# EDGAR Filing Document

**Accession Number:** 0000809707
**File Stem:** 0002071691-26-007554
**Filing Date:** 2026-3
**Character Count:** 74498
**Document Hash:** fbb24105ae9aadb818466787b775269e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-007554.hdr.sgml**: 20260327

**ACCESSION NUMBER**: 0002071691-26-007554

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260327

**DATE AS OF CHANGE**: 20260327

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Investors Securities Trust
- **CENTRAL INDEX KEY:** 0000809707

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04986
- **FILM NUMBER:** 26805957

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2200

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN INVESTORS SECURITIES TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Franklin Managed Income Fund (Series ID: S000012705)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000034238 | Class A       | FBLAX           |
| C000034239 | Class C       | FBMCX           |
| C000034240 | Class R       | FBFQX           |
| C000034241 | Advisor Class | FBFZX           |
| C000128884 | Class R6      | FBFRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Franklin Investors Securities Trust

- **b. Investment Company Act file number:** 811-04986

- **c. CIK number of Registrant:** 0000809707

- **d. LEI of Registrant:** 549300XUGIR9DEQFV548

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

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

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

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

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

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

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

- **b. EDGAR series identifier (if any):** S000012705

- **c. LEI of Series:** XM9TFFPJNQZE8D26W802

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $3463372355.82

**Total Liabilities:** $12632539.95

**Net Assets:** $3450739815.87

**Delayed Delivery Securities:** $10000000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** -25668.76000000 | **5-Year:** -277169.67000000 | **10-Year:** -215191.14000000 | **30-Year:** -394528.12000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000034241 | 2.12%                | 0.43%                | 3.78%                |
| Class ID C000034240 | 2.00%                | 0.46%                | 3.74%                |
| Class ID C000034239 | 1.98%                | 0.35%                | 3.67%                |
| Class ID C000034238 | 2.02%                | 0.49%                | 3.69%                |
| Class ID C000128884 | 2.04%                | 0.43%                | 3.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1784995.55              | $55309732.09                               |
| Month 2  | $24349611.06             | $-18238489.38                              |
| Month 3  | $38057591.73             | $78337098.12                               |

**Designated Index Information**

- **Index Name:** ICE BofA Corp. & High Yield + Barclays US Agg + MSCI USA High Div. Yield Index

- **Index Identifier:** HB10266

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3142J6BU6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   4606257 | PA      | $4716514.91   | 0.14%             | 2055-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                            | Oracle Corp.                                                            | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |     50000 | NS      | $8229000.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell plc                                                               | Shell plc                                                               | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    250000 | NS      | $19257500.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Corners Funding Trust III                                          | Five Corners Funding Trust III                                          | CUSIP: 33830GAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10570376.50  | 0.31%             | 2033-02-15      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                    | GNMA II, Single-family, 30 Year                                         | CUSIP: 3618N5GP8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  82305455 | PA      | $83417349.02  | 2.42%             | 2055-02-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp.                                                       | Exxon Mobil Corp.                                                       | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    400000 | NS      | $56560000.00  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd.                                                               | Flex Ltd.                                                               | CUSIP: 33938XAB1<br>LEI: 549300EAQH74YHD07T53 | Long             | DBT              | CORP              | SG        |  20000000 | PA      | $20282571.60  | 0.59%             | 2030-05-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWMY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   8622286 | PA      | $8750668.07   | 0.25%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Regal Rexnord Corp.                                                     | Regal Rexnord Corp.                                                     | CUSIP: 758750AM5<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20736500.60  | 0.60%             | 2028-04-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Ingersoll Rand, Inc.                                                    | Ingersoll Rand, Inc.                                                    | CUSIP: 45687VAB2<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $21126223.60  | 0.61%             | 2033-08-14      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Exxon Mobil Corp.                         | Mizuho Markets Cayman LP into Exxon Mobil Corp.                         | CUSIP: 60701E246<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |    130000 | NS      | $16379669.81  | 0.47%             | 2026-04-07      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                    | American Tower Corp.                                                    | CUSIP: 03027XCF5<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10683844.40  | 0.31%             | 2033-11-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| General Motors Co.                                                      | General Motors Co.                                                      | CUSIP: 37045VAZ3<br>LEI: 54930070NSV60J38I987 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15679960.50  | 0.45%             | 2032-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                    | GNMA II, Single-family, 30 Year                                         | CUSIP: 3618N5PJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  12361973 | PA      | $12511922.53  | 0.36%             | 2055-06-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| International Business Machines Corp.                                   | International Business Machines Corp.                                   | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |    100000 | NS      | $30670000.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                                                     | Fifth Third Bancorp                                                     | CUSIP: 316773DK3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10518032.60  | 0.30%             | 2029-07-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWHT3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  40704665 | PA      | $41420700.30  | 1.20%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                         | Goldman Sachs Group, Inc. (The)                                         | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $11077779.10  | 0.32%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                        | Boeing Co. (The)                                                        | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |     40000 | NS      | $9348800.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp.                                                    | Carrier Global Corp.                                                    | CUSIP: 14448CBC7<br>LEI: 549300JE3W6CWY2NAN77 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $21410152.80  | 0.62%             | 2034-03-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Barclays plc                                                            | Barclays plc                                                            | CUSIP: 06738ECD5<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  15000000 | PA      | $15831390.45  | 0.46%             | 2028-11-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Edison International                                                    | Edison International                                                    | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |    175000 | NS      | $10899000.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines, Inc. / SkyMiles IP Ltd.                                | Delta Air Lines, Inc. / SkyMiles IP Ltd.                                | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22916667 | PA      | $23096877.15  | 0.67%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Crown Castle, Inc.                                                      | Crown Castle, Inc.                                                      | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10107880.40  | 0.29%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                                       | Johnson & Johnson                                                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    175000 | NS      | $39768750.00  | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co., Inc.                                                       | Merck & Co., Inc.                                                       | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    425000 | NS      | $46864750.00  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                          | Morgan Stanley                                                          | CUSIP: 61747YEY7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $16371460.80  | 0.47%             | 2033-10-18      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada into Texas Instruments, Inc.                       | Royal Bank of Canada into Texas Instruments, Inc.                       | CUSIP: N/A<br>LEI: ES7IP3U3RHIGC71XBU11       | Long             | SN               | CORP              | CA        |     68000 | NS      | $14603900.79  | 0.42%             | 2026-07-21      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Pfizer, Inc.                                                            | Pfizer, Inc.                                                            | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    750000 | NS      | $19830000.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group, Inc. (The)                                | PNC Financial Services Group, Inc. (The)                                | CUSIP: 693475BJ3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10769347.50  | 0.31%             | 2033-10-28      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Pilgrim's Pride Corp.                                                   | Pilgrim's Pride Corp.                                                   | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |  21000000 | PA      | $20487377.40  | 0.59%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                         | Citigroup, Inc.                                                         | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10886649.10  | 0.32%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.                                             | United Parcel Service, Inc., Class B                                    | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |    175000 | NS      | $18588500.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Merrill Lynch BV into UnitedHealth Group, Inc.                          | Merrill Lynch BV into UnitedHealth Group, Inc.                          | CUSIP: N/A<br>LEI: 549300RQ1D1WIE085245       | Long             | SN               | CORP              | NL        |     55000 | NS      | $16090943.31  | 0.47%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Viatris, Inc.                                                           | Viatris, Inc.                                                           | CUSIP: 92556VAD8<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $18331526.00  | 0.53%             | 2030-06-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Johnson Controls International plc                                      | Johnson Controls International plc                                      | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | IE        |    200000 | NS      | $23852000.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                    | JPMorgan Chase & Co.                                                    | CUSIP: 46647PDY9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10914441.40  | 0.32%             | 2034-10-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                    | GNMA II, Single-family, 30 Year                                         | CUSIP: 3618N5MQ9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9699999 | PA      | $9817658.80   | 0.28%             | 2055-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                              | US Bancorp                                                              | CUSIP: 91159HJJ0<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10684213.80  | 0.31%             | 2033-10-21      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Home Depot, Inc. (The)                                                  | Home Depot, Inc. (The)                                                  | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    150000 | NS      | $56188500.00  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie, Inc.                                                            | AbbVie, Inc.                                                            | CUSIP: 00287YCY3<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $14758920.90  | 0.43%             | 2035-03-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Barclays Bank plc into Micron Technology, Inc.                          | Barclays Bank plc into Micron Technology, Inc.                          | CUSIP: N/A<br>LEI: G5GSEF7VJP5I7OUK5573       | Long             | SN               | CORP              | GB        |     85000 | NS      | $12692949.02  | 0.37%             | 2026-09-08      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings | JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings | CUSIP: 47214BAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |  15000000 | PA      | $16546770.00  | 0.48%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ashtead Capital, Inc.                                                   | Ashtead Capital, Inc.                                                   | CUSIP: 045054AR4<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10547700.60  | 0.31%             | 2033-10-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings | JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings | CUSIP: 46590XAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |   5000000 | PA      | $4744837.50   | 0.14%             | 2031-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                            | Pacific Gas and Electric Co.                                            | CUSIP: 694308KJ5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10608268.30  | 0.31%             | 2033-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                    | FNMA, 30 Year                                                           | CUSIP: 31418ER93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  32433814 | PA      | $33494775.36  | 0.97%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Albemarle Corp.                                                         | Albemarle Corp.                                                         | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |    280000 | NS      | $19415200.00  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                                      | Southern Co. (The)                                                      | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |    500000 | NS      | $44655000.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                    | FNMA, 30 Year                                                           | CUSIP: 31418FED5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9390470 | PA      | $9530289.26   | 0.28%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MetLife, Inc.                                                           | MetLife, Inc.                                                           | CUSIP: 59156RAP3<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10497850.00  | 0.30%             | 2036-12-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| TotalEnergies SE                                                        | TotalEnergies SE                                                        | CUSIP: N/A<br>LEI: 529900S21EQ1BO4ESM68       | Long             | EC               | CORP              | FR        |    275000 | NS      | $19910000.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca plc                                                         | AstraZeneca plc                                                         | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    180000 | NS      | $16698600.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos., Inc. (The)                                               | Williams Cos., Inc. (The)                                               | CUSIP: 969457CJ7<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20919598.20  | 0.61%             | 2033-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                                        | NRG Energy, Inc.                                                        | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $11010970.00  | 0.32%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Pacific Gas and Electric Co.                                            | Pacific Gas and Electric Co.                                            | CUSIP: 694308JM0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19953367.20  | 0.58%             | 2030-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                             | Capital One Financial Corp.                                             | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10468919.10  | 0.30%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWG80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  14771670 | PA      | $14834518.22  | 0.43%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                                     | Abbott Laboratories                                                     | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    250000 | NS      | $27325000.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                         | Goldman Sachs Group, Inc. (The)                                         | CUSIP: 38145GAU4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9910542.30   | 0.29%             | 2041-02-02      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Medtronic plc                                                           | Medtronic plc                                                           | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |    125000 | NS      | $12870000.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Merrill Lynch BV into Microsoft Corp.                                   | Merrill Lynch BV into Microsoft Corp.                                   | CUSIP: 59027W328<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |     40000 | NS      | $17055796.52  | 0.49%             | 2026-03-09      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Air Products and Chemicals, Inc.                                        | Air Products and Chemicals, Inc.                                        | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |    140000 | NS      | $38150000.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada into Microchip Technology, Inc.                    | Royal Bank of Canada into Microchip Technology, Inc.                    | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    355000 | NS      | $20388712.14  | 0.59%             | 2026-05-05      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Philip Morris International, Inc.                                       | Philip Morris International, Inc.                                       | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |    150000 | NS      | $26916000.00  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp.                                                           | Comcast Corp., Class A                                                  | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    800000 | NS      | $23800000.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                                | U.S. Treasury Bonds                                                     | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  60000000 | PA      | $58673437.20  | 1.70%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United Rentals North America, Inc.                                      | United Rentals North America, Inc.                                      | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |  22500000 | PA      | $23073480.00  | 0.67%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                    | GNMA II, Single-family, 30 Year                                         | CUSIP: 3618N56K0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  16600000 | PA      | $17029636.39  | 0.49%             | 2056-01-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Freeport-McMoRan, Inc.                            | Merrill Lynch BV into Freeport-McMoRan, Inc.                            | CUSIP: 59027W351<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    805000 | NS      | $36379713.12  | 1.05%             | 2026-05-12      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWNK5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  11569285 | PA      | $11741545.62  | 0.34%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                              | US Bancorp                                                              | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |    250000 | NS      | $14027500.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                                                | U.S. Treasury Bonds                                                     | CUSIP: 912803HD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 265000000 | PA      | $64438846.90  | 1.87%             | 2054-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                                                   | Bank of America Corp.                                                   | CUSIP: 06051GLU1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15937365.60  | 0.46%             | 2034-09-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Cisco Systems, Inc.                                                     | Cisco Systems, Inc.                                                     | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    525000 | NS      | $41118000.00  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                                                         | Starbucks Corp.                                                         | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    150000 | NS      | $13792500.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Chemical Co. (The)                                                  | Dow Chemical Co. (The)                                                  | CUSIP: 260543DG5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10618877.00  | 0.31%             | 2033-03-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| PepsiCo, Inc.                                                           | PepsiCo, Inc.                                                           | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    350000 | NS      | $53770500.00  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashtead Capital, Inc.                                                   | Ashtead Capital, Inc.                                                   | CUSIP: 04505AAA7<br>LEI: 213800J1134IW58IC398 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15554891.55  | 0.45%             | 2032-08-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan, Inc.                                                  | Freeport-McMoRan, Inc.                                                  | CUSIP: 35671DCH6<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15123055.95  | 0.44%             | 2030-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Oracle Corp.                                                            | Oracle Corp.                                                            | CUSIP: 68389XBE4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $17249749.80  | 0.50%             | 2035-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Fifth Third Bancorp                                                     | Fifth Third Bancorp                                                     | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |    300000 | NS      | $15066000.00  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Financial Co., Inc.                                      | General Motors Financial Co., Inc.                                      | CUSIP: 37045XCY0<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19306940.60  | 0.56%             | 2030-06-21      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                                    | JPMorgan Chase & Co.                                                    | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     35000 | NS      | $10706150.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                                    | Edison International                                                    | CUSIP: 281020AW7<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $21398585.40  | 0.62%             | 2029-11-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                                          | Morgan Stanley                                                          | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    150000 | NS      | $27420000.00  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                    | FNMA, 30 Year                                                           | CUSIP: 31418ER77<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  14676933 | PA      | $14739378.25  | 0.43%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Micron Technology, Inc.                                                 | Micron Technology, Inc.                                                 | CUSIP: 595112BZ5<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5324030.70   | 0.15%             | 2033-02-09      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWNX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7393873 | PA      | $7503964.50   | 0.22%             | 2055-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                    | GNMA II, Single-family, 30 Year                                         | CUSIP: 3618N5TP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   9842591 | PA      | $10091052.44  | 0.29%             | 2055-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into NextEra Energy, Inc.                       | BNP Paribas Issuance BV into NextEra Energy, Inc.                       | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |    254000 | NS      | $22158675.45  | 0.64%             | 2027-02-10      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Analog Devices, Inc.                                                    | Analog Devices, Inc.                                                    | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |    100000 | NS      | $31088000.00  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| HP, Inc.                                                                | HP, Inc.                                                                | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15355755.90  | 0.44%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SLB Ltd.                                                                | SLB Ltd.                                                                | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |    321000 | NS      | $15529980.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy, Inc.                                                    | NextEra Energy, Inc.                                                    | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |    475000 | NS      | $24263000.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp.                                                           | Chevron Corp.                                                           | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    450000 | NS      | $79605000.00  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWMX8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |  22372963 | PA      | $22394136.45  | 0.65%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ConocoPhillips                                                          | ConocoPhillips                                                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     75000 | NS      | $7817250.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Operations Co. LLC                                               | Vistra Operations Co. LLC                                               | CUSIP: 92840VAE2<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $19905789.40  | 0.58%             | 2029-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Southern Co. (The)                                                      | Southern Co. (The)                                                      | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15897037.65  | 0.46%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| BNP Paribas Issuance BV into Target Corp.                               | BNP Paribas Issuance BV into Target Corp.                               | CUSIP: N/A<br>LEI: 7245009UXRIGIRYOBR48       | Long             | SN               | CORP              | NL        |     55000 | NS      | $5364268.08   | 0.16%             | 2026-10-07      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Rio Tinto plc                                                           | Rio Tinto plc                                                           | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |    250000 | NS      | $22757500.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs International Bank into NIKE, Inc.                        | Goldman Sachs International Bank into NIKE, Inc.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    128000 | NS      | $7999768.89   | 0.23%             | 2026-03-31      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Coca-Cola Co. (The)                                                     | Coca-Cola Co. (The)                                                     | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |    300000 | NS      | $22443000.00  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Pass-Through Trust                                      | United Airlines Pass-Through Trust, Series 2020-1, Class A              | CUSIP: 90931GAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3256063 | PA      | $3339208.67   | 0.10%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Bank NA into Target Corp.                                   | Wells Fargo Bank NA into Target Corp.                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |    275000 | NS      | $28822506.05  | 0.84%             | 2026-05-13      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Procter & Gamble Co. (The)                                              | Procter & Gamble Co. (The)                                              | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    450000 | NS      | $68296500.00  | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Toronto-Dominion Bank (The) into Starbucks Corp.                        | Toronto-Dominion Bank (The) into Starbucks Corp.                        | CUSIP: 89112B244<br>LEI: PT3QB789TSUIDF371261 | Long             | SN               | CORP              | CA        |    125000 | NS      | $11507133.49  | 0.33%             | 2027-01-27      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                                  | Truist Financial Corp.                                                  | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    350000 | NS      | $17997000.00  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra, Inc.                                                            | Sempra, Inc.                                                            | CUSIP: 816851BR9<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15620050.05  | 0.45%             | 2033-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Verizon Communications, Inc.                                            | Verizon Communications, Inc.                                            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    100000 | NS      | $4452000.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Pool                                                              | FHLMC Pool, 30 Year                                                     | CUSIP: 3132DWJR5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   7094349 | PA      | $7199980.75   | 0.21%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Amgen, Inc.                                                             | Amgen, Inc.                                                             | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     50000 | NS      | $17094000.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                                      | Southern Co. (The), Series A                                            | CUSIP: 842587842<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |    175000 | NS      | $8968750.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                                   | Bank of America Corp.                                                   | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    500000 | NS      | $26600000.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp. (The)                                              | Charles Schwab Corp. (The)                                              | CUSIP: 808513CE3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10677111.60  | 0.31%             | 2034-05-19      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Fresenius Medical Care US Finance III, Inc.                             | Fresenius Medical Care US Finance III, Inc.                             | CUSIP: 35805BAE8<br>LEI: 5299006ZHLMXOOUVTU44 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $18029267.80  | 0.52%             | 2031-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Meta Platforms, Inc.                      | Mizuho Markets Cayman LP into Meta Platforms, Inc.                      | CUSIP: 60701B523<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     33000 | NS      | $21624339.30  | 0.63%             | 2026-12-07      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| General Motors Financial Co., Inc.                                      | General Motors Financial Co., Inc.                                      | CUSIP: 37045XED4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10785031.90  | 0.31%             | 2033-01-09      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| FNMA                                                                    | FNMA, 30 Year                                                           | CUSIP: 31418FNK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  15888708 | PA      | $16269028.80  | 0.47%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Honeywell International, Inc.                                           | Honeywell International, Inc.                                           | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |    100000 | NS      | $22752000.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties LP / VICI Note Co., Inc.                                | VICI Properties LP / VICI Note Co., Inc.                                | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20012036.60  | 0.58%             | 2029-12-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Merrill Lynch BV into Advanced Micro Devices, Inc.                      | Merrill Lynch BV into Advanced Micro Devices, Inc.                      | CUSIP: 59027W336<br>LEI: 549300RQ1D1WIE085245 | Long             | SN               | CORP              | NL        |    125000 | NS      | $14011193.68  | 0.41%             | 2026-05-06      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Healthpeak OP LLC                                                       | Healthpeak OP LLC                                                       | CUSIP: 42250PAE3<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $20515413.60  | 0.59%             | 2032-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Boeing Co. (The)                                                        | Boeing Co. (The)                                                        | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |    300000 | NS      | $22416000.00  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                    | FNMA, 30 Year                                                           | CUSIP: 3140XPBW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |  35712433 | PA      | $35846059.46  | 1.04%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp.                                             | Capital One Financial Corp.                                             | CUSIP: 14040HCT0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10204850.60  | 0.30%             | 2033-05-10      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| RTX Corp.                                                               | RTX Corp.                                                               | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |    155000 | NS      | $31144150.00  | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom, Inc.                                                          | Broadcom, Inc.                                                          | CUSIP: 11135FCT6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |  20000000 | PA      | $18188954.60  | 0.53%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| AbbVie, Inc.                                                            | AbbVie, Inc.                                                            | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    165000 | NS      | $36796650.00  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp.                                                     | Union Pacific Corp.                                                     | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    150000 | NS      | $35265000.00  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra, Inc.                                                            | Sempra, Inc.                                                            | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |    250000 | NS      | $21752500.00  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| FNMA                                                                    | FNMA, 30 Year                                                           | CUSIP: 3140QBMZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    833338 | PA      | $811289.59    | 0.02%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GNMA                                                                    | GNMA II, Single-family, 30 Year                                         | CUSIP: 3618N5XQ7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |  99220425 | PA      | $100472955.86 | 2.91%             | 2055-10-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp.                                                       | Duke Energy Corp.                                                       | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |    300000 | NS      | $36405000.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. Morgan Structured Products BV into Amazon.com, Inc.                | J.P. Morgan Structured Products BV into Amazon.com, Inc.                | CUSIP: N/A<br>LEI: XZYUUT6IYN31D9K77X08       | Long             | SN               | CORP              | NL        |     45000 | NS      | $10434011.52  | 0.30%             | 2027-01-11      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Mizuho Markets Cayman LP into Microsoft Corp.                           | Mizuho Markets Cayman LP into Microsoft Corp.                           | CUSIP: 60701B747<br>LEI: 549300KHUXLS6Q30KT26 | Long             | SN               | CORP              | KY        |     50000 | NS      | $22180762.63  | 0.64%             | 2027-01-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA into Applied Materials, Inc.                     | Goldman Sachs Bank USA into Applied Materials, Inc.                     | CUSIP: 38151L407<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | SN               | CORP              | US        |    135000 | NS      | $22876465.16  | 0.66%             | 2026-05-05      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                        | McDonald's Corp.                                                        | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     50000 | NS      | $15750000.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund                | Franklin Institutional U.S. Government Money Market Fund                | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  61502566 | NS      | $61502565.72  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank plc into Amazon.com, Inc.                                 | Barclays Bank plc into Amazon.com, Inc.                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | SN               | CORP              | US        |     80000 | NS      | $17754181.58  | 0.51%             | 2026-03-25      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Accenture plc                                                           | Accenture plc, Class A                                                  | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |     50000 | NS      | $13182000.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                                                    | JPMorgan Chase & Co., Series NN                                         | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10568530.00  | 0.31%             | 2029-06-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc. (The)                                         | Goldman Sachs Group, Inc. (The)                                         | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $13558723.35  | 0.39%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp.                                                        | CVS Health Corp.                                                        | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    200000 | NS      | $14904000.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp.                                                            | Oracle Corp.                                                            | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10442041.80  | 0.30%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAT Capital Corp.                                                       | BAT Capital Corp.                                                       | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $29224166.00  | 0.85%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust               | AerCap Ireland Capital DAC / AerCap Global Aviation Trust               | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |  20000000 | PA      | $18508913.00  | 0.54%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Brown & Brown, Inc.                                                     | Brown & Brown, Inc.                                                     | CUSIP: 115236AC5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $22487579.25  | 0.65%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| EURO                                                                    | EURO                                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | XX        |    233750 | OU      | $277075.56    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays plc                                                            | Barclays plc                                                            | CUSIP: 06738ECA1<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |  10000000 | PA      | $10490899.20  | 0.30%             | 2033-08-09      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                                         | Citigroup, Inc.                                                         | CUSIP: 172967PU9<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15644757.30  | 0.45%             | 2036-01-24      | Fixed         | 6.02%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                       | Wells Fargo & Co.                                                       | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $25862745.75  | 0.75%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp.                                                   | Lockheed Martin Corp.                                                   | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |     75000 | NS      | $47566500.00  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.                                                  | Truist Financial Corp.                                                  | CUSIP: 89788MAM4<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10150369.80  | 0.29%             | 2034-01-26      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                      | Energy Transfer LP                                                      | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15734934.75  | 0.46%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Nestle SA                                                               | Nestle SA                                                               | CUSIP: 641069406<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |    170000 | NS      | $16160200.00  | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                                          | Morgan Stanley                                                          | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15533424.15  | 0.45%             | 2034-07-21      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Texas Instruments, Inc.                                                 | Texas Instruments, Inc.                                                 | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    275000 | NS      | $59276250.00  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcelorMittal SA                                                        | ArcelorMittal SA                                                        | CUSIP: 03938LBE3<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |  10000000 | PA      | $10411600.50  | 0.30%             | 2027-11-29      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings, Inc. into Halliburton Co.            | Citigroup Global Markets Holdings, Inc. into Halliburton Co.            | CUSIP: N/A<br>LEI: 82VOJDD5PTRDMVVMGV31       | Long             | SN               | CORP              | US        |    495000 | NS      | $15852031.00  | 0.46%             | 2027-01-26      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Centene Corp.                                                           | Centene Corp.                                                           | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  25000000 | PA      | $24381721.50  | 0.71%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Humana, Inc.                                                            | Humana, Inc.                                                            | CUSIP: 444859BV3<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15532827.60  | 0.45%             | 2033-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HCA, Inc.                                                               | HCA, Inc.                                                               | CUSIP: 404119CQ0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |  15000000 | PA      | $15575821.05  | 0.45%             | 2033-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** Franklin Investors Securities Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer