (141217)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; $(157273)<br>| &nbsp;&nbsp; $(157273)<br>|
| &nbsp;&nbsp;&nbsp; OBFR—Overnight Bank <br> Funding Rate<br>|  |  |  |  |  |  |  |  |  |

---

------

**VALIC Company I Mid Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 47 | Long | S&P Mid Cap 400 E-Mini Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $16857467 | &nbsp;&nbsp;&nbsp;&nbsp; $16816130 | &nbsp;&nbsp;&nbsp;&nbsp; $(41337)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $2625375924 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2625375924 |
| Short-Term Investments | &nbsp;&nbsp; 26740893 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 26740893 |
| **Total Investments at Value** | &nbsp;&nbsp; $2652116817 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2652116817 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $157273 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $157273 |
| Futures Contracts | &nbsp;&nbsp; 41337 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 41337 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $41337 | &nbsp;&nbsp; $157273 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $198610 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Mid Cap Strategic Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.8%** | **COMMON STOCKS — 97.8%** | **COMMON STOCKS — 97.8%** |
| **Aerospace/Defense — 6.2%** | **Aerospace/Defense — 6.2%** | **Aerospace/Defense — 6.2%** |
| &nbsp;&nbsp;&nbsp; AeroVironment, Inc.† | 30349 | &nbsp;&nbsp; $7655535 |
| &nbsp;&nbsp;&nbsp; Archer Aviation, Inc., Class A#† | 214434 | &nbsp;&nbsp; 1526770 |
| &nbsp;&nbsp;&nbsp; HEICO Corp. | 38531 | &nbsp;&nbsp; 12309113 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 91365 | &nbsp;&nbsp; 23986053 |
| &nbsp;&nbsp;&nbsp; Joby Aviation, Inc.#† | 144249 | &nbsp;&nbsp; 1451145 |
| &nbsp;&nbsp;&nbsp; Leonardo DRS, Inc. | 176150 | &nbsp;&nbsp; 7643149 |
| &nbsp;&nbsp;&nbsp; Rocket Lab Corp.† | 146497 | &nbsp;&nbsp; 10122943 |
| &nbsp;&nbsp;&nbsp; StandardAero, Inc.† | 115447 | &nbsp;&nbsp; 3555768 |
|  |  | &nbsp;&nbsp; 68250476 |
| **Airlines — 0.7%** | **Airlines — 0.7%** | **Airlines — 0.7%** |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings PLC ADR | 106981 | &nbsp;&nbsp; 7220148 |
| **Apparel — 1.6%** | **Apparel — 1.6%** | **Apparel — 1.6%** |
| &nbsp;&nbsp;&nbsp; Gildan Activewear, Inc. | 142347 | &nbsp;&nbsp; 9692407 |
| &nbsp;&nbsp;&nbsp; On Holding AG, Class A† | 158929 | &nbsp;&nbsp; 7387020 |
|  |  | &nbsp;&nbsp; 17079427 |
| **Auto Manufacturers — 1.5%** | **Auto Manufacturers — 1.5%** | **Auto Manufacturers — 1.5%** |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | 15690 | &nbsp;&nbsp; 9160920 |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | 54684 | &nbsp;&nbsp; 6895106 |
|  |  | &nbsp;&nbsp; 16056026 |
| **Beverages — 0.3%** | **Beverages — 0.3%** | **Beverages — 0.3%** |
| &nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.† | 52225 | &nbsp;&nbsp; 2799782 |
| **Biotechnology — 4.3%** | **Biotechnology — 4.3%** | **Biotechnology — 4.3%** |
| &nbsp;&nbsp;&nbsp; ADMA Biologics, Inc.† | 332400 | &nbsp;&nbsp; 5175468 |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.† | 21350 | &nbsp;&nbsp; 7107842 |
| &nbsp;&nbsp;&nbsp; Argenx SE ADR† | 6071 | &nbsp;&nbsp; 4655971 |
| &nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc.† | 35228 | &nbsp;&nbsp; 2341958 |
| &nbsp;&nbsp;&nbsp; Corteva, Inc. | 95670 | &nbsp;&nbsp; 7665081 |
| &nbsp;&nbsp;&nbsp; Illumina, Inc.† | 24531 | &nbsp;&nbsp; 3298438 |
| &nbsp;&nbsp;&nbsp; Insmed, Inc.† | 61625 | &nbsp;&nbsp; 9202461 |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines, Inc.† | 5315 | &nbsp;&nbsp; 1789826 |
| &nbsp;&nbsp;&nbsp; Revolution Medicines, Inc.† | 19646 | &nbsp;&nbsp; 2004285 |
| &nbsp;&nbsp;&nbsp; Royalty Pharma PLC, Class A | 84597 | &nbsp;&nbsp; 3909227 |
|  |  | &nbsp;&nbsp; 47150557 |
| **Building Materials — 1.2%** | **Building Materials — 1.2%** | **Building Materials — 1.2%** |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | 10115 | &nbsp;&nbsp; 6843506 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 14400 | &nbsp;&nbsp; 6657408 |
|  |  | &nbsp;&nbsp; 13500914 |
| **Commercial Services — 5.0%** | **Commercial Services — 5.0%** | **Commercial Services — 5.0%** |
| &nbsp;&nbsp;&nbsp; API Group Corp.† | 259760 | &nbsp;&nbsp; 11548929 |
| &nbsp;&nbsp;&nbsp; Cimpress PLC† | 37926 | &nbsp;&nbsp; 2770494 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 25497 | &nbsp;&nbsp; 14356851 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | 329056 | &nbsp;&nbsp; 2023031 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC ADR# | 140081 | &nbsp;&nbsp; 4381734 |
| &nbsp;&nbsp;&nbsp; TransUnion | 40142 | &nbsp;&nbsp; 3153154 |
| &nbsp;&nbsp;&nbsp; UL Solutions, Inc., Class A | 28600 | &nbsp;&nbsp; 2401542 |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. | 7000 | &nbsp;&nbsp; 5880000 |
| &nbsp;&nbsp;&nbsp; WEX, Inc.† | 53163 | &nbsp;&nbsp; 7931388 |
|  |  | &nbsp;&nbsp; 54447123 |
| **Computers — 1.9%** | **Computers — 1.9%** | **Computers — 1.9%** |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.#† | 8785 | &nbsp;&nbsp; 6157494 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 8450 | &nbsp;&nbsp; 5368792 |
| &nbsp;&nbsp;&nbsp; Varonis Systems, Inc.† | 141076 | &nbsp;&nbsp; 3258856 |
| &nbsp;&nbsp;&nbsp; Zscaler, Inc.† | 39365 | &nbsp;&nbsp; 5786261 |
|  |  | &nbsp;&nbsp; 20571403 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Cosmetics/Personal Care — 0.6%** | **Cosmetics/Personal Care — 0.6%** | **Cosmetics/Personal Care — 0.6%** |
| &nbsp;&nbsp;&nbsp; e.l.f. Beauty, Inc.#† | 69074 | &nbsp;&nbsp; $6358262 |
| **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** |
| &nbsp;&nbsp;&nbsp; RB Global, Inc. | 58297 | &nbsp;&nbsp; 5885665 |
| **Diversified Financial Services — 4.0%** | **Diversified Financial Services — 4.0%** | **Diversified Financial Services — 4.0%** |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 19856 | &nbsp;&nbsp; 9334703 |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 11537 | &nbsp;&nbsp; 3457870 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 26640 | &nbsp;&nbsp; 2536128 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc., Class A† | 21910 | &nbsp;&nbsp; 3852873 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 38188 | &nbsp;&nbsp; 11470911 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc., Class A | 330614 | &nbsp;&nbsp; 6013869 |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc., Class A | 54443 | &nbsp;&nbsp; 6710372 |
|  |  | &nbsp;&nbsp; 43376726 |
| **Electric — 3.6%** | **Electric — 3.6%** | **Electric — 3.6%** |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 139603 | &nbsp;&nbsp; 10098881 |
| &nbsp;&nbsp;&nbsp; Ameren Corp. | 65430 | &nbsp;&nbsp; 7411910 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. | 44286 | &nbsp;&nbsp; 6564957 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | 87754 | &nbsp;&nbsp; 15259543 |
|  |  | &nbsp;&nbsp; 39335291 |
| **Electronics — 4.2%** | **Electronics — 4.2%** | **Electronics — 4.2%** |
| &nbsp;&nbsp;&nbsp; Celestica, Inc.† | 33551 | &nbsp;&nbsp; 9314764 |
| &nbsp;&nbsp;&nbsp; Flex, Ltd.† | 245676 | &nbsp;&nbsp; 15482502 |
| &nbsp;&nbsp;&nbsp; Garmin, Ltd. | 37945 | &nbsp;&nbsp; 9593634 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | 190722 | &nbsp;&nbsp; 7121560 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 20443 | &nbsp;&nbsp; 4704956 |
|  |  | &nbsp;&nbsp; 46217416 |
| **Energy-Alternate Sources — 0.5%** | **Energy-Alternate Sources — 0.5%** | **Energy-Alternate Sources — 0.5%** |
| &nbsp;&nbsp;&nbsp; Shoals Technologies Group, Inc., Class A† | 855760 | &nbsp;&nbsp; 5074657 |
| **Engineering & Construction — 1.4%** | **Engineering & Construction — 1.4%** | **Engineering & Construction — 1.4%** |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | 11032 | &nbsp;&nbsp; 15768810 |
| **Entertainment — 1.3%** | **Entertainment — 1.3%** | **Entertainment — 1.3%** |
| &nbsp;&nbsp;&nbsp; Entain PLC | 241020 | &nbsp;&nbsp; 1867662 |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.#† | 77402 | &nbsp;&nbsp; 12549960 |
|  |  | &nbsp;&nbsp; 14417622 |
| **Environmental Control — 1.0%** | **Environmental Control — 1.0%** | **Environmental Control — 1.0%** |
| &nbsp;&nbsp;&nbsp; Clean Harbors, Inc.† | 27588 | &nbsp;&nbsp; 8088802 |
| &nbsp;&nbsp;&nbsp; Veralto Corp. | 26344 | &nbsp;&nbsp; 2566696 |
|  |  | &nbsp;&nbsp; 10655498 |
| **Food Service — 0.8%** | **Food Service — 0.8%** | **Food Service — 0.8%** |
| &nbsp;&nbsp;&nbsp; Aramark | 198775 | &nbsp;&nbsp; 8318734 |
| **Healthcare-Products — 9.3%** | **Healthcare-Products — 9.3%** | **Healthcare-Products — 9.3%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 101058 | &nbsp;&nbsp; 7766307 |
| &nbsp;&nbsp;&nbsp; Cooper Cos., Inc.† | 27373 | &nbsp;&nbsp; 2290299 |
| &nbsp;&nbsp;&nbsp; Glaukos Corp.† | 8950 | &nbsp;&nbsp; 1077580 |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc., Class A† | 43696 | &nbsp;&nbsp; 4171220 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc.† | 26436 | &nbsp;&nbsp; 3980733 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 16862 | &nbsp;&nbsp; 11073781 |
| &nbsp;&nbsp;&nbsp; Insulet Corp.† | 26463 | &nbsp;&nbsp; 6526040 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.† | 22026 | &nbsp;&nbsp; 1649968 |
| &nbsp;&nbsp;&nbsp; Medline, Inc., Class A† | 57431 | &nbsp;&nbsp; 2728547 |
| &nbsp;&nbsp;&nbsp; Natera, Inc.† | 47561 | &nbsp;&nbsp; 9894591 |
| &nbsp;&nbsp;&nbsp; Penumbra, Inc.† | 24072 | &nbsp;&nbsp; 8290156 |
| &nbsp;&nbsp;&nbsp; Repligen Corp.† | 44685 | &nbsp;&nbsp; 5752300 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 25170 | &nbsp;&nbsp; 6450064 |
| &nbsp;&nbsp;&nbsp; Revvity, Inc.# | 109671 | &nbsp;&nbsp; 10781756 |
| &nbsp;&nbsp;&nbsp; STERIS PLC | 19939 | &nbsp;&nbsp; 5031607 |

---

------

**VALIC Company I Mid Cap Strategic Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp; Teleflex, Inc. | 64287 | &nbsp;&nbsp; $7846871 |
| &nbsp;&nbsp;&nbsp; Waters Corp.† | 20557 | &nbsp;&nbsp; 6565495 |
|  |  | &nbsp;&nbsp; 101877315 |
| **Healthcare-Services — 1.5%** | **Healthcare-Services — 1.5%** | **Healthcare-Services — 1.5%** |
| &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc.† | 162935 | &nbsp;&nbsp; 6750397 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.† | 42783 | &nbsp;&nbsp; 10241822 |
|  |  | &nbsp;&nbsp; 16992219 |
| **Insurance — 2.2%** | **Insurance — 2.2%** | **Insurance — 2.2%** |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 25219 | &nbsp;&nbsp; 5754976 |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp. | 32846 | &nbsp;&nbsp; 6341405 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 183699 | &nbsp;&nbsp; 4873534 |
| &nbsp;&nbsp;&nbsp; W.R. Berkley Corp. | 41335 | &nbsp;&nbsp; 2963720 |
| &nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 12215 | &nbsp;&nbsp; 3727652 |
|  |  | &nbsp;&nbsp; 23661287 |
| **Internet — 2.8%** | **Internet — 2.8%** | **Internet — 2.8%** |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 10251 | &nbsp;&nbsp; 4456827 |
| &nbsp;&nbsp;&nbsp; CDW Corp. | 30049 | &nbsp;&nbsp; 3685209 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 50169 | &nbsp;&nbsp; 8853323 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 122343 | &nbsp;&nbsp; 9279717 |
| &nbsp;&nbsp;&nbsp; Wayfair, Inc., Class A† | 44384 | &nbsp;&nbsp; 3387831 |
| &nbsp;&nbsp;&nbsp; Ziff Davis, Inc.#† | 35719 | &nbsp;&nbsp; 967271 |
|  |  | &nbsp;&nbsp; 30630178 |
| **Investment Companies — 0.4%** | **Investment Companies — 0.4%** | **Investment Companies — 0.4%** |
| &nbsp;&nbsp;&nbsp; Bitdeer Technologies Group, Class A#† | 163039 | &nbsp;&nbsp; 1255400 |
| &nbsp;&nbsp;&nbsp; Hut 8 Corp.† | 50389 | &nbsp;&nbsp; 2682207 |
|  |  | &nbsp;&nbsp; 3937607 |
| **Iron/Steel — 0.8%** | **Iron/Steel — 0.8%** | **Iron/Steel — 0.8%** |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. | 23486 | &nbsp;&nbsp; 9349072 |
| **Leisure Time — 1.9%** | **Leisure Time — 1.9%** | **Leisure Time — 1.9%** |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. | 65370 | &nbsp;&nbsp; 20327455 |
| **Lodging — 2.2%** | **Lodging — 2.2%** | **Lodging — 2.2%** |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 59335 | &nbsp;&nbsp; 18499466 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts, Ltd. | 48400 | &nbsp;&nbsp; 5236396 |
|  |  | &nbsp;&nbsp; 23735862 |
| **Machinery-Construction & Mining — 2.0%** | **Machinery-Construction & Mining — 2.0%** | **Machinery-Construction & Mining — 2.0%** |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 86254 | &nbsp;&nbsp; 21985282 |
| **Machinery-Diversified — 0.8%** | **Machinery-Diversified — 0.8%** | **Machinery-Diversified — 0.8%** |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc. | 93700 | &nbsp;&nbsp; 8820918 |
| **Media — 0.9%** | **Media — 0.9%** | **Media — 0.9%** |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class A† | 13779 | &nbsp;&nbsp; 1162534 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp.-Liberty Formula One, Class C† | 92935 | &nbsp;&nbsp; 8511917 |
|  |  | &nbsp;&nbsp; 9674451 |
| **Mining — 1.2%** | **Mining — 1.2%** | **Mining — 1.2%** |
| &nbsp;&nbsp;&nbsp; Teck Resources, Ltd., Class B | 221193 | &nbsp;&nbsp; 13026056 |
| **Miscellaneous Manufacturing — 3.1%** | **Miscellaneous Manufacturing — 3.1%** | **Miscellaneous Manufacturing — 3.1%** |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.† | 16526 | &nbsp;&nbsp; 8963702 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 11318 | &nbsp;&nbsp; 11421899 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.† | 19305 | &nbsp;&nbsp; 13148636 |
|  |  | &nbsp;&nbsp; 33534237 |
| **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** | **Pharmaceuticals — 2.7%** |
| &nbsp;&nbsp;&nbsp; Ascendis Pharma A/S ADR† | 33478 | &nbsp;&nbsp; 7817113 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | 46185 | &nbsp;&nbsp; 17187286 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc.† | 3278 | &nbsp;&nbsp; $1416096 |
| &nbsp;&nbsp;&nbsp; Vaxcyte, Inc.† | 52860 | &nbsp;&nbsp; 3263576 |
|  |  | &nbsp;&nbsp; 29684071 |
| **Pipelines — 2.0%** | **Pipelines — 2.0%** | **Pipelines — 2.0%** |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 41130 | &nbsp;&nbsp; 9695575 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | 23860 | &nbsp;&nbsp; 1974892 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | 42570 | &nbsp;&nbsp; 10038006 |
|  |  | &nbsp;&nbsp; 21708473 |
| **Real Estate — 0.7%** | **Real Estate — 0.7%** | **Real Estate — 0.7%** |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc.† | 108895 | &nbsp;&nbsp; 4859984 |
| &nbsp;&nbsp;&nbsp; FirstService Corp. | 19166 | &nbsp;&nbsp; 3019986 |
|  |  | &nbsp;&nbsp; 7879970 |
| **REITS — 0.3%** | **REITS — 0.3%** | **REITS — 0.3%** |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co., Class A | 23815 | &nbsp;&nbsp; 3280278 |
| **Retail — 7.1%** | **Retail — 7.1%** | **Retail — 7.1%** |
| &nbsp;&nbsp;&nbsp; Burlington Stores, Inc.† | 10903 | &nbsp;&nbsp; 3345804 |
| &nbsp;&nbsp;&nbsp; CarMax, Inc.† | 66502 | &nbsp;&nbsp; 2870891 |
| &nbsp;&nbsp;&nbsp; Carvana Co.† | 31010 | &nbsp;&nbsp; 10362302 |
| &nbsp;&nbsp;&nbsp; Cava Group, Inc.#† | 92758 | &nbsp;&nbsp; 7649752 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 29711 | &nbsp;&nbsp; 6353697 |
| &nbsp;&nbsp;&nbsp; Dollar Tree, Inc.† | 18733 | &nbsp;&nbsp; 2369350 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. | 61388 | &nbsp;&nbsp; 16007535 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 85645 | &nbsp;&nbsp; 8040353 |
| &nbsp;&nbsp;&nbsp; QXO, Inc.#† | 204335 | &nbsp;&nbsp; 4893823 |
| &nbsp;&nbsp;&nbsp; Texas Roadhouse, Inc. | 47970 | &nbsp;&nbsp; 8772274 |
| &nbsp;&nbsp;&nbsp; Wingstop, Inc.# | 27551 | &nbsp;&nbsp; 7149760 |
|  |  | &nbsp;&nbsp; 77815541 |
| **Semiconductors — 4.5%** | **Semiconductors — 4.5%** | **Semiconductors — 4.5%** |
| &nbsp;&nbsp;&nbsp; Astera Labs, Inc.† | 26139 | &nbsp;&nbsp; 3106097 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 3043 | &nbsp;&nbsp; 4639206 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 91645 | &nbsp;&nbsp; 6840383 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 14312 | &nbsp;&nbsp; 16354895 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 37642 | &nbsp;&nbsp; 8545110 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp.† | 150782 | &nbsp;&nbsp; 10023987 |
|  |  | &nbsp;&nbsp; 49509678 |
| **Software — 7.6%** | **Software — 7.6%** | **Software — 7.6%** |
| &nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.† | 30470 | &nbsp;&nbsp; 2997943 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 24736 | &nbsp;&nbsp; 4597680 |
| &nbsp;&nbsp;&nbsp; Cloudflare, Inc., Class A† | 95308 | &nbsp;&nbsp; 16411085 |
| &nbsp;&nbsp;&nbsp; Constellation Software, Inc. | 4506 | &nbsp;&nbsp; 8326743 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc., Class A† | 24727 | &nbsp;&nbsp; 2768435 |
| &nbsp;&nbsp;&nbsp; Descartes Systems Group, Inc.† | 25419 | &nbsp;&nbsp; 1684009 |
| &nbsp;&nbsp;&nbsp; Dynatrace, Inc.† | 50781 | &nbsp;&nbsp; 1824054 |
| &nbsp;&nbsp;&nbsp; Figma, Inc., Class A† | 218070 | &nbsp;&nbsp; 6409077 |
| &nbsp;&nbsp;&nbsp; PTC, Inc.† | 49600 | &nbsp;&nbsp; 7766864 |
| &nbsp;&nbsp;&nbsp; Samsara, Inc., Class A† | 213310 | &nbsp;&nbsp; 6164659 |
| &nbsp;&nbsp;&nbsp; Snowflake, Inc.† | 31928 | &nbsp;&nbsp; 5376995 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings, Inc. | 99808 | &nbsp;&nbsp; 7514544 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.† | 31455 | &nbsp;&nbsp; 6652103 |
| &nbsp;&nbsp;&nbsp; Topicus.com, Inc.† | 21055 | &nbsp;&nbsp; 1446938 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 21845 | &nbsp;&nbsp; 2921987 |
|  |  | &nbsp;&nbsp; 82863116 |
| **Transportation — 3.2%** | **Transportation — 3.2%** | **Transportation — 3.2%** |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 62078 | &nbsp;&nbsp; 11499949 |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City, Ltd. | 73399 | &nbsp;&nbsp; 6429018 |

---

------

**VALIC Company I Mid Cap Strategic Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Transportation (continued)** | **Transportation (continued)** | **Transportation (continued)** |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 55533 | &nbsp;&nbsp; $12961958 |
| &nbsp;&nbsp;&nbsp; TFI International, Inc.# | 37357 | &nbsp;&nbsp; 4472380 |
|  |  | &nbsp;&nbsp; 35363305 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $888,521,928)<br>|  | &nbsp;&nbsp; 1068140908 |
| **SHORT-TERM INVESTMENTS — 1.7%** | **SHORT-TERM INVESTMENTS — 1.7%** | **SHORT-TERM INVESTMENTS — 1.7%** |
| **Commercial Paper — 1.1%** | **Commercial Paper — 1.1%** | **Commercial Paper — 1.1%** |
| &nbsp;&nbsp;&nbsp; Societe Generale |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 03/02/2026 | $12600000 | &nbsp;&nbsp; 12596161 |
| **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2)<br>| 6200840 | &nbsp;&nbsp; 6200840 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $18,799,584)<br>|  | &nbsp;&nbsp; 18797001 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $907,321,512)<br>| 99.5<br> %<br>| &nbsp;&nbsp; 1086937909 |
| Other assets less liabilities | 0.5 | &nbsp;&nbsp; 5794456 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $1092732365 |

---

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

† Non-income producing security <br> # The security or a portion thereof is out on loan.

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(2) At February 28, 2026, the Fund had loaned securities with a total value of $40,766,969. This was secured by collateral of $6,200,840, which was received in cash and subsequently invested in short-term investments currently valued at $6,200,840 as reported in the Portfolio of Investments. Additional collateral of $35,804,281 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $35552 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 178994 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 586201 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 08/15/2055 | 35003534 |

---

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

ADR—American Depositary Receipt<br>

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $1068140908 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1068140908 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp; — | &nbsp;&nbsp; 12596161 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12596161 |
| &nbsp;&nbsp;&nbsp; Other Short-Term Investments | &nbsp;&nbsp; 6200840 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6200840 |
| **Total Investments at Value** | &nbsp;&nbsp; $1074341748 | &nbsp;&nbsp; $12596161 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1086937909 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** |
| **Aerospace/Defense — 3.0%** | **Aerospace/Defense — 3.0%** | **Aerospace/Defense — 3.0%** |
| &nbsp;&nbsp;&nbsp; Ducommun, Inc.† | 14888 | &nbsp;&nbsp; $1840008 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 13322 | &nbsp;&nbsp; 3497425 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 8215 | &nbsp;&nbsp; 2994696 |
| &nbsp;&nbsp;&nbsp; Mercury Systems, Inc.† | 49871 | &nbsp;&nbsp; 4440015 |
| &nbsp;&nbsp;&nbsp; Moog, Inc., Class A | 9422 | &nbsp;&nbsp; 3179265 |
| &nbsp;&nbsp;&nbsp; StandardAero, Inc.† | 96347 | &nbsp;&nbsp; 2967488 |
|  |  | &nbsp;&nbsp; 18918897 |
| **Apparel — 0.8%** | **Apparel — 0.8%** | **Apparel — 0.8%** |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 7289 | &nbsp;&nbsp; 2642991 |
| &nbsp;&nbsp;&nbsp; Steven Madden, Ltd. | 74380 | &nbsp;&nbsp; 2685118 |
|  |  | &nbsp;&nbsp; 5328109 |
| **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. | 21690 | &nbsp;&nbsp; 2717757 |
| &nbsp;&nbsp;&nbsp; Gentex Corp. | 60098 | &nbsp;&nbsp; 1406293 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co.† | 235920 | &nbsp;&nbsp; 1946340 |
|  |  | &nbsp;&nbsp; 6070390 |
| **Banks — 6.9%** | **Banks — 6.9%** | **Banks — 6.9%** |
| &nbsp;&nbsp;&nbsp; Ameris Bancorp | 49062 | &nbsp;&nbsp; 3810155 |
| &nbsp;&nbsp;&nbsp; Columbia Banking System, Inc. | 164682 | &nbsp;&nbsp; 4685203 |
| &nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 31242 | &nbsp;&nbsp; 3419437 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 46465 | &nbsp;&nbsp; 2298623 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 220466 | &nbsp;&nbsp; 3703829 |
| &nbsp;&nbsp;&nbsp; National Bank Holdings Corp., Class A | 88742 | &nbsp;&nbsp; 3548792 |
| &nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 59860 | &nbsp;&nbsp; 5432894 |
| &nbsp;&nbsp;&nbsp; Renasant Corp. | 98918 | &nbsp;&nbsp; 3724263 |
| &nbsp;&nbsp;&nbsp; Seacoast Banking Corp. of Florida | 126757 | &nbsp;&nbsp; 3944678 |
| &nbsp;&nbsp;&nbsp; SouthState Bank Corp. | 52539 | &nbsp;&nbsp; 5184023 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | 38658 | &nbsp;&nbsp; 4479689 |
|  |  | &nbsp;&nbsp; 44231586 |
| **Beverages — 1.0%** | **Beverages — 1.0%** | **Beverages — 1.0%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 21636 | &nbsp;&nbsp; 4379126 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC | 19122 | &nbsp;&nbsp; 2111643 |
|  |  | &nbsp;&nbsp; 6490769 |
| **Biotechnology — 0.9%** | **Biotechnology — 0.9%** | **Biotechnology — 0.9%** |
| &nbsp;&nbsp;&nbsp; Biogen, Inc.† | 11987 | &nbsp;&nbsp; 2299346 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.† | 16524 | &nbsp;&nbsp; 1148914 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp.† | 4010 | &nbsp;&nbsp; 2020639 |
|  |  | &nbsp;&nbsp; 5468899 |
| **Building Materials — 3.6%** | **Building Materials — 3.6%** | **Building Materials — 3.6%** |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | 35134 | &nbsp;&nbsp; 2906987 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.† | 32766 | &nbsp;&nbsp; 3417166 |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 3603 | &nbsp;&nbsp; 1422356 |
| &nbsp;&nbsp;&nbsp; Hayward Holdings, Inc.† | 162262 | &nbsp;&nbsp; 2596192 |
| &nbsp;&nbsp;&nbsp; James Hardie Industries PLC† | 184225 | &nbsp;&nbsp; 4485879 |
| &nbsp;&nbsp;&nbsp; Louisiana-Pacific Corp. | 11373 | &nbsp;&nbsp; 963748 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | 42983 | &nbsp;&nbsp; 3078442 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc.† | 70042 | &nbsp;&nbsp; 708825 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co.† | 8006 | &nbsp;&nbsp; 1819364 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 18870 | &nbsp;&nbsp; 1941912 |
|  |  | &nbsp;&nbsp; 23340871 |
| **Chemicals — 2.4%** | **Chemicals — 2.4%** | **Chemicals — 2.4%** |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 36555 | &nbsp;&nbsp; 3638685 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp.† | 44770 | &nbsp;&nbsp; 3224783 |
| &nbsp;&nbsp;&nbsp; NewMarket Corp. | 1623 | &nbsp;&nbsp; 1016014 |
| &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc. | 12794 | &nbsp;&nbsp; 1621768 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp.# | 25345 | &nbsp;&nbsp; $3726475 |
| &nbsp;&nbsp;&nbsp; Westlake Corp.# | 20259 | &nbsp;&nbsp; 2134893 |
|  |  | &nbsp;&nbsp; 15362618 |
| **Commercial Services — 2.5%** | **Commercial Services — 2.5%** | **Commercial Services — 2.5%** |
| &nbsp;&nbsp;&nbsp; Corpay, Inc.† | 5400 | &nbsp;&nbsp; 1755540 |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com, Inc., Class A† | 43078 | &nbsp;&nbsp; 1250124 |
| &nbsp;&nbsp;&nbsp; TransUnion | 54278 | &nbsp;&nbsp; 4263537 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. | 783 | &nbsp;&nbsp; 29817 |
| &nbsp;&nbsp;&nbsp; Valvoline, Inc.† | 182180 | &nbsp;&nbsp; 6886404 |
| &nbsp;&nbsp;&nbsp; WEX, Inc.#† | 11039 | &nbsp;&nbsp; 1646908 |
|  |  | &nbsp;&nbsp; 15832330 |
| **Computers — 3.1%** | **Computers — 3.1%** | **Computers — 3.1%** |
| &nbsp;&nbsp;&nbsp; Amdocs, Ltd. | 39849 | &nbsp;&nbsp; 2781460 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc., Class A† | 11530 | &nbsp;&nbsp; 7035260 |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies, Ltd.† | 8753 | &nbsp;&nbsp; 1331069 |
| &nbsp;&nbsp;&nbsp; EPAM Systems, Inc.† | 10679 | &nbsp;&nbsp; 1505739 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 8546 | &nbsp;&nbsp; 1496405 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 26555 | &nbsp;&nbsp; 2629742 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 3807 | &nbsp;&nbsp; 2418815 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 2254 | &nbsp;&nbsp; 919271 |
|  |  | &nbsp;&nbsp; 20117761 |
| **Distribution/Wholesale — 2.0%** | **Distribution/Wholesale — 2.0%** | **Distribution/Wholesale — 2.0%** |
| &nbsp;&nbsp;&nbsp; Copart, Inc.† | 34477 | &nbsp;&nbsp; 1313229 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | 65342 | &nbsp;&nbsp; 2163474 |
| &nbsp;&nbsp;&nbsp; RB Global, Inc. | 23743 | &nbsp;&nbsp; 2397093 |
| &nbsp;&nbsp;&nbsp; Resideo Technologies, Inc.† | 42591 | &nbsp;&nbsp; 1648272 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | 17165 | &nbsp;&nbsp; 4969267 |
|  |  | &nbsp;&nbsp; 12491335 |
| **Diversified Financial Services — 6.8%** | **Diversified Financial Services — 6.8%** | **Diversified Financial Services — 6.8%** |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. | 10389 | &nbsp;&nbsp; 3180904 |
| &nbsp;&nbsp;&nbsp; Ally Financial, Inc. | 105016 | &nbsp;&nbsp; 4141831 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 12326 | &nbsp;&nbsp; 5794699 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. | 49184 | &nbsp;&nbsp; 3485178 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp.#† | 3687 | &nbsp;&nbsp; 1744615 |
| &nbsp;&nbsp;&nbsp; Evercore, Inc., Class A | 5398 | &nbsp;&nbsp; 1667118 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 16786 | &nbsp;&nbsp; 5042179 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.† | 119519 | &nbsp;&nbsp; 1882424 |
| &nbsp;&nbsp;&nbsp; Rocket Cos., Inc., Class A | 103818 | &nbsp;&nbsp; 1888449 |
| &nbsp;&nbsp;&nbsp; Stifel Financial Corp. | 97551 | &nbsp;&nbsp; 7223689 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 24331 | &nbsp;&nbsp; 1681515 |
| &nbsp;&nbsp;&nbsp; Voya Financial, Inc. | 88028 | &nbsp;&nbsp; 5887313 |
|  |  | &nbsp;&nbsp; 43619914 |
| **Electric — 2.5%** | **Electric — 2.5%** | **Electric — 2.5%** |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. | 35206 | &nbsp;&nbsp; 1531461 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. | 26029 | &nbsp;&nbsp; 3858539 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | 21632 | &nbsp;&nbsp; 2317004 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 40402 | &nbsp;&nbsp; 2066966 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 5602 | &nbsp;&nbsp; 1002534 |
| &nbsp;&nbsp;&nbsp; OGE Energy Corp. | 58588 | &nbsp;&nbsp; 2879014 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 31272 | &nbsp;&nbsp; 2606834 |
|  |  | &nbsp;&nbsp; 16262352 |
| **Electrical Components & Equipment — 1.6%** | **Electrical Components & Equipment — 1.6%** | **Electrical Components & Equipment — 1.6%** |
| &nbsp;&nbsp;&nbsp; AMETEK, Inc. | 10438 | &nbsp;&nbsp; 2496978 |
| &nbsp;&nbsp;&nbsp; Belden, Inc. | 29961 | &nbsp;&nbsp; 4293411 |
| &nbsp;&nbsp;&nbsp; Generac Holdings, Inc.† | 16650 | &nbsp;&nbsp; 3752411 |
|  |  | &nbsp;&nbsp; 10542800 |

---

------

**VALIC Company I Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electronics — 4.1%** | **Electronics — 4.1%** | **Electronics — 4.1%** |
| &nbsp;&nbsp;&nbsp; Allegion PLC | 26802 | &nbsp;&nbsp; $4319142 |
| &nbsp;&nbsp;&nbsp; Arrow Electronics, Inc.† | 11006 | &nbsp;&nbsp; 1674673 |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. | 39536 | &nbsp;&nbsp; 2551258 |
| &nbsp;&nbsp;&nbsp; Flex, Ltd.† | 119832 | &nbsp;&nbsp; 7551812 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | 6294 | &nbsp;&nbsp; 1667847 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.† | 19730 | &nbsp;&nbsp; 6063621 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 4171 | &nbsp;&nbsp; 959956 |
| &nbsp;&nbsp;&nbsp; Vontier Corp. | 33452 | &nbsp;&nbsp; 1368856 |
|  |  | &nbsp;&nbsp; 26157165 |
| **Engineering & Construction — 1.3%** | **Engineering & Construction — 1.3%** | **Engineering & Construction — 1.3%** |
| &nbsp;&nbsp;&nbsp; Fluor Corp.† | 34497 | &nbsp;&nbsp; 1804538 |
| &nbsp;&nbsp;&nbsp; Frontdoor, Inc.† | 44595 | &nbsp;&nbsp; 3057879 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp.#† | 7965 | &nbsp;&nbsp; 3570710 |
|  |  | &nbsp;&nbsp; 8433127 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 12778 | &nbsp;&nbsp; 1174682 |
| **Food — 2.9%** | **Food — 2.9%** | **Food — 2.9%** |
| &nbsp;&nbsp;&nbsp; Cal-Maine Foods, Inc.# | 13438 | &nbsp;&nbsp; 1170584 |
| &nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 33972 | &nbsp;&nbsp; 2413371 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 37970 | &nbsp;&nbsp; 3461345 |
| &nbsp;&nbsp;&nbsp; US Foods Holding Corp.† | 117906 | &nbsp;&nbsp; 11390899 |
|  |  | &nbsp;&nbsp; 18436199 |
| **Gas — 1.8%** | **Gas — 1.8%** | **Gas — 1.8%** |
| &nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | 31385 | &nbsp;&nbsp; 4267418 |
| &nbsp;&nbsp;&nbsp; ONE Gas, Inc. | 47071 | &nbsp;&nbsp; 4115888 |
| &nbsp;&nbsp;&nbsp; Spire, Inc. | 30791 | &nbsp;&nbsp; 2820764 |
|  |  | &nbsp;&nbsp; 11204070 |
| **Hand/Machine Tools — 0.4%** | **Hand/Machine Tools — 0.4%** | **Hand/Machine Tools — 0.4%** |
| &nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. | 8645 | &nbsp;&nbsp; 2481547 |
| **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** |
| &nbsp;&nbsp;&nbsp; Cooper Cos., Inc.† | 29809 | &nbsp;&nbsp; 2494119 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 28919 | &nbsp;&nbsp; 2437004 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc.† | 23849 | &nbsp;&nbsp; 3591183 |
| &nbsp;&nbsp;&nbsp; LivaNova PLC† | 36169 | &nbsp;&nbsp; 2553531 |
| &nbsp;&nbsp;&nbsp; Omnicell, Inc.† | 72918 | &nbsp;&nbsp; 2996930 |
| &nbsp;&nbsp;&nbsp; QIAGEN NV | 38939 | &nbsp;&nbsp; 1939162 |
| &nbsp;&nbsp;&nbsp; Solventum Corp.† | 42347 | &nbsp;&nbsp; 3142147 |
| &nbsp;&nbsp;&nbsp; STERIS PLC | 9450 | &nbsp;&nbsp; 2384708 |
|  |  | &nbsp;&nbsp; 21538784 |
| **Healthcare-Services — 3.4%** | **Healthcare-Services — 3.4%** | **Healthcare-Services — 3.4%** |
| &nbsp;&nbsp;&nbsp; Acadia Healthcare Co., Inc.#† | 90113 | &nbsp;&nbsp; 2112249 |
| &nbsp;&nbsp;&nbsp; Centene Corp.† | 41358 | &nbsp;&nbsp; 1856147 |
| &nbsp;&nbsp;&nbsp; Cigna Group | 10086 | &nbsp;&nbsp; 2923124 |
| &nbsp;&nbsp;&nbsp; ICON PLC† | 29141 | &nbsp;&nbsp; 3151308 |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.† | 13692 | &nbsp;&nbsp; 2448267 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 7998 | &nbsp;&nbsp; 2312382 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | 13340 | &nbsp;&nbsp; 2826879 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.† | 17950 | &nbsp;&nbsp; 4297050 |
|  |  | &nbsp;&nbsp; 21927406 |
| **Home Builders — 1.6%** | **Home Builders — 1.6%** | **Home Builders — 1.6%** |
| &nbsp;&nbsp;&nbsp; Cavco Industries, Inc.† | 2650 | &nbsp;&nbsp; 1529739 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. | 32020 | &nbsp;&nbsp; 2152705 |
| &nbsp;&nbsp;&nbsp; D.R. Horton, Inc. | 16383 | &nbsp;&nbsp; 2627669 |
| &nbsp;&nbsp;&nbsp; NVR, Inc.† | 482 | &nbsp;&nbsp; 3623575 |
|  |  | &nbsp;&nbsp; 9933688 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Home Furnishings — 1.0%** | **Home Furnishings — 1.0%** | **Home Furnishings — 1.0%** |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | 73953 | &nbsp;&nbsp; $6619533 |
| **Insurance — 2.2%** | **Insurance — 2.2%** | **Insurance — 2.2%** |
| &nbsp;&nbsp;&nbsp; Arch Capital Group, Ltd.† | 22862 | &nbsp;&nbsp; 2289629 |
| &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. | 4771 | &nbsp;&nbsp; 191890 |
| &nbsp;&nbsp;&nbsp; First American Financial Corp. | 34714 | &nbsp;&nbsp; 2433799 |
| &nbsp;&nbsp;&nbsp; Markel Group, Inc.† | 1933 | &nbsp;&nbsp; 4006085 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings, Ltd. | 9838 | &nbsp;&nbsp; 2975601 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. | 7166 | &nbsp;&nbsp; 2211714 |
|  |  | &nbsp;&nbsp; 14108718 |
| **Internet — 1.3%** | **Internet — 1.3%** | **Internet — 1.3%** |
| &nbsp;&nbsp;&nbsp; CDW Corp. | 20852 | &nbsp;&nbsp; 2557289 |
| &nbsp;&nbsp;&nbsp; eBay, Inc. | 44983 | &nbsp;&nbsp; 4087155 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 68908 | &nbsp;&nbsp; 1555254 |
|  |  | &nbsp;&nbsp; 8199698 |
| **Iron/Steel — 1.4%** | **Iron/Steel — 1.4%** | **Iron/Steel — 1.4%** |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | 31073 | &nbsp;&nbsp; 2277651 |
| &nbsp;&nbsp;&nbsp; Reliance, Inc. | 21605 | &nbsp;&nbsp; 6819402 |
|  |  | &nbsp;&nbsp; 9097053 |
| **Leisure Time — 0.9%** | **Leisure Time — 0.9%** | **Leisure Time — 0.9%** |
| &nbsp;&nbsp;&nbsp; Malibu Boats, Inc., Class A† | 97425 | &nbsp;&nbsp; 2831170 |
| &nbsp;&nbsp;&nbsp; OneSpaWorld Holdings, Ltd. | 135945 | &nbsp;&nbsp; 2926896 |
|  |  | &nbsp;&nbsp; 5758066 |
| **Lodging — 1.5%** | **Lodging — 1.5%** | **Lodging — 1.5%** |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | 29224 | &nbsp;&nbsp; 2432313 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | 4046 | &nbsp;&nbsp; 1382640 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc. | 72170 | &nbsp;&nbsp; 5903506 |
|  |  | &nbsp;&nbsp; 9718459 |
| **Machinery-Diversified — 2.3%** | **Machinery-Diversified — 2.3%** | **Machinery-Diversified — 2.3%** |
| &nbsp;&nbsp;&nbsp; Dover Corp. | 8515 | &nbsp;&nbsp; 1920133 |
| &nbsp;&nbsp;&nbsp; IDEX Corp. | 20580 | &nbsp;&nbsp; 4310893 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. | 27595 | &nbsp;&nbsp; 6097943 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc., Class A | 8183 | &nbsp;&nbsp; 2690079 |
|  |  | &nbsp;&nbsp; 15019048 |
| **Metal Fabricate/Hardware — 0.6%** | **Metal Fabricate/Hardware — 0.6%** | **Metal Fabricate/Hardware — 0.6%** |
| &nbsp;&nbsp;&nbsp; Helios Technologies, Inc. | 53942 | &nbsp;&nbsp; 3847144 |
| **Miscellaneous Manufacturing — 3.0%** | **Miscellaneous Manufacturing — 3.0%** | **Miscellaneous Manufacturing — 3.0%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | 13581 | &nbsp;&nbsp; 2245211 |
| &nbsp;&nbsp;&nbsp; Avient Corp. | 84514 | &nbsp;&nbsp; 3470990 |
| &nbsp;&nbsp;&nbsp; Entegris, Inc. | 17912 | &nbsp;&nbsp; 2372444 |
| &nbsp;&nbsp;&nbsp; ITT, Inc. | 7090 | &nbsp;&nbsp; 1435087 |
| &nbsp;&nbsp;&nbsp; JBT Marel Corp. | 22117 | &nbsp;&nbsp; 3406018 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 1692 | &nbsp;&nbsp; 1707533 |
| &nbsp;&nbsp;&nbsp; Textron, Inc. | 44800 | &nbsp;&nbsp; 4419520 |
|  |  | &nbsp;&nbsp; 19056803 |
| **Office/Business Equipment — 0.4%** | **Office/Business Equipment — 0.4%** | **Office/Business Equipment — 0.4%** |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp., Class A† | 11008 | &nbsp;&nbsp; 2465352 |
| **Oil & Gas — 5.5%** | **Oil & Gas — 5.5%** | **Oil & Gas — 5.5%** |
| &nbsp;&nbsp;&nbsp; Antero Resources Corp.† | 124628 | &nbsp;&nbsp; 4587557 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | 25400 | &nbsp;&nbsp; 2752598 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 16571 | &nbsp;&nbsp; 2884680 |
| &nbsp;&nbsp;&nbsp; EQT Corp. | 46007 | &nbsp;&nbsp; 2825750 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 22463 | &nbsp;&nbsp; 4452391 |
| &nbsp;&nbsp;&nbsp; Permian Resources Corp., Class A | 191103 | &nbsp;&nbsp; 3495274 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | 15184 | &nbsp;&nbsp; 2343347 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp. | 80362 | &nbsp;&nbsp; 3317343 |

---

------

**VALIC Company I Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp; Viper Energy, Inc., Class A | 94660 | &nbsp;&nbsp; $4405476 |
| &nbsp;&nbsp;&nbsp; Weatherford International PLC | 41478 | &nbsp;&nbsp; 4374270 |
|  |  | &nbsp;&nbsp; 35438686 |
| **Oil & Gas Services — 1.0%** | **Oil & Gas Services — 1.0%** | **Oil & Gas Services — 1.0%** |
| &nbsp;&nbsp;&nbsp; DNOW, Inc.† | 11194 | &nbsp;&nbsp; 131865 |
| &nbsp;&nbsp;&nbsp; TechnipFMC PLC | 89657 | &nbsp;&nbsp; 5945156 |
|  |  | &nbsp;&nbsp; 6077021 |
| **Packaging & Containers — 1.7%** | **Packaging & Containers — 1.7%** | **Packaging & Containers — 1.7%** |
| &nbsp;&nbsp;&nbsp; Ball Corp. | 48671 | &nbsp;&nbsp; 3267284 |
| &nbsp;&nbsp;&nbsp; O-I Glass, Inc.† | 251198 | &nbsp;&nbsp; 3366053 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | 16928 | &nbsp;&nbsp; 3929666 |
|  |  | &nbsp;&nbsp; 10563003 |
| **Pharmaceuticals — 1.3%** | **Pharmaceuticals — 1.3%** | **Pharmaceuticals — 1.3%** |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | 14314 | &nbsp;&nbsp; 5326812 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 2985 | &nbsp;&nbsp; 2947299 |
|  |  | &nbsp;&nbsp; 8274111 |
| **Private Equity — 0.2%** | **Private Equity — 0.2%** | **Private Equity — 0.2%** |
| &nbsp;&nbsp;&nbsp; Carlyle Group, Inc. | 20891 | &nbsp;&nbsp; 1086123 |
| **REITS — 7.0%** | **REITS — 7.0%** | **REITS — 7.0%** |
| &nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 178142 | &nbsp;&nbsp; 5392358 |
| &nbsp;&nbsp;&nbsp; BXP, Inc. | 18931 | &nbsp;&nbsp; 1090047 |
| &nbsp;&nbsp;&nbsp; Camden Property Trust | 34033 | &nbsp;&nbsp; 3687135 |
| &nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | 102340 | &nbsp;&nbsp; 4157051 |
| &nbsp;&nbsp;&nbsp; EastGroup Properties, Inc. | 13667 | &nbsp;&nbsp; 2682969 |
| &nbsp;&nbsp;&nbsp; Equity LifeStyle Properties, Inc. | 29504 | &nbsp;&nbsp; 1981489 |
| &nbsp;&nbsp;&nbsp; Equity Residential | 24763 | &nbsp;&nbsp; 1565269 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 115205 | &nbsp;&nbsp; 3910058 |
| &nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 6592 | &nbsp;&nbsp; 1681685 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage, Inc. | 10298 | &nbsp;&nbsp; 1555307 |
| &nbsp;&nbsp;&nbsp; First Industrial Realty Trust, Inc. | 69573 | &nbsp;&nbsp; 4392839 |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co., Class A | 23350 | &nbsp;&nbsp; 3216229 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | 39567 | &nbsp;&nbsp; 3125793 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 24862 | &nbsp;&nbsp; 5068119 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc. | 45735 | &nbsp;&nbsp; 1381654 |
|  |  | &nbsp;&nbsp; 44888002 |
| **Retail — 4.2%** | **Retail — 4.2%** | **Retail — 4.2%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 1465 | &nbsp;&nbsp; 5501925 |
| &nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.† | 7316 | &nbsp;&nbsp; 1384333 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 6271 | &nbsp;&nbsp; 1341053 |
| &nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. | 24009 | &nbsp;&nbsp; 4888953 |
| &nbsp;&nbsp;&nbsp; Five Below, Inc.† | 14020 | &nbsp;&nbsp; 3133891 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc., Class A | 17963 | &nbsp;&nbsp; 1685648 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 3353 | &nbsp;&nbsp; 1310151 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 13979 | &nbsp;&nbsp; 2874641 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 13264 | &nbsp;&nbsp; 2727742 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 13645 | &nbsp;&nbsp; 2294543 |
|  |  | &nbsp;&nbsp; 27142880 |
| **Semiconductors — 1.4%** | **Semiconductors — 1.4%** | **Semiconductors — 1.4%** |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 51233 | &nbsp;&nbsp; 3824031 |
| &nbsp;&nbsp;&nbsp; MKS, Inc. | 21140 | &nbsp;&nbsp; 5167885 |
|  |  | &nbsp;&nbsp; 8991916 |
| **Software — 0.8%** | **Software — 0.8%** | **Software — 0.8%** |
| &nbsp;&nbsp;&nbsp; Adeia, Inc. | 155965 | &nbsp;&nbsp; 3226916 |
| &nbsp;&nbsp;&nbsp; PTC, Inc.† | 13881 | &nbsp;&nbsp; 2173626 |
|  |  | &nbsp;&nbsp; 5400542 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Telecommunications — 1.3%** | **Telecommunications — 1.3%** | **Telecommunications — 1.3%** |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A† | 27617 | &nbsp;&nbsp; $3190592 |
| &nbsp;&nbsp;&nbsp; InterDigital, Inc.# | 8771 | &nbsp;&nbsp; 3214835 |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc.† | 63240 | &nbsp;&nbsp; 1878860 |
|  |  | &nbsp;&nbsp; 8284287 |
| **Transportation — 3.3%** | **Transportation — 3.3%** | **Transportation — 3.3%** |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc. | 26366 | &nbsp;&nbsp; 3823861 |
| &nbsp;&nbsp;&nbsp; Hub Group, Inc., Class A | 77105 | &nbsp;&nbsp; 3320912 |
| &nbsp;&nbsp;&nbsp; Landstar System, Inc. | 10956 | &nbsp;&nbsp; 1785280 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 21020 | &nbsp;&nbsp; 4268111 |
| &nbsp;&nbsp;&nbsp; Ryder System, Inc. | 11683 | &nbsp;&nbsp; 2588486 |
| &nbsp;&nbsp;&nbsp; XPO, Inc.† | 25515 | &nbsp;&nbsp; 5370142 |
|  |  | &nbsp;&nbsp; 21156792 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $550,499,846)<br>|  | &nbsp;&nbsp; 636558536 |
| **SHORT-TERM INVESTMENTS — 0.9%** | **SHORT-TERM INVESTMENTS — 0.9%** | **SHORT-TERM INVESTMENTS — 0.9%** |
| **Unaffiliated Investment Companies — 0.9%** | **Unaffiliated Investment Companies — 0.9%** | **Unaffiliated Investment Companies — 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional US Government Money Market <br> Fund <br>3.38%(1)<br>| 3114828 | &nbsp;&nbsp; 3114828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2)<br>| 2971600 | &nbsp;&nbsp; 2971600 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $6,086,428)<br>|  | &nbsp;&nbsp; 6086428 |
| **REPURCHASE AGREEMENTS — 0.1%** | **REPURCHASE AGREEMENTS — 0.1%** | **REPURCHASE AGREEMENTS — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with Fixed Income Clearing Corp., bearing <br> interest at 1.06% dated 02/27/2026, to be repurchased <br> 03/02/2026 in the amount of $437,240 and <br> collateralized by $468,500 of United States Treasury <br> Notes, bearing interest at 1.38% due 10/31/2028 and <br> having an approximate value of $446,098 <br>(cost $437,201)<br>| $437201 | &nbsp;&nbsp; 437201 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $557,023,475)<br>| 100.5<br> %<br>| &nbsp;&nbsp; 643082165 |
| Other assets less liabilities | (0.5)<br>| &nbsp;&nbsp; (3223517)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $639858648 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| (1) | The rate shown is the 7-day yield as of February 28, 2026. |
| (2) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $9,869,809. <br> This was secured by collateral of $2,971,600, which was received in cash and <br> subsequently invested in short-term investments currently valued at $2,971,600 as <br> reported in the Portfolio of Investments. Additional collateral of $7,104,787 was received <br> in the form of fixed income pooled securities, which the Fund cannot sell or repledge <br> and accordingly, are not reflected in the Fund's assets and liabilities. The components of <br> the fixed income pooled securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $4103 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 20659 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 101463 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 11/15/2055 | 6978562 |

---

------

**VALIC Company I Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $636558536 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $636558536 |
| Short-Term Investments | &nbsp;&nbsp; 6086428 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6086428 |
| Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 437201 | &nbsp;&nbsp; — | &nbsp;&nbsp; 437201 |
| **Total Investments at Value** | &nbsp;&nbsp; $642644964 | &nbsp;&nbsp; $437201 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $643082165 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Moderate Allocation Lifestyle Fund^**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **AFFILIATED INVESTMENT COMPANIES#(1) — 99.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 99.1%** | **AFFILIATED INVESTMENT COMPANIES#(1) — 99.1%** |
| **Domestic Fixed Income Investment Companies — 42.1%** | **Domestic Fixed Income Investment Companies — 42.1%** | **Domestic Fixed Income Investment Companies — 42.1%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Core Bond Fund | 41182485 | &nbsp;&nbsp; $427062373 |
| &nbsp;&nbsp;&nbsp; VALIC Company I High Yield Bond Fund | 1468432 | &nbsp;&nbsp; 10954500 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Fixed Income Investment Companies** <br>(cost $404,782,333)<br>|  | &nbsp;&nbsp; 438016873 |
| **Domestic Equity Investment Companies — 41.6%** | **Domestic Equity Investment Companies — 41.6%** | **Domestic Equity Investment Companies — 41.6%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Large Cap Core Fund | 5481604 | &nbsp;&nbsp; 99765189 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Growth Fund | 1012314 | &nbsp;&nbsp; 18484861 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Index Fund | 139146 | &nbsp;&nbsp; 2596460 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Small Cap Value Fund | 1266506 | &nbsp;&nbsp; 18452993 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Stock Index Fund | 2232725 | &nbsp;&nbsp; 152807686 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Growth Fund | 3754767 | &nbsp;&nbsp; 76709897 |
| &nbsp;&nbsp;&nbsp; VALIC Company I Systematic Value Fund | 3595108 | &nbsp;&nbsp; 62986300 |
| &nbsp;&nbsp;&nbsp; **Total Domestic Equity Investment Companies** <br>(cost $358,869,637)<br>|  | &nbsp;&nbsp; 431803386 |
| **International Equity Investment Companies — 15.4%** | **International Equity Investment Companies — 15.4%** | **International Equity Investment Companies — 15.4%** |
| &nbsp;&nbsp;&nbsp; VALIC Company I Emerging Economies Fund | 581241 | &nbsp;&nbsp; 5353232 |
| &nbsp;&nbsp;&nbsp; VALIC Company I International Equities Index Fund | 13868240 | &nbsp;&nbsp; 154214823 |
| &nbsp;&nbsp;&nbsp; **Total International Equity Investment Companies** <br>(cost $109,058,171)<br>|  | &nbsp;&nbsp; 159568055 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $872,710,141)<br>|  | &nbsp;&nbsp; 1029388314 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** |
| **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class <br>3.63%(2) <br>(cost $6,485,248)<br>| 6485248 | &nbsp;&nbsp; $6485248 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $879,195,389)<br>| 99.7<br> %<br>| &nbsp;&nbsp; 1035873562 |
| Other assets less liabilities | 0.3 | &nbsp;&nbsp; 3462568 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $1039336130 |

---

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

---

| | |
|:---|:---|
| ^ | Prior to September 29, 2025, the Fund was known as Moderate Growth Lifestyle Fund. |
| # | &nbsp;&nbsp; The VALIC Company I Moderate Allocation Lifestyle Fund invests in various VALIC <br> Company I Funds. Additional information on the underlying funds including such funds' <br> prospectuses and shareholder reports are available at our website, <br> www.corebridgefinancial.com/rs.<br>|
| (1) | See Note 3. |
| (2) | The rate shown is the 7-day yield as of February 28, 2026. |

---

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Affiliated Investment Companies | &nbsp;&nbsp; $1029388314 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1029388314 |
| Short-Term Investments | &nbsp;&nbsp; 6485248 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6485248 |
| **Total Investments at Value** | &nbsp;&nbsp; $1035873562 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1035873562 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Nasdaq-100® Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** |
| **Auto Manufacturers — 4.3%** | **Auto Manufacturers — 4.3%** | **Auto Manufacturers — 4.3%** |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | 30810 | &nbsp;&nbsp; $3884833 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 106108 | &nbsp;&nbsp; 42709531 |
|  |  | &nbsp;&nbsp; 46594364 |
| **Beverages — 2.2%** | **Beverages — 2.2%** | **Beverages — 2.2%** |
| &nbsp;&nbsp;&nbsp; Coca-Cola Europacific Partners PLC | 26749 | &nbsp;&nbsp; 2953892 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 80057 | &nbsp;&nbsp; 2424126 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 57215 | &nbsp;&nbsp; 4880440 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 80250 | &nbsp;&nbsp; 13621635 |
|  |  | &nbsp;&nbsp; 23880093 |
| **Biotechnology — 3.6%** | **Biotechnology — 3.6%** | **Biotechnology — 3.6%** |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.† | 7794 | &nbsp;&nbsp; 2594778 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 31604 | &nbsp;&nbsp; 12267409 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 72816 | &nbsp;&nbsp; 10845943 |
| &nbsp;&nbsp;&nbsp; Insmed, Inc.† | 12532 | &nbsp;&nbsp; 1871403 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 6046 | &nbsp;&nbsp; 4725977 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 14873 | &nbsp;&nbsp; 7389353 |
|  |  | &nbsp;&nbsp; 39694863 |
| **Chemicals — 1.3%** | **Chemicals — 1.3%** | **Chemicals — 1.3%** |
| &nbsp;&nbsp;&nbsp; Linde PLC | 27405 | &nbsp;&nbsp; 13923932 |
| **Commercial Services — 1.3%** | **Commercial Services — 1.3%** | **Commercial Services — 1.3%** |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 23735 | &nbsp;&nbsp; 5087835 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 23523 | &nbsp;&nbsp; 4731181 |
| &nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. | 55130 | &nbsp;&nbsp; 2547557 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 8153 | &nbsp;&nbsp; 1692318 |
|  |  | &nbsp;&nbsp; 14058891 |
| **Computers — 9.7%** | **Computers — 9.7%** | **Computers — 9.7%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 314136 | &nbsp;&nbsp; 82988449 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | 28409 | &nbsp;&nbsp; 1830392 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A† | 14729 | &nbsp;&nbsp; 5478893 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 43675 | &nbsp;&nbsp; 3451635 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 12530 | &nbsp;&nbsp; 5110235 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 20066 | &nbsp;&nbsp; 5612460 |
| &nbsp;&nbsp;&nbsp; Zscaler, Inc.† | 9351 | &nbsp;&nbsp; 1374504 |
|  |  | &nbsp;&nbsp; 105846568 |
| **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** | **Distribution/Wholesale — 0.5%** |
| &nbsp;&nbsp;&nbsp; Copart, Inc.† | 57048 | &nbsp;&nbsp; 2172958 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | 67237 | &nbsp;&nbsp; 3095592 |
|  |  | &nbsp;&nbsp; 5268550 |
| **Electric — 1.6%** | **Electric — 1.6%** | **Electric — 1.6%** |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 31406 | &nbsp;&nbsp; 4202751 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 21321 | &nbsp;&nbsp; 7033372 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | 58973 | &nbsp;&nbsp; 2917394 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 34542 | &nbsp;&nbsp; 2879421 |
|  |  | &nbsp;&nbsp; 17032938 |
| **Electronics — 0.8%** | **Electronics — 0.8%** | **Electronics — 0.8%** |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 37262 | &nbsp;&nbsp; 9076651 |
| **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** |
| &nbsp;&nbsp;&nbsp; Ferrovial SE# | 42938 | &nbsp;&nbsp; 3193728 |
| **Food — 0.6%** | **Food — 0.6%** | **Food — 0.6%** |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 69457 | &nbsp;&nbsp; 1709337 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | 75732 | &nbsp;&nbsp; 4663576 |
|  |  | &nbsp;&nbsp; 6372913 |
| **Healthcare-Products — 1.4%** | **Healthcare-Products — 1.4%** | **Healthcare-Products — 1.4%** |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 26812 | &nbsp;&nbsp; 2259447 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 4670 | &nbsp;&nbsp; $3066929 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.† | 20806 | &nbsp;&nbsp; 10476029 |
|  |  | &nbsp;&nbsp; 15802405 |
| **Internet — 21.5%** | **Internet — 21.5%** | **Internet — 21.5%** |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc., Class A† | 24888 | &nbsp;&nbsp; 3362618 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 123687 | &nbsp;&nbsp; 38560659 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 114949 | &nbsp;&nbsp; 35798567 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 227267 | &nbsp;&nbsp; 47726070 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 18026 | &nbsp;&nbsp; 7837164 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 1890 | &nbsp;&nbsp; 8012372 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 23838 | &nbsp;&nbsp; 4206692 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc.† | 2980 | &nbsp;&nbsp; 5237588 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 62435 | &nbsp;&nbsp; 40469118 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 248691 | &nbsp;&nbsp; 23934022 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.† | 48036 | &nbsp;&nbsp; 7153521 |
| &nbsp;&nbsp;&nbsp; PDD Holdings, Inc. ADR† | 39202 | &nbsp;&nbsp; 4066424 |
| &nbsp;&nbsp;&nbsp; Shopify, Inc., Class A† | 71754 | &nbsp;&nbsp; 8662860 |
|  |  | &nbsp;&nbsp; 235027675 |
| **Lodging — 0.5%** | **Lodging — 0.5%** | **Lodging — 0.5%** |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | 15746 | &nbsp;&nbsp; 5380881 |
| **Media — 1.4%** | **Media — 1.4%** | **Media — 1.4%** |
| &nbsp;&nbsp;&nbsp; Charter Communications, Inc., Class A#† | 7601 | &nbsp;&nbsp; 1783423 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | 213308 | &nbsp;&nbsp; 6604016 |
| &nbsp;&nbsp;&nbsp; Thomson Reuters Corp.# | 26223 | &nbsp;&nbsp; 2528159 |
| &nbsp;&nbsp;&nbsp; Warner Bros. Discovery, Inc.† | 145774 | &nbsp;&nbsp; 4106453 |
|  |  | &nbsp;&nbsp; 15022051 |
| **Miscellaneous Manufacturing — 0.2%** | **Miscellaneous Manufacturing — 0.2%** | **Miscellaneous Manufacturing — 0.2%** |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.† | 4641 | &nbsp;&nbsp; 2517278 |
| **Oil & Gas — 0.3%** | **Oil & Gas — 0.3%** | **Oil & Gas — 0.3%** |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 16743 | &nbsp;&nbsp; 2914621 |
| **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | 57910 | &nbsp;&nbsp; 3779207 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Dexcom, Inc.† | 22853 | &nbsp;&nbsp; 1678096 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc.† | 24616 | &nbsp;&nbsp; 1098612 |
| **Retail — 7.1%** | **Retail — 7.1%** | **Retail — 7.1%** |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 26010 | &nbsp;&nbsp; 26290648 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 49541 | &nbsp;&nbsp; 4650909 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 19104 | &nbsp;&nbsp; 3928547 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | 66914 | &nbsp;&nbsp; 6558910 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 286835 | &nbsp;&nbsp; 36700538 |
|  |  | &nbsp;&nbsp; 78129552 |
| **Semiconductors — 25.7%** | **Semiconductors — 25.7%** | **Semiconductors — 25.7%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 95551 | &nbsp;&nbsp; 19130266 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 28738 | &nbsp;&nbsp; 10224693 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 46755 | &nbsp;&nbsp; 17406886 |
| &nbsp;&nbsp;&nbsp; ARM Holdings PLC ADR† | 7977 | &nbsp;&nbsp; 1016669 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 5166 | &nbsp;&nbsp; 7493593 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 100395 | &nbsp;&nbsp; 32081222 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 279954 | &nbsp;&nbsp; 12768702 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 7711 | &nbsp;&nbsp; 11755805 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 73717 | &nbsp;&nbsp; 17241669 |
| &nbsp;&nbsp;&nbsp; Marvell Technology, Inc. | 50683 | &nbsp;&nbsp; 4140294 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 31864 | &nbsp;&nbsp; 2378329 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 66047 | &nbsp;&nbsp; 27235801 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 2807 | &nbsp;&nbsp; 3207671 |

---

------

**VALIC Company I Nasdaq-100® Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 516603 | &nbsp;&nbsp; $91536886 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 14769 | &nbsp;&nbsp; 3352711 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 62858 | &nbsp;&nbsp; 8948465 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 53328 | &nbsp;&nbsp; 11311402 |
|  |  | &nbsp;&nbsp; 281231064 |
| **Software — 11.1%** | **Software — 11.1%** | **Software — 11.1%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 24505 | &nbsp;&nbsp; 6430357 |
| &nbsp;&nbsp;&nbsp; Atlassian Corp., Class A† | 10047 | &nbsp;&nbsp; 754831 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 12391 | &nbsp;&nbsp; 3046575 |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.† | 15976 | &nbsp;&nbsp; 4815166 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc., Class A† | 19164 | &nbsp;&nbsp; 2145602 |
| &nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 14625 | &nbsp;&nbsp; 2933336 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 16378 | &nbsp;&nbsp; 6699093 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 158008 | &nbsp;&nbsp; 62056062 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 134069 | &nbsp;&nbsp; 18392926 |
| &nbsp;&nbsp;&nbsp; Paychex, Inc. | 21177 | &nbsp;&nbsp; 1983226 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | 6340 | &nbsp;&nbsp; 2217288 |
| &nbsp;&nbsp;&nbsp; Strategy, Inc.#† | 15765 | &nbsp;&nbsp; 2041568 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc.† | 10871 | &nbsp;&nbsp; 4500594 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.† | 10884 | &nbsp;&nbsp; 2301748 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 12519 | &nbsp;&nbsp; 1674542 |
|  |  | &nbsp;&nbsp; 121992914 |
| **Telecommunications — 3.0%** | **Telecommunications — 3.0%** | **Telecommunications — 3.0%** |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 231892 | &nbsp;&nbsp; 18426139 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 65646 | &nbsp;&nbsp; 14251090 |
|  |  | &nbsp;&nbsp; 32677229 |
| **Transportation — 0.7%** | **Transportation — 0.7%** | **Transportation — 0.7%** |
| &nbsp;&nbsp;&nbsp; CSX Corp. | 109710 | &nbsp;&nbsp; 4683520 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 12331 | &nbsp;&nbsp; 2503810 |
|  |  | &nbsp;&nbsp; 7187330 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $535,871,725)<br>|  | &nbsp;&nbsp; 1089382406 |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco QQQ Trust Series 1 <br>(cost $4,716)<br>| 10 | &nbsp;&nbsp; 6073 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $535,876,441)<br>|  | &nbsp;&nbsp; 1089388479 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** | **SHORT-TERM INVESTMENTS — 0.6%** |
| **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** | **Unaffiliated Investment Companies — 0.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(1)<br>| 4885335 | &nbsp;&nbsp; $4885335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2)<br>| 1828529 | &nbsp;&nbsp; 1828529 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $6,713,864)<br>|  | &nbsp;&nbsp; 6713864 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $542,590,305)<br>| 100.2<br> %<br>| &nbsp;&nbsp; 1096102343 |
| Other assets less liabilities | (0.2)<br>| &nbsp;&nbsp; (2174889)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $1093927454 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| (1) | The rate shown is the 7-day yield as of February 28, 2026. |
| (2) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $4,769,589. <br> This was secured by collateral of $1,828,529, which was received in cash and <br> subsequently invested in short-term investments currently valued at $1,828,529 as <br> reported in the Portfolio of Investments. Additional collateral of $3,044,354 was received <br> in the form of fixed income pooled securities, which the Fund cannot sell or repledge <br> and accordingly, are not reflected in the Fund's assets and liabilities. The components of <br> the fixed income pooled securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $4602 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 23171 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/30/2026 to 08/15/2055 | 3016581 |

---

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

ADR—American Depositary Receipt<br>

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 11 | Long | NASDAQ 100 E-Mini Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $5485379 | &nbsp;&nbsp;&nbsp;&nbsp; $5501045 | &nbsp;&nbsp;&nbsp;&nbsp; $15666 |

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

------

**VALIC Company I Nasdaq-100® Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $1089382406 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1089382406 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 6073 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6073 |
| Short-Term Investments | &nbsp;&nbsp; 6713864 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6713864 |
| **Total Investments at Value** | &nbsp;&nbsp; $1096102343 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1096102343 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $15666 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $15666 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Science & Technology Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.9%** | **COMMON STOCKS — 97.9%** | **COMMON STOCKS — 97.9%** |
| **Aerospace/Defense — 1.0%** | **Aerospace/Defense — 1.0%** | **Aerospace/Defense — 1.0%** |
| &nbsp;&nbsp;&nbsp; AeroVironment, Inc.† | 28674 | &nbsp;&nbsp; $7233016 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc.† | 128215 | &nbsp;&nbsp; 11049569 |
| &nbsp;&nbsp;&nbsp; Rocket Lab Corp.† | 172310 | &nbsp;&nbsp; 11906621 |
|  |  | &nbsp;&nbsp; 30189206 |
| **Auto Manufacturers — 1.2%** | **Auto Manufacturers — 1.2%** | **Auto Manufacturers — 1.2%** |
| &nbsp;&nbsp;&nbsp; Hyundai Motor Co. | 27553 | &nbsp;&nbsp; 12909782 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 60997 | &nbsp;&nbsp; 24551903 |
|  |  | &nbsp;&nbsp; 37461685 |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ginkgo Bioworks, Inc., Earnout Shares 15.00(1) | 963 | &nbsp;&nbsp; 10 |
| &nbsp;&nbsp;&nbsp; PrognomiQ, Inc., Class A(1)(2) | 28713 | &nbsp;&nbsp; 9188 |
|  |  | &nbsp;&nbsp; 9198 |
| **Computers — 14.2%** | **Computers — 14.2%** | **Computers — 14.2%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 848150 | &nbsp;&nbsp; 224064267 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A† | 95516 | &nbsp;&nbsp; 35530042 |
| &nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.† | 14346 | &nbsp;&nbsp; 645570 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | 19709 | &nbsp;&nbsp; 4734299 |
| &nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.#† | 68711 | &nbsp;&nbsp; 48160227 |
| &nbsp;&nbsp;&nbsp; Okta, Inc.† | 92402 | &nbsp;&nbsp; 6699145 |
| &nbsp;&nbsp;&nbsp; Rubrik, Inc., Class A† | 406714 | &nbsp;&nbsp; 21132859 |
| &nbsp;&nbsp;&nbsp; SailPoint, Inc.#† | 557309 | &nbsp;&nbsp; 7858057 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 39650 | &nbsp;&nbsp; 25192024 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 32785 | &nbsp;&nbsp; 13371034 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 125004 | &nbsp;&nbsp; 34963619 |
| &nbsp;&nbsp;&nbsp; Zscaler, Inc.† | 46690 | &nbsp;&nbsp; 6862963 |
|  |  | &nbsp;&nbsp; 429214106 |
| **Electronics — 4.7%** | **Electronics — 4.7%** | **Electronics — 4.7%** |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 51768 | &nbsp;&nbsp; 17371788 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 358176 | &nbsp;&nbsp; 52315186 |
| &nbsp;&nbsp;&nbsp; Celestica, Inc.† | 52451 | &nbsp;&nbsp; 14561971 |
| &nbsp;&nbsp;&nbsp; Coherent Corp.† | 91528 | &nbsp;&nbsp; 23699345 |
| &nbsp;&nbsp;&nbsp; Flex, Ltd.† | 203832 | &nbsp;&nbsp; 12845493 |
| &nbsp;&nbsp;&nbsp; Gold Circuit Electronics, Ltd. | 797000 | &nbsp;&nbsp; 21076682 |
|  |  | &nbsp;&nbsp; 141870465 |
| **Entertainment Software — 0.1%** | **Entertainment Software — 0.1%** | **Entertainment Software — 0.1%** |
| &nbsp;&nbsp;&nbsp; Epic Games, Inc.(1)(2) | 3719 | &nbsp;&nbsp; 2225599 |
| **Healthcare-Services — 0.0%** | **Healthcare-Services — 0.0%** | **Healthcare-Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Verily Life Sciences LLC <br>Series B(1)(2)<br>| 6986 | &nbsp;&nbsp; 230957 |
| **Internet — 14.0%** | **Internet — 14.0%** | **Internet — 14.0%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 212040 | &nbsp;&nbsp; 66105590 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 503905 | &nbsp;&nbsp; 156931134 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 128216 | &nbsp;&nbsp; 26925360 |
| &nbsp;&nbsp;&nbsp; MercadoLibre, Inc.† | 5846 | &nbsp;&nbsp; 10274813 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 130079 | &nbsp;&nbsp; 84314606 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.† | 194107 | &nbsp;&nbsp; 28906415 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 73513 | &nbsp;&nbsp; 5575961 |
| &nbsp;&nbsp;&nbsp; Shopify, Inc., Class A† | 199075 | &nbsp;&nbsp; 24034325 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 39710 | &nbsp;&nbsp; 20448267 |
|  |  | &nbsp;&nbsp; 423516471 |
| **Machinery-Construction & Mining — 2.6%** | **Machinery-Construction & Mining — 2.6%** | **Machinery-Construction & Mining — 2.6%** |
| &nbsp;&nbsp;&nbsp; Bloom Energy Corp., Class A† | 107975 | &nbsp;&nbsp; 16808468 |
| &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. | 80400 | &nbsp;&nbsp; 16560792 |
| &nbsp;&nbsp;&nbsp; Siemens Energy AG | 116610 | &nbsp;&nbsp; 22934545 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 90310 | &nbsp;&nbsp; 23019116 |
|  |  | &nbsp;&nbsp; 79322921 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Miscellaneous Manufacturing — 0.8%** | **Miscellaneous Manufacturing — 0.8%** | **Miscellaneous Manufacturing — 0.8%** |
| &nbsp;&nbsp;&nbsp; Elite Material Co., Ltd. | 336000 | &nbsp;&nbsp; $25570597 |
| **Semiconductors — 41.4%** | **Semiconductors — 41.4%** | **Semiconductors — 41.4%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 97925 | &nbsp;&nbsp; 19605564 |
| &nbsp;&nbsp;&nbsp; Advantest Corp. | 229600 | &nbsp;&nbsp; 39475939 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 111460 | &nbsp;&nbsp; 39656353 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 97429 | &nbsp;&nbsp; 36272817 |
| &nbsp;&nbsp;&nbsp; ARM Holdings PLC ADR#† | 81968 | &nbsp;&nbsp; 10446822 |
| &nbsp;&nbsp;&nbsp; ASM International NV | 13818 | &nbsp;&nbsp; 11660994 |
| &nbsp;&nbsp;&nbsp; ASML Holding NV | 12619 | &nbsp;&nbsp; 18390749 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 630521 | &nbsp;&nbsp; 201482985 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 33581 | &nbsp;&nbsp; 51195914 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 382080 | &nbsp;&nbsp; 89364691 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 163336 | &nbsp;&nbsp; 67354866 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 32519 | &nbsp;&nbsp; 37160762 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 2084951 | &nbsp;&nbsp; 369432468 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 62287 | &nbsp;&nbsp; 14139772 |
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co., Ltd. | 1126590 | &nbsp;&nbsp; 169556298 |
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 213028 | &nbsp;&nbsp; 79796028 |
|  |  | &nbsp;&nbsp; 1254993022 |
| **Software — 14.1%** | **Software — 14.1%** | **Software — 14.1%** |
| &nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.† | 160390 | &nbsp;&nbsp; 15780772 |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.† | 35652 | &nbsp;&nbsp; 10745513 |
| &nbsp;&nbsp;&nbsp; Cloudflare, Inc., Class A† | 130629 | &nbsp;&nbsp; 22493007 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc., Class A† | 117771 | &nbsp;&nbsp; 13185641 |
| &nbsp;&nbsp;&nbsp; Figma, Inc., Class A† | 268324 | &nbsp;&nbsp; 7886042 |
| &nbsp;&nbsp;&nbsp; IonQ, Inc.#† | 174695 | &nbsp;&nbsp; 6703047 |
| &nbsp;&nbsp;&nbsp; Klaviyo, Inc., Class A† | 311275 | &nbsp;&nbsp; 5419298 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 464827 | &nbsp;&nbsp; 182556156 |
| &nbsp;&nbsp;&nbsp; MongoDB, Inc.† | 64461 | &nbsp;&nbsp; 21173505 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 161989 | &nbsp;&nbsp; 23553201 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 295404 | &nbsp;&nbsp; 40526475 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 110445 | &nbsp;&nbsp; 11929164 |
| &nbsp;&nbsp;&nbsp; Snowflake, Inc.† | 287807 | &nbsp;&nbsp; 48469577 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.† | 73283 | &nbsp;&nbsp; 15497889 |
|  |  | &nbsp;&nbsp; 425919287 |
| **Telecommunications — 3.8%** | **Telecommunications — 3.8%** | **Telecommunications — 3.8%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 354223 | &nbsp;&nbsp; 47288770 |
| &nbsp;&nbsp;&nbsp; Ciena Corp.† | 23120 | &nbsp;&nbsp; 8061944 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 145797 | &nbsp;&nbsp; 11585030 |
| &nbsp;&nbsp;&nbsp; Corning, Inc. | 90427 | &nbsp;&nbsp; 13598412 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A† | 106269 | &nbsp;&nbsp; 12277258 |
| &nbsp;&nbsp;&nbsp; SoftBank Group Corp. | 865600 | &nbsp;&nbsp; 22664735 |
|  |  | &nbsp;&nbsp; 115476149 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $1,915,558,022)<br>|  | &nbsp;&nbsp; 2965999663 |
| **CONVERTIBLE PREFERRED STOCKS — 0.4%** | **CONVERTIBLE PREFERRED STOCKS — 0.4%** | **CONVERTIBLE PREFERRED STOCKS — 0.4%** |
| **Automotive - Cars & Lt. Trucks — 0.2%** | **Automotive - Cars & Lt. Trucks — 0.2%** | **Automotive - Cars & Lt. Trucks — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waymo LLC <br>Series A-2 (1)(2)<br>| 21059 | &nbsp;&nbsp; 3553285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Waymo LLC <br>Series B-2(1)(2)<br>| 10055 | &nbsp;&nbsp; 1711562 |
|  |  | &nbsp;&nbsp; 5264847 |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freenome Holdings, Inc. <br>Series B (1)(2)<br>| 94602 | &nbsp;&nbsp; 282860 |

---

------

**VALIC Company I Science & Technology Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CONVERTIBLE PREFERRED STOCKS (continued)** | **CONVERTIBLE PREFERRED STOCKS (continued)** | **CONVERTIBLE PREFERRED STOCKS (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freenome Holdings, Inc. <br>Series C(1)(2)<br>| 53807 | &nbsp;&nbsp; $164649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insitro, Inc. <br>Series B(1)(2)<br>| 52029 | &nbsp;&nbsp; 434963 |
|  |  | &nbsp;&nbsp; 882472 |
| **E-Commerce/Services — 0.1%** | **E-Commerce/Services — 0.1%** | **E-Commerce/Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rappi, Inc. <br>Series E (1)(2)<br>| 39184 | &nbsp;&nbsp; 1786791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rappi, Inc. <br>Series F(1)(2)<br>| 14609 | &nbsp;&nbsp; 666170 |
|  |  | &nbsp;&nbsp; 2452961 |
| **Medical - Biomedical/Gene — 0.1%** | **Medical - Biomedical/Gene — 0.1%** | **Medical - Biomedical/Gene — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Resilience, Inc. <br>Series B†(1)(2)<br>| 69360 | &nbsp;&nbsp; 1040400 |
| **Medical Imaging Systems — 0.0%** | **Medical Imaging Systems — 0.0%** | **Medical Imaging Systems — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RefleXion Medical, Inc. <br>Series C (1)(2)<br>| 160251 | &nbsp;&nbsp; 4808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; RefleXion Medical, Inc. <br>Series D(1)(2)<br>| 67040 | &nbsp;&nbsp; 2011 |
|  |  | &nbsp;&nbsp; 6819 |
| **Medical Information Systems — 0.0%** | **Medical Information Systems — 0.0%** | **Medical Information Systems — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kardium, Inc. <br>Series D-5(1)(2)<br>| 542402 | &nbsp;&nbsp; 555257 |
| **Retirement/Aged Care — 0.0%** | **Retirement/Aged Care — 0.0%** | **Retirement/Aged Care — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Honor Tech, Inc. <br>Series D†(1)(2)<br>| 180527 | &nbsp;&nbsp; 247322 |
| **Therapeutics — 0.0%** | **Therapeutics — 0.0%** | **Therapeutics — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Color Health, Inc. <br>Series D-1(1)(2)<br>| 26210 | &nbsp;&nbsp; 158570 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Preferred Stocks** <br>(cost $9,974,556)<br>|  | &nbsp;&nbsp; 10608648 |
| **UNAFFILIATED INVESTMENT COMPANIES — 1.1%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.1%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KraneShares CSI China Internet ETF # <br>(cost $38,080,205)<br>| 1054952 | &nbsp;&nbsp; 32766809 |
| **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** |
| &nbsp;&nbsp;&nbsp; Exact Sciences CMO Milestone †(1) | $216096 | &nbsp;&nbsp; 123175 |
| &nbsp;&nbsp;&nbsp; Exact Sciences FDA Milestone †(1) | 108048 | &nbsp;&nbsp; 69151 |
| &nbsp;&nbsp;&nbsp; **Total Escrows and Litigation Trusts** <br>(cost $0)<br>|  | &nbsp;&nbsp; 192326 |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |
| **Software — 0.0%** | **Software — 0.0%** | **Software — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Constellation Software, Inc. <br>Expires 03/31/2040†(1) <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>(cost $0)<br>CAD | 3500 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $1,963,612,783)<br>|  | &nbsp;&nbsp; 3009567446 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(3)<br>| 8726071 | &nbsp;&nbsp; 8726071 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Unaffiliated Investment Companies (continued)** | **Unaffiliated Investment Companies (continued)** | **Unaffiliated Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(3)(4)<br>| 358515 | &nbsp;&nbsp; $358515 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $9,084,586)<br>|  | &nbsp;&nbsp; 9084586 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $1,972,697,369)<br>| 99.7<br> %<br>| &nbsp;&nbsp; 3018652032 |
| Other assets less liabilities | 0.3 | &nbsp;&nbsp; 9516775 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $3028168807 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| (1) | Securities classified as Level 3 (see Note 1). |
| (2) | &nbsp;&nbsp; Denotes a restricted security that: (a) cannot be offered for public sale without first being <br> registered, or being able to take advantage of an exemption from registration, under the <br> Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual <br> restriction on public sales; or (c) is otherwise subject to a restriction on sales by <br> operation of applicable law. Restricted securities are valued pursuant to Note 1. Certain <br> restricted securities held by the Fund may not be sold except in exempt transactions or <br> in a public offering registered under the 1933 Act. The Fund has no right to demand <br> registration of these securities. The risk of investing in certain restricted securities is <br> greater than the risk of investing in the securities of widely held, publicly traded <br> companies. To the extent applicable, lack of a secondary market and resale restrictions <br> may result in the inability of a Fund to sell a security at a fair price and may substantially <br> delay the sale of the security. In addition, certain restricted securities may exhibit greater <br> price volatility than securities for which secondary markets exist. As of February 28, <br> 2026, the Fund held the following restricted securities:<br>|

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Epic Games, Inc. | 06/18/20, 03/29/21 | 3719 | $2457490 | $2225599 | $598.44 | 0.1<br> %<br>|
| PrognomiQ, Inc., Class A | 11/15/19, 05/12/20, <br> 09/11/20<br>| 28713 | 645122 | 9188 | 0.32 | 0.0 |
| &nbsp;&nbsp;&nbsp; Verily Life Sciences LLC <br>Series B<br>| 1/23/19 | 6986 | 861094 | 230957 | 33.06 | 0.0 |
| **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** |
| &nbsp;&nbsp;&nbsp; Color Health, Inc. <br>Series D-1<br>| 01/13/20 | 26210 | 543971 | 158570 | 6.05 | 0.0 |
| &nbsp;&nbsp;&nbsp; Freenome Holdings, Inc. <br>Series B<br>| 06/24/19 | 94602 | 431111 | 282860 | 2.99 | 0.0 |
| &nbsp;&nbsp;&nbsp; Freenome Holdings, Inc. <br>Series C<br>| 08/14/20 | 53807 | 355842 | 164649 | 3.06 | 0.0 |
| &nbsp;&nbsp;&nbsp; Honor Tech, Inc. <br>Series D<br>| 10/16/20 | 180527 | 434723 | 247322 | 1.37 | 0.0 |
| &nbsp;&nbsp;&nbsp; Insitro, Inc. <br>Series B<br>| 05/21/20 | 52029 | 324177 | 434963 | 8.36 | 0.0 |
| &nbsp;&nbsp;&nbsp; Kardium, Inc. <br>Series D-5<br>| 11/29/18 | 542402 | 525533 | 555257 | 1.02 | 0.0 |
| &nbsp;&nbsp;&nbsp; National Resilience, Inc. <br>Series B<br>| 10/23/20 | 69360 | 947458 | 1040400 | 15.00 | 0.1 |
| &nbsp;&nbsp;&nbsp; Rappi, Inc. <br>Series E<br>| 09/08/20 | 39184 | 2341089 | 1786791 | 45.60 | 0.1 |
| &nbsp;&nbsp;&nbsp; Rappi, Inc. <br>Series F<br>| 07/08/21 | 14609 | 941157 | 666170 | 45.60 | 0.0 |
| &nbsp;&nbsp;&nbsp; RefleXion Medical, Inc. <br>Series C<br>| 04/03/18 | 160251 | 271145 | 4808 | 0.03 | 0.0 |
| &nbsp;&nbsp;&nbsp; RefleXion Medical, Inc. <br>Series D<br>| 04/04/20 | 67040 | 127808 | 2011 | 0.03 | 0.0 |

---

------

**VALIC Company I Science & Technology Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition**<br> **Date**<br>| **Shares or**<br> **Principal**<br> **Amount**<br>| **Acquisition**<br> **Cost**<br>| **Value** | **Value**<br> **Per Share**<br>| **% of**<br> **Net Assets**<br>|
| **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** | **<u>Convertible Preferred Stocks (continued)</u>** |
| &nbsp;&nbsp;&nbsp; Waymo LLC <br>Series A-2<br>| 05/08/20 | 21059 | $1808277 | $3553285 | $168.73 | 0.1<br> %<br>|
| &nbsp;&nbsp;&nbsp; Waymo LLC <br>Series B-2<br>| 06/11/21 | 10055 | 922265 | 1711562 | 170.22 | 0.1 |
|  |  |  |  | $13074392 |  | 0.5<br> %\*\*<br>|

---

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

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Fund and may not equal the sum of the individual percentages shown due to rounding. 

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) At February 28, 2026, the Fund had loaned securities with a total value of $27,567,458. This was secured by collateral of $358,515, which was received in cash and subsequently invested in short-term investments currently valued at $358,515 as reported in the Portfolio of Investments. Additional collateral of $28,532,628 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $3512 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 17683 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 409508 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 11/15/2055 | 28101925 |

---

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

ADR—American Depositary Receipt <br> ETF—Exchange Traded Fund

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

CAD—Canadian Dollar<br>

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9198 | &nbsp;&nbsp; $9198 |
| &nbsp;&nbsp;&nbsp; Electronics | &nbsp;&nbsp; 120793783 | &nbsp;&nbsp; 21076682 | &nbsp;&nbsp; — | &nbsp;&nbsp; 141870465 |
| &nbsp;&nbsp;&nbsp; Entertainment Software | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2225599 | &nbsp;&nbsp; 2225599 |
| &nbsp;&nbsp;&nbsp; Healthcare-Services | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 230957 | &nbsp;&nbsp; 230957 |
| &nbsp;&nbsp;&nbsp; Miscellaneous Manufacturing | &nbsp;&nbsp; — | &nbsp;&nbsp; 25570597 | &nbsp;&nbsp; — | &nbsp;&nbsp; 25570597 |
| &nbsp;&nbsp;&nbsp; Other Industries | &nbsp;&nbsp; 2796092847 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2796092847 |
| Convertible Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10608648 | &nbsp;&nbsp; 10608648 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 32766809 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 32766809 |
| Escrows and Litigation Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 192326 | &nbsp;&nbsp; 192326 |
| Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Short-Term Investments | &nbsp;&nbsp; 9084586 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9084586 |
| **Total Investments at Value** | &nbsp;&nbsp; $2958738025 | &nbsp;&nbsp; $46647279 | &nbsp;&nbsp; $13266728 | &nbsp;&nbsp; $3018652032 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Small Cap Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 98.7%** | **COMMON STOCKS — 98.7%** | **COMMON STOCKS — 98.7%** |
| **Aerospace/Defense — 6.9%** | **Aerospace/Defense — 6.9%** | **Aerospace/Defense — 6.9%** |
| &nbsp;&nbsp;&nbsp; AAR Corp.† | 61018 | &nbsp;&nbsp; $7149479 |
| &nbsp;&nbsp;&nbsp; Astronics Corp.† | 78144 | &nbsp;&nbsp; 6299969 |
| &nbsp;&nbsp;&nbsp; ATI, Inc.† | 60288 | &nbsp;&nbsp; 9862514 |
| &nbsp;&nbsp;&nbsp; Hexcel Corp. | 101792 | &nbsp;&nbsp; 9435101 |
| &nbsp;&nbsp;&nbsp; Karman Holdings, Inc.† | 51488 | &nbsp;&nbsp; 4536608 |
|  |  | &nbsp;&nbsp; 37283671 |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp; Farmer's Business Network, Inc.†(1)(2) | 6066 | &nbsp;&nbsp; 0 |
| **Airlines — 0.6%** | **Airlines — 0.6%** | **Airlines — 0.6%** |
| &nbsp;&nbsp;&nbsp; Alaska Air Group, Inc.† | 61753 | &nbsp;&nbsp; 3186455 |
| **Banks — 2.1%** | **Banks — 2.1%** | **Banks — 2.1%** |
| &nbsp;&nbsp;&nbsp; Bancorp, Inc.† | 77712 | &nbsp;&nbsp; 4079103 |
| &nbsp;&nbsp;&nbsp; Coastal Financial Corp.† | 32510 | &nbsp;&nbsp; 2411917 |
| &nbsp;&nbsp;&nbsp; SouthState Bank Corp. | 29222 | &nbsp;&nbsp; 2883335 |
| &nbsp;&nbsp;&nbsp; Triumph Financial, Inc.† | 33779 | &nbsp;&nbsp; 1886895 |
|  |  | &nbsp;&nbsp; 11261250 |
| **Biotechnology — 11.0%** | **Biotechnology — 11.0%** | **Biotechnology — 11.0%** |
| &nbsp;&nbsp;&nbsp; ADMA Biologics, Inc.† | 328342 | &nbsp;&nbsp; 5112285 |
| &nbsp;&nbsp;&nbsp; Akero Therapeutics, Inc. CVR†(1) | 49444 | &nbsp;&nbsp; 32139 |
| &nbsp;&nbsp;&nbsp; Arcellx, Inc.† | 33289 | &nbsp;&nbsp; 3787955 |
| &nbsp;&nbsp;&nbsp; Arcutis Biotherapeutics, Inc.† | 121767 | &nbsp;&nbsp; 3284056 |
| &nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc.† | 93295 | &nbsp;&nbsp; 6202252 |
| &nbsp;&nbsp;&nbsp; Celldex Therapeutics, Inc.† | 62296 | &nbsp;&nbsp; 1874487 |
| &nbsp;&nbsp;&nbsp; Cogent Biosciences, Inc.† | 74266 | &nbsp;&nbsp; 2885234 |
| &nbsp;&nbsp;&nbsp; Crinetics Pharmaceuticals, Inc.#† | 78246 | &nbsp;&nbsp; 3215911 |
| &nbsp;&nbsp;&nbsp; Cytokinetics, Inc.† | 37473 | &nbsp;&nbsp; 2331570 |
| &nbsp;&nbsp;&nbsp; Edgewise Therapeutics, Inc.† | 95492 | &nbsp;&nbsp; 2906776 |
| &nbsp;&nbsp;&nbsp; Evommune, Inc.† | 38499 | &nbsp;&nbsp; 1000974 |
| &nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.† | 35875 | &nbsp;&nbsp; 2911256 |
| &nbsp;&nbsp;&nbsp; Mineralys Therapeutics, Inc.† | 60199 | &nbsp;&nbsp; 1761423 |
| &nbsp;&nbsp;&nbsp; Newamsterdam Pharma Co. NV#† | 30031 | &nbsp;&nbsp; 1064899 |
| &nbsp;&nbsp;&nbsp; Nuvalent, Inc., Class A† | 32056 | &nbsp;&nbsp; 3268109 |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines, Inc.† | 9250 | &nbsp;&nbsp; 3114938 |
| &nbsp;&nbsp;&nbsp; Revolution Medicines, Inc.† | 37123 | &nbsp;&nbsp; 3787288 |
| &nbsp;&nbsp;&nbsp; Scholar Rock Holding Corp.† | 65933 | &nbsp;&nbsp; 2918854 |
| &nbsp;&nbsp;&nbsp; UroGen Pharma, Ltd.#† | 100880 | &nbsp;&nbsp; 2189096 |
| &nbsp;&nbsp;&nbsp; Vera Therapeutics, Inc.† | 62712 | &nbsp;&nbsp; 2558022 |
| &nbsp;&nbsp;&nbsp; Viking Therapeutics, Inc.#† | 24243 | &nbsp;&nbsp; 820383 |
| &nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc.† | 62142 | &nbsp;&nbsp; 2686399 |
|  |  | &nbsp;&nbsp; 59714306 |
| **Building Materials — 3.5%** | **Building Materials — 3.5%** | **Building Materials — 3.5%** |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, Inc. | 59980 | &nbsp;&nbsp; 3259313 |
| &nbsp;&nbsp;&nbsp; Hayward Holdings, Inc.† | 483521 | &nbsp;&nbsp; 7736336 |
| &nbsp;&nbsp;&nbsp; Titan America SA | 209541 | &nbsp;&nbsp; 3796883 |
| &nbsp;&nbsp;&nbsp; Trex Co., Inc.† | 104515 | &nbsp;&nbsp; 4329011 |
|  |  | &nbsp;&nbsp; 19121543 |
| **Chemicals — 1.2%** | **Chemicals — 1.2%** | **Chemicals — 1.2%** |
| &nbsp;&nbsp;&nbsp; Element Solutions, Inc. | 189787 | &nbsp;&nbsp; 6659626 |
| **Commercial Services — 2.8%** | **Commercial Services — 2.8%** | **Commercial Services — 2.8%** |
| &nbsp;&nbsp;&nbsp; Colliers International Group, Inc. | 29145 | &nbsp;&nbsp; 3460386 |
| &nbsp;&nbsp;&nbsp; First Advantage Corp.#† | 250162 | &nbsp;&nbsp; 2879364 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 44148 | &nbsp;&nbsp; 6171449 |
| &nbsp;&nbsp;&nbsp; Verra Mobility Corp.† | 146901 | &nbsp;&nbsp; 2454716 |
|  |  | &nbsp;&nbsp; 14965915 |
| **Computers — 0.0%** | **Computers — 0.0%** | **Computers — 0.0%** |
| &nbsp;&nbsp;&nbsp; Netskope, Inc., Class A† | 17859 | &nbsp;&nbsp; 192877 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Distribution/Wholesale — 2.0%** | **Distribution/Wholesale — 2.0%** | **Distribution/Wholesale — 2.0%** |
| &nbsp;&nbsp;&nbsp; OPENLANE, Inc.† | 216027 | &nbsp;&nbsp; $6158930 |
| &nbsp;&nbsp;&nbsp; SiteOne Landscape Supply, Inc.† | 31258 | &nbsp;&nbsp; 4466455 |
|  |  | &nbsp;&nbsp; 10625385 |
| **Diversified Financial Services — 3.3%** | **Diversified Financial Services — 3.3%** | **Diversified Financial Services — 3.3%** |
| &nbsp;&nbsp;&nbsp; Dave, Inc.† | 24810 | &nbsp;&nbsp; 4795029 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc.† | 20688 | &nbsp;&nbsp; 2876666 |
| &nbsp;&nbsp;&nbsp; Hamilton Lane, Inc., Class A | 34723 | &nbsp;&nbsp; 3643832 |
| &nbsp;&nbsp;&nbsp; Miami International Holdings, Inc.† | 80872 | &nbsp;&nbsp; 3445147 |
| &nbsp;&nbsp;&nbsp; Piper Sandler Cos. | 11542 | &nbsp;&nbsp; 3411238 |
|  |  | &nbsp;&nbsp; 18171912 |
| **Electric — 2.3%** | **Electric — 2.3%** | **Electric — 2.3%** |
| &nbsp;&nbsp;&nbsp; Oklo, Inc.† | 20629 | &nbsp;&nbsp; 1298595 |
| &nbsp;&nbsp;&nbsp; Talen Energy Corp.† | 15442 | &nbsp;&nbsp; 5728519 |
| &nbsp;&nbsp;&nbsp; TransAlta Corp.# | 393282 | &nbsp;&nbsp; 5405988 |
|  |  | &nbsp;&nbsp; 12433102 |
| **Electrical Components & Equipment — 2.2%** | **Electrical Components & Equipment — 2.2%** | **Electrical Components & Equipment — 2.2%** |
| &nbsp;&nbsp;&nbsp; Littelfuse, Inc. | 16305 | &nbsp;&nbsp; 5746861 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc.#† | 46498 | &nbsp;&nbsp; 6250726 |
|  |  | &nbsp;&nbsp; 11997587 |
| **Electronics — 2.9%** | **Electronics — 2.9%** | **Electronics — 2.9%** |
| &nbsp;&nbsp;&nbsp; Itron, Inc.† | 23442 | &nbsp;&nbsp; 2202376 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc.† | 164049 | &nbsp;&nbsp; 3545099 |
| &nbsp;&nbsp;&nbsp; Plexus Corp.† | 52375 | &nbsp;&nbsp; 10167559 |
|  |  | &nbsp;&nbsp; 15915034 |
| **Engineering & Construction — 5.0%** | **Engineering & Construction — 5.0%** | **Engineering & Construction — 5.0%** |
| &nbsp;&nbsp;&nbsp; Argan, Inc. | 14079 | &nbsp;&nbsp; 6353149 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc., Class A† | 74925 | &nbsp;&nbsp; 10067672 |
| &nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc.† | 25282 | &nbsp;&nbsp; 10823983 |
|  |  | &nbsp;&nbsp; 27244804 |
| **Environmental Control — 1.4%** | **Environmental Control — 1.4%** | **Environmental Control — 1.4%** |
| &nbsp;&nbsp;&nbsp; CECO Environmental Corp.#† | 123220 | &nbsp;&nbsp; 7448649 |
| **Food — 0.4%** | **Food — 0.4%** | **Food — 0.4%** |
| &nbsp;&nbsp;&nbsp; Premium Brands Holdings Corp. | 28779 | &nbsp;&nbsp; 2236620 |
| **Healthcare-Products — 2.7%** | **Healthcare-Products — 2.7%** | **Healthcare-Products — 2.7%** |
| &nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc.† | 521589 | &nbsp;&nbsp; 7104042 |
| &nbsp;&nbsp;&nbsp; SI-BONE, Inc.† | 212956 | &nbsp;&nbsp; 3305077 |
| &nbsp;&nbsp;&nbsp; Twist Bioscience Corp.† | 44900 | &nbsp;&nbsp; 2106708 |
| &nbsp;&nbsp;&nbsp; UFP Technologies, Inc.† | 9464 | &nbsp;&nbsp; 1992929 |
|  |  | &nbsp;&nbsp; 14508756 |
| **Healthcare-Services — 5.0%** | **Healthcare-Services — 5.0%** | **Healthcare-Services — 5.0%** |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | 50297 | &nbsp;&nbsp; 5426041 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. | 32147 | &nbsp;&nbsp; 6884923 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc.† | 59614 | &nbsp;&nbsp; 4559875 |
| &nbsp;&nbsp;&nbsp; PACS Group, Inc.† | 47072 | &nbsp;&nbsp; 1718599 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. † | 131686 | &nbsp;&nbsp; 2613967 |
| &nbsp;&nbsp;&nbsp; RadNet, Inc.#† | 52967 | &nbsp;&nbsp; 3697626 |
| &nbsp;&nbsp;&nbsp; U.S. Physical Therapy, Inc. | 28267 | &nbsp;&nbsp; 2345030 |
|  |  | &nbsp;&nbsp; 27246061 |
| **Human Resources — 0.0%** | **Human Resources — 0.0%** | **Human Resources — 0.0%** |
| &nbsp;&nbsp;&nbsp; Checkr, Inc.†(1)(2) | 5868 | &nbsp;&nbsp; 47590 |
| **Insurance — 1.1%** | **Insurance — 1.1%** | **Insurance — 1.1%** |
| &nbsp;&nbsp;&nbsp; Bowhead Specialty Holdings, Inc.† | 112503 | &nbsp;&nbsp; 2849701 |
| &nbsp;&nbsp;&nbsp; HCI Group, Inc. | 17584 | &nbsp;&nbsp; 3102169 |
|  |  | &nbsp;&nbsp; 5951870 |

---

------

**VALIC Company I Small Cap Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet — 3.2%** | **Internet — 3.2%** | **Internet — 3.2%** |
| &nbsp;&nbsp;&nbsp; Etoro Group, Ltd., Class A† | 69350 | &nbsp;&nbsp; $2126964 |
| &nbsp;&nbsp;&nbsp; Magnite, Inc.† | 317855 | &nbsp;&nbsp; 4329185 |
| &nbsp;&nbsp;&nbsp; Q2 Holdings, Inc.† | 90072 | &nbsp;&nbsp; 4334265 |
| &nbsp;&nbsp;&nbsp; RealReal, Inc.† | 196881 | &nbsp;&nbsp; 2413761 |
| &nbsp;&nbsp;&nbsp; Wayfair, Inc., Class A† | 51638 | &nbsp;&nbsp; 3941529 |
|  |  | &nbsp;&nbsp; 17145704 |
| **Investment Companies — 1.2%** | **Investment Companies — 1.2%** | **Investment Companies — 1.2%** |
| &nbsp;&nbsp;&nbsp; Core Scientific, Inc.#† | 209786 | &nbsp;&nbsp; 3560068 |
| &nbsp;&nbsp;&nbsp; Riot Platforms, Inc.† | 167220 | &nbsp;&nbsp; 2724014 |
|  |  | &nbsp;&nbsp; 6284082 |
| **Iron/Steel — 1.5%** | **Iron/Steel — 1.5%** | **Iron/Steel — 1.5%** |
| &nbsp;&nbsp;&nbsp; Carpenter Technology Corp. | 19985 | &nbsp;&nbsp; 7955429 |
| **Leisure Time — 3.0%** | **Leisure Time — 3.0%** | **Leisure Time — 3.0%** |
| &nbsp;&nbsp;&nbsp; Callaway Golf Co † | 181248 | &nbsp;&nbsp; 2548347 |
| &nbsp;&nbsp;&nbsp; Brunswick Corp. | 31981 | &nbsp;&nbsp; 2546327 |
| &nbsp;&nbsp;&nbsp; Life Time Group Holdings, Inc.† | 181426 | &nbsp;&nbsp; 4898502 |
| &nbsp;&nbsp;&nbsp; OneSpaWorld Holdings, Ltd. | 109922 | &nbsp;&nbsp; 2366621 |
| &nbsp;&nbsp;&nbsp; Planet Fitness, Inc., Class A† | 47691 | &nbsp;&nbsp; 3917815 |
|  |  | &nbsp;&nbsp; 16277612 |
| **Machinery-Construction & Mining — 0.4%** | **Machinery-Construction & Mining — 0.4%** | **Machinery-Construction & Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp; Forgent Power Solutions, Inc.† | 65870 | &nbsp;&nbsp; 2265269 |
| **Machinery-Diversified — 3.7%** | **Machinery-Diversified — 3.7%** | **Machinery-Diversified — 3.7%** |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | 14071 | &nbsp;&nbsp; 3976183 |
| &nbsp;&nbsp;&nbsp; Cognex Corp. | 72172 | &nbsp;&nbsp; 3926157 |
| &nbsp;&nbsp;&nbsp; Flowserve Corp. | 60108 | &nbsp;&nbsp; 5320760 |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp. | 31188 | &nbsp;&nbsp; 6891924 |
|  |  | &nbsp;&nbsp; 20115024 |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| &nbsp;&nbsp;&nbsp; New York Times Co., Class A | 54827 | &nbsp;&nbsp; 4374646 |
| **Metal Fabricate/Hardware — 1.8%** | **Metal Fabricate/Hardware — 1.8%** | **Metal Fabricate/Hardware — 1.8%** |
| &nbsp;&nbsp;&nbsp; RBC Bearings, Inc.† | 16836 | &nbsp;&nbsp; 9696189 |
| **Mining — 1.4%** | **Mining — 1.4%** | **Mining — 1.4%** |
| &nbsp;&nbsp;&nbsp; Centrus Energy Corp., Class A#† | 10514 | &nbsp;&nbsp; 2130031 |
| &nbsp;&nbsp;&nbsp; SSR Mining, Inc.† | 169051 | &nbsp;&nbsp; 5441752 |
|  |  | &nbsp;&nbsp; 7571783 |
| **Miscellaneous Manufacturing — 1.3%** | **Miscellaneous Manufacturing — 1.3%** | **Miscellaneous Manufacturing — 1.3%** |
| &nbsp;&nbsp;&nbsp; Fabrinet† | 12617 | &nbsp;&nbsp; 6884214 |
| **Oil & Gas — 0.9%** | **Oil & Gas — 0.9%** | **Oil & Gas — 0.9%** |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc., Class A | 141525 | &nbsp;&nbsp; 5038290 |
| **Oil & Gas Services — 0.4%** | **Oil & Gas Services — 0.4%** | **Oil & Gas Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Expro Group Holdings NV† | 135121 | &nbsp;&nbsp; 2413261 |
| **Pharmaceuticals — 3.2%** | **Pharmaceuticals — 3.2%** | **Pharmaceuticals — 3.2%** |
| &nbsp;&nbsp;&nbsp; Alkermes PLC† | 99075 | &nbsp;&nbsp; 2982158 |
| &nbsp;&nbsp;&nbsp; Centessa Pharmaceuticals PLC ADR† | 100112 | &nbsp;&nbsp; 2689008 |
| &nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc.† | 13840 | &nbsp;&nbsp; 5978880 |
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc.† | 44088 | &nbsp;&nbsp; 4059623 |
| &nbsp;&nbsp;&nbsp; Vaxcyte, Inc.† | 28906 | &nbsp;&nbsp; 1784656 |
|  |  | &nbsp;&nbsp; 17494325 |
| **Private Equity — 0.3%** | **Private Equity — 0.3%** | **Private Equity — 0.3%** |
| &nbsp;&nbsp;&nbsp; Ridgepost Capital, Inc.# | 238833 | &nbsp;&nbsp; 1927382 |
| **Real Estate — 0.7%** | **Real Estate — 0.7%** | **Real Estate — 0.7%** |
| &nbsp;&nbsp;&nbsp; FirstService Corp.# | 24056 | &nbsp;&nbsp; 3790621 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **REITS — 0.6%** | **REITS — 0.6%** | **REITS — 0.6%** |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 68179 | &nbsp;&nbsp; $3561671 |
| **Retail — 5.0%** | **Retail — 5.0%** | **Retail — 5.0%** |
| &nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.† | 33562 | &nbsp;&nbsp; 6350602 |
| &nbsp;&nbsp;&nbsp; Five Below, Inc.† | 30496 | &nbsp;&nbsp; 6816771 |
| &nbsp;&nbsp;&nbsp; Freshpet, Inc.† | 33889 | &nbsp;&nbsp; 2861926 |
| &nbsp;&nbsp;&nbsp; National Vision Holdings, Inc.† | 183277 | &nbsp;&nbsp; 4942981 |
| &nbsp;&nbsp;&nbsp; Ollie's Bargain Outlet Holdings, Inc.† | 20205 | &nbsp;&nbsp; 2163955 |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. | 25086 | &nbsp;&nbsp; 3878797 |
|  |  | &nbsp;&nbsp; 27015032 |
| **Semiconductors — 7.0%** | **Semiconductors — 7.0%** | **Semiconductors — 7.0%** |
| &nbsp;&nbsp;&nbsp; Impinj, Inc.† | 32049 | &nbsp;&nbsp; 3931130 |
| &nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.† | 38417 | &nbsp;&nbsp; 3673434 |
| &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc.† | 21911 | &nbsp;&nbsp; 5436557 |
| &nbsp;&nbsp;&nbsp; MKS, Inc. | 22965 | &nbsp;&nbsp; 5614024 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc.† | 11633 | &nbsp;&nbsp; 2511448 |
| &nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.† | 44014 | &nbsp;&nbsp; 9002183 |
| &nbsp;&nbsp;&nbsp; SiTime Corp.† | 15563 | &nbsp;&nbsp; 6192207 |
| &nbsp;&nbsp;&nbsp; Veeco Instruments, Inc.† | 51376 | &nbsp;&nbsp; 1570051 |
|  |  | &nbsp;&nbsp; 37931034 |
| **Software — 4.4%** | **Software — 4.4%** | **Software — 4.4%** |
| &nbsp;&nbsp;&nbsp; Agilysys, Inc.#† | 63791 | &nbsp;&nbsp; 4603796 |
| &nbsp;&nbsp;&nbsp; Chime Financial, Inc., Class A† | 127155 | &nbsp;&nbsp; 2813940 |
| &nbsp;&nbsp;&nbsp; Descartes Systems Group, Inc.† | 25092 | &nbsp;&nbsp; 1662345 |
| &nbsp;&nbsp;&nbsp; Elastic NV† | 30937 | &nbsp;&nbsp; 1610889 |
| &nbsp;&nbsp;&nbsp; Hinge Health, Inc., Class A† | 103089 | &nbsp;&nbsp; 4408086 |
| &nbsp;&nbsp;&nbsp; Klaviyo, Inc., Class A† | 193265 | &nbsp;&nbsp; 3364744 |
| &nbsp;&nbsp;&nbsp; Omada Health, Inc.#† | 214089 | &nbsp;&nbsp; 2629013 |
| &nbsp;&nbsp;&nbsp; Pegasystems, Inc. | 42556 | &nbsp;&nbsp; 1860974 |
| &nbsp;&nbsp;&nbsp; Phreesia, Inc.† | 86272 | &nbsp;&nbsp; 1063734 |
|  |  | &nbsp;&nbsp; 24017521 |
| **Telecommunications — 1.5%** | **Telecommunications — 1.5%** | **Telecommunications — 1.5%** |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding, Ltd.† | 42733 | &nbsp;&nbsp; 4797634 |
| &nbsp;&nbsp;&nbsp; Globalstar, Inc.#† | 52179 | &nbsp;&nbsp; 3249186 |
| &nbsp;&nbsp;&nbsp; NII Holdings, Inc.(1) | 3000 | &nbsp;&nbsp; 0 |
|  |  | &nbsp;&nbsp; 8046820 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $468,398,810)<br>|  | &nbsp;&nbsp; 536018922 |
| **CONVERTIBLE PREFERRED STOCKS — 0.1%** | **CONVERTIBLE PREFERRED STOCKS — 0.1%** | **CONVERTIBLE PREFERRED STOCKS — 0.1%** |
| **Agriculture — 0.0%** | **Agriculture — 0.0%** | **Agriculture — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Farmer's Business Network, Inc. <br>Series D†(1)(2)<br>| 2221 | &nbsp;&nbsp; 0 |
| **E-Commerce/Services — 0.0%** | **E-Commerce/Services — 0.0%** | **E-Commerce/Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Flexe, Inc. <br>Series C†(1)(2)<br>| 4643 | &nbsp;&nbsp; 13558 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sila Nanotechnologies, Inc. <br>Series F†(1)(2)<br>| 2608 | &nbsp;&nbsp; 28323 |
| **Human Resources — 0.1%** | **Human Resources — 0.1%** | **Human Resources — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Checkr, Inc. <br>Series C †(1)(2)<br>| 8994 | &nbsp;&nbsp; 72941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Checkr, Inc. <br>Series D†(1)(2)<br>| 12252 | &nbsp;&nbsp; 99364 |
|  |  | &nbsp;&nbsp; 172305 |
| **Industrial Automation/Robotics — 0.0%** | **Industrial Automation/Robotics — 0.0%** | **Industrial Automation/Robotics — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nuro, Inc. <br>Series C †(1)(2)<br>| 6234 | &nbsp;&nbsp; 94133 |

---

------

**VALIC Company I Small Cap Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **CONVERTIBLE PREFERRED STOCKS (continued)** | **CONVERTIBLE PREFERRED STOCKS (continued)** | **CONVERTIBLE PREFERRED STOCKS (continued)** |
| **Medical - Biomedical/Gene — 0.0%** | **Medical - Biomedical/Gene — 0.0%** | **Medical - Biomedical/Gene — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; National Resilience, Inc. <br>Series B†(1)(2)<br>| 5496 | &nbsp;&nbsp; $82440 |
| **Medical Information Systems — 0.0%** | **Medical Information Systems — 0.0%** | **Medical Information Systems — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kardium, Inc. <br>Series D†(1)(2)<br>| 58843 | &nbsp;&nbsp; 60238 |
| **Retirement/Aged Care — 0.0%** | **Retirement/Aged Care — 0.0%** | **Retirement/Aged Care — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Honor Tech, Inc. <br>Series D†(1)(2)<br>| 43123 | &nbsp;&nbsp; 59078 |
| **Transportation — 0.0%** | **Transportation — 0.0%** | **Transportation — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Haul Hub, Inc. <br>Series B†(1)(2)<br>| 2168 | &nbsp;&nbsp; 911 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Preferred Stocks** <br>(cost $721,279)<br>|  | &nbsp;&nbsp; 510986 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $469,120,089)<br>|  | &nbsp;&nbsp; 536529908 |
| **SHORT-TERM INVESTMENTS — 1.7%** | **SHORT-TERM INVESTMENTS — 1.7%** | **SHORT-TERM INVESTMENTS — 1.7%** |
| **Unaffiliated Investment Companies — 1.7%** | **Unaffiliated Investment Companies — 1.7%** | **Unaffiliated Investment Companies — 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(3)<br>| 7229400 | &nbsp;&nbsp; 7229400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(3)(4)<br>| 2005307 | &nbsp;&nbsp; 2005307 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $9,234,707)<br>|  | &nbsp;&nbsp; 9234707 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $478,354,796)<br>| 100.5<br> %<br>| &nbsp;&nbsp; 545764615 |
| Other assets less liabilities | (0.5)<br>| &nbsp;&nbsp; (2969304)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $542795311 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| (1) | Securities classified as Level 3 (see Note 1). |
| (2) | &nbsp;&nbsp; Denotes a restricted security that: (a) cannot be offered for public sale without first being <br> registered, or being able to take advantage of an exemption from registration, under the <br> Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual <br> restriction on public sales; or (c) is otherwise subject to a restriction on sales by <br> operation of applicable law. Restricted securities are valued pursuant to Note 1. Certain <br> restricted securities held by the Fund may not be sold except in exempt transactions or <br> in a public offering registered under the 1933 Act. The Fund has no right to demand <br> registration of these securities. The risk of investing in certain restricted securities is <br> greater than the risk of investing in the securities of widely held, publicly traded <br> companies. To the extent applicable, lack of a secondary market and resale restrictions <br> may result in the inability of a Fund to sell a security at a fair price and may substantially <br> delay the sale of the security. In addition, certain restricted securities may exhibit greater <br> price volatility than securities for which secondary markets exist. As of February 28, <br> 2026, the Fund held the following restricted securities:<br>|

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| Checkr, Inc. | 06/29/18, 12/02/19 | 5868 | $44688 | $47590 | $8.11 | 0.0<br> %<br>|
| &nbsp;&nbsp;&nbsp; Farmer's Business Network, <br> Inc.<br>| 11/03/17 | 6066 | 112003 | 0 | 0.00 | 0.0 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition**<br> **Date**<br>| **Shares or**<br> **Principal**<br> **Amount**<br>| **Acquisition**<br> **Cost**<br>| **Value** | **Value**<br> **Per Share**<br>| **% of**<br> **Net Assets**<br>|
| **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** | **<u>Convertible Preferred Stocks</u>** |
| &nbsp;&nbsp;&nbsp; Checkr, Inc. <br>Series C<br>| 04/10/18 | 8994 | $40926 | $72941 | $8.11 | 0.0<br> %<br>|
| &nbsp;&nbsp;&nbsp; Checkr, Inc. <br>Series D<br>| 09/06/19 | 12252 | 123526 | 99364 | 8.11 | 0.1 |
| &nbsp;&nbsp;&nbsp; Farmer's Business Network, <br> Inc. <br>Series D<br>| 11/03/17 | 2221 | 41009 | 0 | 0.00 | 0.0 |
| &nbsp;&nbsp;&nbsp; Flexe, Inc. <br>Series C<br>| 11/18/20 | 4643 | 56492 | 13558 | 2.92 | 0.0 |
| &nbsp;&nbsp;&nbsp; Haul Hub, Inc. <br>Series B<br>| 02/14/20 | 2168 | 31609 | 911 | 0.42 | 0.0 |
| &nbsp;&nbsp;&nbsp; Honor Tech, Inc. <br>Series D<br>| 10/16/20 | 43123 | 103844 | 59078 | 1.37 | 0.0 |
| &nbsp;&nbsp;&nbsp; Kardium, Inc. <br>Series D<br>| 01/08/21 | 58843 | 59775 | 60238 | 1.02 | 0.0 |
| &nbsp;&nbsp;&nbsp; National Resilience, Inc. <br>Series B<br>| 10/23/20 | 5496 | 75075 | 82440 | 15.00 | 0.0 |
| &nbsp;&nbsp;&nbsp; Nuro, Inc. <br>Series C<br>| 10/30/20 | 6234 | 81383 | 94133 | 15.10 | 0.0 |
| &nbsp;&nbsp;&nbsp; Sila Nanotechnologies, Inc. <br>Series F<br>| 01/07/21 | 2608 | 107640 | 28323 | 10.86 | 0.0 |
|  |  |  |  | $558576 |  | 0.1<br> %\*\*<br>|

---

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

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Fund and may not equal the sum of the individual percentages shown due to rounding. 

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) At February 28, 2026, the Fund had loaned securities with a total value of $18,439,307. This was secured by collateral of $2,005,307, which was received in cash and subsequently invested in short-term investments currently valued at $2,005,307 as reported in the Portfolio of Investments. Additional collateral of $17,312,427 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $9327 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 46958 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 433832 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 02/15/2056 | 16822310 |

---

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

ADR—American Depositary Receipt <br> CVR—Contingent Value Rights

------

**VALIC Company I Small Cap Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Counterparty** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **Contract to** <br>**Deliver** | &nbsp;&nbsp; **In** <br>**Exchange For** | &nbsp;&nbsp; **In** <br>**Exchange For** | **Delivery** <br>**Date**<br>| **Unrealized** <br>**Appreciation**<br>| **Unrealized** <br>**(Depreciation)**<br>|
| Citibank, N.A. | CAD | &nbsp;&nbsp; 16525857 | USD | &nbsp;&nbsp; 12081174 | &nbsp;&nbsp; 03/27/2026 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(46915)<br>|
|  | USD | &nbsp;&nbsp; 2051677 | CAD | &nbsp;&nbsp; 2810689 | &nbsp;&nbsp; 03/27/2026 | &nbsp;&nbsp; 11047 | &nbsp;&nbsp; — |
| Unrealized Appreciation (Depreciation) |  |  |  |  |  | &nbsp;&nbsp; $11047 | &nbsp;&nbsp; $(46915)<br>|

---

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

CAD—Canadian Dollar <br> USD—United States Dollar

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Agriculture | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; 59682167 | &nbsp;&nbsp; — | &nbsp;&nbsp; 32139 | &nbsp;&nbsp; 59714306 |
| &nbsp;&nbsp;&nbsp; Human Resources | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 47590 | &nbsp;&nbsp; 47590 |
| &nbsp;&nbsp;&nbsp; Telecommunications | &nbsp;&nbsp; 8046820 | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 8046820 |
| &nbsp;&nbsp;&nbsp; Other Industries | &nbsp;&nbsp; 468210206 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 468210206 |
| Convertible Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 510986 | &nbsp;&nbsp; 510986 |
| Short-Term Investments | &nbsp;&nbsp; 9234707 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9234707 |
| **Total Investments at Value** | &nbsp;&nbsp; $545173900 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $590715 | &nbsp;&nbsp; $545764615 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11047 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $11047 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Forward Foreign Currency Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $46915 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $46915 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 98.1%** | **COMMON STOCKS — 98.1%** | **COMMON STOCKS — 98.1%** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp; Advantage Solutions, Inc.#† | 38322 | &nbsp;&nbsp; $20016 |
| &nbsp;&nbsp;&nbsp; Arena Group Holdings, Inc.#† | 6726 | &nbsp;&nbsp; 19438 |
| &nbsp;&nbsp;&nbsp; Boston Omaha Corp., Class A#† | 9272 | &nbsp;&nbsp; 114509 |
| &nbsp;&nbsp;&nbsp; National CineMedia, Inc. | 26068 | &nbsp;&nbsp; 92802 |
| &nbsp;&nbsp;&nbsp; Nexxen International, Ltd.† | 14413 | &nbsp;&nbsp; 92820 |
| &nbsp;&nbsp;&nbsp; Stagwell, Inc.#† | 45435 | &nbsp;&nbsp; 218997 |
| &nbsp;&nbsp;&nbsp; TechTarget, Inc.#† | 10795 | &nbsp;&nbsp; 37890 |
|  |  | &nbsp;&nbsp; 596472 |
| **Aerospace/Defense — 2.0%** | **Aerospace/Defense — 2.0%** | **Aerospace/Defense — 2.0%** |
| &nbsp;&nbsp;&nbsp; AAR Corp.† | 15650 | &nbsp;&nbsp; 1833710 |
| &nbsp;&nbsp;&nbsp; AeroVironment, Inc.† | 15209 | &nbsp;&nbsp; 3836470 |
| &nbsp;&nbsp;&nbsp; AerSale Corp.† | 13079 | &nbsp;&nbsp; 102016 |
| &nbsp;&nbsp;&nbsp; AIRO Group Holdings, Inc.† | 3001 | &nbsp;&nbsp; 29410 |
| &nbsp;&nbsp;&nbsp; Amprius Technologies, Inc.† | 43538 | &nbsp;&nbsp; 467163 |
| &nbsp;&nbsp;&nbsp; Archer Aviation, Inc., Class A#† | 253673 | &nbsp;&nbsp; 1806152 |
| &nbsp;&nbsp;&nbsp; Astronics Corp.† | 12407 | &nbsp;&nbsp; 1000252 |
| &nbsp;&nbsp;&nbsp; Ducommun, Inc.† | 5635 | &nbsp;&nbsp; 696430 |
| &nbsp;&nbsp;&nbsp; Eve Holding, Inc.† | 40458 | &nbsp;&nbsp; 121374 |
| &nbsp;&nbsp;&nbsp; Firefly Aerospace, Inc.#† | 8689 | &nbsp;&nbsp; 167437 |
| &nbsp;&nbsp;&nbsp; Intuitive Machines, Inc.#† | 44476 | &nbsp;&nbsp; 732964 |
| &nbsp;&nbsp;&nbsp; Joby Aviation, Inc.† | 207283 | &nbsp;&nbsp; 2085267 |
| &nbsp;&nbsp;&nbsp; Kratos Defense & Security Solutions, Inc.† | 67050 | &nbsp;&nbsp; 5778369 |
| &nbsp;&nbsp;&nbsp; Mercury Systems, Inc.† | 20928 | &nbsp;&nbsp; 1863220 |
| &nbsp;&nbsp;&nbsp; Moog, Inc., Class A | 11313 | &nbsp;&nbsp; 3817346 |
| &nbsp;&nbsp;&nbsp; National Presto Industries, Inc. | 2022 | &nbsp;&nbsp; 266783 |
| &nbsp;&nbsp;&nbsp; Red Cat Holdings, Inc.† | 41644 | &nbsp;&nbsp; 485153 |
| &nbsp;&nbsp;&nbsp; Redwire Corp.† | 29097 | &nbsp;&nbsp; 263910 |
| &nbsp;&nbsp;&nbsp; Voyager Technologies, Inc., Class A† | 5267 | &nbsp;&nbsp; 140576 |
|  |  | &nbsp;&nbsp; 25494002 |
| **Agriculture — 0.3%** | **Agriculture — 0.3%** | **Agriculture — 0.3%** |
| &nbsp;&nbsp;&nbsp; Alico, Inc. | 2172 | &nbsp;&nbsp; 89660 |
| &nbsp;&nbsp;&nbsp; Andersons, Inc. | 13284 | &nbsp;&nbsp; 867312 |
| &nbsp;&nbsp;&nbsp; Dole PLC | 33188 | &nbsp;&nbsp; 532336 |
| &nbsp;&nbsp;&nbsp; Fresh Del Monte Produce, Inc. | 13681 | &nbsp;&nbsp; 587325 |
| &nbsp;&nbsp;&nbsp; Ispire Technology, Inc.#† | 7662 | &nbsp;&nbsp; 18006 |
| &nbsp;&nbsp;&nbsp; Limoneira Co. | 6773 | &nbsp;&nbsp; 95432 |
| &nbsp;&nbsp;&nbsp; Tejon Ranch Co.#† | 8001 | &nbsp;&nbsp; 140898 |
| &nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. | 7029 | &nbsp;&nbsp; 962903 |
| &nbsp;&nbsp;&nbsp; Universal Corp. | 9532 | &nbsp;&nbsp; 512154 |
| &nbsp;&nbsp;&nbsp; Vital Farms, Inc.#† | 13791 | &nbsp;&nbsp; 290852 |
|  |  | &nbsp;&nbsp; 4096878 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| &nbsp;&nbsp;&nbsp; Allegiant Travel Co.† | 5693 | &nbsp;&nbsp; 581540 |
| &nbsp;&nbsp;&nbsp; Frontier Group Holdings, Inc.#† | 36973 | &nbsp;&nbsp; 164160 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp.† | 121539 | &nbsp;&nbsp; 673326 |
| &nbsp;&nbsp;&nbsp; SkyWest, Inc.† | 16186 | &nbsp;&nbsp; 1684639 |
| &nbsp;&nbsp;&nbsp; Sun Country Airlines Holdings, Inc.† | 20153 | &nbsp;&nbsp; 396611 |
|  |  | &nbsp;&nbsp; 3500276 |
| **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |
| &nbsp;&nbsp;&nbsp; Capri Holdings, Ltd.† | 47018 | &nbsp;&nbsp; 964339 |
| &nbsp;&nbsp;&nbsp; Carter's, Inc. | 14169 | &nbsp;&nbsp; 475370 |
| &nbsp;&nbsp;&nbsp; Ermenegildo Zegna NV# | 24401 | &nbsp;&nbsp; 274999 |
| &nbsp;&nbsp;&nbsp; Kontoor Brands, Inc. | 22153 | &nbsp;&nbsp; 1444597 |
| &nbsp;&nbsp;&nbsp; Lakeland Industries, Inc.# | 3724 | &nbsp;&nbsp; 34149 |
| &nbsp;&nbsp;&nbsp; Oxford Industries, Inc.# | 5610 | &nbsp;&nbsp; 222100 |
| &nbsp;&nbsp;&nbsp; Rocky Brands, Inc. | 2871 | &nbsp;&nbsp; 129769 |
| &nbsp;&nbsp;&nbsp; Steven Madden, Ltd. | 28922 | &nbsp;&nbsp; 1044084 |
| &nbsp;&nbsp;&nbsp; Superior Group of Cos., Inc. | 4600 | &nbsp;&nbsp; 45678 |
| &nbsp;&nbsp;&nbsp; Torrid Holdings, Inc.† | 9630 | &nbsp;&nbsp; 9823 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Apparel (continued)** | **Apparel (continued)** | **Apparel (continued)** |
| &nbsp;&nbsp;&nbsp; Weyco Group, Inc. | 2158 | &nbsp;&nbsp; $67481 |
| &nbsp;&nbsp;&nbsp; Wolverine World Wide, Inc. | 31752 | &nbsp;&nbsp; 561058 |
|  |  | &nbsp;&nbsp; 5273447 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Blue Bird Corp.† | 12896 | &nbsp;&nbsp; 751450 |
| &nbsp;&nbsp;&nbsp; Faraday Future Intelligent Electric, Inc.#† | 56002 | &nbsp;&nbsp; 27413 |
| &nbsp;&nbsp;&nbsp; Hyliion Holdings Corp.#† | 53545 | &nbsp;&nbsp; 109767 |
| &nbsp;&nbsp;&nbsp; Wabash National Corp. | 15707 | &nbsp;&nbsp; 159426 |
|  |  | &nbsp;&nbsp; 1048056 |
| **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** |
| &nbsp;&nbsp;&nbsp; Dauch Corp.† | 92282 | &nbsp;&nbsp; 609061 |
| &nbsp;&nbsp;&nbsp; Adient PLC† | 33104 | &nbsp;&nbsp; 805089 |
| &nbsp;&nbsp;&nbsp; Aeva Technologies, Inc.#† | 15403 | &nbsp;&nbsp; 204244 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Holdings, Inc.† | 6601 | &nbsp;&nbsp; 253742 |
| &nbsp;&nbsp;&nbsp; Dana, Inc. | 47342 | &nbsp;&nbsp; 1620990 |
| &nbsp;&nbsp;&nbsp; Dorman Products, Inc.† | 11098 | &nbsp;&nbsp; 1308010 |
| &nbsp;&nbsp;&nbsp; Douglas Dynamics, Inc. | 9263 | &nbsp;&nbsp; 425357 |
| &nbsp;&nbsp;&nbsp; Fox Factory Holding Corp.† | 17063 | &nbsp;&nbsp; 287341 |
| &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. | 63905 | &nbsp;&nbsp; 1301106 |
| &nbsp;&nbsp;&nbsp; Gentherm, Inc.† | 12036 | &nbsp;&nbsp; 394420 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co.† | 111585 | &nbsp;&nbsp; 920576 |
| &nbsp;&nbsp;&nbsp; Holley, Inc.† | 29526 | &nbsp;&nbsp; 120466 |
| &nbsp;&nbsp;&nbsp; indie Semiconductor, Inc., Class A† | 78498 | &nbsp;&nbsp; 287303 |
| &nbsp;&nbsp;&nbsp; Methode Electronics, Inc. | 14104 | &nbsp;&nbsp; 119320 |
| &nbsp;&nbsp;&nbsp; Microvast Holdings, Inc.#† | 77827 | &nbsp;&nbsp; 174332 |
| &nbsp;&nbsp;&nbsp; Miller Industries, Inc. | 4261 | &nbsp;&nbsp; 179090 |
| &nbsp;&nbsp;&nbsp; Motorcar Parts of America, Inc.† | 5096 | &nbsp;&nbsp; 52693 |
| &nbsp;&nbsp;&nbsp; Phinia, Inc. | 15333 | &nbsp;&nbsp; 1113636 |
| &nbsp;&nbsp;&nbsp; Solid Power, Inc.#† | 60743 | &nbsp;&nbsp; 215030 |
| &nbsp;&nbsp;&nbsp; Standard Motor Products, Inc. | 8444 | &nbsp;&nbsp; 335058 |
| &nbsp;&nbsp;&nbsp; Strattec Security Corp.† | 1563 | &nbsp;&nbsp; 137544 |
| &nbsp;&nbsp;&nbsp; Titan International, Inc.† | 18692 | &nbsp;&nbsp; 181873 |
| &nbsp;&nbsp;&nbsp; Visteon Corp. | 11092 | &nbsp;&nbsp; 1061172 |
| &nbsp;&nbsp;&nbsp; XPEL, Inc.#† | 10489 | &nbsp;&nbsp; 447041 |
|  |  | &nbsp;&nbsp; 12554494 |
| **Banks — 8.5%** | **Banks — 8.5%** | **Banks — 8.5%** |
| &nbsp;&nbsp;&nbsp; Mechanics Bancorp, Class A | 19323 | &nbsp;&nbsp; 275546 |
| &nbsp;&nbsp;&nbsp; 1st Source Corp. | 7417 | &nbsp;&nbsp; 497013 |
| &nbsp;&nbsp;&nbsp; ACNB Corp. | 4430 | &nbsp;&nbsp; 223272 |
| &nbsp;&nbsp;&nbsp; Alerus Financial Corp. | 9632 | &nbsp;&nbsp; 229627 |
| &nbsp;&nbsp;&nbsp; Amalgamated Financial Corp. | 9390 | &nbsp;&nbsp; 361421 |
| &nbsp;&nbsp;&nbsp; Amerant Bancorp, Inc. | 14585 | &nbsp;&nbsp; 311390 |
| &nbsp;&nbsp;&nbsp; Ameris Bancorp | 26607 | &nbsp;&nbsp; 2066300 |
| &nbsp;&nbsp;&nbsp; Ames National Corp. | 3617 | &nbsp;&nbsp; 97695 |
| &nbsp;&nbsp;&nbsp; Arrow Financial Corp. | 6941 | &nbsp;&nbsp; 231205 |
| &nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 66909 | &nbsp;&nbsp; 1767067 |
| &nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp. | 57336 | &nbsp;&nbsp; 2124872 |
| &nbsp;&nbsp;&nbsp; Avidbank Holdings, Inc.† | 1089 | &nbsp;&nbsp; 31450 |
| &nbsp;&nbsp;&nbsp; BancFirst Corp. | 8444 | &nbsp;&nbsp; 928840 |
| &nbsp;&nbsp;&nbsp; Bancorp, Inc.† | 16254 | &nbsp;&nbsp; 853172 |
| &nbsp;&nbsp;&nbsp; Bank First Corp. | 3747 | &nbsp;&nbsp; 504608 |
| &nbsp;&nbsp;&nbsp; Bank of Hawaii Corp. | 14348 | &nbsp;&nbsp; 1087148 |
| &nbsp;&nbsp;&nbsp; Bank of Marin Bancorp | 5583 | &nbsp;&nbsp; 138961 |
| &nbsp;&nbsp;&nbsp; Bank of N.T. Butterfield & Son, Ltd. | 16910 | &nbsp;&nbsp; 858182 |
| &nbsp;&nbsp;&nbsp; Bank7 Corp. | 1682 | &nbsp;&nbsp; 68424 |
| &nbsp;&nbsp;&nbsp; BankUnited, Inc. | 28970 | &nbsp;&nbsp; 1352899 |
| &nbsp;&nbsp;&nbsp; Bankwell Financial Group, Inc. | 2759 | &nbsp;&nbsp; 128845 |
| &nbsp;&nbsp;&nbsp; Banner Corp. | 13428 | &nbsp;&nbsp; 790238 |
| &nbsp;&nbsp;&nbsp; Bar Harbor Bankshares | 7018 | &nbsp;&nbsp; 226401 |
| &nbsp;&nbsp;&nbsp; BayCom Corp. | 4258 | &nbsp;&nbsp; 125185 |
| &nbsp;&nbsp;&nbsp; BCB Bancorp, Inc. | 6313 | &nbsp;&nbsp; 50504 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; Blue Foundry Bancorp† | 7295 | &nbsp;&nbsp; $96148 |
| &nbsp;&nbsp;&nbsp; Blue Ridge Bankshares, Inc.# | 26121 | &nbsp;&nbsp; 106051 |
| &nbsp;&nbsp;&nbsp; Bridgewater Bancshares, Inc.† | 8254 | &nbsp;&nbsp; 150883 |
| &nbsp;&nbsp;&nbsp; Burke & Herbert Financial Services Corp. | 5477 | &nbsp;&nbsp; 352938 |
| &nbsp;&nbsp;&nbsp; Business First Bancshares, Inc.# | 11595 | &nbsp;&nbsp; 316543 |
| &nbsp;&nbsp;&nbsp; Byline Bancorp, Inc. | 12527 | &nbsp;&nbsp; 390842 |
| &nbsp;&nbsp;&nbsp; C & F Financial Corp. | 1241 | &nbsp;&nbsp; 90370 |
| &nbsp;&nbsp;&nbsp; California Bancorp | 9840 | &nbsp;&nbsp; 180170 |
| &nbsp;&nbsp;&nbsp; Camden National Corp. | 6953 | &nbsp;&nbsp; 320950 |
| &nbsp;&nbsp;&nbsp; Capital Bancorp, Inc. | 4472 | &nbsp;&nbsp; 131522 |
| &nbsp;&nbsp;&nbsp; Capital City Bank Group, Inc. | 5383 | &nbsp;&nbsp; 230635 |
| &nbsp;&nbsp;&nbsp; Carter Bankshares, Inc.† | 8815 | &nbsp;&nbsp; 183705 |
| &nbsp;&nbsp;&nbsp; Cathay General Bancorp | 26738 | &nbsp;&nbsp; 1329146 |
| &nbsp;&nbsp;&nbsp; CB Financial Services, Inc. | 1896 | &nbsp;&nbsp; 66000 |
| &nbsp;&nbsp;&nbsp; Central Pacific Financial Corp. | 9572 | &nbsp;&nbsp; 304868 |
| &nbsp;&nbsp;&nbsp; Chain Bridge Bancorp, Inc., Class A† | 952 | &nbsp;&nbsp; 32844 |
| &nbsp;&nbsp;&nbsp; Chemung Financial Corp. | 1693 | &nbsp;&nbsp; 93995 |
| &nbsp;&nbsp;&nbsp; ChoiceOne Financial Services, Inc. | 5464 | &nbsp;&nbsp; 156380 |
| &nbsp;&nbsp;&nbsp; Citizens & Northern Corp. | 6610 | &nbsp;&nbsp; 148461 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Services, Inc. | 1771 | &nbsp;&nbsp; 106366 |
| &nbsp;&nbsp;&nbsp; City Holding Co. | 5542 | &nbsp;&nbsp; 664874 |
| &nbsp;&nbsp;&nbsp; Civista Bancshares, Inc. | 8111 | &nbsp;&nbsp; 193123 |
| &nbsp;&nbsp;&nbsp; CNB Financial Corp. | 11712 | &nbsp;&nbsp; 328053 |
| &nbsp;&nbsp;&nbsp; Coastal Financial Corp.† | 5082 | &nbsp;&nbsp; 377034 |
| &nbsp;&nbsp;&nbsp; CoastalSouth Bancshares, Inc. | 2044 | &nbsp;&nbsp; 50180 |
| &nbsp;&nbsp;&nbsp; Colony Bankcorp, Inc. | 6454 | &nbsp;&nbsp; 127983 |
| &nbsp;&nbsp;&nbsp; Commercial Bancgroup, Inc.† | 2514 | &nbsp;&nbsp; 65389 |
| &nbsp;&nbsp;&nbsp; Community Financial System, Inc. | 21289 | &nbsp;&nbsp; 1289049 |
| &nbsp;&nbsp;&nbsp; Community Trust Bancorp, Inc. | 6303 | &nbsp;&nbsp; 378432 |
| &nbsp;&nbsp;&nbsp; Community West Bancshares | 6648 | &nbsp;&nbsp; 154433 |
| &nbsp;&nbsp;&nbsp; ConnectOne Bancorp, Inc. | 19688 | &nbsp;&nbsp; 522323 |
| &nbsp;&nbsp;&nbsp; Customers Bancorp, Inc.† | 12608 | &nbsp;&nbsp; 850284 |
| &nbsp;&nbsp;&nbsp; CVB Financial Corp. | 51509 | &nbsp;&nbsp; 990518 |
| &nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc. | 15707 | &nbsp;&nbsp; 508121 |
| &nbsp;&nbsp;&nbsp; Eagle Bancorp, Inc. | 11615 | &nbsp;&nbsp; 295602 |
| &nbsp;&nbsp;&nbsp; Eagle Financial Services, Inc. | 1868 | &nbsp;&nbsp; 64838 |
| &nbsp;&nbsp;&nbsp; Eastern Bankshares, Inc. | 89072 | &nbsp;&nbsp; 1742248 |
| &nbsp;&nbsp;&nbsp; ECB Bancorp, Inc.#† | 3129 | &nbsp;&nbsp; 53788 |
| &nbsp;&nbsp;&nbsp; Enterprise Financial Services Corp. | 14867 | &nbsp;&nbsp; 848906 |
| &nbsp;&nbsp;&nbsp; Equity Bancshares, Inc., Class A | 6446 | &nbsp;&nbsp; 289296 |
| &nbsp;&nbsp;&nbsp; Esquire Financial Holdings, Inc. | 2950 | &nbsp;&nbsp; 297891 |
| &nbsp;&nbsp;&nbsp; Farmers & Merchants Bancorp, Inc. | 5001 | &nbsp;&nbsp; 129326 |
| &nbsp;&nbsp;&nbsp; Farmers National Banc Corp. | 15830 | &nbsp;&nbsp; 204682 |
| &nbsp;&nbsp;&nbsp; FB Bancorp, Inc.† | 7252 | &nbsp;&nbsp; 95509 |
| &nbsp;&nbsp;&nbsp; FB Financial Corp. | 16761 | &nbsp;&nbsp; 916659 |
| &nbsp;&nbsp;&nbsp; Fidelity D&D Bancorp, Inc. | 1933 | &nbsp;&nbsp; 84762 |
| &nbsp;&nbsp;&nbsp; Financial Institutions, Inc. | 8275 | &nbsp;&nbsp; 259670 |
| &nbsp;&nbsp;&nbsp; Finwise Bancorp† | 3685 | &nbsp;&nbsp; 62055 |
| &nbsp;&nbsp;&nbsp; First Bancorp | 15905 | &nbsp;&nbsp; 903245 |
| &nbsp;&nbsp;&nbsp; First Bancorp, Inc. | 4861 | &nbsp;&nbsp; 134407 |
| &nbsp;&nbsp;&nbsp; First BanCorp. | 62902 | &nbsp;&nbsp; 1329119 |
| &nbsp;&nbsp;&nbsp; First Bank | 8288 | &nbsp;&nbsp; 131945 |
| &nbsp;&nbsp;&nbsp; First Busey Corp. | 34252 | &nbsp;&nbsp; 868631 |
| &nbsp;&nbsp;&nbsp; First Business Financial Services, Inc. | 3110 | &nbsp;&nbsp; 169962 |
| &nbsp;&nbsp;&nbsp; First Commonwealth Financial Corp. | 41129 | &nbsp;&nbsp; 720991 |
| &nbsp;&nbsp;&nbsp; First Community Bankshares, Inc. | 6392 | &nbsp;&nbsp; 250119 |
| &nbsp;&nbsp;&nbsp; First Community Corp. | 3008 | &nbsp;&nbsp; 86691 |
| &nbsp;&nbsp;&nbsp; First Financial Bancorp | 39683 | &nbsp;&nbsp; 1113902 |
| &nbsp;&nbsp;&nbsp; First Financial Bankshares, Inc. | 53789 | &nbsp;&nbsp; 1663694 |
| &nbsp;&nbsp;&nbsp; First Financial Corp. | 4686 | &nbsp;&nbsp; 296905 |
| &nbsp;&nbsp;&nbsp; First Foundation, Inc.† | 25563 | &nbsp;&nbsp; 150055 |
| &nbsp;&nbsp;&nbsp; First Internet Bancorp | 3068 | &nbsp;&nbsp; 62219 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; First Interstate BancSystem, Inc., Class A | 35969 | &nbsp;&nbsp; $1244887 |
| &nbsp;&nbsp;&nbsp; First Merchants Corp. | 25220 | &nbsp;&nbsp; 985598 |
| &nbsp;&nbsp;&nbsp; First Mid Bancshares, Inc. | 8733 | &nbsp;&nbsp; 358140 |
| &nbsp;&nbsp;&nbsp; First National Corp. | 3170 | &nbsp;&nbsp; 84164 |
| &nbsp;&nbsp;&nbsp; First United Corp. | 2448 | &nbsp;&nbsp; 86831 |
| &nbsp;&nbsp;&nbsp; Firstsun Capital Bancorp#† | 4855 | &nbsp;&nbsp; 177062 |
| &nbsp;&nbsp;&nbsp; Five Star Bancorp | 6051 | &nbsp;&nbsp; 235565 |
| &nbsp;&nbsp;&nbsp; Flagstar Financial, Inc. | 122170 | &nbsp;&nbsp; 1550337 |
| &nbsp;&nbsp;&nbsp; Franklin Financial Services Corp. | 1704 | &nbsp;&nbsp; 87722 |
| &nbsp;&nbsp;&nbsp; Fulton Financial Corp. | 72193 | &nbsp;&nbsp; 1476347 |
| &nbsp;&nbsp;&nbsp; FVCBankcorp, Inc. | 6225 | &nbsp;&nbsp; 96114 |
| &nbsp;&nbsp;&nbsp; GBank Financial Holdings, Inc.#† | 3422 | &nbsp;&nbsp; 103379 |
| &nbsp;&nbsp;&nbsp; German American Bancorp, Inc. | 14866 | &nbsp;&nbsp; 614560 |
| &nbsp;&nbsp;&nbsp; Glacier Bancorp, Inc. | 51619 | &nbsp;&nbsp; 2348148 |
| &nbsp;&nbsp;&nbsp; Great Southern Bancorp, Inc. | 3319 | &nbsp;&nbsp; 204218 |
| &nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 34113 | &nbsp;&nbsp; 2244977 |
| &nbsp;&nbsp;&nbsp; Hanmi Financial Corp. | 11559 | &nbsp;&nbsp; 301805 |
| &nbsp;&nbsp;&nbsp; Hanover Bancorp, Inc. | 1926 | &nbsp;&nbsp; 39830 |
| &nbsp;&nbsp;&nbsp; Hawthorn Bancshares, Inc. | 2364 | &nbsp;&nbsp; 77988 |
| &nbsp;&nbsp;&nbsp; HBT Financial, Inc. | 5105 | &nbsp;&nbsp; 137631 |
| &nbsp;&nbsp;&nbsp; Heritage Commerce Corp. | 25144 | &nbsp;&nbsp; 312540 |
| &nbsp;&nbsp;&nbsp; Heritage Financial Corp. | 13438 | &nbsp;&nbsp; 354898 |
| &nbsp;&nbsp;&nbsp; Hilltop Holdings, Inc. | 17802 | &nbsp;&nbsp; 666329 |
| &nbsp;&nbsp;&nbsp; Home BancShares, Inc. | 75755 | &nbsp;&nbsp; 2080232 |
| &nbsp;&nbsp;&nbsp; Hope Bancorp, Inc. | 48747 | &nbsp;&nbsp; 548891 |
| &nbsp;&nbsp;&nbsp; Horizon Bancorp, Inc. | 20198 | &nbsp;&nbsp; 340134 |
| &nbsp;&nbsp;&nbsp; Independent Bank Corp. | 20240 | &nbsp;&nbsp; 1580137 |
| &nbsp;&nbsp;&nbsp; Independent Bank Corp. | 7896 | &nbsp;&nbsp; 274386 |
| &nbsp;&nbsp;&nbsp; International Bancshares Corp. | 21928 | &nbsp;&nbsp; 1471588 |
| &nbsp;&nbsp;&nbsp; Investar Holding Corp. | 3396 | &nbsp;&nbsp; 95869 |
| &nbsp;&nbsp;&nbsp; John Marshall Bancorp, Inc. | 5094 | &nbsp;&nbsp; 97805 |
| &nbsp;&nbsp;&nbsp; Kearny Financial Corp. | 24675 | &nbsp;&nbsp; 188764 |
| &nbsp;&nbsp;&nbsp; Lakeland Financial Corp. | 9907 | &nbsp;&nbsp; 575498 |
| &nbsp;&nbsp;&nbsp; Landmark Bancorp, Inc. | 1938 | &nbsp;&nbsp; 53760 |
| &nbsp;&nbsp;&nbsp; LCNB Corp. | 5473 | &nbsp;&nbsp; 92986 |
| &nbsp;&nbsp;&nbsp; LINKBANCORP, Inc. | 8747 | &nbsp;&nbsp; 75662 |
| &nbsp;&nbsp;&nbsp; Live Oak Bancshares, Inc. | 14553 | &nbsp;&nbsp; 527837 |
| &nbsp;&nbsp;&nbsp; MainStreet Bancshares, Inc. | 2860 | &nbsp;&nbsp; 63492 |
| &nbsp;&nbsp;&nbsp; Mercantile Bank Corp. | 6484 | &nbsp;&nbsp; 334963 |
| &nbsp;&nbsp;&nbsp; Merchants Bancorp | 10590 | &nbsp;&nbsp; 447745 |
| &nbsp;&nbsp;&nbsp; Meridian Corp. | 3688 | &nbsp;&nbsp; 71695 |
| &nbsp;&nbsp;&nbsp; Metrocity Bankshares, Inc. | 7875 | &nbsp;&nbsp; 221288 |
| &nbsp;&nbsp;&nbsp; Metropolitan Bank Holding Corp. | 3793 | &nbsp;&nbsp; 319181 |
| &nbsp;&nbsp;&nbsp; Mid Penn Bancorp, Inc. | 7752 | &nbsp;&nbsp; 249382 |
| &nbsp;&nbsp;&nbsp; Middlefield Banc Corp. | 2951 | &nbsp;&nbsp; 99360 |
| &nbsp;&nbsp;&nbsp; Midland States Bancorp, Inc. | 7998 | &nbsp;&nbsp; 176996 |
| &nbsp;&nbsp;&nbsp; MVB Financial Corp. | 4242 | &nbsp;&nbsp; 114534 |
| &nbsp;&nbsp;&nbsp; National Bank Holdings Corp., Class A | 14375 | &nbsp;&nbsp; 574856 |
| &nbsp;&nbsp;&nbsp; National Bankshares, Inc. | 2532 | &nbsp;&nbsp; 95077 |
| &nbsp;&nbsp;&nbsp; NB Bancorp, Inc. | 16405 | &nbsp;&nbsp; 350083 |
| &nbsp;&nbsp;&nbsp; NBT Bancorp, Inc. | 20177 | &nbsp;&nbsp; 861961 |
| &nbsp;&nbsp;&nbsp; NewtekOne, Inc. | 9631 | &nbsp;&nbsp; 118269 |
| &nbsp;&nbsp;&nbsp; Nicolet Bankshares, Inc. | 7423 | &nbsp;&nbsp; 1133937 |
| &nbsp;&nbsp;&nbsp; Northeast Bank | 2932 | &nbsp;&nbsp; 325100 |
| &nbsp;&nbsp;&nbsp; Northeast Community Bancorp, Inc. | 4793 | &nbsp;&nbsp; 115991 |
| &nbsp;&nbsp;&nbsp; Northpointe Bancshares, Inc. | 8841 | &nbsp;&nbsp; 159668 |
| &nbsp;&nbsp;&nbsp; Northrim BanCorp, Inc. | 8967 | &nbsp;&nbsp; 210635 |
| &nbsp;&nbsp;&nbsp; Norwood Financial Corp. | 3984 | &nbsp;&nbsp; 115775 |
| &nbsp;&nbsp;&nbsp; Oak Valley Bancorp | 2780 | &nbsp;&nbsp; 88960 |
| &nbsp;&nbsp;&nbsp; OFG Bancorp | 17391 | &nbsp;&nbsp; 697031 |
| &nbsp;&nbsp;&nbsp; Ohio Valley Banc Corp. | 1545 | &nbsp;&nbsp; 65863 |
| &nbsp;&nbsp;&nbsp; Old National Bancorp | 140852 | &nbsp;&nbsp; 3253681 |
| &nbsp;&nbsp;&nbsp; Old Second Bancorp, Inc. | 20039 | &nbsp;&nbsp; 393366 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; OP Bancorp | 4790 | &nbsp;&nbsp; $63994 |
| &nbsp;&nbsp;&nbsp; Orange County Bancorp, Inc. | 4162 | &nbsp;&nbsp; 138220 |
| &nbsp;&nbsp;&nbsp; Origin Bancorp, Inc. | 12291 | &nbsp;&nbsp; 511306 |
| &nbsp;&nbsp;&nbsp; Orrstown Financial Services, Inc. | 7399 | &nbsp;&nbsp; 265920 |
| &nbsp;&nbsp;&nbsp; Park National Corp. | 5844 | &nbsp;&nbsp; 961513 |
| &nbsp;&nbsp;&nbsp; Parke Bancorp, Inc. | 4035 | &nbsp;&nbsp; 112415 |
| &nbsp;&nbsp;&nbsp; Pathward Financial, Inc. | 8456 | &nbsp;&nbsp; 767720 |
| &nbsp;&nbsp;&nbsp; Patriot National Bancorp, Inc.† | 29425 | &nbsp;&nbsp; 36781 |
| &nbsp;&nbsp;&nbsp; PCB Bancorp | 4141 | &nbsp;&nbsp; 92593 |
| &nbsp;&nbsp;&nbsp; Peapack-Gladstone Financial Corp. | 6165 | &nbsp;&nbsp; 206466 |
| &nbsp;&nbsp;&nbsp; Peoples Bancorp of North Carolina, Inc. | 1713 | &nbsp;&nbsp; 65454 |
| &nbsp;&nbsp;&nbsp; Peoples Bancorp, Inc. | 13818 | &nbsp;&nbsp; 445907 |
| &nbsp;&nbsp;&nbsp; Peoples Financial Services Corp. | 3908 | &nbsp;&nbsp; 209469 |
| &nbsp;&nbsp;&nbsp; Pioneer Bancorp, Inc.† | 4575 | &nbsp;&nbsp; 64553 |
| &nbsp;&nbsp;&nbsp; Plumas Bancorp | 2577 | &nbsp;&nbsp; 129623 |
| &nbsp;&nbsp;&nbsp; Ponce Financial Group, Inc.† | 7484 | &nbsp;&nbsp; 121615 |
| &nbsp;&nbsp;&nbsp; Primis Financial Corp. | 8462 | &nbsp;&nbsp; 111783 |
| &nbsp;&nbsp;&nbsp; Princeton Bancorp, Inc. | 2157 | &nbsp;&nbsp; 73273 |
| &nbsp;&nbsp;&nbsp; QCR Holdings, Inc. | 6787 | &nbsp;&nbsp; 587075 |
| &nbsp;&nbsp;&nbsp; RBB Bancorp | 6367 | &nbsp;&nbsp; 136891 |
| &nbsp;&nbsp;&nbsp; Red River Bancshares, Inc. | 2070 | &nbsp;&nbsp; 183609 |
| &nbsp;&nbsp;&nbsp; Renasant Corp. | 37915 | &nbsp;&nbsp; 1427500 |
| &nbsp;&nbsp;&nbsp; Republic Bancorp, Inc., Class A | 3519 | &nbsp;&nbsp; 242811 |
| &nbsp;&nbsp;&nbsp; Rhinebeck Bancorp, Inc.#† | 1836 | &nbsp;&nbsp; 29376 |
| &nbsp;&nbsp;&nbsp; Richmond Mutual BanCorp, Inc.# | 3703 | &nbsp;&nbsp; 49991 |
| &nbsp;&nbsp;&nbsp; S&T Bancorp, Inc. | 15071 | &nbsp;&nbsp; 630119 |
| &nbsp;&nbsp;&nbsp; SB Financial Group, Inc. | 2415 | &nbsp;&nbsp; 50135 |
| &nbsp;&nbsp;&nbsp; Seacoast Banking Corp. of Florida | 35135 | &nbsp;&nbsp; 1093401 |
| &nbsp;&nbsp;&nbsp; ServisFirst Bancshares, Inc. | 20747 | &nbsp;&nbsp; 1680714 |
| &nbsp;&nbsp;&nbsp; Shore Bancshares, Inc. | 12871 | &nbsp;&nbsp; 239143 |
| &nbsp;&nbsp;&nbsp; Sierra Bancorp | 4776 | &nbsp;&nbsp; 171840 |
| &nbsp;&nbsp;&nbsp; Simmons First National Corp., Class A | 56857 | &nbsp;&nbsp; 1132023 |
| &nbsp;&nbsp;&nbsp; SmartFinancial, Inc. | 6220 | &nbsp;&nbsp; 243886 |
| &nbsp;&nbsp;&nbsp; South Plains Financial, Inc. | 5012 | &nbsp;&nbsp; 205292 |
| &nbsp;&nbsp;&nbsp; Southern First Bancshares, Inc.† | 3008 | &nbsp;&nbsp; 167967 |
| &nbsp;&nbsp;&nbsp; Southside Bancshares, Inc. | 11392 | &nbsp;&nbsp; 356797 |
| &nbsp;&nbsp;&nbsp; SR Bancorp, Inc.# | 3200 | &nbsp;&nbsp; 52960 |
| &nbsp;&nbsp;&nbsp; Stellar Bancorp, Inc. | 19197 | &nbsp;&nbsp; 722959 |
| &nbsp;&nbsp;&nbsp; Stock Yards Bancorp, Inc. | 10730 | &nbsp;&nbsp; 688222 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc.† | 18296 | &nbsp;&nbsp; 1743609 |
| &nbsp;&nbsp;&nbsp; Third Coast Bancshares, Inc.† | 4951 | &nbsp;&nbsp; 196109 |
| &nbsp;&nbsp;&nbsp; Tompkins Financial Corp. | 5311 | &nbsp;&nbsp; 407407 |
| &nbsp;&nbsp;&nbsp; Towne Bank | 29632 | &nbsp;&nbsp; 1015192 |
| &nbsp;&nbsp;&nbsp; TriCo Bancshares | 12432 | &nbsp;&nbsp; 594001 |
| &nbsp;&nbsp;&nbsp; Triumph Financial, Inc.† | 8943 | &nbsp;&nbsp; 499556 |
| &nbsp;&nbsp;&nbsp; TrustCo Bank Corp. | 6753 | &nbsp;&nbsp; 292878 |
| &nbsp;&nbsp;&nbsp; Trustmark Corp. | 22134 | &nbsp;&nbsp; 942687 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | 29224 | &nbsp;&nbsp; 3386477 |
| &nbsp;&nbsp;&nbsp; Union Bankshares, Inc.# | 1480 | &nbsp;&nbsp; 34410 |
| &nbsp;&nbsp;&nbsp; United Bankshares, Inc. | 56240 | &nbsp;&nbsp; 2322712 |
| &nbsp;&nbsp;&nbsp; United Community Banks, Inc. | 44617 | &nbsp;&nbsp; 1435329 |
| &nbsp;&nbsp;&nbsp; United Security Bancshare/Ca | 5630 | &nbsp;&nbsp; 58496 |
| &nbsp;&nbsp;&nbsp; Unity Bancorp, Inc. | 2818 | &nbsp;&nbsp; 149889 |
| &nbsp;&nbsp;&nbsp; Univest Financial Corp. | 11195 | &nbsp;&nbsp; 375592 |
| &nbsp;&nbsp;&nbsp; Valley National Bancorp | 195051 | &nbsp;&nbsp; 2459593 |
| &nbsp;&nbsp;&nbsp; Virginia National Bankshares Corp. | 1936 | &nbsp;&nbsp; 74962 |
| &nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc. | 13376 | &nbsp;&nbsp; 615430 |
| &nbsp;&nbsp;&nbsp; Washington Trust Bancorp, Inc. | 7918 | &nbsp;&nbsp; 266757 |
| &nbsp;&nbsp;&nbsp; WesBanco, Inc. | 38070 | &nbsp;&nbsp; 1327501 |
| &nbsp;&nbsp;&nbsp; West BanCorp, Inc. | 6647 | &nbsp;&nbsp; 161854 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; Westamerica BanCorp | 9539 | &nbsp;&nbsp; $483150 |
| &nbsp;&nbsp;&nbsp; Western New England Bancorp, Inc. | 7358 | &nbsp;&nbsp; 94550 |
|  |  | &nbsp;&nbsp; 105706960 |
| **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |
| &nbsp;&nbsp;&nbsp; BRC, Inc., Class A#† | 50203 | &nbsp;&nbsp; 31603 |
| &nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. | 5391 | &nbsp;&nbsp; 102429 |
| &nbsp;&nbsp;&nbsp; National Beverage Corp.† | 9937 | &nbsp;&nbsp; 361210 |
| &nbsp;&nbsp;&nbsp; Vita Coco Co., Inc.† | 19260 | &nbsp;&nbsp; 1118236 |
| &nbsp;&nbsp;&nbsp; Westrock Coffee Co.† | 14656 | &nbsp;&nbsp; 64779 |
| &nbsp;&nbsp;&nbsp; Zevia PBC, Class A† | 21300 | &nbsp;&nbsp; 28542 |
|  |  | &nbsp;&nbsp; 1706799 |
| **Biotechnology — 8.2%** | **Biotechnology — 8.2%** | **Biotechnology — 8.2%** |
| &nbsp;&nbsp;&nbsp; 4D Molecular Therapeutics, Inc.† | 17299 | &nbsp;&nbsp; 167108 |
| &nbsp;&nbsp;&nbsp; Aardvark Therapeutics, Inc.#† | 4636 | &nbsp;&nbsp; 57904 |
| &nbsp;&nbsp;&nbsp; Abeona Therapeutics, Inc.#† | 16352 | &nbsp;&nbsp; 83722 |
| &nbsp;&nbsp;&nbsp; Absci Corp.#† | 57891 | &nbsp;&nbsp; 158621 |
| &nbsp;&nbsp;&nbsp; ACADIA Pharmaceuticals, Inc.† | 50045 | &nbsp;&nbsp; 1229105 |
| &nbsp;&nbsp;&nbsp; ADC Therapeutics SA† | 35248 | &nbsp;&nbsp; 144517 |
| &nbsp;&nbsp;&nbsp; ADMA Biologics, Inc.† | 93175 | &nbsp;&nbsp; 1450735 |
| &nbsp;&nbsp;&nbsp; Akero Therapeutics, Inc. CVR†(1) | 25930 | &nbsp;&nbsp; 16855 |
| &nbsp;&nbsp;&nbsp; Aldeyra Therapeutics, Inc.† | 21876 | &nbsp;&nbsp; 119443 |
| &nbsp;&nbsp;&nbsp; Alector, Inc.† | 39565 | &nbsp;&nbsp; 96143 |
| &nbsp;&nbsp;&nbsp; Allogene Therapeutics, Inc.† | 62314 | &nbsp;&nbsp; 173233 |
| &nbsp;&nbsp;&nbsp; Alpha Teknova, Inc.#† | 4411 | &nbsp;&nbsp; 11380 |
| &nbsp;&nbsp;&nbsp; Altimmune, Inc.† | 34369 | &nbsp;&nbsp; 148130 |
| &nbsp;&nbsp;&nbsp; Alumis Inc† | 23118 | &nbsp;&nbsp; 686373 |
| &nbsp;&nbsp;&nbsp; Amicus Therapeutics, Inc.† | 119732 | &nbsp;&nbsp; 1720549 |
| &nbsp;&nbsp;&nbsp; AnaptysBio, Inc.† | 7269 | &nbsp;&nbsp; 400158 |
| &nbsp;&nbsp;&nbsp; Anavex Life Sciences Corp.† | 32509 | &nbsp;&nbsp; 144015 |
| &nbsp;&nbsp;&nbsp; ANI Pharmaceuticals, Inc.† | 7481 | &nbsp;&nbsp; 552846 |
| &nbsp;&nbsp;&nbsp; Annexon, Inc.† | 41099 | &nbsp;&nbsp; 230154 |
| &nbsp;&nbsp;&nbsp; Apogee Therapeutics, Inc.† | 15531 | &nbsp;&nbsp; 1087170 |
| &nbsp;&nbsp;&nbsp; Arbutus Biopharma Corp.† | 58500 | &nbsp;&nbsp; 272610 |
| &nbsp;&nbsp;&nbsp; Arcellx, Inc.† | 13863 | &nbsp;&nbsp; 1577471 |
| &nbsp;&nbsp;&nbsp; Arcturus Therapeutics Holdings, Inc.#† | 9752 | &nbsp;&nbsp; 80259 |
| &nbsp;&nbsp;&nbsp; Arcus Biosciences, Inc.† | 32254 | &nbsp;&nbsp; 657014 |
| &nbsp;&nbsp;&nbsp; Arcutis Biotherapeutics, Inc.† | 44244 | &nbsp;&nbsp; 1193261 |
| &nbsp;&nbsp;&nbsp; Ardelyx, Inc.† | 98088 | &nbsp;&nbsp; 642476 |
| &nbsp;&nbsp;&nbsp; ArriVent Biopharma, Inc.† | 11833 | &nbsp;&nbsp; 271804 |
| &nbsp;&nbsp;&nbsp; Arrowhead Pharmaceuticals, Inc.† | 53334 | &nbsp;&nbsp; 3374442 |
| &nbsp;&nbsp;&nbsp; ARS Pharmaceuticals, Inc.#† | 22923 | &nbsp;&nbsp; 212725 |
| &nbsp;&nbsp;&nbsp; Atea Pharmaceuticals, Inc.† | 30676 | &nbsp;&nbsp; 143564 |
| &nbsp;&nbsp;&nbsp; Atlantic International Corp.† | 4579 | &nbsp;&nbsp; 14424 |
| &nbsp;&nbsp;&nbsp; Aura Biosciences, Inc.#† | 19781 | &nbsp;&nbsp; 116510 |
| &nbsp;&nbsp;&nbsp; Aurinia Pharmaceuticals, Inc.† | 48748 | &nbsp;&nbsp; 690759 |
| &nbsp;&nbsp;&nbsp; Axsome Therapeutics, Inc.† | 16490 | &nbsp;&nbsp; 2702546 |
| &nbsp;&nbsp;&nbsp; Beam Therapeutics, Inc.† | 38553 | &nbsp;&nbsp; 1097218 |
| &nbsp;&nbsp;&nbsp; Benitec Biopharma, Inc.† | 5844 | &nbsp;&nbsp; 63700 |
| &nbsp;&nbsp;&nbsp; Bicara Therapeutics, Inc.† | 12928 | &nbsp;&nbsp; 216932 |
| &nbsp;&nbsp;&nbsp; BioAge Labs, Inc.† | 9343 | &nbsp;&nbsp; 208069 |
| &nbsp;&nbsp;&nbsp; BioCryst Pharmaceuticals, Inc.† | 92438 | &nbsp;&nbsp; 808833 |
| &nbsp;&nbsp;&nbsp; Biohaven, Ltd.† | 37039 | &nbsp;&nbsp; 426689 |
| &nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc.† | 63785 | &nbsp;&nbsp; 4240427 |
| &nbsp;&nbsp;&nbsp; Bright Minds Biosciences, Inc.#† | 2128 | &nbsp;&nbsp; 178369 |
| &nbsp;&nbsp;&nbsp; Capricor Therapeutics, Inc.† | 15857 | &nbsp;&nbsp; 442886 |
| &nbsp;&nbsp;&nbsp; Cardiff Oncology, Inc.#† | 23843 | &nbsp;&nbsp; 46255 |
| &nbsp;&nbsp;&nbsp; Cartesian Therapeutics, Inc.#† | 3544 | &nbsp;&nbsp; 26899 |
| &nbsp;&nbsp;&nbsp; Cartesian Therapeutics, Inc. CVR#†(1) | 44751 | &nbsp;&nbsp; 11635 |
| &nbsp;&nbsp;&nbsp; Celcuity, Inc.† | 12930 | &nbsp;&nbsp; 1444410 |
| &nbsp;&nbsp;&nbsp; Celldex Therapeutics, Inc.† | 26856 | &nbsp;&nbsp; 808097 |
| &nbsp;&nbsp;&nbsp; CG oncology, Inc.† | 22457 | &nbsp;&nbsp; 1320472 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp; Chinook Therapeutics, Inc. CVR†(1) | 22455 | &nbsp;&nbsp; $3817 |
| &nbsp;&nbsp;&nbsp; Cogent Biosciences, Inc.† | 55867 | &nbsp;&nbsp; 2170433 |
| &nbsp;&nbsp;&nbsp; Compass Therapeutics, Inc.† | 51859 | &nbsp;&nbsp; 293003 |
| &nbsp;&nbsp;&nbsp; Crinetics Pharmaceuticals, Inc.#† | 39300 | &nbsp;&nbsp; 1615230 |
| &nbsp;&nbsp;&nbsp; CRISPR Therapeutics AG#† | 35033 | &nbsp;&nbsp; 2106885 |
| &nbsp;&nbsp;&nbsp; Cullinan Therapeutics, Inc.† | 21532 | &nbsp;&nbsp; 333746 |
| &nbsp;&nbsp;&nbsp; Cytek Biosciences, Inc.† | 50584 | &nbsp;&nbsp; 226616 |
| &nbsp;&nbsp;&nbsp; Cytokinetics, Inc.† | 46949 | &nbsp;&nbsp; 2921167 |
| &nbsp;&nbsp;&nbsp; Day One Biopharmaceuticals, Inc.† | 32342 | &nbsp;&nbsp; 342825 |
| &nbsp;&nbsp;&nbsp; Definium Therapeutics, Inc.† | 37474 | &nbsp;&nbsp; 653921 |
| &nbsp;&nbsp;&nbsp; Denali Therapeutics, Inc.† | 53395 | &nbsp;&nbsp; 1130906 |
| &nbsp;&nbsp;&nbsp; Design Therapeutics, Inc.† | 9057 | &nbsp;&nbsp; 94555 |
| &nbsp;&nbsp;&nbsp; DiaMedica Therapeutics, Inc.#† | 13330 | &nbsp;&nbsp; 105974 |
| &nbsp;&nbsp;&nbsp; Dianthus Therapeutics, Inc.† | 9638 | &nbsp;&nbsp; 531921 |
| &nbsp;&nbsp;&nbsp; Disc Medicine, Inc.† | 10220 | &nbsp;&nbsp; 680856 |
| &nbsp;&nbsp;&nbsp; Dyne Therapeutics, Inc.† | 50384 | &nbsp;&nbsp; 786998 |
| &nbsp;&nbsp;&nbsp; Edgewise Therapeutics, Inc.† | 27423 | &nbsp;&nbsp; 834756 |
| &nbsp;&nbsp;&nbsp; Editas Medicine, Inc.† | 34832 | &nbsp;&nbsp; 76630 |
| &nbsp;&nbsp;&nbsp; Eledon Pharmaceuticals, Inc.#† | 19778 | &nbsp;&nbsp; 51818 |
| &nbsp;&nbsp;&nbsp; Emergent BioSolutions, Inc.† | 20896 | &nbsp;&nbsp; 170302 |
| &nbsp;&nbsp;&nbsp; Entrada Therapeutics, Inc.† | 11742 | &nbsp;&nbsp; 140082 |
| &nbsp;&nbsp;&nbsp; Erasca, Inc.† | 69466 | &nbsp;&nbsp; 948906 |
| &nbsp;&nbsp;&nbsp; Esperion Therapeutics, Inc.#† | 95928 | &nbsp;&nbsp; 321359 |
| &nbsp;&nbsp;&nbsp; Evolus, Inc.† | 22671 | &nbsp;&nbsp; 97485 |
| &nbsp;&nbsp;&nbsp; EyePoint Pharmaceuticals, Inc.† | 30392 | &nbsp;&nbsp; 533684 |
| &nbsp;&nbsp;&nbsp; Fate Therapeutics, Inc.† | 38835 | &nbsp;&nbsp; 57476 |
| &nbsp;&nbsp;&nbsp; Forafric Global PLC#† | 2051 | &nbsp;&nbsp; 19813 |
| &nbsp;&nbsp;&nbsp; Geron Corp.† | 224012 | &nbsp;&nbsp; 376340 |
| &nbsp;&nbsp;&nbsp; Gossamer Bio, Inc.† | 73097 | &nbsp;&nbsp; 31059 |
| &nbsp;&nbsp;&nbsp; Greenwich Lifesciences, Inc.#† | 2343 | &nbsp;&nbsp; 64948 |
| &nbsp;&nbsp;&nbsp; GTX, Inc. CVR#†(1) | 368 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Humacyte, Inc.#† | 70822 | &nbsp;&nbsp; 78967 |
| &nbsp;&nbsp;&nbsp; Icosavax, Inc. CVR†(1) | 10570 | &nbsp;&nbsp; 3277 |
| &nbsp;&nbsp;&nbsp; Ideaya Biosciences, Inc.† | 32392 | &nbsp;&nbsp; 1043022 |
| &nbsp;&nbsp;&nbsp; ImmunityBio, Inc.#† | 119137 | &nbsp;&nbsp; 1165160 |
| &nbsp;&nbsp;&nbsp; Immunome, Inc.† | 38028 | &nbsp;&nbsp; 831292 |
| &nbsp;&nbsp;&nbsp; Immunovant, Inc.† | 28563 | &nbsp;&nbsp; 792052 |
| &nbsp;&nbsp;&nbsp; Inhibrx Biosciences, Inc.† | 3556 | &nbsp;&nbsp; 263606 |
| &nbsp;&nbsp;&nbsp; Inhibrx, Inc. CVR†(1) | 13726 | &nbsp;&nbsp; 22785 |
| &nbsp;&nbsp;&nbsp; Inmune Bio, Inc.#† | 7131 | &nbsp;&nbsp; 9199 |
| &nbsp;&nbsp;&nbsp; Innoviva, Inc.† | 24800 | &nbsp;&nbsp; 569408 |
| &nbsp;&nbsp;&nbsp; Intellia Therapeutics, Inc.#† | 40530 | &nbsp;&nbsp; 558503 |
| &nbsp;&nbsp;&nbsp; Iovance Biotherapeutics, Inc.† | 121547 | &nbsp;&nbsp; 469171 |
| &nbsp;&nbsp;&nbsp; Jade Biosciences, Inc. | 18412 | &nbsp;&nbsp; 273050 |
| &nbsp;&nbsp;&nbsp; Janux Therapeutics, Inc.† | 17954 | &nbsp;&nbsp; 244354 |
| &nbsp;&nbsp;&nbsp; Keros Therapeutics, Inc.† | 11947 | &nbsp;&nbsp; 169528 |
| &nbsp;&nbsp;&nbsp; Kodiak Sciences, Inc.† | 13221 | &nbsp;&nbsp; 354323 |
| &nbsp;&nbsp;&nbsp; Korro Bio, Inc.† | 2289 | &nbsp;&nbsp; 27766 |
| &nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.† | 9965 | &nbsp;&nbsp; 2746753 |
| &nbsp;&nbsp;&nbsp; Kura Oncology, Inc.† | 32301 | &nbsp;&nbsp; 281988 |
| &nbsp;&nbsp;&nbsp; Kymera Therapeutics, Inc.† | 22674 | &nbsp;&nbsp; 2071270 |
| &nbsp;&nbsp;&nbsp; Larimar Therapeutics, Inc.#† | 21587 | &nbsp;&nbsp; 114627 |
| &nbsp;&nbsp;&nbsp; LB Pharmaceuticals, Inc.† | 8153 | &nbsp;&nbsp; 195754 |
| &nbsp;&nbsp;&nbsp; LENZ Therapeutics, Inc.#† | 6136 | &nbsp;&nbsp; 82775 |
| &nbsp;&nbsp;&nbsp; Lexeo Therapeutics, Inc.† | 26410 | &nbsp;&nbsp; 189624 |
| &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc.† | 7793 | &nbsp;&nbsp; 1545430 |
| &nbsp;&nbsp;&nbsp; Liquidia Corp.† | 26006 | &nbsp;&nbsp; 806706 |
| &nbsp;&nbsp;&nbsp; MapLight Therapeutics, Inc.† | 7465 | &nbsp;&nbsp; 128921 |
| &nbsp;&nbsp;&nbsp; Maravai LifeSciences Holdings, Inc., Class A† | 44799 | &nbsp;&nbsp; 159484 |
| &nbsp;&nbsp;&nbsp; Maze Therapeutics, Inc.#† | 8617 | &nbsp;&nbsp; 392849 |
| &nbsp;&nbsp;&nbsp; MBX Biosciences, Inc.† | 11217 | &nbsp;&nbsp; 365113 |
| &nbsp;&nbsp;&nbsp; MeiraGTx Holdings PLC#† | 18393 | &nbsp;&nbsp; 139051 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp; Mineralys Therapeutics, Inc.† | 18434 | &nbsp;&nbsp; $539379 |
| &nbsp;&nbsp;&nbsp; Monopar Therapeutics, Inc.#† | 2028 | &nbsp;&nbsp; 111145 |
| &nbsp;&nbsp;&nbsp; Monte Rosa Therapeutics, Inc.† | 18370 | &nbsp;&nbsp; 326068 |
| &nbsp;&nbsp;&nbsp; Myriad Genetics, Inc.† | 36662 | &nbsp;&nbsp; 169012 |
| &nbsp;&nbsp;&nbsp; NeoGenomics, Inc.† | 50815 | &nbsp;&nbsp; 499511 |
| &nbsp;&nbsp;&nbsp; Niagen Bioscience, Inc.#† | 20341 | &nbsp;&nbsp; 102722 |
| &nbsp;&nbsp;&nbsp; Nkarta, Inc.† | 22621 | &nbsp;&nbsp; 61077 |
| &nbsp;&nbsp;&nbsp; Novavax, Inc.#† | 61676 | &nbsp;&nbsp; 625395 |
| &nbsp;&nbsp;&nbsp; Nurix Therapeutics, Inc.† | 41055 | &nbsp;&nbsp; 655648 |
| &nbsp;&nbsp;&nbsp; Nuvalent, Inc., Class A† | 20119 | &nbsp;&nbsp; 2051132 |
| &nbsp;&nbsp;&nbsp; Nuvation Bio, Inc.#† | 95008 | &nbsp;&nbsp; 561497 |
| &nbsp;&nbsp;&nbsp; Olema Pharmaceuticals, Inc.† | 24502 | &nbsp;&nbsp; 592948 |
| &nbsp;&nbsp;&nbsp; Omeros Corp.#† | 26718 | &nbsp;&nbsp; 321952 |
| &nbsp;&nbsp;&nbsp; Organogenesis Holdings, Inc.† | 25562 | &nbsp;&nbsp; 82054 |
| &nbsp;&nbsp;&nbsp; Oruka Therapeutics, Inc.#† | 15468 | &nbsp;&nbsp; 532254 |
| &nbsp;&nbsp;&nbsp; Palvella Therapeutics, Inc.† | 2794 | &nbsp;&nbsp; 377246 |
| &nbsp;&nbsp;&nbsp; Perspective Therapeutics, Inc.† | 23008 | &nbsp;&nbsp; 124243 |
| &nbsp;&nbsp;&nbsp; Phathom Pharmaceuticals, Inc.#† | 16761 | &nbsp;&nbsp; 210518 |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines, Inc.† | 9880 | &nbsp;&nbsp; 3327090 |
| &nbsp;&nbsp;&nbsp; Precigen, Inc.#† | 71225 | &nbsp;&nbsp; 269943 |
| &nbsp;&nbsp;&nbsp; Prime Medicine, Inc.† | 42435 | &nbsp;&nbsp; 196050 |
| &nbsp;&nbsp;&nbsp; Protalix BioTherapeutics, Inc.† | 29103 | &nbsp;&nbsp; 83817 |
| &nbsp;&nbsp;&nbsp; Protara Therapeutic, Inc.† | 13373 | &nbsp;&nbsp; 85052 |
| &nbsp;&nbsp;&nbsp; Prothena Corp. PLC† | 17440 | &nbsp;&nbsp; 151205 |
| &nbsp;&nbsp;&nbsp; PTC Therapeutics, Inc.† | 31291 | &nbsp;&nbsp; 2133733 |
| &nbsp;&nbsp;&nbsp; Puma Biotechnology, Inc.† | 16121 | &nbsp;&nbsp; 91890 |
| &nbsp;&nbsp;&nbsp; Rain Oncology, Inc. CVR#†(1) | 6782 | &nbsp;&nbsp; 339 |
| &nbsp;&nbsp;&nbsp; Rapport Therapeutics, Inc.† | 11305 | &nbsp;&nbsp; 328184 |
| &nbsp;&nbsp;&nbsp; Recursion Pharmaceuticals, Inc., Class A#† | 156546 | &nbsp;&nbsp; 574524 |
| &nbsp;&nbsp;&nbsp; REGENXBIO, Inc.† | 17900 | &nbsp;&nbsp; 161816 |
| &nbsp;&nbsp;&nbsp; Relay Therapeutics, Inc.† | 55464 | &nbsp;&nbsp; 569061 |
| &nbsp;&nbsp;&nbsp; Replimune Group, Inc.† | 29309 | &nbsp;&nbsp; 224214 |
| &nbsp;&nbsp;&nbsp; Rezolute, Inc.† | 35898 | &nbsp;&nbsp; 115233 |
| &nbsp;&nbsp;&nbsp; Rigel Pharmaceuticals, Inc.† | 6918 | &nbsp;&nbsp; 240331 |
| &nbsp;&nbsp;&nbsp; Rocket Pharmaceuticals, Inc.† | 32948 | &nbsp;&nbsp; 165069 |
| &nbsp;&nbsp;&nbsp; Sana Biotechnology, Inc.† | 65381 | &nbsp;&nbsp; 275254 |
| &nbsp;&nbsp;&nbsp; Savara, Inc.† | 55775 | &nbsp;&nbsp; 335766 |
| &nbsp;&nbsp;&nbsp; Scholar Rock Holding Corp.† | 33063 | &nbsp;&nbsp; 1463699 |
| &nbsp;&nbsp;&nbsp; Septerna, Inc.† | 9050 | &nbsp;&nbsp; 262631 |
| &nbsp;&nbsp;&nbsp; Sionna Therapeutics, Inc.#† | 6453 | &nbsp;&nbsp; 235793 |
| &nbsp;&nbsp;&nbsp; Soleno Therapeutics, Inc.† | 19024 | &nbsp;&nbsp; 743268 |
| &nbsp;&nbsp;&nbsp; Solid Biosciences, Inc.† | 22074 | &nbsp;&nbsp; 137080 |
| &nbsp;&nbsp;&nbsp; Stoke Therapeutics, Inc.† | 18395 | &nbsp;&nbsp; 669762 |
| &nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc.† | 34771 | &nbsp;&nbsp; 754878 |
| &nbsp;&nbsp;&nbsp; Tango Therapeutics, Inc.#† | 41888 | &nbsp;&nbsp; 466632 |
| &nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals, Inc.† | 15808 | &nbsp;&nbsp; 1193820 |
| &nbsp;&nbsp;&nbsp; Taysha Gene Therapies, Inc.† | 89668 | &nbsp;&nbsp; 406196 |
| &nbsp;&nbsp;&nbsp; Tectonic Therapeutic, Inc.#† | 4416 | &nbsp;&nbsp; 103555 |
| &nbsp;&nbsp;&nbsp; Terns Pharmaceuticals, Inc.† | 34466 | &nbsp;&nbsp; 1451708 |
| &nbsp;&nbsp;&nbsp; Tevogen Bio Holdings, Inc.† | 11524 | &nbsp;&nbsp; 3045 |
| &nbsp;&nbsp;&nbsp; TG Therapeutics, Inc.† | 58372 | &nbsp;&nbsp; 1756413 |
| &nbsp;&nbsp;&nbsp; Theravance Biopharma, Inc.† | 14990 | &nbsp;&nbsp; 273568 |
| &nbsp;&nbsp;&nbsp; Travere Therapeutics, Inc.† | 33346 | &nbsp;&nbsp; 993377 |
| &nbsp;&nbsp;&nbsp; TriSalus Life Sciences, Inc.#† | 11389 | &nbsp;&nbsp; 57628 |
| &nbsp;&nbsp;&nbsp; Tvardi Therapeutics, Inc.† | 1388 | &nbsp;&nbsp; 5538 |
| &nbsp;&nbsp;&nbsp; Tyra Biosciences, Inc.† | 10279 | &nbsp;&nbsp; 342393 |
| &nbsp;&nbsp;&nbsp; Upstream Bio, Inc.† | 13073 | &nbsp;&nbsp; 100401 |
| &nbsp;&nbsp;&nbsp; UroGen Pharma, Ltd.† | 14643 | &nbsp;&nbsp; 317753 |
| &nbsp;&nbsp;&nbsp; Vera Therapeutics, Inc.† | 22485 | &nbsp;&nbsp; 917163 |
| &nbsp;&nbsp;&nbsp; Veracyte, Inc.† | 31561 | &nbsp;&nbsp; 1154817 |
| &nbsp;&nbsp;&nbsp; Verastem, Inc.† | 19778 | &nbsp;&nbsp; 113130 |
| &nbsp;&nbsp;&nbsp; Vericel Corp.† | 20502 | &nbsp;&nbsp; 731511 |
| &nbsp;&nbsp;&nbsp; Vir Biotechnology, Inc.† | 35249 | &nbsp;&nbsp; 320413 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp; Viridian Therapeutics, Inc.† | 32357 | &nbsp;&nbsp; $950649 |
| &nbsp;&nbsp;&nbsp; Wave Life Sciences, Ltd.† | 45596 | &nbsp;&nbsp; 635152 |
| &nbsp;&nbsp;&nbsp; Xencor, Inc.† | 28287 | &nbsp;&nbsp; 361225 |
| &nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals, Inc.† | 30539 | &nbsp;&nbsp; 1320201 |
| &nbsp;&nbsp;&nbsp; XOMA Royalty Corp.#† | 3556 | &nbsp;&nbsp; 90785 |
| &nbsp;&nbsp;&nbsp; Zenas Biopharma, Inc.#† | 8139 | &nbsp;&nbsp; 214463 |
| &nbsp;&nbsp;&nbsp; Zevra Therapeutics, Inc. † | 23008 | &nbsp;&nbsp; 205461 |
| &nbsp;&nbsp;&nbsp; Zymeworks, Inc.† | 19699 | &nbsp;&nbsp; 458790 |
|  |  | &nbsp;&nbsp; 102273506 |
| **Building Materials — 1.6%** | **Building Materials — 1.6%** | **Building Materials — 1.6%** |
| &nbsp;&nbsp;&nbsp; NWPX Infrastructure, Inc. † | 3849 | &nbsp;&nbsp; 298682 |
| &nbsp;&nbsp;&nbsp; AirJoule Technologies Corp.† | 8737 | &nbsp;&nbsp; 28221 |
| &nbsp;&nbsp;&nbsp; American Woodmark Corp.† | 5808 | &nbsp;&nbsp; 290981 |
| &nbsp;&nbsp;&nbsp; Apogee Enterprises, Inc. | 8505 | &nbsp;&nbsp; 338669 |
| &nbsp;&nbsp;&nbsp; Aspen Aerogels, Inc.† | 25594 | &nbsp;&nbsp; 79853 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | 15171 | &nbsp;&nbsp; 1255249 |
| &nbsp;&nbsp;&nbsp; Gibraltar Industries, Inc.† | 11831 | &nbsp;&nbsp; 538074 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. | 15429 | &nbsp;&nbsp; 1315168 |
| &nbsp;&nbsp;&nbsp; JELD-WEN Holding, Inc.† | 33614 | &nbsp;&nbsp; 65883 |
| &nbsp;&nbsp;&nbsp; Knife River Corp.† | 22891 | &nbsp;&nbsp; 2036841 |
| &nbsp;&nbsp;&nbsp; LSI Industries, Inc. | 11458 | &nbsp;&nbsp; 247722 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc.† | 50054 | &nbsp;&nbsp; 506546 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co.† | 21075 | &nbsp;&nbsp; 4789294 |
| &nbsp;&nbsp;&nbsp; Smith-Midland Corp.#† | 1108 | &nbsp;&nbsp; 42558 |
| &nbsp;&nbsp;&nbsp; SPX Technologies, Inc.† | 19392 | &nbsp;&nbsp; 4400821 |
| &nbsp;&nbsp;&nbsp; Tecnoglass, Inc.# | 11167 | &nbsp;&nbsp; 508769 |
| &nbsp;&nbsp;&nbsp; Titan America SA | 10543 | &nbsp;&nbsp; 191039 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 23386 | &nbsp;&nbsp; 2406653 |
|  |  | &nbsp;&nbsp; 19341023 |
| **Chemicals — 1.5%** | **Chemicals — 1.5%** | **Chemicals — 1.5%** |
| &nbsp;&nbsp;&nbsp; AdvanSix, Inc. | 10384 | &nbsp;&nbsp; 185147 |
| &nbsp;&nbsp;&nbsp; American Vanguard Corp.† | 10596 | &nbsp;&nbsp; 48848 |
| &nbsp;&nbsp;&nbsp; Balchem Corp. | 13226 | &nbsp;&nbsp; 2399593 |
| &nbsp;&nbsp;&nbsp; Cabot Corp. | 21312 | &nbsp;&nbsp; 1622696 |
| &nbsp;&nbsp;&nbsp; Calumet, Inc.#† | 28016 | &nbsp;&nbsp; 755311 |
| &nbsp;&nbsp;&nbsp; Chemours Co. | 60575 | &nbsp;&nbsp; 1104888 |
| &nbsp;&nbsp;&nbsp; Codexis, Inc.#† | 32365 | &nbsp;&nbsp; 32689 |
| &nbsp;&nbsp;&nbsp; Ecovyst, Inc.† | 47125 | &nbsp;&nbsp; 531099 |
| &nbsp;&nbsp;&nbsp; H.B. Fuller Co. | 21992 | &nbsp;&nbsp; 1445314 |
| &nbsp;&nbsp;&nbsp; Hawkins, Inc. | 7865 | &nbsp;&nbsp; 1172671 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp.† | 14713 | &nbsp;&nbsp; 1059777 |
| &nbsp;&nbsp;&nbsp; Innospec, Inc. | 10087 | &nbsp;&nbsp; 772462 |
| &nbsp;&nbsp;&nbsp; Intrepid Potash, Inc.#† | 4077 | &nbsp;&nbsp; 150727 |
| &nbsp;&nbsp;&nbsp; Koppers Holdings, Inc. | 7599 | &nbsp;&nbsp; 287242 |
| &nbsp;&nbsp;&nbsp; Kronos Worldwide, Inc. | 8875 | &nbsp;&nbsp; 51564 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. | 22552 | &nbsp;&nbsp; 244464 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. | 12790 | &nbsp;&nbsp; 903230 |
| &nbsp;&nbsp;&nbsp; Oil-Dri Corp. of America | 4166 | &nbsp;&nbsp; 282621 |
| &nbsp;&nbsp;&nbsp; Orion SA | 21603 | &nbsp;&nbsp; 122921 |
| &nbsp;&nbsp;&nbsp; Perimeter Solutions, Inc.† | 55958 | &nbsp;&nbsp; 1313894 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 5566 | &nbsp;&nbsp; 818369 |
| &nbsp;&nbsp;&nbsp; Rayonier Advanced Materials, Inc.† | 27006 | &nbsp;&nbsp; 255747 |
| &nbsp;&nbsp;&nbsp; Rogers Corp.† | 7336 | &nbsp;&nbsp; 791041 |
| &nbsp;&nbsp;&nbsp; Sensient Technologies Corp. | 16916 | &nbsp;&nbsp; 1717481 |
| &nbsp;&nbsp;&nbsp; Stepan Co. | 8749 | &nbsp;&nbsp; 445237 |
| &nbsp;&nbsp;&nbsp; Trinseo PLC# | 13843 | &nbsp;&nbsp; 3184 |
| &nbsp;&nbsp;&nbsp; Tronox Holdings PLC# | 46746 | &nbsp;&nbsp; 349660 |
| &nbsp;&nbsp;&nbsp; Valhi, Inc. | 987 | &nbsp;&nbsp; 13788 |
|  |  | &nbsp;&nbsp; 18881665 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Coal — 0.5%** | **Coal — 0.5%** | **Coal — 0.5%** |
| &nbsp;&nbsp;&nbsp; Alpha Metallurgical Resources, Inc.† | 4753 | &nbsp;&nbsp; $773075 |
| &nbsp;&nbsp;&nbsp; Core Natural Resources, Inc. | 20488 | &nbsp;&nbsp; 1681655 |
| &nbsp;&nbsp;&nbsp; Hallador Energy Co.† | 11941 | &nbsp;&nbsp; 217087 |
| &nbsp;&nbsp;&nbsp; NACCO Industries, Inc., Class A | 1620 | &nbsp;&nbsp; 92956 |
| &nbsp;&nbsp;&nbsp; Peabody Energy Corp. | 49200 | &nbsp;&nbsp; 1551768 |
| &nbsp;&nbsp;&nbsp; Ramaco Resources, Inc., Class A† | 16330 | &nbsp;&nbsp; 247236 |
| &nbsp;&nbsp;&nbsp; SunCoke Energy, Inc. | 33465 | &nbsp;&nbsp; 190751 |
| &nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. | 20958 | &nbsp;&nbsp; 1744544 |
|  |  | &nbsp;&nbsp; 6499072 |
| **Commercial Services — 3.5%** | **Commercial Services — 3.5%** | **Commercial Services — 3.5%** |
| &nbsp;&nbsp;&nbsp; Chaince Digital Holdings, Inc.#† | 11557 | &nbsp;&nbsp; 67840 |
| &nbsp;&nbsp;&nbsp; Covista, Inc.† | 14628 | &nbsp;&nbsp; 1433544 |
| &nbsp;&nbsp;&nbsp; GPGI, Inc. | 23009 | &nbsp;&nbsp; 516552 |
| &nbsp;&nbsp;&nbsp; ABM Industries, Inc. | 24554 | &nbsp;&nbsp; 1092653 |
| &nbsp;&nbsp;&nbsp; Acacia Research Corp.#† | 13907 | &nbsp;&nbsp; 58270 |
| &nbsp;&nbsp;&nbsp; AirSculpt Technologies, Inc.#† | 5193 | &nbsp;&nbsp; 8205 |
| &nbsp;&nbsp;&nbsp; Alarm.com Holdings, Inc.† | 18763 | &nbsp;&nbsp; 897810 |
| &nbsp;&nbsp;&nbsp; Alight, Inc., Class A | 165740 | &nbsp;&nbsp; 145801 |
| &nbsp;&nbsp;&nbsp; Alta Equipment Group, Inc. | 8264 | &nbsp;&nbsp; 57022 |
| &nbsp;&nbsp;&nbsp; American Public Education, Inc.† | 6870 | &nbsp;&nbsp; 314783 |
| &nbsp;&nbsp;&nbsp; AMN Healthcare Services, Inc.† | 15096 | &nbsp;&nbsp; 294070 |
| &nbsp;&nbsp;&nbsp; Arlo Technologies, Inc.† | 39249 | &nbsp;&nbsp; 615817 |
| &nbsp;&nbsp;&nbsp; Barrett Business Services, Inc. | 9812 | &nbsp;&nbsp; 272479 |
| &nbsp;&nbsp;&nbsp; BrightView Holdings, Inc.† | 28754 | &nbsp;&nbsp; 396518 |
| &nbsp;&nbsp;&nbsp; Brink's Co. | 16929 | &nbsp;&nbsp; 1976799 |
| &nbsp;&nbsp;&nbsp; Cadiz, Inc.† | 22410 | &nbsp;&nbsp; 116532 |
| &nbsp;&nbsp;&nbsp; Carriage Services, Inc. | 5517 | &nbsp;&nbsp; 254168 |
| &nbsp;&nbsp;&nbsp; Cass Information Systems, Inc. | 4557 | &nbsp;&nbsp; 202240 |
| &nbsp;&nbsp;&nbsp; CBIZ, Inc.† | 19464 | &nbsp;&nbsp; 557449 |
| &nbsp;&nbsp;&nbsp; Cimpress PLC† | 6948 | &nbsp;&nbsp; 507551 |
| &nbsp;&nbsp;&nbsp; CoreCivic, Inc.† | 42966 | &nbsp;&nbsp; 759639 |
| &nbsp;&nbsp;&nbsp; Coursera, Inc.#† | 58799 | &nbsp;&nbsp; 376902 |
| &nbsp;&nbsp;&nbsp; CPI Card Group, Inc.† | 2403 | &nbsp;&nbsp; 29473 |
| &nbsp;&nbsp;&nbsp; CRA International, Inc. | 2553 | &nbsp;&nbsp; 440801 |
| &nbsp;&nbsp;&nbsp; Cross Country Healthcare, Inc.#† | 11959 | &nbsp;&nbsp; 104043 |
| &nbsp;&nbsp;&nbsp; Custom Truck One Source, Inc.† | 22836 | &nbsp;&nbsp; 163506 |
| &nbsp;&nbsp;&nbsp; Deluxe Corp. | 17429 | &nbsp;&nbsp; 483655 |
| &nbsp;&nbsp;&nbsp; Distribution Solutions Group, Inc.† | 3986 | &nbsp;&nbsp; 119181 |
| &nbsp;&nbsp;&nbsp; Driven Brands Holdings, Inc.#† | 23796 | &nbsp;&nbsp; 261756 |
| &nbsp;&nbsp;&nbsp; Emerald Holding, Inc.# | 5660 | &nbsp;&nbsp; 23602 |
| &nbsp;&nbsp;&nbsp; Ennis, Inc. | 9987 | &nbsp;&nbsp; 210826 |
| &nbsp;&nbsp;&nbsp; European Wax Center, Inc., Class A† | 11876 | &nbsp;&nbsp; 67931 |
| &nbsp;&nbsp;&nbsp; EVERTEC, Inc. | 26272 | &nbsp;&nbsp; 743760 |
| &nbsp;&nbsp;&nbsp; First Advantage Corp.† | 31202 | &nbsp;&nbsp; 359135 |
| &nbsp;&nbsp;&nbsp; Flywire Corp.† | 48420 | &nbsp;&nbsp; 596050 |
| &nbsp;&nbsp;&nbsp; Forrester Research, Inc.† | 4011 | &nbsp;&nbsp; 23986 |
| &nbsp;&nbsp;&nbsp; Franklin Covey Co.† | 4327 | &nbsp;&nbsp; 56338 |
| &nbsp;&nbsp;&nbsp; FTAI Infrastructure, Inc.# | 42805 | &nbsp;&nbsp; 248483 |
| &nbsp;&nbsp;&nbsp; GEO Group, Inc.† | 54944 | &nbsp;&nbsp; 826358 |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co., Class B | 1291 | &nbsp;&nbsp; 1359694 |
| &nbsp;&nbsp;&nbsp; Green Dot Corp., Class A† | 21246 | &nbsp;&nbsp; 245604 |
| &nbsp;&nbsp;&nbsp; Hackett Group, Inc. | 10538 | &nbsp;&nbsp; 143949 |
| &nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc.† | 28105 | &nbsp;&nbsp; 611846 |
| &nbsp;&nbsp;&nbsp; Herc Holdings, Inc. | 13140 | &nbsp;&nbsp; 1836841 |
| &nbsp;&nbsp;&nbsp; Hertz Global Holdings, Inc.#† | 46529 | &nbsp;&nbsp; 211242 |
| &nbsp;&nbsp;&nbsp; HireQuest, Inc. | 2251 | &nbsp;&nbsp; 26247 |
| &nbsp;&nbsp;&nbsp; Huron Consulting Group, Inc.† | 6907 | &nbsp;&nbsp; 976650 |
| &nbsp;&nbsp;&nbsp; ICF International, Inc. | 7236 | &nbsp;&nbsp; 601529 |
| &nbsp;&nbsp;&nbsp; Information Services Group, Inc. | 12992 | &nbsp;&nbsp; 62491 |
| &nbsp;&nbsp;&nbsp; Insperity, Inc. | 14214 | &nbsp;&nbsp; 315693 |
| &nbsp;&nbsp;&nbsp; John Wiley & Sons, Inc., Class A# | 16304 | &nbsp;&nbsp; 505750 |
| &nbsp;&nbsp;&nbsp; Kelly Services, Inc., Class A | 11534 | &nbsp;&nbsp; 111995 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Kforce, Inc. | 7435 | &nbsp;&nbsp; $200894 |
| &nbsp;&nbsp;&nbsp; KinderCare Learning Cos., Inc.† | 12823 | &nbsp;&nbsp; 44880 |
| &nbsp;&nbsp;&nbsp; Korn Ferry | 21084 | &nbsp;&nbsp; 1321334 |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc.† | 51129 | &nbsp;&nbsp; 1653512 |
| &nbsp;&nbsp;&nbsp; Legalzoom.com, Inc.† | 50661 | &nbsp;&nbsp; 356147 |
| &nbsp;&nbsp;&nbsp; Legence Corp., Class A† | 15126 | &nbsp;&nbsp; 878064 |
| &nbsp;&nbsp;&nbsp; Lifecore Biomedical, Inc.#† | 11221 | &nbsp;&nbsp; 80791 |
| &nbsp;&nbsp;&nbsp; Lincoln Educational Services Corp.† | 11995 | &nbsp;&nbsp; 434699 |
| &nbsp;&nbsp;&nbsp; MarketWise, Inc.# | 886 | &nbsp;&nbsp; 12422 |
| &nbsp;&nbsp;&nbsp; Marqeta, Inc., Class A† | 149924 | &nbsp;&nbsp; 575708 |
| &nbsp;&nbsp;&nbsp; Matthews International Corp., Class A | 11756 | &nbsp;&nbsp; 310711 |
| &nbsp;&nbsp;&nbsp; Medifast, Inc.#† | 3803 | &nbsp;&nbsp; 40046 |
| &nbsp;&nbsp;&nbsp; Mister Car Wash, Inc.† | 38746 | &nbsp;&nbsp; 275871 |
| &nbsp;&nbsp;&nbsp; Monro, Inc. | 11467 | &nbsp;&nbsp; 246884 |
| &nbsp;&nbsp;&nbsp; National Research Corp. | 4995 | &nbsp;&nbsp; 66983 |
| &nbsp;&nbsp;&nbsp; NPK International, Inc.† | 32330 | &nbsp;&nbsp; 466522 |
| &nbsp;&nbsp;&nbsp; Payoneer Global, Inc.† | 101361 | &nbsp;&nbsp; 437879 |
| &nbsp;&nbsp;&nbsp; Paysafe, Ltd.#† | 12464 | &nbsp;&nbsp; 78025 |
| &nbsp;&nbsp;&nbsp; Perdoceo Education Corp. | 23752 | &nbsp;&nbsp; 792129 |
| &nbsp;&nbsp;&nbsp; Priority Technology Holdings, Inc.#† | 10151 | &nbsp;&nbsp; 56338 |
| &nbsp;&nbsp;&nbsp; PROG Holdings, Inc. | 15766 | &nbsp;&nbsp; 555121 |
| &nbsp;&nbsp;&nbsp; Progyny, Inc.† | 30787 | &nbsp;&nbsp; 544622 |
| &nbsp;&nbsp;&nbsp; Quad/Graphics, Inc. | 11294 | &nbsp;&nbsp; 78042 |
| &nbsp;&nbsp;&nbsp; RCM Technologies, Inc.† | 1997 | &nbsp;&nbsp; 37763 |
| &nbsp;&nbsp;&nbsp; Remitly Global, Inc.† | 68010 | &nbsp;&nbsp; 1135767 |
| &nbsp;&nbsp;&nbsp; Repay Holdings Corp.† | 30994 | &nbsp;&nbsp; 86163 |
| &nbsp;&nbsp;&nbsp; Resources Connection, Inc. | 11991 | &nbsp;&nbsp; 45086 |
| &nbsp;&nbsp;&nbsp; Sezzle, Inc.#† | 6463 | &nbsp;&nbsp; 471476 |
| &nbsp;&nbsp;&nbsp; SoundThinking, Inc.† | 3884 | &nbsp;&nbsp; 28353 |
| &nbsp;&nbsp;&nbsp; Spire Global, Inc.† | 11159 | &nbsp;&nbsp; 98757 |
| &nbsp;&nbsp;&nbsp; StoneCo., Ltd., Class A† | 100443 | &nbsp;&nbsp; 1687442 |
| &nbsp;&nbsp;&nbsp; Strategic Education, Inc. | 9529 | &nbsp;&nbsp; 784046 |
| &nbsp;&nbsp;&nbsp; Stride, Inc.† | 17179 | &nbsp;&nbsp; 1449564 |
| &nbsp;&nbsp;&nbsp; Target Hospitality Corp.† | 12571 | &nbsp;&nbsp; 97928 |
| &nbsp;&nbsp;&nbsp; TIC Solutions, Inc.#† | 81230 | &nbsp;&nbsp; 769248 |
| &nbsp;&nbsp;&nbsp; Transcat, Inc.#† | 3627 | &nbsp;&nbsp; 282797 |
| &nbsp;&nbsp;&nbsp; TriNet Group, Inc. | 12375 | &nbsp;&nbsp; 471240 |
| &nbsp;&nbsp;&nbsp; TrueBlue, Inc.† | 10809 | &nbsp;&nbsp; 45722 |
| &nbsp;&nbsp;&nbsp; Udemy, Inc.† | 39004 | &nbsp;&nbsp; 196190 |
| &nbsp;&nbsp;&nbsp; Universal Technical Institute, Inc.† | 18386 | &nbsp;&nbsp; 665573 |
| &nbsp;&nbsp;&nbsp; Upbound Group, Inc. | 21257 | &nbsp;&nbsp; 455963 |
| &nbsp;&nbsp;&nbsp; USCB Financial Holdings, Inc. | 5132 | &nbsp;&nbsp; 97149 |
| &nbsp;&nbsp;&nbsp; Verra Mobility Corp.† | 64293 | &nbsp;&nbsp; 1074336 |
| &nbsp;&nbsp;&nbsp; Vestis Corp.# | 45636 | &nbsp;&nbsp; 359155 |
| &nbsp;&nbsp;&nbsp; Willdan Group, Inc.† | 5749 | &nbsp;&nbsp; 512466 |
|  |  | &nbsp;&nbsp; 43050867 |
| **Computers — 1.5%** | **Computers — 1.5%** | **Computers — 1.5%** |
| &nbsp;&nbsp;&nbsp; 3D Systems Corp.† | 51572 | &nbsp;&nbsp; 99534 |
| &nbsp;&nbsp;&nbsp; ASGN, Inc.† | 16977 | &nbsp;&nbsp; 728313 |
| &nbsp;&nbsp;&nbsp; Cantaloupe, Inc.† | 22992 | &nbsp;&nbsp; 240037 |
| &nbsp;&nbsp;&nbsp; Conduent, Inc.† | 56716 | &nbsp;&nbsp; 82805 |
| &nbsp;&nbsp;&nbsp; Corsair Gaming, Inc.† | 17898 | &nbsp;&nbsp; 98260 |
| &nbsp;&nbsp;&nbsp; Cricut, Inc., Class A# | 18722 | &nbsp;&nbsp; 80505 |
| &nbsp;&nbsp;&nbsp; CSP, Inc.# | 2822 | &nbsp;&nbsp; 25426 |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf, Inc.† | 10051 | &nbsp;&nbsp; 804080 |
| &nbsp;&nbsp;&nbsp; D-Wave Quantum, Inc.#† | 134616 | &nbsp;&nbsp; 2528089 |
| &nbsp;&nbsp;&nbsp; Grid Dynamics Holdings, Inc.† | 26521 | &nbsp;&nbsp; 179017 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.† | 11815 | &nbsp;&nbsp; 987261 |
| &nbsp;&nbsp;&nbsp; Maximus, Inc. | 22760 | &nbsp;&nbsp; 1720884 |
| &nbsp;&nbsp;&nbsp; Mitek Systems, Inc.† | 17599 | &nbsp;&nbsp; 256593 |
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp.† | 29452 | &nbsp;&nbsp; 1304135 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp; NCR Voyix Corp.† | 55119 | &nbsp;&nbsp; $421109 |
| &nbsp;&nbsp;&nbsp; NetScout Systems, Inc.† | 28394 | &nbsp;&nbsp; 829389 |
| &nbsp;&nbsp;&nbsp; NextNav, Inc.#† | 38837 | &nbsp;&nbsp; 624887 |
| &nbsp;&nbsp;&nbsp; OneSpan, Inc. | 14009 | &nbsp;&nbsp; 154659 |
| &nbsp;&nbsp;&nbsp; PAR Technology Corp.#† | 16059 | &nbsp;&nbsp; 263207 |
| &nbsp;&nbsp;&nbsp; Pitney Bowes, Inc.# | 40708 | &nbsp;&nbsp; 436797 |
| &nbsp;&nbsp;&nbsp; Qualys, Inc.† | 14694 | &nbsp;&nbsp; 1358754 |
| &nbsp;&nbsp;&nbsp; Rapid7, Inc.† | 25324 | &nbsp;&nbsp; 157515 |
| &nbsp;&nbsp;&nbsp; Rigetti Computing, Inc.† | 128468 | &nbsp;&nbsp; 2237913 |
| &nbsp;&nbsp;&nbsp; Rimini Street, Inc.† | 19844 | &nbsp;&nbsp; 73820 |
| &nbsp;&nbsp;&nbsp; Telos Corp.† | 20730 | &nbsp;&nbsp; 83335 |
| &nbsp;&nbsp;&nbsp; Tenable Holdings, Inc.† | 49001 | &nbsp;&nbsp; 942289 |
| &nbsp;&nbsp;&nbsp; TTEC Holdings, Inc.#† | 8084 | &nbsp;&nbsp; 20210 |
| &nbsp;&nbsp;&nbsp; Unisys Corp.† | 27133 | &nbsp;&nbsp; 65933 |
| &nbsp;&nbsp;&nbsp; V2X, Inc.† | 9193 | &nbsp;&nbsp; 641212 |
| &nbsp;&nbsp;&nbsp; Varonis Systems, Inc.† | 46793 | &nbsp;&nbsp; 1080918 |
| &nbsp;&nbsp;&nbsp; Vuzix Corp.#† | 26115 | &nbsp;&nbsp; 75472 |
|  |  | &nbsp;&nbsp; 18602358 |
| **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** | **Cosmetics/Personal Care — 0.2%** |
| &nbsp;&nbsp;&nbsp; Beauty Health Co.† | 46494 | &nbsp;&nbsp; 48354 |
| &nbsp;&nbsp;&nbsp; Edgewell Personal Care Co.# | 18270 | &nbsp;&nbsp; 415460 |
| &nbsp;&nbsp;&nbsp; Honest Co., Inc.#† | 35770 | &nbsp;&nbsp; 100156 |
| &nbsp;&nbsp;&nbsp; Interparfums, Inc. | 7472 | &nbsp;&nbsp; 753028 |
| &nbsp;&nbsp;&nbsp; Olaplex Holdings, Inc.† | 54467 | &nbsp;&nbsp; 87692 |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc.† | 19890 | &nbsp;&nbsp; 1378377 |
| &nbsp;&nbsp;&nbsp; Solesence, Inc.† | 7648 | &nbsp;&nbsp; 9789 |
| &nbsp;&nbsp;&nbsp; Waldencast PLC, Class A† | 17220 | &nbsp;&nbsp; 29102 |
|  |  | &nbsp;&nbsp; 2821958 |
| **Distribution/Wholesale — 0.8%** | **Distribution/Wholesale — 0.8%** | **Distribution/Wholesale — 0.8%** |
| &nbsp;&nbsp;&nbsp; Gold.com, Inc. | 7704 | &nbsp;&nbsp; 442749 |
| &nbsp;&nbsp;&nbsp; EVI Industries, Inc. | 2062 | &nbsp;&nbsp; 40065 |
| &nbsp;&nbsp;&nbsp; G-III Apparel Group, Ltd. | 14827 | &nbsp;&nbsp; 453558 |
| &nbsp;&nbsp;&nbsp; Global Industrial Co. | 5618 | &nbsp;&nbsp; 185281 |
| &nbsp;&nbsp;&nbsp; Hudson Technologies, Inc.† | 14815 | &nbsp;&nbsp; 105335 |
| &nbsp;&nbsp;&nbsp; OPENLANE, Inc.† | 42335 | &nbsp;&nbsp; 1206971 |
| &nbsp;&nbsp;&nbsp; Resideo Technologies, Inc.† | 51930 | &nbsp;&nbsp; 2009691 |
| &nbsp;&nbsp;&nbsp; Rush Enterprises, Inc., Class A | 24571 | &nbsp;&nbsp; 1743804 |
| &nbsp;&nbsp;&nbsp; Rush Enterprises, Inc., Class B | 3637 | &nbsp;&nbsp; 235132 |
| &nbsp;&nbsp;&nbsp; ScanSource, Inc.† | 8656 | &nbsp;&nbsp; 318368 |
| &nbsp;&nbsp;&nbsp; ThredUp, Inc., Class A† | 40432 | &nbsp;&nbsp; 197308 |
| &nbsp;&nbsp;&nbsp; Titan Machinery, Inc.† | 8074 | &nbsp;&nbsp; 157362 |
| &nbsp;&nbsp;&nbsp; VSE Corp. | 10817 | &nbsp;&nbsp; 2456216 |
|  |  | &nbsp;&nbsp; 9551840 |
| **Diversified Financial Services — 2.7%** | **Diversified Financial Services — 2.7%** | **Diversified Financial Services — 2.7%** |
| &nbsp;&nbsp;&nbsp; Acadian Asset Management, Inc. | 10749 | &nbsp;&nbsp; 578941 |
| &nbsp;&nbsp;&nbsp; AlTi Global, Inc.#† | 17306 | &nbsp;&nbsp; 76666 |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc., Class A | 25264 | &nbsp;&nbsp; 1017634 |
| &nbsp;&nbsp;&nbsp; Atlanticus Holdings Corp.† | 2002 | &nbsp;&nbsp; 104725 |
| &nbsp;&nbsp;&nbsp; Bakkt, Inc.#† | 5370 | &nbsp;&nbsp; 51337 |
| &nbsp;&nbsp;&nbsp; Better Home & Finance Holding Co.#† | 1997 | &nbsp;&nbsp; 65701 |
| &nbsp;&nbsp;&nbsp; BGC Group, Inc., Class A | 145775 | &nbsp;&nbsp; 1387778 |
| &nbsp;&nbsp;&nbsp; Bread Financial Holdings, Inc. | 5837 | &nbsp;&nbsp; 413610 |
| &nbsp;&nbsp;&nbsp; Brookfield Business Corp., Class A# | 9421 | &nbsp;&nbsp; 324553 |
| &nbsp;&nbsp;&nbsp; Burford Capital, Ltd.# | 81825 | &nbsp;&nbsp; 690603 |
| &nbsp;&nbsp;&nbsp; Cohen & Steers, Inc. | 11304 | &nbsp;&nbsp; 755898 |
| &nbsp;&nbsp;&nbsp; Columbia Financial, Inc.#† | 10988 | &nbsp;&nbsp; 196685 |
| &nbsp;&nbsp;&nbsp; Consumer Portfolio Services, Inc.† | 3786 | &nbsp;&nbsp; 30667 |
| &nbsp;&nbsp;&nbsp; Dave, Inc.† | 4224 | &nbsp;&nbsp; 816373 |
| &nbsp;&nbsp;&nbsp; Diamond Hill Investment Group, Inc. | 967 | &nbsp;&nbsp; 166198 |
| &nbsp;&nbsp;&nbsp; DigitalBridge Group, Inc. | 71430 | &nbsp;&nbsp; 1103594 |
| &nbsp;&nbsp;&nbsp; Enact Holdings, Inc. | 11240 | &nbsp;&nbsp; 470282 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.† | 9039 | &nbsp;&nbsp; $617273 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc.† | 9827 | &nbsp;&nbsp; 1366444 |
| &nbsp;&nbsp;&nbsp; Federal Agricultural Mtg. Corp., Class C | 3822 | &nbsp;&nbsp; 602577 |
| &nbsp;&nbsp;&nbsp; Finance Of America Cos., Inc., Class A#† | 1805 | &nbsp;&nbsp; 34927 |
| &nbsp;&nbsp;&nbsp; First Western Financial, Inc.† | 3029 | &nbsp;&nbsp; 76603 |
| &nbsp;&nbsp;&nbsp; Forge Global Holdings, Inc.† | 4475 | &nbsp;&nbsp; 201375 |
| &nbsp;&nbsp;&nbsp; GCM Grosvenor, Inc., Class A | 21624 | &nbsp;&nbsp; 250406 |
| &nbsp;&nbsp;&nbsp; International Money Express, Inc.† | 10696 | &nbsp;&nbsp; 168783 |
| &nbsp;&nbsp;&nbsp; Jefferson Capital, Inc. | 2874 | &nbsp;&nbsp; 59291 |
| &nbsp;&nbsp;&nbsp; LendingClub Corp.† | 46120 | &nbsp;&nbsp; 687649 |
| &nbsp;&nbsp;&nbsp; LendingTree, Inc.† | 4282 | &nbsp;&nbsp; 160018 |
| &nbsp;&nbsp;&nbsp; loanDepot, Inc., Class A#† | 33200 | &nbsp;&nbsp; 68724 |
| &nbsp;&nbsp;&nbsp; Marex Group PLC | 22298 | &nbsp;&nbsp; 969071 |
| &nbsp;&nbsp;&nbsp; Medallion Financial Corp. | 6614 | &nbsp;&nbsp; 66735 |
| &nbsp;&nbsp;&nbsp; Miami International Holdings, Inc.† | 9277 | &nbsp;&nbsp; 395200 |
| &nbsp;&nbsp;&nbsp; Moelis & Co., Class A | 18951 | &nbsp;&nbsp; 1124931 |
| &nbsp;&nbsp;&nbsp; Navient Corp. | 28860 | &nbsp;&nbsp; 253679 |
| &nbsp;&nbsp;&nbsp; Nelnet, Inc., Class A | 4425 | &nbsp;&nbsp; 572861 |
| &nbsp;&nbsp;&nbsp; NerdWallet, Inc., Class A#† | 17771 | &nbsp;&nbsp; 192815 |
| &nbsp;&nbsp;&nbsp; Onity Group, Inc.† | 2460 | &nbsp;&nbsp; 103099 |
| &nbsp;&nbsp;&nbsp; Oportun Financial Corp.† | 18748 | &nbsp;&nbsp; 97115 |
| &nbsp;&nbsp;&nbsp; OppFi, Inc. | 9863 | &nbsp;&nbsp; 90542 |
| &nbsp;&nbsp;&nbsp; Pagseguro Digital, Ltd., Class A | 72861 | &nbsp;&nbsp; 773055 |
| &nbsp;&nbsp;&nbsp; Paysign, Inc.† | 12020 | &nbsp;&nbsp; 42671 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. | 11787 | &nbsp;&nbsp; 1083579 |
| &nbsp;&nbsp;&nbsp; Perella Weinberg Partners# | 24518 | &nbsp;&nbsp; 453828 |
| &nbsp;&nbsp;&nbsp; Piper Sandler Cos. | 7041 | &nbsp;&nbsp; 2080968 |
| &nbsp;&nbsp;&nbsp; PJT Partners, Inc., Class A | 9361 | &nbsp;&nbsp; 1382433 |
| &nbsp;&nbsp;&nbsp; PRA Group, Inc.† | 15599 | &nbsp;&nbsp; 245684 |
| &nbsp;&nbsp;&nbsp; Radian Group, Inc. | 54517 | &nbsp;&nbsp; 1881927 |
| &nbsp;&nbsp;&nbsp; Regional Management Corp. | 3502 | &nbsp;&nbsp; 111434 |
| &nbsp;&nbsp;&nbsp; Resolute Holdings Management, Inc.† | 1713 | &nbsp;&nbsp; 288726 |
| &nbsp;&nbsp;&nbsp; Security National Financial Corp., Class A† | 6286 | &nbsp;&nbsp; 56951 |
| &nbsp;&nbsp;&nbsp; Siebert Financial Corp.#† | 5751 | &nbsp;&nbsp; 10927 |
| &nbsp;&nbsp;&nbsp; Silvercrest Asset Management Group, Inc., Class A | 3259 | &nbsp;&nbsp; 49553 |
| &nbsp;&nbsp;&nbsp; StepStone Group, Inc., Class A | 28051 | &nbsp;&nbsp; 1210120 |
| &nbsp;&nbsp;&nbsp; StoneX Group, Inc.† | 19700 | &nbsp;&nbsp; 2511750 |
| &nbsp;&nbsp;&nbsp; Strive, Inc., Class A#† | 6412 | &nbsp;&nbsp; 50911 |
| &nbsp;&nbsp;&nbsp; SWK Holdings Corp. | 1236 | &nbsp;&nbsp; 20295 |
| &nbsp;&nbsp;&nbsp; Upstart Holdings, Inc.#† | 34390 | &nbsp;&nbsp; 936440 |
| &nbsp;&nbsp;&nbsp; Velocity Financial, Inc.† | 4542 | &nbsp;&nbsp; 84436 |
| &nbsp;&nbsp;&nbsp; Victory Capital Holdings, Inc., Class A | 17797 | &nbsp;&nbsp; 1231196 |
| &nbsp;&nbsp;&nbsp; Virtus Investment Partners, Inc. | 2550 | &nbsp;&nbsp; 352818 |
| &nbsp;&nbsp;&nbsp; Vroom, Inc.† | 435 | &nbsp;&nbsp; 6538 |
| &nbsp;&nbsp;&nbsp; Webull Corp.#† | 111754 | &nbsp;&nbsp; 649291 |
| &nbsp;&nbsp;&nbsp; Westwood Holdings Group, Inc. | 3029 | &nbsp;&nbsp; 50766 |
| &nbsp;&nbsp;&nbsp; WisdomTree, Inc.# | 50266 | &nbsp;&nbsp; 860051 |
| &nbsp;&nbsp;&nbsp; World Acceptance Corp.† | 1157 | &nbsp;&nbsp; 156056 |
|  |  | &nbsp;&nbsp; 32993767 |
| **Electric — 1.6%** | **Electric — 1.6%** | **Electric — 1.6%** |
| &nbsp;&nbsp;&nbsp; Ameresco, Inc., Class A† | 12703 | &nbsp;&nbsp; 386933 |
| &nbsp;&nbsp;&nbsp; Avista Corp. | 32713 | &nbsp;&nbsp; 1328802 |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. | 29546 | &nbsp;&nbsp; 2176358 |
| &nbsp;&nbsp;&nbsp; Genie Energy, Ltd., Class B | 8172 | &nbsp;&nbsp; 118739 |
| &nbsp;&nbsp;&nbsp; Hawaiian Electric Industries, Inc.#† | 70303 | &nbsp;&nbsp; 1088993 |
| &nbsp;&nbsp;&nbsp; MGE Energy, Inc. | 14858 | &nbsp;&nbsp; 1218653 |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | 24678 | &nbsp;&nbsp; 1726473 |
| &nbsp;&nbsp;&nbsp; Oklo, Inc.† | 43709 | &nbsp;&nbsp; 2751482 |
| &nbsp;&nbsp;&nbsp; Ormat Technologies, Inc. | 24558 | &nbsp;&nbsp; 2546665 |
| &nbsp;&nbsp;&nbsp; Otter Tail Corp. | 15497 | &nbsp;&nbsp; 1318795 |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | 45602 | &nbsp;&nbsp; 2460684 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; TXNM Energy, Inc. | 40546 | &nbsp;&nbsp; $2393025 |
| &nbsp;&nbsp;&nbsp; Unitil Corp. | 7141 | &nbsp;&nbsp; 373546 |
|  |  | &nbsp;&nbsp; 19889148 |
| **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** |
| &nbsp;&nbsp;&nbsp; American Superconductor Corp.† | 17215 | &nbsp;&nbsp; 560865 |
| &nbsp;&nbsp;&nbsp; AZZ, Inc. | 11939 | &nbsp;&nbsp; 1623465 |
| &nbsp;&nbsp;&nbsp; Belden, Inc. | 15745 | &nbsp;&nbsp; 2256259 |
| &nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.# | 25182 | &nbsp;&nbsp; 543679 |
| &nbsp;&nbsp;&nbsp; EnerSys | 15012 | &nbsp;&nbsp; 2494244 |
| &nbsp;&nbsp;&nbsp; Graham Corp.† | 4220 | &nbsp;&nbsp; 342748 |
| &nbsp;&nbsp;&nbsp; Insteel Industries, Inc. | 7813 | &nbsp;&nbsp; 291269 |
| &nbsp;&nbsp;&nbsp; nLight, Inc.† | 18703 | &nbsp;&nbsp; 1050922 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc.† | 14516 | &nbsp;&nbsp; 1951386 |
| &nbsp;&nbsp;&nbsp; Powell Industries, Inc. | 3839 | &nbsp;&nbsp; 2010100 |
|  |  | &nbsp;&nbsp; 13124937 |
| **Electronics — 3.2%** | **Electronics — 3.2%** | **Electronics — 3.2%** |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 15160 | &nbsp;&nbsp; 5087241 |
| &nbsp;&nbsp;&nbsp; Allient, Inc. | 5966 | &nbsp;&nbsp; 392801 |
| &nbsp;&nbsp;&nbsp; Applied Optoelectronics, Inc.#† | 24316 | &nbsp;&nbsp; 2048137 |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. | 13638 | &nbsp;&nbsp; 882515 |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. | 33575 | &nbsp;&nbsp; 2166595 |
| &nbsp;&nbsp;&nbsp; Badger Meter, Inc. | 11932 | &nbsp;&nbsp; 1818795 |
| &nbsp;&nbsp;&nbsp; Bel Fuse, Inc., Class A | 650 | &nbsp;&nbsp; 137767 |
| &nbsp;&nbsp;&nbsp; Bel Fuse, Inc., Class B# | 4205 | &nbsp;&nbsp; 965931 |
| &nbsp;&nbsp;&nbsp; Benchmark Electronics, Inc. | 14518 | &nbsp;&nbsp; 839286 |
| &nbsp;&nbsp;&nbsp; CTS Corp. | 11493 | &nbsp;&nbsp; 605221 |
| &nbsp;&nbsp;&nbsp; Enovix Corp.#† | 67603 | &nbsp;&nbsp; 356268 |
| &nbsp;&nbsp;&nbsp; ESCO Technologies, Inc. | 10455 | &nbsp;&nbsp; 2899067 |
| &nbsp;&nbsp;&nbsp; Evolv Technologies Holdings, Inc.† | 62604 | &nbsp;&nbsp; 331801 |
| &nbsp;&nbsp;&nbsp; Itron, Inc.† | 18269 | &nbsp;&nbsp; 1716372 |
| &nbsp;&nbsp;&nbsp; Kimball Electronics, Inc.† | 9366 | &nbsp;&nbsp; 234056 |
| &nbsp;&nbsp;&nbsp; Knowles Corp.† | 34579 | &nbsp;&nbsp; 939511 |
| &nbsp;&nbsp;&nbsp; Kopin Corp.#† | 75352 | &nbsp;&nbsp; 166528 |
| &nbsp;&nbsp;&nbsp; KULR Technology Group, Inc.#† | 19696 | &nbsp;&nbsp; 55346 |
| &nbsp;&nbsp;&nbsp; Mesa Laboratories, Inc. | 2247 | &nbsp;&nbsp; 216993 |
| &nbsp;&nbsp;&nbsp; MicroVision, Inc.#† | 113291 | &nbsp;&nbsp; 88492 |
| &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc.† | 96611 | &nbsp;&nbsp; 2087764 |
| &nbsp;&nbsp;&nbsp; M-Tron Industries, Inc.† | 998 | &nbsp;&nbsp; 63163 |
| &nbsp;&nbsp;&nbsp; Napco Security Technologies, Inc. | 13746 | &nbsp;&nbsp; 640701 |
| &nbsp;&nbsp;&nbsp; Neonode, Inc.† | 3818 | &nbsp;&nbsp; 6949 |
| &nbsp;&nbsp;&nbsp; NVE Corp. | 2039 | &nbsp;&nbsp; 140365 |
| &nbsp;&nbsp;&nbsp; OSI Systems, Inc.#† | 6517 | &nbsp;&nbsp; 1858648 |
| &nbsp;&nbsp;&nbsp; Plexus Corp.† | 10806 | &nbsp;&nbsp; 2097769 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp.† | 21015 | &nbsp;&nbsp; 3262789 |
| &nbsp;&nbsp;&nbsp; SKYX Platforms Corp.† | 34601 | &nbsp;&nbsp; 66780 |
| &nbsp;&nbsp;&nbsp; Standard BioTools, Inc.† | 113627 | &nbsp;&nbsp; 128398 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc.† | 41166 | &nbsp;&nbsp; 4291144 |
| &nbsp;&nbsp;&nbsp; Turtle Beach Corp.† | 6084 | &nbsp;&nbsp; 76293 |
| &nbsp;&nbsp;&nbsp; Vicor Corp.† | 9367 | &nbsp;&nbsp; 1886514 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. | 48998 | &nbsp;&nbsp; 917243 |
|  |  | &nbsp;&nbsp; 39473243 |
| **Energy-Alternate Sources — 0.9%** | **Energy-Alternate Sources — 0.9%** | **Energy-Alternate Sources — 0.9%** |
| &nbsp;&nbsp;&nbsp; Nextpower, Inc., Class A† | 58676 | &nbsp;&nbsp; 6166848 |
| &nbsp;&nbsp;&nbsp; SunPower, Inc.#† | 24517 | &nbsp;&nbsp; 31872 |
| &nbsp;&nbsp;&nbsp; Array Technologies, Inc.#† | 62140 | &nbsp;&nbsp; 471021 |
| &nbsp;&nbsp;&nbsp; ASP Isotopes, Inc.#† | 38034 | &nbsp;&nbsp; 203102 |
| &nbsp;&nbsp;&nbsp; Eos Energy Enterprises, Inc.#† | 124115 | &nbsp;&nbsp; 706835 |
| &nbsp;&nbsp;&nbsp; Fluence Energy, Inc.† | 25302 | &nbsp;&nbsp; 393193 |
| &nbsp;&nbsp;&nbsp; FutureFuel Corp. | 13417 | &nbsp;&nbsp; 57961 |
| &nbsp;&nbsp;&nbsp; Gevo, Inc.#† | 88455 | &nbsp;&nbsp; 160988 |
| &nbsp;&nbsp;&nbsp; Green Plains, Inc.† | 27622 | &nbsp;&nbsp; 379250 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Energy-Alternate Sources (continued)** | **Energy-Alternate Sources (continued)** | **Energy-Alternate Sources (continued)** |
| &nbsp;&nbsp;&nbsp; Montauk Renewables, Inc.† | 27358 | &nbsp;&nbsp; $42131 |
| &nbsp;&nbsp;&nbsp; Plug Power, Inc.† | 456713 | &nbsp;&nbsp; 817516 |
| &nbsp;&nbsp;&nbsp; REX American Resources Corp.† | 11712 | &nbsp;&nbsp; 416479 |
| &nbsp;&nbsp;&nbsp; Shoals Technologies Group, Inc., Class A† | 68688 | &nbsp;&nbsp; 407320 |
| &nbsp;&nbsp;&nbsp; Sunrun, Inc.† | 89931 | &nbsp;&nbsp; 1191586 |
| &nbsp;&nbsp;&nbsp; T1 Energy, Inc.#† | 53116 | &nbsp;&nbsp; 327195 |
|  |  | &nbsp;&nbsp; 11773297 |
| **Engineering & Construction — 3.0%** | **Engineering & Construction — 3.0%** | **Engineering & Construction — 3.0%** |
| &nbsp;&nbsp;&nbsp; 908 Devices, Inc.† | 11133 | &nbsp;&nbsp; 76818 |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc. | 19553 | &nbsp;&nbsp; 2101556 |
| &nbsp;&nbsp;&nbsp; Argan, Inc. | 5399 | &nbsp;&nbsp; 2436299 |
| &nbsp;&nbsp;&nbsp; Bowman Consulting Group, Ltd.† | 5426 | &nbsp;&nbsp; 181988 |
| &nbsp;&nbsp;&nbsp; Centuri Holdings, Inc.† | 31647 | &nbsp;&nbsp; 981057 |
| &nbsp;&nbsp;&nbsp; Concrete Pumping Holdings, Inc.† | 9129 | &nbsp;&nbsp; 61529 |
| &nbsp;&nbsp;&nbsp; Construction Partners, Inc., Class A† | 18871 | &nbsp;&nbsp; 2535696 |
| &nbsp;&nbsp;&nbsp; Dycom Industries, Inc.† | 11273 | &nbsp;&nbsp; 4734886 |
| &nbsp;&nbsp;&nbsp; Energy Services of America Corp. | 4805 | &nbsp;&nbsp; 75054 |
| &nbsp;&nbsp;&nbsp; Exponent, Inc. | 20439 | &nbsp;&nbsp; 1487550 |
| &nbsp;&nbsp;&nbsp; Fluor Corp.† | 64761 | &nbsp;&nbsp; 3387648 |
| &nbsp;&nbsp;&nbsp; Frontdoor, Inc.† | 29496 | &nbsp;&nbsp; 2022541 |
| &nbsp;&nbsp;&nbsp; Granite Construction, Inc. | 17603 | &nbsp;&nbsp; 2366899 |
| &nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp.† | 26220 | &nbsp;&nbsp; 444429 |
| &nbsp;&nbsp;&nbsp; IES Holdings, Inc.† | 3633 | &nbsp;&nbsp; 1799607 |
| &nbsp;&nbsp;&nbsp; Latham Group, Inc.† | 16958 | &nbsp;&nbsp; 113788 |
| &nbsp;&nbsp;&nbsp; Limbach Holdings, Inc.#† | 4178 | &nbsp;&nbsp; 381953 |
| &nbsp;&nbsp;&nbsp; Mistras Group, Inc.† | 4533 | &nbsp;&nbsp; 69264 |
| &nbsp;&nbsp;&nbsp; MYR Group, Inc.† | 6174 | &nbsp;&nbsp; 1666733 |
| &nbsp;&nbsp;&nbsp; Orion Group Holdings, Inc.† | 14485 | &nbsp;&nbsp; 198879 |
| &nbsp;&nbsp;&nbsp; Primoris Services Corp. | 21760 | &nbsp;&nbsp; 3279667 |
| &nbsp;&nbsp;&nbsp; Southland Holdings, Inc.† | 4325 | &nbsp;&nbsp; 4844 |
| &nbsp;&nbsp;&nbsp; Sterling Infrastructure, Inc.† | 11997 | &nbsp;&nbsp; 5136276 |
| &nbsp;&nbsp;&nbsp; TSS, Inc.#† | 9194 | &nbsp;&nbsp; 94974 |
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp. | 17904 | &nbsp;&nbsp; 1349425 |
|  |  | &nbsp;&nbsp; 36989360 |
| **Entertainment — 0.9%** | **Entertainment — 0.9%** | **Entertainment — 0.9%** |
| &nbsp;&nbsp;&nbsp; Accel Entertainment, Inc.† | 21168 | &nbsp;&nbsp; 240468 |
| &nbsp;&nbsp;&nbsp; AMC Entertainment Holdings, Inc., Class A† | 193551 | &nbsp;&nbsp; 224519 |
| &nbsp;&nbsp;&nbsp; Atlanta Braves Holdings, Inc., Class A† | 3179 | &nbsp;&nbsp; 153895 |
| &nbsp;&nbsp;&nbsp; Atlanta Braves Holdings, Inc., Class C† | 18769 | &nbsp;&nbsp; 820393 |
| &nbsp;&nbsp;&nbsp; Bally's Corp.#† | 2983 | &nbsp;&nbsp; 42418 |
| &nbsp;&nbsp;&nbsp; Brightstar Lottery PLC# | 41392 | &nbsp;&nbsp; 561276 |
| &nbsp;&nbsp;&nbsp; Cinemark Holdings, Inc. | 41909 | &nbsp;&nbsp; 1183510 |
| &nbsp;&nbsp;&nbsp; Falcon's Beyond Global, Inc., Class A#† | 5305 | &nbsp;&nbsp; 34376 |
| &nbsp;&nbsp;&nbsp; Golden Entertainment, Inc. | 7592 | &nbsp;&nbsp; 219409 |
| &nbsp;&nbsp;&nbsp; IMAX Corp.#† | 17914 | &nbsp;&nbsp; 767257 |
| &nbsp;&nbsp;&nbsp; Inspired Entertainment, Inc.† | 9325 | &nbsp;&nbsp; 76092 |
| &nbsp;&nbsp;&nbsp; Lionsgate Studios Corp.† | 83606 | &nbsp;&nbsp; 752454 |
| &nbsp;&nbsp;&nbsp; Madison Square Garden Entertainment Corp.† | 16021 | &nbsp;&nbsp; 1011566 |
| &nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. | 11405 | &nbsp;&nbsp; 741439 |
| &nbsp;&nbsp;&nbsp; Monarch Casino & Resort, Inc. | 5063 | &nbsp;&nbsp; 486554 |
| &nbsp;&nbsp;&nbsp; Pursuit Attractions & Hospitality, Inc.† | 8416 | &nbsp;&nbsp; 292540 |
| &nbsp;&nbsp;&nbsp; RCI Hospitality Holdings, Inc.# | 3345 | &nbsp;&nbsp; 74025 |
| &nbsp;&nbsp;&nbsp; Red Rock Resorts, Inc., Class A | 19641 | &nbsp;&nbsp; 1189263 |
| &nbsp;&nbsp;&nbsp; Reservoir Media, Inc.† | 8277 | &nbsp;&nbsp; 74245 |
| &nbsp;&nbsp;&nbsp; Rush Street Interactive, Inc.† | 37414 | &nbsp;&nbsp; 738927 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp.#† | 39228 | &nbsp;&nbsp; 668053 |
| &nbsp;&nbsp;&nbsp; Starz Entertainment Corp.† | 5022 | &nbsp;&nbsp; 55242 |
| &nbsp;&nbsp;&nbsp; Super Group SGHC, Ltd. | 63053 | &nbsp;&nbsp; 674667 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp; United Parks & Resorts, Inc.#† | 10699 | &nbsp;&nbsp; $372218 |
| &nbsp;&nbsp;&nbsp; Webtoon Entertainment, Inc.#† | 7300 | &nbsp;&nbsp; 82125 |
|  |  | &nbsp;&nbsp; 11536931 |
| **Environmental Control — 0.4%** | **Environmental Control — 0.4%** | **Environmental Control — 0.4%** |
| &nbsp;&nbsp;&nbsp; Arq, Inc.#† | 12507 | &nbsp;&nbsp; 43900 |
| &nbsp;&nbsp;&nbsp; Casella Waste Systems, Inc., Class A#† | 25283 | &nbsp;&nbsp; 2355364 |
| &nbsp;&nbsp;&nbsp; CECO Environmental Corp.† | 11936 | &nbsp;&nbsp; 721531 |
| &nbsp;&nbsp;&nbsp; Energy Recovery, Inc.† | 20556 | &nbsp;&nbsp; 214399 |
| &nbsp;&nbsp;&nbsp; Enviri Corp.† | 29961 | &nbsp;&nbsp; 567162 |
| &nbsp;&nbsp;&nbsp; Montrose Environmental Group, Inc.† | 13179 | &nbsp;&nbsp; 385090 |
| &nbsp;&nbsp;&nbsp; Perma-Fix Environmental Services, Inc.#† | 7035 | &nbsp;&nbsp; 95957 |
| &nbsp;&nbsp;&nbsp; Pure Cycle Corp.† | 8052 | &nbsp;&nbsp; 85110 |
| &nbsp;&nbsp;&nbsp; PureCycle Technologies, Inc.#† | 51318 | &nbsp;&nbsp; 323817 |
|  |  | &nbsp;&nbsp; 4792330 |
| **Food — 0.8%** | **Food — 0.8%** | **Food — 0.8%** |
| &nbsp;&nbsp;&nbsp; Marzetti Company | 8080 | &nbsp;&nbsp; 1327867 |
| &nbsp;&nbsp;&nbsp; B&G Foods, Inc.# | 31081 | &nbsp;&nbsp; 165040 |
| &nbsp;&nbsp;&nbsp; Beyond Meat, Inc.#† | 139613 | &nbsp;&nbsp; 132018 |
| &nbsp;&nbsp;&nbsp; Calavo Growers, Inc. | 6457 | &nbsp;&nbsp; 173306 |
| &nbsp;&nbsp;&nbsp; Cal-Maine Foods, Inc.# | 17795 | &nbsp;&nbsp; 1550123 |
| &nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc.† | 14729 | &nbsp;&nbsp; 1051503 |
| &nbsp;&nbsp;&nbsp; FitLife Brands, Inc.#† | 1587 | &nbsp;&nbsp; 24011 |
| &nbsp;&nbsp;&nbsp; Grocery Outlet Holding Corp.† | 38139 | &nbsp;&nbsp; 376813 |
| &nbsp;&nbsp;&nbsp; Hain Celestial Group, Inc.#† | 30290 | &nbsp;&nbsp; 24214 |
| &nbsp;&nbsp;&nbsp; HF Foods Group, Inc.† | 14789 | &nbsp;&nbsp; 30909 |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc., Class A | 5968 | &nbsp;&nbsp; 507877 |
| &nbsp;&nbsp;&nbsp; J&J Snack Foods Corp. | 6410 | &nbsp;&nbsp; 558055 |
| &nbsp;&nbsp;&nbsp; John B. Sanfilippo & Son, Inc. | 2998 | &nbsp;&nbsp; 247665 |
| &nbsp;&nbsp;&nbsp; Lifeway Foods, Inc.† | 2089 | &nbsp;&nbsp; 46292 |
| &nbsp;&nbsp;&nbsp; Mama's Creations, Inc.† | 14108 | &nbsp;&nbsp; 241811 |
| &nbsp;&nbsp;&nbsp; Mission Produce, Inc.† | 18052 | &nbsp;&nbsp; 256158 |
| &nbsp;&nbsp;&nbsp; Nathan's Famous, Inc. | 1074 | &nbsp;&nbsp; 108023 |
| &nbsp;&nbsp;&nbsp; Natural Grocers by Vitamin Cottage, Inc. | 4932 | &nbsp;&nbsp; 133312 |
| &nbsp;&nbsp;&nbsp; Seneca Foods Corp., Class A† | 1978 | &nbsp;&nbsp; 274903 |
| &nbsp;&nbsp;&nbsp; Simply Good Foods Co.† | 38022 | &nbsp;&nbsp; 648655 |
| &nbsp;&nbsp;&nbsp; SunOpta, Inc.† | 37251 | &nbsp;&nbsp; 241387 |
| &nbsp;&nbsp;&nbsp; Tootsie Roll Industries, Inc.# | 7280 | &nbsp;&nbsp; 307434 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc.† | 24266 | &nbsp;&nbsp; 927204 |
| &nbsp;&nbsp;&nbsp; Utz Brands, Inc. | 30165 | &nbsp;&nbsp; 280233 |
| &nbsp;&nbsp;&nbsp; Village Super Market, Inc., Class A | 3428 | &nbsp;&nbsp; 134206 |
| &nbsp;&nbsp;&nbsp; Weis Markets, Inc. | 5403 | &nbsp;&nbsp; 366107 |
|  |  | &nbsp;&nbsp; 10135126 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| &nbsp;&nbsp;&nbsp; Magnera Corp.† | 12751 | &nbsp;&nbsp; 165125 |
| &nbsp;&nbsp;&nbsp; Sylvamo Corp. | 14076 | &nbsp;&nbsp; 651719 |
|  |  | &nbsp;&nbsp; 816844 |
| **Gas — 1.1%** | **Gas — 1.1%** | **Gas — 1.1%** |
| &nbsp;&nbsp;&nbsp; Brookfield Infrastructure Corp., Class A# | 48512 | &nbsp;&nbsp; 2419779 |
| &nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | 9408 | &nbsp;&nbsp; 1279206 |
| &nbsp;&nbsp;&nbsp; New Jersey Resources Corp. | 40632 | &nbsp;&nbsp; 2203880 |
| &nbsp;&nbsp;&nbsp; Northwest Natural Holding Co. | 16703 | &nbsp;&nbsp; 885927 |
| &nbsp;&nbsp;&nbsp; ONE Gas, Inc. | 24087 | &nbsp;&nbsp; 2106167 |
| &nbsp;&nbsp;&nbsp; RGC Resources, Inc. | 3367 | &nbsp;&nbsp; 74276 |
| &nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | 26038 | &nbsp;&nbsp; 2295770 |
| &nbsp;&nbsp;&nbsp; Spire, Inc. | 23465 | &nbsp;&nbsp; 2149629 |
|  |  | &nbsp;&nbsp; 13414634 |
| **Hand/Machine Tools — 0.3%** | **Hand/Machine Tools — 0.3%** | **Hand/Machine Tools — 0.3%** |
| &nbsp;&nbsp;&nbsp; Cadre Holdings, Inc.# | 11462 | &nbsp;&nbsp; 508798 |
| &nbsp;&nbsp;&nbsp; Enerpac Tool Group Corp. | 21520 | &nbsp;&nbsp; 878016 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Hand/Machine Tools (continued)** | **Hand/Machine Tools (continued)** | **Hand/Machine Tools (continued)** |
| &nbsp;&nbsp;&nbsp; Franklin Electric Co., Inc. | 15603 | &nbsp;&nbsp; $1554371 |
| &nbsp;&nbsp;&nbsp; Kennametal, Inc. | 30655 | &nbsp;&nbsp; 1234784 |
| &nbsp;&nbsp;&nbsp; Luxfer Holdings PLC | 10238 | &nbsp;&nbsp; 131763 |
|  |  | &nbsp;&nbsp; 4307732 |
| **Healthcare-Products — 3.3%** | **Healthcare-Products — 3.3%** | **Healthcare-Products — 3.3%** |
| &nbsp;&nbsp;&nbsp; 10X Genomics, Inc., Class A#† | 44809 | &nbsp;&nbsp; 1032847 |
| &nbsp;&nbsp;&nbsp; Accuray, Inc.† | 58388 | &nbsp;&nbsp; 33719 |
| &nbsp;&nbsp;&nbsp; Adaptive Biotechnologies Corp.† | 60415 | &nbsp;&nbsp; 967848 |
| &nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc.† | 48126 | &nbsp;&nbsp; 655476 |
| &nbsp;&nbsp;&nbsp; AngioDynamics, Inc.† | 16083 | &nbsp;&nbsp; 183990 |
| &nbsp;&nbsp;&nbsp; Anteris Technologies Global Corp.† | 13030 | &nbsp;&nbsp; 84825 |
| &nbsp;&nbsp;&nbsp; Artivion, Inc.† | 17252 | &nbsp;&nbsp; 664202 |
| &nbsp;&nbsp;&nbsp; AtriCure, Inc.† | 19831 | &nbsp;&nbsp; 619917 |
| &nbsp;&nbsp;&nbsp; Avanos Medical, Inc.† | 17329 | &nbsp;&nbsp; 244339 |
| &nbsp;&nbsp;&nbsp; Avita Medical, Inc.#† | 4675 | &nbsp;&nbsp; 23515 |
| &nbsp;&nbsp;&nbsp; Axogen, Inc.† | 18220 | &nbsp;&nbsp; 578121 |
| &nbsp;&nbsp;&nbsp; Azenta, Inc.#† | 16079 | &nbsp;&nbsp; 433811 |
| &nbsp;&nbsp;&nbsp; Beta Bionics, Inc.† | 16083 | &nbsp;&nbsp; 203128 |
| &nbsp;&nbsp;&nbsp; BioLife Solutions, Inc.† | 16359 | &nbsp;&nbsp; 395888 |
| &nbsp;&nbsp;&nbsp; Bioventus, Inc., Class A#† | 17337 | &nbsp;&nbsp; 152219 |
| &nbsp;&nbsp;&nbsp; Butterfly Network, Inc.#† | 77180 | &nbsp;&nbsp; 292512 |
| &nbsp;&nbsp;&nbsp; CapsoVision, Inc.† | 2135 | &nbsp;&nbsp; 11721 |
| &nbsp;&nbsp;&nbsp; CareDx, Inc.† | 21260 | &nbsp;&nbsp; 398838 |
| &nbsp;&nbsp;&nbsp; Castle Biosciences, Inc.† | 11189 | &nbsp;&nbsp; 330859 |
| &nbsp;&nbsp;&nbsp; Ceribell, Inc.† | 10584 | &nbsp;&nbsp; 197603 |
| &nbsp;&nbsp;&nbsp; Cerus Corp.#† | 74590 | &nbsp;&nbsp; 190950 |
| &nbsp;&nbsp;&nbsp; ClearPoint Neuro, Inc.#† | 10059 | &nbsp;&nbsp; 126442 |
| &nbsp;&nbsp;&nbsp; CONMED Corp. | 12835 | &nbsp;&nbsp; 590410 |
| &nbsp;&nbsp;&nbsp; CVRx, Inc.#† | 8435 | &nbsp;&nbsp; 68830 |
| &nbsp;&nbsp;&nbsp; Delcath Systems, Inc.#† | 11215 | &nbsp;&nbsp; 99813 |
| &nbsp;&nbsp;&nbsp; Electromed, Inc.† | 2701 | &nbsp;&nbsp; 64014 |
| &nbsp;&nbsp;&nbsp; Embecta Corp. | 24858 | &nbsp;&nbsp; 255043 |
| &nbsp;&nbsp;&nbsp; Enovis Corp.† | 22646 | &nbsp;&nbsp; 576794 |
| &nbsp;&nbsp;&nbsp; Glaukos Corp.† | 22474 | &nbsp;&nbsp; 2705870 |
| &nbsp;&nbsp;&nbsp; GRAIL, Inc.† | 14130 | &nbsp;&nbsp; 752140 |
| &nbsp;&nbsp;&nbsp; Guardant Health, Inc.† | 48842 | &nbsp;&nbsp; 4586264 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp.† | 19402 | &nbsp;&nbsp; 1228535 |
| &nbsp;&nbsp;&nbsp; ICU Medical, Inc.† | 9719 | &nbsp;&nbsp; 1463487 |
| &nbsp;&nbsp;&nbsp; Inogen, Inc.† | 8576 | &nbsp;&nbsp; 52314 |
| &nbsp;&nbsp;&nbsp; Integer Holdings Corp.† | 13884 | &nbsp;&nbsp; 1203465 |
| &nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp.† | 27149 | &nbsp;&nbsp; 308956 |
| &nbsp;&nbsp;&nbsp; iRadimed Corp. | 3302 | &nbsp;&nbsp; 341856 |
| &nbsp;&nbsp;&nbsp; iRhythm Technologies, Inc.† | 12818 | &nbsp;&nbsp; 1714407 |
| &nbsp;&nbsp;&nbsp; Kestra Medical Technologies, Ltd.† | 8204 | &nbsp;&nbsp; 190989 |
| &nbsp;&nbsp;&nbsp; KORU Medical Systems, Inc.† | 16177 | &nbsp;&nbsp; 77164 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.† | 26940 | &nbsp;&nbsp; 2018075 |
| &nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. | 8492 | &nbsp;&nbsp; 918665 |
| &nbsp;&nbsp;&nbsp; Lensar, Inc.#† | 3936 | &nbsp;&nbsp; 47114 |
| &nbsp;&nbsp;&nbsp; LivaNova PLC† | 21916 | &nbsp;&nbsp; 1547270 |
| &nbsp;&nbsp;&nbsp; Lucid Diagnostics, Inc.#† | 33747 | &nbsp;&nbsp; 48596 |
| &nbsp;&nbsp;&nbsp; MaxCyte, Inc.† | 40960 | &nbsp;&nbsp; 33231 |
| &nbsp;&nbsp;&nbsp; Merit Medical Systems, Inc.† | 23510 | &nbsp;&nbsp; 1814502 |
| &nbsp;&nbsp;&nbsp; MiMedx Group, Inc.† | 48970 | &nbsp;&nbsp; 239463 |
| &nbsp;&nbsp;&nbsp; Myomo, Inc.#† | 13237 | &nbsp;&nbsp; 10259 |
| &nbsp;&nbsp;&nbsp; Neogen Corp.† | 88419 | &nbsp;&nbsp; 992945 |
| &nbsp;&nbsp;&nbsp; NeuroPace, Inc.† | 9532 | &nbsp;&nbsp; 138977 |
| &nbsp;&nbsp;&nbsp; Novocure, Ltd.† | 40021 | &nbsp;&nbsp; 547087 |
| &nbsp;&nbsp;&nbsp; OmniAb, Inc.† | 39377 | &nbsp;&nbsp; 67728 |
| &nbsp;&nbsp;&nbsp; Omnicell, Inc.† | 18644 | &nbsp;&nbsp; 766268 |
| &nbsp;&nbsp;&nbsp; OraSure Technologies, Inc.† | 30575 | &nbsp;&nbsp; 96311 |
| &nbsp;&nbsp;&nbsp; Orthofix Medical, Inc.† | 16633 | &nbsp;&nbsp; 225044 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp; OrthoPediatrics Corp.#† | 6393 | &nbsp;&nbsp; $122554 |
| &nbsp;&nbsp;&nbsp; Outset Medical, Inc.† | 5655 | &nbsp;&nbsp; 19736 |
| &nbsp;&nbsp;&nbsp; Pacific Biosciences of California, Inc.† | 109135 | &nbsp;&nbsp; 183347 |
| &nbsp;&nbsp;&nbsp; PROCEPT BioRobotics Corp.† | 21072 | &nbsp;&nbsp; 478124 |
| &nbsp;&nbsp;&nbsp; Pulmonx Corp.† | 14206 | &nbsp;&nbsp; 22445 |
| &nbsp;&nbsp;&nbsp; Pulse Biosciences, Inc.#† | 6724 | &nbsp;&nbsp; 125941 |
| &nbsp;&nbsp;&nbsp; Quanterix Corp.#† | 17640 | &nbsp;&nbsp; 115542 |
| &nbsp;&nbsp;&nbsp; Quantum-Si, Inc.#† | 73366 | &nbsp;&nbsp; 70167 |
| &nbsp;&nbsp;&nbsp; QuidelOrtho Corp.† | 27765 | &nbsp;&nbsp; 631376 |
| &nbsp;&nbsp;&nbsp; RxSight, Inc.† | 15227 | &nbsp;&nbsp; 113898 |
| &nbsp;&nbsp;&nbsp; Sanara Medtech, Inc.† | 1121 | &nbsp;&nbsp; 22913 |
| &nbsp;&nbsp;&nbsp; SANUWAVE Health, Inc.#† | 2852 | &nbsp;&nbsp; 69375 |
| &nbsp;&nbsp;&nbsp; Shoulder Innovations, Inc.† | 1826 | &nbsp;&nbsp; 24761 |
| &nbsp;&nbsp;&nbsp; SI-BONE, Inc.† | 15888 | &nbsp;&nbsp; 246582 |
| &nbsp;&nbsp;&nbsp; STAAR Surgical Co.† | 19898 | &nbsp;&nbsp; 395970 |
| &nbsp;&nbsp;&nbsp; Stereotaxis, Inc.† | 23285 | &nbsp;&nbsp; 50296 |
| &nbsp;&nbsp;&nbsp; Tactile Systems Technology, Inc.† | 8787 | &nbsp;&nbsp; 257371 |
| &nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc.† | 26733 | &nbsp;&nbsp; 676345 |
| &nbsp;&nbsp;&nbsp; TransMedics Group, Inc.#† | 13500 | &nbsp;&nbsp; 1961010 |
| &nbsp;&nbsp;&nbsp; Treace Medical Concepts, Inc.† | 18826 | &nbsp;&nbsp; 35016 |
| &nbsp;&nbsp;&nbsp; Twist Bioscience Corp.† | 24049 | &nbsp;&nbsp; 1128379 |
| &nbsp;&nbsp;&nbsp; UFP Technologies, Inc.† | 3076 | &nbsp;&nbsp; 647744 |
| &nbsp;&nbsp;&nbsp; Utah Medical Products, Inc. | 1084 | &nbsp;&nbsp; 72205 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp.† | 17518 | &nbsp;&nbsp; 230712 |
|  |  | &nbsp;&nbsp; 41316465 |
| **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** |
| &nbsp;&nbsp;&nbsp; Strata Critical Medical, Inc. † | 26074 | &nbsp;&nbsp; 111597 |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp.† | 7371 | &nbsp;&nbsp; 763120 |
| &nbsp;&nbsp;&nbsp; agilon health, Inc.† | 120781 | &nbsp;&nbsp; 71176 |
| &nbsp;&nbsp;&nbsp; Ardent Health, Inc.† | 10886 | &nbsp;&nbsp; 102219 |
| &nbsp;&nbsp;&nbsp; Astrana Health, Inc.† | 17032 | &nbsp;&nbsp; 346260 |
| &nbsp;&nbsp;&nbsp; Aveanna Healthcare Holdings, Inc.† | 28105 | &nbsp;&nbsp; 206853 |
| &nbsp;&nbsp;&nbsp; Biote Corp., Class A† | 11859 | &nbsp;&nbsp; 25141 |
| &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc.† | 44738 | &nbsp;&nbsp; 1853495 |
| &nbsp;&nbsp;&nbsp; Brookdale Senior Living, Inc.† | 93506 | &nbsp;&nbsp; 1430642 |
| &nbsp;&nbsp;&nbsp; Clover Health Investments Corp.#† | 162824 | &nbsp;&nbsp; 340302 |
| &nbsp;&nbsp;&nbsp; Community Health Systems, Inc.#† | 49991 | &nbsp;&nbsp; 172969 |
| &nbsp;&nbsp;&nbsp; Concentra Group Holdings Parent, Inc. | 47079 | &nbsp;&nbsp; 1128013 |
| &nbsp;&nbsp;&nbsp; CorVel Corp.† | 11987 | &nbsp;&nbsp; 618289 |
| &nbsp;&nbsp;&nbsp; DocGo, Inc.† | 37043 | &nbsp;&nbsp; 26597 |
| &nbsp;&nbsp;&nbsp; Enhabit, Inc.† | 21067 | &nbsp;&nbsp; 286722 |
| &nbsp;&nbsp;&nbsp; Ensign Group, Inc. | 22587 | &nbsp;&nbsp; 4837458 |
| &nbsp;&nbsp;&nbsp; Fortrea Holdings, Inc.† | 35980 | &nbsp;&nbsp; 385706 |
| &nbsp;&nbsp;&nbsp; Fulgent Genetics, Inc.† | 7979 | &nbsp;&nbsp; 122318 |
| &nbsp;&nbsp;&nbsp; GeneDx Holdings Corp.† | 7767 | &nbsp;&nbsp; 619108 |
| &nbsp;&nbsp;&nbsp; Ginkgo Bioworks Holdings, Inc.† | 17448 | &nbsp;&nbsp; 117774 |
| &nbsp;&nbsp;&nbsp; HealthEquity, Inc.† | 34310 | &nbsp;&nbsp; 2624372 |
| &nbsp;&nbsp;&nbsp; Innovage Holding Corp.† | 8226 | &nbsp;&nbsp; 73705 |
| &nbsp;&nbsp;&nbsp; Joint Corp.#† | 5050 | &nbsp;&nbsp; 44440 |
| &nbsp;&nbsp;&nbsp; LifeStance Health Group, Inc.† | 67161 | &nbsp;&nbsp; 486246 |
| &nbsp;&nbsp;&nbsp; Nano-X Imaging, Ltd.#† | 22486 | &nbsp;&nbsp; 53292 |
| &nbsp;&nbsp;&nbsp; National HealthCare Corp. | 5162 | &nbsp;&nbsp; 843987 |
| &nbsp;&nbsp;&nbsp; Neuronetics, Inc.#† | 19442 | &nbsp;&nbsp; 26052 |
| &nbsp;&nbsp;&nbsp; Oncology Institute, Inc.#† | 31374 | &nbsp;&nbsp; 90671 |
| &nbsp;&nbsp;&nbsp; OPKO Health, Inc.† | 177114 | &nbsp;&nbsp; 212537 |
| &nbsp;&nbsp;&nbsp; Option Care Health, Inc.† | 64216 | &nbsp;&nbsp; 2084451 |
| &nbsp;&nbsp;&nbsp; Oscar Health, Inc., Class A† | 79715 | &nbsp;&nbsp; 1087313 |
| &nbsp;&nbsp;&nbsp; PACS Group, Inc.† | 18000 | &nbsp;&nbsp; 657180 |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. † | 35414 | &nbsp;&nbsp; 702968 |
| &nbsp;&nbsp;&nbsp; Pennant Group, Inc.† | 13372 | &nbsp;&nbsp; 450770 |
| &nbsp;&nbsp;&nbsp; Personalis, Inc.#† | 20686 | &nbsp;&nbsp; 187415 |
| &nbsp;&nbsp;&nbsp; Privia Health Group, Inc.† | 46983 | &nbsp;&nbsp; 1115846 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp; RadNet, Inc.† | 27451 | &nbsp;&nbsp; $1916354 |
| &nbsp;&nbsp;&nbsp; SBC Medical Group Holdings, Inc.† | 2381 | &nbsp;&nbsp; 9191 |
| &nbsp;&nbsp;&nbsp; Select Medical Holdings Corp. | 43902 | &nbsp;&nbsp; 657213 |
| &nbsp;&nbsp;&nbsp; Sonida Senior Living, Inc.#† | 2233 | &nbsp;&nbsp; 80142 |
| &nbsp;&nbsp;&nbsp; Surgery Partners, Inc.#† | 30728 | &nbsp;&nbsp; 476284 |
| &nbsp;&nbsp;&nbsp; Teladoc Health, Inc.#† | 72096 | &nbsp;&nbsp; 379225 |
| &nbsp;&nbsp;&nbsp; U.S. Physical Therapy, Inc. | 5941 | &nbsp;&nbsp; 492865 |
| &nbsp;&nbsp;&nbsp; Viemed Healthcare, Inc.† | 12590 | &nbsp;&nbsp; 109533 |
|  |  | &nbsp;&nbsp; 28427811 |
| **Home Builders — 1.7%** | **Home Builders — 1.7%** | **Home Builders — 1.7%** |
| &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc.† | 11553 | &nbsp;&nbsp; 295526 |
| &nbsp;&nbsp;&nbsp; Cavco Industries, Inc.† | 3130 | &nbsp;&nbsp; 1806824 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. | 10621 | &nbsp;&nbsp; 714050 |
| &nbsp;&nbsp;&nbsp; Champion Homes, Inc.† | 22743 | &nbsp;&nbsp; 2126016 |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes, Inc., Class A#† | 11731 | &nbsp;&nbsp; 211979 |
| &nbsp;&nbsp;&nbsp; Forestar Group, Inc.† | 8241 | &nbsp;&nbsp; 236681 |
| &nbsp;&nbsp;&nbsp; Green Brick Partners, Inc.† | 12633 | &nbsp;&nbsp; 930547 |
| &nbsp;&nbsp;&nbsp; Hovnanian Enterprises, Inc., Class A† | 1917 | &nbsp;&nbsp; 240813 |
| &nbsp;&nbsp;&nbsp; Installed Building Products, Inc.# | 9327 | &nbsp;&nbsp; 3057017 |
| &nbsp;&nbsp;&nbsp; KB Home | 25401 | &nbsp;&nbsp; 1614996 |
| &nbsp;&nbsp;&nbsp; LCI Industries | 9518 | &nbsp;&nbsp; 1267798 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.† | 8071 | &nbsp;&nbsp; 418885 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc.† | 10490 | &nbsp;&nbsp; 1491258 |
| &nbsp;&nbsp;&nbsp; Meritage Homes Corp. | 28011 | &nbsp;&nbsp; 2112590 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.† | 38611 | &nbsp;&nbsp; 2544079 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc.† | 34087 | &nbsp;&nbsp; 1578228 |
| &nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. | 11287 | &nbsp;&nbsp; 450238 |
|  |  | &nbsp;&nbsp; 21097525 |
| **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** | **Home Furnishings — 0.3%** |
| &nbsp;&nbsp;&nbsp; Alliance Laundry Holdings, Inc.† | 17234 | &nbsp;&nbsp; 386558 |
| &nbsp;&nbsp;&nbsp; Arhaus, Inc.† | 19824 | &nbsp;&nbsp; 163548 |
| &nbsp;&nbsp;&nbsp; Daktronics, Inc.† | 15727 | &nbsp;&nbsp; 405442 |
| &nbsp;&nbsp;&nbsp; Ethan Allen Interiors, Inc. | 9664 | &nbsp;&nbsp; 220146 |
| &nbsp;&nbsp;&nbsp; Flexsteel Industries, Inc. | 1502 | &nbsp;&nbsp; 77308 |
| &nbsp;&nbsp;&nbsp; Hamilton Beach Brands Holding Co., Class A | 2925 | &nbsp;&nbsp; 55692 |
| &nbsp;&nbsp;&nbsp; Leggett & Platt, Inc. | 54597 | &nbsp;&nbsp; 637693 |
| &nbsp;&nbsp;&nbsp; Lovesac Co.#† | 5127 | &nbsp;&nbsp; 65523 |
| &nbsp;&nbsp;&nbsp; MillerKnoll, Inc. | 27312 | &nbsp;&nbsp; 550064 |
| &nbsp;&nbsp;&nbsp; Sleep Number Corp.#† | 8340 | &nbsp;&nbsp; 51458 |
| &nbsp;&nbsp;&nbsp; Sonos, Inc.† | 48641 | &nbsp;&nbsp; 749071 |
| &nbsp;&nbsp;&nbsp; Traeger, Inc.† | 12881 | &nbsp;&nbsp; 11078 |
| &nbsp;&nbsp;&nbsp; Xperi, Inc.† | 18161 | &nbsp;&nbsp; 111327 |
|  |  | &nbsp;&nbsp; 3484908 |
| **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 32880 | &nbsp;&nbsp; 133822 |
| &nbsp;&nbsp;&nbsp; Acme United Corp. | 1351 | &nbsp;&nbsp; 60808 |
| &nbsp;&nbsp;&nbsp; Helen of Troy, Ltd.† | 9254 | &nbsp;&nbsp; 163241 |
| &nbsp;&nbsp;&nbsp; Quanex Building Products Corp. | 18425 | &nbsp;&nbsp; 378265 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands Holdings, Inc. | 9587 | &nbsp;&nbsp; 751429 |
| &nbsp;&nbsp;&nbsp; WD-40 Co. | 5472 | &nbsp;&nbsp; 1303430 |
|  |  | &nbsp;&nbsp; 2790995 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co.#† | 3943 | &nbsp;&nbsp; 154526 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co., Class A† | 20017 | &nbsp;&nbsp; 691387 |
|  |  | &nbsp;&nbsp; 845913 |
| **Insurance — 1.9%** | **Insurance — 1.9%** | **Insurance — 1.9%** |
| &nbsp;&nbsp;&nbsp; Octave Specialty Group, Inc.† | 15600 | &nbsp;&nbsp; 83460 |
| &nbsp;&nbsp;&nbsp; Abacus Global Management, Inc.# | 15482 | &nbsp;&nbsp; 141351 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; American Coastal Insurance Corp. | 9331 | &nbsp;&nbsp; $106280 |
| &nbsp;&nbsp;&nbsp; American Integrity Insurance Group, Inc.† | 3072 | &nbsp;&nbsp; 62546 |
| &nbsp;&nbsp;&nbsp; AMERISAFE, Inc. | 7624 | &nbsp;&nbsp; 248009 |
| &nbsp;&nbsp;&nbsp; Ategrity Specialty Holdings LLC† | 2401 | &nbsp;&nbsp; 53110 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group, Inc.† | 28119 | &nbsp;&nbsp; 653204 |
| &nbsp;&nbsp;&nbsp; Bowhead Specialty Holdings, Inc.† | 6916 | &nbsp;&nbsp; 175182 |
| &nbsp;&nbsp;&nbsp; Citizens, Inc.#† | 18387 | &nbsp;&nbsp; 99658 |
| &nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | 38508 | &nbsp;&nbsp; 1610019 |
| &nbsp;&nbsp;&nbsp; Crawford & Co., Class A | 6454 | &nbsp;&nbsp; 69445 |
| &nbsp;&nbsp;&nbsp; Donegal Group, Inc., Class A | 7377 | &nbsp;&nbsp; 129983 |
| &nbsp;&nbsp;&nbsp; eHealth, Inc.† | 11702 | &nbsp;&nbsp; 15213 |
| &nbsp;&nbsp;&nbsp; Employers Holdings, Inc. | 8011 | &nbsp;&nbsp; 331255 |
| &nbsp;&nbsp;&nbsp; Essent Group, Ltd. | 38146 | &nbsp;&nbsp; 2320803 |
| &nbsp;&nbsp;&nbsp; F&G Annuities & Life, Inc. | 14759 | &nbsp;&nbsp; 334291 |
| &nbsp;&nbsp;&nbsp; Fidelis Insurance Holdings, Ltd. | 22830 | &nbsp;&nbsp; 435140 |
| &nbsp;&nbsp;&nbsp; Genworth Financial, Inc.,† | 148096 | &nbsp;&nbsp; 1249930 |
| &nbsp;&nbsp;&nbsp; GoHealth, Inc., Class A#† | 1988 | &nbsp;&nbsp; 2724 |
| &nbsp;&nbsp;&nbsp; Goosehead Insurance, Inc., Class A† | 9340 | &nbsp;&nbsp; 506228 |
| &nbsp;&nbsp;&nbsp; Greenlight Capital Re, Ltd., Class A† | 9976 | &nbsp;&nbsp; 141559 |
| &nbsp;&nbsp;&nbsp; Hamilton Insurance Group, Ltd., Class B† | 17760 | &nbsp;&nbsp; 561038 |
| &nbsp;&nbsp;&nbsp; HCI Group, Inc. | 4411 | &nbsp;&nbsp; 778189 |
| &nbsp;&nbsp;&nbsp; Heritage Insurance Holdings, Inc.† | 10325 | &nbsp;&nbsp; 287758 |
| &nbsp;&nbsp;&nbsp; Hippo Holdings, Inc.† | 6892 | &nbsp;&nbsp; 198214 |
| &nbsp;&nbsp;&nbsp; Horace Mann Educators Corp. | 16063 | &nbsp;&nbsp; 698901 |
| &nbsp;&nbsp;&nbsp; Investors Title Co.# | 553 | &nbsp;&nbsp; 127688 |
| &nbsp;&nbsp;&nbsp; James River Group Holdings, Inc. | 14159 | &nbsp;&nbsp; 99113 |
| &nbsp;&nbsp;&nbsp; Kestrel Group, Ltd.† | 701 | &nbsp;&nbsp; 10788 |
| &nbsp;&nbsp;&nbsp; Kingstone Cos, Inc. | 4494 | &nbsp;&nbsp; 74061 |
| &nbsp;&nbsp;&nbsp; Kingsway Financial Services, Inc.#† | 8354 | &nbsp;&nbsp; 102253 |
| &nbsp;&nbsp;&nbsp; Lemonade, Inc.† | 24345 | &nbsp;&nbsp; 1259610 |
| &nbsp;&nbsp;&nbsp; MBIA, Inc.#† | 16922 | &nbsp;&nbsp; 110839 |
| &nbsp;&nbsp;&nbsp; Mercury General Corp. | 10894 | &nbsp;&nbsp; 986778 |
| &nbsp;&nbsp;&nbsp; NI Holdings, Inc.† | 2784 | &nbsp;&nbsp; 36972 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc.† | 31441 | &nbsp;&nbsp; 1235946 |
| &nbsp;&nbsp;&nbsp; Palomar Holdings, Inc.† | 10601 | &nbsp;&nbsp; 1311450 |
| &nbsp;&nbsp;&nbsp; ProAssurance Corp.† | 20122 | &nbsp;&nbsp; 493995 |
| &nbsp;&nbsp;&nbsp; Root, Inc., Class A#† | 4965 | &nbsp;&nbsp; 257584 |
| &nbsp;&nbsp;&nbsp; Safety Insurance Group, Inc. | 6131 | &nbsp;&nbsp; 475950 |
| &nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc. | 24456 | &nbsp;&nbsp; 2055282 |
| &nbsp;&nbsp;&nbsp; Selectquote, Inc.† | 55887 | &nbsp;&nbsp; 48068 |
| &nbsp;&nbsp;&nbsp; SiriusPoint, Ltd.† | 25413 | &nbsp;&nbsp; 537231 |
| &nbsp;&nbsp;&nbsp; Skyward Specialty Insurance Group, Inc.† | 14628 | &nbsp;&nbsp; 679763 |
| &nbsp;&nbsp;&nbsp; Slide Insurance Holdings, Inc.† | 10258 | &nbsp;&nbsp; 194902 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. | 11324 | &nbsp;&nbsp; 803891 |
| &nbsp;&nbsp;&nbsp; Tiptree, Inc. | 9091 | &nbsp;&nbsp; 154820 |
| &nbsp;&nbsp;&nbsp; Trupanion, Inc.† | 14738 | &nbsp;&nbsp; 391146 |
| &nbsp;&nbsp;&nbsp; United Fire Group, Inc. | 8319 | &nbsp;&nbsp; 323276 |
| &nbsp;&nbsp;&nbsp; Universal Insurance Holdings, Inc. | 10242 | &nbsp;&nbsp; 360211 |
|  |  | &nbsp;&nbsp; 23425107 |
| **Internet — 1.1%** | **Internet — 1.1%** | **Internet — 1.1%** |
| &nbsp;&nbsp;&nbsp; Bed Bath & Beyond, Inc. † | 29216 | &nbsp;&nbsp; 155721 |
| &nbsp;&nbsp;&nbsp; 1-800-Flowers.com, Inc., Class A† | 8909 | &nbsp;&nbsp; 31003 |
| &nbsp;&nbsp;&nbsp; Angi, Inc.† | 15121 | &nbsp;&nbsp; 117641 |
| &nbsp;&nbsp;&nbsp; AudioEye, Inc.#† | 2715 | &nbsp;&nbsp; 18516 |
| &nbsp;&nbsp;&nbsp; Backblaze, Inc., Class A† | 20417 | &nbsp;&nbsp; 76768 |
| &nbsp;&nbsp;&nbsp; BARK, Inc.† | 46240 | &nbsp;&nbsp; 36127 |
| &nbsp;&nbsp;&nbsp; Bumble, Inc., Class A#† | 28116 | &nbsp;&nbsp; 85473 |
| &nbsp;&nbsp;&nbsp; Cargurus, Inc.† | 33280 | &nbsp;&nbsp; 1021696 |
| &nbsp;&nbsp;&nbsp; Cars.com, Inc.#† | 20905 | &nbsp;&nbsp; 178529 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Holdings, Inc.# | 19308 | &nbsp;&nbsp; 362218 |
| &nbsp;&nbsp;&nbsp; Crexendo, Inc.† | 5881 | &nbsp;&nbsp; 34345 |
| &nbsp;&nbsp;&nbsp; Entravision Communications Corp., Class A | 25298 | &nbsp;&nbsp; 78424 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp; ePlus, Inc. | 10697 | &nbsp;&nbsp; $862820 |
| &nbsp;&nbsp;&nbsp; Eventbrite, Inc., Class A† | 31322 | &nbsp;&nbsp; 138443 |
| &nbsp;&nbsp;&nbsp; EverQuote, Inc., Class A† | 11764 | &nbsp;&nbsp; 185871 |
| &nbsp;&nbsp;&nbsp; Figs, Inc., Class A† | 36294 | &nbsp;&nbsp; 560742 |
| &nbsp;&nbsp;&nbsp; fuboTV, Inc., Class A#† | 131453 | &nbsp;&nbsp; 153800 |
| &nbsp;&nbsp;&nbsp; Gaia, Inc.† | 6928 | &nbsp;&nbsp; 23486 |
| &nbsp;&nbsp;&nbsp; Gambling.com Group, Ltd.#† | 10541 | &nbsp;&nbsp; 45959 |
| &nbsp;&nbsp;&nbsp; Getty Images Holdings, Inc.† | 44774 | &nbsp;&nbsp; 34834 |
| &nbsp;&nbsp;&nbsp; Grindr, Inc.† | 12335 | &nbsp;&nbsp; 140372 |
| &nbsp;&nbsp;&nbsp; Groupon, Inc.#† | 10457 | &nbsp;&nbsp; 131967 |
| &nbsp;&nbsp;&nbsp; HealthStream, Inc. | 9941 | &nbsp;&nbsp; 211048 |
| &nbsp;&nbsp;&nbsp; Hims & Hers Health, Inc.#† | 83192 | &nbsp;&nbsp; 1207948 |
| &nbsp;&nbsp;&nbsp; Lands' End, Inc.† | 3354 | &nbsp;&nbsp; 53899 |
| &nbsp;&nbsp;&nbsp; LifeMD, Inc.#† | 14010 | &nbsp;&nbsp; 37407 |
| &nbsp;&nbsp;&nbsp; Liquidity Services, Inc.† | 9761 | &nbsp;&nbsp; 308545 |
| &nbsp;&nbsp;&nbsp; Magnite, Inc.† | 57203 | &nbsp;&nbsp; 779105 |
| &nbsp;&nbsp;&nbsp; MediaAlpha, Inc., Class A† | 14909 | &nbsp;&nbsp; 148196 |
| &nbsp;&nbsp;&nbsp; Nerdy, Inc.#† | 23511 | &nbsp;&nbsp; 22684 |
| &nbsp;&nbsp;&nbsp; Newsmax, Inc.#† | 20523 | &nbsp;&nbsp; 122112 |
| &nbsp;&nbsp;&nbsp; Nextdoor Holdings, Inc.† | 93791 | &nbsp;&nbsp; 164134 |
| &nbsp;&nbsp;&nbsp; Open Lending Corp.† | 41686 | &nbsp;&nbsp; 55442 |
| &nbsp;&nbsp;&nbsp; OptimizeRx Corp.#† | 5838 | &nbsp;&nbsp; 44252 |
| &nbsp;&nbsp;&nbsp; Phoenix Education Partners, Inc. | 1803 | &nbsp;&nbsp; 53369 |
| &nbsp;&nbsp;&nbsp; Q2 Holdings, Inc.† | 25020 | &nbsp;&nbsp; 1203963 |
| &nbsp;&nbsp;&nbsp; QuinStreet, Inc.† | 21459 | &nbsp;&nbsp; 251500 |
| &nbsp;&nbsp;&nbsp; RealReal, Inc.† | 39632 | &nbsp;&nbsp; 485888 |
| &nbsp;&nbsp;&nbsp; Revolve Group, Inc.† | 15970 | &nbsp;&nbsp; 401805 |
| &nbsp;&nbsp;&nbsp; Rumble, Inc.#† | 45230 | &nbsp;&nbsp; 244694 |
| &nbsp;&nbsp;&nbsp; Serve Robotics, Inc.#† | 24645 | &nbsp;&nbsp; 246204 |
| &nbsp;&nbsp;&nbsp; Shutterstock, Inc. | 10429 | &nbsp;&nbsp; 175207 |
| &nbsp;&nbsp;&nbsp; Sprinklr, Inc., Class A† | 43674 | &nbsp;&nbsp; 254183 |
| &nbsp;&nbsp;&nbsp; Stitch Fix, Inc., Class A† | 45527 | &nbsp;&nbsp; 151605 |
| &nbsp;&nbsp;&nbsp; Travelzoo#† | 2583 | &nbsp;&nbsp; 16660 |
| &nbsp;&nbsp;&nbsp; TripAdvisor, Inc.#† | 45086 | &nbsp;&nbsp; 455820 |
| &nbsp;&nbsp;&nbsp; Tucows, Inc., Class A† | 2740 | &nbsp;&nbsp; 49758 |
| &nbsp;&nbsp;&nbsp; Upwork, Inc.#† | 50345 | &nbsp;&nbsp; 675630 |
| &nbsp;&nbsp;&nbsp; Vivid Seats, Inc.† | 1409 | &nbsp;&nbsp; 8398 |
| &nbsp;&nbsp;&nbsp; Yelp, Inc.† | 23855 | &nbsp;&nbsp; 531728 |
| &nbsp;&nbsp;&nbsp; Ziff Davis, Inc.#† | 16042 | &nbsp;&nbsp; 434417 |
| &nbsp;&nbsp;&nbsp; ZipRecruiter, Inc., Class A† | 25898 | &nbsp;&nbsp; 46875 |
|  |  | &nbsp;&nbsp; 13317231 |
| **Investment Companies — 1.3%** | **Investment Companies — 1.3%** | **Investment Companies — 1.3%** |
| &nbsp;&nbsp;&nbsp; Bit Digital, Inc.#† | 122058 | &nbsp;&nbsp; 203837 |
| &nbsp;&nbsp;&nbsp; Bitdeer Technologies Group, Class A#† | 38840 | &nbsp;&nbsp; 299068 |
| &nbsp;&nbsp;&nbsp; Cannae Holdings, Inc. | 18816 | &nbsp;&nbsp; 229555 |
| &nbsp;&nbsp;&nbsp; Cipher Mining, Inc.† | 130830 | &nbsp;&nbsp; 2040948 |
| &nbsp;&nbsp;&nbsp; Cleanspark, Inc.#† | 111892 | &nbsp;&nbsp; 1113325 |
| &nbsp;&nbsp;&nbsp; Compass Diversified Holdings | 25731 | &nbsp;&nbsp; 192725 |
| &nbsp;&nbsp;&nbsp; Core Scientific, Inc.#† | 116706 | &nbsp;&nbsp; 1980501 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. | 49195 | &nbsp;&nbsp; 1796601 |
| &nbsp;&nbsp;&nbsp; Hut 8 Corp.† | 38582 | &nbsp;&nbsp; 2053720 |
| &nbsp;&nbsp;&nbsp; Innventure, Inc.#† | 10244 | &nbsp;&nbsp; 29093 |
| &nbsp;&nbsp;&nbsp; MARA Holdings, Inc.#† | 149606 | &nbsp;&nbsp; 1337478 |
| &nbsp;&nbsp;&nbsp; Riot Platforms, Inc.† | 140402 | &nbsp;&nbsp; 2287149 |
| &nbsp;&nbsp;&nbsp; Terawulf, Inc.#† | 121974 | &nbsp;&nbsp; 1978418 |
|  |  | &nbsp;&nbsp; 15542418 |
| **Iron/Steel — 0.3%** | **Iron/Steel — 0.3%** | **Iron/Steel — 0.3%** |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | 44780 | &nbsp;&nbsp; 3282374 |
| &nbsp;&nbsp;&nbsp; Friedman Industries, Inc. | 2704 | &nbsp;&nbsp; 50321 |
|  |  | &nbsp;&nbsp; 3332695 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Leisure Time — 0.8%** | **Leisure Time — 0.8%** | **Leisure Time — 0.8%** |
| &nbsp;&nbsp;&nbsp; Callaway Golf Co † | 53784 | &nbsp;&nbsp; $756203 |
| &nbsp;&nbsp;&nbsp; Acushnet Holdings Corp. | 11126 | &nbsp;&nbsp; 1138524 |
| &nbsp;&nbsp;&nbsp; American Outdoor Brands, Inc.#† | 4996 | &nbsp;&nbsp; 45464 |
| &nbsp;&nbsp;&nbsp; Clarus Corp. | 11627 | &nbsp;&nbsp; 36741 |
| &nbsp;&nbsp;&nbsp; Escalade, Inc. | 4112 | &nbsp;&nbsp; 59213 |
| &nbsp;&nbsp;&nbsp; Global Business Travel Group I#† | 51450 | &nbsp;&nbsp; 281431 |
| &nbsp;&nbsp;&nbsp; Johnson Outdoors, Inc., Class A | 2383 | &nbsp;&nbsp; 115552 |
| &nbsp;&nbsp;&nbsp; Life Time Group Holdings, Inc.† | 60768 | &nbsp;&nbsp; 1640736 |
| &nbsp;&nbsp;&nbsp; Lindblad Expeditions Holdings, Inc.† | 15698 | &nbsp;&nbsp; 309408 |
| &nbsp;&nbsp;&nbsp; Livewire Group, Inc.#† | 14936 | &nbsp;&nbsp; 25092 |
| &nbsp;&nbsp;&nbsp; Malibu Boats, Inc., Class A† | 7453 | &nbsp;&nbsp; 216584 |
| &nbsp;&nbsp;&nbsp; Marine Products Corp.# | 3326 | &nbsp;&nbsp; 25244 |
| &nbsp;&nbsp;&nbsp; MasterCraft Boat Holdings, Inc.† | 6117 | &nbsp;&nbsp; 132769 |
| &nbsp;&nbsp;&nbsp; OneSpaWorld Holdings, Ltd. | 39373 | &nbsp;&nbsp; 847701 |
| &nbsp;&nbsp;&nbsp; Patrick Industries, Inc.# | 12994 | &nbsp;&nbsp; 1608527 |
| &nbsp;&nbsp;&nbsp; Peloton Interactive, Inc., Class A† | 161727 | &nbsp;&nbsp; 650143 |
| &nbsp;&nbsp;&nbsp; Polaris, Inc. | 21438 | &nbsp;&nbsp; 1302144 |
| &nbsp;&nbsp;&nbsp; Sabre Corp.#† | 140054 | &nbsp;&nbsp; 165264 |
| &nbsp;&nbsp;&nbsp; Xponential Fitness, Inc., Class A#† | 11144 | &nbsp;&nbsp; 47473 |
|  |  | &nbsp;&nbsp; 9404213 |
| **Lodging — 0.1%** | **Lodging — 0.1%** | **Lodging — 0.1%** |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations, Inc.† | 24485 | &nbsp;&nbsp; 1100845 |
| &nbsp;&nbsp;&nbsp; Marcus Corp. | 9084 | &nbsp;&nbsp; 152884 |
|  |  | &nbsp;&nbsp; 1253729 |
| **Machinery-Construction & Mining — 1.5%** | **Machinery-Construction & Mining — 1.5%** | **Machinery-Construction & Mining — 1.5%** |
| &nbsp;&nbsp;&nbsp; Astec Industries, Inc. | 9081 | &nbsp;&nbsp; 563839 |
| &nbsp;&nbsp;&nbsp; Bloom Energy Corp., Class A† | 87918 | &nbsp;&nbsp; 13686195 |
| &nbsp;&nbsp;&nbsp; Hyster-Yale, Inc. | 4522 | &nbsp;&nbsp; 166545 |
| &nbsp;&nbsp;&nbsp; Lightbridge Corp.† | 11405 | &nbsp;&nbsp; 147467 |
| &nbsp;&nbsp;&nbsp; Manitowoc Co., Inc.† | 13829 | &nbsp;&nbsp; 203978 |
| &nbsp;&nbsp;&nbsp; NANO Nuclear Energy, Inc.#† | 15773 | &nbsp;&nbsp; 419404 |
| &nbsp;&nbsp;&nbsp; Net Power, Inc.† | 13807 | &nbsp;&nbsp; 26647 |
| &nbsp;&nbsp;&nbsp; NuScale Power Corp.† | 51647 | &nbsp;&nbsp; 663664 |
| &nbsp;&nbsp;&nbsp; Terex Corp. | 45068 | &nbsp;&nbsp; 3100228 |
|  |  | &nbsp;&nbsp; 18977967 |
| **Machinery-Diversified — 1.9%** | **Machinery-Diversified — 1.9%** | **Machinery-Diversified — 1.9%** |
| &nbsp;&nbsp;&nbsp; Aebi Schmidt Holding AG | 14513 | &nbsp;&nbsp; 209277 |
| &nbsp;&nbsp;&nbsp; Alamo Group, Inc. | 4194 | &nbsp;&nbsp; 895545 |
| &nbsp;&nbsp;&nbsp; Albany International Corp., Class A | 12050 | &nbsp;&nbsp; 694683 |
| &nbsp;&nbsp;&nbsp; Cactus, Inc., Class A | 27562 | &nbsp;&nbsp; 1488348 |
| &nbsp;&nbsp;&nbsp; Chart Industries, Inc.† | 18190 | &nbsp;&nbsp; 3770787 |
| &nbsp;&nbsp;&nbsp; Columbus McKinnon Corp. | 10837 | &nbsp;&nbsp; 205686 |
| &nbsp;&nbsp;&nbsp; CSW Industrials, Inc. | 6552 | &nbsp;&nbsp; 1928450 |
| &nbsp;&nbsp;&nbsp; DXP Enterprises, Inc.† | 5293 | &nbsp;&nbsp; 732922 |
| &nbsp;&nbsp;&nbsp; Eastman Kodak Co.† | 20999 | &nbsp;&nbsp; 153713 |
| &nbsp;&nbsp;&nbsp; Gencor Industries, Inc.† | 4207 | &nbsp;&nbsp; 65713 |
| &nbsp;&nbsp;&nbsp; Gorman-Rupp Co. | 8403 | &nbsp;&nbsp; 539725 |
| &nbsp;&nbsp;&nbsp; Ichor Holdings, Ltd.† | 13917 | &nbsp;&nbsp; 661753 |
| &nbsp;&nbsp;&nbsp; Kadant, Inc. | 4738 | &nbsp;&nbsp; 1606988 |
| &nbsp;&nbsp;&nbsp; Lindsay Corp. | 4295 | &nbsp;&nbsp; 578537 |
| &nbsp;&nbsp;&nbsp; Mueller Water Products, Inc., Class A | 62380 | &nbsp;&nbsp; 1867033 |
| &nbsp;&nbsp;&nbsp; Palladyne AI Corp.#† | 13011 | &nbsp;&nbsp; 91467 |
| &nbsp;&nbsp;&nbsp; Power Solutions International, Inc.#† | 3524 | &nbsp;&nbsp; 294254 |
| &nbsp;&nbsp;&nbsp; Pro-Dex, Inc.#† | 860 | &nbsp;&nbsp; 38107 |
| &nbsp;&nbsp;&nbsp; Richtech Robotics, Inc., Class B#† | 61506 | &nbsp;&nbsp; 153150 |
| &nbsp;&nbsp;&nbsp; Tennant Co. | 7333 | &nbsp;&nbsp; 447533 |
| &nbsp;&nbsp;&nbsp; Thermon Group Holdings, Inc.† | 12994 | &nbsp;&nbsp; 659835 |
| &nbsp;&nbsp;&nbsp; Watts Water Technologies, Inc., Class A | 11045 | &nbsp;&nbsp; 3630933 |
| &nbsp;&nbsp;&nbsp; Zurn Elkay Water Solutions Corp. | 60449 | &nbsp;&nbsp; 3081690 |
|  |  | &nbsp;&nbsp; 23796129 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| &nbsp;&nbsp;&nbsp; Optimum Communications, Inc., Class A#† | 104752 | &nbsp;&nbsp; $150843 |
| &nbsp;&nbsp;&nbsp; USA TODAY Co., Inc.#† | 58666 | &nbsp;&nbsp; 349063 |
| &nbsp;&nbsp;&nbsp; AMC Networks, Inc., Class A#† | 13944 | &nbsp;&nbsp; 113923 |
| &nbsp;&nbsp;&nbsp; Cable One, Inc. | 2133 | &nbsp;&nbsp; 204661 |
| &nbsp;&nbsp;&nbsp; CuriosityStream, Inc. | 19918 | &nbsp;&nbsp; 67323 |
| &nbsp;&nbsp;&nbsp; E.W. Scripps Co., Class A† | 25562 | &nbsp;&nbsp; 106082 |
| &nbsp;&nbsp;&nbsp; Gray Media, Inc. | 34127 | &nbsp;&nbsp; 177119 |
| &nbsp;&nbsp;&nbsp; iHeartMedia, Inc., Class A† | 47020 | &nbsp;&nbsp; 153755 |
| &nbsp;&nbsp;&nbsp; Liberty Latin America, Ltd., Class A† | 11218 | &nbsp;&nbsp; 87949 |
| &nbsp;&nbsp;&nbsp; Liberty Latin America, Ltd., Class C† | 50229 | &nbsp;&nbsp; 398818 |
| &nbsp;&nbsp;&nbsp; Scholastic Corp.# | 8247 | &nbsp;&nbsp; 286748 |
| &nbsp;&nbsp;&nbsp; Sinclair, Inc. | 15034 | &nbsp;&nbsp; 245656 |
| &nbsp;&nbsp;&nbsp; Sphere Entertainment Co.† | 11177 | &nbsp;&nbsp; 1330175 |
| &nbsp;&nbsp;&nbsp; TEGNA, Inc. | 64675 | &nbsp;&nbsp; 1354941 |
| &nbsp;&nbsp;&nbsp; Thryv Holdings, Inc.† | 14304 | &nbsp;&nbsp; 33185 |
| &nbsp;&nbsp;&nbsp; Value Line, Inc. | 320 | &nbsp;&nbsp; 11757 |
|  |  | &nbsp;&nbsp; 5071998 |
| **Metal Fabricate/Hardware — 0.6%** | **Metal Fabricate/Hardware — 0.6%** | **Metal Fabricate/Hardware — 0.6%** |
| &nbsp;&nbsp;&nbsp; Ascent Industries Co.† | 3235 | &nbsp;&nbsp; 55513 |
| &nbsp;&nbsp;&nbsp; Eastern Co. | 2337 | &nbsp;&nbsp; 43398 |
| &nbsp;&nbsp;&nbsp; Helios Technologies, Inc. | 13409 | &nbsp;&nbsp; 956330 |
| &nbsp;&nbsp;&nbsp; Hillman Solutions Corp.† | 80892 | &nbsp;&nbsp; 663314 |
| &nbsp;&nbsp;&nbsp; Janus International Group, Inc.† | 53430 | &nbsp;&nbsp; 371873 |
| &nbsp;&nbsp;&nbsp; L.B. Foster Co., Class A† | 4233 | &nbsp;&nbsp; 130080 |
| &nbsp;&nbsp;&nbsp; Mayville Engineering Co., Inc.#† | 5952 | &nbsp;&nbsp; 124992 |
| &nbsp;&nbsp;&nbsp; Metallus, Inc.† | 14460 | &nbsp;&nbsp; 245820 |
| &nbsp;&nbsp;&nbsp; Omega Flex, Inc. | 1449 | &nbsp;&nbsp; 52063 |
| &nbsp;&nbsp;&nbsp; Park-Ohio Holdings Corp. | 3908 | &nbsp;&nbsp; 100592 |
| &nbsp;&nbsp;&nbsp; Proto Labs, Inc.† | 9756 | &nbsp;&nbsp; 605653 |
| &nbsp;&nbsp;&nbsp; Ryerson Holding Corp. | 17346 | &nbsp;&nbsp; 453771 |
| &nbsp;&nbsp;&nbsp; Standex International Corp. | 4836 | &nbsp;&nbsp; 1267032 |
| &nbsp;&nbsp;&nbsp; Tredegar Corp.† | 10152 | &nbsp;&nbsp; 93195 |
| &nbsp;&nbsp;&nbsp; Worthington Enterprises, Inc. | 12835 | &nbsp;&nbsp; 718888 |
| &nbsp;&nbsp;&nbsp; Worthington Steel, Inc. | 13166 | &nbsp;&nbsp; 547179 |
| &nbsp;&nbsp;&nbsp; Xometry, Inc., Class A#† | 17552 | &nbsp;&nbsp; 719895 |
|  |  | &nbsp;&nbsp; 7149588 |
| **Mining — 2.7%** | **Mining — 2.7%** | **Mining — 2.7%** |
| &nbsp;&nbsp;&nbsp; American Battery Technology Co.† | 47749 | &nbsp;&nbsp; 176194 |
| &nbsp;&nbsp;&nbsp; Caledonia Mining Corp. PLC | 6521 | &nbsp;&nbsp; 206977 |
| &nbsp;&nbsp;&nbsp; Centrus Energy Corp., Class A#† | 6724 | &nbsp;&nbsp; 1362215 |
| &nbsp;&nbsp;&nbsp; Century Aluminum Co.† | 21286 | &nbsp;&nbsp; 1097506 |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc.† | 257498 | &nbsp;&nbsp; 6991071 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc.† | 13632 | &nbsp;&nbsp; 343526 |
| &nbsp;&nbsp;&nbsp; Constellium SE† | 55169 | &nbsp;&nbsp; 1373156 |
| &nbsp;&nbsp;&nbsp; Contango ORE, Inc.† | 4259 | &nbsp;&nbsp; 128068 |
| &nbsp;&nbsp;&nbsp; Critical Metals Corp.#† | 18583 | &nbsp;&nbsp; 188618 |
| &nbsp;&nbsp;&nbsp; Dakota Gold Corp.† | 36346 | &nbsp;&nbsp; 252968 |
| &nbsp;&nbsp;&nbsp; Encore Energy Corp.#† | 71400 | &nbsp;&nbsp; 192780 |
| &nbsp;&nbsp;&nbsp; Energy Fuels, Inc.† | 92132 | &nbsp;&nbsp; 1964254 |
| &nbsp;&nbsp;&nbsp; Ferroglobe PLC | 46256 | &nbsp;&nbsp; 236368 |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. | 255637 | &nbsp;&nbsp; 6367918 |
| &nbsp;&nbsp;&nbsp; Idaho Strategic Resources, Inc.† | 5955 | &nbsp;&nbsp; 256482 |
| &nbsp;&nbsp;&nbsp; Ivanhoe Electric, Inc.† | 43606 | &nbsp;&nbsp; 749587 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp. | 6533 | &nbsp;&nbsp; 850205 |
| &nbsp;&nbsp;&nbsp; Lifezone Metals, Ltd.#† | 11299 | &nbsp;&nbsp; 52540 |
| &nbsp;&nbsp;&nbsp; NioCorp Developments, Ltd.† | 42911 | &nbsp;&nbsp; 227428 |
| &nbsp;&nbsp;&nbsp; Novagold Resources, Inc.† | 121818 | &nbsp;&nbsp; 1622616 |
| &nbsp;&nbsp;&nbsp; Perpetua Resources Corp.† | 34317 | &nbsp;&nbsp; 1264925 |
| &nbsp;&nbsp;&nbsp; SSR Mining, Inc.† | 81883 | &nbsp;&nbsp; 2635814 |
| &nbsp;&nbsp;&nbsp; United States Antimony Corp.#† | 47281 | &nbsp;&nbsp; 422692 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp; United States Lime & Minerals, Inc. | 4498 | &nbsp;&nbsp; $513492 |
| &nbsp;&nbsp;&nbsp; Uranium Energy Corp.† | 191924 | &nbsp;&nbsp; 2942195 |
| &nbsp;&nbsp;&nbsp; US Gold Corp.#† | 4836 | &nbsp;&nbsp; 104941 |
| &nbsp;&nbsp;&nbsp; US Goldmining, Inc.† | 1110 | &nbsp;&nbsp; 13370 |
| &nbsp;&nbsp;&nbsp; USA Rare Earth, Inc.† | 34956 | &nbsp;&nbsp; 660668 |
| &nbsp;&nbsp;&nbsp; Vox Royalty Corp. | 22286 | &nbsp;&nbsp; 143299 |
|  |  | &nbsp;&nbsp; 33341873 |
| **Miscellaneous Manufacturing — 1.7%** | **Miscellaneous Manufacturing — 1.7%** | **Miscellaneous Manufacturing — 1.7%** |
| &nbsp;&nbsp;&nbsp; Avient Corp. | 36964 | &nbsp;&nbsp; 1518111 |
| &nbsp;&nbsp;&nbsp; Byrna Technologies, Inc.#† | 6888 | &nbsp;&nbsp; 88029 |
| &nbsp;&nbsp;&nbsp; Core Molding Technologies, Inc.† | 3448 | &nbsp;&nbsp; 62926 |
| &nbsp;&nbsp;&nbsp; Enpro, Inc. | 8500 | &nbsp;&nbsp; 2198525 |
| &nbsp;&nbsp;&nbsp; Fabrinet† | 14528 | &nbsp;&nbsp; 7926913 |
| &nbsp;&nbsp;&nbsp; Federal Signal Corp. | 24156 | &nbsp;&nbsp; 2812483 |
| &nbsp;&nbsp;&nbsp; JBT Marel Corp. | 21007 | &nbsp;&nbsp; 3235078 |
| &nbsp;&nbsp;&nbsp; LSB Industries, Inc.† | 21472 | &nbsp;&nbsp; 249505 |
| &nbsp;&nbsp;&nbsp; Materion Corp. | 8320 | &nbsp;&nbsp; 1356659 |
| &nbsp;&nbsp;&nbsp; Myers Industries, Inc. | 15469 | &nbsp;&nbsp; 346042 |
| &nbsp;&nbsp;&nbsp; NL Industries, Inc. | 3425 | &nbsp;&nbsp; 21166 |
| &nbsp;&nbsp;&nbsp; Outdoor Holding Co.#† | 35756 | &nbsp;&nbsp; 76160 |
| &nbsp;&nbsp;&nbsp; Park Aerospace Corp. | 7832 | &nbsp;&nbsp; 206921 |
| &nbsp;&nbsp;&nbsp; Sight Sciences, Inc.† | 16674 | &nbsp;&nbsp; 86038 |
| &nbsp;&nbsp;&nbsp; Smith & Wesson Brands, Inc. | 18667 | &nbsp;&nbsp; 222137 |
| &nbsp;&nbsp;&nbsp; Sturm Ruger & Co., Inc. | 5806 | &nbsp;&nbsp; 217377 |
| &nbsp;&nbsp;&nbsp; Trinity Industries, Inc. | 32416 | &nbsp;&nbsp; 1107979 |
|  |  | &nbsp;&nbsp; 21732049 |
| **Multi-National — 0.0%** | **Multi-National — 0.0%** | **Multi-National — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banco Latinoamericano de Comercio Exterior SA, <br> Class E<br>| 11152 | &nbsp;&nbsp; 557935 |
| **Office Furnishings — 0.2%** | **Office Furnishings — 0.2%** | **Office Furnishings — 0.2%** |
| &nbsp;&nbsp;&nbsp; CompX International, Inc. | 626 | &nbsp;&nbsp; 14711 |
| &nbsp;&nbsp;&nbsp; HNI Corp. | 25607 | &nbsp;&nbsp; 1151291 |
| &nbsp;&nbsp;&nbsp; Interface, Inc. | 23604 | &nbsp;&nbsp; 743290 |
| &nbsp;&nbsp;&nbsp; Virco Mfg. Corp.# | 4479 | &nbsp;&nbsp; 28441 |
|  |  | &nbsp;&nbsp; 1937733 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Xerox Holdings Corp.# | 46560 | &nbsp;&nbsp; 83808 |
| **Oil & Gas — 2.6%** | **Oil & Gas — 2.6%** | **Oil & Gas — 2.6%** |
| &nbsp;&nbsp;&nbsp; BKV Corp.† | 9221 | &nbsp;&nbsp; 288894 |
| &nbsp;&nbsp;&nbsp; Borr Drilling, Ltd.# | 105337 | &nbsp;&nbsp; 645716 |
| &nbsp;&nbsp;&nbsp; California Resources Corp. | 29462 | &nbsp;&nbsp; 1733544 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp.† | 52459 | &nbsp;&nbsp; 2191737 |
| &nbsp;&nbsp;&nbsp; Comstock Resources, Inc.#† | 29191 | &nbsp;&nbsp; 572436 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Co., Class A | 95212 | &nbsp;&nbsp; 1110172 |
| &nbsp;&nbsp;&nbsp; CVR Energy, Inc.† | 12626 | &nbsp;&nbsp; 305044 |
| &nbsp;&nbsp;&nbsp; Delek US Holdings, Inc. | 24251 | &nbsp;&nbsp; 924206 |
| &nbsp;&nbsp;&nbsp; Diversified Energy Co. | 25187 | &nbsp;&nbsp; 346573 |
| &nbsp;&nbsp;&nbsp; DLB Oil & Gas, Inc.(1) | 3000 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Empire Petroleum Corp.† | 5961 | &nbsp;&nbsp; 19671 |
| &nbsp;&nbsp;&nbsp; Epsilon Energy, Ltd. | 6027 | &nbsp;&nbsp; 30858 |
| &nbsp;&nbsp;&nbsp; Evolution Petroleum Corp.# | 15786 | &nbsp;&nbsp; 70563 |
| &nbsp;&nbsp;&nbsp; Granite Ridge Resources, Inc. | 20117 | &nbsp;&nbsp; 101792 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp.† | 6402 | &nbsp;&nbsp; 1335841 |
| &nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc. | 38868 | &nbsp;&nbsp; 1368931 |
| &nbsp;&nbsp;&nbsp; HighPeak Energy, Inc.# | 7437 | &nbsp;&nbsp; 38747 |
| &nbsp;&nbsp;&nbsp; Infinity Natural Resources, Inc., Class A† | 6811 | &nbsp;&nbsp; 113063 |
| &nbsp;&nbsp;&nbsp; Kolibri Global Energy, Inc.† | 10561 | &nbsp;&nbsp; 40343 |
| &nbsp;&nbsp;&nbsp; Kosmos Energy, Ltd.† | 191552 | &nbsp;&nbsp; 446316 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp., Class A | 72781 | &nbsp;&nbsp; 2024767 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. | 54058 | &nbsp;&nbsp; 1792023 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp; Nabors Industries, Ltd.#† | 5793 | &nbsp;&nbsp; $452549 |
| &nbsp;&nbsp;&nbsp; NextNRG, Inc.#† | 7126 | &nbsp;&nbsp; 4697 |
| &nbsp;&nbsp;&nbsp; Noble Corp. PLC# | 50783 | &nbsp;&nbsp; 2307072 |
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas, Inc. | 38675 | &nbsp;&nbsp; 1067043 |
| &nbsp;&nbsp;&nbsp; Par Pacific Holdings, Inc.† | 20257 | &nbsp;&nbsp; 864366 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | 139682 | &nbsp;&nbsp; 1188694 |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc., Class A | 33766 | &nbsp;&nbsp; 1202070 |
| &nbsp;&nbsp;&nbsp; Prairie Operating Co.#† | 8783 | &nbsp;&nbsp; 15546 |
| &nbsp;&nbsp;&nbsp; PrimeEnergy Resources Corp.#† | 197 | &nbsp;&nbsp; 39183 |
| &nbsp;&nbsp;&nbsp; Riley Exploration Permian, Inc. | 5815 | &nbsp;&nbsp; 167705 |
| &nbsp;&nbsp;&nbsp; Sable Offshore Corp.† | 31625 | &nbsp;&nbsp; 260906 |
| &nbsp;&nbsp;&nbsp; SandRidge Energy, Inc. | 13757 | &nbsp;&nbsp; 241160 |
| &nbsp;&nbsp;&nbsp; Seadrill, Ltd.† | 25311 | &nbsp;&nbsp; 1110647 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. | 99235 | &nbsp;&nbsp; 2295306 |
| &nbsp;&nbsp;&nbsp; Talos Energy, Inc.† | 53261 | &nbsp;&nbsp; 652447 |
| &nbsp;&nbsp;&nbsp; Transocean, Ltd.† | 373567 | &nbsp;&nbsp; 2420714 |
| &nbsp;&nbsp;&nbsp; VAALCO Energy, Inc.# | 44160 | &nbsp;&nbsp; 227424 |
| &nbsp;&nbsp;&nbsp; Valaris, Ltd.† | 25095 | &nbsp;&nbsp; 2405356 |
| &nbsp;&nbsp;&nbsp; Vitesse Energy, Inc.# | 11951 | &nbsp;&nbsp; 230774 |
| &nbsp;&nbsp;&nbsp; W&T Offshore, Inc. | 40366 | &nbsp;&nbsp; 106970 |
|  |  | &nbsp;&nbsp; 32761866 |
| **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** | **Oil & Gas Services — 1.4%** |
| &nbsp;&nbsp;&nbsp; Archrock, Inc. | 69478 | &nbsp;&nbsp; 2454658 |
| &nbsp;&nbsp;&nbsp; Atlas Energy Solutions, Inc.# | 31639 | &nbsp;&nbsp; 304684 |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc.† | 11741 | &nbsp;&nbsp; 560046 |
| &nbsp;&nbsp;&nbsp; Core Laboratories, Inc.# | 19536 | &nbsp;&nbsp; 343638 |
| &nbsp;&nbsp;&nbsp; DMC Global, Inc.† | 7917 | &nbsp;&nbsp; 46631 |
| &nbsp;&nbsp;&nbsp; DNOW, Inc.† | 74757 | &nbsp;&nbsp; 880637 |
| &nbsp;&nbsp;&nbsp; Expro Group Holdings NV† | 35725 | &nbsp;&nbsp; 638048 |
| &nbsp;&nbsp;&nbsp; Flotek Industries, Inc.#† | 5794 | &nbsp;&nbsp; 88938 |
| &nbsp;&nbsp;&nbsp; Flowco Holdings, Inc., Class A | 8612 | &nbsp;&nbsp; 194287 |
| &nbsp;&nbsp;&nbsp; Forum Energy Technologies, Inc.† | 4389 | &nbsp;&nbsp; 254694 |
| &nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc.† | 56603 | &nbsp;&nbsp; 520181 |
| &nbsp;&nbsp;&nbsp; Innovex International, Inc.† | 15302 | &nbsp;&nbsp; 403208 |
| &nbsp;&nbsp;&nbsp; Kodiak Gas Services, Inc. | 33980 | &nbsp;&nbsp; 1854289 |
| &nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 63215 | &nbsp;&nbsp; 1775709 |
| &nbsp;&nbsp;&nbsp; Mammoth Energy Services, Inc.† | 9864 | &nbsp;&nbsp; 22786 |
| &nbsp;&nbsp;&nbsp; Matrix Service Co.† | 10138 | &nbsp;&nbsp; 111417 |
| &nbsp;&nbsp;&nbsp; National Energy Services Reunited Corp.† | 24379 | &nbsp;&nbsp; 610694 |
| &nbsp;&nbsp;&nbsp; Natural Gas Services Group, Inc. | 4141 | &nbsp;&nbsp; 158435 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc.† | 39740 | &nbsp;&nbsp; 1410770 |
| &nbsp;&nbsp;&nbsp; Oil States International, Inc.† | 23200 | &nbsp;&nbsp; 303688 |
| &nbsp;&nbsp;&nbsp; ProFrac Holding Corp., Class A† | 10793 | &nbsp;&nbsp; 53425 |
| &nbsp;&nbsp;&nbsp; ProPetro Holding Corp.† | 32931 | &nbsp;&nbsp; 399453 |
| &nbsp;&nbsp;&nbsp; Ranger Energy Services, Inc., Class A | 8625 | &nbsp;&nbsp; 150247 |
| &nbsp;&nbsp;&nbsp; RPC, Inc. | 38249 | &nbsp;&nbsp; 222227 |
| &nbsp;&nbsp;&nbsp; SEACOR Marine Holdings, Inc.#† | 8354 | &nbsp;&nbsp; 63992 |
| &nbsp;&nbsp;&nbsp; Select Water Solutions, Inc. | 39030 | &nbsp;&nbsp; 533540 |
| &nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure, Inc. | 17172 | &nbsp;&nbsp; 852246 |
| &nbsp;&nbsp;&nbsp; TETRA Technologies, Inc.† | 50047 | &nbsp;&nbsp; 433407 |
| &nbsp;&nbsp;&nbsp; Tidewater, Inc.† | 19782 | &nbsp;&nbsp; 1571086 |
|  |  | &nbsp;&nbsp; 17217061 |
| **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging SA | 54474 | &nbsp;&nbsp; 264199 |
| &nbsp;&nbsp;&nbsp; Clearwater Paper Corp.† | 6247 | &nbsp;&nbsp; 93642 |
| &nbsp;&nbsp;&nbsp; Greif, Inc., Class A | 10319 | &nbsp;&nbsp; 749882 |
| &nbsp;&nbsp;&nbsp; Greif, Inc., Class B# | 2088 | &nbsp;&nbsp; 182449 |
| &nbsp;&nbsp;&nbsp; Karat Packaging, Inc. | 3215 | &nbsp;&nbsp; 79250 |
| &nbsp;&nbsp;&nbsp; O-I Glass, Inc.† | 62217 | &nbsp;&nbsp; 833708 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| &nbsp;&nbsp;&nbsp; Ranpak Holdings Corp.#† | 19096 | &nbsp;&nbsp; $97771 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. | 12872 | &nbsp;&nbsp; 503038 |
|  |  | &nbsp;&nbsp; 2803939 |
| **Pharmaceuticals — 2.6%** | **Pharmaceuticals — 2.6%** | **Pharmaceuticals — 2.6%** |
| &nbsp;&nbsp;&nbsp; Accendra Health, Inc.† | 30041 | &nbsp;&nbsp; 72699 |
| &nbsp;&nbsp;&nbsp; Aclaris Therapeutics, Inc.† | 35615 | &nbsp;&nbsp; 102215 |
| &nbsp;&nbsp;&nbsp; Actuate Therapeutics, Inc.#† | 5490 | &nbsp;&nbsp; 20533 |
| &nbsp;&nbsp;&nbsp; AdaptHealth Corp.† | 41216 | &nbsp;&nbsp; 377126 |
| &nbsp;&nbsp;&nbsp; Aduro Biotech Holding, Inc. CVR†(1) | 6346 | &nbsp;&nbsp; 3236 |
| &nbsp;&nbsp;&nbsp; Agios Pharmaceuticals, Inc.† | 23118 | &nbsp;&nbsp; 698857 |
| &nbsp;&nbsp;&nbsp; Akebia Therapeutics, Inc.† | 95337 | &nbsp;&nbsp; 124891 |
| &nbsp;&nbsp;&nbsp; Alkermes PLC† | 65389 | &nbsp;&nbsp; 1968209 |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, Inc.† | 60978 | &nbsp;&nbsp; 842106 |
| &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc.† | 14739 | &nbsp;&nbsp; 298170 |
| &nbsp;&nbsp;&nbsp; Amylyx Pharmaceuticals, Inc.† | 34949 | &nbsp;&nbsp; 530176 |
| &nbsp;&nbsp;&nbsp; Anika Therapeutics, Inc.† | 5068 | &nbsp;&nbsp; 72777 |
| &nbsp;&nbsp;&nbsp; Aquestive Therapeutics, Inc.#† | 45406 | &nbsp;&nbsp; 181624 |
| &nbsp;&nbsp;&nbsp; Arvinas, Inc.† | 26537 | &nbsp;&nbsp; 352146 |
| &nbsp;&nbsp;&nbsp; Atrium Therapeutics, Inc.† | 4652 | &nbsp;&nbsp; 68617 |
| &nbsp;&nbsp;&nbsp; aTyr Pharma, Inc.† | 33620 | &nbsp;&nbsp; 32269 |
| &nbsp;&nbsp;&nbsp; Candel Therapeutics, Inc.#† | 16409 | &nbsp;&nbsp; 86147 |
| &nbsp;&nbsp;&nbsp; Catalyst Pharmaceuticals, Inc.† | 46621 | &nbsp;&nbsp; 1076013 |
| &nbsp;&nbsp;&nbsp; Coherus Oncology, Inc.#† | 42500 | &nbsp;&nbsp; 70975 |
| &nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc.#† | 12424 | &nbsp;&nbsp; 517708 |
| &nbsp;&nbsp;&nbsp; CorMedix, Inc.† | 31191 | &nbsp;&nbsp; 222392 |
| &nbsp;&nbsp;&nbsp; Corvus Pharmaceuticals, Inc.† | 22672 | &nbsp;&nbsp; 413991 |
| &nbsp;&nbsp;&nbsp; Enanta Pharmaceuticals, Inc.† | 11906 | &nbsp;&nbsp; 170256 |
| &nbsp;&nbsp;&nbsp; Enliven Therapeutics, Inc.#† | 15504 | &nbsp;&nbsp; 460314 |
| &nbsp;&nbsp;&nbsp; Eton Pharmaceuticals, Inc.#† | 11085 | &nbsp;&nbsp; 188334 |
| &nbsp;&nbsp;&nbsp; Fennec Pharmaceuticals, Inc.† | 9069 | &nbsp;&nbsp; 76996 |
| &nbsp;&nbsp;&nbsp; Foghorn Therapeutics, Inc.† | 12971 | &nbsp;&nbsp; 73675 |
| &nbsp;&nbsp;&nbsp; Fulcrum Therapeutics, Inc.† | 16566 | &nbsp;&nbsp; 138823 |
| &nbsp;&nbsp;&nbsp; Guardian Pharmacy Services, Inc., Class A† | 9293 | &nbsp;&nbsp; 311408 |
| &nbsp;&nbsp;&nbsp; Gyre Therapeutics, Inc.† | 5447 | &nbsp;&nbsp; 44883 |
| &nbsp;&nbsp;&nbsp; Harmony Biosciences Holdings, Inc.† | 17228 | &nbsp;&nbsp; 491687 |
| &nbsp;&nbsp;&nbsp; Harrow, Inc.#† | 12922 | &nbsp;&nbsp; 700114 |
| &nbsp;&nbsp;&nbsp; Herbalife, Ltd.#† | 41594 | &nbsp;&nbsp; 811915 |
| &nbsp;&nbsp;&nbsp; Heron Therapeutics, Inc.#† | 62537 | &nbsp;&nbsp; 74419 |
| &nbsp;&nbsp;&nbsp; Indivior Pharmaceuticals, Inc.† | 48489 | &nbsp;&nbsp; 1586560 |
| &nbsp;&nbsp;&nbsp; Inhibikase Therapeutics, Inc.#† | 24126 | &nbsp;&nbsp; 49458 |
| &nbsp;&nbsp;&nbsp; Ironwood Pharmaceuticals, Inc.† | 67249 | &nbsp;&nbsp; 229992 |
| &nbsp;&nbsp;&nbsp; Journey Medical Corp.#† | 4935 | &nbsp;&nbsp; 40319 |
| &nbsp;&nbsp;&nbsp; KalVista Pharmaceuticals, Inc.#† | 16294 | &nbsp;&nbsp; 265266 |
| &nbsp;&nbsp;&nbsp; Lifevantage Corp.# | 4303 | &nbsp;&nbsp; 20009 |
| &nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, Inc.† | 7476 | &nbsp;&nbsp; 3229632 |
| &nbsp;&nbsp;&nbsp; MannKind Corp.† | 123761 | &nbsp;&nbsp; 405936 |
| &nbsp;&nbsp;&nbsp; MediWound, Ltd.#† | 4505 | &nbsp;&nbsp; 77937 |
| &nbsp;&nbsp;&nbsp; Mirum Pharmaceuticals, Inc.† | 16479 | &nbsp;&nbsp; 1520847 |
| &nbsp;&nbsp;&nbsp; Nature's Sunshine Products, Inc.† | 6967 | &nbsp;&nbsp; 192847 |
| &nbsp;&nbsp;&nbsp; Neurogene, Inc.† | 3972 | &nbsp;&nbsp; 93302 |
| &nbsp;&nbsp;&nbsp; Nuvectis Pharma, Inc.† | 5234 | &nbsp;&nbsp; 46373 |
| &nbsp;&nbsp;&nbsp; Ocular Therapeutix, Inc.† | 73286 | &nbsp;&nbsp; 655177 |
| &nbsp;&nbsp;&nbsp; ORIC Pharmaceuticals, Inc.† | 26880 | &nbsp;&nbsp; 361536 |
| &nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.† | 18084 | &nbsp;&nbsp; 396220 |
| &nbsp;&nbsp;&nbsp; Phibro Animal Health Corp., Class A | 8155 | &nbsp;&nbsp; 445181 |
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc.† | 23395 | &nbsp;&nbsp; 2154212 |
| &nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals, Inc.† | 21274 | &nbsp;&nbsp; 1972738 |
| &nbsp;&nbsp;&nbsp; SELLAS Life Sciences Group, Inc.#† | 48878 | &nbsp;&nbsp; 240969 |
| &nbsp;&nbsp;&nbsp; SIGA Technologies, Inc. | 15488 | &nbsp;&nbsp; 100207 |
| &nbsp;&nbsp;&nbsp; Spyre Therapeutics, Inc.† | 27796 | &nbsp;&nbsp; 1195506 |
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.† | 21736 | &nbsp;&nbsp; 1189611 |
| &nbsp;&nbsp;&nbsp; Tonix Pharmaceuticals Holding Corp.#† | 4232 | &nbsp;&nbsp; 59121 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Trevi Therapeutics, Inc.† | 37056 | &nbsp;&nbsp; $441708 |
| &nbsp;&nbsp;&nbsp; TuHURA Biosciences, Inc.#† | 10444 | &nbsp;&nbsp; 17442 |
| &nbsp;&nbsp;&nbsp; USANA Health Sciences, Inc.† | 4186 | &nbsp;&nbsp; 90083 |
| &nbsp;&nbsp;&nbsp; Vanda Pharmaceuticals, Inc.† | 21489 | &nbsp;&nbsp; 191467 |
| &nbsp;&nbsp;&nbsp; Vaxcyte, Inc.† | 49937 | &nbsp;&nbsp; 3083110 |
| &nbsp;&nbsp;&nbsp; Voyager Therapeutics, Inc.† | 20906 | &nbsp;&nbsp; 85715 |
| &nbsp;&nbsp;&nbsp; Xeris Biopharma Holdings, Inc.† | 62194 | &nbsp;&nbsp; 380627 |
|  |  | &nbsp;&nbsp; 32494809 |
| **Pipelines — 0.3%** | **Pipelines — 0.3%** | **Pipelines — 0.3%** |
| &nbsp;&nbsp;&nbsp; Excelerate Energy, Inc., Class A | 9746 | &nbsp;&nbsp; 392276 |
| &nbsp;&nbsp;&nbsp; Golar LNG, Ltd. | 39097 | &nbsp;&nbsp; 1738253 |
| &nbsp;&nbsp;&nbsp; Kinetik Holdings, Inc.# | 18017 | &nbsp;&nbsp; 819593 |
| &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.#† | 66355 | &nbsp;&nbsp; 72327 |
| &nbsp;&nbsp;&nbsp; NextDecade Corp.#† | 56631 | &nbsp;&nbsp; 305241 |
| &nbsp;&nbsp;&nbsp; Summit Midstream Corp.† | 3935 | &nbsp;&nbsp; 116122 |
|  |  | &nbsp;&nbsp; 3443812 |
| **Private Equity — 0.0%** | **Private Equity — 0.0%** | **Private Equity — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ridgepost Capital, Inc.# | 23482 | &nbsp;&nbsp; 189500 |
| &nbsp;&nbsp;&nbsp; Patria Investments, Ltd., Class A# | 26231 | &nbsp;&nbsp; 344150 |
|  |  | &nbsp;&nbsp; 533650 |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| &nbsp;&nbsp;&nbsp; American Realty Investors, Inc.† | 298 | &nbsp;&nbsp; 5096 |
| &nbsp;&nbsp;&nbsp; Compass, Inc., Class A† | 258185 | &nbsp;&nbsp; 2517304 |
| &nbsp;&nbsp;&nbsp; Douglas Elliman, Inc.† | 29817 | &nbsp;&nbsp; 67983 |
| &nbsp;&nbsp;&nbsp; eXp World Holdings, Inc.# | 36452 | &nbsp;&nbsp; 254070 |
| &nbsp;&nbsp;&nbsp; FRP Holdings, Inc.† | 4736 | &nbsp;&nbsp; 113380 |
| &nbsp;&nbsp;&nbsp; Kennedy-Wilson Holdings, Inc. | 48086 | &nbsp;&nbsp; 523176 |
| &nbsp;&nbsp;&nbsp; Legacy Housing Corp.† | 3515 | &nbsp;&nbsp; 77049 |
| &nbsp;&nbsp;&nbsp; Logistic Properties Of The Americas, Class A† | 1596 | &nbsp;&nbsp; 4022 |
| &nbsp;&nbsp;&nbsp; Marcus & Millichap, Inc. | 10287 | &nbsp;&nbsp; 271680 |
| &nbsp;&nbsp;&nbsp; Maui Land & Pineapple Co., Inc.† | 2775 | &nbsp;&nbsp; 45649 |
| &nbsp;&nbsp;&nbsp; McGrath RentCorp | 9891 | &nbsp;&nbsp; 1097406 |
| &nbsp;&nbsp;&nbsp; Mobile Infrastructure Corp.† | 5856 | &nbsp;&nbsp; 17802 |
| &nbsp;&nbsp;&nbsp; Newmark Group, Inc., Class A | 59964 | &nbsp;&nbsp; 870677 |
| &nbsp;&nbsp;&nbsp; RE/MAX Holdings, Inc., Class A† | 7240 | &nbsp;&nbsp; 45540 |
| &nbsp;&nbsp;&nbsp; Real Brokerage, Inc.† | 53967 | &nbsp;&nbsp; 143012 |
| &nbsp;&nbsp;&nbsp; RMR Group, Inc., Class A# | 6312 | &nbsp;&nbsp; 103390 |
| &nbsp;&nbsp;&nbsp; Seaport Entertainment Group, Inc.#† | 3035 | &nbsp;&nbsp; 70898 |
| &nbsp;&nbsp;&nbsp; Sky Harbour Group Corp.#† | 8650 | &nbsp;&nbsp; 75947 |
| &nbsp;&nbsp;&nbsp; St. Joe Co. | 15359 | &nbsp;&nbsp; 1108459 |
| &nbsp;&nbsp;&nbsp; Stratus Properties, Inc.† | 2715 | &nbsp;&nbsp; 82862 |
| &nbsp;&nbsp;&nbsp; Transcontinental Realty Investors, Inc.† | 769 | &nbsp;&nbsp; 28199 |
|  |  | &nbsp;&nbsp; 7523601 |
| **REITS — 5.6%** | **REITS — 5.6%** | **REITS — 5.6%** |
| &nbsp;&nbsp;&nbsp; Acadia Realty Trust | 53257 | &nbsp;&nbsp; 1114136 |
| &nbsp;&nbsp;&nbsp; ACRES Commercial Realty Corp.† | 2503 | &nbsp;&nbsp; 46331 |
| &nbsp;&nbsp;&nbsp; Adamas Trust, Inc. | 33514 | &nbsp;&nbsp; 276155 |
| &nbsp;&nbsp;&nbsp; Alexander & Baldwin, Inc. | 29972 | &nbsp;&nbsp; 623118 |
| &nbsp;&nbsp;&nbsp; Alexander's, Inc. | 832 | &nbsp;&nbsp; 195204 |
| &nbsp;&nbsp;&nbsp; Alpine Income Property Trust, Inc. | 5141 | &nbsp;&nbsp; 101381 |
| &nbsp;&nbsp;&nbsp; American Assets Trust, Inc. | 20857 | &nbsp;&nbsp; 407129 |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 68008 | &nbsp;&nbsp; 3552738 |
| &nbsp;&nbsp;&nbsp; Angel Oak Mtg. REIT, Inc. | 5051 | &nbsp;&nbsp; 43338 |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. | 55043 | &nbsp;&nbsp; 583456 |
| &nbsp;&nbsp;&nbsp; Apple Hospitality REIT, Inc.# | 90297 | &nbsp;&nbsp; 1107041 |
| &nbsp;&nbsp;&nbsp; Arbor Realty Trust, Inc. | 62789 | &nbsp;&nbsp; 497917 |
| &nbsp;&nbsp;&nbsp; Ares Commercial Real Estate Corp.# | 20651 | &nbsp;&nbsp; 103668 |
| &nbsp;&nbsp;&nbsp; Armada Hoffler Properties, Inc.# | 31788 | &nbsp;&nbsp; 198675 |
| &nbsp;&nbsp;&nbsp; ARMOUR Residential REIT, Inc.# | 45894 | &nbsp;&nbsp; 823797 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp; Blackstone Mtg. Trust, Inc., Class A | 63949 | &nbsp;&nbsp; $1228460 |
| &nbsp;&nbsp;&nbsp; Braemar Hotels & Resorts, Inc. | 23969 | &nbsp;&nbsp; 69750 |
| &nbsp;&nbsp;&nbsp; Brandywine Realty Trust | 69703 | &nbsp;&nbsp; 222353 |
| &nbsp;&nbsp;&nbsp; BrightSpire Capital, Inc. | 51104 | &nbsp;&nbsp; 296914 |
| &nbsp;&nbsp;&nbsp; Broadstone Net Lease, Inc. | 76284 | &nbsp;&nbsp; 1479147 |
| &nbsp;&nbsp;&nbsp; BRT Apartments Corp. | 4407 | &nbsp;&nbsp; 64651 |
| &nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | 90403 | &nbsp;&nbsp; 3672170 |
| &nbsp;&nbsp;&nbsp; CBL & Associates Properties, Inc. | 7707 | &nbsp;&nbsp; 291170 |
| &nbsp;&nbsp;&nbsp; Centerspace | 6676 | &nbsp;&nbsp; 419920 |
| &nbsp;&nbsp;&nbsp; Chatham Lodging Trust | 17502 | &nbsp;&nbsp; 134940 |
| &nbsp;&nbsp;&nbsp; Chicago Atlantic Real Estate Finance, Inc. | 7015 | &nbsp;&nbsp; 85232 |
| &nbsp;&nbsp;&nbsp; Chimera Investment Corp. | 32631 | &nbsp;&nbsp; 444108 |
| &nbsp;&nbsp;&nbsp; Chiron Real Estate, Inc. | 4913 | &nbsp;&nbsp; 170137 |
| &nbsp;&nbsp;&nbsp; Claros Mtg. Trust, Inc.† | 34542 | &nbsp;&nbsp; 82555 |
| &nbsp;&nbsp;&nbsp; Clipper Realty, Inc. | 6219 | &nbsp;&nbsp; 19155 |
| &nbsp;&nbsp;&nbsp; Community Healthcare Trust, Inc. | 10530 | &nbsp;&nbsp; 179958 |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties | 45826 | &nbsp;&nbsp; 1456350 |
| &nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc. | 13165 | &nbsp;&nbsp; 256454 |
| &nbsp;&nbsp;&nbsp; Curbline Properties Corp. | 39294 | &nbsp;&nbsp; 1092766 |
| &nbsp;&nbsp;&nbsp; DiamondRock Hospitality Co. | 83775 | &nbsp;&nbsp; 841101 |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust | 90413 | &nbsp;&nbsp; 611192 |
| &nbsp;&nbsp;&nbsp; Douglas Emmett, Inc. | 55766 | &nbsp;&nbsp; 551526 |
| &nbsp;&nbsp;&nbsp; Dynex Capital, Inc. | 59684 | &nbsp;&nbsp; 837367 |
| &nbsp;&nbsp;&nbsp; Easterly Government Properties, Inc. | 16794 | &nbsp;&nbsp; 390964 |
| &nbsp;&nbsp;&nbsp; Ellington Financial, Inc. | 38485 | &nbsp;&nbsp; 477984 |
| &nbsp;&nbsp;&nbsp; Empire State Realty Trust, Inc., Class A# | 55533 | &nbsp;&nbsp; 326534 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 79904 | &nbsp;&nbsp; 2711942 |
| &nbsp;&nbsp;&nbsp; Farmland Partners, Inc. | 16225 | &nbsp;&nbsp; 211574 |
| &nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | 42723 | &nbsp;&nbsp; 1090291 |
| &nbsp;&nbsp;&nbsp; Franklin BSP Realty Trust, Inc. | 32737 | &nbsp;&nbsp; 298889 |
| &nbsp;&nbsp;&nbsp; Franklin Street Properties Corp. | 30172 | &nbsp;&nbsp; 24823 |
| &nbsp;&nbsp;&nbsp; FrontView REIT, Inc. | 8727 | &nbsp;&nbsp; 144606 |
| &nbsp;&nbsp;&nbsp; Getty Realty Corp. | 21294 | &nbsp;&nbsp; 698869 |
| &nbsp;&nbsp;&nbsp; Gladstone Commercial Corp. | 17869 | &nbsp;&nbsp; 223184 |
| &nbsp;&nbsp;&nbsp; Gladstone Land Corp. | 14145 | &nbsp;&nbsp; 173701 |
| &nbsp;&nbsp;&nbsp; Global Net Lease, Inc. | 80696 | &nbsp;&nbsp; 760156 |
| &nbsp;&nbsp;&nbsp; Hudson Pacific Properties, Inc.† | 20182 | &nbsp;&nbsp; 146118 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | 96291 | &nbsp;&nbsp; 1595542 |
| &nbsp;&nbsp;&nbsp; Industrial Logistics Properties Trust | 22159 | &nbsp;&nbsp; 129852 |
| &nbsp;&nbsp;&nbsp; Innovative Industrial Properties, Inc. | 10946 | &nbsp;&nbsp; 579700 |
| &nbsp;&nbsp;&nbsp; InvenTrust Properties Corp. | 31568 | &nbsp;&nbsp; 984922 |
| &nbsp;&nbsp;&nbsp; Invesco Mtg. Capital, Inc. | 28234 | &nbsp;&nbsp; 238013 |
| &nbsp;&nbsp;&nbsp; JBG SMITH Properties# | 23578 | &nbsp;&nbsp; 358621 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group Trust# | 87481 | &nbsp;&nbsp; 2278880 |
| &nbsp;&nbsp;&nbsp; KKR Real Estate Finance Trust, Inc. | 22636 | &nbsp;&nbsp; 157320 |
| &nbsp;&nbsp;&nbsp; Ladder Capital Corp. | 47397 | &nbsp;&nbsp; 491507 |
| &nbsp;&nbsp;&nbsp; LTC Properties, Inc. | 18575 | &nbsp;&nbsp; 737056 |
| &nbsp;&nbsp;&nbsp; Lument Finance Trust, Inc.# | 18556 | &nbsp;&nbsp; 25607 |
| &nbsp;&nbsp;&nbsp; LXP Industrial Trust | 23504 | &nbsp;&nbsp; 1164858 |
| &nbsp;&nbsp;&nbsp; Macerich Co. | 102133 | &nbsp;&nbsp; 2090663 |
| &nbsp;&nbsp;&nbsp; MFA Financial, Inc. | 40857 | &nbsp;&nbsp; 413064 |
| &nbsp;&nbsp;&nbsp; Modiv Industrial, Inc. | 3804 | &nbsp;&nbsp; 59000 |
| &nbsp;&nbsp;&nbsp; National Health Investors, Inc. | 18825 | &nbsp;&nbsp; 1582618 |
| &nbsp;&nbsp;&nbsp; NET Lease Office Properties | 5760 | &nbsp;&nbsp; 78566 |
| &nbsp;&nbsp;&nbsp; NETSTREIT Corp.# | 33250 | &nbsp;&nbsp; 690602 |
| &nbsp;&nbsp;&nbsp; NexPoint Diversified Real Estate Trust# | 14509 | &nbsp;&nbsp; 64565 |
| &nbsp;&nbsp;&nbsp; Nexpoint Real Estate Finance, Inc.# | 3109 | &nbsp;&nbsp; 45112 |
| &nbsp;&nbsp;&nbsp; NexPoint Residential Trust, Inc. | 8903 | &nbsp;&nbsp; 250976 |
| &nbsp;&nbsp;&nbsp; One Liberty Properties, Inc. | 7023 | &nbsp;&nbsp; 164970 |
| &nbsp;&nbsp;&nbsp; Orchid Island Capital, Inc.# | 61922 | &nbsp;&nbsp; 460700 |
| &nbsp;&nbsp;&nbsp; Outfront Media, Inc. | 59463 | &nbsp;&nbsp; 1713129 |
| &nbsp;&nbsp;&nbsp; Peakstone Realty Trust | 15427 | &nbsp;&nbsp; 321807 |
| &nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust# | 46328 | &nbsp;&nbsp; 594388 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp; PennyMac Mtg. Investment Trust | 34381 | &nbsp;&nbsp; $421511 |
| &nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 50782 | &nbsp;&nbsp; 1994717 |
| &nbsp;&nbsp;&nbsp; Piedmont Office Realty Trust, Inc. | 49638 | &nbsp;&nbsp; 376752 |
| &nbsp;&nbsp;&nbsp; Postal Realty Trust, Inc., Class A | 10104 | &nbsp;&nbsp; 209456 |
| &nbsp;&nbsp;&nbsp; Ready Capital Corp.# | 64673 | &nbsp;&nbsp; 119645 |
| &nbsp;&nbsp;&nbsp; Redwood Trust, Inc. | 52683 | &nbsp;&nbsp; 318732 |
| &nbsp;&nbsp;&nbsp; Rithm Property Trust, Inc. | 2854 | &nbsp;&nbsp; 41554 |
| &nbsp;&nbsp;&nbsp; RLJ Lodging Trust# | 56138 | &nbsp;&nbsp; 450227 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | 24845 | &nbsp;&nbsp; 2453444 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | 95613 | &nbsp;&nbsp; 1964847 |
| &nbsp;&nbsp;&nbsp; Safehold, Inc. | 22124 | &nbsp;&nbsp; 357081 |
| &nbsp;&nbsp;&nbsp; Saul Centers, Inc. | 4704 | &nbsp;&nbsp; 160312 |
| &nbsp;&nbsp;&nbsp; Service Properties Trust | 59063 | &nbsp;&nbsp; 135845 |
| &nbsp;&nbsp;&nbsp; Seven Hills Realty Trust# | 8154 | &nbsp;&nbsp; 69798 |
| &nbsp;&nbsp;&nbsp; Sila Realty Trust, Inc. | 22921 | &nbsp;&nbsp; 589757 |
| &nbsp;&nbsp;&nbsp; SITE Centers Corp. | 19508 | &nbsp;&nbsp; 120169 |
| &nbsp;&nbsp;&nbsp; SL Green Realty Corp. | 28953 | &nbsp;&nbsp; 1066918 |
| &nbsp;&nbsp;&nbsp; Smartstop Self Storage REIT, Inc. | 12667 | &nbsp;&nbsp; 422444 |
| &nbsp;&nbsp;&nbsp; Strawberry Fields REIT, Inc. | 2934 | &nbsp;&nbsp; 37555 |
| &nbsp;&nbsp;&nbsp; Summit Hotel Properties, Inc. | 43744 | &nbsp;&nbsp; 197285 |
| &nbsp;&nbsp;&nbsp; Sunrise Realty Trust, Inc. | 4132 | &nbsp;&nbsp; 38717 |
| &nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | 74346 | &nbsp;&nbsp; 689931 |
| &nbsp;&nbsp;&nbsp; Tanger, Inc. | 44800 | &nbsp;&nbsp; 1660288 |
| &nbsp;&nbsp;&nbsp; Terreno Realty Corp. | 41130 | &nbsp;&nbsp; 2717048 |
| &nbsp;&nbsp;&nbsp; TPG Mtg. Investment Trust, Inc. | 10923 | &nbsp;&nbsp; 88367 |
| &nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc. | 26859 | &nbsp;&nbsp; 227227 |
| &nbsp;&nbsp;&nbsp; Two Harbors Investment Corp. | 41140 | &nbsp;&nbsp; 424976 |
| &nbsp;&nbsp;&nbsp; UMH Properties, Inc. | 33189 | &nbsp;&nbsp; 500490 |
| &nbsp;&nbsp;&nbsp; Universal Health Realty Income Trust | 4996 | &nbsp;&nbsp; 217926 |
| &nbsp;&nbsp;&nbsp; Urban Edge Properties | 50135 | &nbsp;&nbsp; 1065369 |
| &nbsp;&nbsp;&nbsp; Veris Residential, Inc. | 30668 | &nbsp;&nbsp; 578092 |
| &nbsp;&nbsp;&nbsp; Whitestone REIT | 17533 | &nbsp;&nbsp; 266326 |
| &nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | 37735 | &nbsp;&nbsp; 576591 |
|  |  | &nbsp;&nbsp; 69692530 |
| **Retail — 3.1%** | **Retail — 3.1%** | **Retail — 3.1%** |
| &nbsp;&nbsp;&nbsp; Abercrombie & Fitch Co., Class A† | 18726 | &nbsp;&nbsp; 1831403 |
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, Inc. | 26675 | &nbsp;&nbsp; 1603968 |
| &nbsp;&nbsp;&nbsp; Advance Auto Parts, Inc.# | 24133 | &nbsp;&nbsp; 1283152 |
| &nbsp;&nbsp;&nbsp; American Eagle Outfitters, Inc. | 64135 | &nbsp;&nbsp; 1575797 |
| &nbsp;&nbsp;&nbsp; America's Car-Mart, Inc.#† | 2854 | &nbsp;&nbsp; 56966 |
| &nbsp;&nbsp;&nbsp; Arko Corp. | 29180 | &nbsp;&nbsp; 187627 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.† | 7811 | &nbsp;&nbsp; 1669836 |
| &nbsp;&nbsp;&nbsp; Barnes & Noble Education, Inc.#† | 6087 | &nbsp;&nbsp; 52652 |
| &nbsp;&nbsp;&nbsp; Bassett Furniture Industries, Inc. | 2692 | &nbsp;&nbsp; 40299 |
| &nbsp;&nbsp;&nbsp; Biglari Holdings, Inc., Class B† | 260 | &nbsp;&nbsp; 100823 |
| &nbsp;&nbsp;&nbsp; BJ's Restaurants, Inc.† | 8327 | &nbsp;&nbsp; 316343 |
| &nbsp;&nbsp;&nbsp; Black Rock Coffee Bar, Inc.† | 7363 | &nbsp;&nbsp; 98222 |
| &nbsp;&nbsp;&nbsp; Bloomin' Brands, Inc. | 33704 | &nbsp;&nbsp; 206268 |
| &nbsp;&nbsp;&nbsp; BlueLinx Holdings, Inc.† | 2999 | &nbsp;&nbsp; 197694 |
| &nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.† | 12372 | &nbsp;&nbsp; 2341030 |
| &nbsp;&nbsp;&nbsp; Brinker International, Inc.† | 17805 | &nbsp;&nbsp; 2638701 |
| &nbsp;&nbsp;&nbsp; Buckle, Inc. | 12915 | &nbsp;&nbsp; 691598 |
| &nbsp;&nbsp;&nbsp; Build-A-Bear Workshop, Inc. | 4898 | &nbsp;&nbsp; 238337 |
| &nbsp;&nbsp;&nbsp; Caleres, Inc. | 12669 | &nbsp;&nbsp; 150634 |
| &nbsp;&nbsp;&nbsp; Camping World Holdings, Inc., Class A | 23740 | &nbsp;&nbsp; 197517 |
| &nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. | 18625 | &nbsp;&nbsp; 1206527 |
| &nbsp;&nbsp;&nbsp; Citi Trends, Inc.† | 1942 | &nbsp;&nbsp; 92012 |
| &nbsp;&nbsp;&nbsp; Clean Energy Fuels Corp.† | 66776 | &nbsp;&nbsp; 150914 |
| &nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store, Inc. | 8621 | &nbsp;&nbsp; 282079 |
| &nbsp;&nbsp;&nbsp; Dave & Buster's Entertainment, Inc.† | 10712 | &nbsp;&nbsp; 157681 |
| &nbsp;&nbsp;&nbsp; Designer Brands, Inc., Class A# | 12956 | &nbsp;&nbsp; 92247 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp; Dine Brands Global, Inc.# | 6043 | &nbsp;&nbsp; $187091 |
| &nbsp;&nbsp;&nbsp; El Pollo Loco Holdings, Inc.† | 10876 | &nbsp;&nbsp; 120289 |
| &nbsp;&nbsp;&nbsp; Envela Corp.† | 2705 | &nbsp;&nbsp; 36409 |
| &nbsp;&nbsp;&nbsp; EVgo, Inc.† | 49166 | &nbsp;&nbsp; 134715 |
| &nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.#† | 23001 | &nbsp;&nbsp; 286592 |
| &nbsp;&nbsp;&nbsp; FirstCash Holdings, Inc. | 15932 | &nbsp;&nbsp; 3071530 |
| &nbsp;&nbsp;&nbsp; Genesco, Inc.† | 4085 | &nbsp;&nbsp; 111275 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. | 4949 | &nbsp;&nbsp; 1612087 |
| &nbsp;&nbsp;&nbsp; Haverty Furniture Cos., Inc. | 5505 | &nbsp;&nbsp; 131074 |
| &nbsp;&nbsp;&nbsp; J. Jill, Inc. | 2792 | &nbsp;&nbsp; 48218 |
| &nbsp;&nbsp;&nbsp; Jack in the Box, Inc.# | 7433 | &nbsp;&nbsp; 125766 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | 42977 | &nbsp;&nbsp; 703533 |
| &nbsp;&nbsp;&nbsp; Krispy Kreme, Inc.# | 26225 | &nbsp;&nbsp; 98344 |
| &nbsp;&nbsp;&nbsp; Kura Sushi USA, Inc., Class A† | 2415 | &nbsp;&nbsp; 170088 |
| &nbsp;&nbsp;&nbsp; La-Z-Boy, Inc. | 16351 | &nbsp;&nbsp; 584058 |
| &nbsp;&nbsp;&nbsp; MarineMax, Inc.† | 7300 | &nbsp;&nbsp; 222650 |
| &nbsp;&nbsp;&nbsp; Movado Group, Inc. | 5748 | &nbsp;&nbsp; 143413 |
| &nbsp;&nbsp;&nbsp; National Vision Holdings, Inc.† | 31621 | &nbsp;&nbsp; 852818 |
| &nbsp;&nbsp;&nbsp; Nu Skin Enterprises, Inc., Class A | 18693 | &nbsp;&nbsp; 158517 |
| &nbsp;&nbsp;&nbsp; OneWater Marine, Inc., Class A† | 4544 | &nbsp;&nbsp; 51733 |
| &nbsp;&nbsp;&nbsp; OPAL Fuels, Inc., Class A† | 8596 | &nbsp;&nbsp; 17966 |
| &nbsp;&nbsp;&nbsp; Papa John's International, Inc. | 12977 | &nbsp;&nbsp; 406829 |
| &nbsp;&nbsp;&nbsp; PC Connection, Inc. | 4448 | &nbsp;&nbsp; 271106 |
| &nbsp;&nbsp;&nbsp; Petco Health & Wellness Co., Inc.#† | 31920 | &nbsp;&nbsp; 81396 |
| &nbsp;&nbsp;&nbsp; Portillo's, Inc., Class A#† | 26561 | &nbsp;&nbsp; 141836 |
| &nbsp;&nbsp;&nbsp; PriceSmart, Inc. | 10321 | &nbsp;&nbsp; 1595833 |
| &nbsp;&nbsp;&nbsp; Sally Beauty Holdings, Inc.† | 39139 | &nbsp;&nbsp; 628964 |
| &nbsp;&nbsp;&nbsp; Savers Value Village, Inc.† | 14727 | &nbsp;&nbsp; 138876 |
| &nbsp;&nbsp;&nbsp; Shake Shack, Inc., Class A† | 15633 | &nbsp;&nbsp; 1500924 |
| &nbsp;&nbsp;&nbsp; Shoe Carnival, Inc. | 6888 | &nbsp;&nbsp; 139069 |
| &nbsp;&nbsp;&nbsp; Signet Jewelers, Ltd.# | 16110 | &nbsp;&nbsp; 1549621 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc., Class A | 6100 | &nbsp;&nbsp; 382592 |
| &nbsp;&nbsp;&nbsp; Sweetgreen, Inc., Class A#† | 43749 | &nbsp;&nbsp; 242807 |
| &nbsp;&nbsp;&nbsp; Urban Outfitters, Inc.† | 24833 | &nbsp;&nbsp; 1643945 |
| &nbsp;&nbsp;&nbsp; Victoria's Secret & Co.† | 27737 | &nbsp;&nbsp; 1739110 |
| &nbsp;&nbsp;&nbsp; Warby Parker, Inc., Class A† | 39778 | &nbsp;&nbsp; 994848 |
| &nbsp;&nbsp;&nbsp; Winmark Corp.# | 1227 | &nbsp;&nbsp; 559806 |
| &nbsp;&nbsp;&nbsp; Zumiez, Inc.† | 5333 | &nbsp;&nbsp; 139831 |
|  |  | &nbsp;&nbsp; 38485886 |
| **Savings & Loans — 0.9%** | **Savings & Loans — 0.9%** | **Savings & Loans — 0.9%** |
| &nbsp;&nbsp;&nbsp; Beacon Financial Corp. | 30471 | &nbsp;&nbsp; 906208 |
| &nbsp;&nbsp;&nbsp; Axos Financial, Inc.† | 21875 | &nbsp;&nbsp; 1899187 |
| &nbsp;&nbsp;&nbsp; Banc of California, Inc. | 51845 | &nbsp;&nbsp; 957577 |
| &nbsp;&nbsp;&nbsp; BV Financial, Inc.† | 3523 | &nbsp;&nbsp; 65810 |
| &nbsp;&nbsp;&nbsp; Capitol Federal Financial, Inc. | 48706 | &nbsp;&nbsp; 349709 |
| &nbsp;&nbsp;&nbsp; CF Bankshares, Inc. | 2361 | &nbsp;&nbsp; 71349 |
| &nbsp;&nbsp;&nbsp; Citizens Community Bancorp, Inc. | 3902 | &nbsp;&nbsp; 67934 |
| &nbsp;&nbsp;&nbsp; Eagle Bancorp Montana, Inc. | 3012 | &nbsp;&nbsp; 65360 |
| &nbsp;&nbsp;&nbsp; Finward Bancorp | 1396 | &nbsp;&nbsp; 52155 |
| &nbsp;&nbsp;&nbsp; First Capital, Inc. | 1326 | &nbsp;&nbsp; 67361 |
| &nbsp;&nbsp;&nbsp; Flushing Financial Corp. | 12937 | &nbsp;&nbsp; 199618 |
| &nbsp;&nbsp;&nbsp; FS Bancorp, Inc. | 2715 | &nbsp;&nbsp; 107270 |
| &nbsp;&nbsp;&nbsp; Greene County Bancorp, Inc. | 2579 | &nbsp;&nbsp; 56919 |
| &nbsp;&nbsp;&nbsp; Hingham Institution for Savings | 670 | &nbsp;&nbsp; 187010 |
| &nbsp;&nbsp;&nbsp; Home Bancorp, Inc. | 2631 | &nbsp;&nbsp; 155492 |
| &nbsp;&nbsp;&nbsp; HomeTrust Bancshares, Inc. | 6230 | &nbsp;&nbsp; 262532 |
| &nbsp;&nbsp;&nbsp; Northfield Bancorp, Inc. | 15047 | &nbsp;&nbsp; 200727 |
| &nbsp;&nbsp;&nbsp; Northwest Bancshares, Inc. | 57205 | &nbsp;&nbsp; 712202 |
| &nbsp;&nbsp;&nbsp; OceanFirst Financial Corp. | 22205 | &nbsp;&nbsp; 401022 |
| &nbsp;&nbsp;&nbsp; Provident Financial Services, Inc. | 45569 | &nbsp;&nbsp; 958772 |
| &nbsp;&nbsp;&nbsp; Riverview Bancorp, Inc. | 8310 | &nbsp;&nbsp; 44459 |
| &nbsp;&nbsp;&nbsp; Sound Financial Bancorp, Inc. | 871 | &nbsp;&nbsp; 36991 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Savings & Loans (continued)** | **Savings & Loans (continued)** | **Savings & Loans (continued)** |
| &nbsp;&nbsp;&nbsp; Southern Missouri Bancorp, Inc. | 4120 | &nbsp;&nbsp; $255069 |
| &nbsp;&nbsp;&nbsp; Timberland Bancorp, Inc. | 2981 | &nbsp;&nbsp; 113516 |
| &nbsp;&nbsp;&nbsp; WaFd, Inc. | 28380 | &nbsp;&nbsp; 884321 |
| &nbsp;&nbsp;&nbsp; WaterStone Financial, Inc. | 6400 | &nbsp;&nbsp; 113984 |
| &nbsp;&nbsp;&nbsp; WSFS Financial Corp. | 21670 | &nbsp;&nbsp; 1376262 |
|  |  | &nbsp;&nbsp; 10568816 |
| **Semiconductors — 2.7%** | **Semiconductors — 2.7%** | **Semiconductors — 2.7%** |
| &nbsp;&nbsp;&nbsp; ACM Research, Inc., Class A† | 20312 | &nbsp;&nbsp; 1130972 |
| &nbsp;&nbsp;&nbsp; Aehr Test Systems#† | 11785 | &nbsp;&nbsp; 441113 |
| &nbsp;&nbsp;&nbsp; Aeluma, Inc.#† | 5441 | &nbsp;&nbsp; 84172 |
| &nbsp;&nbsp;&nbsp; Alpha & Omega Semiconductor, Ltd.† | 9863 | &nbsp;&nbsp; 207222 |
| &nbsp;&nbsp;&nbsp; Ambarella, Inc.† | 16424 | &nbsp;&nbsp; 991024 |
| &nbsp;&nbsp;&nbsp; Ambiq Micro, Inc.† | 1787 | &nbsp;&nbsp; 54861 |
| &nbsp;&nbsp;&nbsp; Arteris, Inc.† | 12840 | &nbsp;&nbsp; 218152 |
| &nbsp;&nbsp;&nbsp; Atomera, Inc.#† | 11899 | &nbsp;&nbsp; 59971 |
| &nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc.† | 12543 | &nbsp;&nbsp; 1036177 |
| &nbsp;&nbsp;&nbsp; Blaize Holdings, Inc.#† | 28089 | &nbsp;&nbsp; 33145 |
| &nbsp;&nbsp;&nbsp; CEVA, Inc.† | 9974 | &nbsp;&nbsp; 208058 |
| &nbsp;&nbsp;&nbsp; Cohu, Inc.† | 18841 | &nbsp;&nbsp; 568998 |
| &nbsp;&nbsp;&nbsp; Diodes, Inc.† | 18454 | &nbsp;&nbsp; 1259116 |
| &nbsp;&nbsp;&nbsp; FormFactor, Inc.† | 31323 | &nbsp;&nbsp; 3097218 |
| &nbsp;&nbsp;&nbsp; Impinj, Inc.† | 10997 | &nbsp;&nbsp; 1348892 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. | 20487 | &nbsp;&nbsp; 1428354 |
| &nbsp;&nbsp;&nbsp; MaxLinear, Inc.† | 32527 | &nbsp;&nbsp; 566946 |
| &nbsp;&nbsp;&nbsp; Navitas Semiconductor Corp.#† | 63647 | &nbsp;&nbsp; 572823 |
| &nbsp;&nbsp;&nbsp; Ouster, Inc.#† | 21527 | &nbsp;&nbsp; 407937 |
| &nbsp;&nbsp;&nbsp; Penguin Solutions, Inc.† | 21068 | &nbsp;&nbsp; 437793 |
| &nbsp;&nbsp;&nbsp; Photronics, Inc.† | 23153 | &nbsp;&nbsp; 866617 |
| &nbsp;&nbsp;&nbsp; Power Integrations, Inc. | 22595 | &nbsp;&nbsp; 1082752 |
| &nbsp;&nbsp;&nbsp; Rambus, Inc.† | 43393 | &nbsp;&nbsp; 4324546 |
| &nbsp;&nbsp;&nbsp; Richardson Electronics, Ltd.# | 4921 | &nbsp;&nbsp; 60430 |
| &nbsp;&nbsp;&nbsp; Semtech Corp.† | 35057 | &nbsp;&nbsp; 3162843 |
| &nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.† | 13110 | &nbsp;&nbsp; 2681388 |
| &nbsp;&nbsp;&nbsp; SiTime Corp.† | 8664 | &nbsp;&nbsp; 3447232 |
| &nbsp;&nbsp;&nbsp; SkyWater Technology, Inc.† | 12109 | &nbsp;&nbsp; 356731 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc.† | 15631 | &nbsp;&nbsp; 1273301 |
| &nbsp;&nbsp;&nbsp; Ultra Clean Holdings, Inc.† | 18030 | &nbsp;&nbsp; 1094060 |
| &nbsp;&nbsp;&nbsp; Veeco Instruments, Inc.† | 24264 | &nbsp;&nbsp; 741508 |
| &nbsp;&nbsp;&nbsp; Vishay Precision Group, Inc.† | 5028 | &nbsp;&nbsp; 231640 |
|  |  | &nbsp;&nbsp; 33475992 |
| **Software — 4.0%** | **Software — 4.0%** | **Software — 4.0%** |
| &nbsp;&nbsp;&nbsp; Meridian Holdings, Inc.† | 5944 | &nbsp;&nbsp; 3448 |
| &nbsp;&nbsp;&nbsp; Teads Holding Co.#† | 12189 | &nbsp;&nbsp; 10430 |
| &nbsp;&nbsp;&nbsp; TruBridge, Inc.#† | 4062 | &nbsp;&nbsp; 78356 |
| &nbsp;&nbsp;&nbsp; 8x8, Inc.† | 53029 | &nbsp;&nbsp; 113482 |
| &nbsp;&nbsp;&nbsp; ACI Worldwide, Inc.† | 41613 | &nbsp;&nbsp; 1651204 |
| &nbsp;&nbsp;&nbsp; ACV Auctions, Inc., Class A† | 66167 | &nbsp;&nbsp; 321572 |
| &nbsp;&nbsp;&nbsp; Adeia, Inc. | 44180 | &nbsp;&nbsp; 914084 |
| &nbsp;&nbsp;&nbsp; Agilysys, Inc.† | 10516 | &nbsp;&nbsp; 758940 |
| &nbsp;&nbsp;&nbsp; Airship AI Holdings, Inc.#† | 8137 | &nbsp;&nbsp; 22214 |
| &nbsp;&nbsp;&nbsp; Alignment Healthcare, Inc.† | 68191 | &nbsp;&nbsp; 1310631 |
| &nbsp;&nbsp;&nbsp; Alkami Technology, Inc.† | 27338 | &nbsp;&nbsp; 452307 |
| &nbsp;&nbsp;&nbsp; Amplitude, Inc., Class A† | 38072 | &nbsp;&nbsp; 277926 |
| &nbsp;&nbsp;&nbsp; Appian Corp., Class A† | 15601 | &nbsp;&nbsp; 416079 |
| &nbsp;&nbsp;&nbsp; Asana, Inc., Class A† | 34117 | &nbsp;&nbsp; 242231 |
| &nbsp;&nbsp;&nbsp; Asure Software, Inc.#† | 11382 | &nbsp;&nbsp; 104031 |
| &nbsp;&nbsp;&nbsp; AvePoint, Inc.† | 60241 | &nbsp;&nbsp; 649398 |
| &nbsp;&nbsp;&nbsp; Bandwidth, Inc., Class A† | 12013 | &nbsp;&nbsp; 178033 |
| &nbsp;&nbsp;&nbsp; BigBear.ai Holdings, Inc.#† | 176834 | &nbsp;&nbsp; 700263 |
| &nbsp;&nbsp;&nbsp; Blackbaud, Inc.† | 15594 | &nbsp;&nbsp; 756933 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; BlackLine, Inc.† | 21194 | &nbsp;&nbsp; $747088 |
| &nbsp;&nbsp;&nbsp; Blend Labs, Inc., Class A† | 75383 | &nbsp;&nbsp; 126643 |
| &nbsp;&nbsp;&nbsp; Box, Inc., Class A† | 56497 | &nbsp;&nbsp; 1330504 |
| &nbsp;&nbsp;&nbsp; Braze, Inc., Class A† | 33623 | &nbsp;&nbsp; 638501 |
| &nbsp;&nbsp;&nbsp; C3.ai, Inc., Class A#† | 51917 | &nbsp;&nbsp; 412740 |
| &nbsp;&nbsp;&nbsp; Carlsmed, Inc.#† | 2603 | &nbsp;&nbsp; 37926 |
| &nbsp;&nbsp;&nbsp; Cerence, Inc.† | 16961 | &nbsp;&nbsp; 134162 |
| &nbsp;&nbsp;&nbsp; Claritev Corp.† | 2980 | &nbsp;&nbsp; 40141 |
| &nbsp;&nbsp;&nbsp; Clear Secure, Inc., Class A | 34771 | &nbsp;&nbsp; 1691261 |
| &nbsp;&nbsp;&nbsp; Clearwater Analytics Holdings, Inc., Class A† | 112203 | &nbsp;&nbsp; 2624428 |
| &nbsp;&nbsp;&nbsp; Climb Global Solutions, Inc. | 1474 | &nbsp;&nbsp; 139558 |
| &nbsp;&nbsp;&nbsp; Commerce.com, Inc.† | 25991 | &nbsp;&nbsp; 72255 |
| &nbsp;&nbsp;&nbsp; Commvault Systems, Inc.† | 17902 | &nbsp;&nbsp; 1523102 |
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc.† | 7837 | &nbsp;&nbsp; 235737 |
| &nbsp;&nbsp;&nbsp; CS Disco, Inc.† | 9423 | &nbsp;&nbsp; 30625 |
| &nbsp;&nbsp;&nbsp; CSG Systems International, Inc. | 11265 | &nbsp;&nbsp; 900073 |
| &nbsp;&nbsp;&nbsp; Daily Journal Corp.#† | 497 | &nbsp;&nbsp; 253226 |
| &nbsp;&nbsp;&nbsp; Definitive Healthcare Corp.† | 14415 | &nbsp;&nbsp; 18451 |
| &nbsp;&nbsp;&nbsp; Digi International, Inc.† | 14844 | &nbsp;&nbsp; 724684 |
| &nbsp;&nbsp;&nbsp; Digimarc Corp.#† | 6354 | &nbsp;&nbsp; 27989 |
| &nbsp;&nbsp;&nbsp; Digital Turbine, Inc.#† | 44249 | &nbsp;&nbsp; 179651 |
| &nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc.#† | 27383 | &nbsp;&nbsp; 1535091 |
| &nbsp;&nbsp;&nbsp; Domo, Inc., Class B#† | 11961 | &nbsp;&nbsp; 42940 |
| &nbsp;&nbsp;&nbsp; Donnelley Financial Solutions, Inc.† | 10246 | &nbsp;&nbsp; 509841 |
| &nbsp;&nbsp;&nbsp; eGain Corp.#† | 6072 | &nbsp;&nbsp; 56712 |
| &nbsp;&nbsp;&nbsp; EverCommerce, Inc.#† | 5975 | &nbsp;&nbsp; 68593 |
| &nbsp;&nbsp;&nbsp; Evolent Health, Inc., Class A† | 45940 | &nbsp;&nbsp; 149305 |
| &nbsp;&nbsp;&nbsp; Expensify, Inc., Class A#† | 24315 | &nbsp;&nbsp; 23102 |
| &nbsp;&nbsp;&nbsp; Fastly, Inc., Class A#† | 55637 | &nbsp;&nbsp; 1063779 |
| &nbsp;&nbsp;&nbsp; Five9, Inc.† | 31963 | &nbsp;&nbsp; 557435 |
| &nbsp;&nbsp;&nbsp; Freshworks, Inc., Class A† | 82429 | &nbsp;&nbsp; 644595 |
| &nbsp;&nbsp;&nbsp; Genius Sports, Ltd.† | 90075 | &nbsp;&nbsp; 559366 |
| &nbsp;&nbsp;&nbsp; GigaCloud Technology, Inc., Class A† | 9651 | &nbsp;&nbsp; 427925 |
| &nbsp;&nbsp;&nbsp; Health Catalyst, Inc.#† | 26035 | &nbsp;&nbsp; 42177 |
| &nbsp;&nbsp;&nbsp; HeartFlow, Inc.† | 7811 | &nbsp;&nbsp; 180903 |
| &nbsp;&nbsp;&nbsp; I3 Verticals, Inc., Class A#† | 10098 | &nbsp;&nbsp; 225993 |
| &nbsp;&nbsp;&nbsp; IBEX Holdings, Ltd.† | 4361 | &nbsp;&nbsp; 126033 |
| &nbsp;&nbsp;&nbsp; Ibotta, Inc., Class A#† | 6058 | &nbsp;&nbsp; 151268 |
| &nbsp;&nbsp;&nbsp; Immersion Corp. | 12845 | &nbsp;&nbsp; 78483 |
| &nbsp;&nbsp;&nbsp; Innodata, Inc.#† | 12657 | &nbsp;&nbsp; 559060 |
| &nbsp;&nbsp;&nbsp; Intapp, Inc.† | 22507 | &nbsp;&nbsp; 504832 |
| &nbsp;&nbsp;&nbsp; IonQ, Inc.#† | 136074 | &nbsp;&nbsp; 5221159 |
| &nbsp;&nbsp;&nbsp; Kaltura, Inc.† | 33128 | &nbsp;&nbsp; 46048 |
| &nbsp;&nbsp;&nbsp; Life360, Inc.#† | 8279 | &nbsp;&nbsp; 435889 |
| &nbsp;&nbsp;&nbsp; LiveRamp Holdings, Inc.† | 26456 | &nbsp;&nbsp; 718810 |
| &nbsp;&nbsp;&nbsp; McGraw Hill, Inc.† | 12510 | &nbsp;&nbsp; 175140 |
| &nbsp;&nbsp;&nbsp; N-able, Inc.† | 29964 | &nbsp;&nbsp; 131842 |
| &nbsp;&nbsp;&nbsp; Navan, Inc., Class A† | 15372 | &nbsp;&nbsp; 149723 |
| &nbsp;&nbsp;&nbsp; Nutex Health, Inc.#† | 1304 | &nbsp;&nbsp; 144040 |
| &nbsp;&nbsp;&nbsp; Omada Health, Inc.† | 3530 | &nbsp;&nbsp; 43348 |
| &nbsp;&nbsp;&nbsp; ON24, Inc.† | 14693 | &nbsp;&nbsp; 117691 |
| &nbsp;&nbsp;&nbsp; Pagaya Technologies, Ltd., Class A#† | 20264 | &nbsp;&nbsp; 226754 |
| &nbsp;&nbsp;&nbsp; PagerDuty, Inc.† | 35205 | &nbsp;&nbsp; 248547 |
| &nbsp;&nbsp;&nbsp; PDF Solutions, Inc.#† | 12576 | &nbsp;&nbsp; 424817 |
| &nbsp;&nbsp;&nbsp; Phreesia, Inc.† | 23773 | &nbsp;&nbsp; 293121 |
| &nbsp;&nbsp;&nbsp; Planet Labs PBC† | 95780 | &nbsp;&nbsp; 2312129 |
| &nbsp;&nbsp;&nbsp; Playstudios, Inc.† | 35914 | &nbsp;&nbsp; 18338 |
| &nbsp;&nbsp;&nbsp; Playtika Holding Corp. | 22872 | &nbsp;&nbsp; 70674 |
| &nbsp;&nbsp;&nbsp; Porch Group, Inc.† | 36713 | &nbsp;&nbsp; 301414 |
| &nbsp;&nbsp;&nbsp; Progress Software Corp.† | 17562 | &nbsp;&nbsp; 735497 |
| &nbsp;&nbsp;&nbsp; PubMatic, Inc., Class A† | 16994 | &nbsp;&nbsp; 137651 |
| &nbsp;&nbsp;&nbsp; Quantum Computing, Inc.† | 79428 | &nbsp;&nbsp; 667989 |
| &nbsp;&nbsp;&nbsp; Rackspace Technology, Inc.#† | 33996 | &nbsp;&nbsp; 66292 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Red Violet, Inc.† | 4538 | &nbsp;&nbsp; $196541 |
| &nbsp;&nbsp;&nbsp; ReposiTrak, Inc.# | 4346 | &nbsp;&nbsp; 37810 |
| &nbsp;&nbsp;&nbsp; Rezolve AI PLC#† | 74069 | &nbsp;&nbsp; 172581 |
| &nbsp;&nbsp;&nbsp; Sapiens International Corp. NV | 11587 | &nbsp;&nbsp; 504034 |
| &nbsp;&nbsp;&nbsp; Schrodinger, Inc.† | 22178 | &nbsp;&nbsp; 267467 |
| &nbsp;&nbsp;&nbsp; SEMrush Holdings, Inc., Class A† | 21502 | &nbsp;&nbsp; 254154 |
| &nbsp;&nbsp;&nbsp; Silvaco Group, Inc.#† | 3366 | &nbsp;&nbsp; 11310 |
| &nbsp;&nbsp;&nbsp; Simulations Plus, Inc.#† | 6949 | &nbsp;&nbsp; 84986 |
| &nbsp;&nbsp;&nbsp; Skillsoft Corp.#† | 1813 | &nbsp;&nbsp; 7596 |
| &nbsp;&nbsp;&nbsp; SoundHound AI, Inc., Class A#† | 150942 | &nbsp;&nbsp; 1298101 |
| &nbsp;&nbsp;&nbsp; Sprout Social, Inc., Class A† | 22102 | &nbsp;&nbsp; 142558 |
| &nbsp;&nbsp;&nbsp; SPS Commerce, Inc.† | 15439 | &nbsp;&nbsp; 872458 |
| &nbsp;&nbsp;&nbsp; Talkspace, Inc.† | 59989 | &nbsp;&nbsp; 289147 |
| &nbsp;&nbsp;&nbsp; Vertex, Inc., Class A† | 27635 | &nbsp;&nbsp; 400155 |
| &nbsp;&nbsp;&nbsp; Via Transportation, Inc.#† | 3754 | &nbsp;&nbsp; 64494 |
| &nbsp;&nbsp;&nbsp; Viant Technology, Inc., Class A† | 5661 | &nbsp;&nbsp; 57346 |
| &nbsp;&nbsp;&nbsp; VTEX, Class A† | 21787 | &nbsp;&nbsp; 74729 |
| &nbsp;&nbsp;&nbsp; Waystar Holding Corp.† | 44366 | &nbsp;&nbsp; 1137988 |
| &nbsp;&nbsp;&nbsp; Weave Communications, Inc.#† | 26138 | &nbsp;&nbsp; 131736 |
| &nbsp;&nbsp;&nbsp; Whitefiber, Inc.† | 3977 | &nbsp;&nbsp; 67012 |
| &nbsp;&nbsp;&nbsp; WM Technology, Inc.† | 35509 | &nbsp;&nbsp; 23738 |
| &nbsp;&nbsp;&nbsp; Workiva, Inc.† | 20229 | &nbsp;&nbsp; 1245702 |
| &nbsp;&nbsp;&nbsp; Yext, Inc.† | 41617 | &nbsp;&nbsp; 236385 |
| &nbsp;&nbsp;&nbsp; Zeta Global Holdings Corp., Class A#† | 75853 | &nbsp;&nbsp; 1285708 |
| &nbsp;&nbsp;&nbsp; Zspace, Inc.† | 1745 | &nbsp;&nbsp; 461 |
|  |  | &nbsp;&nbsp; 49908850 |
| **Telecommunications — 3.1%** | **Telecommunications — 3.1%** | **Telecommunications — 3.1%** |
| &nbsp;&nbsp;&nbsp; A10 Networks, Inc. | 29597 | &nbsp;&nbsp; 570038 |
| &nbsp;&nbsp;&nbsp; ADTRAN Holdings, Inc.† | 29294 | &nbsp;&nbsp; 298799 |
| &nbsp;&nbsp;&nbsp; Anterix, Inc.#† | 4245 | &nbsp;&nbsp; 156683 |
| &nbsp;&nbsp;&nbsp; Applied Digital Corp.#† | 95587 | &nbsp;&nbsp; 2606657 |
| &nbsp;&nbsp;&nbsp; ATN International, Inc. | 4511 | &nbsp;&nbsp; 130007 |
| &nbsp;&nbsp;&nbsp; Aviat Networks, Inc.† | 4527 | &nbsp;&nbsp; 113356 |
| &nbsp;&nbsp;&nbsp; BK Technologies Corp.† | 1104 | &nbsp;&nbsp; 96147 |
| &nbsp;&nbsp;&nbsp; BlackSky Technology, Inc.#† | 12243 | &nbsp;&nbsp; 230781 |
| &nbsp;&nbsp;&nbsp; Calix, Inc.† | 24241 | &nbsp;&nbsp; 1254957 |
| &nbsp;&nbsp;&nbsp; Clearfield, Inc.† | 4540 | &nbsp;&nbsp; 142738 |
| &nbsp;&nbsp;&nbsp; Credo Technology Group Holding, Ltd.† | 61693 | &nbsp;&nbsp; 6926273 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A† | 54530 | &nbsp;&nbsp; 6299851 |
| &nbsp;&nbsp;&nbsp; Extreme Networks, Inc.† | 53779 | &nbsp;&nbsp; 751830 |
| &nbsp;&nbsp;&nbsp; Frequency Electronics, Inc.† | 2676 | &nbsp;&nbsp; 134362 |
| &nbsp;&nbsp;&nbsp; Globalstar, Inc.#† | 20183 | &nbsp;&nbsp; 1256795 |
| &nbsp;&nbsp;&nbsp; Gogo, Inc.† | 31036 | &nbsp;&nbsp; 131282 |
| &nbsp;&nbsp;&nbsp; Harmonic, Inc.† | 45616 | &nbsp;&nbsp; 484898 |
| &nbsp;&nbsp;&nbsp; IDT Corp., Class B | 6515 | &nbsp;&nbsp; 331939 |
| &nbsp;&nbsp;&nbsp; Inseego Corp.#† | 5048 | &nbsp;&nbsp; 62343 |
| &nbsp;&nbsp;&nbsp; InterDigital, Inc.# | 10418 | &nbsp;&nbsp; 3818509 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.† | 383572 | &nbsp;&nbsp; 2727197 |
| &nbsp;&nbsp;&nbsp; NETGEAR, Inc.† | 11717 | &nbsp;&nbsp; 241605 |
| &nbsp;&nbsp;&nbsp; Ooma, Inc.† | 9708 | &nbsp;&nbsp; 119991 |
| &nbsp;&nbsp;&nbsp; Powerfleet, Inc.#† | 48155 | &nbsp;&nbsp; 171913 |
| &nbsp;&nbsp;&nbsp; Preformed Line Products Co. | 1021 | &nbsp;&nbsp; 258977 |
| &nbsp;&nbsp;&nbsp; Ribbon Communications, Inc.† | 35512 | &nbsp;&nbsp; 79192 |
| &nbsp;&nbsp;&nbsp; Satellogic, Inc.† | 34954 | &nbsp;&nbsp; 104862 |
| &nbsp;&nbsp;&nbsp; Shenandoah Telecommunications Co. | 21441 | &nbsp;&nbsp; 292241 |
| &nbsp;&nbsp;&nbsp; Spok Holdings, Inc. | 7742 | &nbsp;&nbsp; 93988 |
| &nbsp;&nbsp;&nbsp; Telephone & Data Systems, Inc. | 40021 | &nbsp;&nbsp; 1790940 |
| &nbsp;&nbsp;&nbsp; Uniti Group, Inc.† | 67230 | &nbsp;&nbsp; 492124 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc.† | 49776 | &nbsp;&nbsp; 2278745 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; Viavi Solutions, Inc.† | 89018 | &nbsp;&nbsp; $2644725 |
| &nbsp;&nbsp;&nbsp; Vistance Networks, Inc.† | 87755 | &nbsp;&nbsp; 1541855 |
|  |  | &nbsp;&nbsp; 38636600 |
| **Textiles — 0.1%** | **Textiles — 0.1%** | **Textiles — 0.1%** |
| &nbsp;&nbsp;&nbsp; UniFirst Corp. | 5887 | &nbsp;&nbsp; 1382385 |
| **Therapeutics — 0.0%** | **Therapeutics — 0.0%** | **Therapeutics — 0.0%** |
| &nbsp;&nbsp;&nbsp; Tobira Therapeutics, Inc. CVR†(1) | 4989 | &nbsp;&nbsp; 0 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp; Funko, Inc., Class A† | 14563 | &nbsp;&nbsp; 72815 |
| &nbsp;&nbsp;&nbsp; JAKKS Pacific, Inc. | 3625 | &nbsp;&nbsp; 79243 |
|  |  | &nbsp;&nbsp; 152058 |
| **Transportation — 1.3%** | **Transportation — 1.3%** | **Transportation — 1.3%** |
| &nbsp;&nbsp;&nbsp; ArcBest Corp.# | 9227 | &nbsp;&nbsp; 947244 |
| &nbsp;&nbsp;&nbsp; Ardmore Shipping Corp. | 14773 | &nbsp;&nbsp; 241982 |
| &nbsp;&nbsp;&nbsp; Costamare Bulkers Holdings, Ltd.† | 3406 | &nbsp;&nbsp; 64986 |
| &nbsp;&nbsp;&nbsp; Costamare, Inc. | 18335 | &nbsp;&nbsp; 322146 |
| &nbsp;&nbsp;&nbsp; Covenant Logistics Group, Inc. | 6447 | &nbsp;&nbsp; 189800 |
| &nbsp;&nbsp;&nbsp; CryoPort, Inc.† | 19262 | &nbsp;&nbsp; 162186 |
| &nbsp;&nbsp;&nbsp; DHT Holdings, Inc. | 54779 | &nbsp;&nbsp; 1067643 |
| &nbsp;&nbsp;&nbsp; Dorian LPG, Ltd. | 14645 | &nbsp;&nbsp; 541719 |
| &nbsp;&nbsp;&nbsp; FLEX LNG, Ltd.# | 12818 | &nbsp;&nbsp; 350188 |
| &nbsp;&nbsp;&nbsp; Forward Air Corp.#† | 8908 | &nbsp;&nbsp; 225283 |
| &nbsp;&nbsp;&nbsp; Genco Shipping & Trading, Ltd. | 12767 | &nbsp;&nbsp; 307046 |
| &nbsp;&nbsp;&nbsp; Heartland Express, Inc. | 17062 | &nbsp;&nbsp; 188194 |
| &nbsp;&nbsp;&nbsp; Himalaya Shipping, Ltd.# | 11116 | &nbsp;&nbsp; 163516 |
| &nbsp;&nbsp;&nbsp; Hub Group, Inc., Class A | 24143 | &nbsp;&nbsp; 1039839 |
| &nbsp;&nbsp;&nbsp; International Seaways, Inc. | 16219 | &nbsp;&nbsp; 1225021 |
| &nbsp;&nbsp;&nbsp; Marten Transport, Ltd. | 24236 | &nbsp;&nbsp; 329367 |
| &nbsp;&nbsp;&nbsp; Matson, Inc. | 12642 | &nbsp;&nbsp; 2100215 |
| &nbsp;&nbsp;&nbsp; Navigator Holdings, Ltd. | 12757 | &nbsp;&nbsp; 268152 |
| &nbsp;&nbsp;&nbsp; Nordic American Tankers, Ltd. | 84768 | &nbsp;&nbsp; 485721 |
| &nbsp;&nbsp;&nbsp; PAMT Corp.#† | 2449 | &nbsp;&nbsp; 24588 |
| &nbsp;&nbsp;&nbsp; Pangaea Logistics Solutions, Ltd. | 11788 | &nbsp;&nbsp; 110218 |
| &nbsp;&nbsp;&nbsp; Proficient Auto Logistics, Inc.† | 9715 | &nbsp;&nbsp; 73543 |
| &nbsp;&nbsp;&nbsp; Radiant Logistics, Inc.† | 13483 | &nbsp;&nbsp; 100044 |
| &nbsp;&nbsp;&nbsp; RXO, Inc.† | 65649 | &nbsp;&nbsp; 1047758 |
| &nbsp;&nbsp;&nbsp; Safe Bulkers, Inc. | 23061 | &nbsp;&nbsp; 151280 |
| &nbsp;&nbsp;&nbsp; Scorpio Tankers, Inc. | 18153 | &nbsp;&nbsp; 1435539 |
| &nbsp;&nbsp;&nbsp; SFL Corp., Ltd.# | 49636 | &nbsp;&nbsp; 546492 |
| &nbsp;&nbsp;&nbsp; Teekay Corp., Ltd. | 22382 | &nbsp;&nbsp; 289847 |
| &nbsp;&nbsp;&nbsp; Teekay Tankers, Ltd., Class A# | 9802 | &nbsp;&nbsp; 767203 |
| &nbsp;&nbsp;&nbsp; Universal Logistics Holdings, Inc.# | 2748 | &nbsp;&nbsp; 45699 |
| &nbsp;&nbsp;&nbsp; Werner Enterprises, Inc. | 24336 | &nbsp;&nbsp; 853950 |
| &nbsp;&nbsp;&nbsp; World Kinect Corp. | 21598 | &nbsp;&nbsp; 538870 |
|  |  | &nbsp;&nbsp; 16205279 |
| **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** |
| &nbsp;&nbsp;&nbsp; GATX Corp. | 14439 | &nbsp;&nbsp; 2659231 |
| &nbsp;&nbsp;&nbsp; Greenbrier Cos., Inc. | 11988 | &nbsp;&nbsp; 676363 |
| &nbsp;&nbsp;&nbsp; Willis Lease Finance Corp. | 1093 | &nbsp;&nbsp; 222655 |
|  |  | &nbsp;&nbsp; 3558249 |
| **Water — 0.3%** | **Water — 0.3%** | **Water — 0.3%** |
| &nbsp;&nbsp;&nbsp; H2O America | 13592 | &nbsp;&nbsp; 731114 |
| &nbsp;&nbsp;&nbsp; American States Water Co. | 15586 | &nbsp;&nbsp; 1161625 |
| &nbsp;&nbsp;&nbsp; California Water Service Group | 24104 | &nbsp;&nbsp; 1086608 |
| &nbsp;&nbsp;&nbsp; Consolidated Water Co., Ltd. | 5799 | &nbsp;&nbsp; 219492 |
| &nbsp;&nbsp;&nbsp; Global Water Resources, Inc. | 5047 | &nbsp;&nbsp; 46231 |

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Water (continued)** | **Water (continued)** | **Water (continued)** |
| &nbsp;&nbsp;&nbsp; Middlesex Water Co.# | 7205 | &nbsp;&nbsp; $389070 |
| &nbsp;&nbsp;&nbsp; York Water Co.# | 5539 | &nbsp;&nbsp; 182122 |
|  |  | &nbsp;&nbsp; 3816262 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $908,535,463)<br>|  | &nbsp;&nbsp; 1219796757 |
| **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** | **ESCROWS AND LITIGATION TRUSTS — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Third Harmonic Bio, Inc. †(1) <br>(cost $4,083)<br>| $10213 | &nbsp;&nbsp; 307 |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |
| **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** | **Oil & Gas — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Empire Petroleum Corp. <br>Expires 03/30/2026, Strike Price USD 2.99† <br>(cost $0)<br>| 5961 | &nbsp;&nbsp; 105 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $908,539,546)<br>|  | &nbsp;&nbsp; 1219797169 |
| **SHORT-TERM INVESTMENTS — 3.0%** | **SHORT-TERM INVESTMENTS — 3.0%** | **SHORT-TERM INVESTMENTS — 3.0%** |
| **Unaffiliated Investment Companies — 3.0%** | **Unaffiliated Investment Companies — 3.0%** | **Unaffiliated Investment Companies — 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class <br>3.63%(2)<br>| 14189780 | &nbsp;&nbsp; 14189780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(2)(3)<br>| 23689576 | &nbsp;&nbsp; 23689576 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $37,879,356)<br>|  | &nbsp;&nbsp; 37879356 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $946,418,902)<br>| 101.1<br> %<br>| &nbsp;&nbsp; 1257676525 |
| Other assets less liabilities | (1.1)<br>| &nbsp;&nbsp; (13692600)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $1243983925 |

---

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

# The security or a portion thereof is out on loan. <br> † Non-income producing security

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Securities classified as Level 3 (see Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(3) At February 28, 2026, the Fund had loaned securities with a total value of $88,179,354. This was secured by collateral of $23,689,576, which was received in cash and subsequently invested in short-term investments currently valued at $23,689,576 as reported in the Portfolio of Investments. Additional collateral of $70,059,665 was received in the form of fixed income pooled securities, which the Fund cannot sell
 or repledge and accordingly, are not reflected in the Fund's assets and liabilities.
 The components of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $41471 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 208795 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 1340817 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 11/15/2055 | 68468582 |

---

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

CVR—Contingent Value Rights<br>

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** | **Contracts For Difference Swaps** |
| **Counterparty** | **Pay/** <br>**Receive**<br>| &nbsp;&nbsp; **Underlying** <br>**Reference**<br>| **Number of** <br>**Contracts**<br>| **Financing** <br>**Rate**<br>| **Payment** <br>**Frequency**<br>| **Maturity** <br>**Date**<br>| **Notional** <br>**Amount**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)**<br>| **Value** |
| **Banks** |  |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | Pay | Bank of Hawaii Corp. | &nbsp;&nbsp; 1488 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; $117926 | &nbsp;&nbsp; $(5180)<br>| &nbsp;&nbsp; $(5180)<br>|
| Bank of America Merrill Lynch | Pay | Pathward Financial, Inc. | &nbsp;&nbsp; 678 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 64127 | &nbsp;&nbsp; (2572)<br>| &nbsp;&nbsp; (2572)<br>|
| Bank of America Merrill Lynch | Pay | United Community Banks, Inc. | &nbsp;&nbsp; 5069 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 176664 | &nbsp;&nbsp; (13594)<br>| &nbsp;&nbsp; (13594)<br>|
| Bank of America Merrill Lynch | Pay | &nbsp;&nbsp; National Bank Holdings Corp. <br> CL<br>| &nbsp;&nbsp; 613 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 25587 | &nbsp;&nbsp; (1073)<br>| &nbsp;&nbsp; (1073)<br>|
| Bank of America Merrill Lynch | Pay | TrustCo. Bank Corp. | &nbsp;&nbsp; 579 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 26605 | &nbsp;&nbsp; (1494)<br>| &nbsp;&nbsp; (1494)<br>|
| Goldman Sachs & Co. LLC | Pay | First BanCorp | &nbsp;&nbsp; 1105 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 25119 | &nbsp;&nbsp; (1771)<br>| &nbsp;&nbsp; (1771)<br>|
| Goldman Sachs & Co. LLC | Pay | Fulton Financial Corp. | &nbsp;&nbsp; 1212 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 27140 | &nbsp;&nbsp; (2354)<br>| &nbsp;&nbsp; (2354)<br>|
| Goldman Sachs & Co. LLC | Pay | Hanmi Financial Corp. | &nbsp;&nbsp; 910 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 24927 | &nbsp;&nbsp; (1167)<br>| &nbsp;&nbsp; (1167)<br>|
| Goldman Sachs & Co. LLC | Pay | OFG Bancorp | &nbsp;&nbsp; 592 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 25256 | &nbsp;&nbsp; (1529)<br>| &nbsp;&nbsp; (1529)<br>|
| Goldman Sachs & Co. LLC | Pay | Customers Bancorp, Inc. | &nbsp;&nbsp; 347 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 25318 | &nbsp;&nbsp; (1916)<br>| &nbsp;&nbsp; (1916)<br>|
| HSBC Holdings | Pay | Central Pacific Financial Corp. | &nbsp;&nbsp; 756 | 4.04% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/09/2028 | &nbsp;&nbsp; 25984 | &nbsp;&nbsp; (1905)<br>| &nbsp;&nbsp; (1905)<br>|
| HSBC Holdings | Pay | BankUnited, Inc. | &nbsp;&nbsp; 1388 | 4.04% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/09/2028 | &nbsp;&nbsp; 69964 | &nbsp;&nbsp; (5145)<br>| &nbsp;&nbsp; (5145)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (39700)<br>| &nbsp;&nbsp; (39700)<br>|
| **Savings & Loans** |  |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | Pay | Beacon Financial Corp. | &nbsp;&nbsp; 3175 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 98089 | &nbsp;&nbsp; (3665)<br>| &nbsp;&nbsp; (3665)<br>|
| Bank of America Merrill Lynch | Pay | WSFS Financial Corp. | &nbsp;&nbsp; 839 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 56456 | &nbsp;&nbsp; (3171)<br>| &nbsp;&nbsp; (3171)<br>|

---

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** | **Contracts For Difference Swaps — (continued)** |
| **Counterparty** | **Pay/**<br> **Receive**<br>| &nbsp;&nbsp; **Underlying**<br> **Reference**<br>| **Number of**<br> **Contracts**<br>| **Financing**<br> **Rate**<br>| **Payment**<br> **Frequency**<br>| **Maturity**<br> **Date**<br>| **Notional**<br> **Amount**<br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br>| **Value** |
| Bank of America Merrill Lynch | Pay | WaFd, Inc. | &nbsp;&nbsp; 3066 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; $101423 | &nbsp;&nbsp; $(5886)<br>| &nbsp;&nbsp; $(5886)<br>|
| JPMorgan Securities, LLC | Pay | &nbsp;&nbsp; Provident Financial Services, <br> Inc.<br>| &nbsp;&nbsp; 6276 | 3.83% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 02/10/2026 | &nbsp;&nbsp; 147811 | &nbsp;&nbsp; (15764)<br>| &nbsp;&nbsp; (15764)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (28486)<br>| &nbsp;&nbsp; (28486)<br>|
| **Office/Business Equipment** |  |  |  |  |  |  |  |  |  |
| BNP Paribas | Pay | Pitney Bowes, Inc. | &nbsp;&nbsp; 22309 | 3.83% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 05/24/2027 | &nbsp;&nbsp; 229083 | &nbsp;&nbsp; 10293 | &nbsp;&nbsp; 10293 |
| Goldman Sachs & Co. LLC | Pay | Preferred Bank | &nbsp;&nbsp; 4726 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 434177 | &nbsp;&nbsp; (19613)<br>| &nbsp;&nbsp; (19613)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (9320)<br>| &nbsp;&nbsp; (9320)<br>|
| **Diversified Financial Services** |  |  |  |  |  |  |  |  |  |
| BNP Paribas | Pay | Moelis & Co., Class A | &nbsp;&nbsp; 10935 | 3.83% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 05/24/2027 | &nbsp;&nbsp; 689117 | &nbsp;&nbsp; (40015)<br>| &nbsp;&nbsp; (40015)<br>|
| HSBC Holdings | Pay | Bread Financial Holdings, Inc. | &nbsp;&nbsp; 12572 | 4.04% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/09/2028 | &nbsp;&nbsp; 977700 | &nbsp;&nbsp; (86848)<br>| &nbsp;&nbsp; (86848)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (126863)<br>| &nbsp;&nbsp; (126863)<br>|
| **REITS** |  |  |  |  |  |  |  |  |  |
| BNP Paribas | Pay | Arbor Realty Trust, Inc. | &nbsp;&nbsp; 13792 | 3.83% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 05/24/2027 | &nbsp;&nbsp; 101095 | &nbsp;&nbsp; 8275 | &nbsp;&nbsp; 8275 |
| HSBC Holdings | Pay | Douglas Emmett, Inc. | &nbsp;&nbsp; 10527 | 4.04% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/09/2028 | &nbsp;&nbsp; 110846 | &nbsp;&nbsp; (6733)<br>| &nbsp;&nbsp; (6733)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; 1542 | &nbsp;&nbsp; 1542 |
| **Insurance** |  |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | Pay | Genworth Financial, Inc., | &nbsp;&nbsp; 15349 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 137432 | &nbsp;&nbsp; (7887)<br>| &nbsp;&nbsp; (7887)<br>|
| Bank of America Merrill Lynch | Pay | SiriusPoint, Ltd. | &nbsp;&nbsp; 5531 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 116624 | &nbsp;&nbsp; 301 | &nbsp;&nbsp; 301 |
| HSBC Holdings | Pay | SiriusPoint, Ltd. | &nbsp;&nbsp; 10576 | 4.04% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/09/2028 | &nbsp;&nbsp; 207713 | &nbsp;&nbsp; 15864 | &nbsp;&nbsp; 15864 |
| JPMorgan Securities, LLC | Pay | Jackson Financial, Inc. | &nbsp;&nbsp; 27853 | 3.83% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 02/10/2026 | &nbsp;&nbsp; 3311956 | &nbsp;&nbsp; (262610)<br>| &nbsp;&nbsp; (262610)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (254332)<br>| &nbsp;&nbsp; (254332)<br>|
| **Commercial Services** |  |  |  |  |  |  |  |  |  |
| Bank of America Merrill Lynch | Pay | Perdoceo Education Corp. | &nbsp;&nbsp; 2359 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 75825 | &nbsp;&nbsp; 2847 | &nbsp;&nbsp; 2847 |
| Bank of America Merrill Lynch | Pay | Payoneer Global, Inc. | &nbsp;&nbsp; 8370 | 4.03% (OBFR + 0.40%) | Monthly | &nbsp;&nbsp; 02/15/2028 | &nbsp;&nbsp; 44780 | &nbsp;&nbsp; (8621)<br>| &nbsp;&nbsp; (8621)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; (5774)<br>| &nbsp;&nbsp; (5774)<br>|
| **Leisure Time** |  |  |  |  |  |  |  |  |  |
| Goldman Sachs & Co. LLC | Pay | OneSpaWorld Holdings, Ltd. | &nbsp;&nbsp; 1112 | 3.84% (OBFR + 0.20%) | Monthly | &nbsp;&nbsp; 08/18/2026 | &nbsp;&nbsp; 25001 | &nbsp;&nbsp; (1059)<br>| &nbsp;&nbsp; (1059)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; $(463992)<br>| &nbsp;&nbsp; $(463992)<br>|
| &nbsp;&nbsp;&nbsp; OBFR—Overnight Bank <br> Funding Rate<br>|  |  |  |  |  |  |  |  |  |

---

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 61 | Long | E-Mini Russell 2000 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $8132917 | &nbsp;&nbsp;&nbsp;&nbsp; $8035835 | &nbsp;&nbsp;&nbsp;&nbsp; $(97082)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

------

**VALIC Company I Small Cap Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; $102214798 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $58708 | &nbsp;&nbsp; $102273506 |
| &nbsp;&nbsp;&nbsp; Oil & Gas | &nbsp;&nbsp; 32761866 | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 32761866 |
| &nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp; 32491573 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3236 | &nbsp;&nbsp; 32494809 |
| &nbsp;&nbsp;&nbsp; Therapeutics | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Other Industries | &nbsp;&nbsp; 1052266576 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1052266576 |
| Escrows and Litigation Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 307 | &nbsp;&nbsp; 307 |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; 105 | &nbsp;&nbsp; — | &nbsp;&nbsp; 105 |
| Short-Term Investments | &nbsp;&nbsp; 37879356 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 37879356 |
| **Total Investments at Value** | &nbsp;&nbsp; $1257614169 | &nbsp;&nbsp; $105 | &nbsp;&nbsp; $62251 | &nbsp;&nbsp; $1257676525 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $37580 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $37580 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Swaps | &nbsp;&nbsp; $— | &nbsp;&nbsp; $501572 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $501572 |
| Futures Contracts | &nbsp;&nbsp; 97082 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 97082 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; $97082 | &nbsp;&nbsp; $501572 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $598654 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Small Cap Special Values Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 96.8%** | **COMMON STOCKS — 96.8%** | **COMMON STOCKS — 96.8%** |
| **Apparel — 1.4%** | **Apparel — 1.4%** | **Apparel — 1.4%** |
| &nbsp;&nbsp;&nbsp; Capri Holdings, Ltd.† | 24161 | &nbsp;&nbsp; $495542 |
| &nbsp;&nbsp;&nbsp; Levi Strauss & Co., Class A | 43933 | &nbsp;&nbsp; 973555 |
| &nbsp;&nbsp;&nbsp; Steven Madden, Ltd. | 28922 | &nbsp;&nbsp; 1044084 |
|  |  | &nbsp;&nbsp; 2513181 |
| **Auto Parts & Equipment — 3.6%** | **Auto Parts & Equipment — 3.6%** | **Auto Parts & Equipment — 3.6%** |
| &nbsp;&nbsp;&nbsp; Douglas Dynamics, Inc. | 74819 | &nbsp;&nbsp; 3435689 |
| &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. | 41769 | &nbsp;&nbsp; 850417 |
| &nbsp;&nbsp;&nbsp; Holley, Inc.† | 327555 | &nbsp;&nbsp; 1336424 |
| &nbsp;&nbsp;&nbsp; Visteon Corp. | 6611 | &nbsp;&nbsp; 632474 |
|  |  | &nbsp;&nbsp; 6255004 |
| **Banks — 11.4%** | **Banks — 11.4%** | **Banks — 11.4%** |
| &nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 52968 | &nbsp;&nbsp; 1398885 |
| &nbsp;&nbsp;&nbsp; BOK Financial Corp. | 8692 | &nbsp;&nbsp; 1092758 |
| &nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 58894 | &nbsp;&nbsp; 3875814 |
| &nbsp;&nbsp;&nbsp; Old National Bancorp | 83328 | &nbsp;&nbsp; 1924877 |
| &nbsp;&nbsp;&nbsp; Renasant Corp. | 58866 | &nbsp;&nbsp; 2216305 |
| &nbsp;&nbsp;&nbsp; SouthState Bank Corp. | 39966 | &nbsp;&nbsp; 3943445 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | 47588 | &nbsp;&nbsp; 5514498 |
|  |  | &nbsp;&nbsp; 19966582 |
| **Building Materials — 6.4%** | **Building Materials — 6.4%** | **Building Materials — 6.4%** |
| &nbsp;&nbsp;&nbsp; Eagle Materials, Inc. | 16953 | &nbsp;&nbsp; 3794081 |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., Inc. | 11094 | &nbsp;&nbsp; 2147466 |
| &nbsp;&nbsp;&nbsp; Titan America SA | 82289 | &nbsp;&nbsp; 1491077 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 37233 | &nbsp;&nbsp; 3831648 |
|  |  | &nbsp;&nbsp; 11264272 |
| **Chemicals — 6.6%** | **Chemicals — 6.6%** | **Chemicals — 6.6%** |
| &nbsp;&nbsp;&nbsp; Ecovyst, Inc.† | 140857 | &nbsp;&nbsp; 1587458 |
| &nbsp;&nbsp;&nbsp; Ingevity Corp.† | 3150 | &nbsp;&nbsp; 226894 |
| &nbsp;&nbsp;&nbsp; Innospec, Inc. | 71582 | &nbsp;&nbsp; 5481750 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. | 140209 | &nbsp;&nbsp; 1519866 |
| &nbsp;&nbsp;&nbsp; Minerals Technologies, Inc. | 14229 | &nbsp;&nbsp; 1004852 |
| &nbsp;&nbsp;&nbsp; NewMarket Corp. | 687 | &nbsp;&nbsp; 430069 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 8992 | &nbsp;&nbsp; 1322094 |
|  |  | &nbsp;&nbsp; 11572983 |
| **Commercial Services — 3.9%** | **Commercial Services — 3.9%** | **Commercial Services — 3.9%** |
| &nbsp;&nbsp;&nbsp; CBIZ, Inc.† | 11089 | &nbsp;&nbsp; 317589 |
| &nbsp;&nbsp;&nbsp; Custom Truck One Source, Inc.† | 123438 | &nbsp;&nbsp; 883816 |
| &nbsp;&nbsp;&nbsp; Ennis, Inc. | 58945 | &nbsp;&nbsp; 1244329 |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co., Class B | 498 | &nbsp;&nbsp; 524499 |
| &nbsp;&nbsp;&nbsp; Korn Ferry | 46827 | &nbsp;&nbsp; 2934648 |
| &nbsp;&nbsp;&nbsp; Matthews International Corp., Class A# | 37917 | &nbsp;&nbsp; 1002146 |
|  |  | &nbsp;&nbsp; 6907027 |
| **Computers — 2.0%** | **Computers — 2.0%** | **Computers — 2.0%** |
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf, Inc.† | 23998 | &nbsp;&nbsp; 1919840 |
| &nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.† | 9158 | &nbsp;&nbsp; 765243 |
| &nbsp;&nbsp;&nbsp; Maximus, Inc. | 11376 | &nbsp;&nbsp; 860139 |
|  |  | &nbsp;&nbsp; 3545222 |
| **Cosmetics/Personal Care — 2.0%** | **Cosmetics/Personal Care — 2.0%** | **Cosmetics/Personal Care — 2.0%** |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc.† | 49844 | &nbsp;&nbsp; 3454189 |
| **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; GlassBridge Enterprises, Inc.#†(1)(2) | 292 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; Lazard, Inc. | 7050 | &nbsp;&nbsp; 356730 |
| &nbsp;&nbsp;&nbsp; Marex Group PLC | 29526 | &nbsp;&nbsp; 1283200 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Streamex Corp.#† | 49130 | &nbsp;&nbsp; $109069 |
| &nbsp;&nbsp;&nbsp; Westwood Holdings Group, Inc. | 21233 | &nbsp;&nbsp; 355865 |
|  |  | &nbsp;&nbsp; 2104864 |
| **Electrical Components & Equipment — 4.1%** | **Electrical Components & Equipment — 4.1%** | **Electrical Components & Equipment — 4.1%** |
| &nbsp;&nbsp;&nbsp; Belden, Inc. | 26931 | &nbsp;&nbsp; 3859212 |
| &nbsp;&nbsp;&nbsp; Novanta, Inc.#† | 24168 | &nbsp;&nbsp; 3248904 |
|  |  | &nbsp;&nbsp; 7108116 |
| **Electronics — 2.1%** | **Electronics — 2.1%** | **Electronics — 2.1%** |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. | 11327 | &nbsp;&nbsp; 730931 |
| &nbsp;&nbsp;&nbsp; Ingram Micro Holding Corp.# | 34104 | &nbsp;&nbsp; 705612 |
| &nbsp;&nbsp;&nbsp; Knowles Corp.† | 39944 | &nbsp;&nbsp; 1085278 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp.† | 7000 | &nbsp;&nbsp; 1086820 |
|  |  | &nbsp;&nbsp; 3608641 |
| **Entertainment — 1.0%** | **Entertainment — 1.0%** | **Entertainment — 1.0%** |
| &nbsp;&nbsp;&nbsp; Pursuit Attractions & Hospitality, Inc.† | 48221 | &nbsp;&nbsp; 1676162 |
| **Food — 4.1%** | **Food — 4.1%** | **Food — 4.1%** |
| &nbsp;&nbsp;&nbsp; J&J Snack Foods Corp. | 56068 | &nbsp;&nbsp; 4881280 |
| &nbsp;&nbsp;&nbsp; Nomad Foods, Ltd. | 148126 | &nbsp;&nbsp; 1624942 |
| &nbsp;&nbsp;&nbsp; Tootsie Roll Industries, Inc.# | 14816 | &nbsp;&nbsp; 625680 |
|  |  | &nbsp;&nbsp; 7131902 |
| **Gas — 0.7%** | **Gas — 0.7%** | **Gas — 0.7%** |
| &nbsp;&nbsp;&nbsp; MDU Resources Group, Inc. | 59439 | &nbsp;&nbsp; 1229198 |
| **Hand/Machine Tools — 3.3%** | **Hand/Machine Tools — 3.3%** | **Hand/Machine Tools — 3.3%** |
| &nbsp;&nbsp;&nbsp; Franklin Electric Co., Inc. | 58498 | &nbsp;&nbsp; 5827571 |
| **Healthcare-Products — 4.5%** | **Healthcare-Products — 4.5%** | **Healthcare-Products — 4.5%** |
| &nbsp;&nbsp;&nbsp; Azenta, Inc.#† | 31294 | &nbsp;&nbsp; 844312 |
| &nbsp;&nbsp;&nbsp; CONMED Corp. | 20332 | &nbsp;&nbsp; 935272 |
| &nbsp;&nbsp;&nbsp; Enovis Corp.† | 36740 | &nbsp;&nbsp; 935768 |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc., Class A† | 13441 | &nbsp;&nbsp; 1283078 |
| &nbsp;&nbsp;&nbsp; Haemonetics Corp.† | 27811 | &nbsp;&nbsp; 1760992 |
| &nbsp;&nbsp;&nbsp; UFP Technologies, Inc.† | 4198 | &nbsp;&nbsp; 884015 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp.† | 92681 | &nbsp;&nbsp; 1220609 |
|  |  | &nbsp;&nbsp; 7864046 |
| **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.† | 4352 | &nbsp;&nbsp; 776789 |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 2825 | &nbsp;&nbsp; 1158278 |
|  |  | &nbsp;&nbsp; 1935067 |
| **Household Products/Wares — 1.8%** | **Household Products/Wares — 1.8%** | **Household Products/Wares — 1.8%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 279621 | &nbsp;&nbsp; 1138058 |
| &nbsp;&nbsp;&nbsp; Quanex Building Products Corp. | 95282 | &nbsp;&nbsp; 1956139 |
|  |  | &nbsp;&nbsp; 3094197 |
| **Housewares — 2.0%** | **Housewares — 2.0%** | **Housewares — 2.0%** |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co.#† | 36118 | &nbsp;&nbsp; 1415464 |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co., Class A† | 57890 | &nbsp;&nbsp; 1999521 |
|  |  | &nbsp;&nbsp; 3414985 |
| **Insurance — 5.5%** | **Insurance — 5.5%** | **Insurance — 5.5%** |
| &nbsp;&nbsp;&nbsp; Abacus Global Management, Inc.# | 47209 | &nbsp;&nbsp; 431018 |
| &nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | 33374 | &nbsp;&nbsp; 1395367 |
| &nbsp;&nbsp;&nbsp; Hanover Insurance Group, Inc. | 11572 | &nbsp;&nbsp; 2090250 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. | 56419 | &nbsp;&nbsp; 4005185 |
| &nbsp;&nbsp;&nbsp; White Mountains Insurance Group, Ltd. | 760 | &nbsp;&nbsp; 1687588 |
|  |  | &nbsp;&nbsp; 9609408 |
| **Internet — 0.4%** | **Internet — 0.4%** | **Internet — 0.4%** |
| &nbsp;&nbsp;&nbsp; IAC, Inc.† | 20333 | &nbsp;&nbsp; 779160 |

---

------

**VALIC Company I Small Cap Special Values Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Investment Companies — 0.8%** | **Investment Companies — 0.8%** | **Investment Companies — 0.8%** |
| &nbsp;&nbsp;&nbsp; Bit Digital, Inc.#† | 127804 | &nbsp;&nbsp; $213433 |
| &nbsp;&nbsp;&nbsp; Compass Diversified Holdings | 156287 | &nbsp;&nbsp; 1170589 |
|  |  | &nbsp;&nbsp; 1384022 |
| **Lodging — 0.6%** | **Lodging — 0.6%** | **Lodging — 0.6%** |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | 11620 | &nbsp;&nbsp; 967133 |
| **Machinery-Diversified — 3.6%** | **Machinery-Diversified — 3.6%** | **Machinery-Diversified — 3.6%** |
| &nbsp;&nbsp;&nbsp; Alamo Group, Inc. | 19948 | &nbsp;&nbsp; 4259496 |
| &nbsp;&nbsp;&nbsp; CSW Industrials, Inc.# | 3036 | &nbsp;&nbsp; 893586 |
| &nbsp;&nbsp;&nbsp; Gates Industrial Corp. PLC† | 24721 | &nbsp;&nbsp; 681558 |
| &nbsp;&nbsp;&nbsp; Middleby Corp.† | 2622 | &nbsp;&nbsp; 442751 |
|  |  | &nbsp;&nbsp; 6277391 |
| **Metal Fabricate/Hardware — 4.5%** | **Metal Fabricate/Hardware — 4.5%** | **Metal Fabricate/Hardware — 4.5%** |
| &nbsp;&nbsp;&nbsp; Hillman Solutions Corp.† | 227377 | &nbsp;&nbsp; 1864491 |
| &nbsp;&nbsp;&nbsp; Janus International Group, Inc.† | 102912 | &nbsp;&nbsp; 716268 |
| &nbsp;&nbsp;&nbsp; Mayville Engineering Co., Inc.#† | 67264 | &nbsp;&nbsp; 1412544 |
| &nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 26369 | &nbsp;&nbsp; 3110487 |
| &nbsp;&nbsp;&nbsp; Standex International Corp. | 2859 | &nbsp;&nbsp; 749058 |
|  |  | &nbsp;&nbsp; 7852848 |
| **Miscellaneous Manufacturing — 3.5%** | **Miscellaneous Manufacturing — 3.5%** | **Miscellaneous Manufacturing — 3.5%** |
| &nbsp;&nbsp;&nbsp; Avient Corp. | 109512 | &nbsp;&nbsp; 4497658 |
| &nbsp;&nbsp;&nbsp; Myers Industries, Inc. | 74147 | &nbsp;&nbsp; 1658668 |
|  |  | &nbsp;&nbsp; 6156326 |
| **Oil & Gas — 4.0%** | **Oil & Gas — 4.0%** | **Oil & Gas — 4.0%** |
| &nbsp;&nbsp;&nbsp; California Resources Corp. | 9057 | &nbsp;&nbsp; 532914 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | 22848 | &nbsp;&nbsp; 2476038 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp., Class A | 98219 | &nbsp;&nbsp; 2732452 |
| &nbsp;&nbsp;&nbsp; Matador Resources Co. | 10074 | &nbsp;&nbsp; 517804 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | 90899 | &nbsp;&nbsp; 773550 |
|  |  | &nbsp;&nbsp; 7032758 |
| **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** | **Oil & Gas Services — 0.7%** |
| &nbsp;&nbsp;&nbsp; Forum Energy Technologies, Inc.† | 8545 | &nbsp;&nbsp; 495866 |
| &nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 24963 | &nbsp;&nbsp; 701211 |
|  |  | &nbsp;&nbsp; 1197077 |
| **Packaging & Containers — 3.8%** | **Packaging & Containers — 3.8%** | **Packaging & Containers — 3.8%** |
| &nbsp;&nbsp;&nbsp; Silgan Holdings, Inc. | 65260 | &nbsp;&nbsp; 3135743 |
| &nbsp;&nbsp;&nbsp; TriMas Corp. | 90548 | &nbsp;&nbsp; 3538616 |
|  |  | &nbsp;&nbsp; 6674359 |
| **REITS — 1.0%** | **REITS — 1.0%** | **REITS — 1.0%** |
| &nbsp;&nbsp;&nbsp; Adamas Trust, Inc. | 110133 | &nbsp;&nbsp; 907496 |
| &nbsp;&nbsp;&nbsp; Agree Realty Corp. | 11087 | &nbsp;&nbsp; 892282 |
|  |  | &nbsp;&nbsp; 1799778 |
| **Retail — 1.0%** | **Retail — 1.0%** | **Retail — 1.0%** |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. | 2721 | &nbsp;&nbsp; 886339 |
| &nbsp;&nbsp;&nbsp; La-Z-Boy, Inc. | 26609 | &nbsp;&nbsp; 950473 |
|  |  | &nbsp;&nbsp; 1836812 |
| **Semiconductors — 1.2%** | **Semiconductors — 1.2%** | **Semiconductors — 1.2%** |
| &nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc.† | 9463 | &nbsp;&nbsp; 781739 |
| &nbsp;&nbsp;&nbsp; Diodes, Inc.† | 8995 | &nbsp;&nbsp; 613729 |
| &nbsp;&nbsp;&nbsp; Onto Innovation, Inc.† | 3251 | &nbsp;&nbsp; 701858 |
|  |  | &nbsp;&nbsp; 2097326 |
| **Software — 1.0%** | **Software — 1.0%** | **Software — 1.0%** |
| &nbsp;&nbsp;&nbsp; Genius Sports, Ltd.† | 110872 | &nbsp;&nbsp; 688515 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Pattern Group, Inc., Class A† | 58491 | &nbsp;&nbsp; $615910 |
| &nbsp;&nbsp;&nbsp; Progress Software Corp.† | 12596 | &nbsp;&nbsp; 527521 |
|  |  | &nbsp;&nbsp; 1831946 |
| **Special Purpose Acquisition Company — 0.0%** | **Special Purpose Acquisition Company — 0.0%** | **Special Purpose Acquisition Company — 0.0%** |
| &nbsp;&nbsp;&nbsp; Pershing Square Tontine Holdings, Ltd.†(1) | 60410 | &nbsp;&nbsp; 0 |
| **Telecommunications — 0.9%** | **Telecommunications — 0.9%** | **Telecommunications — 0.9%** |
| &nbsp;&nbsp;&nbsp; Vistance Networks, Inc.† | 86049 | &nbsp;&nbsp; 1511881 |
| **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** | **Toys/Games/Hobbies — 0.2%** |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.† | 22606 | &nbsp;&nbsp; 383172 |
| **Transportation — 0.9%** | **Transportation — 0.9%** | **Transportation — 0.9%** |
| &nbsp;&nbsp;&nbsp; Werner Enterprises, Inc.# | 44892 | &nbsp;&nbsp; 1575260 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $151,947,705)<br>|  | &nbsp;&nbsp; 169439866 |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |
| **Special Purpose Acquisition Company — 0.0%** | **Special Purpose Acquisition Company — 0.0%** | **Special Purpose Acquisition Company — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pershing Square SPARC Holdings, Ltd.†(1)(2) <br>(cost $0)<br>| 15102 | &nbsp;&nbsp; 0 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $151,947,705)<br>|  | &nbsp;&nbsp; 169439866 |
| **SHORT-TERM INVESTMENTS — 4.3%** | **SHORT-TERM INVESTMENTS — 4.3%** | **SHORT-TERM INVESTMENTS — 4.3%** |
| **Unaffiliated Investment Companies — 4.3%** | **Unaffiliated Investment Companies — 4.3%** | **Unaffiliated Investment Companies — 4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(3)<br>| 5772555 | &nbsp;&nbsp; 5772555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(3)(4)<br>| 1698576 | &nbsp;&nbsp; 1698576 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $7,471,130)<br>|  | &nbsp;&nbsp; 7471131 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $159,418,835)<br>| 101.1<br> %<br>| &nbsp;&nbsp; 176910997 |
| Other assets less liabilities | (1.1)<br>| &nbsp;&nbsp; (1882432)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $175028565 |

---

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

† Non-income producing security <br> # The security or a portion thereof is out on loan.

------

**VALIC Company I Small Cap Special Values Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Securities classified as Level 3 (see Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) Denotes a restricted security that: (a) cannot be offered for public sale without
 first being registered, or being able to take advantage of an exemption from registration, under
 the Securities Act of 1933, as amended (the "1933 Act"); (b) is subject to a contractual restriction on public sales; or (c) is otherwise subject to a restriction on sales
 by operation of applicable law. Restricted securities are valued pursuant to Note 1.
 Certain restricted securities held by the Fund may not be sold except in exempt transactions
 or in a public offering registered under the 1933 Act. The Fund has no right to demand registration of these securities. The risk of investing in certain restricted securities
 is greater than the risk of investing in the securities of widely held, publicly traded companies. To the extent applicable, lack of a secondary market and resale restrictions may result in the inability of a Fund to sell a security at a fair price and may substantially delay the sale of the security. In addition, certain restricted securities may exhibit
 greater price volatility than securities for which secondary markets exist. As of February
 28, 2026, the Fund held the following restricted securities:

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Acquisition** <br>**Date**<br>| **Shares or** <br>**Principal** <br>**Amount**<br>| **Acquisition** <br>**Cost**<br>| **Value** | **Value** <br>**Per Share**<br>| **% of** <br>**Net Assets**<br>|
| **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** | **<u>Common Stocks</u>** |
| GlassBridge Enterprises, Inc. | 10/21/09 - 03/08/17 | 292 | $2541614 | $0 | $0.00 | 0.0<br> %<br>|
| **<u>Rights</u>** | **<u>Rights</u>** | **<u>Rights</u>** | **<u>Rights</u>** | **<u>Rights</u>** | **<u>Rights</u>** | **<u>Rights</u>** |
| &nbsp;&nbsp;&nbsp; Pershing Square SPARC <br> Holdings, Ltd.<br>| 07/26/22 | 15102 | 0 | 0 | 0.00 | 0.0 |
|  |  |  |  | $0 |  | 0.0<br> %\*\*<br>|

---

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

\*\* Amount represents the total value of the restricted securities divided by the net assets of the Fund and may not equal the sum of the individual percentages shown due to rounding. 

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

&nbsp;&nbsp;&nbsp;&nbsp;(3) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(4) At February 28, 2026, the Fund had loaned securities with a total value of $7,260,160. This was secured by collateral of $1,698,576, which was received in cash and subsequently invested in short-term investments currently valued at $1,698,576 as reported in the Portfolio of Investments. Additional collateral of $5,843,306 was
 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components
 of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $5909 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 29749 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 9854 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 08/15/2055 | 5797794 |

---

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Special Purpose Acquisition Company | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $0 |
| &nbsp;&nbsp;&nbsp; Other Industries | &nbsp;&nbsp; 169439866 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 169439866 |
| Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0 | &nbsp;&nbsp; 0 |
| Short-Term Investments | &nbsp;&nbsp; 7471131 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7471131 |
| **Total Investments at Value** | &nbsp;&nbsp; $176910997 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $176910997 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.7%** | **COMMON STOCKS — 97.7%** | **COMMON STOCKS — 97.7%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp; Stagwell, Inc.#† | 54371 | &nbsp;&nbsp; $262068 |
| **Aerospace/Defense — 0.6%** | **Aerospace/Defense — 0.6%** | **Aerospace/Defense — 0.6%** |
| &nbsp;&nbsp;&nbsp; AAR Corp.† | 4748 | &nbsp;&nbsp; 556323 |
| &nbsp;&nbsp;&nbsp; Mercury Systems, Inc.† | 9747 | &nbsp;&nbsp; 867776 |
| &nbsp;&nbsp;&nbsp; StandardAero, Inc.† | 7758 | &nbsp;&nbsp; 238946 |
|  |  | &nbsp;&nbsp; 1663045 |
| **Agriculture — 0.8%** | **Agriculture — 0.8%** | **Agriculture — 0.8%** |
| &nbsp;&nbsp;&nbsp; Andersons, Inc. | 16973 | &nbsp;&nbsp; 1108167 |
| &nbsp;&nbsp;&nbsp; Dole PLC | 35087 | &nbsp;&nbsp; 562795 |
| &nbsp;&nbsp;&nbsp; Fresh Del Monte Produce, Inc. | 4468 | &nbsp;&nbsp; 191811 |
| &nbsp;&nbsp;&nbsp; Turning Point Brands, Inc. | 1248 | &nbsp;&nbsp; 170964 |
|  |  | &nbsp;&nbsp; 2033737 |
| **Airlines — 0.4%** | **Airlines — 0.4%** | **Airlines — 0.4%** |
| &nbsp;&nbsp;&nbsp; SkyWest, Inc.† | 8091 | &nbsp;&nbsp; 842111 |
| &nbsp;&nbsp;&nbsp; Sun Country Airlines Holdings, Inc.† | 6878 | &nbsp;&nbsp; 135359 |
|  |  | &nbsp;&nbsp; 977470 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| &nbsp;&nbsp;&nbsp; Capri Holdings, Ltd.† | 31495 | &nbsp;&nbsp; 645963 |
| **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** | **Auto Manufacturers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Blue Bird Corp.† | 6552 | &nbsp;&nbsp; 381785 |
| **Auto Parts & Equipment — 1.6%** | **Auto Parts & Equipment — 1.6%** | **Auto Parts & Equipment — 1.6%** |
| &nbsp;&nbsp;&nbsp; Adient PLC† | 40953 | &nbsp;&nbsp; 995977 |
| &nbsp;&nbsp;&nbsp; Dana, Inc. | 23000 | &nbsp;&nbsp; 787520 |
| &nbsp;&nbsp;&nbsp; Garrett Motion, Inc. | 58593 | &nbsp;&nbsp; 1192953 |
| &nbsp;&nbsp;&nbsp; Motorcar Parts of America, Inc.† | 23026 | &nbsp;&nbsp; 238089 |
| &nbsp;&nbsp;&nbsp; Phinia, Inc. | 12127 | &nbsp;&nbsp; 880784 |
|  |  | &nbsp;&nbsp; 4095323 |
| **Banks — 15.6%** | **Banks — 15.6%** | **Banks — 15.6%** |
| &nbsp;&nbsp;&nbsp; 1st Source Corp. | 2331 | &nbsp;&nbsp; 156200 |
| &nbsp;&nbsp;&nbsp; Alerus Financial Corp. | 4085 | &nbsp;&nbsp; 97386 |
| &nbsp;&nbsp;&nbsp; Amerant Bancorp, Inc. | 10214 | &nbsp;&nbsp; 218069 |
| &nbsp;&nbsp;&nbsp; Ameris Bancorp | 18378 | &nbsp;&nbsp; 1427236 |
| &nbsp;&nbsp;&nbsp; Associated Banc-Corp. | 4087 | &nbsp;&nbsp; 107938 |
| &nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp. | 11504 | &nbsp;&nbsp; 426338 |
| &nbsp;&nbsp;&nbsp; Bank of N.T. Butterfield & Son, Ltd. | 29937 | &nbsp;&nbsp; 1519303 |
| &nbsp;&nbsp;&nbsp; BankUnited, Inc. | 23021 | &nbsp;&nbsp; 1075081 |
| &nbsp;&nbsp;&nbsp; BayCom Corp. | 1536 | &nbsp;&nbsp; 45158 |
| &nbsp;&nbsp;&nbsp; Bridgewater Bancshares, Inc.† | 13793 | &nbsp;&nbsp; 252136 |
| &nbsp;&nbsp;&nbsp; Burke & Herbert Financial Services Corp. | 1929 | &nbsp;&nbsp; 124305 |
| &nbsp;&nbsp;&nbsp; Business First Bancshares, Inc.# | 16523 | &nbsp;&nbsp; 451078 |
| &nbsp;&nbsp;&nbsp; Byline Bancorp, Inc. | 29862 | &nbsp;&nbsp; 931694 |
| &nbsp;&nbsp;&nbsp; Central Pacific Financial Corp. | 9513 | &nbsp;&nbsp; 302989 |
| &nbsp;&nbsp;&nbsp; ChoiceOne Financial Services, Inc. | 2528 | &nbsp;&nbsp; 72351 |
| &nbsp;&nbsp;&nbsp; CNB Financial Corp. | 17168 | &nbsp;&nbsp; 480876 |
| &nbsp;&nbsp;&nbsp; Community Trust Bancorp, Inc. | 6677 | &nbsp;&nbsp; 400887 |
| &nbsp;&nbsp;&nbsp; ConnectOne Bancorp, Inc. | 29343 | &nbsp;&nbsp; 778470 |
| &nbsp;&nbsp;&nbsp; Customers Bancorp, Inc.† | 13553 | &nbsp;&nbsp; 914014 |
| &nbsp;&nbsp;&nbsp; CVB Financial Corp. | 12051 | &nbsp;&nbsp; 231741 |
| &nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc. | 5202 | &nbsp;&nbsp; 168285 |
| &nbsp;&nbsp;&nbsp; Eastern Bankshares, Inc. | 73281 | &nbsp;&nbsp; 1433376 |
| &nbsp;&nbsp;&nbsp; Enterprise Financial Services Corp. | 20816 | &nbsp;&nbsp; 1188594 |
| &nbsp;&nbsp;&nbsp; Equity Bancshares, Inc., Class A | 11987 | &nbsp;&nbsp; 537977 |
| &nbsp;&nbsp;&nbsp; FB Financial Corp. | 2845 | &nbsp;&nbsp; 155593 |
| &nbsp;&nbsp;&nbsp; Financial Institutions, Inc. | 14517 | &nbsp;&nbsp; 455544 |
| &nbsp;&nbsp;&nbsp; First Bancorp | 2060 | &nbsp;&nbsp; 116987 |
| &nbsp;&nbsp;&nbsp; First BanCorp. | 32422 | &nbsp;&nbsp; 685077 |
| &nbsp;&nbsp;&nbsp; First Busey Corp. | 8670 | &nbsp;&nbsp; 219871 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; First Commonwealth Financial Corp. | 3813 | &nbsp;&nbsp; $66842 |
| &nbsp;&nbsp;&nbsp; First Financial Bancorp | 15405 | &nbsp;&nbsp; 432418 |
| &nbsp;&nbsp;&nbsp; First Financial Corp. | 11589 | &nbsp;&nbsp; 734279 |
| &nbsp;&nbsp;&nbsp; First Interstate BancSystem, Inc., Class A | 7479 | &nbsp;&nbsp; 258848 |
| &nbsp;&nbsp;&nbsp; First Merchants Corp. | 20239 | &nbsp;&nbsp; 790940 |
| &nbsp;&nbsp;&nbsp; First Mid Bancshares, Inc. | 13970 | &nbsp;&nbsp; 572910 |
| &nbsp;&nbsp;&nbsp; Five Star Bancorp | 7266 | &nbsp;&nbsp; 282865 |
| &nbsp;&nbsp;&nbsp; Glacier Bancorp, Inc. | 9429 | &nbsp;&nbsp; 428925 |
| &nbsp;&nbsp;&nbsp; Hancock Whitney Corp. | 12630 | &nbsp;&nbsp; 831180 |
| &nbsp;&nbsp;&nbsp; Hanmi Financial Corp. | 19739 | &nbsp;&nbsp; 515385 |
| &nbsp;&nbsp;&nbsp; HBT Financial, Inc. | 1799 | &nbsp;&nbsp; 48501 |
| &nbsp;&nbsp;&nbsp; Heritage Commerce Corp. | 75346 | &nbsp;&nbsp; 936551 |
| &nbsp;&nbsp;&nbsp; Hilltop Holdings, Inc. | 30331 | &nbsp;&nbsp; 1135289 |
| &nbsp;&nbsp;&nbsp; Home BancShares, Inc. | 12013 | &nbsp;&nbsp; 329877 |
| &nbsp;&nbsp;&nbsp; Horizon Bancorp, Inc. | 40471 | &nbsp;&nbsp; 681532 |
| &nbsp;&nbsp;&nbsp; Independent Bank Corp. | 3743 | &nbsp;&nbsp; 292216 |
| &nbsp;&nbsp;&nbsp; Mercantile Bank Corp. | 9510 | &nbsp;&nbsp; 491287 |
| &nbsp;&nbsp;&nbsp; Metropolitan Bank Holding Corp. | 8382 | &nbsp;&nbsp; 705345 |
| &nbsp;&nbsp;&nbsp; Mid Penn Bancorp, Inc. | 2838 | &nbsp;&nbsp; 91299 |
| &nbsp;&nbsp;&nbsp; Midland States Bancorp, Inc. | 3474 | &nbsp;&nbsp; 76880 |
| &nbsp;&nbsp;&nbsp; National Bank Holdings Corp., Class A | 5955 | &nbsp;&nbsp; 238140 |
| &nbsp;&nbsp;&nbsp; Nicolet Bankshares, Inc. | 4436 | &nbsp;&nbsp; 677643 |
| &nbsp;&nbsp;&nbsp; Northrim BanCorp, Inc. | 9171 | &nbsp;&nbsp; 215427 |
| &nbsp;&nbsp;&nbsp; OFG Bancorp | 7336 | &nbsp;&nbsp; 294027 |
| &nbsp;&nbsp;&nbsp; Old National Bancorp | 81437 | &nbsp;&nbsp; 1881195 |
| &nbsp;&nbsp;&nbsp; Old Second Bancorp, Inc. | 46583 | &nbsp;&nbsp; 914424 |
| &nbsp;&nbsp;&nbsp; Origin Bancorp, Inc. | 10241 | &nbsp;&nbsp; 426026 |
| &nbsp;&nbsp;&nbsp; Orrstown Financial Services, Inc. | 2594 | &nbsp;&nbsp; 93228 |
| &nbsp;&nbsp;&nbsp; Pathward Financial, Inc. | 7632 | &nbsp;&nbsp; 692909 |
| &nbsp;&nbsp;&nbsp; Peapack-Gladstone Financial Corp. | 8862 | &nbsp;&nbsp; 296788 |
| &nbsp;&nbsp;&nbsp; QCR Holdings, Inc. | 12850 | &nbsp;&nbsp; 1111525 |
| &nbsp;&nbsp;&nbsp; Renasant Corp. | 12119 | &nbsp;&nbsp; 456280 |
| &nbsp;&nbsp;&nbsp; Seacoast Banking Corp. of Florida | 10055 | &nbsp;&nbsp; 312912 |
| &nbsp;&nbsp;&nbsp; Sierra Bancorp | 3094 | &nbsp;&nbsp; 111322 |
| &nbsp;&nbsp;&nbsp; Simmons First National Corp., Class A | 42418 | &nbsp;&nbsp; 844542 |
| &nbsp;&nbsp;&nbsp; SmartFinancial, Inc. | 4955 | &nbsp;&nbsp; 194286 |
| &nbsp;&nbsp;&nbsp; South Plains Financial, Inc. | 23585 | &nbsp;&nbsp; 966042 |
| &nbsp;&nbsp;&nbsp; Southside Bancshares, Inc. | 9773 | &nbsp;&nbsp; 306090 |
| &nbsp;&nbsp;&nbsp; SouthState Bank Corp. | 5231 | &nbsp;&nbsp; 516143 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc.† | 1296 | &nbsp;&nbsp; 123509 |
| &nbsp;&nbsp;&nbsp; Towne Bank | 12013 | &nbsp;&nbsp; 411565 |
| &nbsp;&nbsp;&nbsp; TriCo Bancshares | 6976 | &nbsp;&nbsp; 333313 |
| &nbsp;&nbsp;&nbsp; Trustmark Corp. | 3386 | &nbsp;&nbsp; 144210 |
| &nbsp;&nbsp;&nbsp; UMB Financial Corp. | 10412 | &nbsp;&nbsp; 1206543 |
| &nbsp;&nbsp;&nbsp; United Bankshares, Inc. | 5981 | &nbsp;&nbsp; 247015 |
| &nbsp;&nbsp;&nbsp; United Community Banks, Inc. | 9614 | &nbsp;&nbsp; 309282 |
| &nbsp;&nbsp;&nbsp; Unity Bancorp, Inc. | 691 | &nbsp;&nbsp; 36754 |
| &nbsp;&nbsp;&nbsp; Univest Financial Corp. | 4851 | &nbsp;&nbsp; 162751 |
| &nbsp;&nbsp;&nbsp; Valley National Bancorp | 28008 | &nbsp;&nbsp; 353181 |
| &nbsp;&nbsp;&nbsp; Walker & Dunlop, Inc. | 3185 | &nbsp;&nbsp; 146542 |
| &nbsp;&nbsp;&nbsp; WesBanco, Inc. | 16841 | &nbsp;&nbsp; 587246 |
| &nbsp;&nbsp;&nbsp; Wintrust Financial Corp. | 3584 | &nbsp;&nbsp; 516311 |
|  |  | &nbsp;&nbsp; 39805094 |
| **Biotechnology — 6.0%** | **Biotechnology — 6.0%** | **Biotechnology — 6.0%** |
| &nbsp;&nbsp;&nbsp; Alumis Inc† | 16817 | &nbsp;&nbsp; 499297 |
| &nbsp;&nbsp;&nbsp; Atea Pharmaceuticals, Inc.† | 28925 | &nbsp;&nbsp; 135369 |
| &nbsp;&nbsp;&nbsp; Aurinia Pharmaceuticals, Inc.† | 11391 | &nbsp;&nbsp; 161410 |
| &nbsp;&nbsp;&nbsp; Beam Therapeutics, Inc.† | 19623 | &nbsp;&nbsp; 558471 |
| &nbsp;&nbsp;&nbsp; Biohaven, Ltd.† | 625 | &nbsp;&nbsp; 7200 |
| &nbsp;&nbsp;&nbsp; Celldex Therapeutics, Inc.† | 9318 | &nbsp;&nbsp; 280379 |
| &nbsp;&nbsp;&nbsp; Compass Therapeutics, Inc.† | 74883 | &nbsp;&nbsp; 423089 |
| &nbsp;&nbsp;&nbsp; Contra Iteos Therapeutic†(1) | 67297 | &nbsp;&nbsp; 0 |

---

------

**VALIC Company I Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp; CRISPR Therapeutics AG#† | 18611 | &nbsp;&nbsp; $1119265 |
| &nbsp;&nbsp;&nbsp; Cytek Biosciences, Inc.† | 34181 | &nbsp;&nbsp; 153131 |
| &nbsp;&nbsp;&nbsp; Cytokinetics, Inc.† | 16397 | &nbsp;&nbsp; 1020221 |
| &nbsp;&nbsp;&nbsp; Definium Therapeutics, Inc.† | 17494 | &nbsp;&nbsp; 305270 |
| &nbsp;&nbsp;&nbsp; Denali Therapeutics, Inc.† | 6302 | &nbsp;&nbsp; 133476 |
| &nbsp;&nbsp;&nbsp; Erasca, Inc.† | 80079 | &nbsp;&nbsp; 1093879 |
| &nbsp;&nbsp;&nbsp; Esperion Therapeutics, Inc.† | 66710 | &nbsp;&nbsp; 223478 |
| &nbsp;&nbsp;&nbsp; Generate Biomedicines, Inc.† | 100595 | &nbsp;&nbsp; 1609520 |
| &nbsp;&nbsp;&nbsp; Ideaya Biosciences, Inc.† | 13651 | &nbsp;&nbsp; 439562 |
| &nbsp;&nbsp;&nbsp; ImmunityBio, Inc.#† | 31149 | &nbsp;&nbsp; 304637 |
| &nbsp;&nbsp;&nbsp; Intellia Therapeutics, Inc.#† | 16963 | &nbsp;&nbsp; 233750 |
| &nbsp;&nbsp;&nbsp; Iovance Biotherapeutics, Inc.#† | 115105 | &nbsp;&nbsp; 444305 |
| &nbsp;&nbsp;&nbsp; Larimar Therapeutics, Inc.#† | 42086 | &nbsp;&nbsp; 223477 |
| &nbsp;&nbsp;&nbsp; Nuvation Bio, Inc.#† | 61112 | &nbsp;&nbsp; 361172 |
| &nbsp;&nbsp;&nbsp; Olema Pharmaceuticals, Inc.† | 14616 | &nbsp;&nbsp; 353707 |
| &nbsp;&nbsp;&nbsp; Phathom Pharmaceuticals, Inc.#† | 10330 | &nbsp;&nbsp; 129745 |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines, Inc.† | 4204 | &nbsp;&nbsp; 1415697 |
| &nbsp;&nbsp;&nbsp; PTC Therapeutics, Inc.† | 3788 | &nbsp;&nbsp; 258304 |
| &nbsp;&nbsp;&nbsp; Relay Therapeutics, Inc.† | 43060 | &nbsp;&nbsp; 441796 |
| &nbsp;&nbsp;&nbsp; Replimune Group, Inc.† | 47814 | &nbsp;&nbsp; 365777 |
| &nbsp;&nbsp;&nbsp; Scholar Rock Holding Corp.† | 4082 | &nbsp;&nbsp; 180710 |
| &nbsp;&nbsp;&nbsp; Septerna, Inc.#† | 6879 | &nbsp;&nbsp; 199629 |
| &nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc.† | 14374 | &nbsp;&nbsp; 312060 |
| &nbsp;&nbsp;&nbsp; Terns Pharmaceuticals, Inc.† | 13343 | &nbsp;&nbsp; 562007 |
| &nbsp;&nbsp;&nbsp; Theravance Biopharma, Inc.† | 8251 | &nbsp;&nbsp; 150581 |
| &nbsp;&nbsp;&nbsp; Travere Therapeutics, Inc.† | 7978 | &nbsp;&nbsp; 237665 |
| &nbsp;&nbsp;&nbsp; Upstream Bio, Inc.† | 11431 | &nbsp;&nbsp; 87790 |
| &nbsp;&nbsp;&nbsp; Viridian Therapeutics, Inc.† | 23658 | &nbsp;&nbsp; 695072 |
| &nbsp;&nbsp;&nbsp; Wave Life Sciences, Ltd.† | 17954 | &nbsp;&nbsp; 250099 |
|  |  | &nbsp;&nbsp; 15370997 |
| **Building Materials — 1.8%** | **Building Materials — 1.8%** | **Building Materials — 1.8%** |
| &nbsp;&nbsp;&nbsp; Apogee Enterprises, Inc. | 10503 | &nbsp;&nbsp; 418229 |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co. | 9021 | &nbsp;&nbsp; 746398 |
| &nbsp;&nbsp;&nbsp; Griffon Corp. | 13430 | &nbsp;&nbsp; 1144773 |
| &nbsp;&nbsp;&nbsp; Masterbrand, Inc.† | 41503 | &nbsp;&nbsp; 420010 |
| &nbsp;&nbsp;&nbsp; Modine Manufacturing Co.† | 5694 | &nbsp;&nbsp; 1293962 |
| &nbsp;&nbsp;&nbsp; UFP Industries, Inc. | 5561 | &nbsp;&nbsp; 572283 |
|  |  | &nbsp;&nbsp; 4595655 |
| **Chemicals — 1.4%** | **Chemicals — 1.4%** | **Chemicals — 1.4%** |
| &nbsp;&nbsp;&nbsp; Ecovyst, Inc.† | 7087 | &nbsp;&nbsp; 79870 |
| &nbsp;&nbsp;&nbsp; H.B. Fuller Co. | 14945 | &nbsp;&nbsp; 982185 |
| &nbsp;&nbsp;&nbsp; Innospec, Inc. | 6058 | &nbsp;&nbsp; 463922 |
| &nbsp;&nbsp;&nbsp; Mativ Holdings, Inc. | 45121 | &nbsp;&nbsp; 489112 |
| &nbsp;&nbsp;&nbsp; Perimeter Solutions, Inc.† | 32906 | &nbsp;&nbsp; 772633 |
| &nbsp;&nbsp;&nbsp; Quaker Chemical Corp. | 4521 | &nbsp;&nbsp; 664723 |
|  |  | &nbsp;&nbsp; 3452445 |
| **Coal — 0.9%** | **Coal — 0.9%** | **Coal — 0.9%** |
| &nbsp;&nbsp;&nbsp; Core Natural Resources, Inc. | 4415 | &nbsp;&nbsp; 362383 |
| &nbsp;&nbsp;&nbsp; Peabody Energy Corp. | 27796 | &nbsp;&nbsp; 876686 |
| &nbsp;&nbsp;&nbsp; Warrior Met Coal, Inc. | 11603 | &nbsp;&nbsp; 965834 |
|  |  | &nbsp;&nbsp; 2204903 |
| **Commercial Services — 1.6%** | **Commercial Services — 1.6%** | **Commercial Services — 1.6%** |
| &nbsp;&nbsp;&nbsp; ABM Industries, Inc. | 20988 | &nbsp;&nbsp; 933966 |
| &nbsp;&nbsp;&nbsp; Alight, Inc., Class A | 11126 | &nbsp;&nbsp; 9788 |
| &nbsp;&nbsp;&nbsp; American Public Education, Inc.† | 5423 | &nbsp;&nbsp; 248482 |
| &nbsp;&nbsp;&nbsp; API Group Corp.† | 10000 | &nbsp;&nbsp; 444600 |
| &nbsp;&nbsp;&nbsp; Healthcare Services Group, Inc.† | 30263 | &nbsp;&nbsp; 658825 |
| &nbsp;&nbsp;&nbsp; John Wiley & Sons, Inc., Class A# | 12580 | &nbsp;&nbsp; 390232 |
| &nbsp;&nbsp;&nbsp; Kelly Services, Inc., Class A | 15521 | &nbsp;&nbsp; 150709 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Laureate Education, Inc.† | 17729 | &nbsp;&nbsp; $573356 |
| &nbsp;&nbsp;&nbsp; Perdoceo Education Corp. | 7400 | &nbsp;&nbsp; 246790 |
| &nbsp;&nbsp;&nbsp; PROG Holdings, Inc. | 14416 | &nbsp;&nbsp; 507587 |
|  |  | &nbsp;&nbsp; 4164335 |
| **Computers — 0.6%** | **Computers — 0.6%** | **Computers — 0.6%** |
| &nbsp;&nbsp;&nbsp; ASGN, Inc.† | 9236 | &nbsp;&nbsp; 396224 |
| &nbsp;&nbsp;&nbsp; Mitek Systems, Inc.† | 10754 | &nbsp;&nbsp; 156793 |
| &nbsp;&nbsp;&nbsp; NCR Voyix Corp.† | 19053 | &nbsp;&nbsp; 145565 |
| &nbsp;&nbsp;&nbsp; OneSpan, Inc. | 18727 | &nbsp;&nbsp; 206746 |
| &nbsp;&nbsp;&nbsp; Unisys Corp.† | 45371 | &nbsp;&nbsp; 110252 |
| &nbsp;&nbsp;&nbsp; V2X, Inc.† | 5845 | &nbsp;&nbsp; 407689 |
|  |  | &nbsp;&nbsp; 1423269 |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, Inc.† | 2731 | &nbsp;&nbsp; 189258 |
| **Distribution/Wholesale — 1.4%** | **Distribution/Wholesale — 1.4%** | **Distribution/Wholesale — 1.4%** |
| &nbsp;&nbsp;&nbsp; Hudson Technologies, Inc.† | 11307 | &nbsp;&nbsp; 80393 |
| &nbsp;&nbsp;&nbsp; OPENLANE, Inc.† | 3645 | &nbsp;&nbsp; 103919 |
| &nbsp;&nbsp;&nbsp; Resideo Technologies, Inc.† | 31335 | &nbsp;&nbsp; 1212665 |
| &nbsp;&nbsp;&nbsp; Rush Enterprises, Inc., Class A | 13959 | &nbsp;&nbsp; 990670 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | 4199 | &nbsp;&nbsp; 1215610 |
|  |  | &nbsp;&nbsp; 3603257 |
| **Diversified Financial Services — 2.1%** | **Diversified Financial Services — 2.1%** | **Diversified Financial Services — 2.1%** |
| &nbsp;&nbsp;&nbsp; Atlanticus Holdings Corp.† | 3194 | &nbsp;&nbsp; 167078 |
| &nbsp;&nbsp;&nbsp; BGC Group, Inc., Class A | 27164 | &nbsp;&nbsp; 258601 |
| &nbsp;&nbsp;&nbsp; Burford Capital, Ltd.# | 27315 | &nbsp;&nbsp; 230539 |
| &nbsp;&nbsp;&nbsp; Enact Holdings, Inc. | 10129 | &nbsp;&nbsp; 423797 |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc.† | 10251 | &nbsp;&nbsp; 700041 |
| &nbsp;&nbsp;&nbsp; Enova International, Inc.† | 7111 | &nbsp;&nbsp; 988785 |
| &nbsp;&nbsp;&nbsp; LendingClub Corp.† | 15697 | &nbsp;&nbsp; 234042 |
| &nbsp;&nbsp;&nbsp; Marex Group PLC | 11395 | &nbsp;&nbsp; 495227 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, Inc. | 4708 | &nbsp;&nbsp; 432806 |
| &nbsp;&nbsp;&nbsp; Radian Group, Inc. | 25675 | &nbsp;&nbsp; 886301 |
| &nbsp;&nbsp;&nbsp; StoneX Group, Inc.† | 3294 | &nbsp;&nbsp; 419985 |
| &nbsp;&nbsp;&nbsp; Virtus Investment Partners, Inc. | 1724 | &nbsp;&nbsp; 238533 |
|  |  | &nbsp;&nbsp; 5475735 |
| **Electric — 3.0%** | **Electric — 3.0%** | **Electric — 3.0%** |
| &nbsp;&nbsp;&nbsp; Avista Corp. | 2763 | &nbsp;&nbsp; 112233 |
| &nbsp;&nbsp;&nbsp; Black Hills Corp. | 16087 | &nbsp;&nbsp; 1184968 |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc., Class A | 12821 | &nbsp;&nbsp; 461812 |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc., Class C | 2760 | &nbsp;&nbsp; 105736 |
| &nbsp;&nbsp;&nbsp; IDACORP, Inc. | 7812 | &nbsp;&nbsp; 1124694 |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, Inc. | 5067 | &nbsp;&nbsp; 354487 |
| &nbsp;&nbsp;&nbsp; Oklo, Inc.† | 8302 | &nbsp;&nbsp; 522611 |
| &nbsp;&nbsp;&nbsp; Otter Tail Corp. | 14643 | &nbsp;&nbsp; 1246119 |
| &nbsp;&nbsp;&nbsp; Portland General Electric Co. | 28434 | &nbsp;&nbsp; 1534299 |
| &nbsp;&nbsp;&nbsp; Unitil Corp. | 19825 | &nbsp;&nbsp; 1037046 |
|  |  | &nbsp;&nbsp; 7684005 |
| **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** | **Electrical Components & Equipment — 0.9%** |
| &nbsp;&nbsp;&nbsp; EnerSys | 11888 | &nbsp;&nbsp; 1975191 |
| &nbsp;&nbsp;&nbsp; nLight, Inc.† | 7412 | &nbsp;&nbsp; 416481 |
|  |  | &nbsp;&nbsp; 2391672 |
| **Electronics — 2.7%** | **Electronics — 2.7%** | **Electronics — 2.7%** |
| &nbsp;&nbsp;&nbsp; Allient, Inc. | 2309 | &nbsp;&nbsp; 152025 |
| &nbsp;&nbsp;&nbsp; Atkore, Inc. | 11450 | &nbsp;&nbsp; 740930 |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, Inc. | 11829 | &nbsp;&nbsp; 763325 |
| &nbsp;&nbsp;&nbsp; Bel Fuse, Inc., Class B# | 1719 | &nbsp;&nbsp; 394871 |
| &nbsp;&nbsp;&nbsp; Benchmark Electronics, Inc. | 4646 | &nbsp;&nbsp; 268585 |
| &nbsp;&nbsp;&nbsp; CTS Corp. | 1635 | &nbsp;&nbsp; 86099 |

---

------

**VALIC Company I Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| &nbsp;&nbsp;&nbsp; Kimball Electronics, Inc.† | 11295 | &nbsp;&nbsp; $282262 |
| &nbsp;&nbsp;&nbsp; Knowles Corp.† | 31883 | &nbsp;&nbsp; 866261 |
| &nbsp;&nbsp;&nbsp; Plexus Corp.† | 851 | &nbsp;&nbsp; 165205 |
| &nbsp;&nbsp;&nbsp; Sanmina Corp.† | 5825 | &nbsp;&nbsp; 904389 |
| &nbsp;&nbsp;&nbsp; TTM Technologies, Inc.† | 17878 | &nbsp;&nbsp; 1863603 |
| &nbsp;&nbsp;&nbsp; Turtle Beach Corp.#† | 19293 | &nbsp;&nbsp; 241934 |
| &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. | 13986 | &nbsp;&nbsp; 261818 |
|  |  | &nbsp;&nbsp; 6991307 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp; Nextpower, Inc., Class A† | 1055 | &nbsp;&nbsp; 110881 |
| **Engineering & Construction — 2.0%** | **Engineering & Construction — 2.0%** | **Engineering & Construction — 2.0%** |
| &nbsp;&nbsp;&nbsp; Arcosa, Inc. | 7501 | &nbsp;&nbsp; 806207 |
| &nbsp;&nbsp;&nbsp; Fluor Corp.† | 13118 | &nbsp;&nbsp; 686203 |
| &nbsp;&nbsp;&nbsp; MYR Group, Inc.† | 4988 | &nbsp;&nbsp; 1346560 |
| &nbsp;&nbsp;&nbsp; Primoris Services Corp. | 6925 | &nbsp;&nbsp; 1043736 |
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp. | 16853 | &nbsp;&nbsp; 1270211 |
|  |  | &nbsp;&nbsp; 5152917 |
| **Entertainment — 0.7%** | **Entertainment — 0.7%** | **Entertainment — 0.7%** |
| &nbsp;&nbsp;&nbsp; AMC Entertainment Holdings, Inc., Class A† | 81956 | &nbsp;&nbsp; 95069 |
| &nbsp;&nbsp;&nbsp; Cinemark Holdings, Inc. | 3389 | &nbsp;&nbsp; 95705 |
| &nbsp;&nbsp;&nbsp; Lionsgate Studios Corp.† | 63577 | &nbsp;&nbsp; 572193 |
| &nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. | 7860 | &nbsp;&nbsp; 510979 |
| &nbsp;&nbsp;&nbsp; United Parks & Resorts, Inc.#† | 8538 | &nbsp;&nbsp; 297037 |
| &nbsp;&nbsp;&nbsp; Webtoon Entertainment, Inc.#† | 23149 | &nbsp;&nbsp; 260426 |
|  |  | &nbsp;&nbsp; 1831409 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp; Ingles Markets, Inc., Class A | 5677 | &nbsp;&nbsp; 483113 |
| &nbsp;&nbsp;&nbsp; United Natural Foods, Inc.† | 16352 | &nbsp;&nbsp; 624810 |
| &nbsp;&nbsp;&nbsp; Village Super Market, Inc., Class A | 3267 | &nbsp;&nbsp; 127903 |
|  |  | &nbsp;&nbsp; 1235826 |
| **Gas — 1.9%** | **Gas — 1.9%** | **Gas — 1.9%** |
| &nbsp;&nbsp;&nbsp; Chesapeake Utilities Corp. | 4456 | &nbsp;&nbsp; 605882 |
| &nbsp;&nbsp;&nbsp; New Jersey Resources Corp. | 22394 | &nbsp;&nbsp; 1214651 |
| &nbsp;&nbsp;&nbsp; Southwest Gas Holdings, Inc. | 27479 | &nbsp;&nbsp; 2422823 |
| &nbsp;&nbsp;&nbsp; Spire, Inc. | 5514 | &nbsp;&nbsp; 505138 |
|  |  | &nbsp;&nbsp; 4748494 |
| **Healthcare-Products — 2.0%** | **Healthcare-Products — 2.0%** | **Healthcare-Products — 2.0%** |
| &nbsp;&nbsp;&nbsp; 10X Genomics, Inc., Class A#† | 45913 | &nbsp;&nbsp; 1058295 |
| &nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc.† | 38831 | &nbsp;&nbsp; 528878 |
| &nbsp;&nbsp;&nbsp; Beta Bionics, Inc.#† | 20631 | &nbsp;&nbsp; 260569 |
| &nbsp;&nbsp;&nbsp; Embecta Corp. | 6996 | &nbsp;&nbsp; 71779 |
| &nbsp;&nbsp;&nbsp; GRAIL, Inc.† | 4843 | &nbsp;&nbsp; 257793 |
| &nbsp;&nbsp;&nbsp; LivaNova PLC† | 13330 | &nbsp;&nbsp; 941098 |
| &nbsp;&nbsp;&nbsp; Omnicell, Inc.† | 28268 | &nbsp;&nbsp; 1161815 |
| &nbsp;&nbsp;&nbsp; OraSure Technologies, Inc.† | 35197 | &nbsp;&nbsp; 110871 |
| &nbsp;&nbsp;&nbsp; Orthofix Medical, Inc.† | 22094 | &nbsp;&nbsp; 298932 |
| &nbsp;&nbsp;&nbsp; Varex Imaging Corp.† | 23313 | &nbsp;&nbsp; 307032 |
|  |  | &nbsp;&nbsp; 4997062 |
| **Healthcare-Services — 0.6%** | **Healthcare-Services — 0.6%** | **Healthcare-Services — 0.6%** |
| &nbsp;&nbsp;&nbsp; Strata Critical Medical, Inc. † | 21192 | &nbsp;&nbsp; 90702 |
| &nbsp;&nbsp;&nbsp; Addus HomeCare Corp.† | 2653 | &nbsp;&nbsp; 274665 |
| &nbsp;&nbsp;&nbsp; Enhabit, Inc.† | 27101 | &nbsp;&nbsp; 368844 |
| &nbsp;&nbsp;&nbsp; Fortrea Holdings, Inc.† | 29829 | &nbsp;&nbsp; 319767 |
| &nbsp;&nbsp;&nbsp; Fulgent Genetics, Inc.† | 3705 | &nbsp;&nbsp; 56798 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Healthcare-Services (continued)** | **Healthcare-Services (continued)** | **Healthcare-Services (continued)** |
| &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. † | 8283 | &nbsp;&nbsp; $164417 |
| &nbsp;&nbsp;&nbsp; Teladoc Health, Inc.#† | 51011 | &nbsp;&nbsp; 268318 |
|  |  | &nbsp;&nbsp; 1543511 |
| **Home Builders — 3.1%** | **Home Builders — 3.1%** | **Home Builders — 3.1%** |
| &nbsp;&nbsp;&nbsp; Beazer Homes USA, Inc.† | 8219 | &nbsp;&nbsp; 210242 |
| &nbsp;&nbsp;&nbsp; Century Communities, Inc. | 6325 | &nbsp;&nbsp; 425230 |
| &nbsp;&nbsp;&nbsp; Green Brick Partners, Inc.† | 7476 | &nbsp;&nbsp; 550682 |
| &nbsp;&nbsp;&nbsp; KB Home | 15868 | &nbsp;&nbsp; 1008887 |
| &nbsp;&nbsp;&nbsp; LCI Industries | 7443 | &nbsp;&nbsp; 991408 |
| &nbsp;&nbsp;&nbsp; LGI Homes, Inc.† | 1701 | &nbsp;&nbsp; 88282 |
| &nbsp;&nbsp;&nbsp; M/I Homes, Inc.† | 8476 | &nbsp;&nbsp; 1204948 |
| &nbsp;&nbsp;&nbsp; Meritage Homes Corp. | 11586 | &nbsp;&nbsp; 873816 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Home Corp.† | 23744 | &nbsp;&nbsp; 1564492 |
| &nbsp;&nbsp;&nbsp; Tri Pointe Homes, Inc.† | 10274 | &nbsp;&nbsp; 475686 |
| &nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. | 10928 | &nbsp;&nbsp; 435918 |
|  |  | &nbsp;&nbsp; 7829591 |
| **Home Furnishings — 0.5%** | **Home Furnishings — 0.5%** | **Home Furnishings — 0.5%** |
| &nbsp;&nbsp;&nbsp; Daktronics, Inc.† | 17689 | &nbsp;&nbsp; 456023 |
| &nbsp;&nbsp;&nbsp; MillerKnoll, Inc. | 22200 | &nbsp;&nbsp; 447108 |
| &nbsp;&nbsp;&nbsp; Xperi, Inc.† | 46434 | &nbsp;&nbsp; 284640 |
|  |  | &nbsp;&nbsp; 1187771 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp; ACCO Brands Corp. | 14015 | &nbsp;&nbsp; 57041 |
| &nbsp;&nbsp;&nbsp; Spectrum Brands Holdings, Inc. | 3619 | &nbsp;&nbsp; 283657 |
|  |  | &nbsp;&nbsp; 340698 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| &nbsp;&nbsp;&nbsp; Central Garden & Pet Co., Class A† | 8170 | &nbsp;&nbsp; 282192 |
| **Insurance — 2.8%** | **Insurance — 2.8%** | **Insurance — 2.8%** |
| &nbsp;&nbsp;&nbsp; CNO Financial Group, Inc. | 30463 | &nbsp;&nbsp; 1273658 |
| &nbsp;&nbsp;&nbsp; Essent Group, Ltd. | 18730 | &nbsp;&nbsp; 1139533 |
| &nbsp;&nbsp;&nbsp; Fidelis Insurance Holdings, Ltd. | 23735 | &nbsp;&nbsp; 452389 |
| &nbsp;&nbsp;&nbsp; Hamilton Insurance Group, Ltd., Class B† | 20671 | &nbsp;&nbsp; 652997 |
| &nbsp;&nbsp;&nbsp; Heritage Insurance Holdings, Inc.† | 5017 | &nbsp;&nbsp; 139824 |
| &nbsp;&nbsp;&nbsp; Jackson Financial, Inc., Class A | 12531 | &nbsp;&nbsp; 1371894 |
| &nbsp;&nbsp;&nbsp; Mercury General Corp. | 4527 | &nbsp;&nbsp; 410056 |
| &nbsp;&nbsp;&nbsp; NMI Holdings, Inc.† | 19373 | &nbsp;&nbsp; 761553 |
| &nbsp;&nbsp;&nbsp; Safety Insurance Group, Inc. | 4294 | &nbsp;&nbsp; 333343 |
| &nbsp;&nbsp;&nbsp; SiriusPoint, Ltd.† | 15008 | &nbsp;&nbsp; 317269 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp. | 2845 | &nbsp;&nbsp; 201966 |
| &nbsp;&nbsp;&nbsp; Universal Insurance Holdings, Inc. | 3336 | &nbsp;&nbsp; 117327 |
|  |  | &nbsp;&nbsp; 7171809 |
| **Internet — 0.3%** | **Internet — 0.3%** | **Internet — 0.3%** |
| &nbsp;&nbsp;&nbsp; Cars.com, Inc.#† | 20559 | &nbsp;&nbsp; 175574 |
| &nbsp;&nbsp;&nbsp; Nextdoor Holdings, Inc.† | 46085 | &nbsp;&nbsp; 80649 |
| &nbsp;&nbsp;&nbsp; RealReal, Inc.† | 29008 | &nbsp;&nbsp; 355638 |
| &nbsp;&nbsp;&nbsp; Shutterstock, Inc. | 2573 | &nbsp;&nbsp; 43226 |
|  |  | &nbsp;&nbsp; 655087 |
| **Investment Companies — 2.3%** | **Investment Companies — 2.3%** | **Investment Companies — 2.3%** |
| &nbsp;&nbsp;&nbsp; Bit Digital, Inc.#† | 79634 | &nbsp;&nbsp; 132989 |
| &nbsp;&nbsp;&nbsp; Cipher Mining, Inc.† | 58771 | &nbsp;&nbsp; 916828 |
| &nbsp;&nbsp;&nbsp; Cleanspark, Inc.#† | 61832 | &nbsp;&nbsp; 615228 |
| &nbsp;&nbsp;&nbsp; Core Scientific, Inc.#† | 12429 | &nbsp;&nbsp; 210920 |
| &nbsp;&nbsp;&nbsp; HA Sustainable Infrastructure Capital, Inc. | 18878 | &nbsp;&nbsp; 689425 |
| &nbsp;&nbsp;&nbsp; Hut 8 Corp.† | 17484 | &nbsp;&nbsp; 930673 |
| &nbsp;&nbsp;&nbsp; MARA Holdings, Inc.#† | 106049 | &nbsp;&nbsp; 948078 |

---

------

**VALIC Company I Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Investment Companies (continued)** | **Investment Companies (continued)** | **Investment Companies (continued)** |
| &nbsp;&nbsp;&nbsp; Riot Platforms, Inc.† | 69598 | &nbsp;&nbsp; $1133751 |
| &nbsp;&nbsp;&nbsp; Terawulf, Inc.#† | 12346 | &nbsp;&nbsp; 200252 |
|  |  | &nbsp;&nbsp; 5778144 |
| **Iron/Steel — 1.0%** | **Iron/Steel — 1.0%** | **Iron/Steel — 1.0%** |
| &nbsp;&nbsp;&nbsp; Commercial Metals Co. | 33275 | &nbsp;&nbsp; 2439058 |
| **Leisure Time — 0.8%** | **Leisure Time — 0.8%** | **Leisure Time — 0.8%** |
| &nbsp;&nbsp;&nbsp; Callaway Golf Co † | 77384 | &nbsp;&nbsp; 1088019 |
| &nbsp;&nbsp;&nbsp; Peloton Interactive, Inc., Class A† | 66519 | &nbsp;&nbsp; 267406 |
| &nbsp;&nbsp;&nbsp; Polaris, Inc. | 13213 | &nbsp;&nbsp; 802558 |
|  |  | &nbsp;&nbsp; 2157983 |
| **Machinery-Construction & Mining — 0.3%** | **Machinery-Construction & Mining — 0.3%** | **Machinery-Construction & Mining — 0.3%** |
| &nbsp;&nbsp;&nbsp; Terex Corp. | 9402 | &nbsp;&nbsp; 646764 |
| **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** | **Machinery-Diversified — 0.3%** |
| &nbsp;&nbsp;&nbsp; Ichor Holdings, Ltd.† | 5141 | &nbsp;&nbsp; 244454 |
| &nbsp;&nbsp;&nbsp; Thermon Group Holdings, Inc.† | 8229 | &nbsp;&nbsp; 417869 |
|  |  | &nbsp;&nbsp; 662323 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| &nbsp;&nbsp;&nbsp; AMC Networks, Inc., Class A#† | 10799 | &nbsp;&nbsp; 88228 |
| &nbsp;&nbsp;&nbsp; Sphere Entertainment Co.† | 7249 | &nbsp;&nbsp; 862703 |
|  |  | &nbsp;&nbsp; 950931 |
| **Metal Fabricate/Hardware — 0.3%** | **Metal Fabricate/Hardware — 0.3%** | **Metal Fabricate/Hardware — 0.3%** |
| &nbsp;&nbsp;&nbsp; Hillman Solutions Corp.† | 48828 | &nbsp;&nbsp; 400390 |
| &nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 3136 | &nbsp;&nbsp; 369922 |
|  |  | &nbsp;&nbsp; 770312 |
| **Mining — 2.8%** | **Mining — 2.8%** | **Mining — 2.8%** |
| &nbsp;&nbsp;&nbsp; Coeur Mining, Inc.† | 64001 | &nbsp;&nbsp; 1737627 |
| &nbsp;&nbsp;&nbsp; Constellium SE† | 57310 | &nbsp;&nbsp; 1426446 |
| &nbsp;&nbsp;&nbsp; Energy Fuels, Inc.#† | 9048 | &nbsp;&nbsp; 192903 |
| &nbsp;&nbsp;&nbsp; Hecla Mining Co. | 92769 | &nbsp;&nbsp; 2310876 |
| &nbsp;&nbsp;&nbsp; Ivanhoe Electric, Inc.† | 1795 | &nbsp;&nbsp; 30856 |
| &nbsp;&nbsp;&nbsp; SSR Mining, Inc.† | 38973 | &nbsp;&nbsp; 1254541 |
| &nbsp;&nbsp;&nbsp; USA Rare Earth, Inc.† | 6993 | &nbsp;&nbsp; 132168 |
|  |  | &nbsp;&nbsp; 7085417 |
| **Miscellaneous Manufacturing — 0.7%** | **Miscellaneous Manufacturing — 0.7%** | **Miscellaneous Manufacturing — 0.7%** |
| &nbsp;&nbsp;&nbsp; Avient Corp. | 10644 | &nbsp;&nbsp; 437149 |
| &nbsp;&nbsp;&nbsp; Materion Corp. | 7406 | &nbsp;&nbsp; 1207622 |
| &nbsp;&nbsp;&nbsp; Park Aerospace Corp. | 5201 | &nbsp;&nbsp; 137411 |
|  |  | &nbsp;&nbsp; 1782182 |
| **Multi-National — 0.1%** | **Multi-National — 0.1%** | **Multi-National — 0.1%** |
| &nbsp;&nbsp;&nbsp; Banco Latinoamericano de Comercio Exterior SA, Class E | 4813 | &nbsp;&nbsp; 240794 |
| **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** | **Oil & Gas — 3.3%** |
| &nbsp;&nbsp;&nbsp; California Resources Corp. | 8536 | &nbsp;&nbsp; 502258 |
| &nbsp;&nbsp;&nbsp; Chord Energy Corp. | 2739 | &nbsp;&nbsp; 296825 |
| &nbsp;&nbsp;&nbsp; CNX Resources Corp.† | 26640 | &nbsp;&nbsp; 1113019 |
| &nbsp;&nbsp;&nbsp; Gulfport Energy Corp.† | 1221 | &nbsp;&nbsp; 254774 |
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Corp., Class A | 22119 | &nbsp;&nbsp; 615351 |
| &nbsp;&nbsp;&nbsp; Murphy Oil Corp. | 11890 | &nbsp;&nbsp; 394153 |
| &nbsp;&nbsp;&nbsp; Noble Corp. PLC# | 6803 | &nbsp;&nbsp; 309060 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 5463 | &nbsp;&nbsp; 276373 |
| &nbsp;&nbsp;&nbsp; Par Pacific Holdings, Inc.† | 25571 | &nbsp;&nbsp; 1091115 |
| &nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc. | 55760 | &nbsp;&nbsp; 474518 |
| &nbsp;&nbsp;&nbsp; PBF Energy, Inc., Class A | 5860 | &nbsp;&nbsp; 208616 |
| &nbsp;&nbsp;&nbsp; SM Energy Co. | 9045 | &nbsp;&nbsp; 209211 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp; Transocean, Ltd.† | 280206 | &nbsp;&nbsp; $1815735 |
| &nbsp;&nbsp;&nbsp; Valaris, Ltd.† | 8002 | &nbsp;&nbsp; 766992 |
|  |  | &nbsp;&nbsp; 8328000 |
| **Oil & Gas Services — 2.6%** | **Oil & Gas Services — 2.6%** | **Oil & Gas Services — 2.6%** |
| &nbsp;&nbsp;&nbsp; Bristow Group, Inc.† | 12026 | &nbsp;&nbsp; 573640 |
| &nbsp;&nbsp;&nbsp; DMC Global, Inc.† | 8994 | &nbsp;&nbsp; 52975 |
| &nbsp;&nbsp;&nbsp; DNOW, Inc.† | 75003 | &nbsp;&nbsp; 883535 |
| &nbsp;&nbsp;&nbsp; Forum Energy Technologies, Inc.† | 22241 | &nbsp;&nbsp; 1290645 |
| &nbsp;&nbsp;&nbsp; Helix Energy Solutions Group, Inc.† | 9715 | &nbsp;&nbsp; 89281 |
| &nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 38255 | &nbsp;&nbsp; 1074583 |
| &nbsp;&nbsp;&nbsp; Mammoth Energy Services, Inc.† | 19114 | &nbsp;&nbsp; 44153 |
| &nbsp;&nbsp;&nbsp; National Energy Services Reunited Corp.† | 18516 | &nbsp;&nbsp; 463826 |
| &nbsp;&nbsp;&nbsp; Oceaneering International, Inc.† | 5496 | &nbsp;&nbsp; 195108 |
| &nbsp;&nbsp;&nbsp; Oil States International, Inc.† | 57564 | &nbsp;&nbsp; 753513 |
| &nbsp;&nbsp;&nbsp; ProPetro Holding Corp.† | 50721 | &nbsp;&nbsp; 615246 |
| &nbsp;&nbsp;&nbsp; Ranger Energy Services, Inc., Class A | 31565 | &nbsp;&nbsp; 549862 |
|  |  | &nbsp;&nbsp; 6586367 |
| **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |
| &nbsp;&nbsp;&nbsp; Greif, Inc., Class A | 5866 | &nbsp;&nbsp; 426282 |
| &nbsp;&nbsp;&nbsp; O-I Glass, Inc.† | 28235 | &nbsp;&nbsp; 378349 |
|  |  | &nbsp;&nbsp; 804631 |
| **Pharmaceuticals — 1.4%** | **Pharmaceuticals — 1.4%** | **Pharmaceuticals — 1.4%** |
| &nbsp;&nbsp;&nbsp; Aclaris Therapeutics, Inc.† | 60758 | &nbsp;&nbsp; 174376 |
| &nbsp;&nbsp;&nbsp; Agios Pharmaceuticals, Inc.† | 13528 | &nbsp;&nbsp; 408951 |
| &nbsp;&nbsp;&nbsp; Aquestive Therapeutics, Inc.† | 50051 | &nbsp;&nbsp; 200204 |
| &nbsp;&nbsp;&nbsp; Atrium Therapeutics, Inc.† | 395 | &nbsp;&nbsp; 5826 |
| &nbsp;&nbsp;&nbsp; Enanta Pharmaceuticals, Inc.† | 12223 | &nbsp;&nbsp; 174789 |
| &nbsp;&nbsp;&nbsp; Nature's Sunshine Products, Inc.† | 12332 | &nbsp;&nbsp; 341350 |
| &nbsp;&nbsp;&nbsp; ORIC Pharmaceuticals, Inc.† | 25146 | &nbsp;&nbsp; 338214 |
| &nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.† | 8167 | &nbsp;&nbsp; 446980 |
| &nbsp;&nbsp;&nbsp; Vanda Pharmaceuticals, Inc.† | 33831 | &nbsp;&nbsp; 301434 |
| &nbsp;&nbsp;&nbsp; Vaxcyte, Inc.† | 19503 | &nbsp;&nbsp; 1204115 |
|  |  | &nbsp;&nbsp; 3596239 |
| **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Excelerate Energy, Inc., Class A | 12761 | &nbsp;&nbsp; 513630 |
| &nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.#† | 42099 | &nbsp;&nbsp; 45888 |
|  |  | &nbsp;&nbsp; 559518 |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| &nbsp;&nbsp;&nbsp; Compass, Inc., Class A† | 13382 | &nbsp;&nbsp; 130475 |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield, Ltd.† | 22320 | &nbsp;&nbsp; 299311 |
| &nbsp;&nbsp;&nbsp; Newmark Group, Inc., Class A | 39183 | &nbsp;&nbsp; 568937 |
|  |  | &nbsp;&nbsp; 998723 |
| **REITS — 10.1%** | **REITS — 10.1%** | **REITS — 10.1%** |
| &nbsp;&nbsp;&nbsp; Adamas Trust, Inc. | 26515 | &nbsp;&nbsp; 218484 |
| &nbsp;&nbsp;&nbsp; Agree Realty Corp. | 1078 | &nbsp;&nbsp; 86757 |
| &nbsp;&nbsp;&nbsp; American Assets Trust, Inc. | 16780 | &nbsp;&nbsp; 327546 |
| &nbsp;&nbsp;&nbsp; American Healthcare REIT, Inc. | 7495 | &nbsp;&nbsp; 391539 |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance, Inc. | 22301 | &nbsp;&nbsp; 236391 |
| &nbsp;&nbsp;&nbsp; BrightSpire Capital, Inc. | 63752 | &nbsp;&nbsp; 370399 |
| &nbsp;&nbsp;&nbsp; Broadstone Net Lease, Inc. | 76555 | &nbsp;&nbsp; 1484401 |
| &nbsp;&nbsp;&nbsp; CareTrust REIT, Inc. | 36533 | &nbsp;&nbsp; 1483970 |
| &nbsp;&nbsp;&nbsp; Centerspace | 2647 | &nbsp;&nbsp; 166496 |
| &nbsp;&nbsp;&nbsp; Chatham Lodging Trust | 38144 | &nbsp;&nbsp; 294090 |
| &nbsp;&nbsp;&nbsp; Community Healthcare Trust, Inc. | 4815 | &nbsp;&nbsp; 82288 |
| &nbsp;&nbsp;&nbsp; COPT Defense Properties | 52466 | &nbsp;&nbsp; 1667369 |
| &nbsp;&nbsp;&nbsp; Curbline Properties Corp. | 29225 | &nbsp;&nbsp; 812747 |
| &nbsp;&nbsp;&nbsp; DiamondRock Hospitality Co. | 82379 | &nbsp;&nbsp; 827085 |
| &nbsp;&nbsp;&nbsp; Ellington Financial, Inc. | 43357 | &nbsp;&nbsp; 538494 |

---

------

**VALIC Company I Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **REITS (continued)** | **REITS (continued)** | **REITS (continued)** |
| &nbsp;&nbsp;&nbsp; Empire State Realty Trust, Inc., Class A# | 37209 | &nbsp;&nbsp; $218789 |
| &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, Inc. | 55663 | &nbsp;&nbsp; 1889202 |
| &nbsp;&nbsp;&nbsp; Four Corners Property Trust, Inc. | 23085 | &nbsp;&nbsp; 589129 |
| &nbsp;&nbsp;&nbsp; Getty Realty Corp. | 12541 | &nbsp;&nbsp; 411596 |
| &nbsp;&nbsp;&nbsp; Independence Realty Trust, Inc. | 37446 | &nbsp;&nbsp; 620480 |
| &nbsp;&nbsp;&nbsp; InvenTrust Properties Corp. | 21210 | &nbsp;&nbsp; 661752 |
| &nbsp;&nbsp;&nbsp; Kite Realty Group Trust# | 41250 | &nbsp;&nbsp; 1074563 |
| &nbsp;&nbsp;&nbsp; Ladder Capital Corp. | 121686 | &nbsp;&nbsp; 1261884 |
| &nbsp;&nbsp;&nbsp; LXP Industrial Trust | 11703 | &nbsp;&nbsp; 580001 |
| &nbsp;&nbsp;&nbsp; Macerich Co. | 42690 | &nbsp;&nbsp; 873864 |
| &nbsp;&nbsp;&nbsp; National Health Investors, Inc. | 2970 | &nbsp;&nbsp; 249688 |
| &nbsp;&nbsp;&nbsp; NETSTREIT Corp.# | 31012 | &nbsp;&nbsp; 644119 |
| &nbsp;&nbsp;&nbsp; Outfront Media, Inc. | 11482 | &nbsp;&nbsp; 330796 |
| &nbsp;&nbsp;&nbsp; Phillips Edison & Co., Inc. | 27938 | &nbsp;&nbsp; 1097405 |
| &nbsp;&nbsp;&nbsp; Piedmont Office Realty Trust, Inc. | 62203 | &nbsp;&nbsp; 472121 |
| &nbsp;&nbsp;&nbsp; Postal Realty Trust, Inc., Class A | 10717 | &nbsp;&nbsp; 222163 |
| &nbsp;&nbsp;&nbsp; Rayonier, Inc. | 22575 | &nbsp;&nbsp; 485137 |
| &nbsp;&nbsp;&nbsp; Ryman Hospitality Properties, Inc. | 3815 | &nbsp;&nbsp; 376731 |
| &nbsp;&nbsp;&nbsp; Sabra Health Care REIT, Inc. | 53065 | &nbsp;&nbsp; 1090486 |
| &nbsp;&nbsp;&nbsp; SL Green Realty Corp. | 5747 | &nbsp;&nbsp; 211777 |
| &nbsp;&nbsp;&nbsp; Smartstop Self Storage REIT, Inc. | 2403 | &nbsp;&nbsp; 80140 |
| &nbsp;&nbsp;&nbsp; Sunstone Hotel Investors, Inc. | 27770 | &nbsp;&nbsp; 257706 |
| &nbsp;&nbsp;&nbsp; Tanger, Inc. | 11192 | &nbsp;&nbsp; 414776 |
| &nbsp;&nbsp;&nbsp; Terreno Realty Corp. | 14992 | &nbsp;&nbsp; 990372 |
| &nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc. | 32812 | &nbsp;&nbsp; 277590 |
| &nbsp;&nbsp;&nbsp; UMH Properties, Inc. | 6740 | &nbsp;&nbsp; 101639 |
| &nbsp;&nbsp;&nbsp; Veris Residential, Inc. | 11417 | &nbsp;&nbsp; 215210 |
| &nbsp;&nbsp;&nbsp; Xenia Hotels & Resorts, Inc. | 69988 | &nbsp;&nbsp; 1069417 |
|  |  | &nbsp;&nbsp; 25756589 |
| **Retail — 3.1%** | **Retail — 3.1%** | **Retail — 3.1%** |
| &nbsp;&nbsp;&nbsp; American Eagle Outfitters, Inc. | 41919 | &nbsp;&nbsp; 1029950 |
| &nbsp;&nbsp;&nbsp; Arko Corp. | 22183 | &nbsp;&nbsp; 142637 |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, Inc.† | 2845 | &nbsp;&nbsp; 608204 |
| &nbsp;&nbsp;&nbsp; Biglari Holdings, Inc., Class B† | 625 | &nbsp;&nbsp; 242362 |
| &nbsp;&nbsp;&nbsp; Black Rock Coffee Bar, Inc.† | 9834 | &nbsp;&nbsp; 131186 |
| &nbsp;&nbsp;&nbsp; BlueLinx Holdings, Inc.† | 3145 | &nbsp;&nbsp; 207318 |
| &nbsp;&nbsp;&nbsp; Clean Energy Fuels Corp.† | 140946 | &nbsp;&nbsp; 318538 |
| &nbsp;&nbsp;&nbsp; Dine Brands Global, Inc.# | 7020 | &nbsp;&nbsp; 217339 |
| &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. | 944 | &nbsp;&nbsp; 307499 |
| &nbsp;&nbsp;&nbsp; Jack in the Box, Inc.# | 18775 | &nbsp;&nbsp; 317673 |
| &nbsp;&nbsp;&nbsp; Kohl's Corp. | 23935 | &nbsp;&nbsp; 391816 |
| &nbsp;&nbsp;&nbsp; MarineMax, Inc.† | 1206 | &nbsp;&nbsp; 36783 |
| &nbsp;&nbsp;&nbsp; National Vision Holdings, Inc.† | 12406 | &nbsp;&nbsp; 334590 |
| &nbsp;&nbsp;&nbsp; Signet Jewelers, Ltd. | 17402 | &nbsp;&nbsp; 1673898 |
| &nbsp;&nbsp;&nbsp; Sonic Automotive, Inc., Class A | 1592 | &nbsp;&nbsp; 99850 |
| &nbsp;&nbsp;&nbsp; Urban Outfitters, Inc.† | 13507 | &nbsp;&nbsp; 894163 |
| &nbsp;&nbsp;&nbsp; Victoria's Secret & Co.† | 11398 | &nbsp;&nbsp; 714655 |
| &nbsp;&nbsp;&nbsp; Zumiez, Inc.† | 11327 | &nbsp;&nbsp; 296994 |
|  |  | &nbsp;&nbsp; 7965455 |
| **Savings & Loans — 1.8%** | **Savings & Loans — 1.8%** | **Savings & Loans — 1.8%** |
| &nbsp;&nbsp;&nbsp; Beacon Financial Corp. | 13068 | &nbsp;&nbsp; 388642 |
| &nbsp;&nbsp;&nbsp; Axos Financial, Inc.† | 10346 | &nbsp;&nbsp; 898240 |
| &nbsp;&nbsp;&nbsp; Banc of California, Inc. | 51401 | &nbsp;&nbsp; 949377 |
| &nbsp;&nbsp;&nbsp; Capitol Federal Financial, Inc. | 30810 | &nbsp;&nbsp; 221216 |
| &nbsp;&nbsp;&nbsp; HomeTrust Bancshares, Inc. | 5195 | &nbsp;&nbsp; 218917 |
| &nbsp;&nbsp;&nbsp; OceanFirst Financial Corp. | 43035 | &nbsp;&nbsp; 777212 |
| &nbsp;&nbsp;&nbsp; Provident Financial Services, Inc. | 11658 | &nbsp;&nbsp; 245284 |
| &nbsp;&nbsp;&nbsp; Southern Missouri Bancorp, Inc. | 2434 | &nbsp;&nbsp; 150689 |
| &nbsp;&nbsp;&nbsp; WSFS Financial Corp. | 10150 | &nbsp;&nbsp; 644627 |
|  |  | &nbsp;&nbsp; 4494204 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Semiconductors — 1.6%** | **Semiconductors — 1.6%** | **Semiconductors — 1.6%** |
| &nbsp;&nbsp;&nbsp; ACM Research, Inc., Class A† | 4385 | &nbsp;&nbsp; $244157 |
| &nbsp;&nbsp;&nbsp; Aehr Test Systems#† | 18562 | &nbsp;&nbsp; 694776 |
| &nbsp;&nbsp;&nbsp; Ambarella, Inc.† | 2552 | &nbsp;&nbsp; 153988 |
| &nbsp;&nbsp;&nbsp; Arteris, Inc.† | 4431 | &nbsp;&nbsp; 75283 |
| &nbsp;&nbsp;&nbsp; Cohu, Inc.† | 6432 | &nbsp;&nbsp; 194246 |
| &nbsp;&nbsp;&nbsp; Diodes, Inc.† | 8208 | &nbsp;&nbsp; 560032 |
| &nbsp;&nbsp;&nbsp; FormFactor, Inc.† | 3357 | &nbsp;&nbsp; 331940 |
| &nbsp;&nbsp;&nbsp; Kulicke & Soffa Industries, Inc. | 3146 | &nbsp;&nbsp; 219339 |
| &nbsp;&nbsp;&nbsp; Navitas Semiconductor Corp.#† | 24764 | &nbsp;&nbsp; 222876 |
| &nbsp;&nbsp;&nbsp; Penguin Solutions, Inc.† | 6502 | &nbsp;&nbsp; 135111 |
| &nbsp;&nbsp;&nbsp; Synaptics, Inc.† | 6730 | &nbsp;&nbsp; 548226 |
| &nbsp;&nbsp;&nbsp; Ultra Clean Holdings, Inc.† | 7537 | &nbsp;&nbsp; 457345 |
| &nbsp;&nbsp;&nbsp; Veeco Instruments, Inc.† | 7213 | &nbsp;&nbsp; 220429 |
| &nbsp;&nbsp;&nbsp; Vishay Precision Group, Inc.† | 998 | &nbsp;&nbsp; 45978 |
|  |  | &nbsp;&nbsp; 4103726 |
| **Software — 1.8%** | **Software — 1.8%** | **Software — 1.8%** |
| &nbsp;&nbsp;&nbsp; Adeia, Inc. | 32131 | &nbsp;&nbsp; 664790 |
| &nbsp;&nbsp;&nbsp; BigBear.ai Holdings, Inc.#† | 31757 | &nbsp;&nbsp; 125758 |
| &nbsp;&nbsp;&nbsp; Bullish#† | 5896 | &nbsp;&nbsp; 185075 |
| &nbsp;&nbsp;&nbsp; Consensus Cloud Solutions, Inc.† | 8906 | &nbsp;&nbsp; 267893 |
| &nbsp;&nbsp;&nbsp; Digital Turbine, Inc.#† | 62626 | &nbsp;&nbsp; 254262 |
| &nbsp;&nbsp;&nbsp; Fastly, Inc., Class A† | 22633 | &nbsp;&nbsp; 432743 |
| &nbsp;&nbsp;&nbsp; GigaCloud Technology, Inc., Class A† | 11155 | &nbsp;&nbsp; 494613 |
| &nbsp;&nbsp;&nbsp; Health Catalyst, Inc.#† | 26455 | &nbsp;&nbsp; 42857 |
| &nbsp;&nbsp;&nbsp; HeartFlow, Inc.† | 12711 | &nbsp;&nbsp; 294387 |
| &nbsp;&nbsp;&nbsp; IBEX Holdings, Ltd.† | 4972 | &nbsp;&nbsp; 143691 |
| &nbsp;&nbsp;&nbsp; LiveRamp Holdings, Inc.† | 14973 | &nbsp;&nbsp; 406816 |
| &nbsp;&nbsp;&nbsp; McGraw Hill, Inc.† | 78793 | &nbsp;&nbsp; 1103102 |
| &nbsp;&nbsp;&nbsp; Porch Group, Inc.† | 33734 | &nbsp;&nbsp; 276956 |
|  |  | &nbsp;&nbsp; 4692943 |
| **Telecommunications — 2.0%** | **Telecommunications — 2.0%** | **Telecommunications — 2.0%** |
| &nbsp;&nbsp;&nbsp; Applied Digital Corp.† | 8722 | &nbsp;&nbsp; 237849 |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Class A† | 20925 | &nbsp;&nbsp; 2417465 |
| &nbsp;&nbsp;&nbsp; Lumen Technologies, Inc.† | 16892 | &nbsp;&nbsp; 120102 |
| &nbsp;&nbsp;&nbsp; NETGEAR, Inc.† | 24230 | &nbsp;&nbsp; 499623 |
| &nbsp;&nbsp;&nbsp; Spok Holdings, Inc. | 8446 | &nbsp;&nbsp; 102534 |
| &nbsp;&nbsp;&nbsp; Telephone & Data Systems, Inc. | 6709 | &nbsp;&nbsp; 300228 |
| &nbsp;&nbsp;&nbsp; Viasat, Inc.† | 20311 | &nbsp;&nbsp; 929838 |
| &nbsp;&nbsp;&nbsp; Vistance Networks, Inc.† | 21046 | &nbsp;&nbsp; 369778 |
|  |  | &nbsp;&nbsp; 4977417 |
| **Transportation — 2.6%** | **Transportation — 2.6%** | **Transportation — 2.6%** |
| &nbsp;&nbsp;&nbsp; ArcBest Corp. | 5203 | &nbsp;&nbsp; 534140 |
| &nbsp;&nbsp;&nbsp; Costamare Bulkers Holdings, Ltd.† | 2872 | &nbsp;&nbsp; 54798 |
| &nbsp;&nbsp;&nbsp; Costamare, Inc. | 53534 | &nbsp;&nbsp; 940592 |
| &nbsp;&nbsp;&nbsp; International Seaways, Inc. | 7423 | &nbsp;&nbsp; 560659 |
| &nbsp;&nbsp;&nbsp; Matson, Inc. | 4468 | &nbsp;&nbsp; 742269 |
| &nbsp;&nbsp;&nbsp; Radiant Logistics, Inc.† | 29404 | &nbsp;&nbsp; 218178 |
| &nbsp;&nbsp;&nbsp; Safe Bulkers, Inc. | 74538 | &nbsp;&nbsp; 488969 |
| &nbsp;&nbsp;&nbsp; Scorpio Tankers, Inc. | 3070 | &nbsp;&nbsp; 242776 |
| &nbsp;&nbsp;&nbsp; Teekay Corp., Ltd. | 46860 | &nbsp;&nbsp; 606837 |
| &nbsp;&nbsp;&nbsp; Teekay Tankers, Ltd., Class A | 24849 | &nbsp;&nbsp; 1944931 |
| &nbsp;&nbsp;&nbsp; World Kinect Corp. | 14831 | &nbsp;&nbsp; 370033 |
|  |  | &nbsp;&nbsp; 6704182 |
| **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** | **Trucking & Leasing — 0.3%** |
| &nbsp;&nbsp;&nbsp; GATX Corp. | 4072 | &nbsp;&nbsp; 749940 |

---

------

**VALIC Company I Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Water — 0.7%** | **Water — 0.7%** | **Water — 0.7%** |
| &nbsp;&nbsp;&nbsp; American States Water Co. | 3711 | &nbsp;&nbsp; $276581 |
| &nbsp;&nbsp;&nbsp; Consolidated Water Co., Ltd. | 38011 | &nbsp;&nbsp; 1438716 |
|  |  | &nbsp;&nbsp; 1715297 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $208,154,745)<br>|  | &nbsp;&nbsp; 249045710 |
| **SHORT-TERM INVESTMENTS — 1.4%** | **SHORT-TERM INVESTMENTS — 1.4%** | **SHORT-TERM INVESTMENTS — 1.4%** |
| **Unaffiliated Investment Companies — 1.4%** | **Unaffiliated Investment Companies — 1.4%** | **Unaffiliated Investment Companies — 1.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(2)(3) <br>(cost $3,462,651)<br>| 3462651 | &nbsp;&nbsp; 3462651 |
| **REPURCHASE AGREEMENTS — 2.6%** | **REPURCHASE AGREEMENTS — 2.6%** | **REPURCHASE AGREEMENTS — 2.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with Fixed Income Clearing Corp., bearing <br> interest at 1.36% dated 02/27/2026, to be repurchased <br> 03/02/2026 in the amount of $6,676,484 and <br> collateralized by $7,152,600 of United States Treasury <br> Notes, bearing interest at 1.38% due 10/31/2028 and <br> having an approximate value of $6,809,424 <br>(cost $6,675,895)<br>| $6675895 | &nbsp;&nbsp; 6675895 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $218,293,291)<br>| 101.7<br> %<br>| &nbsp;&nbsp; 259184256 |
| Other assets less liabilities | (1.7)<br>| &nbsp;&nbsp; (4403677)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $254780579 |

---

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

# The security or a portion thereof is out on loan. <br> † Non-income producing security

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) Securities classified as Level 3 (see Note 1).

&nbsp;&nbsp;&nbsp;&nbsp;(2) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(3) At February 28, 2026, the Fund had loaned securities with a total value of $10,968,147. This was secured by collateral of $3,462,651, which was received in cash and subsequently invested in short-term investments currently valued at $3,462,651 as reported in the Portfolio of Investments. Additional collateral of $7,921,636 was
 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components
 of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $8816 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 44385 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 48740 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 08/15/2055 | 7819695 |

---

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 40 | Long | E-Mini Russell 2000 Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $5317016 | &nbsp;&nbsp;&nbsp;&nbsp; $5269400 | &nbsp;&nbsp;&nbsp;&nbsp; $(47616)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; $15370997 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $15370997 |
| &nbsp;&nbsp;&nbsp; Other Industries | &nbsp;&nbsp; 233674713 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 233674713 |
| Short-Term Investments | &nbsp;&nbsp; 3462651 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3462651 |
| Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 6675895 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6675895 |
| **Total Investments at Value** | &nbsp;&nbsp; $252508361 | &nbsp;&nbsp; $6675895 | &nbsp;&nbsp; $0 | &nbsp;&nbsp; $259184256 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $47616 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $47616 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

Level 3 investments in securities were not considered a significant portion of the Fund's net assets.

See Notes to Portfolio of Investments

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | 36616 | &nbsp;&nbsp; $3122979 |
| &nbsp;&nbsp;&nbsp; Trade Desk, Inc., Class A† | 51106 | &nbsp;&nbsp; 1217345 |
|  |  | &nbsp;&nbsp; 4340324 |
| **Aerospace/Defense — 2.3%** | **Aerospace/Defense — 2.3%** | **Aerospace/Defense — 2.3%** |
| &nbsp;&nbsp;&nbsp; Boeing Co.† | 88111 | &nbsp;&nbsp; 20047896 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | 28835 | &nbsp;&nbsp; 10295537 |
| &nbsp;&nbsp;&nbsp; General Electric Co. | 118516 | &nbsp;&nbsp; 40563286 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 45053 | &nbsp;&nbsp; 11827764 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 21269 | &nbsp;&nbsp; 7753401 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 22927 | &nbsp;&nbsp; 15087800 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 15021 | &nbsp;&nbsp; 10880912 |
| &nbsp;&nbsp;&nbsp; RTX Corp. | 150718 | &nbsp;&nbsp; 30538481 |
| &nbsp;&nbsp;&nbsp; TransDigm Group, Inc. | 6292 | &nbsp;&nbsp; 8197155 |
|  |  | &nbsp;&nbsp; 155192232 |
| **Agriculture — 0.8%** | **Agriculture — 0.8%** | **Agriculture — 0.8%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | 188610 | &nbsp;&nbsp; 13021634 |
| &nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Co. | 54652 | &nbsp;&nbsp; 3773174 |
| &nbsp;&nbsp;&nbsp; Bunge Global SA | 15024 | &nbsp;&nbsp; 1812646 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 175162 | &nbsp;&nbsp; 32725517 |
|  |  | &nbsp;&nbsp; 51332971 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. | 72208 | &nbsp;&nbsp; 4744066 |
| &nbsp;&nbsp;&nbsp; Southwest Airlines Co. | 56902 | &nbsp;&nbsp; 2802993 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.† | 36015 | &nbsp;&nbsp; 3828394 |
|  |  | &nbsp;&nbsp; 11375453 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 15931 | &nbsp;&nbsp; 1868228 |
| &nbsp;&nbsp;&nbsp; NIKE, Inc., Class B | 132758 | &nbsp;&nbsp; 8254893 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 4509 | &nbsp;&nbsp; 1634963 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. | 22789 | &nbsp;&nbsp; 3543006 |
|  |  | &nbsp;&nbsp; 15301090 |
| **Auto Manufacturers — 2.4%** | **Auto Manufacturers — 2.4%** | **Auto Manufacturers — 2.4%** |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | 15668 | &nbsp;&nbsp; 9148075 |
| &nbsp;&nbsp;&nbsp; Ford Motor Co. | 446795 | &nbsp;&nbsp; 6295341 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | 103755 | &nbsp;&nbsp; 8166556 |
| &nbsp;&nbsp;&nbsp; PACCAR, Inc. | 59631 | &nbsp;&nbsp; 7518873 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 316172 | &nbsp;&nbsp; 127262392 |
|  |  | &nbsp;&nbsp; 158391237 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Aptiv PLC† | 24335 | &nbsp;&nbsp; 1789596 |
| **Banks — 4.4%** | **Banks — 4.4%** | **Banks — 4.4%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 756177 | &nbsp;&nbsp; 37680300 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 78929 | &nbsp;&nbsp; 9400444 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 201338 | &nbsp;&nbsp; 22185434 |
| &nbsp;&nbsp;&nbsp; Citizens Financial Group, Inc. | 48219 | &nbsp;&nbsp; 2902302 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 99678 | &nbsp;&nbsp; 4931071 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 33748 | &nbsp;&nbsp; 29008768 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 228641 | &nbsp;&nbsp; 3841169 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 306306 | &nbsp;&nbsp; 91983692 |
| &nbsp;&nbsp;&nbsp; KeyCorp | 106458 | &nbsp;&nbsp; 2207939 |
| &nbsp;&nbsp;&nbsp; M&T Bank Corp. | 17263 | &nbsp;&nbsp; 3745726 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | 135270 | &nbsp;&nbsp; 22523808 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp. | 20754 | &nbsp;&nbsp; 2969690 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 43936 | &nbsp;&nbsp; 9329809 |
| &nbsp;&nbsp;&nbsp; Regions Financial Corp. | 101129 | &nbsp;&nbsp; 2814420 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | 31992 | &nbsp;&nbsp; 4114811 |
| &nbsp;&nbsp;&nbsp; Truist Financial Corp. | 143431 | &nbsp;&nbsp; 7072582 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; US Bancorp | 174212 | &nbsp;&nbsp; $9522428 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | 353391 | &nbsp;&nbsp; 28783697 |
|  |  | &nbsp;&nbsp; 295018090 |
| **Beverages — 1.2%** | **Beverages — 1.2%** | **Beverages — 1.2%** |
| &nbsp;&nbsp;&nbsp; Brown-Forman Corp., Class B# | 16475 | &nbsp;&nbsp; 475469 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. | 436517 | &nbsp;&nbsp; 35602327 |
| &nbsp;&nbsp;&nbsp; Constellation Brands, Inc., Class A | 15544 | &nbsp;&nbsp; 2453776 |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 155267 | &nbsp;&nbsp; 4701485 |
| &nbsp;&nbsp;&nbsp; Molson Coors Beverage Co., Class B | 17872 | &nbsp;&nbsp; 875549 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 81325 | &nbsp;&nbsp; 6937022 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 153852 | &nbsp;&nbsp; 26114838 |
|  |  | &nbsp;&nbsp; 77160466 |
| **Biotechnology — 1.2%** | **Biotechnology — 1.2%** | **Biotechnology — 1.2%** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 60354 | &nbsp;&nbsp; 23427009 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc.† | 16200 | &nbsp;&nbsp; 3107484 |
| &nbsp;&nbsp;&nbsp; Corteva, Inc. | 77052 | &nbsp;&nbsp; 6173406 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 139957 | &nbsp;&nbsp; 20846595 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 18434 | &nbsp;&nbsp; 1866811 |
| &nbsp;&nbsp;&nbsp; Moderna, Inc.† | 40206 | &nbsp;&nbsp; 2153836 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 11369 | &nbsp;&nbsp; 8886806 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 28439 | &nbsp;&nbsp; 14129348 |
|  |  | &nbsp;&nbsp; 80591295 |
| **Building Materials — 0.8%** | **Building Materials — 0.8%** | **Building Materials — 0.8%** |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.† | 13179 | &nbsp;&nbsp; 1374438 |
| &nbsp;&nbsp;&nbsp; Carrier Global Corp. | 89656 | &nbsp;&nbsp; 5773846 |
| &nbsp;&nbsp;&nbsp; CRH PLC | 75421 | &nbsp;&nbsp; 9049012 |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC | 68767 | &nbsp;&nbsp; 9923078 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. | 3393 | &nbsp;&nbsp; 1933806 |
| &nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc. | 6893 | &nbsp;&nbsp; 4663597 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | 24123 | &nbsp;&nbsp; 1727689 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 24942 | &nbsp;&nbsp; 11531186 |
| &nbsp;&nbsp;&nbsp; Vulcan Materials Co. | 14971 | &nbsp;&nbsp; 4641010 |
|  |  | &nbsp;&nbsp; 50617662 |
| **Chemicals — 1.1%** | **Chemicals — 1.1%** | **Chemicals — 1.1%** |
| &nbsp;&nbsp;&nbsp; Air Products & Chemicals, Inc. | 25080 | &nbsp;&nbsp; 6913804 |
| &nbsp;&nbsp;&nbsp; Albemarle Corp. | 13071 | &nbsp;&nbsp; 2335395 |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 17759 | &nbsp;&nbsp; 1767731 |
| &nbsp;&nbsp;&nbsp; Dow, Inc. | 81404 | &nbsp;&nbsp; 2501545 |
| &nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. | 48471 | &nbsp;&nbsp; 2425489 |
| &nbsp;&nbsp;&nbsp; Ecolab, Inc. | 28423 | &nbsp;&nbsp; 8764232 |
| &nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. | 29896 | &nbsp;&nbsp; 2458348 |
| &nbsp;&nbsp;&nbsp; Linde PLC | 52595 | &nbsp;&nbsp; 26722468 |
| &nbsp;&nbsp;&nbsp; LyondellBasell Industries NV, Class A | 30321 | &nbsp;&nbsp; 1744064 |
| &nbsp;&nbsp;&nbsp; Mosaic Co. | 35067 | &nbsp;&nbsp; 976265 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 24616 | &nbsp;&nbsp; 3034414 |
| &nbsp;&nbsp;&nbsp; Qnity Electronics, Inc. | 24235 | &nbsp;&nbsp; 3072029 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 25912 | &nbsp;&nbsp; 9395432 |
|  |  | &nbsp;&nbsp; 72111216 |
| **Commercial Services — 1.2%** | **Commercial Services — 1.2%** | **Commercial Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 45531 | &nbsp;&nbsp; 9760025 |
| &nbsp;&nbsp;&nbsp; Block, Inc.† | 59794 | &nbsp;&nbsp; 3808878 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 38108 | &nbsp;&nbsp; 7664662 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc.† | 7698 | &nbsp;&nbsp; 2502620 |
| &nbsp;&nbsp;&nbsp; Equifax, Inc. | 13593 | &nbsp;&nbsp; 2840393 |
| &nbsp;&nbsp;&nbsp; Global Payments, Inc. | 26891 | &nbsp;&nbsp; 2056086 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 17188 | &nbsp;&nbsp; 8208817 |
| &nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. | 105965 | &nbsp;&nbsp; 4896643 |
| &nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 16918 | &nbsp;&nbsp; 9526187 |
| &nbsp;&nbsp;&nbsp; Rollins, Inc. | 32897 | &nbsp;&nbsp; 2003098 |

---

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; S&P Global, Inc. | 34882 | &nbsp;&nbsp; $15413658 |
| &nbsp;&nbsp;&nbsp; United Rentals, Inc. | 7111 | &nbsp;&nbsp; 5973240 |
| &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. | 15801 | &nbsp;&nbsp; 3279814 |
|  |  | &nbsp;&nbsp; 77934121 |
| **Computers — 8.3%** | **Computers — 8.3%** | **Computers — 8.3%** |
| &nbsp;&nbsp;&nbsp; Accenture PLC, Class A | 69745 | &nbsp;&nbsp; 14557176 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 1662622 | &nbsp;&nbsp; 439231480 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | 53449 | &nbsp;&nbsp; 3443719 |
| &nbsp;&nbsp;&nbsp; Crowdstrike Holdings, Inc., Class A† | 28109 | &nbsp;&nbsp; 10455986 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | 34176 | &nbsp;&nbsp; 5060782 |
| &nbsp;&nbsp;&nbsp; EPAM Systems, Inc.† | 6037 | &nbsp;&nbsp; 851217 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 70896 | &nbsp;&nbsp; 5602911 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc.† | 7879 | &nbsp;&nbsp; 1238579 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 149985 | &nbsp;&nbsp; 3220178 |
| &nbsp;&nbsp;&nbsp; HP, Inc. | 105142 | &nbsp;&nbsp; 1996646 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | 105304 | &nbsp;&nbsp; 25295074 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 14639 | &nbsp;&nbsp; 2563289 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 22617 | &nbsp;&nbsp; 2239761 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 16653 | &nbsp;&nbsp; 10580650 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 24515 | &nbsp;&nbsp; 9998198 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc.#† | 57338 | &nbsp;&nbsp; 1857178 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 38267 | &nbsp;&nbsp; 10703280 |
|  |  | &nbsp;&nbsp; 548896104 |
| **Cosmetics/Personal Care — 0.9%** | **Cosmetics/Personal Care — 0.9%** | **Cosmetics/Personal Care — 0.9%** |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 89823 | &nbsp;&nbsp; 8905052 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc., Class A | 28070 | &nbsp;&nbsp; 3072823 |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. | 216862 | &nbsp;&nbsp; 4146401 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 263189 | &nbsp;&nbsp; 44005201 |
|  |  | &nbsp;&nbsp; 60129477 |
| **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp; Copart, Inc.† | 100076 | &nbsp;&nbsp; 3811895 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | 130063 | &nbsp;&nbsp; 5988101 |
| &nbsp;&nbsp;&nbsp; Pool Corp. | 3691 | &nbsp;&nbsp; 838521 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 4943 | &nbsp;&nbsp; 5658400 |
|  |  | &nbsp;&nbsp; 16296917 |
| **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** | **Diversified Financial Services — 3.6%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | 60459 | &nbsp;&nbsp; 18675785 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 10375 | &nbsp;&nbsp; 4877495 |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 52007 | &nbsp;&nbsp; 5439932 |
| &nbsp;&nbsp;&nbsp; Ares Management Corp., Class A | 23173 | &nbsp;&nbsp; 2595608 |
| &nbsp;&nbsp;&nbsp; Blackrock, Inc. | 16093 | &nbsp;&nbsp; 17110560 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp. | 71398 | &nbsp;&nbsp; 13968305 |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 11887 | &nbsp;&nbsp; 3562772 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 187949 | &nbsp;&nbsp; 17892745 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | 40465 | &nbsp;&nbsp; 12928568 |
| &nbsp;&nbsp;&nbsp; Coinbase Global, Inc., Class A† | 25849 | &nbsp;&nbsp; 4545547 |
| &nbsp;&nbsp;&nbsp; Franklin Resources, Inc. | 31332 | &nbsp;&nbsp; 831551 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | 49659 | &nbsp;&nbsp; 3535224 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 64180 | &nbsp;&nbsp; 10533863 |
| &nbsp;&nbsp;&nbsp; Invesco, Ltd. | 48744 | &nbsp;&nbsp; 1280017 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 92301 | &nbsp;&nbsp; 47739000 |
| &nbsp;&nbsp;&nbsp; Nasdaq, Inc. | 51669 | &nbsp;&nbsp; 4525171 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | 20128 | &nbsp;&nbsp; 3081194 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 39514 | &nbsp;&nbsp; 2730813 |
| &nbsp;&nbsp;&nbsp; T. Rowe Price Group, Inc.# | 24806 | &nbsp;&nbsp; 2347392 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 189891 | &nbsp;&nbsp; 60791705 |
|  |  | &nbsp;&nbsp; 238993247 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Electric — 2.3%** | **Electric — 2.3%** | **Electric — 2.3%** |
| &nbsp;&nbsp;&nbsp; AES Corp. | 76979 | &nbsp;&nbsp; $1330197 |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp. | 30164 | &nbsp;&nbsp; 2182064 |
| &nbsp;&nbsp;&nbsp; Ameren Corp. | 30908 | &nbsp;&nbsp; 3501258 |
| &nbsp;&nbsp;&nbsp; American Electric Power Co., Inc. | 60988 | &nbsp;&nbsp; 8161414 |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. | 73583 | &nbsp;&nbsp; 3200861 |
| &nbsp;&nbsp;&nbsp; CMS Energy Corp. | 33129 | &nbsp;&nbsp; 2586381 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. | 39725 | &nbsp;&nbsp; 4469857 |
| &nbsp;&nbsp;&nbsp; Constellation Energy Corp. | 35157 | &nbsp;&nbsp; 11597591 |
| &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. | 97546 | &nbsp;&nbsp; 6159055 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co. | 23772 | &nbsp;&nbsp; 3523961 |
| &nbsp;&nbsp;&nbsp; Duke Energy Corp. | 87200 | &nbsp;&nbsp; 11410120 |
| &nbsp;&nbsp;&nbsp; Edison International | 42833 | &nbsp;&nbsp; 3201338 |
| &nbsp;&nbsp;&nbsp; Entergy Corp. | 50937 | &nbsp;&nbsp; 5455862 |
| &nbsp;&nbsp;&nbsp; Evergy, Inc. | 26978 | &nbsp;&nbsp; 2256980 |
| &nbsp;&nbsp;&nbsp; Eversource Energy | 41581 | &nbsp;&nbsp; 3168888 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | 115440 | &nbsp;&nbsp; 5710817 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 57082 | &nbsp;&nbsp; 2920315 |
| &nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | 235194 | &nbsp;&nbsp; 22054141 |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 21148 | &nbsp;&nbsp; 3784646 |
| &nbsp;&nbsp;&nbsp; PG&E Corp. | 241505 | &nbsp;&nbsp; 4588595 |
| &nbsp;&nbsp;&nbsp; Pinnacle West Capital Corp. | 12428 | &nbsp;&nbsp; 1246528 |
| &nbsp;&nbsp;&nbsp; PPL Corp. | 84095 | &nbsp;&nbsp; 3278023 |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. | 57044 | &nbsp;&nbsp; 4909777 |
| &nbsp;&nbsp;&nbsp; Sempra | 72333 | &nbsp;&nbsp; 6963498 |
| &nbsp;&nbsp;&nbsp; Southern Co. | 123463 | &nbsp;&nbsp; 12022827 |
| &nbsp;&nbsp;&nbsp; Vistra Corp. | 36322 | &nbsp;&nbsp; 6316033 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. | 37140 | &nbsp;&nbsp; 4343894 |
| &nbsp;&nbsp;&nbsp; Xcel Energy, Inc. | 66030 | &nbsp;&nbsp; 5504261 |
|  |  | &nbsp;&nbsp; 155849182 |
| **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** | **Electrical Components & Equipment — 0.5%** |
| &nbsp;&nbsp;&nbsp; AMETEK, Inc. | 25638 | &nbsp;&nbsp; 6133122 |
| &nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 43850 | &nbsp;&nbsp; 16484092 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | 62875 | &nbsp;&nbsp; 9478406 |
| &nbsp;&nbsp;&nbsp; Generac Holdings, Inc.† | 6691 | &nbsp;&nbsp; 1507951 |
|  |  | &nbsp;&nbsp; 33603571 |
| **Electronics — 1.1%** | **Electronics — 1.1%** | **Electronics — 1.1%** |
| &nbsp;&nbsp;&nbsp; Allegion PLC | 10047 | &nbsp;&nbsp; 1619074 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 137982 | &nbsp;&nbsp; 20153651 |
| &nbsp;&nbsp;&nbsp; Fortive Corp. | 37299 | &nbsp;&nbsp; 2208101 |
| &nbsp;&nbsp;&nbsp; Garmin, Ltd. | 18726 | &nbsp;&nbsp; 4734495 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 71539 | &nbsp;&nbsp; 17426185 |
| &nbsp;&nbsp;&nbsp; Hubbell, Inc. | 6006 | &nbsp;&nbsp; 3072850 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | 12343 | &nbsp;&nbsp; 3270771 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.† | 19025 | &nbsp;&nbsp; 5846953 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc.† | 2232 | &nbsp;&nbsp; 3050452 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 32923 | &nbsp;&nbsp; 7577228 |
| &nbsp;&nbsp;&nbsp; Trimble, Inc.† | 26700 | &nbsp;&nbsp; 1785429 |
|  |  | &nbsp;&nbsp; 70745189 |
| **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** | **Energy-Alternate Sources — 0.0%** |
| &nbsp;&nbsp;&nbsp; First Solar, Inc.† | 11987 | &nbsp;&nbsp; 2363836 |
| **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** | **Engineering & Construction — 0.2%** |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | 3960 | &nbsp;&nbsp; 5660305 |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 5013 | &nbsp;&nbsp; 3632520 |
| &nbsp;&nbsp;&nbsp; Jacobs Solutions, Inc. | 13047 | &nbsp;&nbsp; 1798660 |
|  |  | &nbsp;&nbsp; 11091485 |
| **Entertainment — 0.1%** | **Entertainment — 0.1%** | **Entertainment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.#† | 17499 | &nbsp;&nbsp; 2837288 |
| &nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 7583 | &nbsp;&nbsp; 1697606 |
|  |  | &nbsp;&nbsp; 4534894 |

---

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| &nbsp;&nbsp;&nbsp; Pentair PLC | 17590 | &nbsp;&nbsp; $1744752 |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. | 22778 | &nbsp;&nbsp; 5216162 |
| &nbsp;&nbsp;&nbsp; Veralto Corp. | 27954 | &nbsp;&nbsp; 2723558 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. | 41460 | &nbsp;&nbsp; 9985227 |
|  |  | &nbsp;&nbsp; 19669699 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp; Campbell's Co. | 25404 | &nbsp;&nbsp; 684638 |
| &nbsp;&nbsp;&nbsp; Conagra Brands, Inc. | 50075 | &nbsp;&nbsp; 963944 |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | 59376 | &nbsp;&nbsp; 2685576 |
| &nbsp;&nbsp;&nbsp; Hershey Co. | 16784 | &nbsp;&nbsp; 3965724 |
| &nbsp;&nbsp;&nbsp; Hormel Foods Corp. | 28902 | &nbsp;&nbsp; 739891 |
| &nbsp;&nbsp;&nbsp; J.M. Smucker Co. | 11940 | &nbsp;&nbsp; 1384443 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 96608 | &nbsp;&nbsp; 2377523 |
| &nbsp;&nbsp;&nbsp; Kroger Co. | 69279 | &nbsp;&nbsp; 4727599 |
| &nbsp;&nbsp;&nbsp; Lamb Weston Holdings, Inc. | 14935 | &nbsp;&nbsp; 719718 |
| &nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 26964 | &nbsp;&nbsp; 1915523 |
| &nbsp;&nbsp;&nbsp; Mondelez International, Inc., Class A | 144342 | &nbsp;&nbsp; 8888580 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 54919 | &nbsp;&nbsp; 5006416 |
| &nbsp;&nbsp;&nbsp; Tyson Foods, Inc., Class A | 33253 | &nbsp;&nbsp; 2161112 |
|  |  | &nbsp;&nbsp; 36220687 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp; International Paper Co. | 58638 | &nbsp;&nbsp; 2553685 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp; Atmos Energy Corp. | 18093 | &nbsp;&nbsp; 3379591 |
| &nbsp;&nbsp;&nbsp; NiSource, Inc. | 51263 | &nbsp;&nbsp; 2424740 |
|  |  | &nbsp;&nbsp; 5804331 |
| **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** | **Hand/Machine Tools — 0.1%** |
| &nbsp;&nbsp;&nbsp; Snap-on, Inc. | 5594 | &nbsp;&nbsp; 2154920 |
| &nbsp;&nbsp;&nbsp; Stanley Black & Decker, Inc. | 17379 | &nbsp;&nbsp; 1503110 |
|  |  | &nbsp;&nbsp; 3658030 |
| **Healthcare-Products — 2.5%** | **Healthcare-Products — 2.5%** | **Healthcare-Products — 2.5%** |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | 195984 | &nbsp;&nbsp; 22802739 |
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. | 32252 | &nbsp;&nbsp; 3914748 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc.† | 8023 | &nbsp;&nbsp; 1525172 |
| &nbsp;&nbsp;&nbsp; Baxter International, Inc.# | 57800 | &nbsp;&nbsp; 1177386 |
| &nbsp;&nbsp;&nbsp; Bio-Techne Corp. | 16922 | &nbsp;&nbsp; 998398 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 167887 | &nbsp;&nbsp; 12902116 |
| &nbsp;&nbsp;&nbsp; Cooper Cos., Inc.† | 23064 | &nbsp;&nbsp; 1929765 |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | 70738 | &nbsp;&nbsp; 14900252 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.† | 66070 | &nbsp;&nbsp; 5713073 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 51119 | &nbsp;&nbsp; 4307798 |
| &nbsp;&nbsp;&nbsp; Hologic, Inc.† | 25934 | &nbsp;&nbsp; 1954386 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 9095 | &nbsp;&nbsp; 5972959 |
| &nbsp;&nbsp;&nbsp; Insulet Corp.† | 7781 | &nbsp;&nbsp; 1918873 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.† | 39941 | &nbsp;&nbsp; 20110693 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 144496 | &nbsp;&nbsp; 14111479 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 16686 | &nbsp;&nbsp; 4275954 |
| &nbsp;&nbsp;&nbsp; Revvity, Inc.# | 13741 | &nbsp;&nbsp; 1350878 |
| &nbsp;&nbsp;&nbsp; Solventum Corp.† | 15518 | &nbsp;&nbsp; 1151436 |
| &nbsp;&nbsp;&nbsp; STERIS PLC | 11121 | &nbsp;&nbsp; 2806384 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 38783 | &nbsp;&nbsp; 15026861 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 42119 | &nbsp;&nbsp; 21948632 |
| &nbsp;&nbsp;&nbsp; Waters Corp.† | 10801 | &nbsp;&nbsp; 3449624 |
| &nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | 7753 | &nbsp;&nbsp; 1971898 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 21416 | &nbsp;&nbsp; 2108191 |
|  |  | &nbsp;&nbsp; 168329695 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** | **Healthcare-Services — 1.1%** |
| &nbsp;&nbsp;&nbsp; Centene Corp.† | 54068 | &nbsp;&nbsp; $2426572 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.† | 5328 | &nbsp;&nbsp; 950995 |
| &nbsp;&nbsp;&nbsp; Cigna Group | 29769 | &nbsp;&nbsp; 8627651 |
| &nbsp;&nbsp;&nbsp; DaVita, Inc.† | 4136 | &nbsp;&nbsp; 646457 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 25136 | &nbsp;&nbsp; 8043520 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 17898 | &nbsp;&nbsp; 9480571 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. | 13232 | &nbsp;&nbsp; 2521225 |
| &nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.† | 19409 | &nbsp;&nbsp; 3470523 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 9257 | &nbsp;&nbsp; 2676384 |
| &nbsp;&nbsp;&nbsp; Molina Healthcare, Inc.† | 5316 | &nbsp;&nbsp; 818930 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | 12117 | &nbsp;&nbsp; 2567713 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 101736 | &nbsp;&nbsp; 29836117 |
| &nbsp;&nbsp;&nbsp; Universal Health Services, Inc., Class B | 6501 | &nbsp;&nbsp; 1339856 |
|  |  | &nbsp;&nbsp; 73406514 |
| **Home Builders — 0.2%** | **Home Builders — 0.2%** | **Home Builders — 0.2%** |
| &nbsp;&nbsp;&nbsp; D.R. Horton, Inc. | 31168 | &nbsp;&nbsp; 4999035 |
| &nbsp;&nbsp;&nbsp; Lennar Corp., Class A | 23617 | &nbsp;&nbsp; 2700840 |
| &nbsp;&nbsp;&nbsp; NVR, Inc.† | 313 | &nbsp;&nbsp; 2353068 |
| &nbsp;&nbsp;&nbsp; PulteGroup, Inc. | 22598 | &nbsp;&nbsp; 3100446 |
|  |  | &nbsp;&nbsp; 13153389 |
| **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** | **Household Products/Wares — 0.2%** |
| &nbsp;&nbsp;&nbsp; Avery Dennison Corp. | 8171 | &nbsp;&nbsp; 1604376 |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. | 27404 | &nbsp;&nbsp; 2873583 |
| &nbsp;&nbsp;&nbsp; Clorox Co. | 14272 | &nbsp;&nbsp; 1814828 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 37891 | &nbsp;&nbsp; 4222573 |
|  |  | &nbsp;&nbsp; 10515360 |
| **Insurance — 3.3%** | **Insurance — 3.3%** | **Insurance — 3.3%** |
| &nbsp;&nbsp;&nbsp; Aflac, Inc. | 52915 | &nbsp;&nbsp; 5975691 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. | 29164 | &nbsp;&nbsp; 6256261 |
| &nbsp;&nbsp;&nbsp; American International Group, Inc. | 60719 | &nbsp;&nbsp; 4887272 |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 24053 | &nbsp;&nbsp; 8069060 |
| &nbsp;&nbsp;&nbsp; Arch Capital Group, Ltd.† | 39952 | &nbsp;&nbsp; 4001193 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 28535 | &nbsp;&nbsp; 6511687 |
| &nbsp;&nbsp;&nbsp; Assurant, Inc. | 5580 | &nbsp;&nbsp; 1281112 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B† | 206330 | &nbsp;&nbsp; 104186334 |
| &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 31749 | &nbsp;&nbsp; 2280213 |
| &nbsp;&nbsp;&nbsp; Chubb, Ltd. | 41087 | &nbsp;&nbsp; 14004915 |
| &nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | 17655 | &nbsp;&nbsp; 2895067 |
| &nbsp;&nbsp;&nbsp; Erie Indemnity Co., Class A | 3223 | &nbsp;&nbsp; 868405 |
| &nbsp;&nbsp;&nbsp; Everest Group, Ltd. | 4947 | &nbsp;&nbsp; 1659669 |
| &nbsp;&nbsp;&nbsp; Globe Life, Inc. | 9350 | &nbsp;&nbsp; 1358181 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 30874 | &nbsp;&nbsp; 4347985 |
| &nbsp;&nbsp;&nbsp; Loews Corp. | 18721 | &nbsp;&nbsp; 2059684 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 55109 | &nbsp;&nbsp; 10291055 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. | 62196 | &nbsp;&nbsp; 4482466 |
| &nbsp;&nbsp;&nbsp; Principal Financial Group, Inc. | 22334 | &nbsp;&nbsp; 2131110 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 66131 | &nbsp;&nbsp; 14129550 |
| &nbsp;&nbsp;&nbsp; Prudential Financial, Inc. | 38373 | &nbsp;&nbsp; 3775136 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. | 24934 | &nbsp;&nbsp; 7695630 |
| &nbsp;&nbsp;&nbsp; W.R. Berkley Corp. | 33460 | &nbsp;&nbsp; 2399082 |
| &nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 11025 | &nbsp;&nbsp; 3364499 |
|  |  | &nbsp;&nbsp; 218911257 |
| **Internet — 13.5%** | **Internet — 13.5%** | **Internet — 13.5%** |
| &nbsp;&nbsp;&nbsp; Airbnb, Inc., Class A† | 48056 | &nbsp;&nbsp; 6492846 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 654636 | &nbsp;&nbsp; 204089319 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 523216 | &nbsp;&nbsp; 162945159 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 1094597 | &nbsp;&nbsp; 229865370 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 30351 | &nbsp;&nbsp; 13195704 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 3627 | &nbsp;&nbsp; 15376122 |
| &nbsp;&nbsp;&nbsp; CDW Corp. | 14747 | &nbsp;&nbsp; 1808572 |

---

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 42568 | &nbsp;&nbsp; $7511975 |
| &nbsp;&nbsp;&nbsp; eBay, Inc. | 49856 | &nbsp;&nbsp; 4529916 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 13120 | &nbsp;&nbsp; 2829853 |
| &nbsp;&nbsp;&nbsp; F5, Inc.† | 6782 | &nbsp;&nbsp; 1840364 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 63601 | &nbsp;&nbsp; 1435475 |
| &nbsp;&nbsp;&nbsp; GoDaddy, Inc., Class A† | 15553 | &nbsp;&nbsp; 1355599 |
| &nbsp;&nbsp;&nbsp; Match Group, Inc. | 27282 | &nbsp;&nbsp; 862111 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 245054 | &nbsp;&nbsp; 158839102 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 477595 | &nbsp;&nbsp; 45963743 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.† | 89459 | &nbsp;&nbsp; 13322234 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 89633 | &nbsp;&nbsp; 6798663 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 233819 | &nbsp;&nbsp; 17634629 |
| &nbsp;&nbsp;&nbsp; VeriSign, Inc. | 9003 | &nbsp;&nbsp; 2052144 |
|  |  | &nbsp;&nbsp; 898748900 |
| **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** | **Iron/Steel — 0.1%** |
| &nbsp;&nbsp;&nbsp; Nucor Corp. | 26007 | &nbsp;&nbsp; 4600118 |
| &nbsp;&nbsp;&nbsp; Steel Dynamics, Inc. | 15530 | &nbsp;&nbsp; 2999309 |
|  |  | &nbsp;&nbsp; 7599427 |
| **Leisure Time — 0.2%** | **Leisure Time — 0.2%** | **Leisure Time — 0.2%** |
| &nbsp;&nbsp;&nbsp; Carnival Corp. | 120453 | &nbsp;&nbsp; 3800292 |
| &nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings, Ltd.† | 54382 | &nbsp;&nbsp; 1348130 |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. | 28827 | &nbsp;&nbsp; 8964044 |
|  |  | &nbsp;&nbsp; 14112466 |
| **Lodging — 0.3%** | **Lodging — 0.3%** | **Lodging — 0.3%** |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 26194 | &nbsp;&nbsp; 8166765 |
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp. | 33446 | &nbsp;&nbsp; 1897057 |
| &nbsp;&nbsp;&nbsp; Marriott International, Inc., Class A | 25083 | &nbsp;&nbsp; 8571614 |
| &nbsp;&nbsp;&nbsp; MGM Resorts International† | 23120 | &nbsp;&nbsp; 852203 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts, Ltd. | 9781 | &nbsp;&nbsp; 1058207 |
|  |  | &nbsp;&nbsp; 20545846 |
| **Machinery-Construction & Mining — 1.0%** | **Machinery-Construction & Mining — 1.0%** | **Machinery-Construction & Mining — 1.0%** |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 52724 | &nbsp;&nbsp; 39164969 |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 30495 | &nbsp;&nbsp; 26640432 |
|  |  | &nbsp;&nbsp; 65805401 |
| **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** | **Machinery-Diversified — 0.7%** |
| &nbsp;&nbsp;&nbsp; Deere & Co. | 28375 | &nbsp;&nbsp; 17868021 |
| &nbsp;&nbsp;&nbsp; Dover Corp. | 15562 | &nbsp;&nbsp; 3509231 |
| &nbsp;&nbsp;&nbsp; IDEX Corp. | 8589 | &nbsp;&nbsp; 1799138 |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand, Inc. | 40448 | &nbsp;&nbsp; 3807775 |
| &nbsp;&nbsp;&nbsp; Nordson Corp. | 6088 | &nbsp;&nbsp; 1786463 |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 44716 | &nbsp;&nbsp; 4138913 |
| &nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. | 12851 | &nbsp;&nbsp; 5236140 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. | 19154 | &nbsp;&nbsp; 5055698 |
| &nbsp;&nbsp;&nbsp; Xylem, Inc. | 27052 | &nbsp;&nbsp; 3504857 |
|  |  | &nbsp;&nbsp; 46706236 |
| **Media — 0.7%** | **Media — 0.7%** | **Media — 0.7%** |
| &nbsp;&nbsp;&nbsp; Charter Communications, Inc., Class A#† | 10232 | &nbsp;&nbsp; 2400734 |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | 406961 | &nbsp;&nbsp; 12599513 |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 3775 | &nbsp;&nbsp; 818458 |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class A | 24558 | &nbsp;&nbsp; 1383598 |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class B | 17034 | &nbsp;&nbsp; 881169 |
| &nbsp;&nbsp;&nbsp; News Corp., Class A | 42325 | &nbsp;&nbsp; 1028074 |
| &nbsp;&nbsp;&nbsp; News Corp., Class B# | 14424 | &nbsp;&nbsp; 386275 |
| &nbsp;&nbsp;&nbsp; Paramount Skydance Corp., Class B | 37803 | &nbsp;&nbsp; 510718 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 200103 | &nbsp;&nbsp; 21218922 |
| &nbsp;&nbsp;&nbsp; Warner Bros. Discovery, Inc.† | 276366 | &nbsp;&nbsp; 7785230 |
|  |  | &nbsp;&nbsp; 49012691 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| &nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 162826 | &nbsp;&nbsp; $11085194 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 123043 | &nbsp;&nbsp; 15995590 |
|  |  | &nbsp;&nbsp; 27080784 |
| **Miscellaneous Manufacturing — 0.7%** | **Miscellaneous Manufacturing — 0.7%** | **Miscellaneous Manufacturing — 0.7%** |
| &nbsp;&nbsp;&nbsp; 3M Co. | 59707 | &nbsp;&nbsp; 9870761 |
| &nbsp;&nbsp;&nbsp; A.O. Smith Corp. | 12515 | &nbsp;&nbsp; 976170 |
| &nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.† | 8973 | &nbsp;&nbsp; 4866955 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 29523 | &nbsp;&nbsp; 8580270 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp. | 14153 | &nbsp;&nbsp; 14282925 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.† | 5260 | &nbsp;&nbsp; 3582586 |
| &nbsp;&nbsp;&nbsp; Textron, Inc. | 19019 | &nbsp;&nbsp; 1876224 |
|  |  | &nbsp;&nbsp; 44035891 |
| **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** | **Office/Business Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Zebra Technologies Corp., Class A† | 6031 | &nbsp;&nbsp; 1350703 |
| **Oil & Gas — 2.7%** | **Oil & Gas — 2.7%** | **Oil & Gas — 2.7%** |
| &nbsp;&nbsp;&nbsp; APA Corp. | 38868 | &nbsp;&nbsp; 1180421 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 212966 | &nbsp;&nbsp; 39773530 |
| &nbsp;&nbsp;&nbsp; ConocoPhillips | 138504 | &nbsp;&nbsp; 15714664 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 86454 | &nbsp;&nbsp; 2644628 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | 72000 | &nbsp;&nbsp; 3134160 |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 21501 | &nbsp;&nbsp; 3742894 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 60551 | &nbsp;&nbsp; 7513168 |
| &nbsp;&nbsp;&nbsp; EQT Corp. | 70268 | &nbsp;&nbsp; 4315861 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. | 26682 | &nbsp;&nbsp; 2879521 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 474512 | &nbsp;&nbsp; 72363080 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 33690 | &nbsp;&nbsp; 6677695 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 81175 | &nbsp;&nbsp; 4308769 |
| &nbsp;&nbsp;&nbsp; Phillips 66 | 45668 | &nbsp;&nbsp; 7047942 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | 6702 | &nbsp;&nbsp; 3513792 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 34226 | &nbsp;&nbsp; 7004009 |
|  |  | &nbsp;&nbsp; 181814134 |
| **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Baker Hughes Co. | 112685 | &nbsp;&nbsp; 7353823 |
| &nbsp;&nbsp;&nbsp; Halliburton Co. | 95203 | &nbsp;&nbsp; 3427308 |
| &nbsp;&nbsp;&nbsp; SLB, Ltd. | 169021 | &nbsp;&nbsp; 8677538 |
|  |  | &nbsp;&nbsp; 19458669 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Amcor PLC# | 50209 | &nbsp;&nbsp; 2431622 |
| &nbsp;&nbsp;&nbsp; Ball Corp. | 30537 | &nbsp;&nbsp; 2049949 |
| &nbsp;&nbsp;&nbsp; Packaging Corp. of America | 10403 | &nbsp;&nbsp; 2414952 |
| &nbsp;&nbsp;&nbsp; Smurfit WestRock PLC | 59658 | &nbsp;&nbsp; 2804523 |
|  |  | &nbsp;&nbsp; 9701046 |
| **Pharmaceuticals — 5.0%** | **Pharmaceuticals — 5.0%** | **Pharmaceuticals — 5.0%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 198475 | &nbsp;&nbsp; 46062078 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | 31744 | &nbsp;&nbsp; 5602181 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 228831 | &nbsp;&nbsp; 14272189 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 26311 | &nbsp;&nbsp; 6031271 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | 21572 | &nbsp;&nbsp; 8027804 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 142384 | &nbsp;&nbsp; 11376482 |
| &nbsp;&nbsp;&nbsp; Dexcom, Inc.† | 42596 | &nbsp;&nbsp; 3127824 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 89354 | &nbsp;&nbsp; 93999514 |
| &nbsp;&nbsp;&nbsp; Henry Schein, Inc.† | 12263 | &nbsp;&nbsp; 1010349 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 271092 | &nbsp;&nbsp; 67347386 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 13941 | &nbsp;&nbsp; 13764925 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 279285 | &nbsp;&nbsp; 34581069 |
| &nbsp;&nbsp;&nbsp; Pfizer, Inc. | 641440 | &nbsp;&nbsp; 17735816 |

---

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | 134065 | &nbsp;&nbsp; $2001590 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. | 49031 | &nbsp;&nbsp; 6427964 |
|  |  | &nbsp;&nbsp; 331368442 |
| **Pipelines — 0.4%** | **Pipelines — 0.4%** | **Pipelines — 0.4%** |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 220519 | &nbsp;&nbsp; 7336667 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | 71980 | &nbsp;&nbsp; 5957784 |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | 24396 | &nbsp;&nbsp; 5752577 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 136347 | &nbsp;&nbsp; 10187848 |
|  |  | &nbsp;&nbsp; 29234876 |
| **Private Equity — 0.2%** | **Private Equity — 0.2%** | **Private Equity — 0.2%** |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | 82939 | &nbsp;&nbsp; 9402795 |
| &nbsp;&nbsp;&nbsp; KKR & Co., Inc. | 76868 | &nbsp;&nbsp; 6739786 |
|  |  | &nbsp;&nbsp; 16142581 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc., Class A† | 32793 | &nbsp;&nbsp; 4842214 |
| &nbsp;&nbsp;&nbsp; CoStar Group, Inc.† | 46647 | &nbsp;&nbsp; 2081856 |
|  |  | &nbsp;&nbsp; 6924070 |
| **REITS — 1.9%** | **REITS — 1.9%** | **REITS — 1.9%** |
| &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. | 17446 | &nbsp;&nbsp; 942782 |
| &nbsp;&nbsp;&nbsp; American Tower Corp. | 52431 | &nbsp;&nbsp; 10059412 |
| &nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. | 16250 | &nbsp;&nbsp; 2879987 |
| &nbsp;&nbsp;&nbsp; BXP, Inc. | 15993 | &nbsp;&nbsp; 920877 |
| &nbsp;&nbsp;&nbsp; Camden Property Trust | 11988 | &nbsp;&nbsp; 1298780 |
| &nbsp;&nbsp;&nbsp; Crown Castle, Inc. | 49774 | &nbsp;&nbsp; 4456764 |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 36130 | &nbsp;&nbsp; 6402236 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | 11128 | &nbsp;&nbsp; 10841565 |
| &nbsp;&nbsp;&nbsp; Equity Residential | 37932 | &nbsp;&nbsp; 2397682 |
| &nbsp;&nbsp;&nbsp; Essex Property Trust, Inc. | 6849 | &nbsp;&nbsp; 1747248 |
| &nbsp;&nbsp;&nbsp; Extra Space Storage, Inc. | 23225 | &nbsp;&nbsp; 3507672 |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust | 7934 | &nbsp;&nbsp; 862981 |
| &nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc. | 78740 | &nbsp;&nbsp; 1392123 |
| &nbsp;&nbsp;&nbsp; Host Hotels & Resorts, Inc. | 67286 | &nbsp;&nbsp; 1318133 |
| &nbsp;&nbsp;&nbsp; Invitation Homes, Inc. | 60220 | &nbsp;&nbsp; 1586195 |
| &nbsp;&nbsp;&nbsp; Iron Mountain, Inc. | 33921 | &nbsp;&nbsp; 3674662 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | 78365 | &nbsp;&nbsp; 1845496 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. | 13757 | &nbsp;&nbsp; 1841512 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | 104536 | &nbsp;&nbsp; 14903698 |
| &nbsp;&nbsp;&nbsp; Public Storage | 18049 | &nbsp;&nbsp; 5542126 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | 102576 | &nbsp;&nbsp; 6872592 |
| &nbsp;&nbsp;&nbsp; Regency Centers Corp. | 18340 | &nbsp;&nbsp; 1448860 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp. | 12038 | &nbsp;&nbsp; 2421564 |
| &nbsp;&nbsp;&nbsp; Simon Property Group, Inc. | 37252 | &nbsp;&nbsp; 7593820 |
| &nbsp;&nbsp;&nbsp; UDR, Inc. | 33827 | &nbsp;&nbsp; 1268513 |
| &nbsp;&nbsp;&nbsp; Ventas, Inc. | 53209 | &nbsp;&nbsp; 4584487 |
| &nbsp;&nbsp;&nbsp; VICI Properties, Inc. | 117054 | &nbsp;&nbsp; 3536201 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc. | 77228 | &nbsp;&nbsp; 15995463 |
| &nbsp;&nbsp;&nbsp; Weyerhaeuser Co. | 77689 | &nbsp;&nbsp; 1905711 |
|  |  | &nbsp;&nbsp; 124049142 |
| **Retail — 4.6%** | **Retail — 4.6%** | **Retail — 4.6%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 1847 | &nbsp;&nbsp; 6936556 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 22238 | &nbsp;&nbsp; 1378089 |
| &nbsp;&nbsp;&nbsp; Carvana Co.† | 15913 | &nbsp;&nbsp; 5317488 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.† | 146240 | &nbsp;&nbsp; 5443053 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 49866 | &nbsp;&nbsp; 50404054 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 13081 | &nbsp;&nbsp; 2797372 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | 24743 | &nbsp;&nbsp; 3865846 |
| &nbsp;&nbsp;&nbsp; Dollar Tree, Inc.† | 22033 | &nbsp;&nbsp; 2786734 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 3582 | &nbsp;&nbsp; 1441791 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | 14962 | &nbsp;&nbsp; $1784368 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 111869 | &nbsp;&nbsp; 42590766 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | 63251 | &nbsp;&nbsp; 16734317 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.† | 11895 | &nbsp;&nbsp; 2202597 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 80270 | &nbsp;&nbsp; 27376886 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 94989 | &nbsp;&nbsp; 8917567 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 37063 | &nbsp;&nbsp; 7621635 |
| &nbsp;&nbsp;&nbsp; Starbucks Corp. | 127590 | &nbsp;&nbsp; 12506372 |
| &nbsp;&nbsp;&nbsp; Target Corp. | 50414 | &nbsp;&nbsp; 5736609 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 124934 | &nbsp;&nbsp; 20196830 |
| &nbsp;&nbsp;&nbsp; Tractor Supply Co. | 58270 | &nbsp;&nbsp; 3020717 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 5142 | &nbsp;&nbsp; 3521190 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 493404 | &nbsp;&nbsp; 63131042 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 13714 | &nbsp;&nbsp; 2820284 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 31722 | &nbsp;&nbsp; 5334372 |
|  |  | &nbsp;&nbsp; 303866535 |
| **Semiconductors — 14.1%** | **Semiconductors — 14.1%** | **Semiconductors — 14.1%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 183631 | &nbsp;&nbsp; 36764762 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 55305 | &nbsp;&nbsp; 19676966 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 89480 | &nbsp;&nbsp; 33313404 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 531356 | &nbsp;&nbsp; 169794810 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 504531 | &nbsp;&nbsp; 23011659 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 14757 | &nbsp;&nbsp; 22497784 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 140943 | &nbsp;&nbsp; 32965158 |
| &nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | 59822 | &nbsp;&nbsp; 4465114 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 126299 | &nbsp;&nbsp; 52081919 |
| &nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 5440 | &nbsp;&nbsp; 6216506 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 2734214 | &nbsp;&nbsp; 484475379 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | 27968 | &nbsp;&nbsp; 6349016 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp.† | 46265 | &nbsp;&nbsp; 3075697 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 119896 | &nbsp;&nbsp; 17068394 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. | 18144 | &nbsp;&nbsp; 1081019 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | 17820 | &nbsp;&nbsp; 5702935 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 102607 | &nbsp;&nbsp; 21763971 |
|  |  | &nbsp;&nbsp; 940304493 |
| **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** | **Shipbuilding — 0.0%** |
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries, Inc. | 4327 | &nbsp;&nbsp; 1923438 |
| **Software — 7.9%** | **Software — 7.9%** | **Software — 7.9%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 47102 | &nbsp;&nbsp; 12360036 |
| &nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.† | 16892 | &nbsp;&nbsp; 1662004 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 23792 | &nbsp;&nbsp; 5849739 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 13388 | &nbsp;&nbsp; 2488428 |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.† | 30557 | &nbsp;&nbsp; 9209880 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc., Class A† | 36949 | &nbsp;&nbsp; 4136810 |
| &nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 24767 | &nbsp;&nbsp; 4967517 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.† | 2662 | &nbsp;&nbsp; 3751716 |
| &nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. | 57217 | &nbsp;&nbsp; 2915778 |
| &nbsp;&nbsp;&nbsp; Fiserv, Inc.† | 61556 | &nbsp;&nbsp; 3834323 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 31274 | &nbsp;&nbsp; 12792004 |
| &nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. | 8217 | &nbsp;&nbsp; 1334934 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 836285 | &nbsp;&nbsp; 328442571 |
| &nbsp;&nbsp;&nbsp; MSCI, Inc. | 8605 | &nbsp;&nbsp; 4920597 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 189517 | &nbsp;&nbsp; 27555772 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 256572 | &nbsp;&nbsp; 35199113 |
| &nbsp;&nbsp;&nbsp; Paychex, Inc. | 36977 | &nbsp;&nbsp; 3462896 |
| &nbsp;&nbsp;&nbsp; Paycom Software, Inc. | 4839 | &nbsp;&nbsp; 608892 |
| &nbsp;&nbsp;&nbsp; PTC, Inc.† | 13275 | &nbsp;&nbsp; 2078732 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | 12300 | &nbsp;&nbsp; 4301679 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 106890 | &nbsp;&nbsp; 20821103 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 116299 | &nbsp;&nbsp; 12561455 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc.† | 21170 | &nbsp;&nbsp; 8764380 |

---

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.† | 19471 | &nbsp;&nbsp; $4117727 |
| &nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.† | 4744 | &nbsp;&nbsp; 1682649 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 24259 | &nbsp;&nbsp; 3244884 |
|  |  | &nbsp;&nbsp; 523065619 |
| **Telecommunications — 2.1%** | **Telecommunications — 2.1%** | **Telecommunications — 2.1%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 116243 | &nbsp;&nbsp; 15518441 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 800372 | &nbsp;&nbsp; 22418420 |
| &nbsp;&nbsp;&nbsp; Ciena Corp.† | 15806 | &nbsp;&nbsp; 5511552 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 444294 | &nbsp;&nbsp; 35303601 |
| &nbsp;&nbsp;&nbsp; Corning, Inc. | 88301 | &nbsp;&nbsp; 13278704 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 18509 | &nbsp;&nbsp; 8926150 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 54359 | &nbsp;&nbsp; 11800795 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 476163 | &nbsp;&nbsp; 23874813 |
|  |  | &nbsp;&nbsp; 136632476 |
| **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** | **Toys/Games/Hobbies — 0.0%** |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 14399 | &nbsp;&nbsp; 1433996 |
| **Transportation — 1.0%** | **Transportation — 1.0%** | **Transportation — 1.0%** |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 13692 | &nbsp;&nbsp; 2536443 |
| &nbsp;&nbsp;&nbsp; CSX Corp. | 211532 | &nbsp;&nbsp; 9030301 |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc. | 14934 | &nbsp;&nbsp; 2165878 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | 24506 | &nbsp;&nbsp; 9483822 |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 8822 | &nbsp;&nbsp; 2059143 |
| &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 24962 | &nbsp;&nbsp; 7856540 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 20323 | &nbsp;&nbsp; 4126585 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 66844 | &nbsp;&nbsp; 17712323 |
| &nbsp;&nbsp;&nbsp; United Parcel Service, Inc., Class B | 83765 | &nbsp;&nbsp; 9713390 |
|  |  | &nbsp;&nbsp; 64684425 |
| **Water — 0.0%** | **Water — 0.0%** | **Water — 0.0%** |
| &nbsp;&nbsp;&nbsp; American Water Works Co., Inc. | 22201 | &nbsp;&nbsp; 3020002 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $1,953,312,609)<br>|  | &nbsp;&nbsp; 6614504591 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 0.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iShares Core S&P 500 ETF <br>(cost $2,740)<br>| 5 | &nbsp;&nbsp; $3447 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $1,953,315,349)<br>|  | &nbsp;&nbsp; 6614508038 |
| **SHORT-TERM INVESTMENTS — 0.4%** | **SHORT-TERM INVESTMENTS — 0.4%** | **SHORT-TERM INVESTMENTS — 0.4%** |
| **Unaffiliated Investment Companies — 0.4%** | **Unaffiliated Investment Companies — 0.4%** | **Unaffiliated Investment Companies — 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class <br>3.63%(1) <br>(cost $27,759,992)<br>| 27759992 | &nbsp;&nbsp; 27759992 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $1,981,075,341)<br>| 99.8<br> %<br>| &nbsp;&nbsp; 6642268030 |
| Other assets less liabilities | 0.2 | &nbsp;&nbsp; 13260203 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $6655528233 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | &nbsp;&nbsp; The security or a portion thereof is out on loan. <br>At February 28, 2026, the Fund had loaned securities with a total value of $10,857,446. <br> This was secured by collateral of $11,161,499 received in the form of fixed income <br> pooled securities, which the Fund cannot sell or repledge and accordingly, are not <br> reflected in the Fund's assets and liabilities. The components of the fixed income pooled <br> securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $3118 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 15700 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 316736 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 08/15/2055 | 10825945 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

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

ETF—Exchange Traded Fund<br>

**Futures Contracts**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>&nbsp;&nbsp;&nbsp;&nbsp;**(Depreciation)**<br>|
| 98 | Long | S&P 500 E-Mini Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $33982885 | &nbsp;&nbsp;&nbsp;&nbsp; $33756100 | &nbsp;&nbsp;&nbsp;&nbsp; $(226785)<br>|

---

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

------

**VALIC Company I Stock Index Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $6614504591 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6614504591 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 3447 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3447 |
| Short-Term Investments | &nbsp;&nbsp; 27759992 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 27759992 |
| **Total Investments at Value** | &nbsp;&nbsp; $6642268030 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $6642268030 |
| **LIABILITIES:** |  |  |  |  |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $226785 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $226785 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

------

**VALIC Company I Systematic Core Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** | **COMMON STOCKS — 99.1%** |
| **Aerospace/Defense — 0.0%** | **Aerospace/Defense — 0.0%** | **Aerospace/Defense — 0.0%** |
| &nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. | 180 | &nbsp;&nbsp; $126059 |
| **Agriculture — 0.7%** | **Agriculture — 0.7%** | **Agriculture — 0.7%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | 27556 | &nbsp;&nbsp; 1902466 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 14838 | &nbsp;&nbsp; 2772184 |
|  |  | &nbsp;&nbsp; 4674650 |
| **Airlines — 0.2%** | **Airlines — 0.2%** | **Airlines — 0.2%** |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.† | 10597 | &nbsp;&nbsp; 1126461 |
| **Apparel — 1.3%** | **Apparel — 1.3%** | **Apparel — 1.3%** |
| &nbsp;&nbsp;&nbsp; Columbia Sportswear Co. | 14268 | &nbsp;&nbsp; 883760 |
| &nbsp;&nbsp;&nbsp; Crocs, Inc.† | 10838 | &nbsp;&nbsp; 983115 |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 5193 | &nbsp;&nbsp; 608983 |
| &nbsp;&nbsp;&nbsp; On Holding AG, Class A† | 5201 | &nbsp;&nbsp; 241743 |
| &nbsp;&nbsp;&nbsp; PVH Corp. | 12980 | &nbsp;&nbsp; 890428 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 5900 | &nbsp;&nbsp; 2139340 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. | 21286 | &nbsp;&nbsp; 3309334 |
|  |  | &nbsp;&nbsp; 9056703 |
| **Auto Manufacturers — 1.1%** | **Auto Manufacturers — 1.1%** | **Auto Manufacturers — 1.1%** |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | 324 | &nbsp;&nbsp; 189174 |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 18193 | &nbsp;&nbsp; 7322864 |
|  |  | &nbsp;&nbsp; 7512038 |
| **Auto Parts & Equipment — 0.4%** | **Auto Parts & Equipment — 0.4%** | **Auto Parts & Equipment — 0.4%** |
| &nbsp;&nbsp;&nbsp; Allison Transmission Holdings, Inc. | 1876 | &nbsp;&nbsp; 235063 |
| &nbsp;&nbsp;&nbsp; Aptiv PLC† | 11661 | &nbsp;&nbsp; 857550 |
| &nbsp;&nbsp;&nbsp; BorgWarner, Inc. | 29350 | &nbsp;&nbsp; 1689679 |
|  |  | &nbsp;&nbsp; 2782292 |
| **Banks — 4.6%** | **Banks — 4.6%** | **Banks — 4.6%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 64890 | &nbsp;&nbsp; 3233469 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 22227 | &nbsp;&nbsp; 2647236 |
| &nbsp;&nbsp;&nbsp; Bank OZK | 5569 | &nbsp;&nbsp; 259293 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 19153 | &nbsp;&nbsp; 2110469 |
| &nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 6815 | &nbsp;&nbsp; 745902 |
| &nbsp;&nbsp;&nbsp; First Horizon Corp. | 4600 | &nbsp;&nbsp; 109434 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 34289 | &nbsp;&nbsp; 10296987 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley | 16788 | &nbsp;&nbsp; 2795370 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp. | 12696 | &nbsp;&nbsp; 1816670 |
| &nbsp;&nbsp;&nbsp; NU Holdings, Ltd., Class A† | 19973 | &nbsp;&nbsp; 299195 |
| &nbsp;&nbsp;&nbsp; Popular, Inc. | 8339 | &nbsp;&nbsp; 1128767 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | 15400 | &nbsp;&nbsp; 1980748 |
| &nbsp;&nbsp;&nbsp; US Bancorp | 6673 | &nbsp;&nbsp; 364746 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | 35505 | &nbsp;&nbsp; 2891882 |
| &nbsp;&nbsp;&nbsp; Zions Bancorp NA | 6403 | &nbsp;&nbsp; 366764 |
|  |  | &nbsp;&nbsp; 31046932 |
| **Beverages — 1.3%** | **Beverages — 1.3%** | **Beverages — 1.3%** |
| &nbsp;&nbsp;&nbsp; Boston Beer Co., Inc., Class A† | 7651 | &nbsp;&nbsp; 1735094 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Co. | 19816 | &nbsp;&nbsp; 1616193 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 12918 | &nbsp;&nbsp; 2614603 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 22017 | &nbsp;&nbsp; 1878050 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 6668 | &nbsp;&nbsp; 1131826 |
|  |  | &nbsp;&nbsp; 8975766 |
| **Biotechnology — 2.8%** | **Biotechnology — 2.8%** | **Biotechnology — 2.8%** |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.† | 1522 | &nbsp;&nbsp; 506704 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 1077 | &nbsp;&nbsp; 418048 |
| &nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc.† | 6259 | &nbsp;&nbsp; 131189 |
| &nbsp;&nbsp;&nbsp; Biogen, Inc.† | 3532 | &nbsp;&nbsp; 677508 |
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.† | 2769 | &nbsp;&nbsp; 170930 |
| &nbsp;&nbsp;&nbsp; Corteva, Inc. | 8120 | &nbsp;&nbsp; 650574 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Biotechnology (continued)** | **Biotechnology (continued)** | **Biotechnology (continued)** |
| &nbsp;&nbsp;&nbsp; Exelixis, Inc.† | 65537 | &nbsp;&nbsp; $2887560 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 26163 | &nbsp;&nbsp; 3896979 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.† | 19377 | &nbsp;&nbsp; 1347283 |
| &nbsp;&nbsp;&nbsp; Illumina, Inc.† | 5154 | &nbsp;&nbsp; 693007 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 28570 | &nbsp;&nbsp; 2893284 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 804 | &nbsp;&nbsp; 628463 |
| &nbsp;&nbsp;&nbsp; Roivant Sciences, Ltd.† | 13234 | &nbsp;&nbsp; 382992 |
| &nbsp;&nbsp;&nbsp; Summit Therapeutics, Inc.#† | 20458 | &nbsp;&nbsp; 339398 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp.† | 3826 | &nbsp;&nbsp; 1927922 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 3102 | &nbsp;&nbsp; 1541167 |
|  |  | &nbsp;&nbsp; 19093008 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. | 5925 | &nbsp;&nbsp; 1027988 |
| &nbsp;&nbsp;&nbsp; Builders FirstSource, Inc.† | 13298 | &nbsp;&nbsp; 1386848 |
| &nbsp;&nbsp;&nbsp; CRH PLC | 2004 | &nbsp;&nbsp; 240440 |
| &nbsp;&nbsp;&nbsp; Masco Corp. | 8132 | &nbsp;&nbsp; 582414 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 1039 | &nbsp;&nbsp; 480350 |
|  |  | &nbsp;&nbsp; 3718040 |
| **Chemicals — 0.4%** | **Chemicals — 0.4%** | **Chemicals — 0.4%** |
| &nbsp;&nbsp;&nbsp; CF Industries Holdings, Inc. | 9303 | &nbsp;&nbsp; 926021 |
| &nbsp;&nbsp;&nbsp; Ecolab, Inc. | 302 | &nbsp;&nbsp; 93122 |
| &nbsp;&nbsp;&nbsp; NewMarket Corp. | 2455 | &nbsp;&nbsp; 1536854 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. | 808 | &nbsp;&nbsp; 92209 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 228 | &nbsp;&nbsp; 82670 |
|  |  | &nbsp;&nbsp; 2730876 |
| **Commercial Services — 1.4%** | **Commercial Services — 1.4%** | **Commercial Services — 1.4%** |
| &nbsp;&nbsp;&nbsp; ADT, Inc. | 138652 | &nbsp;&nbsp; 1111989 |
| &nbsp;&nbsp;&nbsp; API Group Corp.† | 18924 | &nbsp;&nbsp; 841361 |
| &nbsp;&nbsp;&nbsp; Block, Inc.† | 3561 | &nbsp;&nbsp; 226836 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. | 2456 | &nbsp;&nbsp; 193606 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 2497 | &nbsp;&nbsp; 502222 |
| &nbsp;&nbsp;&nbsp; Euronet Worldwide, Inc.† | 6880 | &nbsp;&nbsp; 478504 |
| &nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.† | 10445 | &nbsp;&nbsp; 1661486 |
| &nbsp;&nbsp;&nbsp; H&R Block, Inc. | 33256 | &nbsp;&nbsp; 1018299 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 1079 | &nbsp;&nbsp; 515320 |
| &nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. | 13342 | &nbsp;&nbsp; 616534 |
| &nbsp;&nbsp;&nbsp; Robert Half, Inc. | 2816 | &nbsp;&nbsp; 68767 |
| &nbsp;&nbsp;&nbsp; Rollins, Inc. | 23349 | &nbsp;&nbsp; 1421720 |
| &nbsp;&nbsp;&nbsp; WEX, Inc.† | 4444 | &nbsp;&nbsp; 663000 |
|  |  | &nbsp;&nbsp; 9319644 |
| **Computers — 8.1%** | **Computers — 8.1%** | **Computers — 8.1%** |
| &nbsp;&nbsp;&nbsp; Accenture PLC, Class A | 3989 | &nbsp;&nbsp; 832584 |
| &nbsp;&nbsp;&nbsp; Amdocs, Ltd. | 12574 | &nbsp;&nbsp; 877665 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 165293 | &nbsp;&nbsp; 43667105 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc., Class A† | 2713 | &nbsp;&nbsp; 1655391 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | 15577 | &nbsp;&nbsp; 1003626 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | 1999 | &nbsp;&nbsp; 296012 |
| &nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.† | 16938 | &nbsp;&nbsp; 529313 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 5683 | &nbsp;&nbsp; 449128 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc.† | 1787 | &nbsp;&nbsp; 280916 |
| &nbsp;&nbsp;&nbsp; Genpact, Ltd. | 34552 | &nbsp;&nbsp; 1372405 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | 7627 | &nbsp;&nbsp; 1832082 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc.† | 16876 | &nbsp;&nbsp; 208081 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 3542 | &nbsp;&nbsp; 620204 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 5044 | &nbsp;&nbsp; 499507 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc., Class A† | 5562 | &nbsp;&nbsp; 357192 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 2938 | &nbsp;&nbsp; 821759 |
|  |  | &nbsp;&nbsp; 55302970 |

---

------

**VALIC Company I Systematic Core Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Cosmetics/Personal Care — 0.5%** | **Cosmetics/Personal Care — 0.5%** | **Cosmetics/Personal Care — 0.5%** |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 7134 | &nbsp;&nbsp; $707265 |
| &nbsp;&nbsp;&nbsp; Estee Lauder Cos., Inc., Class A | 2764 | &nbsp;&nbsp; 302575 |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 15748 | &nbsp;&nbsp; 2633065 |
|  |  | &nbsp;&nbsp; 3642905 |
| **Distribution/Wholesale — 1.0%** | **Distribution/Wholesale — 1.0%** | **Distribution/Wholesale — 1.0%** |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A† | 23959 | &nbsp;&nbsp; 1297619 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | 28953 | &nbsp;&nbsp; 1332996 |
| &nbsp;&nbsp;&nbsp; LKQ Corp. | 33254 | &nbsp;&nbsp; 1101040 |
| &nbsp;&nbsp;&nbsp; SiteOne Landscape Supply, Inc.† | 5742 | &nbsp;&nbsp; 820474 |
| &nbsp;&nbsp;&nbsp; WESCO International, Inc. | 3908 | &nbsp;&nbsp; 1131366 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 865 | &nbsp;&nbsp; 990192 |
|  |  | &nbsp;&nbsp; 6673687 |
| **Diversified Financial Services — 5.2%** | **Diversified Financial Services — 5.2%** | **Diversified Financial Services — 5.2%** |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. | 5567 | &nbsp;&nbsp; 1704504 |
| &nbsp;&nbsp;&nbsp; American Express Co. | 7560 | &nbsp;&nbsp; 2335284 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 3120 | &nbsp;&nbsp; 1466774 |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 3651 | &nbsp;&nbsp; 1094278 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 15799 | &nbsp;&nbsp; 1504065 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | 3436 | &nbsp;&nbsp; 1097802 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp.#† | 1609 | &nbsp;&nbsp; 761347 |
| &nbsp;&nbsp;&nbsp; Evercore, Inc., Class A | 436 | &nbsp;&nbsp; 134654 |
| &nbsp;&nbsp;&nbsp; Lazard, Inc. | 17228 | &nbsp;&nbsp; 871737 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 1536 | &nbsp;&nbsp; 461384 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 9674 | &nbsp;&nbsp; 5003489 |
| &nbsp;&nbsp;&nbsp; OneMain Holdings, Inc. | 32417 | &nbsp;&nbsp; 1783583 |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, Inc. | 5311 | &nbsp;&nbsp; 813008 |
| &nbsp;&nbsp;&nbsp; SEI Investments Co. | 13490 | &nbsp;&nbsp; 1097007 |
| &nbsp;&nbsp;&nbsp; SLM Corp. | 69877 | &nbsp;&nbsp; 1309495 |
| &nbsp;&nbsp;&nbsp; SoFi Technologies, Inc.† | 37758 | &nbsp;&nbsp; 670582 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 32868 | &nbsp;&nbsp; 2271507 |
| &nbsp;&nbsp;&nbsp; T. Rowe Price Group, Inc. | 4058 | &nbsp;&nbsp; 384009 |
| &nbsp;&nbsp;&nbsp; Virtu Financial, Inc., Class A | 45573 | &nbsp;&nbsp; 1887178 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 19081 | &nbsp;&nbsp; 6108591 |
| &nbsp;&nbsp;&nbsp; Western Union Co.# | 233708 | &nbsp;&nbsp; 2250608 |
| &nbsp;&nbsp;&nbsp; XP, Inc., Class A | 13930 | &nbsp;&nbsp; 299913 |
|  |  | &nbsp;&nbsp; 35310799 |
| **Electric — 0.2%** | **Electric — 0.2%** | **Electric — 0.2%** |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 7568 | &nbsp;&nbsp; 1354369 |
| **Electrical Components & Equipment — 0.3%** | **Electrical Components & Equipment — 0.3%** | **Electrical Components & Equipment — 0.3%** |
| &nbsp;&nbsp;&nbsp; Acuity, Inc. | 5962 | &nbsp;&nbsp; 1798080 |
| &nbsp;&nbsp;&nbsp; Generac Holdings, Inc.† | 1725 | &nbsp;&nbsp; 388763 |
|  |  | &nbsp;&nbsp; 2186843 |
| **Electronics — 0.7%** | **Electronics — 0.7%** | **Electronics — 0.7%** |
| &nbsp;&nbsp;&nbsp; Allegion PLC | 7276 | &nbsp;&nbsp; 1172527 |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 6916 | &nbsp;&nbsp; 1010151 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | 605 | &nbsp;&nbsp; 160319 |
| &nbsp;&nbsp;&nbsp; Keysight Technologies, Inc.† | 1400 | &nbsp;&nbsp; 430262 |
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc.† | 380 | &nbsp;&nbsp; 519342 |
| &nbsp;&nbsp;&nbsp; Vontier Corp. | 30918 | &nbsp;&nbsp; 1265165 |
|  |  | &nbsp;&nbsp; 4557766 |
| **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** | **Engineering & Construction — 0.6%** |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | 1033 | &nbsp;&nbsp; 1476539 |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 3632 | &nbsp;&nbsp; 2631820 |
| &nbsp;&nbsp;&nbsp; TopBuild Corp.† | 169 | &nbsp;&nbsp; 75763 |
|  |  | &nbsp;&nbsp; 4184122 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.#† | 1229 | &nbsp;&nbsp; 199270 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp; Veralto Corp. | 4664 | &nbsp;&nbsp; $454414 |
| **Food — 1.9%** | **Food — 1.9%** | **Food — 1.9%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc., Class A | 95897 | &nbsp;&nbsp; 1716556 |
| &nbsp;&nbsp;&nbsp; Flowers Foods, Inc. | 84292 | &nbsp;&nbsp; 832805 |
| &nbsp;&nbsp;&nbsp; Ingredion, Inc. | 999 | &nbsp;&nbsp; 117343 |
| &nbsp;&nbsp;&nbsp; Kroger Co. | 41773 | &nbsp;&nbsp; 2850589 |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co.† | 17539 | &nbsp;&nbsp; 1702335 |
| &nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp. | 3807 | &nbsp;&nbsp; 164310 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc.† | 12934 | &nbsp;&nbsp; 955435 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 17224 | &nbsp;&nbsp; 1570140 |
| &nbsp;&nbsp;&nbsp; US Foods Holding Corp.† | 31280 | &nbsp;&nbsp; 3021961 |
|  |  | &nbsp;&nbsp; 12931474 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| &nbsp;&nbsp;&nbsp; UGI Corp. | 21518 | &nbsp;&nbsp; 804988 |
| **Hand/Machine Tools — 0.2%** | **Hand/Machine Tools — 0.2%** | **Hand/Machine Tools — 0.2%** |
| &nbsp;&nbsp;&nbsp; Lincoln Electric Holdings, Inc. | 2066 | &nbsp;&nbsp; 593045 |
| &nbsp;&nbsp;&nbsp; Snap-on, Inc. | 2022 | &nbsp;&nbsp; 778915 |
|  |  | &nbsp;&nbsp; 1371960 |
| **Healthcare-Products — 1.3%** | **Healthcare-Products — 1.3%** | **Healthcare-Products — 1.3%** |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | 14746 | &nbsp;&nbsp; 1715697 |
| &nbsp;&nbsp;&nbsp; Align Technology, Inc.† | 3531 | &nbsp;&nbsp; 671243 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 12590 | &nbsp;&nbsp; 967541 |
| &nbsp;&nbsp;&nbsp; Envista Holdings Corp.† | 41923 | &nbsp;&nbsp; 1224571 |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc., Class A† | 9279 | &nbsp;&nbsp; 885773 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 779 | &nbsp;&nbsp; 511593 |
| &nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.† | 2541 | &nbsp;&nbsp; 163920 |
| &nbsp;&nbsp;&nbsp; Insulet Corp.† | 271 | &nbsp;&nbsp; 66831 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 6294 | &nbsp;&nbsp; 614672 |
| &nbsp;&nbsp;&nbsp; Natera, Inc.† | 2506 | &nbsp;&nbsp; 521348 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 3172 | &nbsp;&nbsp; 812857 |
| &nbsp;&nbsp;&nbsp; Tempus AI, Inc.#† | 1952 | &nbsp;&nbsp; 103944 |
| &nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 2724 | &nbsp;&nbsp; 268151 |
|  |  | &nbsp;&nbsp; 8528141 |
| **Healthcare-Services — 1.2%** | **Healthcare-Services — 1.2%** | **Healthcare-Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 3078 | &nbsp;&nbsp; 1262011 |
| &nbsp;&nbsp;&nbsp; Cigna Group | 354 | &nbsp;&nbsp; 102596 |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 447 | &nbsp;&nbsp; 143040 |
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | 894 | &nbsp;&nbsp; 96445 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 2145 | &nbsp;&nbsp; 1136207 |
| &nbsp;&nbsp;&nbsp; Humana, Inc. | 6196 | &nbsp;&nbsp; 1180586 |
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | 2759 | &nbsp;&nbsp; 797682 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc.† | 408 | &nbsp;&nbsp; 184318 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | 4278 | &nbsp;&nbsp; 906551 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 8131 | &nbsp;&nbsp; 2384578 |
|  |  | &nbsp;&nbsp; 8194014 |
| **Home Builders — 0.1%** | **Home Builders — 0.1%** | **Home Builders — 0.1%** |
| &nbsp;&nbsp;&nbsp; NVR, Inc.† | 37 | &nbsp;&nbsp; 278158 |
| &nbsp;&nbsp;&nbsp; Thor Industries, Inc. | 4974 | &nbsp;&nbsp; 478151 |
|  |  | &nbsp;&nbsp; 756309 |
| **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** | **Home Furnishings — 0.2%** |
| &nbsp;&nbsp;&nbsp; Dolby Laboratories, Inc., Class A | 2559 | &nbsp;&nbsp; 170353 |
| &nbsp;&nbsp;&nbsp; SharkNinja, Inc.† | 9309 | &nbsp;&nbsp; 1143797 |
|  |  | &nbsp;&nbsp; 1314150 |
| **Insurance — 6.5%** | **Insurance — 6.5%** | **Insurance — 6.5%** |
| &nbsp;&nbsp;&nbsp; Aflac, Inc. | 2247 | &nbsp;&nbsp; 253754 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. | 11778 | &nbsp;&nbsp; 2526616 |
| &nbsp;&nbsp;&nbsp; American Financial Group, Inc. | 7014 | &nbsp;&nbsp; 932722 |

---

------

**VALIC Company I Systematic Core Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 2865 | &nbsp;&nbsp; $961121 |
| &nbsp;&nbsp;&nbsp; Arch Capital Group, Ltd.† | 11036 | &nbsp;&nbsp; 1105255 |
| &nbsp;&nbsp;&nbsp; Assurant, Inc. | 1708 | &nbsp;&nbsp; 392140 |
| &nbsp;&nbsp;&nbsp; Axis Capital Holdings, Ltd. | 18908 | &nbsp;&nbsp; 1998954 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B† | 19860 | &nbsp;&nbsp; 10028307 |
| &nbsp;&nbsp;&nbsp; Chubb, Ltd. | 4964 | &nbsp;&nbsp; 1692029 |
| &nbsp;&nbsp;&nbsp; Cincinnati Financial Corp. | 3972 | &nbsp;&nbsp; 651329 |
| &nbsp;&nbsp;&nbsp; Fidelity National Financial, Inc. | 9959 | &nbsp;&nbsp; 526632 |
| &nbsp;&nbsp;&nbsp; Globe Life, Inc. | 15061 | &nbsp;&nbsp; 2187761 |
| &nbsp;&nbsp;&nbsp; Hanover Insurance Group, Inc. | 9621 | &nbsp;&nbsp; 1737841 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. | 17132 | &nbsp;&nbsp; 2412700 |
| &nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 207 | &nbsp;&nbsp; 80662 |
| &nbsp;&nbsp;&nbsp; Lincoln National Corp. | 42665 | &nbsp;&nbsp; 1463409 |
| &nbsp;&nbsp;&nbsp; Loews Corp. | 4922 | &nbsp;&nbsp; 541518 |
| &nbsp;&nbsp;&nbsp; Markel Group, Inc.† | 275 | &nbsp;&nbsp; 569929 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 4401 | &nbsp;&nbsp; 821843 |
| &nbsp;&nbsp;&nbsp; MetLife, Inc. | 2911 | &nbsp;&nbsp; 209796 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 51610 | &nbsp;&nbsp; 1369213 |
| &nbsp;&nbsp;&nbsp; Old Republic International Corp. | 38434 | &nbsp;&nbsp; 1647666 |
| &nbsp;&nbsp;&nbsp; Primerica, Inc. | 4895 | &nbsp;&nbsp; 1241666 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 10902 | &nbsp;&nbsp; 2329321 |
| &nbsp;&nbsp;&nbsp; RenaissanceRe Holdings, Ltd. | 5427 | &nbsp;&nbsp; 1641450 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. | 7248 | &nbsp;&nbsp; 2237023 |
| &nbsp;&nbsp;&nbsp; Unum Group | 10403 | &nbsp;&nbsp; 746207 |
| &nbsp;&nbsp;&nbsp; W.R. Berkley Corp. | 24249 | &nbsp;&nbsp; 1738653 |
| &nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | 1534 | &nbsp;&nbsp; 468131 |
|  |  | &nbsp;&nbsp; 44513648 |
| **Internet — 14.9%** | **Internet — 14.9%** | **Internet — 14.9%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 64380 | &nbsp;&nbsp; 20071109 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 52543 | &nbsp;&nbsp; 16363466 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 100731 | &nbsp;&nbsp; 21153510 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 5155 | &nbsp;&nbsp; 2241239 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 507 | &nbsp;&nbsp; 2149350 |
| &nbsp;&nbsp;&nbsp; Chewy, Inc., Class A† | 25218 | &nbsp;&nbsp; 691478 |
| &nbsp;&nbsp;&nbsp; Coupang, Inc.† | 32094 | &nbsp;&nbsp; 612354 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 2716 | &nbsp;&nbsp; 479293 |
| &nbsp;&nbsp;&nbsp; eBay, Inc. | 14296 | &nbsp;&nbsp; 1298935 |
| &nbsp;&nbsp;&nbsp; Etsy, Inc.† | 32079 | &nbsp;&nbsp; 1760495 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 9580 | &nbsp;&nbsp; 2066310 |
| &nbsp;&nbsp;&nbsp; F5, Inc.† | 5178 | &nbsp;&nbsp; 1405102 |
| &nbsp;&nbsp;&nbsp; IAC, Inc.† | 12101 | &nbsp;&nbsp; 463710 |
| &nbsp;&nbsp;&nbsp; Lyft, Inc., Class A† | 83075 | &nbsp;&nbsp; 1149758 |
| &nbsp;&nbsp;&nbsp; Maplebear, Inc.† | 27692 | &nbsp;&nbsp; 1038727 |
| &nbsp;&nbsp;&nbsp; Match Group, Inc. | 52037 | &nbsp;&nbsp; 1644369 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 23488 | &nbsp;&nbsp; 15224452 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 35446 | &nbsp;&nbsp; 3411323 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc., Class A† | 30567 | &nbsp;&nbsp; 523613 |
| &nbsp;&nbsp;&nbsp; Reddit, Inc., Class A† | 1438 | &nbsp;&nbsp; 209675 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 12284 | &nbsp;&nbsp; 931741 |
| &nbsp;&nbsp;&nbsp; Roku, Inc.† | 9989 | &nbsp;&nbsp; 983017 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 1074 | &nbsp;&nbsp; 553046 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 16030 | &nbsp;&nbsp; 1208983 |
| &nbsp;&nbsp;&nbsp; VeriSign, Inc. | 9430 | &nbsp;&nbsp; 2149474 |
| &nbsp;&nbsp;&nbsp; Wayfair, Inc., Class A† | 17745 | &nbsp;&nbsp; 1354476 |
|  |  | &nbsp;&nbsp; 101139005 |
| **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** | **Iron/Steel — 0.2%** |
| &nbsp;&nbsp;&nbsp; Reliance, Inc. | 4550 | &nbsp;&nbsp; 1436162 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Leisure Time — 0.3%** | **Leisure Time — 0.3%** | **Leisure Time — 0.3%** |
| &nbsp;&nbsp;&nbsp; Carnival Corp. | 6683 | &nbsp;&nbsp; $210849 |
| &nbsp;&nbsp;&nbsp; YETI Holdings, Inc.† | 37279 | &nbsp;&nbsp; 1629465 |
|  |  | &nbsp;&nbsp; 1840314 |
| **Lodging — 0.4%** | **Lodging — 0.4%** | **Lodging — 0.4%** |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp. | 15254 | &nbsp;&nbsp; 1269591 |
| &nbsp;&nbsp;&nbsp; Travel & Leisure Co. | 17302 | &nbsp;&nbsp; 1275157 |
|  |  | &nbsp;&nbsp; 2544748 |
| **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** | **Machinery-Construction & Mining — 0.6%** |
| &nbsp;&nbsp;&nbsp; Caterpillar, Inc. | 2131 | &nbsp;&nbsp; 1582971 |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 2728 | &nbsp;&nbsp; 2383181 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 1167 | &nbsp;&nbsp; 297456 |
|  |  | &nbsp;&nbsp; 4263608 |
| **Machinery-Diversified — 0.5%** | **Machinery-Diversified — 0.5%** | **Machinery-Diversified — 0.5%** |
| &nbsp;&nbsp;&nbsp; AGCO Corp. | 2565 | &nbsp;&nbsp; 350123 |
| &nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | 2981 | &nbsp;&nbsp; 842371 |
| &nbsp;&nbsp;&nbsp; Gates Industrial Corp. PLC† | 14581 | &nbsp;&nbsp; 401998 |
| &nbsp;&nbsp;&nbsp; Graco, Inc. | 1835 | &nbsp;&nbsp; 172343 |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 7605 | &nbsp;&nbsp; 703919 |
| &nbsp;&nbsp;&nbsp; Toro Co. | 9836 | &nbsp;&nbsp; 972387 |
|  |  | &nbsp;&nbsp; 3443141 |
| **Media — 1.4%** | **Media — 1.4%** | **Media — 1.4%** |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class A | 29508 | &nbsp;&nbsp; 1662481 |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class B | 30724 | &nbsp;&nbsp; 1589352 |
| &nbsp;&nbsp;&nbsp; New York Times Co., Class A | 28764 | &nbsp;&nbsp; 2295080 |
| &nbsp;&nbsp;&nbsp; News Corp., Class A | 12992 | &nbsp;&nbsp; 315576 |
| &nbsp;&nbsp;&nbsp; News Corp., Class B# | 21652 | &nbsp;&nbsp; 579841 |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | 5246 | &nbsp;&nbsp; 1316851 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 2387 | &nbsp;&nbsp; 253117 |
| &nbsp;&nbsp;&nbsp; Warner Bros. Discovery, Inc.† | 53715 | &nbsp;&nbsp; 1513151 |
|  |  | &nbsp;&nbsp; 9525449 |
| **Metal Fabricate/Hardware — 0.5%** | **Metal Fabricate/Hardware — 0.5%** | **Metal Fabricate/Hardware — 0.5%** |
| &nbsp;&nbsp;&nbsp; Mueller Industries, Inc. | 11514 | &nbsp;&nbsp; 1358192 |
| &nbsp;&nbsp;&nbsp; Valmont Industries, Inc. | 4227 | &nbsp;&nbsp; 1944124 |
|  |  | &nbsp;&nbsp; 3302316 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 13172 | &nbsp;&nbsp; 1712360 |
| **Miscellaneous Manufacturing — 0.3%** | **Miscellaneous Manufacturing — 0.3%** | **Miscellaneous Manufacturing — 0.3%** |
| &nbsp;&nbsp;&nbsp; A.O. Smith Corp. | 8710 | &nbsp;&nbsp; 679380 |
| &nbsp;&nbsp;&nbsp; Donaldson Co., Inc. | 14184 | &nbsp;&nbsp; 1315708 |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 277 | &nbsp;&nbsp; 80504 |
| &nbsp;&nbsp;&nbsp; ITT, Inc. | 1227 | &nbsp;&nbsp; 248357 |
|  |  | &nbsp;&nbsp; 2323949 |
| **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** |
| &nbsp;&nbsp;&nbsp; APA Corp. | 69507 | &nbsp;&nbsp; 2110928 |
| &nbsp;&nbsp;&nbsp; Chevron Corp. | 4379 | &nbsp;&nbsp; 817822 |
| &nbsp;&nbsp;&nbsp; Coterra Energy, Inc. | 2795 | &nbsp;&nbsp; 85499 |
| &nbsp;&nbsp;&nbsp; Devon Energy Corp. | 14214 | &nbsp;&nbsp; 618735 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 9869 | &nbsp;&nbsp; 1224545 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 30774 | &nbsp;&nbsp; 4693035 |
| &nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 1371 | &nbsp;&nbsp; 271746 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 2947 | &nbsp;&nbsp; 149089 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 850 | &nbsp;&nbsp; 173944 |
|  |  | &nbsp;&nbsp; 10145343 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; NOV, Inc. | 12096 | &nbsp;&nbsp; 245065 |

---

------

**VALIC Company I Systematic Core Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** | **Packaging & Containers — 0.0%** |
| &nbsp;&nbsp;&nbsp; Crown Holdings, Inc. | 1507 | &nbsp;&nbsp; $172702 |
| **Pharmaceuticals — 4.7%** | **Pharmaceuticals — 4.7%** | **Pharmaceuticals — 4.7%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 17506 | &nbsp;&nbsp; 4062792 |
| &nbsp;&nbsp;&nbsp; BellRing Brands, Inc.† | 7544 | &nbsp;&nbsp; 138734 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 45404 | &nbsp;&nbsp; 2831847 |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 1959 | &nbsp;&nbsp; 449062 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp. | 12464 | &nbsp;&nbsp; 995874 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 6631 | &nbsp;&nbsp; 6975746 |
| &nbsp;&nbsp;&nbsp; Henry Schein, Inc.† | 21350 | &nbsp;&nbsp; 1759027 |
| &nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals PLC† | 14654 | &nbsp;&nbsp; 2784553 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 30271 | &nbsp;&nbsp; 7520225 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 823 | &nbsp;&nbsp; 812606 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 22760 | &nbsp;&nbsp; 2818143 |
| &nbsp;&nbsp;&nbsp; Organon & Co. | 50881 | &nbsp;&nbsp; 370922 |
| &nbsp;&nbsp;&nbsp; Viatris, Inc. | 29282 | &nbsp;&nbsp; 437180 |
|  |  | &nbsp;&nbsp; 31956711 |
| **REITS — 0.3%** | **REITS — 0.3%** | **REITS — 0.3%** |
| &nbsp;&nbsp;&nbsp; AGNC Investment Corp.# | 14877 | &nbsp;&nbsp; 166771 |
| &nbsp;&nbsp;&nbsp; Annaly Capital Management, Inc. | 18882 | &nbsp;&nbsp; 438818 |
| &nbsp;&nbsp;&nbsp; Rithm Capital Corp. | 129820 | &nbsp;&nbsp; 1304691 |
|  |  | &nbsp;&nbsp; 1910280 |
| **Retail — 7.8%** | **Retail — 7.8%** | **Retail — 7.8%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 484 | &nbsp;&nbsp; 1817701 |
| &nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. | 36515 | &nbsp;&nbsp; 831081 |
| &nbsp;&nbsp;&nbsp; Best Buy Co., Inc. | 18575 | &nbsp;&nbsp; 1151093 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc.† | 12370 | &nbsp;&nbsp; 1222032 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | 3226 | &nbsp;&nbsp; 2211713 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 4110 | &nbsp;&nbsp; 4154347 |
| &nbsp;&nbsp;&nbsp; Dillard's, Inc., Class A# | 3312 | &nbsp;&nbsp; 1996441 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | 18263 | &nbsp;&nbsp; 2853411 |
| &nbsp;&nbsp;&nbsp; Dollar Tree, Inc.† | 21006 | &nbsp;&nbsp; 2656839 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 1871 | &nbsp;&nbsp; 753096 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. | 5230 | &nbsp;&nbsp; 1363775 |
| &nbsp;&nbsp;&nbsp; Five Below, Inc.† | 5000 | &nbsp;&nbsp; 1117650 |
| &nbsp;&nbsp;&nbsp; Gap, Inc. | 98197 | &nbsp;&nbsp; 2753444 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | 1158 | &nbsp;&nbsp; 138103 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 7254 | &nbsp;&nbsp; 2761743 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | 5962 | &nbsp;&nbsp; 1577366 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.† | 4510 | &nbsp;&nbsp; 835117 |
| &nbsp;&nbsp;&nbsp; Macy's, Inc. | 139797 | &nbsp;&nbsp; 2765185 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 2079 | &nbsp;&nbsp; 709064 |
| &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc., Class A | 17235 | &nbsp;&nbsp; 1617333 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 1664 | &nbsp;&nbsp; 650191 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 19186 | &nbsp;&nbsp; 1801182 |
| &nbsp;&nbsp;&nbsp; Penske Automotive Group, Inc. | 2752 | &nbsp;&nbsp; 433495 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 2577 | &nbsp;&nbsp; 529934 |
| &nbsp;&nbsp;&nbsp; Target Corp. | 1490 | &nbsp;&nbsp; 169547 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 18099 | &nbsp;&nbsp; 2925884 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 3092 | &nbsp;&nbsp; 2117371 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 52160 | &nbsp;&nbsp; 6673872 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 5022 | &nbsp;&nbsp; 1032774 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 7102 | &nbsp;&nbsp; 1194272 |
|  |  | &nbsp;&nbsp; 52815056 |
| **Semiconductors — 11.5%** | **Semiconductors — 11.5%** | **Semiconductors — 11.5%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 744 | &nbsp;&nbsp; 148956 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 7104 | &nbsp;&nbsp; 2644819 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 45411 | &nbsp;&nbsp; 14511085 |
| &nbsp;&nbsp;&nbsp; Cirrus Logic, Inc.† | 15859 | &nbsp;&nbsp; 2238022 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 1373 | &nbsp;&nbsp; 2093207 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Semiconductors (continued)** | **Semiconductors (continued)** | **Semiconductors (continued)** |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 13668 | &nbsp;&nbsp; $3196809 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 1504 | &nbsp;&nbsp; 620204 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 273883 | &nbsp;&nbsp; 48529329 |
| &nbsp;&nbsp;&nbsp; Qorvo, Inc.† | 13876 | &nbsp;&nbsp; 1150320 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 15341 | &nbsp;&nbsp; 2183945 |
| &nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. | 4401 | &nbsp;&nbsp; 262212 |
| &nbsp;&nbsp;&nbsp; Teradyne, Inc. | 1436 | &nbsp;&nbsp; 459563 |
|  |  | &nbsp;&nbsp; 78038471 |
| **Software — 7.8%** | **Software — 7.8%** | **Software — 7.8%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 4592 | &nbsp;&nbsp; 1204987 |
| &nbsp;&nbsp;&nbsp; Appfolio, Inc., Class A† | 1409 | &nbsp;&nbsp; 250464 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 2042 | &nbsp;&nbsp; 502066 |
| &nbsp;&nbsp;&nbsp; Concentrix Corp.# | 18874 | &nbsp;&nbsp; 619067 |
| &nbsp;&nbsp;&nbsp; DocuSign, Inc.† | 17010 | &nbsp;&nbsp; 766641 |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc., Class A† | 90779 | &nbsp;&nbsp; 2268567 |
| &nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 10761 | &nbsp;&nbsp; 2158334 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 1274 | &nbsp;&nbsp; 521104 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 82020 | &nbsp;&nbsp; 32212535 |
| &nbsp;&nbsp;&nbsp; Nutanix, Inc., Class A† | 21513 | &nbsp;&nbsp; 823518 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 626 | &nbsp;&nbsp; 91020 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 24351 | &nbsp;&nbsp; 3340714 |
| &nbsp;&nbsp;&nbsp; Pegasystems, Inc. | 26825 | &nbsp;&nbsp; 1173057 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc., Class A† | 49147 | &nbsp;&nbsp; 1791408 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp., Class A† | 9456 | &nbsp;&nbsp; 649249 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 4196 | &nbsp;&nbsp; 817339 |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.† | 1859 | &nbsp;&nbsp; 393141 |
| &nbsp;&nbsp;&nbsp; Teradata Corp.† | 53808 | &nbsp;&nbsp; 1694414 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A† | 4580 | &nbsp;&nbsp; 553997 |
| &nbsp;&nbsp;&nbsp; Unity Software, Inc.† | 9038 | &nbsp;&nbsp; 164763 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 519 | &nbsp;&nbsp; 69421 |
| &nbsp;&nbsp;&nbsp; Zoom Communications, Inc.† | 9772 | &nbsp;&nbsp; 722542 |
|  |  | &nbsp;&nbsp; 52788348 |
| **Telecommunications — 2.5%** | **Telecommunications — 2.5%** | **Telecommunications — 2.5%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 2005 | &nbsp;&nbsp; 267668 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 75031 | &nbsp;&nbsp; 2101618 |
| &nbsp;&nbsp;&nbsp; Ciena Corp.† | 7415 | &nbsp;&nbsp; 2585610 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 48273 | &nbsp;&nbsp; 3835773 |
| &nbsp;&nbsp;&nbsp; GCI Liberty, Inc., Class A† | 1945 | &nbsp;&nbsp; 77294 |
| &nbsp;&nbsp;&nbsp; GCI Liberty, Inc., Class C† | 1966 | &nbsp;&nbsp; 77362 |
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA | 40794 | &nbsp;&nbsp; 2973475 |
| &nbsp;&nbsp;&nbsp; T-Mobile US, Inc. | 5142 | &nbsp;&nbsp; 1116277 |
| &nbsp;&nbsp;&nbsp; Ubiquiti, Inc. | 2479 | &nbsp;&nbsp; 1901368 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 46059 | &nbsp;&nbsp; 2309398 |
|  |  | &nbsp;&nbsp; 17245843 |
| **Toys/Games/Hobbies — 0.3%** | **Toys/Games/Hobbies — 0.3%** | **Toys/Games/Hobbies — 0.3%** |
| &nbsp;&nbsp;&nbsp; Hasbro, Inc. | 6100 | &nbsp;&nbsp; 607499 |
| &nbsp;&nbsp;&nbsp; Mattel, Inc.† | 82361 | &nbsp;&nbsp; 1396019 |
|  |  | &nbsp;&nbsp; 2003518 |
| **Transportation — 0.5%** | **Transportation — 0.5%** | **Transportation — 0.5%** |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 14056 | &nbsp;&nbsp; 2603874 |
| &nbsp;&nbsp;&nbsp; Expeditors International of Washington, Inc. | 2838 | &nbsp;&nbsp; 411595 |
| &nbsp;&nbsp;&nbsp; FedEx Corp. | 711 | &nbsp;&nbsp; 275157 |
|  |  | &nbsp;&nbsp; 3290626 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $416,158,137)<br>|  | &nbsp;&nbsp; 674587313 |

---

------

**VALIC Company I Systematic Core Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **UNAFFILIATED INVESTMENT COMPANIES — 1.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.0%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vanguard Russell 1000 ETF # <br>(cost $7,252,510)<br>| 22993 | &nbsp;&nbsp; $7161860 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $423,410,647)<br>|  | &nbsp;&nbsp; 681749173 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2) <br>(cost $1,623,270)<br>| 1623270 | &nbsp;&nbsp; 1623270 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $425,033,917)<br>| 100.4<br> %<br>| &nbsp;&nbsp; 683372443 |
| Other assets less liabilities | (0.4)<br>| &nbsp;&nbsp; (2404886)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $680967557 |

---

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

† Non-income producing security <br> # The security or a portion thereof is out on loan.

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(2) At February 28, 2026, the Fund had loaned securities with a total value of $7,849,133. This was secured by collateral of $1,623,270, which was received in cash and subsequently invested in short-term investments currently valued at $1,623,270 as reported in the Portfolio of Investments. Additional collateral of $6,451,740 was
 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components
 of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $3012 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 15166 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 124273 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/15/2026 to 11/15/2055 | 6309289 |

---

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

ETF—Exchange Traded Fund<br>

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $674587313 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $674587313 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 7161860 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7161860 |
| Short-Term Investments | &nbsp;&nbsp; 1623270 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1623270 |
| **Total Investments at Value** | &nbsp;&nbsp; $683372443 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $683372443 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Systematic Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 97.4%** | **COMMON STOCKS — 97.4%** | **COMMON STOCKS — 97.4%** |
| **Aerospace/Defense — 0.6%** | **Aerospace/Defense — 0.6%** | **Aerospace/Defense — 0.6%** |
| &nbsp;&nbsp;&nbsp; General Electric Co. | 12810 | &nbsp;&nbsp; $4384351 |
| &nbsp;&nbsp;&nbsp; HEICO Corp., Class A | 3273 | &nbsp;&nbsp; 785880 |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 1869 | &nbsp;&nbsp; 490668 |
| &nbsp;&nbsp;&nbsp; Loar Holdings, Inc.† | 891 | &nbsp;&nbsp; 63074 |
|  |  | &nbsp;&nbsp; 5723973 |
| **Apparel — 1.0%** | **Apparel — 1.0%** | **Apparel — 1.0%** |
| &nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.† | 30934 | &nbsp;&nbsp; 3627630 |
| &nbsp;&nbsp;&nbsp; Ralph Lauren Corp. | 7836 | &nbsp;&nbsp; 2841334 |
| &nbsp;&nbsp;&nbsp; Tapestry, Inc. | 25508 | &nbsp;&nbsp; 3965729 |
|  |  | &nbsp;&nbsp; 10434693 |
| **Auto Manufacturers — 2.6%** | **Auto Manufacturers — 2.6%** | **Auto Manufacturers — 2.6%** |
| &nbsp;&nbsp;&nbsp; Tesla, Inc.† | 64686 | &nbsp;&nbsp; 26036762 |
| **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 7947 | &nbsp;&nbsp; 395999 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 9418 | &nbsp;&nbsp; 1121684 |
| &nbsp;&nbsp;&nbsp; Citigroup, Inc. | 5635 | &nbsp;&nbsp; 620920 |
| &nbsp;&nbsp;&nbsp; NU Holdings, Ltd., Class A† | 97256 | &nbsp;&nbsp; 1456895 |
| &nbsp;&nbsp;&nbsp; Popular, Inc. | 4778 | &nbsp;&nbsp; 646750 |
|  |  | &nbsp;&nbsp; 4242248 |
| **Beverages — 1.1%** | **Beverages — 1.1%** | **Beverages — 1.1%** |
| &nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.† | 33278 | &nbsp;&nbsp; 1784034 |
| &nbsp;&nbsp;&nbsp; Coca-Cola Consolidated, Inc. | 12027 | &nbsp;&nbsp; 2434265 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 60973 | &nbsp;&nbsp; 5200997 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 6191 | &nbsp;&nbsp; 1050860 |
|  |  | &nbsp;&nbsp; 10470156 |
| **Biotechnology — 2.0%** | **Biotechnology — 2.0%** | **Biotechnology — 2.0%** |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.† | 3379 | &nbsp;&nbsp; 1124936 |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 556 | &nbsp;&nbsp; 215817 |
| &nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc.† | 32500 | &nbsp;&nbsp; 681200 |
| &nbsp;&nbsp;&nbsp; Exelixis, Inc.† | 116270 | &nbsp;&nbsp; 5122856 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 15425 | &nbsp;&nbsp; 2297554 |
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.† | 50390 | &nbsp;&nbsp; 3503617 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 37156 | &nbsp;&nbsp; 3762788 |
| &nbsp;&nbsp;&nbsp; Summit Therapeutics, Inc.#† | 24402 | &nbsp;&nbsp; 404829 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 6590 | &nbsp;&nbsp; 3274110 |
|  |  | &nbsp;&nbsp; 20387707 |
| **Building Materials — 0.4%** | **Building Materials — 0.4%** | **Building Materials — 0.4%** |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, Inc. | 7159 | &nbsp;&nbsp; 1242086 |
| &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. | 250 | &nbsp;&nbsp; 98693 |
| &nbsp;&nbsp;&nbsp; Lennox International, Inc. | 334 | &nbsp;&nbsp; 190360 |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 6281 | &nbsp;&nbsp; 2903832 |
|  |  | &nbsp;&nbsp; 4434971 |
| **Chemicals — 0.0%** | **Chemicals — 0.0%** | **Chemicals — 0.0%** |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 354 | &nbsp;&nbsp; 128357 |
| **Commercial Services — 1.7%** | **Commercial Services — 1.7%** | **Commercial Services — 1.7%** |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 6675 | &nbsp;&nbsp; 1430853 |
| &nbsp;&nbsp;&nbsp; Booz Allen Hamilton Holding Corp. | 3147 | &nbsp;&nbsp; 248078 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 4815 | &nbsp;&nbsp; 968441 |
| &nbsp;&nbsp;&nbsp; Corpay, Inc.† | 1577 | &nbsp;&nbsp; 512683 |
| &nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.† | 25648 | &nbsp;&nbsp; 4079827 |
| &nbsp;&nbsp;&nbsp; H&R Block, Inc. | 26349 | &nbsp;&nbsp; 806806 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 11484 | &nbsp;&nbsp; 5484643 |
| &nbsp;&nbsp;&nbsp; Morningstar, Inc. | 7840 | &nbsp;&nbsp; 1435818 |
| &nbsp;&nbsp;&nbsp; Rollins, Inc. | 21556 | &nbsp;&nbsp; 1312545 |
| &nbsp;&nbsp;&nbsp; WEX, Inc.† | 1709 | &nbsp;&nbsp; 254966 |
|  |  | &nbsp;&nbsp; 16534660 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Computers — 12.1%** | **Computers — 12.1%** | **Computers — 12.1%** |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 429336 | &nbsp;&nbsp; $113421984 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | 19900 | &nbsp;&nbsp; 2946792 |
| &nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.† | 21442 | &nbsp;&nbsp; 670062 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 41017 | &nbsp;&nbsp; 3241574 |
| &nbsp;&nbsp;&nbsp; Gartner, Inc.† | 1018 | &nbsp;&nbsp; 160030 |
| &nbsp;&nbsp;&nbsp; Kyndryl Holdings, Inc.† | 8146 | &nbsp;&nbsp; 100440 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 2520 | &nbsp;&nbsp; 249556 |
| &nbsp;&nbsp;&nbsp; Pure Storage, Inc., Class A† | 7892 | &nbsp;&nbsp; 506824 |
| &nbsp;&nbsp;&nbsp; Rubrik, Inc., Class A† | 3752 | &nbsp;&nbsp; 194954 |
|  |  | &nbsp;&nbsp; 121492216 |
| **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** | **Cosmetics/Personal Care — 0.1%** |
| &nbsp;&nbsp;&nbsp; Colgate-Palmolive Co. | 5413 | &nbsp;&nbsp; 536645 |
| **Distribution/Wholesale — 0.9%** | **Distribution/Wholesale — 0.9%** | **Distribution/Wholesale — 0.9%** |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A† | 88479 | &nbsp;&nbsp; 4792023 |
| &nbsp;&nbsp;&nbsp; Fastenal Co. | 30407 | &nbsp;&nbsp; 1399938 |
| &nbsp;&nbsp;&nbsp; SiteOne Landscape Supply, Inc.† | 9883 | &nbsp;&nbsp; 1412182 |
| &nbsp;&nbsp;&nbsp; WW Grainger, Inc. | 1561 | &nbsp;&nbsp; 1786923 |
|  |  | &nbsp;&nbsp; 9391066 |
| **Diversified Financial Services — 5.5%** | **Diversified Financial Services — 5.5%** | **Diversified Financial Services — 5.5%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | 6291 | &nbsp;&nbsp; 1943290 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 4115 | &nbsp;&nbsp; 1934544 |
| &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc. | 575 | &nbsp;&nbsp; 60145 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 3921 | &nbsp;&nbsp; 373279 |
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp.#† | 813 | &nbsp;&nbsp; 384695 |
| &nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 26129 | &nbsp;&nbsp; 4279146 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | 32700 | &nbsp;&nbsp; 2327913 |
| &nbsp;&nbsp;&nbsp; Lazard, Inc. | 16720 | &nbsp;&nbsp; 846032 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings, Inc. | 3237 | &nbsp;&nbsp; 972330 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 33411 | &nbsp;&nbsp; 17280503 |
| &nbsp;&nbsp;&nbsp; SLM Corp. | 42661 | &nbsp;&nbsp; 799467 |
| &nbsp;&nbsp;&nbsp; SoFi Technologies, Inc.† | 22976 | &nbsp;&nbsp; 408054 |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc., Class A | 4324 | &nbsp;&nbsp; 532955 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 70976 | &nbsp;&nbsp; 22722257 |
| &nbsp;&nbsp;&nbsp; XP, Inc., Class A | 5853 | &nbsp;&nbsp; 126015 |
|  |  | &nbsp;&nbsp; 54990625 |
| **Electric — 0.1%** | **Electric — 0.1%** | **Electric — 0.1%** |
| &nbsp;&nbsp;&nbsp; NRG Energy, Inc. | 4974 | &nbsp;&nbsp; 890147 |
| **Electronics — 1.1%** | **Electronics — 1.1%** | **Electronics — 1.1%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 69555 | &nbsp;&nbsp; 10159203 |
| &nbsp;&nbsp;&nbsp; Jabil, Inc. | 1989 | &nbsp;&nbsp; 527065 |
|  |  | &nbsp;&nbsp; 10686268 |
| **Engineering & Construction — 1.2%** | **Engineering & Construction — 1.2%** | **Engineering & Construction — 1.2%** |
| &nbsp;&nbsp;&nbsp; Comfort Systems USA, Inc. | 5914 | &nbsp;&nbsp; 8453294 |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 4807 | &nbsp;&nbsp; 3483249 |
|  |  | &nbsp;&nbsp; 11936543 |
| **Entertainment — 0.4%** | **Entertainment — 0.4%** | **Entertainment — 0.4%** |
| &nbsp;&nbsp;&nbsp; TKO Group Holdings, Inc. | 16280 | &nbsp;&nbsp; 3644604 |
| **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |
| &nbsp;&nbsp;&nbsp; Veralto Corp. | 3494 | &nbsp;&nbsp; 340420 |
| **Food — 0.6%** | **Food — 0.6%** | **Food — 0.6%** |
| &nbsp;&nbsp;&nbsp; Performance Food Group Co.† | 23454 | &nbsp;&nbsp; 2276446 |
| &nbsp;&nbsp;&nbsp; Sprouts Farmers Market, Inc.† | 29076 | &nbsp;&nbsp; 2147844 |
| &nbsp;&nbsp;&nbsp; Sysco Corp. | 17964 | &nbsp;&nbsp; 1637598 |
|  |  | &nbsp;&nbsp; 6061888 |
| **Healthcare-Products — 0.8%** | **Healthcare-Products — 0.8%** | **Healthcare-Products — 0.8%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 28190 | &nbsp;&nbsp; 2166402 |

---

------

**VALIC Company I Systematic Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Products (continued)** | **Healthcare-Products (continued)** | **Healthcare-Products (continued)** |
| &nbsp;&nbsp;&nbsp; Exact Sciences Corp.† | 1972 | &nbsp;&nbsp; $203865 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 899 | &nbsp;&nbsp; 590400 |
| &nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.† | 13261 | &nbsp;&nbsp; 855467 |
| &nbsp;&nbsp;&nbsp; Insulet Corp.† | 300 | &nbsp;&nbsp; 73983 |
| &nbsp;&nbsp;&nbsp; Masimo Corp.† | 2288 | &nbsp;&nbsp; 401201 |
| &nbsp;&nbsp;&nbsp; Natera, Inc.† | 2333 | &nbsp;&nbsp; 485357 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 12119 | &nbsp;&nbsp; 3105615 |
| &nbsp;&nbsp;&nbsp; Tempus AI, Inc.#† | 1378 | &nbsp;&nbsp; 73379 |
|  |  | &nbsp;&nbsp; 7955669 |
| **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; Chemed Corp. | 2726 | &nbsp;&nbsp; 1117687 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 263 | &nbsp;&nbsp; 139311 |
| &nbsp;&nbsp;&nbsp; Medpace Holdings, Inc.† | 8151 | &nbsp;&nbsp; 3682296 |
|  |  | &nbsp;&nbsp; 4939294 |
| **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** | **Home Furnishings — 0.1%** |
| &nbsp;&nbsp;&nbsp; SharkNinja, Inc.† | 7795 | &nbsp;&nbsp; 957772 |
| &nbsp;&nbsp;&nbsp; Somnigroup International, Inc. | 1834 | &nbsp;&nbsp; 164161 |
|  |  | &nbsp;&nbsp; 1121933 |
| **Insurance — 0.5%** | **Insurance — 0.5%** | **Insurance — 0.5%** |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 2717 | &nbsp;&nbsp; 911472 |
| &nbsp;&nbsp;&nbsp; Equitable Holdings, Inc. | 39055 | &nbsp;&nbsp; 1570792 |
| &nbsp;&nbsp;&nbsp; Markel Group, Inc.† | 68 | &nbsp;&nbsp; 140928 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 3915 | &nbsp;&nbsp; 731087 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 7635 | &nbsp;&nbsp; 1631294 |
|  |  | &nbsp;&nbsp; 4985573 |
| **Internet — 20.4%** | **Internet — 20.4%** | **Internet — 20.4%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 133521 | &nbsp;&nbsp; 41626507 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 103159 | &nbsp;&nbsp; 32126807 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 218774 | &nbsp;&nbsp; 45942540 |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 15262 | &nbsp;&nbsp; 6635460 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 2254 | &nbsp;&nbsp; 9555495 |
| &nbsp;&nbsp;&nbsp; Chewy, Inc., Class A† | 19178 | &nbsp;&nbsp; 525861 |
| &nbsp;&nbsp;&nbsp; Coupang, Inc.† | 36392 | &nbsp;&nbsp; 694359 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 2492 | &nbsp;&nbsp; 439763 |
| &nbsp;&nbsp;&nbsp; Etsy, Inc.† | 39412 | &nbsp;&nbsp; 2162931 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 11715 | &nbsp;&nbsp; 2526808 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 69871 | &nbsp;&nbsp; 1576988 |
| &nbsp;&nbsp;&nbsp; Lyft, Inc., Class A† | 77420 | &nbsp;&nbsp; 1071493 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 60243 | &nbsp;&nbsp; 39048308 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 131953 | &nbsp;&nbsp; 12699157 |
| &nbsp;&nbsp;&nbsp; Pinterest, Inc., Class A† | 44218 | &nbsp;&nbsp; 757454 |
| &nbsp;&nbsp;&nbsp; Reddit, Inc., Class A† | 5850 | &nbsp;&nbsp; 852989 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 9188 | &nbsp;&nbsp; 696910 |
| &nbsp;&nbsp;&nbsp; Roku, Inc.† | 14244 | &nbsp;&nbsp; 1401752 |
| &nbsp;&nbsp;&nbsp; Spotify Technology SA† | 1362 | &nbsp;&nbsp; 701348 |
| &nbsp;&nbsp;&nbsp; Uber Technologies, Inc.† | 34961 | &nbsp;&nbsp; 2636759 |
| &nbsp;&nbsp;&nbsp; Wayfair, Inc., Class A† | 20298 | &nbsp;&nbsp; 1549346 |
|  |  | &nbsp;&nbsp; 205229035 |
| **Lodging — 0.0%** | **Lodging — 0.0%** | **Lodging — 0.0%** |
| &nbsp;&nbsp;&nbsp; Travel & Leisure Co. | 4197 | &nbsp;&nbsp; 309319 |
| **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 4912 | &nbsp;&nbsp; 4291123 |
| &nbsp;&nbsp;&nbsp; Vertiv Holdings Co., Class A | 11936 | &nbsp;&nbsp; 3042367 |
|  |  | &nbsp;&nbsp; 7333490 |
| **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** | **Machinery-Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. | 281 | &nbsp;&nbsp; 114493 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| &nbsp;&nbsp;&nbsp; Nexstar Media Group, Inc. | 1284 | &nbsp;&nbsp; $322310 |
| **Mining — 0.2%** | **Mining — 0.2%** | **Mining — 0.2%** |
| &nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC† | 17493 | &nbsp;&nbsp; 2235081 |
| **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** | **Miscellaneous Manufacturing — 0.1%** |
| &nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 2230 | &nbsp;&nbsp; 648105 |
| **Pharmaceuticals — 4.3%** | **Pharmaceuticals — 4.3%** | **Pharmaceuticals — 4.3%** |
| &nbsp;&nbsp;&nbsp; AbbVie, Inc. | 38941 | &nbsp;&nbsp; 9037427 |
| &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. | 25959 | &nbsp;&nbsp; 1619063 |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | 8298 | &nbsp;&nbsp; 3088018 |
| &nbsp;&nbsp;&nbsp; Corcept Therapeutics, Inc.† | 5791 | &nbsp;&nbsp; 206738 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co. | 22326 | &nbsp;&nbsp; 23486729 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 6033 | &nbsp;&nbsp; 5956803 |
|  |  | &nbsp;&nbsp; 43394778 |
| **Pipelines — 0.0%** | **Pipelines — 0.0%** | **Pipelines — 0.0%** |
| &nbsp;&nbsp;&nbsp; Cheniere Energy, Inc. | 1007 | &nbsp;&nbsp; 237380 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.† | 466 | &nbsp;&nbsp; 147046 |
| **Retail — 3.9%** | **Retail — 3.9%** | **Retail — 3.9%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 405 | &nbsp;&nbsp; 1521010 |
| &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, Inc.† | 13156 | &nbsp;&nbsp; 1299681 |
| &nbsp;&nbsp;&nbsp; Carvana Co.† | 1236 | &nbsp;&nbsp; 413022 |
| &nbsp;&nbsp;&nbsp; Casey's General Stores, Inc. | 3699 | &nbsp;&nbsp; 2535997 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 11384 | &nbsp;&nbsp; 11506833 |
| &nbsp;&nbsp;&nbsp; Domino's Pizza, Inc. | 2154 | &nbsp;&nbsp; 867007 |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. | 5851 | &nbsp;&nbsp; 1525707 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 16498 | &nbsp;&nbsp; 6281119 |
| &nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.† | 7767 | &nbsp;&nbsp; 1438215 |
| &nbsp;&nbsp;&nbsp; Murphy USA, Inc. | 1730 | &nbsp;&nbsp; 675980 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 20868 | &nbsp;&nbsp; 1959088 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 1425 | &nbsp;&nbsp; 293037 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 15302 | &nbsp;&nbsp; 2473721 |
| &nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.† | 3968 | &nbsp;&nbsp; 2717247 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 12541 | &nbsp;&nbsp; 1604621 |
| &nbsp;&nbsp;&nbsp; Williams-Sonoma, Inc. | 9285 | &nbsp;&nbsp; 1909460 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 2993 | &nbsp;&nbsp; 503303 |
|  |  | &nbsp;&nbsp; 39525048 |
| **Semiconductors — 19.6%** | **Semiconductors — 19.6%** | **Semiconductors — 19.6%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 7515 | &nbsp;&nbsp; 1504578 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 2876 | &nbsp;&nbsp; 1070735 |
| &nbsp;&nbsp;&nbsp; Astera Labs, Inc.† | 1702 | &nbsp;&nbsp; 202249 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 145984 | &nbsp;&nbsp; 46649187 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 3209 | &nbsp;&nbsp; 4892281 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 45095 | &nbsp;&nbsp; 10547269 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 733594 | &nbsp;&nbsp; 129985521 |
| &nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | 11758 | &nbsp;&nbsp; 1673869 |
|  |  | &nbsp;&nbsp; 196525689 |
| **Software — 13.9%** | **Software — 13.9%** | **Software — 13.9%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 23768 | &nbsp;&nbsp; 6236961 |
| &nbsp;&nbsp;&nbsp; Appfolio, Inc., Class A† | 3704 | &nbsp;&nbsp; 658423 |
| &nbsp;&nbsp;&nbsp; Atlassian Corp., Class A† | 752 | &nbsp;&nbsp; 56498 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 3585 | &nbsp;&nbsp; 881444 |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc. | 827 | &nbsp;&nbsp; 153714 |
| &nbsp;&nbsp;&nbsp; Bullish#† | 18494 | &nbsp;&nbsp; 580527 |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.† | 1865 | &nbsp;&nbsp; 562111 |
| &nbsp;&nbsp;&nbsp; Confluent, Inc., Class A† | 3313 | &nbsp;&nbsp; 101610 |
| &nbsp;&nbsp;&nbsp; DocuSign, Inc.† | 25412 | &nbsp;&nbsp; 1145319 |
| &nbsp;&nbsp;&nbsp; DoubleVerify Holdings, Inc.† | 146963 | &nbsp;&nbsp; 1548990 |
| &nbsp;&nbsp;&nbsp; Doximity, Inc., Class A† | 27390 | &nbsp;&nbsp; 671877 |

---

------

**VALIC Company I Systematic Growth Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Dropbox, Inc., Class A† | 101642 | &nbsp;&nbsp; $2540034 |
| &nbsp;&nbsp;&nbsp; Dynatrace, Inc.† | 24542 | &nbsp;&nbsp; 881549 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.† | 447 | &nbsp;&nbsp; 629984 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 9008 | &nbsp;&nbsp; 3684542 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp. | 231769 | &nbsp;&nbsp; 91024957 |
| &nbsp;&nbsp;&nbsp; Nutanix, Inc., Class A† | 20071 | &nbsp;&nbsp; 768318 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 24392 | &nbsp;&nbsp; 3546597 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 67337 | &nbsp;&nbsp; 9237963 |
| &nbsp;&nbsp;&nbsp; Paychex, Inc. | 47603 | &nbsp;&nbsp; 4458021 |
| &nbsp;&nbsp;&nbsp; Paycom Software, Inc.# | 10462 | &nbsp;&nbsp; 1316433 |
| &nbsp;&nbsp;&nbsp; Pegasystems, Inc. | 42339 | &nbsp;&nbsp; 1851484 |
| &nbsp;&nbsp;&nbsp; RingCentral, Inc., Class A#† | 48731 | &nbsp;&nbsp; 1776245 |
| &nbsp;&nbsp;&nbsp; ROBLOX Corp., Class A† | 12788 | &nbsp;&nbsp; 878024 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 4486 | &nbsp;&nbsp; 873828 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 3480 | &nbsp;&nbsp; 375875 |
| &nbsp;&nbsp;&nbsp; Strategy, Inc.#† | 476 | &nbsp;&nbsp; 61642 |
| &nbsp;&nbsp;&nbsp; Teradata Corp.† | 49170 | &nbsp;&nbsp; 1548363 |
| &nbsp;&nbsp;&nbsp; Twilio, Inc., Class A† | 7730 | &nbsp;&nbsp; 935021 |
| &nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.† | 348 | &nbsp;&nbsp; 123432 |
| &nbsp;&nbsp;&nbsp; Unity Software, Inc.† | 24367 | &nbsp;&nbsp; 444210 |
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc., Class A† | 2031 | &nbsp;&nbsp; 369662 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 651 | &nbsp;&nbsp; 87078 |
|  |  | &nbsp;&nbsp; 140010736 |
| **Telecommunications — 0.6%** | **Telecommunications — 0.6%** | **Telecommunications — 0.6%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 27759 | &nbsp;&nbsp; 3705827 |
| &nbsp;&nbsp;&nbsp; Ubiquiti, Inc. | 3277 | &nbsp;&nbsp; 2513426 |
|  |  | &nbsp;&nbsp; 6219253 |
| &nbsp;&nbsp;&nbsp; **Total Common Stocks** <br>(cost $630,221,349)<br>|  | &nbsp;&nbsp; 979618181 |
| **UNAFFILIATED INVESTMENT COMPANIES — 1.9%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.9%** | **UNAFFILIATED INVESTMENT COMPANIES — 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; iShares Russell 1000 Growth ETF # <br>(cost $19,823,898)<br>| 41928 | &nbsp;&nbsp; 18875566 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $650,045,247)<br>|  | &nbsp;&nbsp; 998493747 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **SHORT-TERM INVESTMENTS — 1.2%** | **SHORT-TERM INVESTMENTS — 1.2%** | **SHORT-TERM INVESTMENTS — 1.2%** |
| **Unaffiliated Investment Companies — 1.2%** | **Unaffiliated Investment Companies — 1.2%** | **Unaffiliated Investment Companies — 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money <br> Market Fund, Premier Class <br>3.63%(1)<br>| 184 | &nbsp;&nbsp; $184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2)<br>| 11742715 | &nbsp;&nbsp; 11742715 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(cost $11,742,899)<br>|  | &nbsp;&nbsp; 11742899 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $661,788,146)<br>| 100.5<br> %<br>| &nbsp;&nbsp; 1010236646 |
| Other assets less liabilities | (0.5)<br>| &nbsp;&nbsp; (5003217)<br>|
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $1005233429 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | The security or a portion thereof is out on loan. |
| (1) | The rate shown is the 7-day yield as of February 28, 2026. |
| (2) | &nbsp;&nbsp; At February 28, 2026, the Fund had loaned securities with a total value of $14,575,568. <br> This was secured by collateral of $11,742,715, which was received in cash and <br> subsequently invested in short-term investments currently valued at $11,742,715 as <br> reported in the Portfolio of Investments. Additional collateral of $3,298,829 was received <br> in the form of fixed income pooled securities, which the Fund cannot sell or repledge <br> and accordingly, are not reflected in the Fund's assets and liabilities. The components of <br> the fixed income pooled securities referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $2400 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 12084 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 01/21/2027 | 5613 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 03/31/2026 to 08/15/2055 | 3278732 |

---

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

ETF—Exchange Traded Fund<br>

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $979618181 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $979618181 |
| Unaffiliated Investment Companies | &nbsp;&nbsp; 18875566 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 18875566 |
| Short-Term Investments | &nbsp;&nbsp; 11742899 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 11742899 |
| **Total Investments at Value** | &nbsp;&nbsp; $1010236646 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1010236646 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I Systematic Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 98.3%** | **COMMON STOCKS — 98.3%** | **COMMON STOCKS — 98.3%** |
| **Advertising — 1.1%** | **Advertising — 1.1%** | **Advertising — 1.1%** |
| &nbsp;&nbsp;&nbsp; Omnicom Group, Inc. | 72061 | &nbsp;&nbsp; $6146083 |
| **Aerospace/Defense — 2.5%** | **Aerospace/Defense — 2.5%** | **Aerospace/Defense — 2.5%** |
| &nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. | 2916 | &nbsp;&nbsp; 2042162 |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp. | 19041 | &nbsp;&nbsp; 6798589 |
| &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 6949 | &nbsp;&nbsp; 5033717 |
|  |  | &nbsp;&nbsp; 13874468 |
| **Agriculture — 2.4%** | **Agriculture — 2.4%** | **Agriculture — 2.4%** |
| &nbsp;&nbsp;&nbsp; Altria Group, Inc. | 29046 | &nbsp;&nbsp; 2005336 |
| &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 59566 | &nbsp;&nbsp; 11128716 |
|  |  | &nbsp;&nbsp; 13134052 |
| **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** | **Auto Manufacturers — 0.4%** |
| &nbsp;&nbsp;&nbsp; Cummins, Inc. | 2295 | &nbsp;&nbsp; 1339981 |
| &nbsp;&nbsp;&nbsp; General Motors Co. | 9618 | &nbsp;&nbsp; 757033 |
|  |  | &nbsp;&nbsp; 2097014 |
| **Auto Parts & Equipment — 0.7%** | **Auto Parts & Equipment — 0.7%** | **Auto Parts & Equipment — 0.7%** |
| &nbsp;&nbsp;&nbsp; Aptiv PLC† | 14466 | &nbsp;&nbsp; 1063830 |
| &nbsp;&nbsp;&nbsp; BorgWarner, Inc. | 51116 | &nbsp;&nbsp; 2942748 |
|  |  | &nbsp;&nbsp; 4006578 |
| **Banks — 7.1%** | **Banks — 7.1%** | **Banks — 7.1%** |
| &nbsp;&nbsp;&nbsp; Bank of America Corp. | 76219 | &nbsp;&nbsp; 3797993 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 54824 | &nbsp;&nbsp; 6529538 |
| &nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc. | 5155 | &nbsp;&nbsp; 712524 |
| &nbsp;&nbsp;&nbsp; East West Bancorp, Inc. | 21914 | &nbsp;&nbsp; 2398487 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co. | 61903 | &nbsp;&nbsp; 18589471 |
| &nbsp;&nbsp;&nbsp; Northern Trust Corp. | 17546 | &nbsp;&nbsp; 2510657 |
| &nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc. | 6696 | &nbsp;&nbsp; 607729 |
| &nbsp;&nbsp;&nbsp; State Street Corp. | 29303 | &nbsp;&nbsp; 3768952 |
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co. | 7790 | &nbsp;&nbsp; 634496 |
|  |  | &nbsp;&nbsp; 39549847 |
| **Beverages — 1.9%** | **Beverages — 1.9%** | **Beverages — 1.9%** |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 162724 | &nbsp;&nbsp; 4927283 |
| &nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 31587 | &nbsp;&nbsp; 5361577 |
|  |  | &nbsp;&nbsp; 10288860 |
| **Biotechnology — 4.6%** | **Biotechnology — 4.6%** | **Biotechnology — 4.6%** |
| &nbsp;&nbsp;&nbsp; Amgen, Inc. | 18479 | &nbsp;&nbsp; 7172809 |
| &nbsp;&nbsp;&nbsp; Exelixis, Inc.† | 51600 | &nbsp;&nbsp; 2273496 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 57276 | &nbsp;&nbsp; 8531260 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 10871 | &nbsp;&nbsp; 1100906 |
| &nbsp;&nbsp;&nbsp; Moderna, Inc.† | 119812 | &nbsp;&nbsp; 6418329 |
|  |  | &nbsp;&nbsp; 25496800 |
| **Building Materials — 0.6%** | **Building Materials — 0.6%** | **Building Materials — 0.6%** |
| &nbsp;&nbsp;&nbsp; Johnson Controls International PLC | 22417 | &nbsp;&nbsp; 3234773 |
| **Chemicals — 1.6%** | **Chemicals — 1.6%** | **Chemicals — 1.6%** |
| &nbsp;&nbsp;&nbsp; Mosaic Co. | 40068 | &nbsp;&nbsp; 1115493 |
| &nbsp;&nbsp;&nbsp; PPG Industries, Inc. | 44076 | &nbsp;&nbsp; 5433249 |
| &nbsp;&nbsp;&nbsp; RPM International, Inc. | 21908 | &nbsp;&nbsp; 2500141 |
|  |  | &nbsp;&nbsp; 9048883 |
| **Commercial Services — 1.2%** | **Commercial Services — 1.2%** | **Commercial Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; S&P Global, Inc. | 15039 | &nbsp;&nbsp; 6645433 |
| **Computers — 6.2%** | **Computers — 6.2%** | **Computers — 6.2%** |
| &nbsp;&nbsp;&nbsp; Accenture PLC, Class A | 18868 | &nbsp;&nbsp; 3938129 |
| &nbsp;&nbsp;&nbsp; Amdocs, Ltd. | 24743 | &nbsp;&nbsp; 1727061 |
| &nbsp;&nbsp;&nbsp; CACI International, Inc., Class A† | 947 | &nbsp;&nbsp; 577831 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | 70948 | &nbsp;&nbsp; 4571180 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Computers (continued)** | **Computers (continued)** | **Computers (continued)** |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | 47493 | &nbsp;&nbsp; $7032763 |
| &nbsp;&nbsp;&nbsp; Genpact, Ltd. | 14110 | &nbsp;&nbsp; 560449 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 201936 | &nbsp;&nbsp; 4335566 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp. | 22882 | &nbsp;&nbsp; 5496485 |
| &nbsp;&nbsp;&nbsp; Leidos Holdings, Inc. | 16175 | &nbsp;&nbsp; 2832243 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 4891 | &nbsp;&nbsp; 3107546 |
|  |  | &nbsp;&nbsp; 34179253 |
| **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** |
| &nbsp;&nbsp;&nbsp; Procter & Gamble Co. | 10697 | &nbsp;&nbsp; 1788538 |
| **Distribution/Wholesale — 0.9%** | **Distribution/Wholesale — 0.9%** | **Distribution/Wholesale — 0.9%** |
| &nbsp;&nbsp;&nbsp; Core & Main, Inc., Class A† | 86694 | &nbsp;&nbsp; 4695347 |
| **Diversified Financial Services — 6.3%** | **Diversified Financial Services — 6.3%** | **Diversified Financial Services — 6.3%** |
| &nbsp;&nbsp;&nbsp; Affiliated Managers Group, Inc. | 17552 | &nbsp;&nbsp; 5374071 |
| &nbsp;&nbsp;&nbsp; Blackrock, Inc. | 4456 | &nbsp;&nbsp; 4737753 |
| &nbsp;&nbsp;&nbsp; Houlihan Lokey, Inc. | 25039 | &nbsp;&nbsp; 4100637 |
| &nbsp;&nbsp;&nbsp; Invesco, Ltd. | 193849 | &nbsp;&nbsp; 5090475 |
| &nbsp;&nbsp;&nbsp; Janus Henderson Group PLC | 44313 | &nbsp;&nbsp; 2308707 |
| &nbsp;&nbsp;&nbsp; Synchrony Financial | 66096 | &nbsp;&nbsp; 4567895 |
| &nbsp;&nbsp;&nbsp; T. Rowe Price Group, Inc. | 52336 | &nbsp;&nbsp; 4952556 |
| &nbsp;&nbsp;&nbsp; Virtu Financial, Inc., Class A | 48648 | &nbsp;&nbsp; 2014514 |
| &nbsp;&nbsp;&nbsp; Western Union Co.# | 212099 | &nbsp;&nbsp; 2042513 |
|  |  | &nbsp;&nbsp; 35189121 |
| **Electric — 0.8%** | **Electric — 0.8%** | **Electric — 0.8%** |
| &nbsp;&nbsp;&nbsp; Talen Energy Corp.† | 11567 | &nbsp;&nbsp; 4291010 |
| **Electrical Components & Equipment — 1.9%** | **Electrical Components & Equipment — 1.9%** | **Electrical Components & Equipment — 1.9%** |
| &nbsp;&nbsp;&nbsp; Acuity, Inc. | 11692 | &nbsp;&nbsp; 3526190 |
| &nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 19326 | &nbsp;&nbsp; 7265030 |
|  |  | &nbsp;&nbsp; 10791220 |
| **Electronics — 2.9%** | **Electronics — 2.9%** | **Electronics — 2.9%** |
| &nbsp;&nbsp;&nbsp; Allegion PLC | 28796 | &nbsp;&nbsp; 4640475 |
| &nbsp;&nbsp;&nbsp; Garmin, Ltd. | 9038 | &nbsp;&nbsp; 2285078 |
| &nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 11778 | &nbsp;&nbsp; 2869003 |
| &nbsp;&nbsp;&nbsp; nVent Electric PLC | 50876 | &nbsp;&nbsp; 6021683 |
|  |  | &nbsp;&nbsp; 15816239 |
| **Engineering & Construction — 1.1%** | **Engineering & Construction — 1.1%** | **Engineering & Construction — 1.1%** |
| &nbsp;&nbsp;&nbsp; EMCOR Group, Inc. | 8242 | &nbsp;&nbsp; 5972318 |
| **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |
| &nbsp;&nbsp;&nbsp; Pentair PLC | 7980 | &nbsp;&nbsp; 791536 |
| **Food — 0.2%** | **Food — 0.2%** | **Food — 0.2%** |
| &nbsp;&nbsp;&nbsp; Albertsons Cos., Inc., Class A# | 42618 | &nbsp;&nbsp; 762862 |
| &nbsp;&nbsp;&nbsp; Flowers Foods, Inc. | 58966 | &nbsp;&nbsp; 582584 |
|  |  | &nbsp;&nbsp; 1345446 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| &nbsp;&nbsp;&nbsp; National Fuel Gas Co. | 26161 | &nbsp;&nbsp; 2381436 |
| **Hand/Machine Tools — 0.9%** | **Hand/Machine Tools — 0.9%** | **Hand/Machine Tools — 0.9%** |
| &nbsp;&nbsp;&nbsp; Snap-on, Inc. | 13019 | &nbsp;&nbsp; 5015179 |
| **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp.† | 75226 | &nbsp;&nbsp; 5781118 |
| &nbsp;&nbsp;&nbsp; Cooper Cos., Inc.† | 7270 | &nbsp;&nbsp; 608281 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | 42112 | &nbsp;&nbsp; 4112658 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 23184 | &nbsp;&nbsp; 5941132 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 6752 | &nbsp;&nbsp; 2616130 |
|  |  | &nbsp;&nbsp; 19059319 |

---

------

**VALIC Company I Systematic Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** | **Healthcare-Services — 0.5%** |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 1518 | &nbsp;&nbsp; $445184 |
| &nbsp;&nbsp;&nbsp; Universal Health Services, Inc., Class B | 9961 | &nbsp;&nbsp; 2052962 |
|  |  | &nbsp;&nbsp; 2498146 |
| **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** | **Household Products/Wares — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 5617 | &nbsp;&nbsp; 625958 |
| **Insurance — 8.0%** | **Insurance — 8.0%** | **Insurance — 8.0%** |
| &nbsp;&nbsp;&nbsp; Aflac, Inc. | 8266 | &nbsp;&nbsp; 933479 |
| &nbsp;&nbsp;&nbsp; Allstate Corp. | 10690 | &nbsp;&nbsp; 2293219 |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 5583 | &nbsp;&nbsp; 1872929 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 5151 | &nbsp;&nbsp; 1175458 |
| &nbsp;&nbsp;&nbsp; Assurant, Inc. | 10674 | &nbsp;&nbsp; 2450644 |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., Class B† | 41507 | &nbsp;&nbsp; 20958960 |
| &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. | 57438 | &nbsp;&nbsp; 4125197 |
| &nbsp;&nbsp;&nbsp; Globe Life, Inc. | 16425 | &nbsp;&nbsp; 2385896 |
| &nbsp;&nbsp;&nbsp; MGIC Investment Corp. | 174797 | &nbsp;&nbsp; 4637364 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 13668 | &nbsp;&nbsp; 2920305 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. | 1858 | &nbsp;&nbsp; 573453 |
|  |  | &nbsp;&nbsp; 44326904 |
| **Internet — 7.7%** | **Internet — 7.7%** | **Internet — 7.7%** |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class A | 45997 | &nbsp;&nbsp; 14340025 |
| &nbsp;&nbsp;&nbsp; Alphabet, Inc., Class C | 12669 | &nbsp;&nbsp; 3945507 |
| &nbsp;&nbsp;&nbsp; Amazon.com, Inc.† | 39509 | &nbsp;&nbsp; 8296890 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 1024 | &nbsp;&nbsp; 4341094 |
| &nbsp;&nbsp;&nbsp; Gen Digital, Inc. | 210614 | &nbsp;&nbsp; 4753558 |
| &nbsp;&nbsp;&nbsp; IAC, Inc.† | 51493 | &nbsp;&nbsp; 1973212 |
| &nbsp;&nbsp;&nbsp; Match Group, Inc. | 39894 | &nbsp;&nbsp; 1260650 |
| &nbsp;&nbsp;&nbsp; Meta Platforms, Inc., Class A | 5849 | &nbsp;&nbsp; 3791205 |
|  |  | &nbsp;&nbsp; 42702141 |
| **Machinery-Diversified — 1.5%** | **Machinery-Diversified — 1.5%** | **Machinery-Diversified — 1.5%** |
| &nbsp;&nbsp;&nbsp; Dover Corp. | 21019 | &nbsp;&nbsp; 4739784 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp. | 14105 | &nbsp;&nbsp; 3723015 |
|  |  | &nbsp;&nbsp; 8462799 |
| **Media — 3.0%** | **Media — 3.0%** | **Media — 3.0%** |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | 236987 | &nbsp;&nbsp; 7337118 |
| &nbsp;&nbsp;&nbsp; Fox Corp., Class A | 61748 | &nbsp;&nbsp; 3478882 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 56048 | &nbsp;&nbsp; 5943330 |
|  |  | &nbsp;&nbsp; 16759330 |
| **Mining — 1.7%** | **Mining — 1.7%** | **Mining — 1.7%** |
| &nbsp;&nbsp;&nbsp; Anglogold Ashanti PLC† | 19611 | &nbsp;&nbsp; 2505697 |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 45919 | &nbsp;&nbsp; 5969470 |
| &nbsp;&nbsp;&nbsp; Royal Gold, Inc. | 3578 | &nbsp;&nbsp; 1072649 |
|  |  | &nbsp;&nbsp; 9547816 |
| **Oil & Gas — 4.0%** | **Oil & Gas — 4.0%** | **Oil & Gas — 4.0%** |
| &nbsp;&nbsp;&nbsp; APA Corp. | 135859 | &nbsp;&nbsp; 4126038 |
| &nbsp;&nbsp;&nbsp; Expand Energy Corp. | 31387 | &nbsp;&nbsp; 3387285 |
| &nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 30346 | &nbsp;&nbsp; 4627765 |
| &nbsp;&nbsp;&nbsp; Ovintiv, Inc. | 92354 | &nbsp;&nbsp; 4672189 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 27489 | &nbsp;&nbsp; 5625349 |
|  |  | &nbsp;&nbsp; 22438626 |
| **Pharmaceuticals — 6.2%** | **Pharmaceuticals — 6.2%** | **Pharmaceuticals — 6.2%** |
| &nbsp;&nbsp;&nbsp; Cardinal Health, Inc. | 2541 | &nbsp;&nbsp; 582473 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | 67313 | &nbsp;&nbsp; 16722569 |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 6580 | &nbsp;&nbsp; 6496895 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 76637 | &nbsp;&nbsp; $9489193 |
| &nbsp;&nbsp;&nbsp; Organon & Co. | 179975 | &nbsp;&nbsp; 1312018 |
|  |  | &nbsp;&nbsp; 34603148 |
| **Pipelines — 0.6%** | **Pipelines — 0.6%** | **Pipelines — 0.6%** |
| &nbsp;&nbsp;&nbsp; DT Midstream, Inc. | 4740 | &nbsp;&nbsp; 658102 |
| &nbsp;&nbsp;&nbsp; ONEOK, Inc. | 33594 | &nbsp;&nbsp; 2780575 |
|  |  | &nbsp;&nbsp; 3438677 |
| **REITS — 4.4%** | **REITS — 4.4%** | **REITS — 4.4%** |
| &nbsp;&nbsp;&nbsp; Agree Realty Corp. | 65749 | &nbsp;&nbsp; 5291480 |
| &nbsp;&nbsp;&nbsp; Brixmor Property Group, Inc. | 56225 | &nbsp;&nbsp; 1701931 |
| &nbsp;&nbsp;&nbsp; Kimco Realty Corp. | 138876 | &nbsp;&nbsp; 3270530 |
| &nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. | 19318 | &nbsp;&nbsp; 2585907 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | 90242 | &nbsp;&nbsp; 6046214 |
| &nbsp;&nbsp;&nbsp; STAG Industrial, Inc. | 135620 | &nbsp;&nbsp; 5319016 |
|  |  | &nbsp;&nbsp; 24215078 |
| **Retail — 2.9%** | **Retail — 2.9%** | **Retail — 2.9%** |
| &nbsp;&nbsp;&nbsp; Dillard's, Inc., Class A# | 1003 | &nbsp;&nbsp; 604598 |
| &nbsp;&nbsp;&nbsp; Genuine Parts Co. | 14188 | &nbsp;&nbsp; 1692061 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp. | 12780 | &nbsp;&nbsp; 4358747 |
| &nbsp;&nbsp;&nbsp; Walmart, Inc. | 75685 | &nbsp;&nbsp; 9683896 |
|  |  | &nbsp;&nbsp; 16339302 |
| **Semiconductors — 3.8%** | **Semiconductors — 3.8%** | **Semiconductors — 3.8%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 3637 | &nbsp;&nbsp; 728164 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 14818 | &nbsp;&nbsp; 5272096 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 16692 | &nbsp;&nbsp; 761322 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 34669 | &nbsp;&nbsp; 14296456 |
|  |  | &nbsp;&nbsp; 21058038 |
| **Software — 1.5%** | **Software — 1.5%** | **Software — 1.5%** |
| &nbsp;&nbsp;&nbsp; Concentrix Corp.# | 46891 | &nbsp;&nbsp; 1538025 |
| &nbsp;&nbsp;&nbsp; DoubleVerify Holdings, Inc.† | 79860 | &nbsp;&nbsp; 841724 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | 13987 | &nbsp;&nbsp; 4891674 |
| &nbsp;&nbsp;&nbsp; Strategy, Inc.#† | 5707 | &nbsp;&nbsp; 739056 |
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies, Inc.† | 50516 | &nbsp;&nbsp; 313704 |
|  |  | &nbsp;&nbsp; 8324183 |
| **Telecommunications — 2.3%** | **Telecommunications — 2.3%** | **Telecommunications — 2.3%** |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 92041 | &nbsp;&nbsp; 7313578 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 109306 | &nbsp;&nbsp; 5480603 |
|  |  | &nbsp;&nbsp; 12794181 |
| **Transportation — 0.6%** | **Transportation — 0.6%** | **Transportation — 0.6%** |
| &nbsp;&nbsp;&nbsp; C.H. Robinson Worldwide, Inc. | 18666 | &nbsp;&nbsp; 3457876 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $450,231,840)<br>|  | &nbsp;&nbsp; 546430956 |
| **SHORT-TERM INVESTMENTS — 0.1%** | **SHORT-TERM INVESTMENTS — 0.1%** | **SHORT-TERM INVESTMENTS — 0.1%** |
| **Unaffiliated Investment Companies — 0.1%** | **Unaffiliated Investment Companies — 0.1%** | **Unaffiliated Investment Companies — 0.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government <br> Money Market Portfolio <br>3.69%(1)(2) <br>(cost $883,387)<br>| 883387 | &nbsp;&nbsp; 883387 |

---

------

**VALIC Company I Systematic Value Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **REPURCHASE AGREEMENTS — 0.8%** | **REPURCHASE AGREEMENTS — 0.8%** | **REPURCHASE AGREEMENTS — 0.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agreement with Fixed Income Clearing Corp., bearing <br> interest at 1.06% dated 02/27/2026, to be repurchased <br> 03/02/2026 in the amount of $4,245,929 and <br> collateralized by $4,548,800 of United States Treasury <br> Notes, bearing interest at 1.38% due 10/31/2028 and <br> having an approximate value of $4,330,632 <br>(cost $4,245,554)<br>| $4245554 | &nbsp;&nbsp; $4245554 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $455,360,781)<br>| 99.2<br> %<br>| &nbsp;&nbsp; 551559897 |
| Other assets less liabilities | 0.8 | &nbsp;&nbsp; 4490613 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $556050510 |

---

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

† Non-income producing security <br> # The security or a portion thereof is out on loan.

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(2) At February 28, 2026, the Fund had loaned securities with a total value of $2,904,170. This was secured by collateral of $883,387, which was received in cash and subsequently invested in short-term investments currently valued at $883,387 as reported in the Portfolio of Investments. Additional collateral of $2,083,946 was
 received in the form of fixed income pooled securities, which the Fund cannot sell or repledge and accordingly, are not reflected in the Fund's assets and liabilities. The components
 of the fixed income pooled securities referenced above are as follows:

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $634 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 3192 |
| United States Treasury Bills | 0.00% | 04/16/2026 to 07/23/2026 | 74876 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 04/30/2026 to 08/15/2055 | 2005244 |

---

The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $546430956 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $546430956 |
| Short-Term Investments | &nbsp;&nbsp; 883387 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 883387 |
| Repurchase Agreements | &nbsp;&nbsp; — | &nbsp;&nbsp; 4245554 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4245554 |
| **Total Investments at Value** | &nbsp;&nbsp; $547314343 | &nbsp;&nbsp; $4245554 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $551559897 |

---

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

\* For a detailed presentation of investments, please refer to the Portfolio of Investments.

See Notes to Portfolio of Investments

------

**VALIC Company I U.S. Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)***

------

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

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or** <br>**Principal** <br>**Amount**<br>| **Value** |
| **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** | **COMMON STOCKS — 99.4%** |
| **Aerospace/Defense — 1.0%** | **Aerospace/Defense — 1.0%** | **Aerospace/Defense — 1.0%** |
| &nbsp;&nbsp;&nbsp; Howmet Aerospace, Inc. | 18484 | &nbsp;&nbsp; $4852605 |
| **Airlines — 0.9%** | **Airlines — 0.9%** | **Airlines — 0.9%** |
| &nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. | 45488 | &nbsp;&nbsp; 2988561 |
| &nbsp;&nbsp;&nbsp; United Airlines Holdings, Inc.† | 10046 | &nbsp;&nbsp; 1067890 |
|  |  | &nbsp;&nbsp; 4056451 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aptiv PLC† | 5572 | &nbsp;&nbsp; 409765 |
| **Banks — 0.6%** | **Banks — 0.6%** | **Banks — 0.6%** |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 16600 | &nbsp;&nbsp; 1977060 |
| &nbsp;&nbsp;&nbsp; Fifth Third Bancorp | 2017 | &nbsp;&nbsp; 99781 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 3899 | &nbsp;&nbsp; 65503 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 2431 | &nbsp;&nbsp; 516223 |
| &nbsp;&nbsp;&nbsp; US Bancorp | 6434 | &nbsp;&nbsp; 351682 |
|  |  | &nbsp;&nbsp; 3010249 |
| **Beverages — 1.8%** | **Beverages — 1.8%** | **Beverages — 1.8%** |
| &nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc. | 93535 | &nbsp;&nbsp; 2832240 |
| &nbsp;&nbsp;&nbsp; Monster Beverage Corp.† | 65799 | &nbsp;&nbsp; 5612654 |
|  |  | &nbsp;&nbsp; 8444894 |
| **Biotechnology — 2.2%** | **Biotechnology — 2.2%** | **Biotechnology — 2.2%** |
| &nbsp;&nbsp;&nbsp; Biogen, Inc.† | 1379 | &nbsp;&nbsp; 264520 |
| &nbsp;&nbsp;&nbsp; Incyte Corp.† | 8898 | &nbsp;&nbsp; 901100 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | 4459 | &nbsp;&nbsp; 3485467 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.† | 11366 | &nbsp;&nbsp; 5646970 |
|  |  | &nbsp;&nbsp; 10298057 |
| **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | 2135 | &nbsp;&nbsp; 987053 |
| **Chemicals — 2.3%** | **Chemicals — 2.3%** | **Chemicals — 2.3%** |
| &nbsp;&nbsp;&nbsp; Ecolab, Inc. | 5376 | &nbsp;&nbsp; 1657690 |
| &nbsp;&nbsp;&nbsp; Linde PLC | 14969 | &nbsp;&nbsp; 7605449 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. | 3979 | &nbsp;&nbsp; 1442746 |
|  |  | &nbsp;&nbsp; 10705885 |
| **Commercial Services — 3.3%** | **Commercial Services — 3.3%** | **Commercial Services — 3.3%** |
| &nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 18334 | &nbsp;&nbsp; 3930076 |
| &nbsp;&nbsp;&nbsp; Cintas Corp. | 20208 | &nbsp;&nbsp; 4064435 |
| &nbsp;&nbsp;&nbsp; Moody's Corp. | 4106 | &nbsp;&nbsp; 1960985 |
| &nbsp;&nbsp;&nbsp; S&P Global, Inc. | 12452 | &nbsp;&nbsp; 5502290 |
|  |  | &nbsp;&nbsp; 15457786 |
| **Computers — 5.9%** | **Computers — 5.9%** | **Computers — 5.9%** |
| &nbsp;&nbsp;&nbsp; Accenture PLC, Class A | 16478 | &nbsp;&nbsp; 3439288 |
| &nbsp;&nbsp;&nbsp; Apple, Inc. | 16653 | &nbsp;&nbsp; 4399390 |
| &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp., Class A | 13551 | &nbsp;&nbsp; 873091 |
| &nbsp;&nbsp;&nbsp; Dell Technologies, Inc., Class C | 24798 | &nbsp;&nbsp; 3672088 |
| &nbsp;&nbsp;&nbsp; Fortinet, Inc.† | 29943 | &nbsp;&nbsp; 2366395 |
| &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co. | 168898 | &nbsp;&nbsp; 3626240 |
| &nbsp;&nbsp;&nbsp; HP, Inc. | 92873 | &nbsp;&nbsp; 1763658 |
| &nbsp;&nbsp;&nbsp; NetApp, Inc. | 42766 | &nbsp;&nbsp; 4235117 |
| &nbsp;&nbsp;&nbsp; Sandisk Corp.† | 1302 | &nbsp;&nbsp; 827239 |
| &nbsp;&nbsp;&nbsp; Seagate Technology Holdings PLC | 1843 | &nbsp;&nbsp; 751649 |
| &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc.#† | 10877 | &nbsp;&nbsp; 352306 |
| &nbsp;&nbsp;&nbsp; Western Digital Corp. | 5496 | &nbsp;&nbsp; 1537231 |
|  |  | &nbsp;&nbsp; 27843692 |
| **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** | **Cosmetics/Personal Care — 0.3%** |
| &nbsp;&nbsp;&nbsp; Kenvue, Inc. | 80501 | &nbsp;&nbsp; 1539179 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Distribution/Wholesale — 0.4%** | **Distribution/Wholesale — 0.4%** | **Distribution/Wholesale — 0.4%** |
| &nbsp;&nbsp;&nbsp; Copart, Inc.† | 45398 | &nbsp;&nbsp; $1729210 |
| **Diversified Financial Services — 9.7%** | **Diversified Financial Services — 9.7%** | **Diversified Financial Services — 9.7%** |
| &nbsp;&nbsp;&nbsp; American Express Co. | 20317 | &nbsp;&nbsp; 6275921 |
| &nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 1984 | &nbsp;&nbsp; 932718 |
| &nbsp;&nbsp;&nbsp; Blackrock, Inc. | 6704 | &nbsp;&nbsp; 7127894 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 38791 | &nbsp;&nbsp; 3692903 |
| &nbsp;&nbsp;&nbsp; CME Group, Inc. | 13320 | &nbsp;&nbsp; 4255740 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group, Inc., Class A | 4518 | &nbsp;&nbsp; 321637 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 20739 | &nbsp;&nbsp; 3403892 |
| &nbsp;&nbsp;&nbsp; Mastercard, Inc., Class A | 17399 | &nbsp;&nbsp; 8998937 |
| &nbsp;&nbsp;&nbsp; Visa, Inc., Class A | 31994 | &nbsp;&nbsp; 10242559 |
|  |  | &nbsp;&nbsp; 45252201 |
| **Electric — 3.8%** | **Electric — 3.8%** | **Electric — 3.8%** |
| &nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. | 25893 | &nbsp;&nbsp; 2913480 |
| &nbsp;&nbsp;&nbsp; Eversource Energy | 24166 | &nbsp;&nbsp; 1841691 |
| &nbsp;&nbsp;&nbsp; Exelon Corp. | 101685 | &nbsp;&nbsp; 5030357 |
| &nbsp;&nbsp;&nbsp; FirstEnergy Corp. | 40911 | &nbsp;&nbsp; 2093007 |
| &nbsp;&nbsp;&nbsp; PPL Corp. | 125930 | &nbsp;&nbsp; 4908751 |
| &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. | 7862 | &nbsp;&nbsp; 919540 |
|  |  | &nbsp;&nbsp; 17706826 |
| **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** | **Electrical Components & Equipment — 1.1%** |
| &nbsp;&nbsp;&nbsp; Eaton Corp. PLC | 11203 | &nbsp;&nbsp; 4211432 |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co. | 5369 | &nbsp;&nbsp; 809377 |
|  |  | &nbsp;&nbsp; 5020809 |
| **Electronics — 1.5%** | **Electronics — 1.5%** | **Electronics — 1.5%** |
| &nbsp;&nbsp;&nbsp; Amphenol Corp., Class A | 45466 | &nbsp;&nbsp; 6640764 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | 1306 | &nbsp;&nbsp; 300576 |
|  |  | &nbsp;&nbsp; 6941340 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.#† | 6015 | &nbsp;&nbsp; 975272 |
| **Environmental Control — 1.5%** | **Environmental Control — 1.5%** | **Environmental Control — 1.5%** |
| &nbsp;&nbsp;&nbsp; Republic Services, Inc. | 12509 | &nbsp;&nbsp; 2864561 |
| &nbsp;&nbsp;&nbsp; Waste Management, Inc. | 16865 | &nbsp;&nbsp; 4061767 |
|  |  | &nbsp;&nbsp; 6926328 |
| **Food — 0.5%** | **Food — 0.5%** | **Food — 0.5%** |
| &nbsp;&nbsp;&nbsp; General Mills, Inc. | 20441 | &nbsp;&nbsp; 924546 |
| &nbsp;&nbsp;&nbsp; Kraft Heinz Co. | 56211 | &nbsp;&nbsp; 1383353 |
| &nbsp;&nbsp;&nbsp; McCormick & Co., Inc. | 650 | &nbsp;&nbsp; 46176 |
|  |  | &nbsp;&nbsp; 2354075 |
| **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** | **Healthcare-Products — 3.4%** |
| &nbsp;&nbsp;&nbsp; Danaher Corp. | 9064 | &nbsp;&nbsp; 1909241 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.† | 13643 | &nbsp;&nbsp; 1179710 |
| &nbsp;&nbsp;&nbsp; GE HealthCare Technologies, Inc. | 9387 | &nbsp;&nbsp; 791042 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc.† | 2507 | &nbsp;&nbsp; 1646422 |
| &nbsp;&nbsp;&nbsp; Insulet Corp.† | 47 | &nbsp;&nbsp; 11591 |
| &nbsp;&nbsp;&nbsp; ResMed, Inc. | 6588 | &nbsp;&nbsp; 1688241 |
| &nbsp;&nbsp;&nbsp; STERIS PLC | 1639 | &nbsp;&nbsp; 413602 |
| &nbsp;&nbsp;&nbsp; Stryker Corp. | 10141 | &nbsp;&nbsp; 3929232 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 8466 | &nbsp;&nbsp; 4411717 |
| &nbsp;&nbsp;&nbsp; Waters Corp.† | 184 | &nbsp;&nbsp; 58766 |
|  |  | &nbsp;&nbsp; 16039564 |
| **Healthcare-Services — 0.8%** | **Healthcare-Services — 0.8%** | **Healthcare-Services — 0.8%** |
| &nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 3925 | &nbsp;&nbsp; 1256000 |
| &nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 4764 | &nbsp;&nbsp; 2523491 |
|  |  | &nbsp;&nbsp; 3779491 |

---

------

**VALIC Company I U.S. Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Household Products/Wares — 0.5%** | **Household Products/Wares — 0.5%** | **Household Products/Wares — 0.5%** |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co., Inc. | 17938 | &nbsp;&nbsp; $1880979 |
| &nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 2458 | &nbsp;&nbsp; 273919 |
|  |  | &nbsp;&nbsp; 2154898 |
| **Insurance — 2.7%** | **Insurance — 2.7%** | **Insurance — 2.7%** |
| &nbsp;&nbsp;&nbsp; Aflac, Inc. | 3480 | &nbsp;&nbsp; 392996 |
| &nbsp;&nbsp;&nbsp; Aon PLC, Class A | 2067 | &nbsp;&nbsp; 693417 |
| &nbsp;&nbsp;&nbsp; Arthur J. Gallagher & Co. | 6278 | &nbsp;&nbsp; 1432640 |
| &nbsp;&nbsp;&nbsp; Chubb, Ltd. | 9998 | &nbsp;&nbsp; 3407918 |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. | 10177 | &nbsp;&nbsp; 1900453 |
| &nbsp;&nbsp;&nbsp; Progressive Corp. | 16391 | &nbsp;&nbsp; 3502101 |
| &nbsp;&nbsp;&nbsp; Travelers Cos., Inc. | 3528 | &nbsp;&nbsp; 1088882 |
|  |  | &nbsp;&nbsp; 12418407 |
| **Internet — 7.4%** | **Internet — 7.4%** | **Internet — 7.4%** |
| &nbsp;&nbsp;&nbsp; AppLovin Corp., Class A† | 2233 | &nbsp;&nbsp; 970841 |
| &nbsp;&nbsp;&nbsp; Booking Holdings, Inc. | 1356 | &nbsp;&nbsp; 5748559 |
| &nbsp;&nbsp;&nbsp; DoorDash, Inc., Class A† | 15318 | &nbsp;&nbsp; 2703168 |
| &nbsp;&nbsp;&nbsp; eBay, Inc. | 70257 | &nbsp;&nbsp; 6383551 |
| &nbsp;&nbsp;&nbsp; Expedia Group, Inc. | 5610 | &nbsp;&nbsp; 1210021 |
| &nbsp;&nbsp;&nbsp; Match Group, Inc. | 125780 | &nbsp;&nbsp; 3974648 |
| &nbsp;&nbsp;&nbsp; Netflix, Inc.† | 87443 | &nbsp;&nbsp; 8415514 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.† | 33974 | &nbsp;&nbsp; 5059408 |
| &nbsp;&nbsp;&nbsp; Robinhood Markets, Inc., Class A† | 1497 | &nbsp;&nbsp; 113547 |
|  |  | &nbsp;&nbsp; 34579257 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. | 222 | &nbsp;&nbsp; 69033 |
| **Lodging — 1.2%** | **Lodging — 1.2%** | **Lodging — 1.2%** |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Holdings, Inc. | 18263 | &nbsp;&nbsp; 5694038 |
| **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** | **Machinery-Construction & Mining — 0.7%** |
| &nbsp;&nbsp;&nbsp; GE Vernova, Inc. | 3998 | &nbsp;&nbsp; 3492653 |
| **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** | **Machinery-Diversified — 0.6%** |
| &nbsp;&nbsp;&nbsp; Deere & Co. | 4547 | &nbsp;&nbsp; 2863291 |
| **Media — 0.9%** | **Media — 0.9%** | **Media — 0.9%** |
| &nbsp;&nbsp;&nbsp; Comcast Corp., Class A | 124974 | &nbsp;&nbsp; 3869195 |
| &nbsp;&nbsp;&nbsp; Walt Disney Co. | 4283 | &nbsp;&nbsp; 454169 |
|  |  | &nbsp;&nbsp; 4323364 |
| **Mining — 0.7%** | **Mining — 0.7%** | **Mining — 0.7%** |
| &nbsp;&nbsp;&nbsp; Newmont Corp. | 25338 | &nbsp;&nbsp; 3293940 |
| **Oil & Gas — 1.6%** | **Oil & Gas — 1.6%** | **Oil & Gas — 1.6%** |
| &nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 7529 | &nbsp;&nbsp; 1310648 |
| &nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 28203 | &nbsp;&nbsp; 3499428 |
| &nbsp;&nbsp;&nbsp; EQT Corp. | 14943 | &nbsp;&nbsp; 917799 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 4684 | &nbsp;&nbsp; 248627 |
| &nbsp;&nbsp;&nbsp; Texas Pacific Land Corp. | 987 | &nbsp;&nbsp; 517474 |
| &nbsp;&nbsp;&nbsp; Valero Energy Corp. | 4781 | &nbsp;&nbsp; 978384 |
|  |  | &nbsp;&nbsp; 7472360 |
| **Pharmaceuticals — 1.1%** | **Pharmaceuticals — 1.1%** | **Pharmaceuticals — 1.1%** |
| &nbsp;&nbsp;&nbsp; McKesson Corp. | 3500 | &nbsp;&nbsp; 3455795 |
| &nbsp;&nbsp;&nbsp; Merck & Co., Inc. | 8072 | &nbsp;&nbsp; 999475 |
| &nbsp;&nbsp;&nbsp; Zoetis, Inc. | 7033 | &nbsp;&nbsp; 922026 |
|  |  | &nbsp;&nbsp; 5377296 |
| **Pipelines — 1.8%** | **Pipelines — 1.8%** | **Pipelines — 1.8%** |
| &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 83645 | &nbsp;&nbsp; 2782869 |

---

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp; Targa Resources Corp. | 9318 | &nbsp;&nbsp; $2197184 |
| &nbsp;&nbsp;&nbsp; Williams Cos., Inc. | 47091 | &nbsp;&nbsp; 3518640 |
|  |  | &nbsp;&nbsp; 8498693 |
| **Private Equity — 0.4%** | **Private Equity — 0.4%** | **Private Equity — 0.4%** |
| &nbsp;&nbsp;&nbsp; Blackstone, Inc. | 14594 | &nbsp;&nbsp; 1654522 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp; CBRE Group, Inc., Class A† | 2258 | &nbsp;&nbsp; 333416 |
| **REITS — 2.9%** | **REITS — 2.9%** | **REITS — 2.9%** |
| &nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. | 4240 | &nbsp;&nbsp; 751328 |
| &nbsp;&nbsp;&nbsp; Equinix, Inc. | 2670 | &nbsp;&nbsp; 2601274 |
| &nbsp;&nbsp;&nbsp; Prologis, Inc. | 31076 | &nbsp;&nbsp; 4430505 |
| &nbsp;&nbsp;&nbsp; Realty Income Corp. | 15625 | &nbsp;&nbsp; 1046875 |
| &nbsp;&nbsp;&nbsp; Welltower, Inc. | 22928 | &nbsp;&nbsp; 4748848 |
|  |  | &nbsp;&nbsp; 13578830 |
| **Retail — 5.1%** | **Retail — 5.1%** | **Retail — 5.1%** |
| &nbsp;&nbsp;&nbsp; AutoZone, Inc.† | 335 | &nbsp;&nbsp; 1258119 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.† | 23395 | &nbsp;&nbsp; 870762 |
| &nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 2094 | &nbsp;&nbsp; 447802 |
| &nbsp;&nbsp;&nbsp; Dollar General Corp. | 4040 | &nbsp;&nbsp; 631210 |
| &nbsp;&nbsp;&nbsp; Home Depot, Inc. | 13855 | &nbsp;&nbsp; 5274876 |
| &nbsp;&nbsp;&nbsp; Lowe's Cos., Inc. | 15971 | &nbsp;&nbsp; 4225447 |
| &nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.† | 22273 | &nbsp;&nbsp; 2090989 |
| &nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 4521 | &nbsp;&nbsp; 929698 |
| &nbsp;&nbsp;&nbsp; TJX Cos., Inc. | 47016 | &nbsp;&nbsp; 7600607 |
| &nbsp;&nbsp;&nbsp; Yum! Brands, Inc. | 3616 | &nbsp;&nbsp; 608067 |
|  |  | &nbsp;&nbsp; 23937577 |
| **Semiconductors — 18.2%** | **Semiconductors — 18.2%** | **Semiconductors — 18.2%** |
| &nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.† | 15979 | &nbsp;&nbsp; 3199156 |
| &nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 10335 | &nbsp;&nbsp; 3677090 |
| &nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 13544 | &nbsp;&nbsp; 5042431 |
| &nbsp;&nbsp;&nbsp; Broadcom, Inc. | 43868 | &nbsp;&nbsp; 14018019 |
| &nbsp;&nbsp;&nbsp; Intel Corp.† | 50728 | &nbsp;&nbsp; 2313704 |
| &nbsp;&nbsp;&nbsp; KLA Corp. | 3336 | &nbsp;&nbsp; 5085899 |
| &nbsp;&nbsp;&nbsp; Lam Research Corp. | 29804 | &nbsp;&nbsp; 6970857 |
| &nbsp;&nbsp;&nbsp; Micron Technology, Inc. | 12188 | &nbsp;&nbsp; 5025966 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp. | 224266 | &nbsp;&nbsp; 39737692 |
| &nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 1635 | &nbsp;&nbsp; 346800 |
|  |  | &nbsp;&nbsp; 85417614 |
| **Software — 6.7%** | **Software — 6.7%** | **Software — 6.7%** |
| &nbsp;&nbsp;&nbsp; Adobe, Inc.† | 11789 | &nbsp;&nbsp; 3093551 |
| &nbsp;&nbsp;&nbsp; Autodesk, Inc.† | 11390 | &nbsp;&nbsp; 2800459 |
| &nbsp;&nbsp;&nbsp; Cadence Design Systems, Inc.† | 8533 | &nbsp;&nbsp; 2571846 |
| &nbsp;&nbsp;&nbsp; Datadog, Inc., Class A† | 3303 | &nbsp;&nbsp; 369804 |
| &nbsp;&nbsp;&nbsp; Electronic Arts, Inc. | 7949 | &nbsp;&nbsp; 1594331 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp.† | 751 | &nbsp;&nbsp; 1058429 |
| &nbsp;&nbsp;&nbsp; Intuit, Inc. | 5200 | &nbsp;&nbsp; 2126956 |
| &nbsp;&nbsp;&nbsp; Oracle Corp. | 18303 | &nbsp;&nbsp; 2661256 |
| &nbsp;&nbsp;&nbsp; Palantir Technologies, Inc., Class A† | 23652 | &nbsp;&nbsp; 3244818 |
| &nbsp;&nbsp;&nbsp; Roper Technologies, Inc. | 4746 | &nbsp;&nbsp; 1659819 |
| &nbsp;&nbsp;&nbsp; Salesforce, Inc. | 19880 | &nbsp;&nbsp; 3872425 |
| &nbsp;&nbsp;&nbsp; ServiceNow, Inc.† | 28258 | &nbsp;&nbsp; 3052147 |
| &nbsp;&nbsp;&nbsp; Synopsys, Inc.† | 2343 | &nbsp;&nbsp; 970002 |
| &nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.† | 2075 | &nbsp;&nbsp; 735982 |
| &nbsp;&nbsp;&nbsp; Workday, Inc., Class A† | 10367 | &nbsp;&nbsp; 1386690 |
|  |  | &nbsp;&nbsp; 31198515 |
| **Telecommunications — 4.6%** | **Telecommunications — 4.6%** | **Telecommunications — 4.6%** |
| &nbsp;&nbsp;&nbsp; Arista Networks, Inc.† | 40759 | &nbsp;&nbsp; 5441327 |
| &nbsp;&nbsp;&nbsp; AT&T, Inc. | 24905 | &nbsp;&nbsp; 697589 |

---

------

**VALIC Company I U.S. Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

------

---

| | | |
|:---|:---|:---|
| **Security Description** | **Shares or**<br> **Principal**<br> **Amount**<br>| **Value** |
| **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** | **COMMON STOCKS (continued)** |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; Ciena Corp.† | 1137 | &nbsp;&nbsp; $396472 |
| &nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 103578 | &nbsp;&nbsp; 8230308 |
| &nbsp;&nbsp;&nbsp; Corning, Inc. | 14585 | &nbsp;&nbsp; 2193292 |
| &nbsp;&nbsp;&nbsp; Motorola Solutions, Inc. | 2103 | &nbsp;&nbsp; 1014193 |
| &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 71253 | &nbsp;&nbsp; 3572625 |
|  |  | &nbsp;&nbsp; 21545806 |
| **Transportation — 0.7%** | **Transportation — 0.7%** | **Transportation — 0.7%** |
| &nbsp;&nbsp;&nbsp; CSX Corp. | 15975 | &nbsp;&nbsp; 681973 |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, Inc. | 1549 | &nbsp;&nbsp; 314524 |
| &nbsp;&nbsp;&nbsp; Union Pacific Corp. | 8817 | &nbsp;&nbsp; 2336329 |
|  |  | &nbsp;&nbsp; 3332826 |
| &nbsp;&nbsp;&nbsp; **Total Long-Term Investment Securities** <br>(cost $296,214,404)<br>|  | &nbsp;&nbsp; 465567068 |
| **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** | **SHORT-TERM INVESTMENTS — 0.3%** |
| **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** | **Unaffiliated Investment Companies — 0.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State Street Institutional U.S. Government Money Market <br> Fund, Premier Class <br>3.63%(1) <br>(cost $1,417,033)<br>| 1417033 | &nbsp;&nbsp; 1417033 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS** <br>(cost $297,631,437)<br>| 99.7<br> %<br>| &nbsp;&nbsp; 466984101 |
| Other assets less liabilities | 0.3 | &nbsp;&nbsp; 1410917 |
| **NET ASSETS** | 100.0<br> %<br>| &nbsp;&nbsp; $468395018 |

---

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

---

| | |
|:---|:---|
| † | Non-income producing security |
| # | &nbsp;&nbsp; The security or a portion thereof is out on loan. <br>At February 28, 2026, the Fund had loaned securities with a total value of $1,327,578. <br> This was secured by collateral of $1,331,321 received in the form of fixed income pooled <br> securities, which the Fund cannot sell or repledge and accordingly, are not reflected in <br> the Fund's assets and liabilities. The components of the fixed income pooled securities <br> referenced above are as follows:<br>|

---

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

---

| | | | |
|:---|:---|:---|:---|
| **Securities** | **Coupon Range** | **Maturity Date Range** | **Value as of** <br>**February 28, 2026**<br>|
| Federal Farm Credit Bank | 0.94% | 09/28/2026 | $2224 |
| Federal Home Loan Bank | 1.05% to 3.76% | 04/23/2026 to 10/13/2026 | 11199 |
| &nbsp;&nbsp;&nbsp; United States Treasury <br> Notes/Bonds<br>| 0.13% to 6.25% | 07/31/2026 to 08/15/2055 | 1317898 |

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

&nbsp;&nbsp;&nbsp;&nbsp;(1) The rate shown is the 7-day yield as of February 28, 2026.

**Futures Contracts**

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---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number** <br>**of** <br>**Contracts**<br>| **Type** | **Description** | &nbsp;&nbsp; **Expiration** <br>**Month**<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Basis\***<br>| &nbsp;&nbsp;&nbsp; **Notional** <br>**Value\***<br>| &nbsp;&nbsp;&nbsp; **Unrealized** <br>**Appreciation**<br>|
| 17 | Long | S&P 500 E-Mini Index | March 2026 | &nbsp;&nbsp;&nbsp;&nbsp; $5846026 | &nbsp;&nbsp;&nbsp;&nbsp; $5855650 | &nbsp;&nbsp;&nbsp;&nbsp; $9624 |

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

\* Notional basis refers to the contractual amount agreed upon at inception of the open contract; notional value represents the current value of the open contract.

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**VALIC Company I U.S. Socially Responsible Fund**

**PORTFOLIO OF INVESTMENTS *— February 28, 2026*** — ***(unaudited)*** — ***(continued)***

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The following is a summary of the inputs used to value the Fund's net assets as of February 28, 2026 (see Note 1):

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1 - Unadjusted** <br>**Quoted Prices**<br>| **Level 2 - Other** <br>**Observable Inputs**<br>| **Level 3 - Significant** <br>**Unobservable Inputs**<br>| **Total** |
| **ASSETS:** |  |  |  |  |
| <u>Investments at Value:\*</u> |  |  |  |  |
| Common Stocks | &nbsp;&nbsp; $465567068 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $465567068 |
| Short-Term Investments | &nbsp;&nbsp; 1417033 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1417033 |
| **Total Investments at Value** | &nbsp;&nbsp; $466984101 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $466984101 |
| <u>Other Financial Instruments:</u><u>†</u> |  |  |  |  |
| Futures Contracts | &nbsp;&nbsp; $9624 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9624 |

---

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

---

| | |
|:---|:---|
| \* | For a detailed presentation of investments, please refer to the Portfolio of Investments. |
| † | Amounts represent unrealized appreciation/depreciation as of the end of the reporting period. |

---

See Notes to Portfolio of Investments

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited)***

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**Note 1 — Security Valuation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In accordance with the authoritative guidance on fair value measurements and disclosures under U.S. generally accepted accounting principles ("GAAP"), the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. In accordance with GAAP, fair value is defined as the price that the Funds would receive upon selling an asset or transferring a liability in a timely transaction to an independent third party in the principal or most advantageous market. GAAP establishes a three-tier hierarchy to provide more transparency around the inputs used to measure fair value and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The three-tiers are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 1 — Unadjusted quoted prices in active markets for identical securities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with pricing procedures adopted by the Board of Directors (the "Board")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level 3 — Significant unobservable inputs (includes inputs that reflect the Funds' own assumptions about the assumptions market participants would use in pricing the security, developed based on the best information available under the circumstances)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in valuation techniques may result in transfers in or out of an investment's assigned Level within the hierarchy. The methodology used for valuing investments is not necessarily an indication of the risk associated with investing in those investments and the determination of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to each security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is recently issued and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The summary of the Funds' assets and liabilities classified in the fair value hierarchy as of February 28, 2026, is reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stocks are generally valued based upon closing sales prices reported on recognized securities exchanges on which the securities are principally traded and are generally categorized as Level 1. Stocks listed on the NASDAQ are valued using the NASDAQ Official Closing Price ("NOCP"). Generally, the NOCP will be the last sale price unless the reported trade for the stock is outside the range of the bid/ask price. In such cases, the NOCP will be normalized to the nearer of the bid or ask price. For listed securities having no sales reported and for unlisted securities, such securities will be valued based upon the last reported bid price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of the close of regular trading on the New York Stock Exchange ("NYSE"), securities traded primarily on security exchanges outside the United States are valued at the last sale price on such exchanges on the day of valuation, or if there is no sale on the day of valuation, at the last-reported bid price. If a security's price is available from more than one exchange, the Funds use the exchange that is the primary market for the security. Such securities are generally categorized as Level 1. However, depending on the foreign market, closing prices may be up to 15 hours old when they are used to price a Fund's shares, and the Fund may determine that certain closing prices do not reflect the fair value of the security. This determination will be based on the review of a number of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. If a Fund determines that closing prices do not reflect the fair value of the securities, the Fund will adjust the previous closing prices in accordance with pricing procedures adopted by the Board to reflect what it believes to be the fair value of the securities as of the close of regular trading on the NYSE. The Funds may also fair value securities in other situations, for example, when a particular foreign market is closed but a Fund is open. For foreign equity securities, the Funds use an outside pricing service to provide it with closing market prices and information used for adjusting those prices, and when so adjusted, such securities are generally categorized as Level 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds, debentures, and other debt securities are valued at evaluated bid prices obtained for the day of valuation from an independent pricing service and are generally categorized as Level 2. The pricing services may use valuation models or matrix pricing which considers information with respect to comparable bond and note transactions, quotations from bond dealers, or by reference to other securities that are considered comparable in such characteristics as rating, interest rate, maturity date, option adjusted spread models, prepayments projections, interest rate spreads, and yield curves to determine current value. Typically, these securities are valued assuming orderly transactions of institutional round lot sizes, but a Fund may hold or, from time to time, transact in such securities in smaller, odd lot sizes in which case they may be fair valued in accordance with pricing procedures adopted by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior floating rate loans ("Loans") are valued at the average of available bids in the market for such Loans, as provided by an independent loan pricing service, and are generally categorized as Level 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments in registered investment companies that do not trade on an exchange are valued at the end of day net asset value per share. Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the customary trading session on the exchange where the security is principally traded. Investments in registered investment companies are generally categorized as Level 1.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures contracts traded on national securities exchanges are valued at the quoted daily settlement price established by the exchange on which they trade reported by an independent pricing service, and are generally categorized as Level 1. Interest rate, credit default, inflation and currency swap agreements are valued utilizing quotes received daily by independent pricing services, which are derived using daily swap curves and models that incorporate market data and discounted cash flows and are generally categorized as

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited) — (continued)***

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Level 2. Total return and contracts for difference swap agreements are valued utilizing quotes received daily by independent pricing services, which are derived using models that incorporate market trades and fair value of the underlying reference instrument and are generally categorized as Level 2. Option contracts traded on national securities exchanges are valued at the mean of the last bid and ask price reported by an independent pricing service as of the close of the exchange on which they are traded, and are generally categorized as Level 1. Option contracts traded in the over-the-counter ("OTC") market are valued at the mid valuation provided by an independent pricing service, and are generally categorized as Level 2. Forward foreign currency contracts ("forward contracts") are valued at the 4:00 p.m. Eastern Time forward rate and are generally categorized as Level 2.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other securities are valued on the basis of last sale or bid price (if a last sale price is not available) which is, in the opinion of the Adviser, the broadest and most representative market, that may be either a securities exchange or OTC market, and are generally categorized as Level 1 or Level 2. Securities for which market quotations are not readily available or the values of which may be significantly impacted by the occurrence of developments or significant events are generally categorized as Level 3. Because there is no single standard for making fair value determinations, the Funds' fair determinations may vary from fair value determinations made by other funds for the same securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board must determine fair value in good faith for portfolio holdings for which market quotations are not readily available or are unreliable. The Board has designated The Variable Annuity Life Insurance Company ("VALIC") as the valuation designee ("Valuation Designee") to perform the fair valuation determinations relating to any or all fund investments. VALIC, as the Valuation Designee, has adopted policies and procedures and has established a pricing review committee to determine the fair value of the designated portfolio holdings on its behalf.

**Note 2 — Derivative Instruments**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Forward Foreign Currency Contracts**: A forward contract is an agreement between two parties to buy or sell currency at a set price on a future date. The market value of the contract will fluctuate with changes in currency exchange rates. The contract is marked-to-market daily using the forward rate and the cumulative change in market value is recorded by a Fund as unrealized appreciation or depreciation. On the settlement date, a Fund records either realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risks to a Fund of entering into forward contracts include counterparty risk, market risk and illiquidity risk. Counterparty risk arises upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, a Fund's loss will generally consist of the net amount of contractual payments that the Fund has not yet received though the Fund's maximum exposure due to counterparty risk could extend to the notional amount of the contract. Market risk is the risk that the value of the forward contract will depreciate due to unfavorable changes in the exchange rates. These contracts may involve market risk in excess of the unrealized appreciation or depreciation reported on the Portfolio of Investments. Illiquidity risk arises because the secondary market for forwards may have less liquidity relative to markets for other securities. Currency transactions are also subject to risks different from those of other portfolio transactions. Because currency control is of great importance to the issuing governments and influences economic planning and policy, purchases and sales of currency and related instruments can be adversely affected by government exchange controls, limitations or restrictions on repatriation of currency, and manipulations or exchange restrictions imposed by governments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward foreign currency contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Futures:** A futures contract is an agreement between two parties to buy and sell a financial instrument at a set price on a future date. Upon entering into a futures transaction, a Fund will be required to segregate an initial margin payment of cash or other liquid securities with the futures commission merchant (the "broker"). Subsequent payments are made or received by the Fund as a result of changes in the value of the contract and/or changes in the value of the initial margin requirement. When a contract is closed, the Funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The primary risk to a Fund of entering into futures contracts is market risk. Market risk is the risk that there will be an unfavorable change in the interest rate, value or currency rate of the underlying security or securities. Futures contracts involve, to varying degrees, risk of loss in excess of the variation margin. There may also be trading restrictions or limitations imposed by an exchange, and government regulations may restrict trading in futures contracts. While a Fund will generally only purchase exchange-traded futures, due to market conditions, there may not always be a liquid secondary market for a futures contract and, as a result, the Fund may be unable to close out its futures contracts at a time which is advantageous. In addition, if a Fund has insufficient cash to meet margin requirements, the Fund may need to sell other investments, including at disadvantageous times. There is generally minimal counterparty risk to a Fund since the futures contracts are generally exchange-traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Futures contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Options:** An option is a contract conveying a right to buy or sell a financial instrument at a specified price during a stipulated period. When a Fund writes a call or a put option, it receives a premium which is equal to the current market value of the option written. If a Fund purchases a call or a put option, it pays a premium which reflects the current market value of the option. The option position is marked to market daily and its value fluctuates based upon the value of the underlying financial instrument, time to expiration, cost of borrowing funds, and volatility of the value of the underlying financial instrument. If an option which a Fund has written either expires on its stipulated expiration date, or if the Fund enters into a closing purchase transaction, the Fund realizes a gain (or loss if the cost of a closing purchase transaction exceeds the premium received when the option was written) without regard to any unrealized gain or loss on the underlying security, and the liability related to such options is extinguished. If a call option which a Fund has written is exercised, the Fund realizes a gain or loss from the sale of the underlying security and the proceeds from such sale are increased by the premium originally received. If a put option which a Fund has written is exercised, the amount of the premium originally received reduces the cost of the security which the Fund purchased upon exercise of the option. Options may be traded on a national securities exchange or in the OTC market.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risks to a Fund of entering into option contracts include counterparty risk, market risk and, with respect to OTC options, illiquidity risk. Counterparty risk arises from the potential inability of counterparties to meet the terms of their contracts. If the counterparty defaults, a Fund's loss will consist of the net amount of contractual payments that the Fund has not yet received. Market risk is the risk that there will be an unfavorable change in the value of the underlying securities. There is also the risk a Fund may not be able to enter into a closing transaction because of an illiquid market. In addition, unlisted options are not traded on an exchange and may not be as actively traded as listed options,

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited) — (continued)***

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making the valuation of such securities more difficult. An unlisted option also entails a greater risk that the party on the other side of the option transaction may default, which would make it impossible to close out an unlisted option position in some cases, and profits related to the transaction lost thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Swap Contracts:** Certain Funds may enter into contract for difference, credit default, inflation, interest rate, and total return swap contracts. Swap contracts are privately negotiated in the OTC market and may be entered into as a bilateral contract or a centrally cleared contract ("centrally cleared swaps"). In a centrally cleared swap, immediately following execution of the swap contract, the swap contract is novated to a central counterparty (the "CCP") and a Fund faces the CCP through a broker. Upon entering into a centrally cleared swap, a Fund is required to deposit initial margin with the broker in the form of cash or securities in an amount that varies depending on the size and risk profile of the particular swap. Securities deposited as initial margin are designated on the Portfolio of Investments. Unlike a bilateral swap contract, for centrally cleared swaps, a Fund has no credit exposure to the counterparty as the CCP stands between the Fund and the counterparty. Swaps are marked-to-market daily and the changes in value are recorded as an unrealized gain (loss). The daily change in valuation of swap contracts, if any, is recorded as unrealized appreciation (depreciation) on swap contracts. When the swap is terminated, a Fund will record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the Fund's basis in the contract, if any. Generally, the basis of the contracts is the premium received or paid. Upfront payments and receipts on swap contracts are amortized on a daily basis. Net periodic payments made or received by a Fund are included as part of realized gain (loss).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Contracts for Difference:*** A contract for difference ("CFD") is a privately negotiated over-the-counter equity derivative contract between two parties, buyer and seller, stipulating that the seller will pay to or receive from the buyer the difference between the nominal value of the underlying instrument at the opening of the contract and that instrument's value at the end of the contract. As an over-the-counter derivative contract, CFDs are not traded on an exchange. A CFD offers exposure to price changes in an underlying security without ownership of such security, typically by providing investors the ability to trade on margin. When entering into a CFD, the Fund attempts to predict either that the price of the underlying security will fall (taking a short position) or that the price of the security will rise (taking a long position). CFDs are subject to illiquidity risk because the liquidity of contracts for difference is based on the liquidity of the underlying instrument. CFDs are also subject to the risk that the counterparty to the CFD transaction may be unable or unwilling to make payments or to otherwise honor its financial obligations under the terms of the contract. CFDs, like many other derivative instruments, involve the risk that, if the derivative security declines in value, additional margin would be required to maintain the margin level. The seller may require the Fund to deposit additional sums to maintain proper margin coverage, and this may be at short notice. If additional margin is not provided in time, the seller may liquidate the positions at a loss to the Fund. As is the case with owning any financial instrument, there is the risk of loss associated with buying a CFD. For example, if the Fund buys a long CFD and the underlying security is worth less at the end of the contract, the Fund would be required to make a payment to the seller and would suffer a loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CFD contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Credit Default Swap Agreements:*** Credit default swaps are generally contracts in which one party makes periodic fixed-rate payments or a one time premium payment (referred to as the buyer of protection) to another party (the seller of protection) in exchange for the right to receive a specified payment in the event of a default or other credit event for the referenced entity, obligation or index. As a seller of protection on credit default swaps, a Fund will generally receive from the buyer of protection a fixed rate of income throughout the term of the swap provided that there is no credit event. As the seller, a Fund would effectively add leverage to its portfolio because, in addition to its total net assets, the Fund would be subject to investment exposure on the notional amount of the swap. If a Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. As a buyer of protection on credit default swaps, a Fund will make periodic payments, similar to an insurance premium and the seller of protection agrees to compensate the Fund for future potential losses as a result of a credit event on the reference bond or other asset. A Fund effectively transfers the credit event risk of the reference bond or asset from it to the seller of protection. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps on corporate issues or sovereign issues of an emerging market country are contracts in which the buyer of protection makes periodic fixed payments or a one time premium payment to the seller of protection in exchange for the right to receive a specified payment in the event of a default or other credit event. If a credit event occurs and cash settlement is not elected, a variety of other deliverable obligations may be delivered in lieu of the specific referenced obligation. The ability to deliver other obligations may result in a cheapest-to deliver option (the buyer of protection's right to choose the deliverable obligation with the lowest value following a credit event). A Fund may use credit default swaps on corporate issues or sovereign issues of an emerging market country to provide a measure of protection against defaults of the issuers (i.e., to reduce credit risk where the Fund owns or has exposure to the referenced obligation) or to take a speculative credit position with an active long or short position with respect to the likelihood of a particular issuer's default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps on asset-backed securities are contracts in which the buyer of protection makes periodic fixed-rate payments or a one time premium payment to the seller of protection in exchange for the right to receive a specified payment in the event of a default or other credit event. Unlike credit default swaps on corporate issues or sovereign issues of an emerging market country, deliverable obligations in most instances would be limited to the specific referenced obligation as performance for asset-backed securities can vary across deals. Prepayments, principal paydowns, and other writedown or loss events on the underlying mortgage loans will reduce the outstanding principal balance of the referenced obligation. These reductions may be temporary or permanent as defined under the terms of the swap agreement and the notional amount for the swap agreement will be adjusted by corresponding amounts. A Fund may use credit default swaps on asset-backed securities to provide a measure of protection against defaults of the referenced obligation or to take a speculative credit position with an active long or short position with respect to the likelihood of a particular referenced obligation's default.

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited) — (continued)***

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit default swaps on credit indices are generally contracts in which the buyer of protection makes periodic fixed-rate payments or a one time premium payment to the seller of protection in exchange for the right to receive a specified payment in the event of a write-down, principal shortfall, interest shortfall or default of all or part of the referenced entities comprising the credit index. A credit index is a list of a basket of credit instruments or exposures designed to be representative of some part of the credit market as a whole. These indices are made up of reference credits that are judged by a poll of dealers to be the most liquid entities in the credit default swap market based on the sector of the index. Components of the indices may include, but are not limited to, investment grade securities, high yield securities, asset backed securities, emerging markets, and/or various credit ratings within each sector. Credit indices are traded using credit default swaps with standardized terms including a fixed spread and standard maturity dates. An index credit default swap references all the names in the index, and if there is a default, the credit event is settled based on that name's weight in the index. The composition of the indices changes periodically, usually every six months, and for most indices, each name has an equal weight in the index. A Fund may use credit default swaps on credit indices to hedge a portfolio of credit default swaps or bonds which is less expensive than it would be to enter into many credit default swaps to achieve a similar effect. Credit-default swaps on indices are used for protecting investors owning bonds against default, and also to speculate on changes in credit quality.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swaps on corporate issues or sovereign issues of an emerging market country as of period end are reported on a schedule at the end of each Fund's Portfolio of Investments and serve as an indicator of the current status of the payment / performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. For credit default swaps on asset-based securities and credit indices, the quoted market prices and resulting values serve as the indicator of the current status of the payment/performance risk. Wider credit spreads and increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. The maximum potential amount of future payments (undiscounted) that a Fund as a seller of protection could be required to make under a credit default swap would be an amount equal to the notional amount of the agreement. Notional amounts of all credit default swaps outstanding at the end of the period, for which a Fund is the seller of protection, if any, are disclosed on a schedule following each Fund's Portfolio of Investments. These potential amounts would be partially offset by any recovery values of the respective referenced obligations, upfront payments received upon entering into the agreement, or net amounts received from the settlement of buy protection credit default swaps entered into by a Fund for the same referenced entity or entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit default swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Inflation Swap Agreements:*** In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on the same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rate over the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inflation swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Interest Rate Swap Agreements:*** Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest with respect to the notional amount of principal. Since interest rate swaps are individually negotiated, a Fund expects to achieve an acceptable degree of correlation between their respective portfolio investments and their interest rate positions. A Fund will enter into interest rate swaps only on a net basis, which means that the two payment streams are netted out, with the Fund receiving or paying, as the case may be, only the net amount of the two payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps do not involve the delivery of securities, other underlying assets or principal. Accordingly, the risk of loss with respect to interest rate swaps is limited to the net amount of interest payments that a Fund is contractually obligated to make. If the other party to an interest rate swap defaults, a Fund's risk of loss consists of the net discounted amount of interest payments that the Fund is contractually entitled to receive, if any. The use of interest rate swaps is a highly specialized activity which involves investment techniques and risks different from those associated with ordinary Fund securities transactions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swap contracts outstanding at the end of the period, if any, are reported on a schedule at the end of each Fund's Portfolio of Investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Risks of Entering into Swap Agreements:*** Risks to a Fund of entering into swaps, include credit risk, market risk, counterparty risk, liquidity risk and documentation risk. By entering into swap agreements, a Fund may be exposed to risk of potential loss due to unfavorable changes in interest rates, the price of the underlying security or index, or the underlying referenced asset's perceived or actual credit, that the counterparty may default on its obligation to perform or the possibility that there is no liquid market for these agreements. There is also the risk that the parties may disagree as to the meaning of contractual terms in the swap agreement. In addition, to the extent that a subadviser does not accurately analyze and predict the underlying economic factors influencing the value of the swap, a Fund may suffer a loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Master Agreements:** Certain Funds that hold derivative instruments and other financial instruments may be a party to ISDA (International Swaps and Derivatives Association, Inc.) Master Agreements or similar agreements ("Master Agreements") with certain counterparties that govern such instruments. Master Agreements may contain provisions regarding, among other things, the parties' general obligations, representations, agreements, collateral requirements, events of default and early termination. Collateral can be in the form of cash or securities as agreed to by a Fund and applicable counterparty. Collateral requirements are generally determined based on a Fund's net position with each counterparty. Master Agreements may also include certain provisions that require a Fund to post additional collateral upon the occurrence of certain events, such as when a Fund's net assets fall below a specified level. In addition, Master Agreements typically specify certain standard termination events, such as failure of a party to pay or deliver, credit support defaults and other events of default. Termination events applicable to a Fund may also occur upon a decline in a Fund's net assets below a specified level over a certain period of time. Additional termination events applicable to counterparties may occur upon a decline in a counterparty's long-term and short-term credit ratings below a specified level, or upon a decline in the ratings of a counterparty's credit support provider. Upon the occurrence of a termination event, the other party may elect to terminate early and cause settlement of all instruments outstanding pursuant to a particular Master Agreement, including the payment of any losses and costs resulting from such early termination, as reasonably determined by the terminating party. Any decision by one or more of a Fund's counterparties to elect early termination could cause the Fund to accelerate the payment of liabilities, which settlement amounts could be in excess of the amount of assets that are already posted as collateral. Typically, the Master Agreement will permit a single net

------

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited) — (continued)***

------

payment in the event of default. Note, however, that bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events. As a result, the early termination with respect to derivative instruments subject to Master Agreements that are in a net liability position could be material to a Fund's financial statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table represents the Fund's objectives for using derivative instruments for the period ended February 28, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Objectives for Using Derivatives** | **Objectives for Using Derivatives** | **Objectives for Using Derivatives** | **Objectives for Using Derivatives** | **Objectives for Using Derivatives** | **Objectives for Using Derivatives** | **Objectives for Using Derivatives** |
| **Fund** | **Futures** <br>**Contracts** <br>| **Forward** <br>**Foreign** <br>**Currency** <br>**Contracts**<br>| **Options** <br>**Contracts**<br>| **Inflation** <br>**Swap** <br>**Contracts**<br>| **Interest** <br>**Rate Swap** <br>**Contracts**<br>| **Credit** <br>**Default Swap** <br>**Contracts**<br>| **Contracts For** <br>**Difference** <br>**Swaps**<br>|
| Asset Allocation | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Core Bond | &nbsp;&nbsp; 1,<br> 2<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Dynamic Allocation | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Emerging Economies | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Global Strategy | &nbsp;&nbsp; 1,<br> 2<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 4,<br> 5<br>| &nbsp;&nbsp; - |
| Government Securities | &nbsp;&nbsp; 1,<br> 2<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; 1,<br> 2<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Growth | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| High Yield Bond | &nbsp;&nbsp; - | &nbsp;&nbsp; 3 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Inflation Protected | &nbsp;&nbsp; 1,<br> 2<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; - | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 2,<br> 5, 6<br>| &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| International Equities Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1 |
| International Socially Responsible | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1 |
| International Value | &nbsp;&nbsp; - | &nbsp;&nbsp; 3 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Large Cap Core | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Mid Cap Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1 |
| Nasdaq-100® Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Small Cap Growth | &nbsp;&nbsp; - | &nbsp;&nbsp; 3 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Small Cap Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 1 |
| Small Cap Value | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| Stock Index | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |
| U.S. Socially Responsible | &nbsp;&nbsp; 1 | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - |

---

------

(1) <br>

To manage exposures in certain securities markets.

(2) <br>

To manage interest rate risk and the duration of the portfolio.

(3) <br>

To manage foreign currency exchange rate risk.

(4) <br>

To manage credit risk.

(5) <br>

To manage against or gain exposure to certain securities and/or sectors.

(6) <br>

To manage inflation risk and the duration of the portfolio.

**Note 3 — Transactions with Affiliates**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transactions in shares of Underlying Funds and affiliated companies for the period ended February 28, 2026 are shown in the tables below.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ | **Aggressive Allocation Lifestyle Fund**^ |
| **Security** | **Income** | **Capital Gain** <br>**Distribution** <br>**Received**<br>| **Value at** <br>**May 31,** <br>**2025**<br>| **Cost of** <br>**Purchases†**<br>| **Proceeds** <br>**of Sales**<br>| **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Gain (Loss)**<br>| **Value at** <br>**February 28,** <br>**2026**<br>|
| **VALIC Company I** |  |  |  |  |  |  |  |  |
| Core Bond Fund | $— | $— | $153621251 | $14878786 | $17653123 | $1329957 | $9730626 | $161907497 |
| Emerging Economies Fund |  |  |  | 5438901 | 2266664 | 241931 | 567645 | 3981813 |
| High Yield Bond Fund |  |  | 7220156 |  |  |  | 529824 | 7749980 |
| International Equities Index Fund |  |  | 142594644 | 3780002 | 25367666 | 9703394 | 21806868 | 152517242 |
| Large Cap Core Fund |  |  |  | 100766175 | 1445382 | 24411 | 1099489 | 100444693 |
| Small Cap Growth Fund |  |  | 17765084 |  | 1271169 | 238844 | 2540753 | 19273512 |
| Small Cap Index Fund |  |  |  | 1914518 |  |  |  | 1914518 |
| Small Cap Value Fund |  |  | 16041958 |  | 3464739 | 585993 | 4315433 | 17478645 |
| Stock Index Fund |  |  | 237328605 | 2828741 | 123922293 | 40735546 | (3867353)<br>| 153103246 |
| Systematic Growth Fund |  |  | 67731592 | 5940778 | 6636014 | 1571441 | 6830138 | 75437935 |
| Systematic Value Fund |  |  | 64354597 | 1244260 | 11006198 | 2268663 | 9130921 | 65992243 |
|  | $— | $— | $706657887 | $136792161 | $193033248 | $56700180 | $52684344 | $759801324 |

---

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

 <br> <sup>†</sup> Includes reinvestment of distributions paid. <br> <sup>^</sup> Prior to September 29, 2025, the Fund was known as Aggressive Growth Lifestyle Fund.

------

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited) — (continued)***

------

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ | **Conservative Allocation Lifestyle Fund**^ |
| **Security** | **Income** | **Capital Gain** <br>**Distribution** <br>**Received**<br>| **Value at** <br>**May 31,** <br>**2025**<br>| **Cost of** <br>**Purchases†**<br>| **Proceeds** <br>**of Sales**<br>| **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Gain (Loss)**<br>| **Value at** <br>**February 28,** <br>**2026**<br>|
| **VALIC Company I** |  |  |  |  |  |  |  |  |
| Core Bond Fund | $— | $— | $172402374 | $5134399 | $13838439 | $(2076821)<br>| $14257742 | $175879255 |
| Emerging Economies Fund |  |  |  | 2056907 | 885299 | 94492 | 213804 | 1479904 |
| High Yield Bond Fund |  |  | 2870338 |  |  |  | 210629 | 3080967 |
| International Equities Index Fund |  |  | 27962238 | 198017 | 5767755 | 2028647 | 3894113 | 28315260 |
| Large Cap Core Fund |  |  |  | 17531880 |  |  | 204653 | 17736533 |
| Small Cap Growth Fund |  |  | 2830888 |  | 359372 | 85120 | 350255 | 2906891 |
| Small Cap Index Fund |  |  |  | 718877 |  |  |  | 718877 |
| Small Cap Value Fund |  |  | 2757979 |  | 497198 | 68359 | 771262 | 3100402 |
| Stock Index Fund |  |  | 43403344 | 905785 | 24090020 | 6594213 | 9379 | 26822701 |
| Systematic Growth Fund |  |  | 13292174 | 2131864 | 2203955 | 493092 | 1131577 | 14844752 |
| Systematic Value Fund |  |  | 11914355 | 357288 | 3652073 | 920633 | 1131351 | 10671554 |
|  | $— | $— | $277433690 | $29035017 | $51294111 | $8207735 | $22174765 | $285557096 |

---

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

 <br> <sup>†</sup> Includes reinvestment of distributions paid. <br> <sup>^</sup> Prior to September 29, 2025, the Fund was known as Conservative Growth Lifestyle Fund.

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** | **Dynamic Allocation Fund** |
| **Security** | **Income** | **Capital Gain** <br>**Distribution** <br>**Received**<br>| **Value at** <br>**May 31,** <br>**2025**<br>| **Cost of** <br>**Purchases†**<br>| **Proceeds** <br>**of Sales**<br>| **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Gain (Loss)**<br>| **Value at** <br>**February 28,** <br>**2026**<br>|
| **VALIC Company I** |  |  |  |  |  |  |  |  |
| Capital Appreciation Fund | $— | $— | $5967478 | $281632 | $4185090 | $1497030 | $(788020)<br>| $2773030 |
| Core Bond Fund |  |  | 16548595 | 12463800 | 5632565 | (506145)<br>| 1926818 | 24800503 |
| Dividend Value Fund |  |  | 8308626 | 446939 | 4138126 | 646399 | 577261 | 5841099 |
| Emerging Economies Fund |  |  | 302075 | 9719 | 357814 | 89327 | (43307)<br>|  |
| Global Real Estate Fund |  |  | 1435824 | 48596 | 1520569 | 87509 | (51360)<br>|  |
| Government Securities Fund |  |  | 5022076 | 381427 | 5558556 | (103720)<br>| 258773 |  |
| Growth Fund |  |  | 4974250 | 279396 | 2084396 | 875607 | (345338)<br>| 3699519 |
| High Yield Bond Fund |  |  | 933219 | 32398 | 1009866 | 25504 | 18745 |  |
| Inflation Protected Fund |  |  | 1439263 | 51836 | 1539297 | (159347)<br>| 207545 |  |
| International Equities Index Fund |  |  | 2323125 | 69655 | 2528855 | 498751 | (362676)<br>|  |
| International Government Bond Fund |  |  | 404879 | 16199 | 435369 | 17529 | (3238)<br>|  |
| International Growth Fund |  |  | 2320384 | 68035 | 2409718 | 274763 | (253464)<br>|  |
| International Opportunities Fund |  |  | 356724 | 9719 | 393556 | 27978 | (865)<br>|  |
| International Socially Responsible Fund |  |  | 1798421 | 53455 | 1951150 | 322024 | (222750)<br>|  |
| International Value Fund |  |  | 3530108 | 148106 | 2559077 | 551653 | 75810 | 1746600 |
| Large Cap Core Fund |  |  | 4470716 | 139310 | 418762 | (30975)<br>| 469892 | 4630181 |
| Mid Cap Index Fund |  |  | 1282397 | 40497 | 1436775 | (10715)<br>| 124596 |  |
| Mid Cap Strategic Growth Fund |  |  | 1655450 | 45357 | 1865455 | 421607 | (256959)<br>|  |
| Mid Cap Value Fund |  |  | 1415232 | 37257 | 1576202 | (10049)<br>| 133762 |  |
| Nasdaq-100 Index Fund |  |  |  | 6740009 | 970840 | 18711 | 83734 | 5871614 |
| Small Cap Growth Fund |  |  | 907317 | 27538 | 1025564 | 148465 | (57756)<br>|  |
| Small Cap Index Fund |  |  | 497584 | 16199 | 601690 | 77480 | 10427 |  |
| Small Cap Special Values Fund |  |  | 627265 | 17819 | 677450 | (63010)<br>| 95376 |  |
| Small Cap Value Fund |  |  | 212800 | 4860 | 251227 | 5702 | 27865 |  |
| Stock Index Fund |  |  | 14038828 | 24867668 | 7726482 | 2253149 | 856366 | 34289529 |
| Systematic Core Fund |  |  | 7873101 | 236503 | 9035207 | 2320954 | (1395351)<br>|  |
| Systematic Growth Fund |  |  | 3688445 | 4035104 | 1594283 | 438252 | (95587)<br>| 6471931 |
| Systematic Value Fund |  |  | 8380920 | 1822649 | 2225613 | 430157 | 1101925 | 9510038 |
| U.S. Socially Responsible Fund |  |  | 5352369 | 158749 | 6018272 | 620466 | (113312)<br>|  |
|  | $— | $— | $106067471 | $52550431 | $71727826 | $10765056 | $1978912 | $99634044 |

---

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

 <br> <sup>†</sup> Includes reinvestment of distributions paid.

------

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

**NOTES TO PORTFOLIO OF INVESTMENTS *— February 28, 2026 — (unaudited) — (continued)***

------

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ | **Moderate Allocation Lifestyle Fund**^ |
| **Security** | **Income** | **Capital Gain** <br>**Distribution** <br>**Received**<br>| **Value at** <br>**May 31,** <br>**2025**<br>| **Cost of** <br>**Purchases†**<br>| **Proceeds** <br>**of Sales**<br>| **Realized** <br>**Gain/(Loss)**<br>| **Change in** <br>**Unrealized** <br>**Gain (Loss)**<br>| **Value at** <br>**February 28,** <br>**2026**<br>|
| **VALIC Company I** |  |  |  |  |  |  |  |  |
| Core Bond Fund | $— | $— | $414191229 | $25308636 | $42038154 | $359909 | $29240753 | $427062373 |
| Emerging Economies Fund |  |  |  | 7371373 | 3130503 | 334132 | 778230 | 5353232 |
| High Yield Bond Fund |  |  | 10205600 |  |  |  | 748900 | 10954500 |
| International Equities Index Fund |  |  | 149347279 | 1937766 | 29298762 | 11155771 | 21072769 | 154214823 |
| Large Cap Core Fund |  |  |  | 99780226 | 1197289 | 31115 | 1151137 | 99765189 |
| Small Cap Growth Fund |  |  | 17637541 |  | 1888050 | 500768 | 2234602 | 18484861 |
| Small Cap Index Fund |  |  |  | 2596460 |  |  |  | 2596460 |
| Small Cap Value Fund |  |  | 17154726 |  | 3952775 | 793542 | 4457500 | 18452993 |
| Stock Index Fund |  |  | 244173565 | 1290857 | 130256003 | 42989496 | (5390229)<br>| 152807686 |
| Systematic Growth Fund |  |  | 69717946 | 7827514 | 9518528 | 2357458 | 6325507 | 76709897 |
| Systematic Value Fund |  |  | 64879953 | 1088048 | 14340414 | 3452897 | 7905816 | 62986300 |
|  | $— | $— | $987307839 | $147200880 | $235620478 | $61975088 | $68524985 | $1029388314 |

---

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

 <br> <sup>†</sup> Includes reinvestment of distributions paid. <br> <sup>^</sup> Prior to September 29, 2025, the Fund was known as Moderate Growth Lifestyle Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional information is available in the VALIC Company I's Annual and Semiannual financial statements which may be obtained without charge from the EDGAR database on the Securities and Exchange Commission's website at www.sec.gov.

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** VALIC Co I

- **b. Investment Company Act file number:** 811-03738

- **c. CIK number of Registrant:** 0000719423

- **d. LEI of Registrant:** 549300N3XZ1M1QABFI47

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

  - **Street Address 1:** 2919 ALLEN PARKWAY

  - **City:** HOUSTON

  - **State:** TX

  - **Foreign country:** US

  - **Zip / Postal Code:** 77019

  - **Telephone number:** 800-448-2542

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

- **a. Name of Series:** Small Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000070756

- **c. LEI of Series:** 549300CBSA7V41FZ3N09

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2026-02-28

**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:** $545439420.72

**Total Liabilities:** $2536266.95

**Net Assets:** $542903153.77

**Cash Not Reported:** $344049.98

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224903 | -1.61%               | 0.90%                | 2.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1398570.82              | $-9088982.37                               |
| Month 2  | $-3204444.25             | $7335153.48                                |
| Month 3  | $-1695429.54             | $12941916.96                               |

**Designated Index Information**

- **Index Name:** Russell 2000 Growth Index

- **Index Identifier:** Russell 2000 Growth Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ionis Pharmaceuticals Inc                                  | Ionis Pharmaceuticals Inc                                                   | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |     35875 | NS      | $2911256.25   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp                                             | Astronics Corp                                                              | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |     78144 | NS      | $6299969.28   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| OPENLANE Inc                                               | OPENLANE Inc                                                                | CUSIP: 48238T109<br>LEI: 5493004HKD20LBSG7D03 | Long             | EC               | CORP              | US        |    216027 | NS      | $6158929.77   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| US Physical Therapy Inc                                    | US Physical Therapy Inc                                                     | CUSIP: 90337L108<br>LEI: 529900KL1UXQYFIOMY96 | Long             | EC               | CORP              | US        |     28267 | NS      | $2345030.32   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Plexus Corp                                                | Plexus Corp                                                                 | CUSIP: 729132100<br>LEI: 549300W7HCBI5YT25I79 | Long             | EC               | CORP              | US        |     52375 | NS      | $10167558.75  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp                                  | Carpenter Technology Corp                                                   | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     19985 | NS      | $7955428.95   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED CAD / SOLD USD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $209.51       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Globalstar Inc                                             | Globalstar Inc                                                              | CUSIP: 378973507<br>LEI: 549300NEX8I0MSOW0R64 | Long             | EC               | CORP              | US        |     52179 | NS      | $3249186.33   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| Piper Sandler Cos                                          | Piper Sandler Cos                                                           | CUSIP: 724078100<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |     11542 | NS      | $3411238.10   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TransAlta Corp                                             | TransAlta Corp                                                              | CUSIP: 89346D107<br>LEI: 984500EE2ADD850F1C96 | Long             | EC               | CORP              | CA        |    393282 | NS      | $5405987.68   | 1.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Protagonist Therapeutics Inc                               | Protagonist Therapeutics Inc                                                | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44088 | NS      | $4059623.04   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Omada Health Inc                                           | Omada Health Inc                                                            | CUSIP: 68170A108<br>LEI: 5299008WYNYU33NFKF88 | Long             | EC               | CORP              | US        |    214089 | NS      | $2629012.92   | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-1475.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vera Therapeutics Inc                                      | Vera Therapeutics Inc                                                       | CUSIP: 92337R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62712 | NS      | $2558022.48   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Colliers International Group Inc                           | Colliers International Group Inc                                            | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |     29145 | NS      | $3460385.85   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirion Technologies Inc                                    | Mirion Technologies Inc                                                     | CUSIP: 60471A101<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | EC               | CORP              | US        |    164049 | NS      | $3545098.89   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPRO GROUP HOLDINGS NV                                    | Expro Group Holdings NV                                                     | CUSIP: 000000000<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | NL        |    135121 | NS      | $2413261.06   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ridgepost Capital Inc                                      | Ridgepost Capital Inc                                                       | CUSIP: 69376K106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    238833 | NS      | $1927382.31   | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| Newamsterdam Pharma Co NV                                  | Newamsterdam Pharma Co NV                                                   | CUSIP: 000000000<br>LEI: 984500B6549TF6E14D36 | Long             | EC               | CORP              | NL        |     30031 | NS      | $1064899.26   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Evommune Inc                                               | Evommune Inc                                                                | CUSIP: 30054Y107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38499 | NS      | $1000974.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE Inc                                                | SI-BONE Inc                                                                 | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |    212956 | NS      | $3305077.12   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Trex Co Inc                                                | Trex Co Inc                                                                 | CUSIP: 89531P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104515 | NS      | $4329011.30   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-768.33      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RBC Bearings Inc                                           | RBC Bearings Inc                                                            | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16836 | NS      | $9696189.12   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| UroGen Pharma Ltd                                          | UroGen Pharma Ltd                                                           | CUSIP: 000000000<br>LEI: 549300C0YCX7CG2G5D50 | Long             | EC               | CORP              | IL        |    100880 | NS      | $2189096.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| Hamilton Lane Inc                                          | Hamilton Lane Inc                                                           | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |     34723 | NS      | $3643831.62   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Checkr  Inc.                                               | CHECKR INC CVT PFD SR C PP                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8994 | NS      | $72941.34     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UFP Technologies Inc                                       | UFP Technologies Inc                                                        | CUSIP: 902673102<br>LEI: 549300RJ8LY41HS70C91 | Long             | EC               | CORP              | US        |      9464 | NS      | $1992929.12   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SiteOne Landscape Supply Inc                               | SiteOne Landscape Supply Inc                                                | CUSIP: 82982L103<br>LEI: 5299008LX7SBD4HIAU03 | Long             | EC               | CORP              | US        |     31258 | NS      | $4466455.62   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MACOM Technology Solutions Holdings Inc                    | MACOM Technology Solutions Holdings Inc                                     | CUSIP: 55405Y100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21911 | NS      | $5436557.32   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Miami International Holdings Inc                           | Miami International Holdings Inc                                            | CUSIP: 59356Q108<br>LEI: 254900TREUDBWGLAP788 | Long             | EC               | CORP              | US        |     80872 | NS      | $3445147.20   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc                                         | Planet Fitness Inc                                                          | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     47691 | NS      | $3917815.65   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holdings Inc                        | Ollie's Bargain Outlet Holdings Inc                                         | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |     20205 | NS      | $2163955.50   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $3055.21      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Global Advisors                               | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |   2005306 | NS      | $2005306.50   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED CAD / SOLD USD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $1628.27      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mineralys Therapeutics Inc                                 | Mineralys Therapeutics Inc                                                  | CUSIP: 603170101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60199 | NS      | $1761422.74   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-42692.09    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CONTRA AKERO THERAPEUT                                     | CONTRA AKERO THERAPEUT                                                      | CUSIP: 009CVR044<br>LEI: 549300SI3KG74LBE2955 | N/A              | DE               |  | US        |     49444 | NS      | $32138.60     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Applied Industrial Technologies Inc                        | Applied Industrial Technologies Inc                                         | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     14071 | NS      | $3976183.18   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc                               | National Vision Holdings Inc                                                | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    183277 | NS      | $4942980.69   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Herc Holdings Inc                                          | Herc Holdings Inc                                                           | CUSIP: 42704L104<br>LEI: 549300TP80QLITMSBP82 | Long             | EC               | CORP              | US        |     44148 | NS      | $6171448.92   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Triumph Financial Inc                                      | Triumph Financial Inc                                                       | CUSIP: 89679E300<br>LEI: 5493003RNRMEVYDZ1Q52 | Long             | EC               | CORP              | US        |     33779 | NS      | $1886894.94   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL RESILIENCE SER B CVT                              | NATIONAL RESILIENCE SER B CVT                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |      5496 | NS      | $82440.00     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Wayfair Inc                                                | Wayfair Inc                                                                 | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |     51638 | NS      | $3941528.54   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEXE SERIES C CVT PFD STK                                 | FLEXE SERIES C CVT PFD STK                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4643 | NS      | $13557.56     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pediatrix Medical Group Inc                                | Pediatrix Medical Group Inc                                                 | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    131686 | NS      | $2613967.10   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                                     | Boot Barn Holdings Inc                                                      | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     33562 | NS      | $6350601.64   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corp                                          | Talen Energy Corp                                                           | CUSIP: 87422Q109<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | EC               | CORP              | US        |     15442 | NS      | $5728518.74   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SSR Mining Inc                                             | SSR Mining Inc                                                              | CUSIP: 784730103<br>LEI: 549300JD2KR7AB9DYJ38 | Long             | EC               | CORP              | CA        |    169051 | NS      | $5441751.69   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Madrigal Pharmaceuticals Inc                               | Madrigal Pharmaceuticals Inc                                                | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |     13840 | NS      | $5978880.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                                                   | Oklo Inc                                                                    | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20629 | NS      | $1298595.55   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Checkr  Inc.                                               | CHECKR  INC. PP                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5868 | NS      | $47589.48     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Pegasystems Inc                                            | Pegasystems Inc                                                             | CUSIP: 705573103<br>LEI: 549300FMCOKPL06FYN26 | Long             | EC               | CORP              | US        |     42556 | NS      | $1860973.88   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc                                    | Viking Therapeutics Inc                                                     | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |     24243 | NS      | $820383.12    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| Revolution Medicines Inc                                   | Revolution Medicines Inc                                                    | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     37123 | NS      | $3787288.46   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp                                         | Regal Rexnord Corp                                                          | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     31188 | NS      | $6891924.24   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Premium Brands Holdings Corp                               | Premium Brands Holdings Corp                                                | CUSIP: 74061A108<br>LEI: 529900F5EXPGUY8WV366 | Long             | EC               | CORP              | CA        |     28779 | NS      | $2236620.20   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc                                      | Alphatec Holdings Inc                                                       | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |    521589 | NS      | $7104042.18   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Celldex Therapeutics Inc                                   | Celldex Therapeutics Inc                                                    | CUSIP: 15117B202<br>LEI: 529900F018DMYWH38923 | Long             | EC               | CORP              | US        |     62296 | NS      | $1874486.64   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp                                      | Twist Bioscience Corp                                                       | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |     44900 | NS      | $2106708.00   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| RealReal Inc/The                                           | RealReal Inc/The                                                            | CUSIP: 88339P101<br>LEI: 549300O00VUGT4H1PE90 | Long             | EC               | CORP              | US        |    196881 | NS      | $2413761.06   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORP                                       | SOUTHSTATE BANK CORP                                                        | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     29222 | NS      | $2883334.74   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Bancorp Inc/The                                            | Bancorp Inc/The                                                             | CUSIP: 05969A105<br>LEI: 894500FP2ICT1B019Y71 | Long             | EC               | CORP              | US        |     77712 | NS      | $4079102.88   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Hinge Health Inc                                           | Hinge Health Inc                                                            | CUSIP: 433313103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81462 | NS      | $3483315.12   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| HAUL HUB INC.                                              | HAUL HUB INC.                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      2168 | NS      | $910.56       | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| American Healthcare REIT Inc                               | American Healthcare REIT Inc                                                | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |     68179 | NS      | $3561670.96   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Titan America SA                                           | Titan America SA                                                            | CUSIP: 000000000<br>LEI: 9845007APCB6462D6C46 | Long             | EC               | CORP              | BE        |    209541 | NS      | $3796882.92   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corp                                             | Flowserve Corp                                                              | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     60108 | NS      | $5320760.16   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                                                | Magnite Inc                                                                 | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |    317855 | NS      | $4329185.10   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunswick Corp/DE                                          | Brunswick Corp/DE                                                           | CUSIP: 117043109<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EC               | CORP              | US        |     31981 | NS      | $2546327.22   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Alaska Air Group Inc                                       | Alaska Air Group Inc                                                        | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |     61753 | NS      | $3186454.80   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Riot Platforms Inc                                         | Riot Platforms Inc                                                          | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |    167220 | NS      | $2724013.80   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $336.60       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bowhead Specialty Holdings Inc                             | Bowhead Specialty Holdings Inc                                              | CUSIP: 10240L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    112503 | NS      | $2849700.99   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Centessa Pharmaceuticals PLC                               | Centessa Pharmaceuticals PLC                                                | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |    100112 | NS      | $2689008.32   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                                             | PBF Energy Inc                                                              | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |    141525 | NS      | $5038290.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ATI Inc                                                    | ATI Inc                                                                     | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     60288 | NS      | $9862513.92   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| HCI Group Inc                                              | HCI Group Inc                                                               | CUSIP: 40416E103<br>LEI: 549300CZF7EZJH0MPH74 | Long             | EC               | CORP              | US        |     17584 | NS      | $3102169.28   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-555.41      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Construction Partners Inc                                  | Construction Partners Inc                                                   | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |     74925 | NS      | $10067672.25  | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Callaway Golf Co                                           | Callaway Golf Co                                                            | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |    181248 | NS      | $2548346.88   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics Inc                                         | ADMA Biologics Inc                                                          | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    328342 | NS      | $5112284.94   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-816.96      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| First Advantage Corp                                       | First Advantage Corp                                                        | CUSIP: 31846B108<br>LEI: 549300RNJ0PXU8FP7D06 | Long             | EC               | CORP              | US        |    250162 | NS      | $2879364.62   | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| CHECKR INC CVT PFD SR D PP                                 | CHECKR INC CVT PFD SR D PP                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     12252 | NS      | $99363.72     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HONOR TECH INC. SERIES D PP                                | HONOR TECH INC. SERIES D PP                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     43123 | NS      | $59078.51     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Phreesia Inc                                               | Phreesia Inc                                                                | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     86272 | NS      | $1063733.76   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc                             | Fortune Brands Innovations Inc                                              | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     59980 | NS      | $3259313.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ensign Group Inc/The                                       | Ensign Group Inc/The                                                        | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     32147 | NS      | $6884922.99   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-1243.86     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chime Financial Inc                                        | Chime Financial Inc                                                         | CUSIP: 16935C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    127155 | NS      | $2813940.15   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NURO, INC.                                                 | NURO, INC.                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      6234 | NS      | $94133.40     | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Vaxcyte Inc                                                | Vaxcyte Inc                                                                 | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     28906 | NS      | $1784656.44   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AAR Corp                                                   | AAR Corp                                                                    | CUSIP: 000361105<br>LEI: MP76T5YQX3YK5VVAQ802 | Long             | EC               | CORP              | US        |     61018 | NS      | $7149479.06   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp                                    | CECO Environmental Corp                                                     | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |    123220 | NS      | $7448649.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: —       |
| Cognex Corp                                                | Cognex Corp                                                                 | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     72172 | NS      | $3926156.80   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Littelfuse Inc                                             | Littelfuse Inc                                                              | CUSIP: 537008104<br>LEI: 549300MY7HLQFYTPCX75 | Long             | EC               | CORP              | US        |     16305 | NS      | $5746860.30   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Netskope Inc                                               | Netskope Inc                                                                | CUSIP: 64119N608<br>LEI: 254900CS525VJG6KO570 | Long             | EC               | CORP              | US        |     17859 | NS      | $192877.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc                                | Sterling Infrastructure Inc                                                 | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |     25282 | NS      | $10823982.66  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Verra Mobility Corp                                        | Verra Mobility Corp                                                         | CUSIP: 92511U102<br>LEI: 549300XX5EKGLR0M4152 | Long             | EC               | CORP              | US        |    146901 | NS      | $2454715.71   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                                       | Bridgebio Pharma Inc                                                        | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |     93295 | NS      | $6202251.60   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                                               | Nuvalent Inc                                                                | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32056 | NS      | $3268109.20   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpaWorld Holdings Ltd                                   | OneSpaWorld Holdings Ltd                                                    | CUSIP: 000000000<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |    109922 | NS      | $2366620.66   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                                  | Xenon Pharmaceuticals Inc                                                   | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |     62142 | NS      | $2686398.66   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-1391.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Agilysys Inc                                               | Agilysys Inc                                                                | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     63791 | NS      | $4603796.47   | 0.85%             |  |  |  | No            |                  1 | On Loan: —       |
| Fabrinet                                                   | Fabrinet                                                                    | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |     12617 | NS      | $6884213.71   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMERS BUSINESS NETWORK INC                               | FARMERS BUSINESS NETWORK INC                                                | CUSIP: 000000000<br>LEI: 5493003KO0NA75DM0Y81 | Long             | EC               | CORP              | US        |      6066 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Centrus Energy Corp                                        | Centrus Energy Corp                                                         | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |     10514 | NS      | $2130031.26   | 0.39%             |  |  |  | No            |                  1 | On Loan: —       |
| Arcellx Inc                                                | Arcellx Inc                                                                 | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33289 | NS      | $3787955.31   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                                       | Hayward Holdings Inc                                                        | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    483521 | NS      | $7736336.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc                                      | Veeco Instruments Inc                                                       | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     51376 | NS      | $1570050.56   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| KARDIUM SERIES D6 CVT PFD STK                              | KARDIUM SERIES D6 CVT PFD STK                                               | CUSIP: 000000000<br>LEI: 549300YO4UGSBRMWPN13 | Long             | EP               | CORP              | US        |     58843 | NS      | $60237.58     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Credo Technology Group Holding Ltd                         | Credo Technology Group Holding Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     42733 | NS      | $4797633.91   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc                                  | Edgewise Therapeutics Inc                                                   | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     95492 | NS      | $2906776.48   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED CAD / SOLD USD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $2432.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Etoro Group Ltd                                            | Etoro Group Ltd                                                             | CUSIP: 000000000<br>LEI: 213800XPRPJK2X5QRG86 | Long             | EC               | CORP              | VG        |     69350 | NS      | $2126964.50   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $1549.99      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SILA NANO SER F CVT PFD                                    | SILA NANO SER F CVT PFD                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      2608 | NS      | $28322.88     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Elastic NV                                                 | Elastic NV                                                                  | CUSIP: 000000000<br>LEI: 2549003I48WHHH937I59 | Long             | EC               | CORP              | NL        |     30937 | NS      | $1610889.59   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                                | Novanta Inc                                                                 | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     46498 | NS      | $6250726.14   | 1.15%             |  |  |  | No            |                  1 | On Loan: —       |
| MKS Inc                                                    | MKS Inc                                                                     | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     22965 | NS      | $5614023.90   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                                                  | Itron Inc                                                                   | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |     23442 | NS      | $2202375.90   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines Inc                             | Praxis Precision Medicines Inc                                              | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9250 | NS      | $3114937.50   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                                                 | Impinj Inc                                                                  | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |     32049 | NS      | $3931130.34   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcutis Biotherapeutics Inc                                | Arcutis Biotherapeutics Inc                                                 | CUSIP: 03969K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    121767 | NS      | $3284055.99   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc                                        | Core Scientific Inc                                                         | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |    209786 | NS      | $3560068.42   | 0.66%             |  |  |  | No            |                  1 | On Loan: —       |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-2089.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RadNet Inc                                                 | RadNet Inc                                                                  | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     52967 | NS      | $3697626.27   | 0.68%             |  |  |  | No            |                  1 | On Loan: —       |
| Descartes Systems Group Inc/The                            | Descartes Systems Group Inc/The                                             | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |     25092 | NS      | $1662345.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp                                          | FirstService Corp                                                           | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |     24056 | NS      | $3790621.05   | 0.70%             |  |  |  | No            |                  1 | On Loan: —       |
| Coastal Financial Corp/WA                                  | Coastal Financial Corp/WA                                                   | CUSIP: 19046P209<br>LEI: 549300XG5L36T6IU0B47 | Long             | EC               | CORP              | US        |     32510 | NS      | $2411916.90   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Biosciences Inc                                     | Cogent Biosciences Inc                                                      | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74266 | NS      | $2885234.10   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-2672.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HealthEquity Inc                                           | HealthEquity Inc                                                            | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     59614 | NS      | $4559874.86   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Below Inc                                             | Five Below Inc                                                              | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |     30496 | NS      | $6816770.88   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc                              | Crinetics Pharmaceuticals Inc                                               | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     78246 | NS      | $3215910.60   | 0.59%             |  |  |  | No            |                  1 | On Loan: —       |
| Silicon Laboratories Inc                                   | Silicon Laboratories Inc                                                    | CUSIP: 826919102<br>LEI: 4PRDF8Q9TDHRVZKZSZ47 | Long             | EC               | CORP              | US        |     44014 | NS      | $9002183.42   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                                                | SiTime Corp                                                                 | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15563 | NS      | $6192206.44   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED CAD / SOLD USD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $3050.42      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Life Time Group Holdings Inc                               | Life Time Group Holdings Inc                                                | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    181426 | NS      | $4898502.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| PriceSmart Inc                                             | PriceSmart Inc                                                              | CUSIP: 741511109<br>LEI: 549300JVYOSTGVSDZS46 | Long             | EC               | CORP              | US        |     25086 | NS      | $3878797.32   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics Inc                                           | Cytokinetics Inc                                                            | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     37473 | NS      | $2331570.06   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED CAD / SOLD USD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $4211.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FARMERS BUSINESS NETWORK INC                               | FARMERS BUSINESS NETWORK INC                                                | CUSIP: 000000000<br>LEI: 5493003KO0NA75DM0Y81 | Long             | EP               | CORP              | US        |      2221 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $-587.84      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| New York Times Co/The                                      | New York Times Co/The                                                       | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |     54827 | NS      | $4374646.33   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Enova International Inc                                    | Enova International Inc                                                     | CUSIP: 29357K103<br>LEI: 549300O8XOCQSB49UO63 | Long             | EC               | CORP              | US        |     20688 | NS      | $2876666.40   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                                | Hexcel Corp                                                                 | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |    101792 | NS      | $9435100.48   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| ESC NII HLDGS INC BE                                       | ESC NII HLDGS INC BE                                                        | CUSIP: 629ESC013<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3000 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Encompass Health Corp                                      | Encompass Health Corp                                                       | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     50297 | NS      | $5426040.36   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                                                   | Dave Inc                                                                    | CUSIP: 23834J201<br>LEI: 25490061SUVXCW51RZ82 | Long             | EC               | CORP              | US        |     24810 | NS      | $4795028.70   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Forgent Power Solutions Inc                                | Forgent Power Solutions Inc                                                 | CUSIP: 34631F102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65870 | NS      | $2265269.30   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                                               | Freshpet Inc                                                                | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |     33889 | NS      | $2861926.05   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Klaviyo Inc                                                | Klaviyo Inc                                                                 | CUSIP: 49845K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    193265 | NS      | $3364743.65   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                                               | Alkermes PLC                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     99075 | NS      | $2982157.50   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED USD / SOLD CAD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |         1 | NC      | $2519.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PACS Group Inc                                             | PACS Group Inc                                                              | CUSIP: 69380Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47072 | NS      | $1718598.72   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp                                 | Lattice Semiconductor Corp                                                  | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     38417 | NS      | $3673433.54   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp                                  | Scholar Rock Holding Corp                                                   | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |     65933 | NS      | $2918853.91   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                                            | Q2 Holdings Inc                                                             | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |     90072 | NS      | $4334264.64   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | State Street Institutional US Government Money Market Fund                  | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | EC               | RF                | US        |   7229401 | NS      | $7229400.52   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc                                        | Onto Innovation Inc                                                         | CUSIP: 683344105<br>LEI: 254900RXZVN73CHOO062 | Long             | EC               | CORP              | US        |     11633 | NS      | $2511448.37   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                                                  | Argan Inc                                                                   | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |     14079 | NS      | $6353148.75   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                                      | Element Solutions Inc                                                       | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |    189787 | NS      | $6659625.83   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank NA                                                | PURCHASED CAD / SOLD USD                                                    | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CA        |         1 | NC      | $-485.38      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Karman Holdings Inc                                        | Karman Holdings Inc                                                         | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51488 | NS      | $4536607.68   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-27

**Name of Applicant:** VALIC Co I

**Signature:** Donna McManus

**Name of Signer:** Donna McManus

**Title:** Treasurer