# EDGAR Filing Document

**Accession Number:** 0000110055
**File Stem:** 0000940400-25-005420
**Filing Date:** 2025-10
**Character Count:** 604027
**Document Hash:** b3858d22827da5d570ae04081cf04222
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005420.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0000940400-25-005420

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250829

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK BALANCED FUND, INC.
- **CENTRAL INDEX KEY:** 0000110055

**ORGANIZATION NAME:**
- **EIN:** 132757134
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-02405
- **FILM NUMBER:** 251419576

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 08536
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 08536

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK SUSTAINABLE BALANCED FUND, INC.
- **DATE OF NAME CHANGE:** 20220408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK BALANCED CAPITAL FUND, INC.
- **DATE OF NAME CHANGE:** 20061002

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH BALANCED CAPITAL FUND INC
- **DATE OF NAME CHANGE:** 20051214

## Series and Classes Contracts Data

### BLACKROCK BALANCED FUND, INC. (Series ID: S000002175)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000005578 | Investor A    |  |
| C000005580 | Investor C    |  |
| C000005581 | Institutional |  |
| C000005582 | Class R       |  |
| C000199764 | Class K       |  |

## Nport-Ex

Schedule of Investments (unaudited)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

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

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** | **Aerospace & Defense — 1.5%** |
| Axon Enterprise, Inc.<sup>(a)(b)</sup> | 283 | $211483 |
| BAE Systems PLC | 280200 | 6640980 |
| Curtiss-Wright Corp. | 4876 | 2331459 |
| General Dynamics Corp. | 2956 | 959429 |
| Huntington Ingalls Industries, Inc. | 90 | 24371 |
| L3Harris Technologies, Inc. | 72 | 19989 |
| Leonardo SpA | 4524 | 257001 |
| Lockheed Martin Corp. | 582 | 265177 |
| Northrop Grumman Corp. | 3074 | 1813783 |
| Rolls-Royce Holdings PLC | 202849 | 2925153 |
| RTX Corp. | 20173 | 3199438 |
| Safran SA | 18360 | 6101552 |
| Thales SA | 4177 | 1098716 |
|  |  | 25848531 |
| **Air Freight & Logistics — 0.5%** | **Air Freight & Logistics — 0.5%** | **Air Freight & Logistics — 0.5%** |
| CJ Logistics Corp. | 8006 | 479788 |
| FedEx Corp. | 34598 | 7994560 |
| Hyundai Glovis Co. Ltd. | 946 | 125108 |
|  |  | 8599456 |
| **Automobile Components — 0.5%** | **Automobile Components — 0.5%** | **Automobile Components — 0.5%** |
| BorgWarner, Inc. | 179696 | 7683801 |
| HL Mando Co. Ltd. | 330 | 8425 |
|  |  | 7692226 |
| **Automobiles — 0.7%** | **Automobiles — 0.7%** | **Automobiles — 0.7%** |
| BYD Co. Ltd., Class A | 43800 | 700741 |
| BYD Co. Ltd., Class H | 3000 | 42323 |
| Geely Automobile Holdings Ltd. | 501000 | 1263694 |
| Mercedes-Benz Group AG, Class N | 21312 | 1333807 |
| SAIC Motor Corp. Ltd., Class A | 32200 | 84840 |
| Tesla, Inc.<sup>(a)</sup> | 26464 | 8835536 |
| Toyota Motor Corp. | 2300 | 44534 |
| XPeng, Inc., A Shares<sup>(a)</sup> | 10400 | 109800 |
|  |  | 12415275 |
| **Banks — 4.6%** | **Banks — 4.6%** | **Banks — 4.6%** |
| Banca Monte dei Paschi di Siena SpA | 80019 | 734279 |
| Banco Bilbao Vizcaya Argentaria SA | 78608 | 1430588 |
| Banco Santander SA | 49789 | 475487 |
| Bank Central Asia Tbk PT | 2144200 | 1050465 |
| Bank Hapoalim BM | 14074 | 275060 |
| Bank Mandiri Persero Tbk PT | 294800 | 84491 |
| Bank Negara Indonesia Persero Tbk PT | 144900 | 38469 |
| Bank of America Corp. | 236530 | 12001532 |
| Bank Polska Kasa Opieki SA | 5907 | 297528 |
| Bank Rakyat Indonesia Persero Tbk PT | 2837100 | 696458 |
| Barclays PLC | 21603 | 105264 |
| BAWAG Group AG<sup>(c)</sup> | 4507 | 582736 |
| BNP Paribas SA | 8482 | 762233 |
| BPER Banca SpA | 14194 | 147434 |
| Citigroup, Inc. | 35205 | 3399747 |
| Commonwealth Bank of Australia | 38634 | 4294094 |
| Credit Agricole SA | 106448 | 1947149 |
| DBS Group Holdings Ltd. | 181100 | 7128618 |
| DNB Bank ASA | 1987 | 52354 |
| E.Sun Financial Holding Co. Ltd. | 157102 | 171461 |
| Fukuoka Financial Group, Inc. | 1400 | 41950 |
| Grupo Cibest SA | 6422 | 94637 |
| Grupo Financiero Banorte SAB de CV, Class O | 20707 | 188615 |
| Huntington Bancshares, Inc. | 17424 | 310321 |
| Intesa Sanpaolo SpA | 654564 | 4120842 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Israel Discount Bank Ltd., Class A | 13742 | $136137 |
| Japan Post Bank Co. Ltd. | 214800 | 2700066 |
| JPMorgan Chase & Co. | 27184 | 8193801 |
| KB Financial Group, Inc. | 4247 | 331713 |
| Mitsubishi UFJ Financial Group, Inc. | 30400 | 462659 |
| Mizuho Financial Group, Inc. | 255700 | 8411993 |
| NatWest Group PLC | 76832 | 530305 |
| Nordea Bank Abp | 57634 | 879511 |
| PNC Financial Services Group, Inc. (The) | 38830 | 8054895 |
| Shanghai Commercial & Savings Bank Ltd. (The) | 99 | 133 |
| Standard Chartered PLC | 28301 | 530293 |
| Sumitomo Mitsui Financial Group, Inc. | 141700 | 3859284 |
| Truist Financial Corp. | 7380 | 345532 |
| U.S. Bancorp | 84760 | 4138831 |
|  |  | 79006965 |
| **Beverages — 0.4%** | **Beverages — 0.4%** | **Beverages — 0.4%** |
| Ambev SA | 522751 | 1190733 |
| Coca-Cola Femsa SAB de CV | 11724 | 99379 |
| Heineken NV | 265 | 21494 |
| Monster Beverage Corp.<sup>(a)</sup> | 10894 | 679894 |
| PepsiCo, Inc. | 28826 | 4284985 |
|  |  | 6276485 |
| **Biotechnology — 0.8%** | **Biotechnology — 0.8%** | **Biotechnology — 0.8%** |
| 3SBio, Inc.<sup>(c)</sup> | 131500 | 494663 |
| AbbVie, Inc. | 21750 | 4576200 |
| Alkermes PLC<sup>(a)(b)</sup> | 5467 | 158379 |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | 318 | 141990 |
| Amgen, Inc. | 4325 | 1244346 |
| BeOne Medicines Ltd., Class H<sup>(a)</sup> | 6600 | 157007 |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> | 3888 | 226554 |
| CSL Ltd. | 1944 | 270426 |
| Genmab A/S<sup>(a)</sup> | 2730 | 681379 |
| Gilead Sciences, Inc. | 15895 | 1795658 |
| Hugel, Inc.<sup>(a)</sup> | 1645 | 371918 |
| Incyte Corp.<sup>(a)</sup> | 7983 | 675442 |
| Innovent Biologics, Inc.<sup>(a)(c)</sup> | 52000 | 649894 |
| Natera, Inc.<sup>(a)</sup> | 4585 | 771426 |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> | 3209 | 447976 |
| PharmaResearch Co. Ltd. | 409 | 198992 |
| Regeneron Pharmaceuticals, Inc. | 1204 | 699163 |
| Seegene, Inc. | 2268 | 42291 |
| United Therapeutics Corp.<sup>(a)</sup> | 341 | 103923 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 1617 | 632279 |
| Zai Lab Ltd.<sup>(a)</sup> | 50800 | 169095 |
|  |  | 14509001 |
| **Broadline Retail — 2.1%** | **Broadline Retail — 2.1%** | **Broadline Retail — 2.1%** |
| Alibaba Group Holding Ltd. | 255700 | 4233796 |
| Amazon.com, Inc.<sup>(a)</sup> | 116846 | 26757734 |
| Coupang, Inc., Class A<sup>(a)</sup> | 24618 | 703582 |
| eBay, Inc. | 354 | 32076 |
| JD.com, Inc., Class A | 65300 | 1011834 |
| MercadoLibre, Inc.<sup>(a)</sup> | 898 | 2220673 |
| Poya International Co. Ltd. | 4040 | 61654 |
| Wesfarmers Ltd. | 16437 | 984553 |
|  |  | 36005902 |
| **Building Products — 0.0%** | **Building Products — 0.0%** | **Building Products — 0.0%** |
| Assa Abloy AB, Class B | 1569 | 55440 |
| **Capital Markets — 2.6%** | **Capital Markets — 2.6%** | **Capital Markets — 2.6%** |
| Ameriprise Financial, Inc. | 3396 | 1748295 |
| B3 SA - Brasil Bolsa Balcao | 565656 | 1358363 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Charles Schwab Corp. (The) | 78056 | $7480887 |
| CME Group, Inc., Class A | 3998 | 1065507 |
| Daiwa Securities Group, Inc. | 125900 | 976023 |
| Deutsche Bank AG, Registered Shares | 2132 | 74910 |
| Huatai Securities Co. Ltd., Class A | 1331700 | 4055200 |
| IG Group Holdings PLC | 2965 | 45296 |
| Interactive Brokers Group, Inc., Class A | 1710 | 106430 |
| Intercontinental Exchange, Inc. | 8192 | 1446707 |
| London Stock Exchange Group PLC | 5812 | 720299 |
| Macquarie Group Ltd. | 2565 | 376202 |
| Moody's Corp. | 15136 | 7715727 |
| Morgan Stanley | 63413 | 9542388 |
| Nasdaq, Inc. | 227 | 21506 |
| S&P Global, Inc. | 13351 | 7322223 |
|  |  | 44055963 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| Asahi Kasei Corp. | 66200 | 540230 |
| Corteva, Inc. | 25390 | 1883684 |
| DSM-Firmenich AG | 4278 | 418585 |
| DuPont de Nemours, Inc. | 25275 | 1944153 |
| Givaudan SA, Registered Shares | 897 | 3777786 |
| KCC Corp. | 855 | 243919 |
| LG Chem Ltd. | 5518 | 1095975 |
| Orica Ltd. | 4709 | 67580 |
| Sumitomo Chemical Co. Ltd. | 28200 | 84589 |
| Zhejiang NHU Co. Ltd., Class A | 127700 | 446464 |
|  |  | 10502965 |
| **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** |
| Cintas Corp. | 791 | 166134 |
| GFL Environmental, Inc. | 9715 | 485980 |
| Republic Services, Inc. | 108 | 25269 |
| Waste Management, Inc. | 5107 | 1156173 |
|  |  | 1833556 |
| **Communications Equipment — 0.7%** | **Communications Equipment — 0.7%** | **Communications Equipment — 0.7%** |
| Accton Technology Corp. | 9000 | 296302 |
| Arcadyan Technology Corp. | 50000 | 385693 |
| Motorola Solutions, Inc. | 12121 | 5726688 |
| Nokia Oyj | 483403 | 2081022 |
| Sercomm Corp. | 22000 | 75472 |
| Telefonaktiebolaget LM Ericsson, B Shares | 349833 | 2769560 |
| WNC Corp. | 12000 | 49549 |
|  |  | 11384286 |
| **Construction & Engineering — 1.0%** | **Construction & Engineering — 1.0%** | **Construction & Engineering — 1.0%** |
| ACS Actividades de Construccion y Servicios SA | 7953 | 601141 |
| AECOM | 34288 | 4282228 |
| Eiffage SA | 11153 | 1403555 |
| &nbsp;&nbsp;&nbsp; HDC Hyundai Development Co-Engineering & <br> Construction, Class E<br>| 3726 | 53118 |
| Hyundai Engineering & Construction Co. Ltd. | 6416 | 285381 |
| MasTec, Inc.<sup>(a)</sup> | 17678 | 3211916 |
| Obayashi Corp. | 75800 | 1229563 |
| Samsung E & A Co. Ltd. | 21145 | 440943 |
| Shimizu Corp. | 22600 | 303615 |
| Skanska AB, B Shares | 10756 | 267116 |
| Stantec, Inc. | 30021 | 3263214 |
| Sunway Construction Group Bhd | 132400 | 198402 |
| United Integrated Services Co. Ltd. | 3000 | 120006 |
| Worley Ltd. | 125666 | 1204245 |
|  |  | 16864443 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Consumer Finance — 0.6%** | **Consumer Finance — 0.6%** | **Consumer Finance — 0.6%** |
| American Express Co. | 30124 | $9979479 |
| Gentera SAB de CV | 9291 | 22779 |
|  |  | 10002258 |
| **Consumer Staples Distribution & Retail — 1.3%** | **Consumer Staples Distribution & Retail — 1.3%** | **Consumer Staples Distribution & Retail — 1.3%** |
| Costco Wholesale Corp. | 6171 | 5821228 |
| Dino Polska SA<sup>(a)(c)</sup> | 7600 | 94829 |
| E-MART, Inc. | 410 | 21050 |
| George Weston Ltd. | 5486 | 353283 |
| J Sainsbury PLC | 14559 | 58913 |
| Koninklijke Ahold Delhaize NV | 12254 | 491053 |
| Loblaw Cos. Ltd. | 7548 | 308273 |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> | 2262 | 317901 |
| Tesco PLC | 370186 | 2116001 |
| Walmart, Inc. | 123716 | 11997978 |
|  |  | 21580509 |
| **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** | **Diversified REITs — 0.0%** |
| British Land Co. PLC (The) | 11827 | 53703 |
| **Diversified Telecommunication Services — 1.1%** | **Diversified Telecommunication Services — 1.1%** | **Diversified Telecommunication Services — 1.1%** |
| AT&T Inc. | 111897 | 3277463 |
| Deutsche Telekom AG, Registered Shares | 218825 | 8007905 |
| Koninklijke KPN NV | 67851 | 323796 |
| Singapore Telecommunications Ltd. | 236700 | 795497 |
| Telefonica Brasil SA | 92929 | 579151 |
| Verizon Communications, Inc. | 136098 | 6019615 |
|  |  | 19003427 |
| **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** | **Electric Utilities — 0.3%** |
| Duke Energy Corp. | 17107 | 2095436 |
| Edison International | 27896 | 1565802 |
| EDP SA | 4849 | 21476 |
| Entergy Corp. | 19120 | 1684281 |
| Kansai Electric Power Co., Inc. (The) | 2100 | 29137 |
| Korea Electric Power Corp. | 2484 | 65131 |
|  |  | 5461263 |
| **Electrical Equipment — 1.4%** | **Electrical Equipment — 1.4%** | **Electrical Equipment — 1.4%** |
| ABB Ltd., Registered Shares | 127560 | 8560695 |
| AMETEK, Inc. | 42273 | 7812050 |
| Bizlink Holding, Inc. | 48504 | 1688081 |
| LS Corp. | 612 | 77442 |
| Schneider Electric SE | 512 | 125791 |
| Siemens Energy AG<sup>(a)</sup> | 45929 | 4885898 |
|  |  | 23149957 |
| **Electronic Equipment, Instruments & Components — 0.4%** | **Electronic Equipment, Instruments & Components — 0.4%** | **Electronic Equipment, Instruments & Components — 0.4%** |
| Chroma ATE, Inc. | 130000 | 2462515 |
| Delta Electronics, Inc. | 28000 | 645057 |
| Keyence Corp. | 1800 | 686238 |
| Keysight Technologies, Inc.<sup>(a)</sup> | 9976 | 1630378 |
| Lotes Co. Ltd. | 4000 | 188052 |
| Murata Manufacturing Co. Ltd. | 96300 | 1554625 |
| Primax Electronics Ltd. | 164000 | 443495 |
| Sinbon Electronics Co. Ltd. | 8000 | 60563 |
|  |  | 7670923 |
| **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** | **Energy Equipment & Services — 0.2%** |
| TechnipFMC PLC | 73213 | 2691310 |
| **Entertainment — 0.6%** | **Entertainment — 0.6%** | **Entertainment — 0.6%** |
| NCSoft Corp. | 327 | 47593 |
| NetEase, Inc. | 12600 | 345502 |
| Netflix, Inc.<sup>(a)</sup> | 6053 | 7313537 |
| ROBLOX Corp., Class A<sup>(a)</sup> | 11385 | 1418457 |
| Sea Ltd., Class A, ADR<sup>(a)</sup> | 2517 | 469521 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Spotify Technology SA<sup>(a)</sup> | 949 | $647104 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> | 3278 | 764659 |
|  |  | 11006373 |
| **Financial Services — 0.9%** | **Financial Services — 0.9%** | **Financial Services — 0.9%** |
| Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | 3739 | 1880642 |
| Block, Inc., Class A<sup>(a)</sup> | 5581 | 444471 |
| Essent Group Ltd. | 1409 | 88401 |
| FirstRand Ltd. | 18756 | 79057 |
| Fiserv, Inc.<sup>(a)</sup> | 1194 | 164987 |
| Mastercard, Inc., Class A | 9165 | 5455833 |
| ORIX Corp. | 86500 | 2234122 |
| Pagseguro Digital Ltd., Class A | 3991 | 35759 |
| Visa, Inc., Class A | 16426 | 5778338 |
|  |  | 16161610 |
| **Food Products — 0.5%** | **Food Products — 0.5%** | **Food Products — 0.5%** |
| AVI Ltd. | 27839 | 147575 |
| BRF SA | 61507 | 233352 |
| China Mengniu Dairy Co. Ltd. | 245000 | 482357 |
| Danone SA | 69256 | 5780615 |
| JBS NV<sup>(a)</sup> | 1 | 8 |
| Marfrig Global Foods SA | 52654 | 242592 |
| Minerva SA<sup>(a)</sup> | 62990 | 69823 |
| Tingyi Cayman Islands Holding Corp. | 66000 | 93792 |
| Uni-President China Holdings Ltd. | 113000 | 134980 |
| WH Group Ltd.<sup>(c)</sup> | 538500 | 578673 |
|  |  | 7763767 |
| **Gas Utilities — 0.0%** | **Gas Utilities — 0.0%** | **Gas Utilities — 0.0%** |
| ENN Energy Holdings Ltd. | 15200 | 123030 |
| Perusahaan Gas Negara Tbk PT | 893800 | 92684 |
|  |  | 215714 |
| **Ground Transportation — 0.2%** | **Ground Transportation — 0.2%** | **Ground Transportation — 0.2%** |
| Uber Technologies, Inc.<sup>(a)</sup> | 32048 | 3004500 |
| **Health Care Equipment & Supplies — 0.5%** | **Health Care Equipment & Supplies — 0.5%** | **Health Care Equipment & Supplies — 0.5%** |
| Boston Scientific Corp.<sup>(a)</sup> | 38241 | 4034425 |
| Medtronic PLC | 55091 | 5112996 |
|  |  | 9147421 |
| **Health Care Providers & Services — 0.6%** | **Health Care Providers & Services — 0.6%** | **Health Care Providers & Services — 0.6%** |
| Cardinal Health, Inc. | 4845 | 720839 |
| Cigna Group (The) | 5460 | 1642750 |
| Elevance Health, Inc. | 5513 | 1756718 |
| KPJ Healthcare Bhd | 390900 | 240403 |
| McKesson Corp. | 55 | 37765 |
| Sonic Healthcare Ltd. | 31037 | 487513 |
| UnitedHealth Group, Inc. | 14850 | 4601570 |
|  |  | 9487558 |
| **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** |
| Pro Medicus Ltd. | 730 | 141791 |
| Veeva Systems, Inc., Class A<sup>(a)</sup> | 3545 | 954314 |
|  |  | 1096105 |
| **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** | **Hotel & Resort REITs — 0.0%** |
| RLJ Lodging Trust | 17 | 131 |
| **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** | **Hotels, Restaurants & Leisure — 1.2%** |
| Airbnb, Inc., Class A<sup>(a)</sup> | 23175 | 3025033 |
| Aristocrat Leisure Ltd. | 31868 | 1511072 |
| Booking Holdings, Inc. | 1602 | 8969678 |
| Darden Restaurants, Inc. | 635 | 131407 |
| DoorDash, Inc., Class A<sup>(a)</sup> | 2211 | 542248 |
| MakeMyTrip Ltd.<sup>(a)(b)</sup> | 21969 | 2169439 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** | **Hotels, Restaurants & Leisure (continued)** |
| McDonald's Corp. | 6532 | $2048043 |
| Meituan, Class B<sup>(a)(c)</sup> | 98270 | 1308852 |
| Trip.com Group Ltd. | 2081 | 154051 |
|  |  | 19859823 |
| **Household Durables — 0.5%** | **Household Durables — 0.5%** | **Household Durables — 0.5%** |
| Garmin Ltd. | 3792 | 916982 |
| Haier Smart Home Co. Ltd., Class H | 6400 | 21733 |
| NVR, Inc.<sup>(a)</sup> | 122 | 990353 |
| Panasonic Holdings Corp. | 104200 | 1054742 |
| Sony Group Corp. | 217200 | 5936324 |
| Toll Brothers, Inc. | 2257 | 313723 |
|  |  | 9233857 |
| **Household Products — 0.3%** | **Household Products — 0.3%** | **Household Products — 0.3%** |
| Procter & Gamble Co. (The) | 35404 | 5559844 |
| **Independent Power and Renewable Electricity Producers — 0.0%** | **Independent Power and Renewable Electricity Producers — 0.0%** | **Independent Power and Renewable Electricity Producers — 0.0%** |
| ReNew Energy Global PLC, Class A<sup>(a)</sup> | 98037 | 746062 |
| **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** | **Industrial Conglomerates — 0.7%** |
| CJ Corp. | 3558 | 407911 |
| Hanwha Corp. | 675 | 40500 |
| Hitachi Ltd. | 3900 | 105079 |
| Honeywell International, Inc. | 40797 | 8954942 |
| Samsung C&T Corp. | 980 | 117955 |
| Smiths Group PLC | 62261 | 1982422 |
|  |  | 11608809 |
| **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** |
| AIA Group Ltd. | 773600 | 7352570 |
| Allianz SE, Registered Shares | 2468 | 1043428 |
| Allstate Corp. (The) | 9027 | 1836543 |
| Assurant, Inc. | 1363 | 293876 |
| AXA SA | 46111 | 2147743 |
| Fairfax Financial Holdings Ltd. | 875 | 1506375 |
| Hanover Insurance Group, Inc. (The) | 832 | 144335 |
| Hartford Insurance Group, Inc. (The) | 34680 | 4588511 |
| MetLife, Inc. | 49537 | 4030330 |
| NN Group NV | 17698 | 1218191 |
| &nbsp;&nbsp;&nbsp; Ping An Insurance Group Co. of China Ltd., H <br> Shares<br>| 107500 | 782670 |
| Sampo Oyj, A Shares | 84165 | 965778 |
| Travelers Cos., Inc. (The) | 16214 | 4402263 |
| Zurich Insurance Group AG, Class N | 162 | 118382 |
|  |  | 30430995 |
| **Interactive Media & Services — 3.2%** | **Interactive Media & Services — 3.2%** | **Interactive Media & Services — 3.2%** |
| Alphabet, Inc., Class A | 79909 | 17013425 |
| Alphabet, Inc., Class C, NVS | 49031 | 10469590 |
| Auto Trader Group PLC<sup>(c)</sup> | 115060 | 1249483 |
| Meta Platforms, Inc., Class A | 17003 | 12560116 |
| NAVER Corp. | 4070 | 625656 |
| REA Group Ltd. | 7251 | 1187486 |
| Soop Co. Ltd. | 782 | 43734 |
| Tencent Holdings Ltd. | 142900 | 11066820 |
|  |  | 54216310 |
| **IT Services — 0.5%** | **IT Services — 0.5%** | **IT Services — 0.5%** |
| Accenture PLC, Class A | 18373 | 4776429 |
| Cognizant Technology Solutions Corp., Class A | 7259 | 524463 |
| GoDaddy, Inc., Class A<sup>(a)</sup> | 6159 | 913441 |
| VeriSign, Inc. | 1862 | 509015 |
| Wix.com Ltd.<sup>(a)</sup> | 8854 | 1249122 |
|  |  | 7972470 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Machinery — 0.5%** | **Machinery — 0.5%** | **Machinery — 0.5%** |
| Alfa Laval AB | 13014 | $592473 |
| Amada Co. Ltd. | 131400 | 1669727 |
| Caterpillar, Inc. | 4995 | 2093105 |
| GEA Group AG | 7166 | 521591 |
| HD Hyundai Heavy Industries Co. Ltd. | 410 | 152950 |
| HD Hyundai Mipo Co. Ltd. | 161 | 23668 |
| &nbsp;&nbsp;&nbsp; HD Korea Shipbuilding & Offshore Engineering Co. <br> Ltd.<br>| 320 | 93257 |
| Hyundai Construction Equipment Co. Ltd. | 1046 | 65360 |
| Hyundai Elevator Co. Ltd. | 311 | 17517 |
| Hyundai Rotem Co. Ltd. | 2132 | 294106 |
| MISUMI Group, Inc. | 13700 | 207780 |
| Rational AG | 52 | 38761 |
| Techtronic Industries Co. Ltd. | 62500 | 808275 |
| Wartsila Oyj Abp | 45284 | 1327402 |
| Westinghouse Air Brake Technologies Corp. | 1106 | 214011 |
|  |  | 8119983 |
| **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kuehne + Nagel International AG, Registered <br> Shares<br>| 4135 | 842977 |
| Pan Ocean Co. Ltd. | 13358 | 37363 |
|  |  | 880340 |
| **Media — 0.4%** | **Media — 0.4%** | **Media — 0.4%** |
| Comcast Corp., Class A | 90093 | 3060459 |
| Fox Corp., Class A, NVS | 885 | 52835 |
| Fox Corp., Class B | 13785 | 751972 |
| Informa PLC | 243830 | 2872194 |
|  |  | 6737460 |
| **Metals & Mining — 1.0%** | **Metals & Mining — 1.0%** | **Metals & Mining — 1.0%** |
| Aneka Tambang Tbk | 485800 | 90047 |
| Anglo American PLC | 8245 | 253585 |
| BHP Group Ltd. | 11179 | 311592 |
| Cia Brasileira de Aluminio<sup>(a)</sup> | 118708 | 76630 |
| Endeavour Mining PLC | 17296 | 601365 |
| Freeport-McMoRan, Inc. | 30919 | 1372804 |
| Hyundai Steel Co. | 16235 | 373105 |
| Kinross Gold Corp. | 141234 | 2952509 |
| OceanaGold Corp. | 6232 | 113899 |
| Rio Tinto PLC | 1888 | 118022 |
| South32 Ltd. | 1212140 | 2140281 |
| TA Chen Stainless Pipe | 14647 | 18597 |
| Valterra Platinum Ltd. | 1 | 46 |
| Wheaton Precious Metals Corp. | 85397 | 8576076 |
|  |  | 16998558 |
| **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** | **Multi-Utilities — 0.4%** |
| Consolidated Edison, Inc. | 19951 | 1959787 |
| E.ON SE, Class N | 137548 | 2452667 |
| Engie SA | 152457 | 3154846 |
|  |  | 7567300 |
| **Oil, Gas & Consumable Fuels — 1.8%** | **Oil, Gas & Consumable Fuels — 1.8%** | **Oil, Gas & Consumable Fuels — 1.8%** |
| Aker BP ASA | 20861 | 527741 |
| BP PLC | 101276 | 592427 |
| Canadian Natural Resources Ltd. | 79055 | 2503442 |
| Cheniere Energy, Inc. | 2730 | 660169 |
| Chevron Corp. | 43854 | 7042952 |
| ConocoPhillips | 5595 | 553737 |
| ENEOS Holdings, Inc. | 546100 | 3233674 |
| Expand Energy Corp. | 613 | 59326 |
| Exxon Mobil Corp. | 7209 | 823917 |
| Repsol SA | 60196 | 986980 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** | **Oil, Gas & Consumable Fuels (continued)** |
| Santos Ltd. | 42073 | $220266 |
| Shell PLC | 244543 | 9003919 |
| Suncor Energy, Inc. | 65805 | 2720173 |
| TotalEnergies SE | 2633 | 165302 |
| Ultrapar Participacoes SA | 178321 | 647591 |
| Var Energi ASA | 253801 | 869345 |
|  |  | 30610961 |
| **Passenger Airlines — 0.3%** | **Passenger Airlines — 0.3%** | **Passenger Airlines — 0.3%** |
| Alaska Air Group, Inc.<sup>(a)</sup> | 5080 | 318922 |
| Delta Air Lines, Inc. | 55187 | 3409453 |
| International Consolidated Airlines Group SA | 197975 | 1024021 |
|  |  | 4752396 |
| **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** | **Personal Care Products — 0.0%** |
| Natura Cosmeticos SA<sup>(a)</sup> | 133806 | 221864 |
| **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** | **Pharmaceuticals — 2.1%** |
| Astellas Pharma, Inc. | 40700 | 446791 |
| AstraZeneca PLC | 17920 | 2856706 |
| Bristol-Myers Squibb Co. | 83936 | 3960100 |
| Eli Lilly & Co. | 4576 | 3352286 |
| GSK PLC | 61477 | 1214792 |
| Johnson & Johnson | 4493 | 796025 |
| Novartis AG, Registered Shares | 66131 | 8370339 |
| Novo Nordisk A/S, Class B | 11676 | 659804 |
| Pfizer, Inc. | 358223 | 8869602 |
| Sanofi SA | 13950 | 1384008 |
| Sino Biopharmaceutical Ltd. | 179000 | 187765 |
| Takeda Pharmaceutical Co. Ltd. | 150400 | 4527455 |
|  |  | 36625673 |
| **Professional Services — 0.6%** | **Professional Services — 0.6%** | **Professional Services — 0.6%** |
| Bureau Veritas SA | 5869 | 177048 |
| Experian PLC | 65126 | 3375842 |
| Intertek Group PLC | 26673 | 1691793 |
| Paylocity Holding Corp.<sup>(a)</sup> | 168 | 30110 |
| Recruit Holdings Co. Ltd. | 66600 | 3811074 |
| SGS SA, Registered Shares | 299 | 30501 |
| Verisk Analytics, Inc. | 4732 | 1268744 |
| Wolters Kluwer NV, Class C | 297 | 37414 |
|  |  | 10422526 |
| **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** | **Real Estate Management & Development — 0.3%** |
| Allos SA | 92530 | 409758 |
| FirstService Corp. | 8028 | 1616239 |
| Mitsui Fudosan Co. Ltd. | 271200 | 2867190 |
| Sun Hung Kai Properties Ltd. | 5500 | 64968 |
|  |  | 4958155 |
| **Retail REITs — 0.4%** | **Retail REITs — 0.4%** | **Retail REITs — 0.4%** |
| Kimco Realty Corp. | 81799 | 1839660 |
| Klepierre SA | 2407 | 93986 |
| Link REIT | 16300 | 87061 |
| RioCan Real Estate Investment Trust | 61429 | 826598 |
| Simon Property Group, Inc. | 18843 | 3404176 |
|  |  | 6251481 |
| **Semiconductors & Semiconductor Equipment — 5.8%** | **Semiconductors & Semiconductor Equipment — 5.8%** | **Semiconductors & Semiconductor Equipment — 5.8%** |
| Analog Devices, Inc. | 8928 | 2243696 |
| ASE Technology Holding Co. Ltd. | 115000 | 558494 |
| ASMedia Technology, Inc. | 1000 | 53337 |
| ASML Holding NV | 796 | 591104 |
| ASPEED Technology, Inc. | 10000 | 1625448 |
| Bestechnic Shanghai Co. Ltd., Class A | 21444 | 851749 |
| Broadcom, Inc. | 40202 | 11955673 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Semiconductors & Semiconductor Equipment (continued)** | **Semiconductors & Semiconductor Equipment (continued)** | **Semiconductors & Semiconductor Equipment (continued)** |
| Elan Microelectronics Corp. | 72000 | $279795 |
| Intel Corp. | 39842 | 970153 |
| King Yuan Electronics Co. Ltd. | 162000 | 819698 |
| Lam Research Corp. | 20249 | 2027937 |
| Marvell Technology, Inc. | 9315 | 585587 |
| MediaTek, Inc. | 73000 | 3243831 |
| MPI Corp. | 1000 | 44954 |
| Nanya Technology Corp.<sup>(a)</sup> | 43000 | 65647 |
| NVIDIA Corp. | 296525 | 51648725 |
| Parade Technologies Ltd. | 24000 | 608329 |
| Phison Electronics Corp. | 53000 | 840062 |
| QUALCOMM, Inc. | 31279 | 5027474 |
| Rambus, Inc.<sup>(a)</sup> | 7256 | 535275 |
| Realtek Semiconductor Corp. | 21000 | 364855 |
| Rockchip Electronics Co. Ltd., Class A | 37500 | 1295241 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 282000 | 10561298 |
| Tokyo Electron Ltd. | 16600 | 2260691 |
|  |  | 99059053 |
| **Software — 5.3%** | **Software — 5.3%** | **Software — 5.3%** |
| Adobe, Inc.<sup>(a)</sup> | 13140 | 4687038 |
| Autodesk, Inc.<sup>(a)</sup> | 3230 | 1016481 |
| Dropbox, Inc., Class A<sup>(a)</sup> | 21129 | 614009 |
| Elastic NV<sup>(a)</sup> | 14415 | 1226140 |
| Fair Isaac Corp.<sup>(a)</sup> | 249 | 378888 |
| Figma, Inc., Class A<sup>(a)</sup> | 3974 | 279293 |
| Fortinet, Inc.<sup>(a)</sup> | 1529 | 120439 |
| Intuit, Inc. | 13473 | 8986491 |
| Microsoft Corp. | 93717 | 47485467 |
| Nice Ltd.<sup>(a)</sup> | 3647 | 514101 |
| Nutanix, Inc., Class A<sup>(a)</sup> | 7631 | 512880 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> | 33073 | 5182870 |
| Salesforce, Inc. | 39477 | 10115981 |
| SAP SE | 2277 | 619791 |
| ServiceNow, Inc.<sup>(a)</sup> | 6242 | 5726785 |
| TOTVS SA | 12120 | 96502 |
| Workday, Inc., Class A<sup>(a)</sup> | 5025 | 1159870 |
| Xero Ltd.<sup>(a)</sup> | 21291 | 2270323 |
|  |  | 90993349 |
| **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** | **Specialized REITs — 0.2%** |
| Equinix, Inc. | 5269 | 4142435 |
| **Specialty Retail — 1.0%** | **Specialty Retail — 1.0%** | **Specialty Retail — 1.0%** |
| Best Buy Co., Inc. | 5851 | 430868 |
| Home Depot, Inc. (The) | 24302 | 9885324 |
| JB Hi-Fi Ltd. | 5951 | 455073 |
| Lojas Renner SA | 980529 | 2938775 |
| Lowe's Cos., Inc. | 2852 | 735987 |
| Pop Mart International Group Ltd.<sup>(c)</sup> | 19000 | 789780 |
| TJX Cos., Inc. (The) | 12492 | 1706532 |
|  |  | 16942339 |
| **Technology Hardware, Storage & Peripherals — 3.1%** | **Technology Hardware, Storage & Peripherals — 3.1%** | **Technology Hardware, Storage & Peripherals — 3.1%** |
| Apple Inc. | 198966 | 46187967 |
| Brother Industries Ltd. | 4200 | 70773 |
| Chicony Electronics Co. Ltd. | 67000 | 301005 |
| IEIT Systems Co. Ltd., Class A | 84000 | 791875 |
| Lenovo Group Ltd. | 262000 | 376124 |
| Quanta Computer, Inc. | 3000 | 25546 |
| Samsung Electronics Co. Ltd. | 53384 | 2667054 |
| Xiaomi Corp., Class B<sup>(a)(c)</sup> | 375600 | 2563414 |
|  |  | 52983758 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
| Bosideng International Holdings Ltd. | 412000 | $238456 |
| Hermes International SCA | 427 | 1045791 |
| Makalot Industrial Co. Ltd. | 32640 | 285465 |
| Tapestry, Inc. | 15856 | 1614458 |
|  |  | 3184170 |
| **Tobacco — 0.2%** | **Tobacco — 0.2%** | **Tobacco — 0.2%** |
| Imperial Brands PLC | 16920 | 714577 |
| Japan Tobacco, Inc. | 25900 | 823495 |
| Philip Morris International, Inc. | 10972 | 1833751 |
|  |  | 3371823 |
| **Trading Companies & Distributors — 0.0%** | **Trading Companies & Distributors — 0.0%** | **Trading Companies & Distributors — 0.0%** |
| Applied Industrial Technologies, Inc. | 297 | 78284 |
| Mitsui & Co. Ltd. | 1600 | 36834 |
| Sumitomo Corp. | 19100 | 534903 |
|  |  | 650021 |
| **Water Utilities — 0.0%** | **Water Utilities — 0.0%** | **Water Utilities — 0.0%** |
| Cia de Saneamento de Minas Gerais Copasa MG | 18447 | 102206 |
| Guangdong Investment Ltd. | 32000 | 30098 |
| United Utilities Group PLC | 41277 | 641282 |
|  |  | 773586 |
| **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** | **Wireless Telecommunication Services — 0.3%** |
| MTN Group Ltd. | 74110 | 629562 |
| SK Telecom Co. Ltd. | 22513 | 877687 |
| SoftBank Corp. | 833800 | 1289790 |
| SoftBank Group Corp. | 1100 | 118123 |
| Tele2 AB, B Shares | 3973 | 69973 |
| T-Mobile U.S., Inc. | 3315 | 835347 |
| Vodafone Group PLC | 1033587 | 1237642 |
|  |  | 5058124 |
| **Total Common Stocks — 57.0%** <br>**(Cost: $645,517,366)** | **Total Common Stocks — 57.0%** <br>**(Cost: $645,517,366)** | 973480548 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** | **Corporate Bonds** |
| **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** | **Aerospace & Defense — 0.1%** |
| General Electric Co., 4.90%, 01/29/36 | USD  | 335 | 336464 |
| TransDigm, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 12/01/31<sup>(c)</sup> |  | 166 | 173032 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/32<sup>(c)</sup> |  | 59 | 60752 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/33<sup>(c)</sup> |  | 311 | 315133 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/31/34<sup>(c)</sup> |  | 15 | 15391 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/31/34<sup>(c)</sup> |  | 40 | 41290 |
|  |  |  | 942062 |
| **Automobile Components — 0.0%** | **Automobile Components — 0.0%** | **Automobile Components — 0.0%** | **Automobile Components — 0.0%** |
| Belron UK Finance PLC, 5.75%, 10/15/29<sup>(c)</sup> |  | 200 | 202552 |
| &nbsp;&nbsp;&nbsp; Garrett Motion Holdings, Inc./Garrett LX I S.a.r.l., <br> 7.75%, 05/31/32<sup>(c)</sup><br>|  | 200 | 209132 |
| IHO Verwaltungs GmbH |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7.75% Cash or 8.50% PIK), 7.75%, <br> 11/15/30<sup>(c)(d)</sup><br>|  | 33 | 34313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8.00% Cash or 8.75% PIK), 8.00%, <br> 11/15/32<sup>(c)(d)</sup><br>|  | 25 | 26102 |
| Patrick Industries, Inc., 6.38%, 11/01/32<sup>(c)</sup> |  | 69 | 69994 |
| Phinia, Inc., 6.63%, 10/15/32<sup>(c)</sup> |  | 61 | 62649 |
|  |  |  | 604742 |
| **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** | **Automobiles — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aston Martin Capital Holdings Ltd., 10.00%, <br> 03/31/29<sup>(c)</sup><br>|  | 338 | 328805 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Automobiles (continued)** | **Automobiles (continued)** | **Automobiles (continued)** | **Automobiles (continued)** |
| Honda Motor Co. Ltd., 2.53%, 03/10/27 | USD  | 1000 | $976557 |
| New Flyer Holdings, Inc., 9.25%, 07/01/30<sup>(c)</sup> |  | 238 | 255302 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC, 6.95%, <br> 09/15/26<sup>(c)</sup><br>|  | 52 | 52351 |
| Nissan Motor Co. Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 07/17/30<sup>(c)</sup> |  | 305 | 318662 |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/17/32<sup>(c)</sup> |  | 175 | 183316 |
| &nbsp;&nbsp;&nbsp; 8.13%, 07/17/35<sup>(c)</sup> |  | 70 | 74165 |
|  |  |  | 2189158 |
| **Banks — 3.1%** | **Banks — 3.1%** | **Banks — 3.1%** | **Banks — 3.1%** |
| &nbsp;&nbsp;&nbsp; Banco Bilbao Vizcaya Argentaria SA, 6.14%, <br> 09/14/28<br>|  | 1800 | 1863507 |
| Banco Santander SA |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.18%, 03/24/28 |  | 1000 | 998386 |
| &nbsp;&nbsp;&nbsp; 5.59%, 08/08/28 |  | 1800 | 1871547 |
| &nbsp;&nbsp;&nbsp; 6.61%, 11/07/28 |  | 1600 | 1712291 |
| Bank of America Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.55%, 02/04/28 |  | 1150 | 1123747 |
| &nbsp;&nbsp;&nbsp; 3.19%, 07/23/30 |  | 370 | 355351 |
| &nbsp;&nbsp;&nbsp; 2.50%, 02/13/31 |  | 150 | 138546 |
| &nbsp;&nbsp;&nbsp; 2.69%, 04/22/32 |  | 1200 | 1088623 |
| &nbsp;&nbsp;&nbsp; 4.57%, 04/27/33 |  | 1300 | 1286534 |
| &nbsp;&nbsp;&nbsp; 5.51%, 01/24/36 |  | 1165 | 1200175 |
| &nbsp;&nbsp;&nbsp; 5.74%, 02/12/36 |  | 690 | 706930 |
| Bank of Montreal, 5.20%, 02/01/28 |  | 1180 | 1210962 |
| Citigroup, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.67%, 01/29/31 |  | 1550 | 1437667 |
| &nbsp;&nbsp;&nbsp; 4.41%, 03/31/31 |  | 1670 | 1666287 |
| &nbsp;&nbsp;&nbsp; 2.57%, 06/03/31 |  | 2140 | 1964544 |
| &nbsp;&nbsp;&nbsp; 3.79%, 03/17/33 |  | 1570 | 1475134 |
| Fifth Third Bancorp, 6.34%, 07/27/29 |  | 90 | 94997 |
| HSBC Holdings PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.87%, 11/18/35 |  | 640 | 657123 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/03/36 |  | 500 | 508128 |
| &nbsp;&nbsp;&nbsp; 5.79%, 05/13/36 |  | 4400 | 4577785 |
| ING Groep NV, 4.02%, 03/28/28 |  | 2300 | 2291648 |
| JPMorgan Chase & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.85%, 07/25/28 |  | 1410 | 1427451 |
| &nbsp;&nbsp;&nbsp; 2.52%, 04/22/31 |  | 2000 | 1848026 |
| &nbsp;&nbsp;&nbsp; 2.96%, 05/13/31 |  | 2595 | 2422560 |
| &nbsp;&nbsp;&nbsp; 1.76%, 11/19/31 |  | 505 | 443581 |
| &nbsp;&nbsp;&nbsp; 2.96%, 01/25/33 |  | 790 | 716626 |
| &nbsp;&nbsp;&nbsp; 5.35%, 06/01/34 |  | 872 | 900251 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc., 2.34%, <br> 01/19/28<br>|  | 1250 | 1217419 |
| Mizuho Financial Group, Inc., 1.55%, 07/09/27 |  | 1850 | 1807336 |
| Morgan Stanley Bank N.A., 4.45%, 10/15/27 |  | 900 | 900727 |
| PNC Financial Services Group, Inc. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.30%, 01/21/28 |  | 610 | 619370 |
| &nbsp;&nbsp;&nbsp; 5.37%, 07/21/36 |  | 285 | 289620 |
| Royal Bank of Canada, 5.20%, 08/01/28 |  | 1460 | 1508055 |
| Santander Holdings U.S.A., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/09/29 |  | 2670 | 2794843 |
| &nbsp;&nbsp;&nbsp; 6.57%, 06/12/29 |  | 890 | 936050 |
| &nbsp;&nbsp;&nbsp; 6.34%, 05/31/35 |  | 1060 | 1126408 |
| &nbsp;&nbsp;&nbsp; Santander UK Group Holdings PLC, 6.53%, <br> 01/10/29<br>|  | 2420 | 2535008 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc., 1.90%, <br> 09/17/28<br>|  | 1310 | 1226189 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank. (The), Series FXD, 1.95%, <br> 01/12/27<br>|  | 1310 | 1272983 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| U.S. Bancorp |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.68%, 01/23/35 | USD  | 130 | $135479 |
| &nbsp;&nbsp;&nbsp; 5.42%, 02/12/36 |  | 850 | 869785 |
|  |  |  | 53227679 |
| **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** | **Beverages — 0.6%** |
| Coca-Cola Co. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 03/05/51 |  | 5180 | 3423145 |
| &nbsp;&nbsp;&nbsp; 2.50%, 03/15/51 |  | 770 | 455865 |
| &nbsp;&nbsp;&nbsp; 5.20%, 01/14/55 |  | 303 | 286572 |
| Diageo Capital PLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 04/29/30 |  | 1820 | 1655177 |
| &nbsp;&nbsp;&nbsp; 2.13%, 04/29/32 |  | 960 | 826274 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/24/33 |  | 3930 | 4119696 |
|  |  |  | 10766729 |
| **Biotechnology — 0.3%** | **Biotechnology — 0.3%** | **Biotechnology — 0.3%** | **Biotechnology — 0.3%** |
| Amgen, Inc., 2.20%, 02/21/27 |  | 650 | 632728 |
| Gilead Sciences, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/15/33 |  | 570 | 592121 |
| &nbsp;&nbsp;&nbsp; 5.55%, 10/15/53 |  | 720 | 704256 |
| Regeneron Pharmaceuticals, Inc., 1.75%, 09/15/30 |  | 4076 | 3587422 |
|  |  |  | 5516527 |
| **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** | **Broadline Retail — 0.1%** |
| Kohl's Corp., 10.00%, 06/01/30<sup>(c)</sup> |  | 139 | 149281 |
| Macy's Retail Holdings LLC, 7.38%, 08/01/33<sup>(c)</sup> |  | 75 | 77009 |
| Nordstrom, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/01/30 |  | 202 | 186028 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/44 |  | 162 | 110085 |
| Rakuten Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 11.25%, 02/15/27<sup>(c)</sup> |  | 200 | 216249 |
| &nbsp;&nbsp;&nbsp; 9.75%, 04/15/29<sup>(c)</sup> |  | 300 | 333283 |
|  |  |  | 1071935 |
| **Building Products — 0.1%** | **Building Products — 0.1%** | **Building Products — 0.1%** | **Building Products — 0.1%** |
| Carlisle Cos., Inc., 5.55%, 09/15/40 |  | 270 | 270239 |
| Owens Corning |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 08/15/26 |  | 350 | 346907 |
| &nbsp;&nbsp;&nbsp; 4.30%, 07/15/47 |  | 1430 | 1160329 |
|  |  |  | 1777475 |
| **Capital Markets — 1.5%** | **Capital Markets — 1.5%** | **Capital Markets — 1.5%** | **Capital Markets — 1.5%** |
| Ares Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 06/15/27 |  | 520 | 506742 |
| &nbsp;&nbsp;&nbsp; 2.88%, 06/15/28 |  | 680 | 649042 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The), 4.71%, <br> 02/01/34<br>|  | 630 | 627814 |
| Deutsche Bank AG |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.71%, 02/08/28 |  | 260 | 264835 |
| &nbsp;&nbsp;&nbsp; 6.82%, 11/20/29 |  | 190 | 203598 |
| &nbsp;&nbsp;&nbsp; 5.40%, 09/11/35 |  | 621 | 625555 |
| FactSet Research Systems, Inc., 2.90%, 03/01/27 |  | 3000 | 2943382 |
| Freedom Mortgage Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 12.00%, 10/01/28<sup>(c)</sup> |  | 55 | 58742 |
| &nbsp;&nbsp;&nbsp; 12.25%, 10/01/30<sup>(c)</sup> |  | 76 | 84290 |
| FS KKR Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 01/15/27 |  | 445 | 431558 |
| &nbsp;&nbsp;&nbsp; 3.13%, 10/12/28 |  | 1130 | 1038864 |
| &nbsp;&nbsp;&nbsp; 6.13%, 01/15/30 |  | 528 | 524385 |
| Goldman Sachs Group, Inc. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.60%, 02/07/30 |  | 1220 | 1140927 |
| &nbsp;&nbsp;&nbsp; 1.99%, 01/27/32 |  | 366 | 321473 |
| &nbsp;&nbsp;&nbsp; 2.62%, 04/22/32 |  | 469 | 423275 |
| &nbsp;&nbsp;&nbsp; 2.38%, 07/21/32 |  | 4045 | 3583045 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Goldman Sachs Group, Inc. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.10%, 02/24/33 | USD  | 1095 | $995712 |
| &nbsp;&nbsp;&nbsp; 4.02%, 10/31/38 |  | 442 | 388779 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance, Inc., 6.75%, <br> 05/01/33<sup>(c)</sup><br>|  | 140 | 144670 |
| LPL Holdings, Inc., 5.65%, 03/15/35 |  | 830 | 838921 |
| Morgan Stanley |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.48%, 01/21/28 |  | 950 | 927320 |
| &nbsp;&nbsp;&nbsp; 2.70%, 01/22/31 |  | 205 | 191056 |
| &nbsp;&nbsp;&nbsp; 1.79%, 02/13/32 |  | 3020 | 2619476 |
| &nbsp;&nbsp;&nbsp; 2.51%, 10/20/32 |  | 1355 | 1202349 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/21/34 |  | 1245 | 1271039 |
| &nbsp;&nbsp;&nbsp; 5.42%, 07/21/34 |  | 2585 | 2668840 |
| Osaic Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/32<sup>(c)</sup> |  | 25 | 25473 |
| &nbsp;&nbsp;&nbsp; 8.00%, 08/01/33<sup>(c)</sup> |  | 10 | 10132 |
| StoneX Escrow Issuer LLC, 6.88%, 07/15/32<sup>(c)</sup> |  | 80 | 82231 |
| StoneX Group, Inc., 7.88%, 03/01/31<sup>(c)</sup> |  | 203 | 214585 |
| UBS AG, 1.25%, 08/07/26 |  | 430 | 418664 |
| UBS Group AG, 3.09%, 05/14/32<sup>(c)</sup> |  | 200 | 184087 |
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co-Issuer, Inc., 7.50%, <br> 06/15/31<sup>(c)</sup><br>|  | 116 | 121761 |
|  |  |  | 25732622 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| Ecolab, Inc., 2.70%, 12/15/51 |  | 760 | 462992 |
| NOVA Chemicals Corp., 9.00%, 02/15/30<sup>(c)</sup> |  | 28 | 30075 |
| Rain Carbon, Inc., 12.25%, 09/01/29<sup>(c)</sup> |  | 93 | 99846 |
| Sherwin-Williams Co. (The), 5.15%, 08/15/35 |  | 1220 | 1228897 |
| &nbsp;&nbsp;&nbsp; SK Invictus Intermediate II S.a.r.l., 5.00%, <br> 10/30/29<sup>(c)</sup><br>|  | 104 | 101906 |
|  |  |  | 1923716 |
| **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** | **Commercial Services & Supplies — 0.1%** |
| Deluxe Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/01/29<sup>(c)</sup> |  | 28 | 27727 |
| &nbsp;&nbsp;&nbsp; 8.13%, 09/15/29<sup>(c)</sup> |  | 94 | 97925 |
| Pitney Bowes, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/27<sup>(c)</sup> |  | 7 | 7021 |
| &nbsp;&nbsp;&nbsp; 7.25%, 03/15/29<sup>(c)</sup> |  | 69 | 69333 |
| Republic Services, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/15/30 |  | 120 | 123189 |
| &nbsp;&nbsp;&nbsp; 5.20%, 11/15/34 |  | 495 | 507906 |
| Waste Connections, Inc., 5.25%, 09/01/35 |  | 945 | 966248 |
|  |  |  | 1799349 |
| **Communications Equipment — 0.3%** | **Communications Equipment — 0.3%** | **Communications Equipment — 0.3%** | **Communications Equipment — 0.3%** |
| Cisco Systems, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 02/24/32 |  | 90 | 92954 |
| &nbsp;&nbsp;&nbsp; 5.30%, 02/26/54 |  | 325 | 312549 |
| CommScope LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 03/01/27<sup>(c)</sup> |  | 97 | 98163 |
| &nbsp;&nbsp;&nbsp; 9.50%, 12/15/31<sup>(c)</sup> |  | 147 | 152026 |
| Motorola Solutions, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.30%, 11/15/30 |  | 600 | 539822 |
| &nbsp;&nbsp;&nbsp; 2.75%, 05/24/31 |  | 1990 | 1814075 |
| &nbsp;&nbsp;&nbsp; 5.60%, 06/01/32 |  | 1250 | 1305840 |
| &nbsp;&nbsp;&nbsp; 5.40%, 04/15/34 |  | 720 | 739440 |
| Viasat, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/28<sup>(c)</sup> |  | 192 | 186675 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/30/31<sup>(c)</sup> |  | 293 | 275049 |
|  |  |  | 5516593 |
| **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** | **Construction & Engineering — 0.3%** |
| AECOM, 6.00%, 08/01/33<sup>(c)</sup> |  | 160 | 163305 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Construction & Engineering (continued)** | **Construction & Engineering (continued)** | **Construction & Engineering (continued)** | **Construction & Engineering (continued)** |
| &nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp., 5.25%, <br> 06/01/29<sup>(c)</sup><br>| USD  | 48 | $46137 |
| HTA Group Ltd., 7.50%, 06/04/29<sup>(c)</sup> |  | 200 | 207000 |
| Quanta Services, Inc., 2.90%, 10/01/30 |  | 4150 | 3867660 |
| Tutor Perini Corp., 11.88%, 04/30/29<sup>(c)</sup> |  | 127 | 142583 |
|  |  |  | 4426685 |
| **Construction Materials — 0.1%** | **Construction Materials — 0.1%** | **Construction Materials — 0.1%** | **Construction Materials — 0.1%** |
| CRH America Finance, Inc., 5.50%, 01/09/35 |  | 1050 | 1083200 |
| Martin Marietta Materials, Inc., 5.15%, 12/01/34 |  | 530 | 533118 |
|  |  |  | 1616318 |
| **Consumer Finance — 0.8%** | **Consumer Finance — 0.8%** | **Consumer Finance — 0.8%** | **Consumer Finance — 0.8%** |
| Ally Financial, Inc., 6.65%, 01/17/40 |  | 209 | 207412 |
| American Express Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.55%, 03/04/27 |  | 700 | 684716 |
| &nbsp;&nbsp;&nbsp; 5.28%, 07/27/29 |  | 1020 | 1052416 |
| &nbsp;&nbsp;&nbsp; 5.04%, 05/01/34 |  | 450 | 457157 |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/28/34 |  | 160 | 165286 |
| &nbsp;&nbsp;&nbsp; 5.44%, 01/30/36 |  | 290 | 298089 |
| Atlanticus Holdings Corp., 9.75%, 09/01/30<sup>(c)</sup> |  | 275 | 273550 |
| Bread Financial Holdings, Inc., 9.75%, 03/15/29<sup>(c)</sup> |  | 57 | 60911 |
| Burford Capital Global Finance LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/30<sup>(c)</sup> |  | 35 | 35122 |
| &nbsp;&nbsp;&nbsp; 9.25%, 07/01/31<sup>(c)</sup> |  | 156 | 166064 |
| Capital One Financial Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.62%, 10/30/31 |  | 3250 | 3687353 |
| &nbsp;&nbsp;&nbsp; 5.27%, 05/10/33 |  | 340 | 345811 |
| &nbsp;&nbsp;&nbsp; 5.82%, 02/01/34 |  | 700 | 728645 |
| &nbsp;&nbsp;&nbsp; 7.96%, 11/02/34 |  | 1700 | 1989135 |
| Credit Acceptance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 12/15/28<sup>(c)</sup> |  | 153 | 161520 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/30<sup>(c)</sup> |  | 90 | 91164 |
| Enova International, Inc., 9.13%, 08/01/29<sup>(c)</sup> |  | 174 | 183476 |
| EZCORP, Inc., 7.38%, 04/01/32<sup>(c)</sup> |  | 45 | 47447 |
| goeasy Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 12/01/28<sup>(c)</sup> |  | 121 | 127338 |
| &nbsp;&nbsp;&nbsp; 7.63%, 07/01/29<sup>(c)</sup> |  | 120 | 124268 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/30<sup>(c)</sup> |  | 95 | 97880 |
| OneMain Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/28 |  | 174 | 178398 |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/29 |  | 104 | 106942 |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/15/30 |  | 173 | 183031 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/31 |  | 178 | 186595 |
| SLM Corp., 6.50%, 01/31/30 |  | 100 | 104667 |
| Synchrony Financial |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/28/31 |  | 2180 | 1933150 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/02/33 |  | 149 | 157015 |
|  |  |  | 13834558 |
| **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** | **Consumer Staples Distribution & Retail — 0.1%** |
| Kroger Co. (The), 5.00%, 09/15/34 |  | 365 | 363789 |
| U.S. Foods, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/32<sup>(c)</sup> |  | 177 | 185849 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/15/33<sup>(c)</sup> |  | 123 | 123402 |
| United Natural Foods, Inc., 6.75%, 10/15/28<sup>(c)</sup> |  | 216 | 215587 |
| Walmart, Inc., 4.90%, 04/28/35 |  | 1490 | 1513330 |
|  |  |  | 2401957 |
| **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** | **Diversified Consumer Services — 0.0%** |
| Adtalem Global Education, Inc., 5.50%, 03/01/28<sup>(c)</sup> |  | 42 | 41824 |
| **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** | **Diversified REITs — 0.2%** |
| American Tower Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.45%, 09/15/26 |  | 425 | 412758 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Diversified REITs (continued)** | **Diversified REITs (continued)** | **Diversified REITs (continued)** | **Diversified REITs (continued)** |
| American Tower Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.80%, 11/15/28 | USD  | 25 | $26134 |
| Crown Castle, Inc., 3.65%, 09/01/27 |  | 900 | 888898 |
| Equinix, Inc., 1.45%, 05/15/26 |  | 1000 | 979355 |
| Iron Mountain, Inc., 7.00%, 02/15/29<sup>(c)</sup> |  | 116 | 119487 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance, Inc./CSL <br> Capital LLC<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 10.50%, 02/15/28<sup>(c)</sup> |  | 261 | 274632 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/29<sup>(c)</sup> |  | 73 | 69525 |
|  |  |  | 2770789 |
| **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** | **Diversified Telecommunication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Connect Finco S.a.r.l./Connect U.S. Finco LLC, <br> 9.00%, 09/15/29<sup>(c)</sup><br>|  | 200 | 208366 |
| GCI LLC, 4.75%, 10/15/28<sup>(c)</sup> |  | 100 | 97388 |
| Koninklijke KPN NV, 8.38%, 10/01/30 |  | 450 | 528653 |
| Level 3 Financing, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/01/28<sup>(c)</sup> |  | 147 | 134872 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33<sup>(c)</sup> |  | 275 | 277468 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34<sup>(c)</sup> |  | 95 | 95645 |
| Telecom Italia Capital SA |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/30/34 |  | 62 | 61758 |
| &nbsp;&nbsp;&nbsp; 7.20%, 07/18/36 |  | 81 | 85739 |
| &nbsp;&nbsp;&nbsp; 7.72%, 06/04/38 |  | 82 | 89479 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow <br> Finance Corp., 8.25%, 10/01/31<sup>(c)</sup><br>|  | 145 | 150826 |
|  |  |  | 1730194 |
| **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** | **Electric Utilities — 0.6%** |
| Avangrid, Inc., 3.80%, 06/01/29 |  | 500 | 491492 |
| Commonwealth Edison Co., 4.90%, 02/01/33 |  | 1590 | 1611833 |
| Eversource Energy |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.90%, 03/01/27 |  | 1000 | 981950 |
| &nbsp;&nbsp;&nbsp; 3.38%, 03/01/32 |  | 750 | 687707 |
| &nbsp;&nbsp;&nbsp; Series U, 1.40%, 08/15/26 |  | 200 | 194526 |
| Exelon Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 03/15/27 |  | 550 | 538777 |
| &nbsp;&nbsp;&nbsp; 3.35%, 03/15/32 |  | 350 | 324943 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/15/34 |  | 270 | 278282 |
| NRG Energy, Inc., 6.25%, 11/01/34<sup>(c)</sup> |  | 70 | 71767 |
| NSTAR Electric Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 05/15/29 |  | 1000 | 970509 |
| &nbsp;&nbsp;&nbsp; 3.95%, 04/01/30 |  | 1000 | 991137 |
| &nbsp;&nbsp;&nbsp; Public Service Co. of New Hampshire, 5.15%, <br> 01/15/53<br>|  | 360 | 332218 |
| Public Service Electric & Gas Co., 5.20%, 08/01/33 |  | 2410 | 2490668 |
| Tampa Electric Co., 5.15%, 03/01/35 |  | 670 | 675385 |
| Vistra Operations Co. LLC, 7.75%, 10/15/31<sup>(c)</sup> |  | 86 | 91373 |
|  |  |  | 10732567 |
| **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** |
| NXP BV/NXP Funding LLC, 5.55%, 12/01/28 |  | 850 | 880302 |
| WESCO Distribution, Inc., 6.38%, 03/15/33<sup>(c)</sup> |  | 105 | 108908 |
|  |  |  | 989210 |
| **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** | **Electronic Equipment, Instruments & Components — 0.2%** |
| Allegion U.S. Holding Co., Inc., 3.55%, 10/01/27 |  | 45 | 44298 |
| Arrow Electronics, Inc., 5.88%, 04/10/34 |  | 770 | 798510 |
| Keysight Technologies, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.60%, 04/06/27 |  | 1250 | 1255723 |
| &nbsp;&nbsp;&nbsp; 3.00%, 10/30/29 |  | 1150 | 1091783 |
| &nbsp;&nbsp;&nbsp; 4.95%, 10/15/34 |  | 95 | 94250 |
|  |  |  | 3284564 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** | **Energy Equipment & Services — 0.3%** |
| Chevron U.S.A., Inc., 4.98%, 04/15/35 | USD  | 1905 | $1936566 |
| Oceaneering International, Inc., 6.00%, 02/01/28 |  | 14 | 14145 |
| Pentair Finance S.a.r.l. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/01/29 |  | 1580 | 1587732 |
| &nbsp;&nbsp;&nbsp; 5.90%, 07/15/32 |  | 740 | 779971 |
| Tidewater, Inc., 9.13%, 07/15/30<sup>(c)</sup> |  | 35 | 37345 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(c)</sup> |  | 122 | 127013 |
| Vallourec SACA, 7.50%, 04/15/32<sup>(c)</sup> |  | 95 | 100888 |
| Viridien, 10.00%, 10/15/30<sup>(c)</sup> |  | 100 | 99933 |
|  |  |  | 4683593 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(c)</sup> |  | 158 | 163773 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier <br> Entertainment Finance Corp.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/01/29<sup>(c)</sup> |  | 163 | 94947 |
| &nbsp;&nbsp;&nbsp; 5.88%, 09/01/31<sup>(c)</sup> |  | 22 | 12760 |
| &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC/RWLV Capital, Inc., <br> 8.45%, 07/27/30<sup>(c)</sup><br>|  | 81 | 81267 |
|  |  |  | 352747 |
| **Financial Services — 0.4%** | **Financial Services — 0.4%** | **Financial Services — 0.4%** | **Financial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust, 4.95%, 09/10/34<br>|  | 1140 | 1124490 |
| Coinbase Global, Inc., 3.38%, 10/01/28<sup>(c)</sup> |  | 188 | 178387 |
| CPI CG, Inc., 10.00%, 07/15/29<sup>(c)</sup> |  | 118 | 123517 |
| Freedom Mortgage Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 02/01/29<sup>(c)</sup> |  | 125 | 130637 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/15/31<sup>(c)</sup> |  | 125 | 131488 |
| &nbsp;&nbsp;&nbsp; 8.38%, 04/01/32<sup>(c)</sup> |  | 35 | 36098 |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP/Icahn Enterprises Finance <br> Corp.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/29 |  | 185 | 183909 |
| &nbsp;&nbsp;&nbsp; 10.00%, 11/15/29<sup>(c)</sup> |  | 221 | 218764 |
| &nbsp;&nbsp;&nbsp; 9.00%, 06/15/30 |  | 65 | 61921 |
| MGIC Investment Corp., 5.25%, 08/15/28 |  | 2930 | 2931169 |
| Nationstar Mortgage Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/29<sup>(c)</sup> |  | 120 | 122857 |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/15/30<sup>(c)</sup> |  | 312 | 315082 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/01/32<sup>(c)</sup> |  | 69 | 71735 |
| PennyMac Financial Services, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/15/29<sup>(c)</sup> |  | 28 | 29761 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/30<sup>(c)</sup> |  | 110 | 113939 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/32<sup>(c)</sup> |  | 80 | 81907 |
| &nbsp;&nbsp;&nbsp; 6.88%, 02/15/33<sup>(c)</sup> |  | 125 | 127719 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34<sup>(c)</sup> |  | 35 | 35239 |
| RELX Capital, Inc., 5.25%, 03/27/35 |  | 110 | 112373 |
| Rocket Cos., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/01/30<sup>(c)</sup> |  | 95 | 97750 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/33<sup>(c)</sup> |  | 105 | 108961 |
| UWM Holdings LLC, 6.63%, 02/01/30<sup>(c)</sup> |  | 138 | 140190 |
|  |  |  | 6477893 |
| **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** | **Food Products — 0.2%** |
| &nbsp;&nbsp;&nbsp; HLF Financing S.a.r.l. LLC/Herbalife International, <br> Inc.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 12.25%, 04/15/29<sup>(c)</sup> |  | 145 | 157329 |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/01/29<sup>(c)</sup> |  | 74 | 64793 |
| Kellanova |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 11/15/27 |  | 670 | 660849 |
| &nbsp;&nbsp;&nbsp; 4.30%, 05/15/28 |  | 3000 | 3018845 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Food Products (continued)** | **Food Products (continued)** | **Food Products (continued)** | **Food Products (continued)** |
| Post Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/33<sup>(c)</sup> | USD  | 157 | $158594 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/34<sup>(c)</sup> |  | 93 | 93551 |
|  |  |  | 4153961 |
| **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** |
| AmeriGas Partners LP/AmeriGas Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/20/27 |  | 138 | 137710 |
| &nbsp;&nbsp;&nbsp; 9.38%, 06/01/28<sup>(c)</sup> |  | 107 | 110422 |
| &nbsp;&nbsp;&nbsp; 9.50%, 06/01/30<sup>(c)</sup> |  | 85 | 89040 |
| National Fuel Gas Co., 5.95%, 03/15/35 |  | 2035 | 2099246 |
| ONE Gas, Inc., 4.25%, 09/01/32 |  | 155 | 150644 |
|  |  |  | 2587062 |
| **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** | **Ground Transportation — 0.1%** |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget Finance, <br> Inc.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 01/15/30<sup>(c)</sup> |  | 117 | 121109 |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/15/31<sup>(c)</sup> |  | 61 | 62939 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/15/32<sup>(c)</sup> |  | 59 | 61583 |
| Canadian National Railway Co., 3.85%, 08/05/32 |  | 575 | 549609 |
| CSX Corp., 4.90%, 03/15/55 |  | 60 | 53109 |
| Hertz Corp. (The), 12.63%, 07/15/29<sup>(c)</sup> |  | 53 | 55078 |
| Ryder System, Inc., 6.30%, 12/01/28 |  | 1120 | 1191497 |
|  |  |  | 2094924 |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |
| Bausch + Lomb Corp., 8.38%, 10/01/28<sup>(c)</sup> |  | 194 | 202080 |
| Insulet Corp., 6.50%, 04/01/33<sup>(c)</sup> |  | 185 | 191799 |
| Zimmer Biomet Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.70%, 02/19/27 |  | 40 | 40284 |
| &nbsp;&nbsp;&nbsp; 5.35%, 12/01/28 |  | 140 | 144977 |
|  |  |  | 579140 |
| **Health Care Providers & Services — 1.3%** | **Health Care Providers & Services — 1.3%** | **Health Care Providers & Services — 1.3%** | **Health Care Providers & Services — 1.3%** |
| Cardinal Health, Inc., 5.35%, 11/15/34 |  | 740 | 751544 |
| Cencora, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.70%, 03/15/31 |  | 2050 | 1878652 |
| &nbsp;&nbsp;&nbsp; 4.30%, 12/15/47 |  | 1280 | 1036605 |
| Cigna Group (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 10/15/28 |  | 990 | 995368 |
| &nbsp;&nbsp;&nbsp; 5.25%, 02/15/34 |  | 590 | 601665 |
| CVS Health Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 09/15/32 |  | 300 | 301379 |
| &nbsp;&nbsp;&nbsp; 5.45%, 09/15/35 |  | 600 | 601347 |
| DaVita, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/01/30<sup>(c)</sup> |  | 114 | 109751 |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/01/32<sup>(c)</sup> |  | 236 | 244150 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/33<sup>(c)</sup> |  | 75 | 77732 |
| HCA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/15/26 |  | 850 | 851488 |
| &nbsp;&nbsp;&nbsp; 3.13%, 03/15/27 |  | 440 | 432881 |
| &nbsp;&nbsp;&nbsp; 5.20%, 06/01/28 |  | 590 | 604333 |
| &nbsp;&nbsp;&nbsp; 5.45%, 04/01/31 |  | 780 | 809619 |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/15/32 |  | 1129 | 1050017 |
| &nbsp;&nbsp;&nbsp; 5.60%, 04/01/34 |  | 985 | 1012379 |
| &nbsp;&nbsp;&nbsp; 5.45%, 09/15/34 |  | 165 | 167114 |
| &nbsp;&nbsp;&nbsp; 5.90%, 06/01/53 |  | 330 | 315230 |
| Icon Investments Six DAC, 6.00%, 05/08/34 |  | 2380 | 2474013 |
| McKesson Corp., 5.10%, 07/15/33 |  | 2750 | 2817997 |
| MPH Acquisition Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 12/31/30<sup>(c)</sup> |  | 165 | 144324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.50% Cash and 5.00% PIK), 11.50%, <br> 12/31/30<sup>(c)(d)</sup><br>|  | 56 | 57285 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** | **Health Care Providers & Services (continued)** |
| MPH Acquisition Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6.00% Cash and 0.75% PIK), 6.75%, <br> 03/31/31<sup>(c)(d)</sup><br>| USD  | 133 | $107242 |
| Quest Diagnostics, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.60%, 12/15/27 |  | 980 | 990688 |
| &nbsp;&nbsp;&nbsp; 4.63%, 12/15/29 |  | 1200 | 1218483 |
| Tenet Healthcare Corp., 6.13%, 10/01/28 |  | 200 | 200144 |
| UnitedHealth Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.90%, 04/15/31 |  | 420 | 429609 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/15/33 |  | 640 | 627320 |
| &nbsp;&nbsp;&nbsp; 5.88%, 02/15/53 |  | 200 | 197633 |
| &nbsp;&nbsp;&nbsp; 5.05%, 04/15/53 |  | 1100 | 965450 |
|  |  |  | 22071442 |
| **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** | **Health Care REITs — 0.1%** |
| Diversified Healthcare Trust, 4.38%, 03/01/31 |  | 159 | 135021 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 5.00%, 10/15/27<br>|  | 151 | 143038 |
| Ventas Realty LP, 5.10%, 07/15/32 |  | 900 | 920904 |
| Welltower OP LLC, 4.50%, 07/01/30 |  | 1250 | 1261546 |
|  |  |  | 2460509 |
| **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** | **Hotels, Restaurants & Leisure — 0.1%** |
| Brinker International, Inc., 8.25%, 07/15/30<sup>(c)</sup> |  | 38 | 40406 |
| Darden Restaurants, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.35%, 10/15/27 |  | 305 | 306439 |
| &nbsp;&nbsp;&nbsp; 4.55%, 10/15/29 |  | 305 | 306086 |
| &nbsp;&nbsp;&nbsp; Genting New York LLC/GENNY Capital, Inc., 7.25%, <br> 10/01/29<sup>(c)</sup><br>|  | 66 | 68539 |
| Hyatt Hotels Corp., 5.38%, 12/15/31 |  | 40 | 40975 |
| Life Time, Inc., 6.00%, 11/15/31<sup>(c)</sup> |  | 122 | 123298 |
| Light & Wonder International, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 11/15/29<sup>(c)</sup> |  | 120 | 123108 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/01/31<sup>(c)</sup> |  | 176 | 183721 |
| Lindblad Expeditions LLC, 7.00%, 09/15/30<sup>(c)</sup> |  | 35 | 35844 |
| &nbsp;&nbsp;&nbsp; Raising Cane's Restaurants LLC, 9.38%, <br> 05/01/29<sup>(c)</sup><br>|  | 80 | 84329 |
| Viking Cruises Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/29<sup>(c)</sup> |  | 100 | 100682 |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/15/31<sup>(c)</sup> |  | 108 | 116360 |
|  |  |  | 1529787 |
| **Household Durables — 0.3%** | **Household Durables — 0.3%** | **Household Durables — 0.3%** | **Household Durables — 0.3%** |
| MDC Holdings, Inc., 3.97%, 08/06/61 |  | 360 | 229833 |
| NVR, Inc., 3.00%, 05/15/30 |  | 1930 | 1822284 |
| PulteGroup, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/27 |  | 1630 | 1642820 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/15/33 |  | 890 | 968471 |
| Whirlpool Corp., 6.13%, 06/15/30 |  | 60 | 60667 |
|  |  |  | 4724075 |
| **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** | **Household Products — 0.1%** |
| Colgate-Palmolive Co., 3.25%, 08/15/32 |  | 50 | 46708 |
| Unilever Capital Corp., 1.75%, 08/12/31 |  | 2140 | 1867565 |
|  |  |  | 1914273 |
| **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** | **Industrial Conglomerates — 0.4%** |
| 3M Co., 2.38%, 08/26/29 |  | 1330 | 1245758 |
| Honeywell International, Inc., 5.35%, 03/01/64 |  | 300 | 279429 |
| &nbsp;&nbsp;&nbsp; Trane Technologies Financing Ltd., 3.80%, <br> 03/21/29<br>|  | 4610 | 4565857 |
|  |  |  | 6091044 |
| **Insurance — 0.6%** | **Insurance — 0.6%** | **Insurance — 0.6%** | **Insurance — 0.6%** |
| &nbsp;&nbsp;&nbsp; Acrisure LLC/Acrisure Finance, Inc., 6.75%, <br> 07/01/32<sup>(c)</sup><br>|  | 45 | 46170 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Allstate Corp. (The), 3.85%, 08/10/49 | USD  | 510 | $383614 |
| &nbsp;&nbsp;&nbsp; American International Group, Inc., 4.85%, <br> 05/07/30<br>|  | 420 | 429717 |
| Assurant, Inc., 5.55%, 02/15/36 |  | 265 | 264826 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance, 7.13%, <br> 05/15/31<sup>(c)</sup><br>|  | 124 | 128693 |
| CNA Financial Corp., 5.20%, 08/15/35 |  | 400 | 395972 |
| Markel Group, Inc., 6.00%, 05/16/54 |  | 368 | 364934 |
| Marsh & McLennan Cos., Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.15%, 03/15/34 |  | 1300 | 1336032 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/15/53 |  | 800 | 764583 |
| &nbsp;&nbsp;&nbsp; 5.70%, 09/15/53 |  | 1030 | 1021363 |
| Progressive Corp. (The), 4.95%, 06/15/33 |  | 2060 | 2102025 |
| &nbsp;&nbsp;&nbsp; Stewart Information Services Corp., 3.60%, <br> 11/15/31<br>|  | 618 | 555824 |
| Willis North America, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.65%, 06/15/27 |  | 570 | 573706 |
| &nbsp;&nbsp;&nbsp; 5.35%, 05/15/33 |  | 730 | 750889 |
| &nbsp;&nbsp;&nbsp; 5.90%, 03/05/54 |  | 770 | 759210 |
|  |  |  | 9877558 |
| **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** |
| Alphabet, Inc., 4.50%, 05/15/35 |  | 1800 | 1785307 |
| Match Group Holdings II LLC, 6.13%, 09/15/33<sup>(c)</sup> |  | 165 | 166814 |
| Snap, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/33<sup>(c)</sup> |  | 241 | 243505 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/34<sup>(c)</sup> |  | 55 | 55144 |
|  |  |  | 2250770 |
| **IT Services — 1.1%** | **IT Services — 1.1%** | **IT Services — 1.1%** | **IT Services — 1.1%** |
| Accenture Capital, Inc., 4.50%, 10/04/34 |  | 80 | 78137 |
| Automatic Data Processing, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.70%, 05/15/28 |  | 5380 | 5091647 |
| &nbsp;&nbsp;&nbsp; 4.75%, 05/08/32 |  | 590 | 602527 |
| CGI, Inc., 2.30%, 09/14/31 |  | 2370 | 2083892 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Group LLC/Cogent <br> Finance, Inc., 7.00%, 06/15/27<sup>(c)</sup><br>|  | 187 | 186311 |
| CoreWeave, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 06/01/30<sup>(c)</sup> |  | 453 | 454624 |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/01/31<sup>(c)</sup> |  | 187 | 185129 |
| Fiserv, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/02/28 |  | 470 | 483460 |
| &nbsp;&nbsp;&nbsp; 5.60%, 03/02/33 |  | 970 | 1006451 |
| IBM International Capital Pte Ltd. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.90%, 02/05/34 |  | 2550 | 2555342 |
| &nbsp;&nbsp;&nbsp; 5.30%, 02/05/54 |  | 1540 | 1425868 |
| &nbsp;&nbsp;&nbsp; International Business Machines Corp., 2.20%, <br> 02/09/27<br>|  | 750 | 730700 |
| Mastercard, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/18/31 |  | 1450 | 1275066 |
| &nbsp;&nbsp;&nbsp; 3.85%, 03/26/50 |  | 1290 | 999125 |
| Sabre GLBL, Inc., 11.25%, 12/15/27<sup>(c)</sup> |  | 55 | 56650 |
| VeriSign, Inc., 5.25%, 06/01/32 |  | 205 | 209055 |
| Visa, Inc., 3.65%, 09/15/47 |  | 630 | 486568 |
|  |  |  | 17910552 |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| Amer Sports Co., 6.75%, 02/16/31<sup>(c)</sup> |  | 175 | 182591 |
| **Machinery — 0.0%** | **Machinery — 0.0%** | **Machinery — 0.0%** | **Machinery — 0.0%** |
| Cummins, Inc., 4.90%, 02/20/29 |  | 570 | 585793 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** | **Machinery (continued)** |
| Enpro, Inc., 6.13%, 06/01/33<sup>(c)</sup> | USD  | 35 | $35715 |
| Manitowoc Co., Inc. (The), 9.25%, 10/01/31<sup>(c)</sup> |  | 18 | 18945 |
|  |  |  | 640453 |
| **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** | **Media — 0.2%** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/01/29<sup>(c)</sup> |  | 30 | 30457 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(c)</sup> |  | 353 | 365248 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/32 |  | 69 | 63097 |
| CSC Holdings LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/27<sup>(c)</sup> |  | 110 | 105788 |
| &nbsp;&nbsp;&nbsp; 11.25%, 05/15/28<sup>(c)</sup> |  | 110 | 109936 |
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-<br> Obligor, Inc.<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/15/27<sup>(c)</sup> |  | 123 | 122385 |
| &nbsp;&nbsp;&nbsp; 10.00%, 02/15/31<sup>(c)</sup> |  | 306 | 304200 |
| Discovery Communications LLC, 5.00%, 09/20/37 |  | 90 | 66431 |
| EW Scripps Co. (The), 9.88%, 08/15/30<sup>(c)</sup> |  | 85 | 79903 |
| Fox Corp., 5.58%, 01/25/49 |  | 300 | 282829 |
| Gray Media, Inc., 9.63%, 07/15/32<sup>(c)</sup> |  | 20 | 20102 |
| iHeartCommunications, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/01/29<sup>(c)</sup> |  | 222 | 190207 |
| &nbsp;&nbsp;&nbsp; 10.88%, 05/01/30<sup>(c)</sup> |  | 219 | 129565 |
| &nbsp;&nbsp;&nbsp; Interpublic Group of Cos., Inc. (The), 4.65%, <br> 10/01/28<br>|  | 500 | 503850 |
| Nexstar Media, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/27<sup>(c)</sup> |  | 140 | 139848 |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/01/28<sup>(c)</sup> |  | 253 | 248348 |
| Paramount Global, 4.20%, 05/19/32 |  | 160 | 149250 |
| Sinclair Television Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/01/30<sup>(c)</sup> |  | 54 | 44415 |
| &nbsp;&nbsp;&nbsp; 4.38%, 12/31/32<sup>(c)</sup> |  | 120 | 85121 |
| &nbsp;&nbsp;&nbsp; 8.13%, 02/15/33<sup>(c)</sup> |  | 75 | 76838 |
| Sirius XM Radio LLC, 4.13%, 07/01/30<sup>(c)</sup> |  | 67 | 62297 |
| TEGNA, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/28 |  | 48 | 47602 |
| &nbsp;&nbsp;&nbsp; 5.00%, 09/15/29 |  | 7 | 7007 |
| Warnermedia Holdings, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.05%, 03/15/29 |  | 65 | 61750 |
| &nbsp;&nbsp;&nbsp; 4.28%, 03/15/32 |  | 75 | 64725 |
| &nbsp;&nbsp;&nbsp; 5.05%, 03/15/42 |  | 185 | 124644 |
|  |  |  | 3485843 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| Algoma Steel, Inc., 9.13%, 04/15/29<sup>(c)</sup> |  | 62 | 54960 |
| Century Aluminum Co., 6.88%, 08/01/32<sup>(c)</sup> |  | 122 | 124694 |
| Champion Iron Canada, Inc., 7.88%, 07/15/32<sup>(c)</sup> |  | 90 | 93927 |
| &nbsp;&nbsp;&nbsp; Compass Minerals International, Inc., 8.00%, <br> 07/01/30<sup>(c)</sup><br>|  | 59 | 61713 |
| Eldorado Gold Corp., 6.25%, 09/01/29<sup>(c)</sup> |  | 123 | 123461 |
| Fortescue Treasury Pty Ltd., 6.13%, 04/15/32<sup>(c)</sup> |  | 121 | 124187 |
| Ivanhoe Mines Ltd., 7.88%, 01/23/30<sup>(c)</sup> |  | 179 | 180802 |
| New Gold, Inc., 6.88%, 04/01/32<sup>(c)</sup> |  | 179 | 186584 |
| Novelis Corp., 6.88%, 01/30/30<sup>(c)</sup> |  | 80 | 83009 |
| Reliance, Inc., 2.15%, 08/15/30 |  | 50 | 44813 |
| Rio Tinto Finance U.S.A. PLC, 5.25%, 03/14/35 |  | 715 | 728394 |
| SunCoke Energy, Inc., 4.88%, 06/30/29<sup>(c)</sup> |  | 69 | 62989 |
| Taseko Mines Ltd., 8.25%, 05/01/30<sup>(c)</sup> |  | 131 | 137730 |
|  |  |  | 2007263 |
| **Mortgage Real Estate Investment Trusts (REITs) — 0.0%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.0%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.0%** | **Mortgage Real Estate Investment Trusts (REITs) — 0.0%** |
| Blackstone Mortgage Trust, Inc., 7.75%, 12/01/29<sup>(c)</sup> |  | 52 | 55448 |
| Starwood Property Trust, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 07/15/26<sup>(c)</sup> |  | 141 | 138843 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** |
| Starwood Property Trust, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/01/29<sup>(c)</sup> | USD  | 169 | $177104 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/30<sup>(c)</sup> |  | 75 | 77422 |
|  |  |  | 448817 |
| **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** | **Multi-Utilities — 0.0%** |
| American Water Capital Corp., 5.70%, 09/01/55 |  | 95 | 93487 |
| **Oil, Gas & Consumable Fuels — 1.1%** | **Oil, Gas & Consumable Fuels — 1.1%** | **Oil, Gas & Consumable Fuels — 1.1%** | **Oil, Gas & Consumable Fuels — 1.1%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United Finance Corp., <br> 7.50%, 10/01/29<sup>(c)</sup><br>|  | 42 | 43808 |
| California Resources Corp., 8.25%, 06/15/29<sup>(c)</sup> |  | 344 | 355413 |
| &nbsp;&nbsp;&nbsp; Cheniere Corpus Christi Holdings LLC, 3.70%, <br> 11/15/29<br>|  | 670 | 650855 |
| Cheniere Energy, Inc., 4.63%, 10/15/28 |  | 2890 | 2887733 |
| Chord Energy Corp., 6.75%, 03/15/33<sup>(c)</sup> |  | 110 | 112818 |
| CNX Midstream Partners LP, 4.75%, 04/15/30<sup>(c)</sup> |  | 55 | 52172 |
| ConocoPhillips Co., 5.00%, 01/15/35 |  | 1655 | 1654913 |
| CVR Energy, Inc., 8.50%, 01/15/29<sup>(c)</sup> |  | 29 | 29312 |
| Enbridge, Inc., 6.20%, 11/15/30 |  | 75 | 80742 |
| Global Partners LP/GLP Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/15/29 |  | 21 | 21282 |
| &nbsp;&nbsp;&nbsp; 8.25%, 01/15/32<sup>(c)</sup> |  | 197 | 207096 |
| Greenfire Resources Ltd., 12.00%, 10/01/28<sup>(c)</sup> |  | 52 | 54923 |
| Karoon U.S.A. Finance, Inc., 10.50%, 05/14/29<sup>(c)</sup> |  | 33 | 34161 |
| Kinder Morgan, Inc., 5.95%, 08/01/54 |  | 736 | 714078 |
| ONEOK, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.20%, 09/15/25 |  | 370 | 369682 |
| &nbsp;&nbsp;&nbsp; 5.85%, 01/15/26 |  | 1000 | 1003628 |
| &nbsp;&nbsp;&nbsp; 5.65%, 11/01/28 |  | 1630 | 1693191 |
| &nbsp;&nbsp;&nbsp; 6.35%, 01/15/31 |  | 1340 | 1439210 |
| &nbsp;&nbsp;&nbsp; 6.05%, 09/01/33 |  | 590 | 620773 |
| &nbsp;&nbsp;&nbsp; 7.15%, 01/15/51 |  | 430 | 460952 |
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC, 8.63%, <br> 10/31/29<sup>(c)</sup><br>|  | 86 | 85758 |
| Talos Production, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/01/29<sup>(c)</sup> |  | 118 | 121469 |
| &nbsp;&nbsp;&nbsp; 9.38%, 02/01/31<sup>(c)</sup> |  | 114 | 118136 |
| Targa Resources Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.15%, 03/01/29 |  | 2790 | 2943542 |
| &nbsp;&nbsp;&nbsp; 5.55%, 08/15/35 |  | 570 | 574144 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/53 |  | 750 | 766455 |
| TotalEnergies Capital SA, 5.49%, 04/05/54 |  | 510 | 485459 |
| Venture Global LNG, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/01/29<sup>(c)</sup> |  | 100 | 109941 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32<sup>(c)</sup> |  | 211 | 229753 |
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, 6.75%, <br> 01/15/36<sup>(c)</sup><br>|  | 100 | 104945 |
| Western Midstream Operating LP, 6.35%, 01/15/29 |  | 35 | 36812 |
|  |  |  | 18063156 |
| **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** | **Passenger Airlines — 0.0%** |
| American Airlines, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/28<sup>(c)</sup> |  | 218 | 223653 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/29<sup>(c)</sup> |  | 349 | 365733 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(c)</sup><br>|  | 195 | 193771 |
|  |  |  | 783157 |
| **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** | **Pharmaceuticals — 0.5%** |
| 1261229 BC Ltd., 10.00%, 04/15/32<sup>(c)</sup> |  | 240 | 249204 |
| Amneal Pharmaceuticals LLC, 6.88%, 08/01/32<sup>(c)</sup> |  | 55 | 56591 |
| Bausch Health Cos., Inc., 11.00%, 09/30/28<sup>(c)</sup> |  | 287 | 300991 |
| Eli Lilly & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.05%, 08/14/54 |  | 930 | 860636 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| Eli Lilly & Co. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.65%, 10/15/65 | USD  | 55 | $54538 |
| Merck & Co., Inc., 5.00%, 05/17/53 |  | 340 | 307881 |
| Novartis Capital Corp., 2.20%, 08/14/30 |  | 3030 | 2780341 |
| Zoetis, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/12/27 |  | 640 | 627188 |
| &nbsp;&nbsp;&nbsp; 2.00%, 05/15/30 |  | 2820 | 2555650 |
|  |  |  | 7793020 |
| **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** |
| CACI International, Inc., 6.38%, 06/15/33<sup>(c)</sup> |  | 181 | 186691 |
| GrubHub Holdings, Inc., 5.50%, 07/01/27<sup>(c)</sup> |  | 97 | 96666 |
|  |  |  | 283357 |
| **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** | **Real Estate Management & Development — 0.2%** |
| CBRE Services, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/01/29 |  | 1130 | 1171998 |
| &nbsp;&nbsp;&nbsp; 5.95%, 08/15/34 |  | 1830 | 1943560 |
| Howard Hughes Corp. (The), 5.38%, 08/01/28<sup>(c)</sup> |  | 150 | 149868 |
| Hudson Pacific Properties LP |  |  |  |
| &nbsp;&nbsp;&nbsp; 5.95%, 02/15/28 |  | 126 | 123260 |
| &nbsp;&nbsp;&nbsp; 4.65%, 04/01/29 |  | 136 | 124995 |
|  |  |  | 3513681 |
| **Semiconductors & Semiconductor Equipment — 1.0%** | **Semiconductors & Semiconductor Equipment — 1.0%** | **Semiconductors & Semiconductor Equipment — 1.0%** | **Semiconductors & Semiconductor Equipment — 1.0%** |
| ams-OSRAM AG, 12.25%, 03/30/29<sup>(c)</sup> |  | 174 | 188429 |
| Broadcom, Inc., 3.75%, 02/15/51<sup>(c)</sup> |  | 460 | 343515 |
| Intel Corp., 4.88%, 02/10/28 |  | 1610 | 1631188 |
| Lam Research Corp., 1.90%, 06/15/30 |  | 3810 | 3440709 |
| Marvell Technology, Inc., 5.95%, 09/15/33 |  | 65 | 68821 |
| NVIDIA Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.55%, 06/15/28 |  | 600 | 565403 |
| &nbsp;&nbsp;&nbsp; 2.00%, 06/15/31 |  | 4490 | 4017691 |
| &nbsp;&nbsp;&nbsp; 3.70%, 04/01/60 |  | 1580 | 1149697 |
| Texas Instruments, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.90%, 09/15/31 |  | 459 | 404125 |
| &nbsp;&nbsp;&nbsp; 3.65%, 08/16/32 |  | 3545 | 3374403 |
| &nbsp;&nbsp;&nbsp; 4.90%, 03/14/33 |  | 790 | 811224 |
| TSMC Arizona Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 04/22/32 |  | 1258 | 1256591 |
| &nbsp;&nbsp;&nbsp; 3.25%, 10/25/51 |  | 810 | 595042 |
|  |  |  | 17846838 |
| **Software — 1.1%** | **Software — 1.1%** | **Software — 1.1%** | **Software — 1.1%** |
| Adobe, Inc., 2.30%, 02/01/30 |  | 3570 | 3321237 |
| AppLovin Corp., 5.50%, 12/01/34 |  | 890 | 908429 |
| Cloud Software Group, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29<sup>(c)</sup> |  | 138 | 139518 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29<sup>(c)</sup> |  | 199 | 207443 |
| Dye & Durham Ltd., 8.63%, 04/15/29<sup>(c)</sup> |  | 100 | 104514 |
| Electronic Arts, Inc., 1.85%, 02/15/31 |  | 1000 | 878803 |
| Intuit, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.35%, 07/15/27 |  | 1000 | 954378 |
| &nbsp;&nbsp;&nbsp; 1.65%, 07/15/30 |  | 4690 | 4171427 |
| &nbsp;&nbsp;&nbsp; 5.20%, 09/15/33 |  | 300 | 311143 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/15/53 |  | 95 | 93183 |
| Oracle Corp., 5.50%, 08/03/35 |  | 2060 | 2099758 |
| Pagaya U.S. Holdings Co. LLC, 8.88%, 08/01/30<sup>(c)</sup> |  | 249 | 249641 |
| Roper Technologies, Inc., 5.10%, 09/15/35 |  | 110 | 109733 |
| Salesforce, Inc., 3.05%, 07/15/61 |  | 920 | 557146 |
| ServiceNow, Inc., 1.40%, 09/01/30 |  | 3000 | 2628601 |
| Workday, Inc., 3.80%, 04/01/32 |  | 1820 | 1725148 |
|  |  |  | 18460102 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Specialized REITs — 0.0%** | **Specialized REITs — 0.0%** | **Specialized REITs — 0.0%** | **Specialized REITs — 0.0%** |
| Millrose Properties, Inc., 6.38%, 08/01/30<sup>(c)</sup> | USD  | 50 | $50450 |
| **Specialty Retail — 0.4%** | **Specialty Retail — 0.4%** | **Specialty Retail — 0.4%** | **Specialty Retail — 0.4%** |
| Advance Auto Parts, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/01/30<sup>(c)</sup> |  | 70 | 71829 |
| &nbsp;&nbsp;&nbsp; 7.38%, 08/01/33<sup>(c)</sup> |  | 80 | 82000 |
| Bath & Body Works, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.95%, 03/01/33 |  | 119 | 123173 |
| &nbsp;&nbsp;&nbsp; 6.88%, 11/01/35 |  | 241 | 251004 |
| Carvana Co. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9.00% Cash or 12.00% PIK), 9.00%, <br> 12/01/28<sup>(c)(d)</sup><br>|  | 205 | 209937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9.00% Cash or 13.00% PIK), 9.00%, <br> 06/01/30<sup>(c)(d)</sup><br>|  | 239 | 249774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9.00% Cash or 14.00% PIK), 9.00%, <br> 06/01/31<sup>(c)(d)</sup><br>|  | 451 | 512231 |
| Foot Locker, Inc., 4.00%, 10/01/29<sup>(c)</sup> |  | 70 | 67003 |
| Gap, Inc. (The), 3.63%, 10/01/29<sup>(c)</sup> |  | 69 | 64712 |
| Home Depot, Inc. (The) |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 09/15/28 |  | 1050 | 978714 |
| &nbsp;&nbsp;&nbsp; 1.88%, 09/15/31 |  | 1420 | 1236951 |
| &nbsp;&nbsp;&nbsp; 3.35%, 04/15/50 |  | 940 | 652837 |
| Lowe's Cos., Inc., 1.70%, 09/15/28 |  | 1150 | 1071719 |
| Wayfair LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 10/31/29<sup>(c)</sup> |  | 113 | 115218 |
| &nbsp;&nbsp;&nbsp; 7.75%, 09/15/30<sup>(c)</sup> |  | 295 | 304780 |
|  |  |  | 5991882 |
| **Technology Hardware, Storage & Peripherals — 0.1%** | **Technology Hardware, Storage & Peripherals — 0.1%** | **Technology Hardware, Storage & Peripherals — 0.1%** | **Technology Hardware, Storage & Peripherals — 0.1%** |
| CDW LLC/CDW Finance Corp. |  |  |  |
| &nbsp;&nbsp;&nbsp; 3.57%, 12/01/31 |  | 226 | 210374 |
| &nbsp;&nbsp;&nbsp; 5.55%, 08/22/34 |  | 890 | 900894 |
| Diebold Nixdorf, Inc., 7.75%, 03/31/30<sup>(c)</sup> |  | 35 | 37029 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(c)</sup> |  | 169 | 183250 |
| NetApp, Inc., 5.70%, 03/17/35 |  | 648 | 667893 |
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte Ltd., 5.88%, <br> 07/15/30<sup>(c)</sup><br>|  | 60 | 60720 |
|  |  |  | 2060160 |
| **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** |
| Ralph Lauren Corp., 5.00%, 06/15/32 |  | 1000 | 1020584 |
| Under Armour, Inc., 7.25%, 07/15/30<sup>(c)</sup> |  | 31 | 30952 |
| Wolverine World Wide, Inc., 4.00%, 08/15/29<sup>(c)</sup> |  | 199 | 183005 |
|  |  |  | 1234541 |
| **Trading Companies & Distributors — 0.0%** | **Trading Companies & Distributors — 0.0%** | **Trading Companies & Distributors — 0.0%** | **Trading Companies & Distributors — 0.0%** |
| Alta Equipment Group, Inc., 9.00%, 06/01/29<sup>(c)</sup> |  | 164 | 156032 |
| FTAI Aviation Investors LLC |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/01/30<sup>(c)</sup> |  | 178 | 189205 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/32<sup>(c)</sup> |  | 48 | 50096 |
| QXO Building Products, Inc., 6.75%, 04/30/32<sup>(c)</sup> |  | 240 | 247873 |
|  |  |  | 643206 |
| **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** |
| Millicom International Cellular SA |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/25/29<sup>(c)</sup> |  | 63 | 63335 |
| &nbsp;&nbsp;&nbsp; 7.38%, 04/02/32<sup>(c)</sup> |  | 168 | 173166 |
| T-Mobile U.S.A., Inc., 5.50%, 01/15/55 |  | 320 | 298808 |
| Zegona Finance PLC, 8.63%, 07/15/29<sup>(c)</sup> |  | 328 | 348870 |
|  |  |  | 884179 |
| **Total Corporate Bonds — 19.1%** <br>**(Cost: $323,267,779)** | **Total Corporate Bonds — 19.1%** <br>**(Cost: $323,267,779)** | **Total Corporate Bonds — 19.1%** <br>**(Cost: $323,267,779)** | 327122766 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Foreign Government Obligations** | **Foreign Government Obligations** | **Foreign Government Obligations** | **Foreign Government Obligations** |
| **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** | **Chile — 0.1%** |
| Republic of Chile, 3.25%, 09/21/71 | USD  | 1110 | $668087 |
| **Mexico — 0.1%** | **Mexico — 0.1%** | **Mexico — 0.1%** | **Mexico — 0.1%** |
| United Mexican States |  |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 05/13/55 |  | 550 | 574846 |
| &nbsp;&nbsp;&nbsp; 3.77%, 05/24/61 |  | 870 | 521182 |
|  |  |  | 1096028 |
| **Peru — 0.0%** | **Peru — 0.0%** | **Peru — 0.0%** | **Peru — 0.0%** |
| Republic of Peru, 6.20%, 06/30/55 |  | 300 | 303900 |
| **Philippines — 0.0%** | **Philippines — 0.0%** | **Philippines — 0.0%** | **Philippines — 0.0%** |
| Republic of Philippines, 5.90%, 02/04/50 |  | 400 | 416659 |
| **Poland — 0.0%** | **Poland — 0.0%** | **Poland — 0.0%** | **Poland — 0.0%** |
| Republic of Poland, 5.50%, 03/18/54 |  | 220 | 206340 |
| **Total Foreign Government Obligations — 0.2%** <br>**(Cost: $2,752,367)** | **Total Foreign Government Obligations — 0.2%** <br>**(Cost: $2,752,367)** | **Total Foreign Government Obligations — 0.2%** <br>**(Cost: $2,752,367)** | 2691014 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Equity Funds — 0.2%** | **Equity Funds — 0.2%** | **Equity Funds — 0.2%** |
| iShares MSCI India ETF<sup>(e)</sup> | 82801 | 4303996 |
| **Total Investment Companies — 0.2%** <br>**(Cost: $3,742,012)** | **Total Investment Companies — 0.2%** <br>**(Cost: $3,742,012)** | 4303996 |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 0.1%** | **Preferred Stocks — 0.1%** | **Preferred Stocks — 0.1%** |
| **Banks — 0.0%** | **Banks — 0.0%** | **Banks — 0.0%** |
| Grupo Cibest SA | 24294 | 306241 |
| **Chemicals — 0.0%** | **Chemicals — 0.0%** | **Chemicals — 0.0%** |
| Braskem SA, Series A<sup>(a)</sup> | 113151 | 195129 |
| **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** | **Electric Utilities — 0.0%** |
| Cia Energetica de Minas Gerais | 74512 | 152821 |
| Cia Paranaense de Energia - Copel, Class B | 138962 | 312943 |
|  |  | 465764 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| Marcopolo SA | 345125 | 587531 |
| **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** |
| Gerdau SA | 96697 | 299444 |
| **Total Preferred Securities — 0.1%** <br>**(Cost: $1,849,352)** | **Total Preferred Securities — 0.1%** <br>**(Cost: $1,849,352)** | 1854109 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** | **U.S. Government Sponsored Agency Securities** |
| **Mortgage-Backed Securities — 7.3%** | **Mortgage-Backed Securities — 7.3%** | **Mortgage-Backed Securities — 7.3%** | **Mortgage-Backed Securities — 7.3%** |
| Fannie Mae Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 02/01/37 - 04/01/52 | USD  | 2017 | 1570801 |
| &nbsp;&nbsp;&nbsp; 2.00%, 04/01/37 - 11/01/51 |  | 23405 | 19185929 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/01/37 - 07/01/51 |  | 6359 | 5354976 |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/01/34 - 06/01/52 |  | 3023 | 2691284 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/01/37 - 08/01/52 |  | 1016 | 961091 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/01/52 - 08/01/53 |  | 166 | 161497 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/52 - 01/01/55 |  | 2753 | 2726193 |
| &nbsp;&nbsp;&nbsp; 5.50%, 02/01/53 - 05/01/54 |  | 1441 | 1458343 |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/01/53 - 07/01/55 |  | 4293 | 4398996 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**(Percentages shown are based on Net Assets)**

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Fannie Mae Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/01/53 - 08/01/54 | USD  | 1571 | $1653499 |
| Freddie Mac Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 03/01/37 |  | 141 | 125553 |
| &nbsp;&nbsp;&nbsp; 2.00%, 05/01/36 - 04/01/37 |  | 779 | 715040 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/01/37 - 07/01/51 |  | 3700 | 3123710 |
| &nbsp;&nbsp;&nbsp; 3.00%, 07/01/38 - 07/01/50 |  | 437 | 415893 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/01/38 - 02/01/53 |  | 960 | 909656 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/01/52 - 08/01/53 |  | 54 | 53000 |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/01/53 |  | 252 | 250141 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/01/53 - 11/01/54 |  | 2509 | 2531118 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/01/53 - 07/01/55 |  | 2511 | 2575685 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/53 - 04/01/55 |  | 1907 | 1983789 |
| Ginnie Mae Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 10/20/51 - 09/15/55<sup>(f)</sup> |  | 6030 | 4940797 |
| &nbsp;&nbsp;&nbsp; 2.50%, 07/20/51 - 08/20/52 |  | 11833 | 10092540 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/20/46 - 09/15/55<sup>(f)</sup> |  | 10483 | 9287734 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/20/50 - 09/15/55<sup>(f)</sup> |  | 6133 | 5608114 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/20/50 - 09/20/52 |  | 4929 | 4638306 |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/20/49 - 09/15/55<sup>(f)</sup> |  | 3969 | 3841518 |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/20/53 - 09/15/55<sup>(f)</sup> |  | 3314 | 3283386 |
| &nbsp;&nbsp;&nbsp; 5.50%, 12/20/52 - 09/15/55<sup>(f)</sup> |  | 3620 | 3651405 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/20/53 - 09/15/55<sup>(f)</sup> |  | 2588 | 2641281 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/20/53 - 09/15/55<sup>(f)</sup> |  | 1091 | 1121882 |
| Uniform Mortgage-Backed Securities |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 09/01/40 - 09/01/55<sup>(f)</sup> |  | 2189 | 1775337 |
| &nbsp;&nbsp;&nbsp; 2.00%, 09/01/40 - 09/01/55<sup>(f)</sup> |  | 3486 | 2871158 |
| &nbsp;&nbsp;&nbsp; 2.50%, 09/01/40 - 09/01/55<sup>(f)</sup> |  | 2350 | 2131789 |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/01/40 - 09/01/55<sup>(f)</sup> |  | 1500 | 1389116 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/01/40 - 09/01/55<sup>(f)</sup> |  | 4600 | 4203747 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/01/40 - 09/01/55<sup>(f)</sup> |  | 1975 | 1887791 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/01/55<sup>(f)</sup> |  | 2325 | 2235970 |
| &nbsp;&nbsp;&nbsp; 5.00%, 09/01/55<sup>(f)</sup> |  | 2250 | 2218787 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/01/55<sup>(f)</sup> |  | 3875 | 3896815 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/01/55<sup>(f)</sup> |  | 125 | 127695 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/01/55<sup>(f)</sup> |  | 250 | 259068 |
|  |  |  | 124950430 |
| **Total U.S. Government Sponsored Agency Securities — 7.3%** <br>**(Cost: $130,570,719)** | **Total U.S. Government Sponsored Agency Securities — 7.3%** <br>**(Cost: $130,570,719)** | **Total U.S. Government Sponsored Agency Securities — 7.3%** <br>**(Cost: $130,570,719)** | 124950430 |
| **U.S. Treasury Obligations** | **U.S. Treasury Obligations** | **U.S. Treasury Obligations** | **U.S. Treasury Obligations** |
| U.S. Treasury Bonds |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.13%, 05/15/40 |  | 23000 | 14313008 |
| &nbsp;&nbsp;&nbsp; 2.25%, 05/15/41 - 02/15/52 |  | 46000 | 29527578 |
| &nbsp;&nbsp;&nbsp; 2.38%, 02/15/42 |  | 10000 | 7238281 |
| &nbsp;&nbsp;&nbsp; 4.38%, 08/15/43 |  | 9100 | 8604477 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/44 |  | 1000 | 908398 |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/15/47 |  | 5000 | 3714063 |
| &nbsp;&nbsp;&nbsp; 3.38%, 11/15/48 |  | 2600 | 2028914 |
| U.S. Treasury Notes |  |  |  |
| &nbsp;&nbsp;&nbsp; 0.25%, 09/30/25 |  | 35630 | 35519350 |
| &nbsp;&nbsp;&nbsp; 2.50%, 03/31/27 |  | 12000 | 11780625 |
| &nbsp;&nbsp;&nbsp; 1.88%, 02/28/29 - 02/15/32 |  | 33000 | 30158516 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* |  | *Par*<br> *(000)*<br>| *Value* |
| **U.S. Treasury Obligations (continued)** | **U.S. Treasury Obligations (continued)** | **U.S. Treasury Obligations (continued)** | **U.S. Treasury Obligations (continued)** |
| U.S. Treasury Notes |  |  |  |
| &nbsp;&nbsp;&nbsp; 2.38%, 05/15/29 | USD  | 16000 | $15316250 |
| &nbsp;&nbsp;&nbsp; 0.63%, 08/15/30 |  | 5000 | 4308789 |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/34 |  | 9000 | 8822812 |
| **Total U.S. Treasury Obligations — 10.1%** <br>**(Cost: $199,288,810)** | **Total U.S. Treasury Obligations — 10.1%** <br>**(Cost: $199,288,810)** | **Total U.S. Treasury Obligations — 10.1%** <br>**(Cost: $199,288,810)** | 172241061 |
| **Total Long-Term Investments — 94.0%** <br>**(Cost: $1,306,988,405)** | **Total Long-Term Investments — 94.0%** <br>**(Cost: $1,306,988,405)** | **Total Long-Term Investments — 94.0%** <br>**(Cost: $1,306,988,405)** | 1606643924 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 5.4%** | **Money Market Funds — 5.4%** | **Money Market Funds — 5.4%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.44%<sup>(e)(g)(h)</sup><br>| 2434240 | 2435457 |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional <br> Shares, 4.16%<sup>(e)(g)</sup><br>| 89651369 | 89651369 |
|  |  | 92086826 |

---

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

---

| | | | |
|:---|:---|:---|:---|
|  |  | *Par* <br>*(000)*<br>|  |
| **U.S. Treasury Obligations**<sup>(i)</sup> **— 1.7%** | **U.S. Treasury Obligations**<sup>(i)</sup> **— 1.7%** | **U.S. Treasury Obligations**<sup>(i)</sup> **— 1.7%** | **U.S. Treasury Obligations**<sup>(i)</sup> **— 1.7%** |
| U.S. Treasury Bills |  |  |  |
| &nbsp;&nbsp;&nbsp; 4.29%, 09/04/25 | USD  | 16000 | 15996235 |
| &nbsp;&nbsp;&nbsp; 4.29%, 09/09/25 |  | 300 | 299752 |
| &nbsp;&nbsp;&nbsp; 4.22%, 09/16/25 |  | 9200 | 9184739 |
| &nbsp;&nbsp;&nbsp; 4.30%, 09/18/25 |  | 1200 | 1197731 |
| &nbsp;&nbsp;&nbsp; 4.29%, 09/23/25 |  | 500 | 498760 |
| &nbsp;&nbsp;&nbsp; 4.27%, 09/25/25 |  | 1100 | 1097023 |
| **Total U.S. Treasury Obligations — 1.7%** <br>**(Cost: $28,270,911)**<br>|  |  | 28274240 |
| **Total Short-Term Securities — 7.1%** <br>**(Cost: $120,357,512)** | **Total Short-Term Securities — 7.1%** <br>**(Cost: $120,357,512)** | **Total Short-Term Securities — 7.1%** <br>**(Cost: $120,357,512)** | 120361066 |
| **Total Investments — 101.1%** <br>**(Cost: $1,427,345,917)** | **Total Investments — 101.1%** <br>**(Cost: $1,427,345,917)** | **Total Investments — 101.1%** <br>**(Cost: $1,427,345,917)** | 1727004990 |
| **Liabilities in Excess of Other Assets — (1.1)%** | **Liabilities in Excess of Other Assets — (1.1)%** | **Liabilities in Excess of Other Assets — (1.1)%** | (17981295)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1709023695 |

---

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

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(d)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Represents or includes a TBA transaction.

<sup>(g)</sup> Annualized 7-day yield as of period end.

<sup>(h)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

<sup>(i)</sup> Rates are discount rates or a range of discount rates as of period end.

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended August 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain* <br>*(Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*08/31/25*<br>| *Shares* <br>*Held at* <br>*08/31/25*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, <br> SL Agency Shares<br>| &nbsp;&nbsp; $1291050<br>| &nbsp;&nbsp; $1144100 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $82 | &nbsp;&nbsp; $225 | &nbsp;&nbsp; $2435457 | &nbsp;&nbsp; 2434240 | &nbsp;&nbsp; $1764 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, <br> Institutional Shares<br>| &nbsp;&nbsp; 89404974<br>| &nbsp;&nbsp; 246395 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 89651369 | &nbsp;&nbsp; 89651369 | &nbsp;&nbsp; 675720 | &nbsp;&nbsp; — |
| iShares MSCI India ETF | &nbsp;&nbsp; 4579582<br>| &nbsp;&nbsp; 181396 | &nbsp;&nbsp; (254344)<br>| &nbsp;&nbsp; (8924)<br>| &nbsp;&nbsp; (193714)<br>| &nbsp;&nbsp; 4303996 | &nbsp;&nbsp; 82801 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(8842)<br>| &nbsp;&nbsp; $(193489)<br>| &nbsp;&nbsp; $96390822 |  | &nbsp;&nbsp; $677484 | &nbsp;&nbsp; $— |

---

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

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and from borrowers of securities. 

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TOPIX Index | 162 | 09/11/25 | &nbsp;&nbsp;&nbsp;&nbsp; $33871 | &nbsp;&nbsp;&nbsp;&nbsp; $3159029 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds (30 Year) | 22 | 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2514 | &nbsp;&nbsp;&nbsp;&nbsp; (1927)<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes (10 Year) | 460 | 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 51750 | &nbsp;&nbsp;&nbsp;&nbsp; 98939 |
| &nbsp;&nbsp;&nbsp; U.S. Ultra Treasury Notes (10 Year) | 16 | 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1831 | &nbsp;&nbsp;&nbsp;&nbsp; (204)<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes (2 Year) | 431 | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 89880 | &nbsp;&nbsp;&nbsp;&nbsp; 104436 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 3360273 |
| Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; S&P/Toronto Stock Exchange 60 Index | 15 | 09/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3704 | &nbsp;&nbsp;&nbsp;&nbsp; (238404)<br>|
| &nbsp;&nbsp;&nbsp; Mini MSCI EAFE Index | 41 | 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 5578 | &nbsp;&nbsp;&nbsp;&nbsp; (24381)<br>|
| &nbsp;&nbsp;&nbsp; Mini MSCI Emerging Markets Index | 199 | 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 12586 | &nbsp;&nbsp;&nbsp;&nbsp; (695029)<br>|
| &nbsp;&nbsp;&nbsp; NASDAQ 100 E-Mini Index | 103 | 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 48331 | &nbsp;&nbsp;&nbsp;&nbsp; (2701319)<br>|
| &nbsp;&nbsp;&nbsp; S&P 500 E-Mini Index | 112 | 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 36247 | &nbsp;&nbsp;&nbsp;&nbsp; (1516511)<br>|
| &nbsp;&nbsp;&nbsp; U.S. Ultra Treasury Bonds | 871 | 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 101526 | &nbsp;&nbsp;&nbsp;&nbsp; 471986 |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes (5 Year) | 154 | 12/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 16858 | &nbsp;&nbsp;&nbsp;&nbsp; (31308)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (4734966)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(1374693)<br>|

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Settlement* <br>*Date*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| AUD | 45741475 | USD | 29622307 | Barclays Bank PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $322871 |
| EUR | 27412480 | USD | 31411413 | Barclays Bank PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 696323 |
| USD | 478663 | GBP | 353700 | JPMorgan Chase Bank N.A. | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519 |
| USD | 679971 | JPY | 96699400 | Barclays Bank PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20608 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1040321 |
| AUD | 4808000 | USD | 3150024 | JPMorgan Chase Bank N.A. | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2412)<br>|
| CAD | 43256230 | USD | 31700810 | JPMorgan Chase Bank N.A. | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (176052)<br>|
| JPY | 8847615610 | EUR | 54309504 | JPMorgan Chase Bank N.A. | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3282597)<br>|

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Settlement*<br> *Date*<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| JPY | 678876000 | EUR | 3953259 | Morgan Stanley & Co. International PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(1337)<br>|
| JPY | 8847616118 | USD | 62214710 | Barclays Bank PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1885577)<br>|
| JPY | 678876000 | USD | 4637489 | Morgan Stanley & Co. International PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8446)<br>|
| USD | 480353 | EUR | 419200 | Barclays Bank PLC | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10648)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(5367069)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4326748)<br>|

---

**Centrally Cleared Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | &nbsp;&nbsp; *Financing* <br>*Rate* <br>*Received* <br>*by* <br>*the* <br>*Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp; *Credit* <br>*Rating*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)*<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)*<sup>(b)</sup>  | *Value* | &nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| &nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| CDX.NA.HY.44.V1 | &nbsp;&nbsp;&nbsp;&nbsp; 5.00<br> %<br>| Quarterly | &nbsp;&nbsp;&nbsp; 06/20/30 | &nbsp;&nbsp;&nbsp; B+ | USD | 11715 | &nbsp;&nbsp;&nbsp; $962663 | &nbsp;&nbsp;&nbsp; $861835 | &nbsp;&nbsp;&nbsp; $100828 |

---

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

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

**OTC Total Return Swaps** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund |  |  |  |  |  |  |  |
| *Reference* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Termination* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)* | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| &nbsp;&nbsp;&nbsp; SOFR plus 0.29%, <br> 4.34%<br>| Quarterly | &nbsp;&nbsp;&nbsp; MSCI All Country <br> World Index<br>| Quarterly | Merrill Lynch International | 04/07/26 | USD | 150982 | &nbsp;&nbsp; $4368179 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $4368179 |

---

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**Fair Value Hierarchy as of Period End (continued)**

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Aerospace & Defense | &nbsp;&nbsp; $8825129 | &nbsp;&nbsp; $17023402 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $25848531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Air Freight & Logistics | &nbsp;&nbsp; 7994560 | &nbsp;&nbsp; 604896 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8599456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobile Components | &nbsp;&nbsp; 7683801 | &nbsp;&nbsp; 8425 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7692226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Automobiles | &nbsp;&nbsp; 8835536 | &nbsp;&nbsp; 3579739 | &nbsp;&nbsp; — | &nbsp;&nbsp; 12415275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks | &nbsp;&nbsp; 36727911 | &nbsp;&nbsp; 42279054 | &nbsp;&nbsp; — | &nbsp;&nbsp; 79006965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Beverages | &nbsp;&nbsp; 6254991 | &nbsp;&nbsp; 21494 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6276485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; 11473336 | &nbsp;&nbsp; 3035665 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14509001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broadline Retail | &nbsp;&nbsp; 29714065 | &nbsp;&nbsp; 6291837 | &nbsp;&nbsp; — | &nbsp;&nbsp; 36005902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Building Products | &nbsp;&nbsp; — | &nbsp;&nbsp; 55440 | &nbsp;&nbsp; — | &nbsp;&nbsp; 55440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Markets | &nbsp;&nbsp; 37808033 | &nbsp;&nbsp; 6247930 | &nbsp;&nbsp; — | &nbsp;&nbsp; 44055963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chemicals | &nbsp;&nbsp; 3827837 | &nbsp;&nbsp; 6675128 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10502965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Services & Supplies | &nbsp;&nbsp; 1833556 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1833556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communications Equipment | &nbsp;&nbsp; 5726688 | &nbsp;&nbsp; 5657598 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11384286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Construction & Engineering | &nbsp;&nbsp; 10757358 | &nbsp;&nbsp; 6107085 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16864443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Finance | &nbsp;&nbsp; 10002258 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10002258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples Distribution & Retail | &nbsp;&nbsp; 18798663 | &nbsp;&nbsp; 2781846 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21580509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified REITs | &nbsp;&nbsp; — | &nbsp;&nbsp; 53703 | &nbsp;&nbsp; — | &nbsp;&nbsp; 53703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified Telecommunication Services | &nbsp;&nbsp; 9876229 | &nbsp;&nbsp; 9127198 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19003427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electric Utilities | &nbsp;&nbsp; 5345519 | &nbsp;&nbsp; 115744 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5461263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electrical Equipment | &nbsp;&nbsp; 7812050 | &nbsp;&nbsp; 15337907 | &nbsp;&nbsp; — | &nbsp;&nbsp; 23149957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 1630378 | &nbsp;&nbsp; 6040545 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7670923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy Equipment & Services | &nbsp;&nbsp; 2691310 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2691310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entertainment | &nbsp;&nbsp; 10613278 | &nbsp;&nbsp; 393095 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11006373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Services | &nbsp;&nbsp; 13848431 | &nbsp;&nbsp; 2313179 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16161610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Food Products | &nbsp;&nbsp; 693350 | &nbsp;&nbsp; 7070417 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7763767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gas Utilities | &nbsp;&nbsp; — | &nbsp;&nbsp; 215714 | &nbsp;&nbsp; — | &nbsp;&nbsp; 215714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ground Transportation | &nbsp;&nbsp; 3004500 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3004500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp; 9147421 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9147421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp; 8759642 | &nbsp;&nbsp; 727916 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9487558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp; 954314 | &nbsp;&nbsp; 141791 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1096105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp; 131 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp; 16885848 | &nbsp;&nbsp; 2973975 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19859823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Durables | &nbsp;&nbsp; 2221058 | &nbsp;&nbsp; 7012799 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9233857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Household Products | &nbsp;&nbsp; 5559844 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5559844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Independent Power and Renewable Electricity Producers | &nbsp;&nbsp; 746062 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 746062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial Conglomerates | &nbsp;&nbsp; 8954942 | &nbsp;&nbsp; 2653867 | &nbsp;&nbsp; — | &nbsp;&nbsp; 11608809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insurance | &nbsp;&nbsp; 16802233 | &nbsp;&nbsp; 13628762 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30430995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interactive Media & Services | &nbsp;&nbsp; 40043131 | &nbsp;&nbsp; 14173179 | &nbsp;&nbsp; — | &nbsp;&nbsp; 54216310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp; 7972470 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 7972470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Machinery | &nbsp;&nbsp; 2307116 | &nbsp;&nbsp; 5812867 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8119983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marine Transportation | &nbsp;&nbsp; — | &nbsp;&nbsp; 880340 | &nbsp;&nbsp; — | &nbsp;&nbsp; 880340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Media | &nbsp;&nbsp; 3865266 | &nbsp;&nbsp; 2872194 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6737460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Metals & Mining | &nbsp;&nbsp; 13693283 | &nbsp;&nbsp; 3305275 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16998558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Multi-Utilities | &nbsp;&nbsp; 1959787 | &nbsp;&nbsp; 5607513 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7567300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 15011307 | &nbsp;&nbsp; 15599654 | &nbsp;&nbsp; — | &nbsp;&nbsp; 30610961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Passenger Airlines | &nbsp;&nbsp; 3728375 | &nbsp;&nbsp; 1024021 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4752396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Personal Care Products | &nbsp;&nbsp; 221864 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 221864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp; 16978013 | &nbsp;&nbsp; 19647660 | &nbsp;&nbsp; — | &nbsp;&nbsp; 36625673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Professional Services | &nbsp;&nbsp; 1298854 | &nbsp;&nbsp; 9123672 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10422526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp; 2025997 | &nbsp;&nbsp; 2932158 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4958155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp; 6070434 | &nbsp;&nbsp; 181047 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6251481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 74994520 | &nbsp;&nbsp; 24064533 | &nbsp;&nbsp; — | &nbsp;&nbsp; 99059053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Software | &nbsp;&nbsp; 87589134 | &nbsp;&nbsp; 3404215 | &nbsp;&nbsp; — | &nbsp;&nbsp; 90993349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp; 4142435 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4142435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialty Retail | &nbsp;&nbsp; 15697486 | &nbsp;&nbsp; 1244853 | &nbsp;&nbsp; — | &nbsp;&nbsp; 16942339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 46187967 | &nbsp;&nbsp; 6795791 | &nbsp;&nbsp; — | &nbsp;&nbsp; 52983758 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Balanced Fund, Inc.**

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; $1614458 | &nbsp;&nbsp; $1569712 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3184170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tobacco | &nbsp;&nbsp; 1833751 | &nbsp;&nbsp; 1538072 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3371823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trading Companies & Distributors | &nbsp;&nbsp; 78284 | &nbsp;&nbsp; 571737 | &nbsp;&nbsp; — | &nbsp;&nbsp; 650021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Water Utilities | &nbsp;&nbsp; 102206 | &nbsp;&nbsp; 671380 | &nbsp;&nbsp; — | &nbsp;&nbsp; 773586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wireless Telecommunication Services | &nbsp;&nbsp; 1713034 | &nbsp;&nbsp; 3345090 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5058124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds  | &nbsp;&nbsp; — | &nbsp;&nbsp; 327122766 | &nbsp;&nbsp; — | &nbsp;&nbsp; 327122766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2691014 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2691014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies  | &nbsp;&nbsp; 4303996 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4303996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities  | &nbsp;&nbsp; 1854109 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1854109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Sponsored Agency Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 124950430 | &nbsp;&nbsp; — | &nbsp;&nbsp; 124950430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 172241061 | &nbsp;&nbsp; — | &nbsp;&nbsp; 172241061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 92086826 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 92086826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 28274240 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28274240 |
|  | &nbsp;&nbsp; $779184365 | &nbsp;&nbsp; $947820625 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1727004990 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $100828 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $100828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 7527208 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7527208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 1040321 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1040321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; 675361 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 675361 |
| &nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; (5175644)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5175644)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (5367069)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (5367069)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; (33439)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (33439)<br>|
|  | &nbsp;&nbsp; $(4533722)<br>| &nbsp;&nbsp; $3301288 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1232434)<br>|

---

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

<sup>(a)</sup> Derivative financial instruments are swaps, futures contracts and forward foreign currency exchange contracts. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. 

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

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| USD | United States Dollar |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| ADR | American Depositary Receipt |
| DAC | Designated Activity Co. |
| ETF | Exchange-Traded Fund |
| LP | Limited Partnership |
| MTN | Medium-Term Note |
| NVS | Non-Voting Shares |
| OTC | Over-the-Counter |
| PIK | Payment-in-Kind |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |
| TA | Tax Allocation |
| TOPIX | Tokyo Stock Price Index |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Balanced Fund, Inc.

- **b. Investment Company Act file number:** 811-02405

- **c. CIK number of Registrant:** 0000110055

- **d. LEI of Registrant:** 549300IQRQVPFY18OX84

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Balanced Fund, Inc.

- **b. EDGAR series identifier (if any):** S000002175

- **c. LEI of Series:** 549300IQRQVPFY18OX84

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-29

**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:** $1753863743.90

**Total Liabilities:** $44493520.87

**Net Assets:** $1709370223.03

**Stand-by Commitments:** $33530249.68

**Cash Not Reported:** $10114358.20

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 95.60000000 | **1-Year:** 7979.36000000 | **5-Year:** 130157.41000000 | **10-Year:** 55535.84000000 | **30-Year:** 38569.23000000

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

- **3-Month:** 30.11000000 | **1-Year:** 830.09000000 | **5-Year:** 12731.12000000 | **10-Year:** 831.98000000 | **30-Year:** 116.69000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005578 | 3.02%                | 0.22%                | 2.79%                |
| Class ID C000005580 | 2.98%                | 0.11%                | 2.76%                |
| Class ID C000005581 | 3.04%                | 0.20%                | 2.81%                |
| Class ID C000005582 | 3.01%                | 0.15%                | 2.76%                |
| Class ID C000199764 | 3.04%                | 0.23%                | 2.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8465106.42              | $40949195.42                               |
| Month 2  | $5098245.55              | $-34195.95                                 |
| Month 3  | $11899196.67             | $24603097.40                               |

**Designated Index Information**

- **Index Name:** 60% MSCI All Country World Index/40% Bloomberg U.S. Aggregate Bond Index

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BARCLAYS PLC                                | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $322871.16    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                  | USD/GBP FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $518.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F030694<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    500000 | PA      | $433103.79    | 0.03%             | 2055-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NVIDIA CORP                                 | NVIDIA Corp                                                                     | CUSIP: 67066GAM6<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |    600000 | PA      | $565402.49    | 0.03%             | 2028-06-15      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                      | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     85000 | PA      | $89040.22     | 0.01%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NCSoft Corp                                 | NCSoft Corp                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       327 | NS      | $47592.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                      | Telecom Italia Capital SA                                                       | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     62000 | PA      | $61757.62     | 0.00%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HL Mando Co Ltd                             | HL Mando Co Ltd                                                                 | CUSIP: 000000000<br>LEI: 988400P5GM9DGVVOJQ79 | Long             | EC               | CORP              | KR        |       330 | NS      | $8424.93      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Perusahaan Gas Negara Tbk PT                | Perusahaan Gas Negara Tbk PT                                                    | CUSIP: 000000000<br>LEI: 549300OX1VFDX7ZPN240 | Long             | EC               | CORP              | ID        |    893800 | NS      | $92684.14     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                         | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    226000 | PA      | $210373.64    | 0.01%             | 2031-12-01      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XJNB5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1030417 | PA      | $901982.00    | 0.05%             | 2052-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Elastic NV                                  | Elastic NV                                                                      | CUSIP: 000000000<br>LEI: 2549003I48WHHH937I59 | Long             | EC               | CORP              | US        |     14415 | NS      | $1226139.90   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ET75<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    173953 | PA      | $178067.69    | 0.01%             | 2053-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Consolidated Edison Inc                     | Consolidated Edison Inc                                                         | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     19951 | NS      | $1959786.73   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                       | Costco Wholesale Corp                                                           | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      6171 | NS      | $5821227.72   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RYDER SYSTEM INC                            | Ryder System Inc                                                                | CUSIP: 78355HKX6<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1191497.01   | 0.07%             | 2028-12-01      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179VDQ0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    458710 | PA      | $432691.49    | 0.03%             | 2050-01-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PharmaResearch Co Ltd                       | PharmaResearch Co Ltd                                                           | CUSIP: 000000000<br>LEI: 988400WCI2SXC6H7SG23 | Long             | EC               | CORP              | KR        |       409 | NS      | $198992.04    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Braskem SA                                  | Braskem SA                                                                      | CUSIP: 000000000<br>LEI: 549300RPMQUFGBB7EY44 | Long             | EP               | CORP              | BR        |    113151 | NS      | $195129.31    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                       | CUSIP: 682680BA0<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    370000 | PA      | $369682.04    | 0.02%             | 2025-09-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                    | Fortescue Treasury Pty Ltd                                                      | CUSIP: 30251GBE6<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |     23000 | PA      | $23605.71     | 0.00%             | 2032-04-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                         | Synchrony Financial                                                             | CUSIP: 87165BAR4<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |   2180000 | PA      | $1933150.38   | 0.11%             | 2031-10-28      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP                           | Tutor Perini Corp                                                               | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |    127000 | PA      | $142583.41    | 0.01%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GQSU7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    131936 | PA      | $137161.30    | 0.01%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                               | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    157000 | PA      | $158594.18    | 0.01%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BNI Tbk PT                                  | Bank Negara Indonesia Persero Tbk PT                                            | CUSIP: 000000000<br>LEI: 549300HZ8J3MLVXQ8F85 | Long             | EC               | CORP              | ID        |    144900 | NS      | $38468.95     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| US Bancorp                                  | US Bancorp                                                                      | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     84760 | NS      | $4138830.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group              | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |     30400 | NS      | $462659.35    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280ES4<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    500000 | PA      | $508127.67    | 0.03%             | 2036-03-03      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Adobe Inc                                   | Adobe Inc                                                                       | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     13140 | NS      | $4687038.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                           | Lam Research Corp                                                               | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     20249 | NS      | $2027937.35   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                   | Keysight Technologies Inc                                                       | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      9976 | NS      | $1630377.68   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 31427NHP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    321762 | PA      | $328832.54    | 0.02%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                    | Adtalem Global Education Inc                                                    | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |     42000 | PA      | $41823.71     | 0.00%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hermes International SCA                    | Hermes International SCA                                                        | CUSIP: 000000000<br>LEI: 969500Y4IJGHJE2MTJ13 | Long             | EC               | CORP              | FR        |       427 | NS      | $1045790.47   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                                     | Meituan                                                                         | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |     98270 | NS      | $1308852.27   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XX68<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    111849 | PA      | $113336.46    | 0.01%             | 2053-04-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TJX Cos Inc/The                             | TJX Cos Inc/The                                                                 | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     12492 | NS      | $1706532.12   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprouts Farmers Market Inc                  | Sprouts Farmers Market Inc                                                      | CUSIP: 85208M102<br>LEI: 529900P8F4G77Q52XE24 | Long             | EC               | CORP              | US        |      2262 | NS      | $317901.48    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sampo Oyj                                   | Sampo Oyj                                                                       | CUSIP: 000000000<br>LEI: 743700UF3RL386WIDA22 | Long             | EC               | CORP              | FI        |     84165 | NS      | $965778.44    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                         | American Tower Corp                                                             | CUSIP: 03027XCE8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |     25000 | PA      | $26133.46     | 0.00%             | 2028-11-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc                       | Uber Technologies Inc                                                           | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     32048 | NS      | $3004500.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    166000 | PA      | $173031.76    | 0.01%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                         | General Electric Co                                                             | CUSIP: 369604CA9<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    335000 | PA      | $336464.28    | 0.02%             | 2036-01-29      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                           | TSMC Arizona Corp                                                               | CUSIP: 872898AH4<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |   1258000 | PA      | $1256591.04   | 0.07%             | 2032-04-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Moody's Corp                                | Moody's Corp                                                                    | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     15136 | NS      | $7715727.36   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                    | Diversified Healthcare Trust                                                    | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159000 | PA      | $135020.86    | 0.01%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SUNCOKE ENERGY INC                          | SunCoke Energy Inc                                                              | CUSIP: 86722AAD5<br>LEI: 1KF1J2NXQE2PI0QOB943 | Long             | DBT              | CORP              | US        |     69000 | PA      | $62989.17     | 0.00%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QRW33<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    164732 | PA      | $163202.25    | 0.01%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stantec Inc                                 | Stantec Inc                                                                     | CUSIP: 85472N109<br>LEI: 549300MZ7NGUZDCP2T16 | Long             | EC               | CORP              | CA        |     30021 | NS      | $3263213.95   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                    | Banco Bilbao Vizcaya Argentaria SA                                              | CUSIP: 05946KAL5<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   1800000 | PA      | $1863506.63   | 0.11%             | 2028-09-14      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XHW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1645854 | PA      | $1501659.14   | 0.09%             | 2052-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                            | Peruvian Government International Bond                                          | CUSIP: 715638FD9<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    300000 | PA      | $303900.00    | 0.02%             | 2055-06-30      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                              | CVR Energy Inc                                                                  | CUSIP: 12662PAF5<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |     29000 | PA      | $29312.42     | 0.00%             | 2029-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TA Chen Stainless Pipe                      | TA Chen Stainless Pipe                                                          | CUSIP: 000000000<br>LEI: 254900953CKYO1W5WB63 | Long             | EC               | CORP              | TW        |     14647 | NS      | $18596.72     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                      | CUSIP: 80282KBL9<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   1060000 | PA      | $1126407.75   | 0.07%             | 2035-05-31      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ESM3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     23603 | PA      | $23177.51     | 0.00%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NetEase Inc                                 | NetEase Inc                                                                     | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | CN        |     12600 | NS      | $345502.16    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                       | Tenet Healthcare Corp                                                           | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200144.40    | 0.01%             | 2028-10-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GQSS2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     41612 | PA      | $43426.00     | 0.00%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                            | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    114000 | PA      | $118135.92    | 0.01%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                           | Eversource Energy                                                               | CUSIP: 30040WAN8<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194525.88    | 0.01%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                             | Cigna Group/The                                                                 | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    990000 | PA      | $995368.44    | 0.06%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Nordea Bank Abp                             | Nordea Bank Abp                                                                 | CUSIP: 000000000<br>LEI: 529900ODI3047E2LIV03 | Long             | EC               | CORP              | FI        |     57634 | NS      | $879510.49    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Eiffage SA                                  | Eiffage SA                                                                      | CUSIP: 000000000<br>LEI: 969500OQXKE5WDM9M994 | Long             | EC               | CORP              | FR        |     11153 | NS      | $1403555.35   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                       | Texas Instruments Inc                                                           | CUSIP: 882508CB8<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    790000 | PA      | $811224.01    | 0.05%             | 2033-03-14      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| LG Chem Ltd                                 | LG Chem Ltd                                                                     | CUSIP: 000000000<br>LEI: 988400IES4EIG7O06940 | Long             | EC               | CORP              | KR        |      5518 | NS      | $1095975.13   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| KONINKLIJKE KPN NV                          | Koninklijke KPN NV                                                              | CUSIP: 780641AH9<br>LEI: 549300YO0JZHAL7FVP81 | Long             | DBT              | CORP              | NL        |    450000 | PA      | $528652.76    | 0.03%             | 2030-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Banca Monte dei Paschi di Sien              | Banca Monte dei Paschi di Siena SpA                                             | CUSIP: 000000000<br>LEI: J4CP7MHCXR8DAQMKIL78 | Long             | EC               | CORP              | IT        |     80019 | NS      | $734278.83    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WVW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1708084 | PA      | $1566100.31   | 0.09%             | 2052-01-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NVIDIA CORP                                 | NVIDIA Corp                                                                     | CUSIP: 67066GAN4<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |   4490000 | PA      | $4017691.29   | 0.24%             | 2031-06-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                  | Fiserv Inc                                                                      | CUSIP: 337738BE7<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    970000 | PA      | $1006451.02   | 0.06%             | 2033-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Barclays PLC                                | Barclays PLC                                                                    | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | EC               | CORP              | GB        |     21603 | NS      | $105263.90    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                           | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    197000 | PA      | $207096.25    | 0.01%             | 2032-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                    | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    156000 | PA      | $166064.03    | 0.01%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418EYV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     11921 | PA      | $11706.34     | 0.00%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN WATER CAPITAL C                    | American Water Capital Corp                                                     | CUSIP: 03040WBG9<br>LEI: 5IDHQUFVC8Q2KIBBFF06 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93486.57     | 0.01%             | 2055-09-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CAE1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $4308789.05   | 0.25%             | 2030-08-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QT4J5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    155446 | PA      | $164754.93    | 0.01%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ONE GAS INC                                 | ONE Gas Inc                                                                     | CUSIP: 68235PAM0<br>LEI: 549300HXDWI0LATTX840 | Long             | DBT              | CORP              | US        |    155000 | PA      | $150644.16    | 0.01%             | 2032-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Credit Agricole SA                          | Credit Agricole SA                                                              | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | EC               | CORP              | FR        |    106448 | NS      | $1947149.26   | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QUM86<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    707489 | PA      | $713005.13    | 0.04%             | 2054-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    167000 | PA      | $171958.90    | 0.01%             | 2032-03-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Hyundai Glovis Co Ltd                       | Hyundai Glovis Co Ltd                                                           | CUSIP: 000000000<br>LEI: 988400U6RDXNJ5ZRN304 | Long             | EC               | CORP              | KR        |       946 | NS      | $125107.76    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AUTOMATIC DATA PROCESSNG                    | Automatic Data Processing Inc                                                   | CUSIP: 053015AG8<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | DBT              | CORP              | US        |   5380000 | PA      | $5091647.28   | 0.30%             | 2028-05-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| AVI Ltd                                     | AVI Ltd                                                                         | CUSIP: 000000000<br>LEI: 378900C2D68805FAAF75 | Long             | EC               | CORP              | ZA        |     27839 | NS      | $147575.11    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XBJE1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    682074 | PA      | $646015.51    | 0.04%             | 2051-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GQSR4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     19306 | PA      | $20095.14     | 0.00%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Sanofi SA                                   | Sanofi SA                                                                       | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     13950 | NS      | $1384007.69   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                       | Keysight Technologies Inc                                                       | CUSIP: 49338LAE3<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1255723.45   | 0.07%             | 2027-04-06      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                       | Northrop Grumman Corp                                                           | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |      3074 | NS      | $1813782.96   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Tele2 AB                                    | Tele2 AB                                                                        | CUSIP: 000000000<br>LEI: 213800EKD193RVI9HL76 | Long             | EC               | CORP              | SE        |      3973 | NS      | $69973.02     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                           | Eversource Energy                                                               | CUSIP: 30040WAP3<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    750000 | PA      | $687707.24    | 0.04%             | 2032-03-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                  | Intel Corp                                                                      | CUSIP: 458140CE8<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |   1610000 | PA      | $1631188.24   | 0.10%             | 2028-02-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WVT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1955606 | PA      | $1602578.34   | 0.09%             | 2052-01-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| COPEL                                       | Cia Paranaense de Energia - Copel                                               | CUSIP: 000000000<br>LEI: 2549001AS1I9A71VG663 | Long             | EP               | CORP              | BR        |    138962 | NS      | $312942.27    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WY93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2821533 | PA      | $2406188.21   | 0.14%             | 2052-03-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XX43<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2410188 | PA      | $2333510.09   | 0.14%             | 2053-04-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cintas Corp                                 | Cintas Corp                                                                     | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       791 | NS      | $166133.73    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                            | TotalEnergies SE                                                                | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      2633 | NS      | $165302.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TIDEWATER INC                               | Tidewater Inc                                                                   | CUSIP: 88642RAE9<br>LEI: 2549000JA5GRUPLMUH98 | Long             | DBT              | CORP              | US        |     35000 | PA      | $37344.58     | 0.00%             | 2030-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                | Alphabet Inc                                                                    | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     49031 | NS      | $10469589.43  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CANADIAN NATL RAILWAY                       | Canadian National Railway Co                                                    | CUSIP: 136375DC3<br>LEI: 3SU7BEP7TH9YEQOZCS77 | Long             | DBT              | CORP              | CA        |    575000 | PA      | $549608.91    | 0.03%             | 2032-08-05      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Pop Mart International Group L              | Pop Mart International Group Ltd                                                | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | CN        |     19000 | NS      | $789780.43    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Verizon Communications Inc                  | Verizon Communications Inc                                                      | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    136098 | NS      | $6019614.54   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                                  | MasTec Inc                                                                      | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     17678 | NS      | $3211915.82   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DARDEN RESTAURANTS INC                      | Darden Restaurants Inc                                                          | CUSIP: 237194AP0<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |    305000 | PA      | $306439.11    | 0.02%             | 2027-10-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| GENTING NY LLC/GENNY CAP                    | Genting New York LLC / GENNY Capital Inc                                        | CUSIP: 37255JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     66000 | PA      | $68538.80     | 0.00%             | 2029-10-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Expand Energy Corp                          | Expand Energy Corp                                                              | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |       613 | NS      | $59326.14     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                              | TechnipFMC PLC                                                                  | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     73213 | NS      | $2691309.88   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                 | NVIDIA Corp                                                                     | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    296525 | NS      | $51648724.50  | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BBVA                                        | Banco Bilbao Vizcaya Argentaria SA                                              | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | EC               | CORP              | ES        |     78608 | NS      | $1430588.06   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8445.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                          | Banco Santander SA                                                              | CUSIP: 05964HAQ8<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1000000 | PA      | $998385.57    | 0.06%             | 2028-03-24      | Fixed         | 4.17%                 | No            |                  2 | On Loan: No      |
| SAIC Motor Corp Ltd                         | SAIC Motor Corp Ltd                                                             | CUSIP: 000000000<br>LEI: 30030001QBC7EXJJGT71 | Long             | EC               | CORP              | CN        |     32200 | NS      | $84839.71     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                     | Global Partners LP / GLP Finance Corp                                           | CUSIP: 37954FAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     21000 | PA      | $21281.53     | 0.00%             | 2029-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                      | Telecom Italia Capital SA                                                       | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     81000 | PA      | $85738.74     | 0.01%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Apple Inc                                   | Apple Inc                                                                       | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    198966 | NS      | $46187967.24  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XX50<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    378280 | PA      | $376559.90    | 0.02%             | 2053-04-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUB SVC NEW HAMP                            | Public Service Co of New Hampshire                                              | CUSIP: 744482BP4<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |    360000 | PA      | $332217.46    | 0.02%             | 2053-01-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fair Isaac Corp                             | Fair Isaac Corp                                                                 | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       249 | NS      | $378888.36    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET GRP/JSG FIN                     | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $144669.84    | 0.01%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HD Korea Shipbuilding & Offsho              | HD Korea Shipbuilding & Offshore Engineering Co Ltd                             | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |       320 | NS      | $93257.03     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                           | Eversource Energy                                                               | CUSIP: 30040WAQ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $981950.00    | 0.06%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Intel Corp                                  | Intel Corp                                                                      | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     39842 | NS      | $970152.70    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUS XM RADIO LLC                         | Sirius XM Radio LLC                                                             | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    382000 | PA      | $355185.69    | 0.02%             | 2030-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                        | Freeport-McMoRan Inc                                                            | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     30919 | NS      | $1372803.60   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BAUSCH + LOMB CORP                          | Bausch + Lomb Corp                                                              | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |    194000 | PA      | $202080.10    | 0.01%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| United Utilities Group PLC                  | United Utilities Group PLC                                                      | CUSIP: 000000000<br>LEI: 2138002IEYQAOC88ZJ59 | Long             | EC               | CORP              | GB        |     41277 | NS      | $641281.54    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ASMedia Technology Inc                      | ASMedia Technology Inc                                                          | CUSIP: 000000000<br>LEI: 529900CQG67FQMMNX678 | Long             | EC               | CORP              | TW        |      1000 | NS      | $53337.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ConocoPhillips                              | ConocoPhillips                                                                  | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |      5595 | NS      | $553737.15    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                                  | US Bancorp                                                                      | CUSIP: 91159HJR2<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    130000 | PA      | $135479.33    | 0.01%             | 2035-01-23      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     61000 | PA      | $62939.19     | 0.00%             | 2031-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                    | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35122.22     | 0.00%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ALLEGION US HOLDING CO                      | Allegion US Holding Co Inc                                                      | CUSIP: 01748NAE4<br>LEI: 5493002B66JX7J7SXI33 | Long             | DBT              | CORP              | US        |     45000 | PA      | $44297.72     | 0.00%             | 2027-10-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| NSTAR ELECTRIC CO                           | NSTAR Electric Co                                                               | CUSIP: 67021CAN7<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $970508.99    | 0.06%             | 2029-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Experian PLC                                | Experian PLC                                                                    | CUSIP: 000000000<br>LEI: 635400RXXHHYT1JTSZ26 | Long             | EC               | CORP              | IE        |     65126 | NS      | $3375842.35   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Walmart Inc                                 | Walmart Inc                                                                     | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    123716 | NS      | $11997977.68  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GQ5U2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    189161 | PA      | $196861.44    | 0.01%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Heineken NV                                 | Heineken NV                                                                     | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |       265 | NS      | $21494.14     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                      | CUSIP: 80282KBG0<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |    890000 | PA      | $936050.56    | 0.05%             | 2029-06-12      | Fixed         | 6.57%                 | No            |                  2 | On Loan: No      |
| BioMarin Pharmaceutical Inc                 | BioMarin Pharmaceutical Inc                                                     | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      3888 | NS      | $226553.76    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                               | Allstate Corp/The                                                               | CUSIP: 020002BG5<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | DBT              | CORP              | US        |    510000 | PA      | $383614.40    | 0.02%             | 2049-08-10      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F012494<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    888750 | PA      | $794362.91    | 0.05%             | 2040-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VALLOUREC SACA                              | Vallourec SACA                                                                  | CUSIP: 92023RAA8<br>LEI: 969500P2Q1B47H4MCJ34 | Long             | DBT              | CORP              | FR        |     95000 | PA      | $100888.48    | 0.01%             | 2032-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| QUEST DIAGNOSTICS INC                       | Quest Diagnostics Inc                                                           | CUSIP: 74834LBF6<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1218482.69   | 0.07%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Repsol SA                                   | Repsol SA                                                                       | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |     60196 | NS      | $986979.81    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| PENTAIR FINANCE SARL                        | Pentair Finance Sarl                                                            | CUSIP: 709629AS8<br>LEI: 549300H2U8U8TZPV3T89 | Long             | DBT              | CORP              | LU        |    740000 | PA      | $779970.84    | 0.05%             | 2032-07-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CEF4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12000000 | PA      | $11780625.00  | 0.69%             | 2027-03-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                    | Willis North America Inc                                                        | CUSIP: 970648AN1<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |    770000 | PA      | $759210.12    | 0.04%             | 2054-03-05      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                       | Keysight Technologies Inc                                                       | CUSIP: 49338LAG8<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |     95000 | PA      | $94249.58     | 0.01%             | 2034-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280EL9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    640000 | PA      | $657122.62    | 0.04%             | 2035-11-18      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    311000 | PA      | $315132.88    | 0.02%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| U-PRESID CHINA                              | Uni-President China Holdings Ltd                                                | CUSIP: 000000000<br>LEI: 529900JUA05094TOKA73 | Long             | EC               | CORP              | CN        |    113000 | NS      | $134979.79    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP                    | Atlanticus Holdings Corp                                                        | CUSIP: 04914AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    275000 | PA      | $273549.66    | 0.02%             | 2030-09-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Realtek Semiconductor Corp                  | Realtek Semiconductor Corp                                                      | CUSIP: 000000000<br>LEI: 5299002E7F36O00MYY75 | Long             | EC               | CORP              | TW        |     21000 | NS      | $364855.02    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| AUTOMATIC DATA PROCESSNG                    | Automatic Data Processing Inc                                                   | CUSIP: 053015AJ2<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | DBT              | CORP              | US        |    590000 | PA      | $602526.53    | 0.04%             | 2032-05-08      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HD Hyundai Construction Equipm              | HD Hyundai Construction Equipment Co Ltd                                        | CUSIP: 000000000<br>LEI: 988400SUTJA1BDSX0Y30 | Long             | EC               | CORP              | KR        |      1046 | NS      | $65360.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    440000 | PA      | $432881.35    | 0.03%             | 2027-03-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                    | Willis North America Inc                                                        | CUSIP: 970648AL5<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |    570000 | PA      | $573706.30    | 0.03%             | 2027-06-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ROPER TECHNOLOGIES INC                      | Roper Technologies Inc                                                          | CUSIP: 776696AM8<br>LEI: 54930003T4SXCIWVXY35 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109732.58    | 0.01%             | 2035-09-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE MORTGAGE TR                      | Blackstone Mortgage Trust Inc                                                   | CUSIP: 09257WAF7<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              | CORP              | US        |     52000 | PA      | $55448.17     | 0.00%             | 2029-12-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                        | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    123000 | PA      | $122384.91    | 0.01%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero               | Bank Rakyat Indonesia Persero Tbk PT                                            | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |   2837100 | NS      | $696458.08    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Hapoalim BM                            | Bank Hapoalim BM                                                                | CUSIP: 000000000<br>LEI: B6ARUI4946ST4S7WOU88 | Long             | EC               | CORP              | IL        |     14074 | NS      | $275059.67    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179W2T4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1750039 | PA      | $1434120.42   | 0.08%             | 2052-04-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| PENTAIR FINANCE SARL                        | Pentair Finance Sarl                                                            | CUSIP: 709629AR0<br>LEI: 549300H2U8U8TZPV3T89 | Long             | DBT              | CORP              | LU        |   1580000 | PA      | $1587732.20   | 0.09%             | 2029-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                      | Match Group Holdings II LLC                                                     | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |    165000 | PA      | $166814.51    | 0.01%             | 2033-09-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ADOBE INC                                   | Adobe Inc                                                                       | CUSIP: 00724PAD1<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | DBT              | CORP              | US        |   3570000 | PA      | $3321237.40   | 0.19%             | 2030-02-01      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                       | Keysight Technologies Inc                                                       | CUSIP: 49338LAF0<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1091782.65   | 0.06%             | 2029-10-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Natura Cosmeticos SA                        | Natura Cosmeticos SA                                                            | CUSIP: 000000000<br>LEI: 98450085D7XCFF5A9N75 | Long             | EC               | CORP              | BR        |    133806 | NS      | $221864.48    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GCI LLC                                     | GCI LLC                                                                         | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97388.50     | 0.01%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ FIN GRP                      | Mitsubishi UFJ Financial Group Inc                                              | CUSIP: 606822CC6<br>LEI: 353800V2V8PUY9TK3E06 | Long             | DBT              | CORP              | JP        |   1250000 | PA      | $1217419.20   | 0.07%             | 2028-01-19      | Fixed         | 2.34%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                    | Willis North America Inc                                                        | CUSIP: 970648AM3<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |    730000 | PA      | $750889.29    | 0.04%             | 2033-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| TALOS PRODUCTION INC                        | Talos Production Inc                                                            | CUSIP: 87485LAD6<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |    118000 | PA      | $121468.96    | 0.01%             | 2029-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CJ Corp                                     | CJ Corp                                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3558 | NS      | $407910.86    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom Inc                                | Broadcom Inc                                                                    | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     40202 | NS      | $11955672.78  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| DIRECTV FIN LLC/COINC                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                        | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    306000 | PA      | $304200.41    | 0.02%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| FISERV INC                                  | Fiserv Inc                                                                      | CUSIP: 337738BD9<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |    470000 | PA      | $483460.02    | 0.03%             | 2028-03-02      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Accenture PLC                               | Accenture PLC                                                                   | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     18373 | NS      | $4776428.81   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| RioCan REIT                                 | RioCan Real Estate Investment Trust                                             | CUSIP: 766910103<br>LEI: 549300S8HVUSEU3JBY60 | Long             | EC               | CORP              | CA        |     61429 | NS      | $826597.68    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647BZ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15390.77     | 0.00%             | 2034-01-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Autodesk Inc                                | Autodesk Inc                                                                    | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      3230 | NS      | $1016481.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                 | B3 SA - Brasil Bolsa Balcao                                                     | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |    565656 | NS      | $1358363.13   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QR2Q5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    196687 | PA      | $194758.84    | 0.01%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DVMH5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    237209 | PA      | $224709.06    | 0.01%             | 2053-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TEGNA INC                                   | TEGNA Inc                                                                       | CUSIP: 87901JAH8<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7007.27      | 0.00%             | 2029-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Procter & Gamble Co/The                     | Procter & Gamble Co/The                                                         | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     35404 | NS      | $5559844.16   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ENBRIDGE INC                                | Enbridge Inc                                                                    | CUSIP: 29250NBY0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |     75000 | PA      | $80742.51     | 0.00%             | 2030-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| US BANCORP                                  | US Bancorp                                                                      | CUSIP: 91159HJU5<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    850000 | PA      | $869784.58    | 0.05%             | 2036-02-12      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Fairfax Financial Holdings Ltd              | Fairfax Financial Holdings Ltd                                                  | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |       875 | NS      | $1506374.92   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TEGNA INC                                   | TEGNA Inc                                                                       | CUSIP: 87901JAJ4<br>LEI: 549300YC5EDBGX85AO10 | Long             | DBT              | CORP              | US        |     48000 | PA      | $47602.19     | 0.00%             | 2028-03-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QTW39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     70889 | PA      | $73979.02     | 0.00%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CSX CORP                                    | CSX Corp                                                                        | CUSIP: 126408HY2<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | DBT              | CORP              | US        |     60000 | PA      | $53108.99     | 0.00%             | 2055-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| UNITED NATURAL FOODS INC                    | United Natural Foods Inc                                                        | CUSIP: 911163AA1<br>LEI: 549300GKGW6WPZ282D40 | Long             | DBT              | CORP              | US        |    216000 | PA      | $215586.53    | 0.01%             | 2028-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CME Group Inc                               | CME Group Inc                                                                   | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      3998 | NS      | $1065506.98   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                                 | Corteva Inc                                                                     | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     25390 | NS      | $1883684.10   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY BANK NA                      | Morgan Stanley Bank NA                                                          | CUSIP: 61690U8G8<br>LEI: G1MLHIS0N32I3QPILB75 | Long             | DBT              | CORP              | US        |    900000 | PA      | $900727.34    | 0.05%             | 2027-10-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp                             | McDonald's Corp                                                                 | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      6532 | NS      | $2048043.28   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QUEST DIAGNOSTICS INC                       | Quest Diagnostics Inc                                                           | CUSIP: 74834LBE9<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | DBT              | CORP              | US        |    980000 | PA      | $990687.74    | 0.06%             | 2027-12-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Exxon Mobil Corp                            | Exxon Mobil Corp                                                                | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      7209 | NS      | $823916.61    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                              | Home Depot Inc/The                                                              | CUSIP: 437076CJ9<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1236951.11   | 0.07%             | 2031-09-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                         | Gilead Sciences Inc                                                             | CUSIP: 375558BZ5<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    570000 | PA      | $592121.03    | 0.03%             | 2033-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810RV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $3714062.50   | 0.22%             | 2047-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CONOCOPHILLIPS COMPANY                      | ConocoPhillips Co                                                               | CUSIP: 20826FBL9<br>LEI: 6VJJ5GQWIRDQ06DUXG89 | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1654912.65   | 0.10%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132CXDN9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     22987 | PA      | $22593.49     | 0.00%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                      | Telecom Italia Capital SA                                                       | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |     82000 | PA      | $89478.62     | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| Shell PLC                                   | Shell PLC                                                                       | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    244543 | NS      | $9003919.07   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KRVX9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    138023 | PA      | $142413.45    | 0.01%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                  | USD/AUD FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2411.65     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ReNew Energy Global PLC                     | ReNew Energy Global PLC                                                         | CUSIP: 000000000<br>LEI: 254900SL77LA2KAG7R65 | Long             | EC               | CORP              | IN        |     98037 | NS      | $746061.57    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEGONA FINANCE PLC                          | Zegona Finance PLC                                                              | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |    128000 | PA      | $136144.64    | 0.01%             | 2029-07-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Dino Polska SA                              | Dino Polska SA                                                                  | CUSIP: 000000000<br>LEI: 259400H4L81SMPRTW956 | Long             | EC               | CORP              | PL        |      7600 | NS      | $94829.08     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DWBZ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   3408095 | PA      | $2850264.46   | 0.17%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| KELLANOVA                                   | Kellanova                                                                       | CUSIP: 487836BU1<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |    670000 | PA      | $660848.70    | 0.04%             | 2027-11-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XHHM2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1648988 | PA      | $1513346.17   | 0.09%             | 2037-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Novartis AG                                 | Novartis AG                                                                     | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |     66131 | NS      | $8370338.90   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| TEXAS INSTRUMENTS INC                       | Texas Instruments Inc                                                           | CUSIP: 882508BL7<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |    459000 | PA      | $404124.57    | 0.02%             | 2031-09-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| BREAD FINANCIAL HLDGS                       | Bread Financial Holdings Inc                                                    | CUSIP: 018581AP3<br>LEI: 549300G8S4PO686J7H97 | Long             | DBT              | CORP              | US        |    220000 | PA      | $235094.86    | 0.01%             | 2029-03-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179W5B0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    692005 | PA      | $590138.09    | 0.03%             | 2052-05-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1885576.81  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| ASPEED Technology Inc                       | ASPEED Technology Inc                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     10000 | NS      | $1625448.11   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Best Buy Co Inc                             | Best Buy Co Inc                                                                 | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      5851 | NS      | $430867.64    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                                    | eBay Inc                                                                        | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |       354 | NS      | $32075.94     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc                         | Delta Air Lines Inc                                                             | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     55187 | NS      | $3409452.86   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                             | CUSIP: 025816CS6<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    700000 | PA      | $684715.56    | 0.04%             | 2027-03-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Elevance Health Inc                         | Elevance Health Inc                                                             | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      5513 | NS      | $1756717.45   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Bank AG                            | Deutsche Bank AG                                                                | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | EC               | CORP              | DE        |      2132 | NS      | $74910.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                             | ASML Holding NV                                                                 | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       796 | NS      | $591103.76    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                         | Gilead Sciences Inc                                                             | CUSIP: 375558CA9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    720000 | PA      | $704255.70    | 0.04%             | 2053-10-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| VISA INC                                    | Visa Inc                                                                        | CUSIP: 92826CAJ1<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    630000 | PA      | $486568.43    | 0.03%             | 2047-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MONTREAL EXCHANGE INC.                      | S&P/TSX 60 IX                                                                   | CUSIP: 000000000<br>LEI: 549300DKBYNOI0B1NP44 | N/A              | DE               | CORP              | CA        |       -15 | NC      | $-238404.05   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Nokia Oyj                                   | Nokia Oyj                                                                       | CUSIP: 000000000<br>LEI: 549300A0JPRWG1KI7U06 | Long             | EC               | CORP              | FI        |    483403 | NS      | $2081022.38   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| INTUIT INC                                  | Intuit Inc                                                                      | CUSIP: 46124HAG1<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |    300000 | PA      | $311143.55    | 0.02%             | 2033-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Hanover Insurance Group Inc/Th              | Hanover Insurance Group Inc/The                                                 | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |       832 | NS      | $144335.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NatWest Group PLC                           | NatWest Group PLC                                                               | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | EC               | CORP              | GB        |     76832 | NS      | $530305.22    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Aristocrat Leisure Ltd                      | Aristocrat Leisure Ltd                                                          | CUSIP: 000000000<br>LEI: 529900TE2HO3OZKYKC27 | Long             | EC               | CORP              | AU        |     31868 | NS      | $1511072.03   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                        | IBM International Capital Pte Ltd                                               | CUSIP: 449276AG9<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |   1540000 | PA      | $1425867.60   | 0.08%             | 2054-02-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Hyundai Elevator Co Ltd                     | Hyundai Elevator Co Ltd                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       311 | NS      | $17517.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Ultrapar Participacoes SA                   | Ultrapar Participacoes SA                                                       | CUSIP: 000000000<br>LEI: 529900FU4XBXGQMLRE72 | Long             | EC               | CORP              | BR        |    178321 | NS      | $647590.86    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 9128286T2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $15316249.92  | 0.90%             | 2029-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1000000 | PA      | $908398.44    | 0.05%             | 2044-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | S&P500 EMINI                                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -116 | NC      | $-1669070.35  | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| DIAGEO CAPITAL PLC                          | Diageo Capital PLC                                                              | CUSIP: 25243YBE8<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |    960000 | PA      | $826274.19    | 0.05%             | 2032-04-29      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Hyundai Engineering & Construc              | Hyundai Engineering & Construction Co Ltd                                       | CUSIP: 000000000<br>LEI: 988400CEQG9N710HN313 | Long             | EC               | CORP              | KR        |      6416 | NS      | $285381.29    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NSTAR ELECTRIC CO                           | NSTAR Electric Co                                                               | CUSIP: 67021CAP2<br>LEI: 54930080R72Y2Z31UR68 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991136.91    | 0.06%             | 2030-04-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals Inc               | Regeneron Pharmaceuticals Inc                                                   | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      1204 | NS      | $699162.80    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Group Corp                         | SoftBank Group Corp                                                             | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |      1100 | NS      | $118122.51    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                              | Home Depot Inc/The                                                              | CUSIP: 437076CH3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $978714.14    | 0.06%             | 2028-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                  | Intuit Inc                                                                      | CUSIP: 46124HAD8<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |   4690000 | PA      | $4171427.31   | 0.24%             | 2030-07-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F062697<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    250000 | PA      | $259067.61    | 0.02%             | 2055-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mercedes-Benz Group AG                      | Mercedes-Benz Group AG                                                          | CUSIP: 000000000<br>LEI: 529900R27DL06UVNT076 | Long             | EC               | CORP              | DE        |     21312 | NS      | $1333807.50   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QPX93<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    253673 | PA      | $237190.37    | 0.01%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | USD/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $20608.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CNX MIDSTREAM PART LP                       | CNX Midstream Partners LP                                                       | CUSIP: 12654AAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $52172.03     | 0.00%             | 2030-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                       | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36098.40     | 0.00%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Fox Corp                                    | Fox Corp                                                                        | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |       885 | NS      | $52834.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                     | Nissan Motor Acceptance Co LLC                                                  | CUSIP: 65480CAE5<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     52000 | PA      | $52350.48     | 0.00%             | 2026-09-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179YAR5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    466612 | PA      | $463006.83    | 0.03%             | 2053-07-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Haier Smart Home Co Ltd                     | Haier Smart Home Co Ltd                                                         | CUSIP: 000000000<br>LEI: 3003002BYTNGNJTWSH07 | Long             | EC               | CORP              | CN        |      6400 | NS      | $21732.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Orica Ltd                                   | Orica Ltd                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      4709 | NS      | $67579.75     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H060697<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2150000 | PA      | $2192628.82   | 0.13%             | 2055-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                          | Diageo Capital PLC                                                              | CUSIP: 25243YBD0<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |   1820000 | PA      | $1655177.34   | 0.10%             | 2030-04-29      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Elan Microelectronics Corp                  | Elan Microelectronics Corp                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     72000 | NS      | $279795.37    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | U.S. TREASURY BOND                                                              | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        22 | NC      | $-1926.98     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KELLANOVA                                   | Kellanova                                                                       | CUSIP: 487836BW7<br>LEI: LONOZNOJYIBXOHXWDB86 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3018844.68   | 0.18%             | 2028-05-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Allstate Corp/The                           | Allstate Corp/The                                                               | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      9027 | NS      | $1836543.15   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DELUXE CORP                                 | Deluxe Corp                                                                     | CUSIP: 248019AU5<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     28000 | PA      | $27726.82     | 0.00%             | 2029-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                  | Samsung Electronics Co Ltd                                                      | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     53384 | NS      | $2667053.80   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QBW20<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    581318 | PA      | $562947.41    | 0.03%             | 2034-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F040693<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1050000 | PA      | $979701.21    | 0.06%             | 2055-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Caterpillar Inc                             | Caterpillar Inc                                                                 | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      4995 | NS      | $2093104.80   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTEGROUP INC                              | PulteGroup Inc                                                                  | CUSIP: 745867AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1630000 | PA      | $1642820.18   | 0.10%             | 2027-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MDC HOLDINGS INC                            | MDC Holdings Inc                                                                | CUSIP: 552676AV0<br>LEI: 5299005FV4VNV75R8R35 | Long             | DBT              | CORP              | US        |    360000 | PA      | $229833.10    | 0.01%             | 2061-08-06      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                           | CUSIP: 527298BR3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    147000 | PA      | $134872.53    | 0.01%             | 2028-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR ULTRA                                                                   | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -24 | NC      | $-7365.36     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Analog Devices Inc                          | Analog Devices Inc                                                              | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      8928 | NS      | $2243695.68   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                          | Vodafone Group PLC                                                              | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |   1033587 | NS      | $1237642.23   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| GREAT LAKES DREDGE&DOCK                     | Great Lakes Dredge & Dock Corp                                                  | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |     48000 | PA      | $46137.06     | 0.00%             | 2029-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QS3Z2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    192921 | PA      | $199700.28    | 0.01%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                         | Diebold Nixdorf Inc                                                             | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |     35000 | PA      | $37029.41     | 0.00%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GQYP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31981 | PA      | $33403.94     | 0.00%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FirstService Corp                           | FirstService Corp                                                               | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |      8028 | NS      | $1616238.92   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                 | Netflix Inc                                                                     | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      6053 | NS      | $7313537.25   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Imperial Brands PLC                         | Imperial Brands PLC                                                             | CUSIP: 000000000<br>LEI: 549300DFVPOB67JL3A42 | Long             | EC               | CORP              | GB        |     16920 | NS      | $714577.22    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                      | CACI International Inc                                                          | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |    181000 | PA      | $186691.06    | 0.01%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 2 YEAR U.S. TREASURY NOTE                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       411 | NC      | $121454.20    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418EEA4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    294614 | PA      | $276377.05    | 0.02%             | 2037-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                            | UWM Holdings LLC                                                                | CUSIP: 903522AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    138000 | PA      | $140189.65    | 0.01%             | 2030-02-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Financial Grou              | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |    141700 | NS      | $3859283.92   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Kansai Electric Power Co Inc/T              | Kansai Electric Power Co Inc/The                                                | CUSIP: 000000000<br>LEI: 353800PFUKP5ONPJNZ86 | Long             | EC               | CORP              | JP        |      2100 | NS      | $29136.79     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Endeavour Mining PLC                        | Endeavour Mining PLC                                                            | CUSIP: 000000000<br>LEI: 529900NI5MXQ91GHXR07 | Long             | EC               | CORP              | GB        |     17296 | NS      | $601364.55    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lojas Renner SA                             | Lojas Renner SA                                                                 | CUSIP: 000000000<br>LEI: 52990032N7OAAM138D78 | Long             | EC               | CORP              | BR        |    980529 | NS      | $2938774.82   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| FOX CORP                                    | Fox Corp                                                                        | CUSIP: 35137LAK1<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |    300000 | PA      | $282828.97    | 0.02%             | 2049-01-25      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| Anglo American PLC                          | Anglo American PLC                                                              | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |      8245 | NS      | $253585.13    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Westinghouse Air Brake Technol              | Westinghouse Air Brake Technologies Corp                                        | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |      1106 | NS      | $214011.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    780000 | PA      | $809618.92    | 0.05%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                  | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3282597.33  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $696323.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F032690<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3850000 | PA      | $3477637.66   | 0.20%             | 2055-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CU1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    985000 | PA      | $1012378.66   | 0.06%             | 2034-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| DELUXE CORP                                 | Deluxe Corp                                                                     | CUSIP: 248019AW1<br>LEI: KWGNKB8TX9LE5TV29231 | Long             | DBT              | CORP              | US        |     94000 | PA      | $97925.63     | 0.01%             | 2029-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QPNY9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    429699 | PA      | $394225.69    | 0.02%             | 2037-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                       | American Airlines Inc                                                           | CUSIP: 023771T40<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    349000 | PA      | $365733.15    | 0.02%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Japan Tobacco Inc                           | Japan Tobacco Inc                                                               | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |     25900 | NS      | $823494.92    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Shanghai Commercial & Savings               | Shanghai Commercial & Savings Bank Ltd/The                                      | CUSIP: 000000000<br>LEI: 549300TLB5ALPCGBHN23 | Long             | EC               | CORP              | TW        |        99 | NS      | $132.50       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                         | FS KKR Capital Corp                                                             | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1038864.42   | 0.06%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                  | Intuit Inc                                                                      | CUSIP: 46124HAC0<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $954378.47    | 0.06%             | 2027-07-15      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132D6AC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     68136 | PA      | $62597.88     | 0.00%             | 2036-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 10 YEAR U.S. TREASURY NOTE                                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       386 | NC      | $102187.09    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                         | American Tower Corp                                                             | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |    425000 | PA      | $412758.27    | 0.02%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| OceanaGold Corp                             | OceanaGold Corp                                                                 | CUSIP: 675222400<br>LEI: 549300CBMSE8I9N3E232 | Long             | EC               | CORP              | CA        |      6232 | NS      | $113899.01    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TASEKO MINES LTD                            | Taseko Mines Ltd                                                                | CUSIP: 876511AG1<br>LEI: 549300XKUO1JSLU7KX54 | Long             | DBT              | CORP              | CA        |    131000 | PA      | $137730.13    | 0.01%             | 2030-05-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Novo Nordisk A/S                            | Novo Nordisk A/S                                                                | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     11676 | NS      | $659803.95    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| SANTANDER UK GROUP HLDGS                    | Santander UK Group Holdings PLC                                                 | CUSIP: 80281LAT2<br>LEI: 549300F5XIFGNNW4CF72 | Long             | DBT              | CORP              | GB        |   2420000 | PA      | $2535008.56   | 0.15%             | 2029-01-10      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| SERVICENOW INC                              | ServiceNow Inc                                                                  | CUSIP: 81762PAE2<br>LEI: 549300HJTQM36M0E1G39 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2628600.78   | 0.15%             | 2030-09-01      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| SALESFORCE INC                              | Salesforce Inc                                                                  | CUSIP: 79466LAM6<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |    920000 | PA      | $557145.74    | 0.03%             | 2061-07-15      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KRFB5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    210722 | PA      | $213966.91    | 0.01%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                   | Amgen Inc                                                                       | CUSIP: 031162CT5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |    650000 | PA      | $632728.22    | 0.04%             | 2027-02-21      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                         | FS KKR Capital Corp                                                             | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    445000 | PA      | $431558.12    | 0.03%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | 5 YEAR U.S. TREASURY NOTE                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -138 | NC      | $-34904.34    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                  | BYD Co Ltd                                                                      | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |      3000 | NS      | $42323.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                              | Sabre GLBL Inc                                                                  | CUSIP: 78573NAH5<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56650.00     | 0.00%             | 2027-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Amgen Inc                                   | Amgen Inc                                                                       | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      4325 | NS      | $1244345.75   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INC                       | Texas Instruments Inc                                                           | CUSIP: 882508BP8<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | DBT              | CORP              | US        |   3545000 | PA      | $3374403.15   | 0.20%             | 2032-08-16      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Macquarie Group Ltd                         | Macquarie Group Ltd                                                             | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |      2565 | NS      | $376201.57    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                                | CUSIP: 126307BM8<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    110000 | PA      | $109935.77    | 0.01%             | 2028-05-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| NEW GOLD INC                                | New Gold Inc                                                                    | CUSIP: 644535AJ5<br>LEI: 5493005G0GNCHP0H6L96 | Long             | DBT              | CORP              | CA        |    179000 | PA      | $186583.69    | 0.01%             | 2032-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Toll Brothers Inc                           | Toll Brothers Inc                                                               | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      2257 | NS      | $313723.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CR8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    330000 | PA      | $315230.50    | 0.02%             | 2053-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC                     | Enova International Inc                                                         | CUSIP: 29357KAK9<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    174000 | PA      | $183476.04    | 0.01%             | 2029-08-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | ULTRA U.S. TREASURY BOND                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |      -897 | NC      | $598200.33    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F020497<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    836250 | PA      | $767136.13    | 0.04%             | 2040-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Nutanix Inc                                 | Nutanix Inc                                                                     | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |      7631 | NS      | $512879.51    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT ACCEPTANC                            | Credit Acceptance Corp                                                          | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $91164.25     | 0.01%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                       | Mexico Government International Bond                                            | CUSIP: 91087BBD1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    550000 | PA      | $574846.03    | 0.03%             | 2055-05-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Allianz SE                                  | Allianz SE                                                                      | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      2468 | NS      | $1043427.63   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132E07G1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    134482 | PA      | $138463.00    | 0.01%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Skanska AB                                  | Skanska AB                                                                      | CUSIP: 000000000<br>LEI: 549300UINV5RINHGMG07 | Long             | EC               | CORP              | SE        |     10756 | NS      | $267115.98    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179W5C8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1801796 | PA      | $1596247.03   | 0.09%             | 2052-05-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REGENERON PHARMACEUTICAL                    | Regeneron Pharmaceuticals Inc                                                   | CUSIP: 75886FAE7<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | DBT              | CORP              | US        |   4076000 | PA      | $3587421.86   | 0.21%             | 2030-09-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418EKK5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     43763 | PA      | $43000.95     | 0.00%             | 2037-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | NASDAQ 100 E-MINI                                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |      -103 | NC      | $-2701319.39  | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL INC                         | Coinbase Global Inc                                                             | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    188000 | PA      | $178387.43    | 0.01%             | 2028-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Nice Ltd                                    | Nice Ltd                                                                        | CUSIP: 000000000<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |      3647 | NS      | $514100.79    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Thales SA                                   | Thales SA                                                                       | CUSIP: 000000000<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |      4177 | NS      | $1098715.86   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| VeriSign Inc                                | VeriSign Inc                                                                    | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |      1862 | NS      | $509014.94    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd                | Takeda Pharmaceutical Co Ltd                                                    | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    150400 | NS      | $4527455.20   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                     | Macy's Retail Holdings LLC                                                      | CUSIP: 55617LAS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $77008.58     | 0.00%             | 2033-08-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sumitomo Chemical Co Ltd                    | Sumitomo Chemical Co Ltd                                                        | CUSIP: 000000000<br>LEI: 353800RSAU9BD8U4DM91 | Long             | EC               | CORP              | JP        |     28200 | NS      | $84589.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                                | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123108.12    | 0.01%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                          | Viking Cruises Ltd                                                              | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    108000 | PA      | $116359.96    | 0.01%             | 2031-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                            | Ventas Realty LP                                                                | CUSIP: 92277GBB2<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              | CORP              | US        |    900000 | PA      | $920903.68    | 0.05%             | 2032-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | MSCI EMGMKT                                                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |        15 | NC      | $25695.20     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp                | Wheaton Precious Metals Corp                                                    | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     85397 | NS      | $8576076.19   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WJR0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1726122 | PA      | $1472027.44   | 0.09%             | 2051-07-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                                | VeriSign Inc                                                                    | CUSIP: 92343EAQ5<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |    205000 | PA      | $209055.50    | 0.01%             | 2032-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                          | Banco Santander SA                                                              | CUSIP: 05964HAY1<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1600000 | PA      | $1712291.17   | 0.10%             | 2028-11-07      | Fixed         | 6.61%                 | No            |                  2 | On Loan: No      |
| ALTA EQUIPMENT GROUP                        | Alta Equipment Group Inc                                                        | CUSIP: 02128LAC0<br>LEI: 549300DGOB28CLGS1X27 | Long             | DBT              | CORP              | US        |    164000 | PA      | $156032.34    | 0.01%             | 2029-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BRF SA                                      | BRF SA                                                                          | CUSIP: 000000000<br>LEI: 254900MTXR9LUVQFU480 | Long             | EC               | CORP              | BR        |     61507 | NS      | $233351.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PAGAYA US HOLDINGS CO                       | Pagaya US Holdings Co LLC                                                       | CUSIP: 69549FAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    249000 | PA      | $249640.65    | 0.01%             | 2030-08-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| COPASA                                      | Cia de Saneamento de Minas Gerais Copasa MG                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     18447 | NS      | $102206.42    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI AVIATION INVESTORS                     | FTAI Aviation Investors LLC                                                     | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |     48000 | PA      | $50095.44     | 0.00%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| J Sainsbury PLC                             | J Sainsbury PLC                                                                 | CUSIP: 000000000<br>LEI: 213800VGZAAJIKJ9Y484 | Long             | EC               | CORP              | GB        |     14559 | NS      | $58912.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | S&P500 EMINI                                                                    | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        17 | NC      | $152496.70    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung E&A Co Ltd                          | Samsung E&A Co Ltd                                                              | CUSIP: 000000000<br>LEI: 988400HDAY5KIVHGZ188 | Long             | EC               | CORP              | KR        |     21145 | NS      | $440942.49    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                      | Bank of New York Mellon Corp/The                                                | CUSIP: 06406RBP1<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |    630000 | PA      | $627814.02    | 0.04%             | 2034-02-01      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| SAP SE                                      | SAP SE                                                                          | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |      2277 | NS      | $619791.18    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 682691AE0<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    173000 | PA      | $183030.89    | 0.01%             | 2030-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Salesforce Inc                              | Salesforce Inc                                                                  | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     39477 | NS      | $10115981.25  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140W1KL6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1353604 | PA      | $1388770.60   | 0.08%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810SE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2600000 | PA      | $2028914.06   | 0.12%             | 2048-11-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                      | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BV6<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    610000 | PA      | $619369.80    | 0.04%             | 2028-01-21      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Intertek Group PLC                          | Intertek Group PLC                                                              | CUSIP: 000000000<br>LEI: 2138003GAT25WW1RN369 | Long             | EC               | CORP              | GB        |     26673 | NS      | $1691792.68   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $995712.23    | 0.06%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | MSCI EAFE                                                                       | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |        15 | NC      | $87975.20     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PL              | London Stock Exchange Group PLC                                                 | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |      5812 | NS      | $720299.19    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley                              | Morgan Stanley                                                                  | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     63413 | NS      | $9542388.24   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| MIZUHO FINANCIAL GROUP                      | Mizuho Financial Group Inc                                                      | CUSIP: 60687YBS7<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | DBT              | CORP              | JP        |   1850000 | PA      | $1807335.74   | 0.11%             | 2027-07-09      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| Tesla Inc                                   | Tesla Inc                                                                       | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     26464 | NS      | $8835535.68   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                   | Coca-Cola Femsa SAB de CV                                                       | CUSIP: 000000000<br>LEI: 5493008KEVFYPMGTXO33 | Long             | EC               | CORP              | MX        |     11724 | NS      | $99378.72     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                               | Medtronic PLC                                                                   | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     55091 | NS      | $5112995.71   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F042699<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2325000 | PA      | $2235969.96   | 0.13%             | 2055-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NVR Inc                                     | NVR Inc                                                                         | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       122 | NS      | $990353.30    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                    | Lindblad Expeditions LLC                                                        | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35843.53     | 0.00%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                            | Credit Acceptance Corp                                                          | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    153000 | PA      | $161519.81    | 0.01%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MERRILL LYNCH INTERNATIONAL                 | TRS NDUEACWF INDEX                                                              | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               | CORP              | GB        |         1 | NC      | $4368179.00   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                    | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748BT8<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |    800000 | PA      | $764582.70    | 0.04%             | 2053-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                               | CoreWeave Inc                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    187000 | PA      | $185129.33    | 0.01%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KPUC0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     14386 | PA      | $13931.91     | 0.00%             | 2052-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| E-MART Inc                                  | E-MART Inc                                                                      | CUSIP: 000000000<br>LEI: 988400SAX0Q74FRA9981 | Long             | EC               | CORP              | KR        |       410 | NS      | $21050.27     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CHAMPION IRON CANADA INC                    | Champion Iron Canada Inc                                                        | CUSIP: 15853BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |     90000 | PA      | $93927.33     | 0.01%             | 2032-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Marfrig Global Foods SA                     | Marfrig Global Foods SA                                                         | CUSIP: 000000000<br>LEI: 391200219USWMOBN3F92 | Long             | EC               | CORP              | BR        |     52654 | NS      | $242591.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                    | Discovery Communications LLC                                                    | CUSIP: 25470DBY4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     90000 | PA      | $66430.80     | 0.00%             | 2037-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                    | iHeartCommunications Inc                                                        | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    222000 | PA      | $190206.68    | 0.01%             | 2029-05-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| Rockchip Electronics Co Ltd                 | Rockchip Electronics Co Ltd                                                     | CUSIP: 000000000<br>LEI: 8368002HC3QUMAKOPK03 | Long             | EC               | CORP              | CN        |     37500 | NS      | $1295241.27   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179W7K8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3853295 | PA      | $3413711.23   | 0.20%             | 2052-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IBM INTERNAT CAPITAL                        | IBM International Capital Pte Ltd                                               | CUSIP: 449276AE4<br>LEI: 2549007KTXQQBYZO7485 | Long             | DBT              | CORP              | SG        |   2550000 | PA      | $2555341.66   | 0.15%             | 2034-02-05      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Applied Industrial Technologie              | Applied Industrial Technologies Inc                                             | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |       297 | NS      | $78283.26     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                             | T-Mobile US Inc                                                                 | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      3315 | NS      | $835346.85    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                              | Microsoft Corp                                                                  | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     93717 | NS      | $47485466.73  | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                                      | AXA SA                                                                          | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     46111 | NS      | $2147742.50   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| EDP SA                                      | EDP SA                                                                          | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | EC               | CORP              | PT        |      4849 | NS      | $21475.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9000000 | PA      | $8822812.50   | 0.52%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Block Inc                                   | Block Inc                                                                       | CUSIP: 852234103<br>LEI: 549300OHIIUWSTIZME52 | Long             | EC               | CORP              | US        |      5581 | NS      | $444470.84    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN AIRLINES INC                       | American Airlines Inc                                                           | CUSIP: 023771T32<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    218000 | PA      | $223653.18    | 0.01%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INTERPUBLIC GROUP COS                       | Interpublic Group of Cos Inc/The                                                | CUSIP: 460690BP4<br>LEI: 5493008IUOJ5VWTRC333 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503850.01    | 0.03%             | 2028-10-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Grupo Cibest SA                             | Grupo Cibest SA                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | CO        |     24294 | NS      | $306241.37    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | MSCI EMGMKT                                                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |      -214 | NC      | $-720724.18   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XBT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    672660 | PA      | $632682.29    | 0.04%             | 2052-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    178000 | PA      | $186594.55    | 0.01%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                           | Rakuten Group Inc                                                               | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    200000 | PA      | $216249.01    | 0.01%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| EQUINIX INC                                 | Equinix Inc                                                                     | CUSIP: 29444UBQ8<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $979354.66    | 0.06%             | 2026-05-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                  | Zoetis Inc                                                                      | CUSIP: 98978VAL7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    640000 | PA      | $627187.83    | 0.04%             | 2027-09-12      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967MS7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2140000 | PA      | $1964543.93   | 0.11%             | 2031-06-03      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F020695<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2650000 | PA      | $2104021.53   | 0.12%             | 2055-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBY8<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     65000 | PA      | $61750.00     | 0.00%             | 2029-03-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                           | Johnson & Johnson                                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      4493 | NS      | $796024.81    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MGIC INVESTMENT CORP                        | MGIC Investment Corp                                                            | CUSIP: 552848AG8<br>LEI: 254900S8483WM4M98R28 | Long             | DBT              | CORP              | US        |   2930000 | PA      | $2931168.48   | 0.17%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                          | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    100000 | PA      | $109941.40    | 0.01%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GoDaddy Inc                                 | GoDaddy Inc                                                                     | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |      6159 | NS      | $913441.29    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                  | AbbVie Inc                                                                      | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     21750 | NS      | $4576200.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| VIKING CRUISES LTD                          | Viking Cruises Ltd                                                              | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $100681.90    | 0.01%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WNC Corp /Taiwan                            | WNC Corp /Taiwan                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     12000 | NS      | $49548.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F030496<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1000000 | PA      | $956011.72    | 0.06%             | 2040-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FACTSET RESEARCH SYSTEMS                    | FactSet Research Systems Inc                                                    | CUSIP: 303075AA3<br>LEI: 549300ZSJE7NBK6K9P30 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2943381.57   | 0.17%             | 2027-03-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                 | Xiaomi Corp                                                                     | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | CN        |    375600 | NS      | $2563413.89   | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Polska Kasa Opieki SA                  | Bank Polska Kasa Opieki SA                                                      | CUSIP: 000000000<br>LEI: 5493000LKS7B3UTF7H35 | Long             | EC               | CORP              | PL        |      5907 | NS      | $297528.35    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Techtronic Industries Co Ltd                | Techtronic Industries Co Ltd                                                    | CUSIP: 000000000<br>LEI: 549300HZW2SBE758OK89 | Long             | EC               | CORP              | HK        |     62500 | NS      | $808274.89    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp                      | Accton Technology Corp                                                          | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |      9000 | NS      | $296301.51    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                              | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     25000 | PA      | $25472.68     | 0.00%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce Holdings PLC                    | Rolls-Royce Holdings PLC                                                        | CUSIP: 000000000<br>LEI: 213800EC7997ZBLZJH69 | Long             | EC               | CORP              | GB        |    202849 | NS      | $2925153.61   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GTBQ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    278834 | PA      | $281424.52    | 0.02%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132E0AC6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    222963 | PA      | $230619.14    | 0.01%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 682691AH3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    104000 | PA      | $106941.85    | 0.01%             | 2029-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Sercomm Corp                                | Sercomm Corp                                                                    | CUSIP: 000000000<br>LEI: 254900MJ2QQG3VODNZ25 | Long             | EC               | CORP              | TW        |     22000 | NS      | $75472.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                     | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    151000 | PA      | $143038.15    | 0.01%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                              | Mastercard Inc                                                                  | CUSIP: 57636QAU8<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1275065.97   | 0.07%             | 2031-11-18      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ED64<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1365843 | PA      | $1185876.48   | 0.07%             | 2052-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418FBP1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    863394 | PA      | $882210.77    | 0.05%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 31427M5E7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1101510 | PA      | $1144639.47   | 0.07%             | 2055-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                     | Philippine Government International Bond                                        | CUSIP: 718286DH7<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    400000 | PA      | $416658.96    | 0.02%             | 2050-02-04      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc                                | Alphabet Inc                                                                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     79909 | NS      | $17013425.19  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967MP3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1666286.97   | 0.10%             | 2031-03-31      | Fixed         | 4.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ECU2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1068787 | PA      | $980213.06    | 0.06%             | 2037-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Interactive Brokers Group Inc               | Interactive Brokers Group Inc                                                   | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |      1710 | NS      | $106430.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GEA Group AG                                | GEA Group AG                                                                    | CUSIP: 000000000<br>LEI: 549300PHUU0ZZWO8EO07 | Long             | EC               | CORP              | DE        |      7166 | NS      | $521590.64    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     69000 | PA      | $63097.44     | 0.00%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797QU4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9100000 | PA      | $9084904.83   | 0.53%             | 2025-09-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                      | Millicom International Cellular SA                                              | CUSIP: 600814AS6<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    168000 | PA      | $173166.00    | 0.01%             | 2032-04-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP                          | CNA Financial Corp                                                              | CUSIP: 126117AZ3<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |    400000 | PA      | $395971.46    | 0.02%             | 2035-08-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES CAPITAL SA                    | TotalEnergies Capital SA                                                        | CUSIP: 89157XAB7<br>LEI: 529900QI55ZLJVCMPA71 | Long             | DBT              | CORP              | FR        |    510000 | PA      | $485458.58    | 0.03%             | 2054-04-05      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp                      | Boston Scientific Corp                                                          | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     38241 | NS      | $4034425.50   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                                | QUALCOMM Inc                                                                    | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     31279 | NS      | $5027473.67   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QRKD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    389136 | PA      | $396722.05    | 0.02%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBW2<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    185000 | PA      | $124643.75    | 0.01%             | 2042-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Honeywell International Inc                 | Honeywell International Inc                                                     | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     40797 | NS      | $8954941.50   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| OSAIC HOLDINGS INC                          | Osaic Holdings Inc                                                              | CUSIP: 00791GAC1<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10132.14     | 0.00%             | 2033-08-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                     | Millrose Properties Inc                                                         | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $50450.00     | 0.00%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TRANE TECH FIN LTD                          | Trane Technologies Financing Ltd                                                | CUSIP: 456873AD0<br>LEI: 549300A5OEF3CJI2CO89 | Long             | DBT              | CORP              | IE        |   4610000 | PA      | $4565856.90   | 0.27%             | 2029-03-21      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UnitedHealth Group Inc                                                          | CUSIP: 91324PFA5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    420000 | PA      | $429609.29    | 0.03%             | 2031-04-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H052694<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2475000 | PA      | $2493167.64   | 0.15%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                        | Targa Resources Corp                                                            | CUSIP: 87612GAM3<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    570000 | PA      | $574144.47    | 0.03%             | 2035-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                      | WESCO Distribution Inc                                                          | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    105000 | PA      | $108907.68    | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Tesco PLC                                   | Tesco PLC                                                                       | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |    370186 | NS      | $2116000.76   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| KAROON USA FINANCE INC                      | Karoon USA Finance Inc                                                          | CUSIP: 48575AAA9<br>LEI: 254900I4IZ164TOMZH46 | Long             | DBT              | CORP              | US        |     33000 | PA      | $34161.11     | 0.00%             | 2029-05-14      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810SR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  23000000 | PA      | $14313007.87  | 0.84%             | 2040-05-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1165000 | PA      | $1200175.03   | 0.07%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| BlackRock Cash Funds - Institutional        | BlackRock Cash Funds - Institutional                                            | CUSIP: 066922519<br>LEI: 549300JDHS1T46VWOG19 | Long             | STIV             | RF                | US        |   3553645 | NS      | $3555421.91   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                      | Motorola Solutions Inc                                                          | CUSIP: 620076BT5<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    600000 | PA      | $539821.84    | 0.03%             | 2030-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KQKY1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     87656 | PA      | $89541.56     | 0.01%             | 2053-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ES43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    427391 | PA      | $423312.63    | 0.02%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MetLife Inc                                 | MetLife Inc                                                                     | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     49537 | NS      | $4030330.32   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONSTAR MTG HLD INC                      | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     69000 | PA      | $71735.16     | 0.00%             | 2032-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797QT7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | PA      | $299752.08    | 0.02%             | 2025-09-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| George Weston Ltd                           | George Weston Ltd                                                               | CUSIP: 961148509<br>LEI: 549300FAHC3L1QKNT280 | Long             | EC               | CORP              | CA        |      5486 | NS      | $353283.46    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Kasei Corp                            | Asahi Kasei Corp                                                                | CUSIP: 000000000<br>LEI: 353800GPI4Z3MGDGN142 | Long             | EC               | CORP              | JP        |     66200 | NS      | $540230.43    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Israel Discount Bank Ltd                    | Israel Discount Bank Ltd                                                        | CUSIP: 465074201<br>LEI: 549300XWZ7BG5G23OF51 | Long             | EC               | CORP              | IL        |     13742 | NS      | $136137.09    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                             | CUSIP: 025816DH9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   1020000 | PA      | $1052416.28   | 0.06%             | 2029-07-27      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| BAE Systems PLC                             | BAE Systems PLC                                                                 | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |    280200 | NS      | $6640979.88   | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                      | Resorts World Las Vegas LLC / RWLV Capital Inc                                  | CUSIP: 76120HAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     81000 | PA      | $81267.30     | 0.00%             | 2030-07-27      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| Axon Enterprise Inc                         | Axon Enterprise Inc                                                             | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       283 | NS      | $211483.07    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Assa Abloy AB                               | Assa Abloy AB                                                                   | CUSIP: 000000000<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |      1569 | NS      | $55440.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                        | OneMain Finance Corp                                                            | CUSIP: 85172FAQ2<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    174000 | PA      | $178397.85    | 0.01%             | 2028-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| UNDER ARMOUR INC                            | Under Armour Inc                                                                | CUSIP: 904311AD9<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |    184000 | PA      | $183714.23    | 0.01%             | 2030-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                 | Wayfair LLC                                                                     | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    113000 | PA      | $115218.08    | 0.01%             | 2029-10-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                            | LPL Holdings Inc                                                                | CUSIP: 50212YAM6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    830000 | PA      | $838921.37    | 0.05%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H030690<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    525000 | PA      | $464848.82    | 0.03%             | 2055-09-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                           | Iron Mountain Inc                                                               | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |    116000 | PA      | $119486.84    | 0.01%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TOTVS SA                                    | TOTVS SA                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     12120 | NS      | $96502.19     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL                      | American International Group Inc                                                | CUSIP: 026874DW4<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |    420000 | PA      | $429717.20    | 0.03%             | 2030-05-07      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                       | Delta Electronics Inc                                                           | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     28000 | NS      | $645057.43    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Corp                               | Sumitomo Corp                                                                   | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |     19100 | NS      | $534903.17    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Entergy Corp                                | Entergy Corp                                                                    | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     19120 | NS      | $1684280.80   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                      | Motorola Solutions Inc                                                          | CUSIP: 620076BU2<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   1990000 | PA      | $1814075.10   | 0.11%             | 2031-05-24      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Auto Trader Group PLC                       | Auto Trader Group PLC                                                           | CUSIP: 000000000<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |    115060 | NS      | $1249482.46   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| STEWART INFORMATION SERV                    | Stewart Information Services Corp                                               | CUSIP: 86038AAA0<br>LEI: 529900TV1XI0PLKENU10 | Long             | DBT              | CORP              | US        |    618000 | PA      | $555824.31    | 0.03%             | 2031-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                  | BYD Co Ltd                                                                      | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     43800 | NS      | $700741.13    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                      | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAG4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $122856.84    | 0.01%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                    | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748BW1<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1336032.26   | 0.08%             | 2034-03-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| AIA Group Ltd                               | AIA Group Ltd                                                                   | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |    773600 | NS      | $7352569.88   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                | MediaTek Inc                                                                    | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     73000 | NS      | $3243831.11   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Engie SA                                    | Engie SA                                                                        | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |    152457 | NS      | $3154846.29   | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Comcast Corp                                | Comcast Corp                                                                    | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     90093 | NS      | $3060459.21   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                    | iHeartCommunications Inc                                                        | CUSIP: 45174HBL0<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    219000 | PA      | $129564.45    | 0.01%             | 2030-05-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                              | Lowe's Cos Inc                                                                  | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1071718.80   | 0.06%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| Cheniere Energy Inc                         | Cheniere Energy Inc                                                             | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      2730 | NS      | $660168.60    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc               | Intercontinental Exchange Inc                                                   | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      8192 | NS      | $1446707.20   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH INC                         | Cardinal Health Inc                                                             | CUSIP: 14149YBS6<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |    740000 | PA      | $751543.74    | 0.04%             | 2034-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                 | Valaris Ltd                                                                     | CUSIP: 91889FAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    122000 | PA      | $127012.49    | 0.01%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3618N5EX3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     26813 | PA      | $27603.20     | 0.00%             | 2055-01-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Canadian Natural Resources Ltd              | Canadian Natural Resources Ltd                                                  | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     79055 | NS      | $2503441.91   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTURY ALUMINUM COMPANY                    | Century Aluminum Co                                                             | CUSIP: 156431AS7<br>LEI: 549300U5ODNGEYWKSW73 | Long             | DBT              | CORP              | US        |    122000 | PA      | $124693.76    | 0.01%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                       | CUSIP: 00774MBM6<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1140000 | PA      | $1124489.98   | 0.07%             | 2034-09-10      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| TORONTO DOMINION BANK                       | Toronto-Dominion Bank/The                                                       | CUSIP: 89114TZN5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1310000 | PA      | $1272982.74   | 0.07%             | 2027-01-12      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| PATRICK INDUSTRIES INC                      | Patrick Industries Inc                                                          | CUSIP: 703343AH6<br>LEI: 549300FZ5ZTCCJ3Z5W14 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69993.81     | 0.00%             | 2032-11-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                             | CUSIP: 025816DF3<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    450000 | PA      | $457157.39    | 0.03%             | 2034-05-01      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                       | VFH Parent LLC / Valor Co-Issuer Inc                                            | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    116000 | PA      | $121761.49    | 0.01%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DuPont de Nemours Inc                       | DuPont de Nemours Inc                                                           | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     25275 | NS      | $1944153.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                  | USD/CAD FORWARD                                                                 | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-176052.13   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                       | Venture Global Plaquemines LNG LLC                                              | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $104945.00    | 0.01%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Hitachi Ltd                                 | Hitachi Ltd                                                                     | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |      3900 | NS      | $105079.38    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                    | Sumitomo Mitsui Financial Group Inc                                             | CUSIP: 86562MCG3<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |   1310000 | PA      | $1226189.51   | 0.07%             | 2028-09-17      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DNUM3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    101572 | PA      | $94971.73     | 0.01%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Panasonic Holdings Corp                     | Panasonic Holdings Corp                                                         | CUSIP: 000000000<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |    104200 | NS      | $1054742.26   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Brother Industries Ltd                      | Brother Industries Ltd                                                          | CUSIP: 114813108<br>LEI: 549300O5FACQ67KI6R92 | Long             | EC               | CORP              | JP        |      4200 | NS      | $70773.38     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MARSH & MCLENNAN COS INC                    | Marsh & McLennan Cos Inc                                                        | CUSIP: 571748BV3<br>LEI: 549300XMP3KDCKJXIU47 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1021362.73   | 0.06%             | 2053-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TAMPA ELECTRIC CO                           | Tampa Electric Co                                                               | CUSIP: 875127BN1<br>LEI: WS423EPRKJIIJUITXD73 | Long             | DBT              | CORP              | US        |    670000 | PA      | $675385.36    | 0.04%             | 2035-03-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Wesfarmers Ltd                              | Wesfarmers Ltd                                                                  | CUSIP: 000000000<br>LEI: 5493003L32ZX9557ST85 | Long             | EC               | CORP              | AU        |     16437 | NS      | $984552.57    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Standard Chartered PLC                      | Standard Chartered PLC                                                          | CUSIP: 000000000<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | EC               | CORP              | GB        |     28301 | NS      | $530292.51    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Rambus Inc                                  | Rambus Inc                                                                      | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |      7256 | NS      | $535275.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                                | Alphabet Inc                                                                    | CUSIP: 02079KAL1<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   1800000 | PA      | $1785307.12   | 0.10%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Equinix Inc                                 | Equinix Inc                                                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      5269 | NS      | $4142435.11   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967ML2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1437666.68   | 0.08%             | 2031-01-29      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132D6HX1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    173026 | PA      | $169891.21    | 0.01%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE                    | Hudson Pacific Properties LP                                                    | CUSIP: 44409MAB2<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    136000 | PA      | $124995.34    | 0.01%             | 2029-04-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                              | BNP Paribas SA                                                                  | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |      8482 | NS      | $762233.26    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Chevron Corp                                | Chevron Corp                                                                    | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43854 | NS      | $7042952.40   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| HD HYUNDAI MIPO                             | HD HYUNDAI MIPO                                                                 | CUSIP: 000000000<br>LEI: 988400L1JDH871AJTA03 | Long             | EC               | CORP              | KR        |       161 | NS      | $23667.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H042695<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    475000 | PA      | $457414.25    | 0.03%             | 2055-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Alaska Air Group Inc                        | Alaska Air Group Inc                                                            | CUSIP: 011659109<br>LEI: 529900G48RT4KWLC6C27 | Long             | EC               | CORP              | US        |      5080 | NS      | $318922.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KPLY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     40543 | PA      | $37913.34     | 0.00%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                          | Banco Santander SA                                                              | CUSIP: 05964HAU9<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1800000 | PA      | $1871546.60   | 0.11%             | 2028-08-08      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc                      | Berkshire Hathaway Inc                                                          | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      3739 | NS      | $1880642.22   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                   | CUSIP: 829259AY6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     54000 | PA      | $44415.00     | 0.00%             | 2030-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    249000 | PA      | $252793.76    | 0.01%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                | US Foods Inc                                                                    | CUSIP: 90290MAH4<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    177000 | PA      | $185849.47    | 0.01%             | 2032-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Cia Brasileira de Aluminio                  | Cia Brasileira de Aluminio                                                      | CUSIP: 000000000<br>LEI: 5493001QYTIDILBVYO18 | Long             | EC               | CORP              | BR        |    118708 | NS      | $76630.30     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 6174468U6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   3020000 | PA      | $2619476.49   | 0.15%             | 2032-02-13      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| RELX CAPITAL INC                            | RELX Capital Inc                                                                | CUSIP: 74949LAG7<br>LEI: 2R15C3RTKJN1RCBOV146 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112372.65    | 0.01%             | 2035-03-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                           | Chile Government International Bond                                             | CUSIP: 168863DU9<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   1110000 | PA      | $668086.80    | 0.04%             | 2071-09-21      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| HD Hyundai Heavy Industries Co              | HD Hyundai Heavy Industries Co Ltd                                              | CUSIP: 000000000<br>LEI: 988400CAR8W9URQLGF30 | Long             | EC               | CORP              | KR        |       410 | NS      | $152950.18    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| IG Group Holdings PLC                       | IG Group Holdings PLC                                                           | CUSIP: 000000000<br>LEI: 2138003A5Q1M7ANOUD76 | Long             | EC               | CORP              | GB        |      2965 | NS      | $45295.48     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                      | Venture Global LNG Inc                                                          | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    211000 | PA      | $229753.47    | 0.01%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF POLAND                          | Republic of Poland Government International Bond                                | CUSIP: 731011AZ5<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    220000 | PA      | $206340.20    | 0.01%             | 2054-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                    | SK Invictus Intermediate II Sarl                                                | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    104000 | PA      | $101905.96    | 0.01%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                       | Manitowoc Co Inc/The                                                            | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     18000 | PA      | $18945.22     | 0.00%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                       | Bausch Health Cos Inc                                                           | CUSIP: 071734AQ0<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    287000 | PA      | $300991.25    | 0.02%             | 2028-09-30      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179YFM1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    148363 | PA      | $152128.46    | 0.01%             | 2053-09-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United Integrated Services Co               | United Integrated Services Co Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      3000 | NS      | $120005.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Leonardo SpA                                | Leonardo SpA                                                                    | CUSIP: 000000000<br>LEI: 529900X4EEX1U9LN3U39 | Long             | EC               | CORP              | IT        |      4524 | NS      | $257001.33    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Smiths Group PLC                            | Smiths Group PLC                                                                | CUSIP: 000000000<br>LEI: 213800MJL6IPZS3ASA11 | Long             | EC               | CORP              | GB        |     62261 | NS      | $1982422.26   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DQ6A9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5488 | PA      | $5300.91      | 0.00%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3618N5JF7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     24588 | PA      | $25319.47     | 0.00%             | 2055-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Incyte Corp                                 | Incyte Corp                                                                     | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      7983 | NS      | $675441.63    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                 | Workday Inc                                                                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      5025 | NS      | $1159870.50   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                       | Schneider Electric SE                                                           | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |       512 | NS      | $125791.47    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                         | Gilead Sciences Inc                                                             | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     15895 | NS      | $1795658.15   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KINDER MORGAN INC                           | Kinder Morgan Inc                                                               | CUSIP: 49456BBA8<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |    736000 | PA      | $714077.63    | 0.04%             | 2054-08-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE                    | Hudson Pacific Properties LP                                                    | CUSIP: 44409MAD8<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              | CORP              | US        |    126000 | PA      | $123259.69    | 0.01%             | 2028-02-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ECOLAB INC                                  | Ecolab Inc                                                                      | CUSIP: 278865BN9<br>LEI: 82DYEISM090VG8LTLS26 | Long             | DBT              | CORP              | US        |    760000 | PA      | $462992.44    | 0.03%             | 2051-12-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                     | Honeywell International Inc                                                     | CUSIP: 438516CU8<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | DBT              | CORP              | US        |    300000 | PA      | $279429.32    | 0.02%             | 2064-03-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ZOETIS INC                                  | Zoetis Inc                                                                      | CUSIP: 98978VAS2<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |   2820000 | PA      | $2555650.15   | 0.15%             | 2030-05-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                  | Viasat Inc                                                                      | CUSIP: 92552VAN0<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    192000 | PA      | $186674.73    | 0.01%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Toyota Motor Corp                           | Toyota Motor Corp                                                               | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |      2300 | NS      | $44533.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                       | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAA6<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    125000 | PA      | $130636.94    | 0.01%             | 2029-02-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| INSULET CORPORATION                         | Insulet Corp                                                                    | CUSIP: 45784PAL5<br>LEI: 549300TZTYD2PYN92D43 | Long             | DBT              | CORP              | US        |    185000 | PA      | $191798.57    | 0.01%             | 2033-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                    | Bank Central Asia Tbk PT                                                        | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |   2144200 | NS      | $1050464.93   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Cognizant Technology Solutions              | Cognizant Technology Solutions Corp                                             | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      7259 | NS      | $524462.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung C&T Corp                            | Samsung C&T Corp                                                                | CUSIP: 000000000<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |       980 | NS      | $117955.10    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                            | Paramount Global                                                                | CUSIP: 92556HAD9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |    160000 | PA      | $149249.58    | 0.01%             | 2032-05-19      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                    | Warnermedia Holdings Inc                                                        | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |     75000 | PA      | $64725.00     | 0.00%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| Mizuho Financial Group Inc                  | Mizuho Financial Group Inc                                                      | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |    255700 | NS      | $8411993.24   | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| NETAPP INC                                  | NetApp Inc                                                                      | CUSIP: 64110DAN4<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | DBT              | CORP              | US        |    648000 | PA      | $667893.24    | 0.04%             | 2035-03-17      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                           | Seagate Data Storage Technology Pte Ltd                                         | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     60000 | PA      | $60720.00     | 0.00%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| McKesson Corp                               | McKesson Corp                                                                   | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |        55 | NS      | $37765.20     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVARTIS CAPITAL CORP                       | Novartis Capital Corp                                                           | CUSIP: 66989HAR9<br>LEI: 5493002KF87V5RSRQS84 | Long             | DBT              | CORP              | US        |   3030000 | PA      | $2780340.82   | 0.16%             | 2030-08-14      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| SK Telecom Co Ltd                           | SK Telecom Co Ltd                                                               | CUSIP: 000000000<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |     22513 | NS      | $877687.18    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcadyan Technology Corp                    | Arcadyan Technology Corp                                                        | CUSIP: 000000000<br>LEI: 254900R5W61G3GO1Q067 | Long             | EC               | CORP              | TW        |     50000 | NS      | $385693.19    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797QV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    500000 | PA      | $498760.13    | 0.03%             | 2025-09-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Zhejiang NHU Co Ltd                         | Zhejiang NHU Co Ltd                                                             | CUSIP: 000000000<br>LEI: 655600NJSJADB39G3P54 | Long             | EC               | CORP              | CN        |    127700 | NS      | $446463.77    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Ericsson                                    | Telefonaktiebolaget LM Ericsson                                                 | CUSIP: 000000000<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |    349833 | NS      | $2769560.35   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                      | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3687353.44   | 0.22%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| NVR INC                                     | NVR Inc                                                                         | CUSIP: 62944TAF2<br>LEI: 529900RWXR4JI3JYTV70 | Long             | DBT              | CORP              | US        |   1930000 | PA      | $1822283.81   | 0.11%             | 2030-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132E0ZP0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     24083 | PA      | $25051.72     | 0.00%             | 2053-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                      | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    312000 | PA      | $315081.94    | 0.02%             | 2030-12-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Alfa Laval AB                               | Alfa Laval AB                                                                   | CUSIP: 000000000<br>LEI: 549300UCKT2UK88AG251 | Long             | EC               | CORP              | SE        |     13014 | NS      | $592472.63    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Commonwealth Bank of Australia              | Commonwealth Bank of Australia                                                  | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | EC               | CORP              | AU        |     38634 | NS      | $4294094.44   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XQT80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    244471 | PA      | $254469.88    | 0.01%             | 2054-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                            | Crown Castle Inc                                                                | CUSIP: 22822VAH4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              | CORP              | US        |    900000 | PA      | $888898.35    | 0.05%             | 2027-09-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179YHU1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     80721 | PA      | $83267.31     | 0.00%             | 2053-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CSL Ltd                                     | CSL Ltd                                                                         | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |      1944 | NS      | $270425.43    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F050692<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2250000 | PA      | $2218786.83   | 0.13%             | 2055-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENCORA INC                                 | Cencora Inc                                                                     | CUSIP: 03073EAT2<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   2050000 | PA      | $1878652.08   | 0.11%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                            | Coca-Cola Co/The                                                                | CUSIP: 191216DZ0<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    303000 | PA      | $286572.50    | 0.02%             | 2055-01-14      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                 | Oracle Corp                                                                     | CUSIP: 68389XDA0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   2060000 | PA      | $2099758.19   | 0.12%             | 2035-08-03      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132D6BX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    291525 | PA      | $273446.30    | 0.02%             | 2037-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                   | CUSIP: 829259BF6<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |    120000 | PA      | $85120.80     | 0.00%             | 2032-12-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WTZ1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    915215 | PA      | $810807.45    | 0.05%             | 2051-12-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| REA Group Ltd                               | REA Group Ltd                                                                   | CUSIP: 000000000<br>LEI: 894500KA4UBDATOFPN36 | Long             | EC               | CORP              | AU        |      7251 | NS      | $1187486.15   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UnitedHealth Group Inc                                                          | CUSIP: 91324PEW8<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $965450.27    | 0.06%             | 2053-04-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AECOM                                       | AECOM                                                                           | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     34288 | NS      | $4282228.32   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Energy Holdings Ltd                     | ENN Energy Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | CN        |     15200 | NS      | $123030.26    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicony Electronics Co Ltd                  | Chicony Electronics Co Ltd                                                      | CUSIP: 000000000<br>LEI: 254900JBP5GB5B1IHS51 | Long             | EC               | CORP              | TW        |     67000 | NS      | $301004.48    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                       | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    124000 | PA      | $128692.53    | 0.01%             | 2031-05-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                    | HLF Financing Sarl LLC / Herbalife International Inc                            | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     74000 | PA      | $64792.97     | 0.00%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Gerdau SA                                   | Gerdau SA                                                                       | CUSIP: 000000000<br>LEI: 254900YDV6SEQQPZVG24 | Long             | EP               | CORP              | BR        |     96697 | NS      | $299444.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aker BP ASA                                 | Aker BP ASA                                                                     | CUSIP: 000000000<br>LEI: 549300NFTY73920OYK69 | Long             | EC               | CORP              | NO        |     20861 | NS      | $527741.03    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                        | GrubHub Holdings Inc                                                            | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $96666.15     | 0.01%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENPRO INC                                   | Enpro Inc                                                                       | CUSIP: 29355XAH0<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35714.56     | 0.00%             | 2033-06-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                        | Targa Resources Corp                                                            | CUSIP: 87612GAD3<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    750000 | PA      | $766454.85    | 0.04%             | 2053-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Klepierre SA                                | Klepierre SA                                                                    | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               | CORP              | FR        |      2407 | NS      | $93986.04     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| RELIANCE INC                                | Reliance Inc                                                                    | CUSIP: 759509AG7<br>LEI: 549300E287ZOFT3C5Z56 | Long             | DBT              | CORP              | US        |     50000 | PA      | $44812.65     | 0.00%             | 2030-08-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1286533.59   | 0.08%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QTQB8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     87068 | PA      | $91995.27     | 0.01%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Nasdaq Inc                                  | Nasdaq Inc                                                                      | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |       227 | NS      | $21505.98     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                                  | Airbnb Inc                                                                      | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     23175 | NS      | $3025032.75   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TARGA RESOURCES CORP                        | Targa Resources Corp                                                            | CUSIP: 87612GAE1<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   2790000 | PA      | $2943542.43   | 0.17%             | 2029-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QSVP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     59343 | PA      | $61528.24     | 0.00%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GFL Environmental Inc                       | GFL Environmental Inc                                                           | CUSIP: 36168Q104<br>LEI: 549300FYK4MBXWIVZU26 | Long             | EC               | CORP              | CA        |      9715 | NS      | $485979.90    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS PLC                                | EUR/USD FORWARD                                                                 | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10648.38    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SOOP Co Ltd                                 | SOOP Co Ltd                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       782 | NS      | $43734.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Waste Management Inc                        | Waste Management Inc                                                            | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      5107 | NS      | $1156173.73   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                    | HLF Financing Sarl LLC / Herbalife International Inc                            | CUSIP: 40390DAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $157329.21    | 0.01%             | 2029-04-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Xero Ltd                                    | Xero Ltd                                                                        | CUSIP: 000000000<br>LEI: 254900UG5D8YST164N14 | Long             | EC               | CORP              | NZ        |     21291 | NS      | $2270323.08   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| XPeng Inc                                   | XPeng Inc                                                                       | CUSIP: 000000000<br>LEI: 549300TZNMIREMWQU857 | Long             | EC               | CORP              | CN        |     10400 | NS      | $109799.92    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3618N5GR4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    207904 | PA      | $214028.52    | 0.01%             | 2055-02-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H020691<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1450000 | PA      | $1187507.07   | 0.07%             | 2055-09-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| TINGYI                                      | Tingyi Cayman Islands Holding Corp                                              | CUSIP: 000000000<br>LEI: 5299009MPI9B60VN4P25 | Long             | EC               | CORP              | CN        |     66000 | NS      | $93792.48     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QTQC6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    893078 | PA      | $941752.37    | 0.06%             | 2053-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd                       | Mitsui Fudosan Co Ltd                                                           | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    271200 | NS      | $2867189.85   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Zurich Insurance Group AG                   | Zurich Insurance Group AG                                                       | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |       162 | NS      | $118382.40    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Post Bank Co Ltd                      | Japan Post Bank Co Ltd                                                          | CUSIP: 000000000<br>LEI: 5493006JVO6N2HC2XZ76 | Long             | EC               | CORP              | JP        |    214800 | NS      | $2700066.16   | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc                              | Amazon.com Inc                                                                  | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    116846 | NS      | $26757734.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179Y5M2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     61626 | PA      | $62957.73     | 0.00%             | 2054-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UnitedHealth Group Inc                      | UnitedHealth Group Inc                                                          | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |     14850 | NS      | $4601569.50   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| BAWAG Group AG                              | BAWAG Group AG                                                                  | CUSIP: 000000000<br>LEI: 529900S9YO2JHTIIDG38 | Long             | EC               | CORP              | AT        |      4507 | NS      | $582735.98    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1261060 | PA      | $1249611.24   | 0.07%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PROGRESSIVE CORP                            | Progressive Corp/The                                                            | CUSIP: 743315BB8<br>LEI: 529900TACNVLY9DCR586 | Long             | DBT              | CORP              | US        |   2060000 | PA      | $2102024.60   | 0.12%             | 2033-06-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                  | Viasat Inc                                                                      | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    293000 | PA      | $275048.86    | 0.02%             | 2031-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    141000 | PA      | $138843.09    | 0.01%             | 2026-07-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Republic Services Inc                       | Republic Services Inc                                                           | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       108 | NS      | $25268.76     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SINCLAIR TELEVISION GROU                    | Sinclair Television Group Inc                                                   | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76837.50     | 0.00%             | 2033-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| SoftBank Corp                               | SoftBank Corp                                                                   | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |    833800 | NS      | $1289789.57   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Verisk Analytics Inc                        | Verisk Analytics Inc                                                            | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |      4732 | NS      | $1268743.84   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179SQV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    534281 | PA      | $480021.05    | 0.03%             | 2046-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Koninklijke KPN NV                          | Koninklijke KPN NV                                                              | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |     67851 | NS      | $323795.76    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                 | Alnylam Pharmaceuticals Inc                                                     | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |       318 | NS      | $141990.18    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DSM-Firmenich AG                            | DSM-Firmenich AG                                                                | CUSIP: 000000000<br>LEI: 506700G44V67MPM4BI12 | Long             | EC               | CORP              | CH        |      4278 | NS      | $418584.88    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Pro Medicus Ltd                             | Pro Medicus Ltd                                                                 | CUSIP: 000000000<br>LEI: 98450085A903D1BMFF27 | Long             | EC               | CORP              | AU        |       730 | NS      | $141791.30    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| NN Group NV                                 | NN Group NV                                                                     | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |     17698 | NS      | $1218190.83   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179YHT4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    227836 | PA      | $233565.49    | 0.01%             | 2053-10-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                    | Windstream Services LLC / Windstream Escrow Finance Corp                        | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    145000 | PA      | $150825.67    | 0.01%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Simon Property Group Inc                    | Simon Property Group Inc                                                        | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     18843 | NS      | $3404176.38   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                           | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    119000 | PA      | $123173.33    | 0.01%             | 2033-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                            | MercadoLibre Inc                                                                | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       898 | NS      | $2220673.18   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                                 | Dropbox Inc                                                                     | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     21129 | NS      | $614008.74    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| King Yuan Electronics Co Ltd                | King Yuan Electronics Co Ltd                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    162000 | NS      | $819697.63    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| DoorDash Inc                                | DoorDash Inc                                                                    | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |      2211 | NS      | $542247.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H050698<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2225000 | PA      | $2202398.67   | 0.13%             | 2055-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DBS Group Holdings Ltd                      | DBS Group Holdings Ltd                                                          | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |    181100 | NS      | $7128618.23   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                           | Hyatt Hotels Corp                                                               | CUSIP: 448579AT9<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40975.36     | 0.00%             | 2031-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AMETEK Inc                                  | AMETEK Inc                                                                      | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     42273 | NS      | $7812050.40   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd                          | Trip.com Group Ltd                                                              | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | SG        |      2081 | NS      | $154050.94    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares MSCI India ETF                      | iShares MSCI India ETF                                                          | CUSIP: 46429B598<br>LEI: 549300282VMCFH7S5848 | Long             | EC               | RF                | US        |     82801 | NS      | $4303995.98   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVER Corp                                  | NAVER Corp                                                                      | CUSIP: 000000000<br>LEI: 988400ULUQYDB2HQYJ61 | Long             | EC               | CORP              | KR        |      4070 | NS      | $625655.96    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XMA22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     15998 | PA      | $15452.53     | 0.00%             | 2053-08-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                    | California Resources Corp                                                       | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |    344000 | PA      | $355412.54    | 0.02%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Loblaw Cos Ltd                              | Loblaw Cos Ltd                                                                  | CUSIP: 539481101<br>LEI: 5493008LN3O1DIDTSH67 | Long             | EC               | CORP              | CA        |      7548 | NS      | $308273.43    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| IEIT Systems Co Ltd                         | IEIT Systems Co Ltd                                                             | CUSIP: 000000000<br>LEI: 3003002K6ZLEBRGRI729 | Long             | EC               | CORP              | CN        |     84000 | NS      | $791875.42    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                          | Kohl's Corp                                                                     | CUSIP: 500255AY0<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    139000 | PA      | $149281.41    | 0.01%             | 2030-06-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Obayashi Corp                               | Obayashi Corp                                                                   | CUSIP: 000000000<br>LEI: 529900YT4O5S0LCXWD54 | Long             | EC               | CORP              | JP        |     75800 | NS      | $1229563.07   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Inc                               | Citigroup Inc                                                                   | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     35205 | NS      | $3399746.85   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| LS Corp                                     | LS Corp                                                                         | CUSIP: 000000000<br>LEI: 988400SQWZ34LADYL505 | Long             | EC               | CORP              | KR        |       612 | NS      | $77441.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BPER Banca SPA                              | BPER Banca SPA                                                                  | CUSIP: 000000000<br>LEI: N747OI7JINV7RUUH6190 | Long             | EC               | CORP              | IT        |     14194 | NS      | $147433.90    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797MH7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $15996235.52  | 0.94%             | 2025-09-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                               | Owens Corning                                                                   | CUSIP: 690742AF8<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |    350000 | PA      | $346906.57    | 0.02%             | 2026-08-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB d              | Grupo Financiero Banorte SAB de CV                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     20707 | NS      | $188614.59    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                           | RLJ Lodging Trust                                                               | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        17 | NS      | $130.90       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XNG7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    251040 | PA      | $254969.70    | 0.01%             | 2052-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                              | 1261229 BC Ltd                                                                  | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    240000 | PA      | $249204.24    | 0.01%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                           | CBRE Services Inc                                                               | CUSIP: 12505BAH3<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1171997.69   | 0.07%             | 2029-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F060691<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    125000 | PA      | $127695.46    | 0.01%             | 2055-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                             | CUSIP: 025816DK2<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    160000 | PA      | $165285.60    | 0.01%             | 2034-07-28      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                         | Sherwin-Williams Co/The                                                         | CUSIP: 824348BW5<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1228896.72   | 0.07%             | 2035-08-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                      | Motorola Solutions Inc                                                          | CUSIP: 620076BW8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1305839.83   | 0.08%             | 2032-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| UNILEVER CAPITAL CORP                       | Unilever Capital Corp                                                           | CUSIP: 904764BQ9<br>LEI: MYF1DAS6G5WY7PRWCU78 | Long             | DBT              | CORP              | US        |   2140000 | PA      | $1867565.10   | 0.11%             | 2031-08-12      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Cigna Group/The                             | Cigna Group/The                                                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |      5460 | NS      | $1642750.20   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                 | CUSIP: 91327BAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73000 | PA      | $69525.24     | 0.00%             | 2029-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| KB Financial Group Inc                      | KB Financial Group Inc                                                          | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |      4247 | NS      | $331713.08    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ELDORADO GOLD CORP                          | Eldorado Gold Corp                                                              | CUSIP: 284902AF0<br>LEI: 5493004PWQ01YDD1IH62 | Long             | DBT              | CORP              | CA        |    123000 | PA      | $123461.25    | 0.01%             | 2029-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UnitedHealth Group Inc                                                          | CUSIP: 91324PES7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    200000 | PA      | $197632.82    | 0.01%             | 2053-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XGF38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3060339 | PA      | $2558972.41   | 0.15%             | 2051-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                 | Wayfair LLC                                                                     | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |    295000 | PA      | $304780.43    | 0.02%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| E.ON SE                                     | E.ON SE                                                                         | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |    137548 | NS      | $2452667.21   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                   | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    202000 | PA      | $186028.55    | 0.01%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Intesa Sanpaolo SpA                         | Intesa Sanpaolo SpA                                                             | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | EC               | CORP              | IT        |    654564 | NS      | $4120842.00   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| ServiceNow Inc                              | ServiceNow Inc                                                                  | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      6242 | NS      | $5726785.32   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                         | JPMorgan Chase & Co                                                             | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     27184 | NS      | $8193801.28   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Nanya Technology Corp                       | Nanya Technology Corp                                                           | CUSIP: 000000000<br>LEI: 254900STKVKJBRRO0835 | Long             | EC               | CORP              | TW        |     43000 | NS      | $65647.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GMQ9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    690000 | PA      | $706930.20    | 0.04%             | 2036-02-12      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DSMT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     38714 | PA      | $40312.22     | 0.00%             | 2054-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132E0H62<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     75102 | PA      | $75746.83     | 0.00%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                    | Snap Inc                                                                        | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    120000 | PA      | $121247.28    | 0.01%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CBRE SERVICES INC                           | CBRE Services Inc                                                               | CUSIP: 12505BAG5<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |   1830000 | PA      | $1943560.34   | 0.11%             | 2034-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                           | Post Holdings Inc                                                               | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |     93000 | PA      | $93550.84     | 0.01%             | 2034-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                              | NRG Energy Inc                                                                  | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71767.29     | 0.00%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    205000 | PA      | $191055.89    | 0.01%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H062693<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    750000 | PA      | $771664.31    | 0.05%             | 2055-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMNEAL PHARMACEUTICALS L                    | Amneal Pharmaceuticals LLC                                                      | CUSIP: 03168LAA3<br>LEI: 54930037VIXE7LRZ1M66 | Long             | DBT              | CORP              | US        |     55000 | PA      | $56590.34     | 0.00%             | 2032-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                     | JetBlue Airways Corp / JetBlue Loyalty LP                                       | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    195000 | PA      | $193770.35    | 0.01%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Innovent Biologics Inc                      | Innovent Biologics Inc                                                          | CUSIP: 000000000<br>LEI: 25490058ONL9SCIE1R22 | Long             | EC               | CORP              | CN        |     52000 | NS      | $649893.78    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                      | Motorola Solutions Inc                                                          | CUSIP: 620076BZ1<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |    720000 | PA      | $739439.68    | 0.04%             | 2034-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SGS SA                                      | SGS SA                                                                          | CUSIP: 000000000<br>LEI: 2138007JNS19JHNA2336 | Long             | EC               | CORP              | CH        |       299 | NS      | $30501.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                      | Cogent Communications Group LLC / Cogent Finance Inc                            | CUSIP: 19240CAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    301000 | PA      | $299891.30    | 0.02%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XGGU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3003587 | PA      | $2519626.68   | 0.15%             | 2051-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| International Consolidated Air              | International Consolidated Airlines Group SA                                    | CUSIP: 000000000<br>LEI: 959800TZHQRUSH1ESL13 | Long             | EC               | CORP              | GB        |    197975 | NS      | $1024020.65   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                          | Howard Hughes Corp/The                                                          | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149867.82    | 0.01%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                      | PNC Financial Services Group Inc/The                                            | CUSIP: 693475CE3<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |    285000 | PA      | $289620.52    | 0.02%             | 2036-07-21      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DWG98<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    393983 | PA      | $397794.32    | 0.02%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                               | Rio Tinto PLC                                                                   | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      1888 | NS      | $118022.41    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| General Dynamics Corp                       | General Dynamics Corp                                                           | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |      2956 | NS      | $959428.92    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH                | Huntington Bancshares Inc/OH                                                    | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     17424 | NS      | $310321.44    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                 | Coupang Inc                                                                     | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |     24618 | NS      | $703582.44    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Var Energi ASA                              | Var Energi ASA                                                                  | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | EC               | CORP              | NO        |    253801 | NS      | $869344.91    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO  | BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO                                      | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |  90679679 | NS      | $90679678.73  | 5.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SNAP INC                                    | Snap Inc                                                                        | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |     55000 | PA      | $55143.71     | 0.00%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132D6BR0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    711398 | PA      | $652441.73    | 0.04%             | 2037-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133KQXU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    252485 | PA      | $250140.55    | 0.01%             | 2053-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GKJ7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1123746.98   | 0.07%             | 2028-02-04      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XHX36<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    167969 | PA      | $150207.35    | 0.01%             | 2037-08-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | MSCI EAFE                                                                       | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               | CORP              | US        |       -56 | NC      | $-112355.97   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEH4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1355000 | PA      | $1202348.67   | 0.07%             | 2032-10-20      | Fixed         | 2.51%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810SY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $11594375.04  | 0.68%             | 2041-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Link REIT                                   | Link REIT                                                                       | CUSIP: 000000000<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               | CORP              | HK        |     16300 | NS      | $87061.10     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL                            | Bank of Montreal                                                                | CUSIP: 06368LGV2<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | DBT              | CORP              | CA        |   1180000 | PA      | $1210962.08   | 0.07%             | 2028-02-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YEK7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    950000 | PA      | $927320.34    | 0.05%             | 2028-01-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| South32 Ltd                                 | South32 Ltd                                                                     | CUSIP: 000000000<br>LEI: 213800LAZNPXSBKVHR17 | Long             | EC               | CORP              | AU        |   1212140 | NS      | $2140281.41   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Lockheed Martin Corp                        | Lockheed Martin Corp                                                            | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       582 | NS      | $265176.66    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Wartsila OYJ Abp                            | Wartsila OYJ Abp                                                                | CUSIP: 000000000<br>LEI: 743700G7A9J1PHM3X223 | Long             | EC               | CORP              | FI        |     45284 | NS      | $1327401.54   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Koninklijke Ahold Delhaize NV               | Koninklijke Ahold Delhaize NV                                                   | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |     12254 | NS      | $491052.55    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITEDHEALTH GROUP INC                      | UnitedHealth Group Inc                                                          | CUSIP: 91324PEV0<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |    640000 | PA      | $627319.58    | 0.04%             | 2033-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                      | CUSIP: 14040HCY9<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    700000 | PA      | $728644.92    | 0.04%             | 2034-02-01      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Deutsche Telekom AG                         | Deutsche Telekom AG                                                             | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |    218825 | NS      | $8007904.89   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Geely Automobile Holdings Ltd               | Geely Automobile Holdings Ltd                                                   | CUSIP: 000000000<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | EC               | CORP              | HK        |    501000 | NS      | $1263693.98   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| CENCORA INC                                 | Cencora Inc                                                                     | CUSIP: 03073EAQ8<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   1280000 | PA      | $1036604.67   | 0.06%             | 2047-12-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Huatai Securities Co Ltd                    | Huatai Securities Co Ltd                                                        | CUSIP: 000000000<br>LEI: 3003009ABT0UCWO79Q77 | Long             | EC               | CORP              | CN        |   1331700 | NS      | $4055200.03   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| NORDSTROM INC                               | Nordstrom Inc                                                                   | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    162000 | PA      | $110084.61    | 0.01%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CUMMINS INC                                 | Cummins Inc                                                                     | CUSIP: 231021AV8<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | DBT              | CORP              | US        |    570000 | PA      | $585792.76    | 0.03%             | 2029-02-20      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Paylocity Holding Corp                      | Paylocity Holding Corp                                                          | CUSIP: 70438V106<br>LEI: 549300VH75FTB4DIEE07 | Long             | EC               | CORP              | US        |       168 | NS      | $30110.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Computer Inc                         | Quanta Computer Inc                                                             | CUSIP: 000000000<br>LEI: 529900DE8BIV3XOXIK04 | Long             | EC               | CORP              | TW        |      3000 | NS      | $25546.20     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pagseguro Digital Ltd                       | Pagseguro Digital Ltd                                                           | CUSIP: 000000000<br>LEI: 391200VY4YW47I4HGH62 | Long             | EC               | CORP              | BR        |      3991 | NS      | $35759.36     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PULTEGROUP INC                              | PulteGroup Inc                                                                  | CUSIP: 745867AP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $968470.53    | 0.06%             | 2033-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DNSM6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    384248 | PA      | $359577.36    | 0.02%             | 2052-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                       | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    125000 | PA      | $131488.25    | 0.01%             | 2031-05-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| BorgWarner Inc                              | BorgWarner Inc                                                                  | CUSIP: 099724106<br>LEI: 549300DSFX2IE88NSX47 | Long             | EC               | CORP              | US        |    179696 | NS      | $7683800.96   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                         | Cardinal Health Inc                                                             | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      4845 | NS      | $720839.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                      | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     86000 | PA      | $88969.75     | 0.01%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810TD0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  30000000 | PA      | $17933203.20  | 1.05%             | 2052-02-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Grupo Cibest SA                             | Grupo Cibest SA                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CO        |      6422 | NS      | $94637.48     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLOVIN CORP                               | AppLovin Corp                                                                   | CUSIP: 03831WAD0<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |    890000 | PA      | $908428.92    | 0.05%             | 2034-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mitsui & Co Ltd                             | Mitsui & Co Ltd                                                                 | CUSIP: 000000000<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |      1600 | NS      | $36834.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Spotify Technology SA                       | Spotify Technology SA                                                           | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |       949 | NS      | $647104.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RALPH LAUREN CORP                           | Ralph Lauren Corp                                                               | CUSIP: 751212AD3<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020584.01   | 0.06%             | 2032-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                    | Connect Finco SARL / Connect US Finco LLC                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    200000 | PA      | $208365.80    | 0.01%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| UBS AG STAMFORD CT                          | UBS AG/Stamford CT                                                              | CUSIP: 22550L2G5<br>LEI: 254900R882POXXVAK772 | Long             | DBT              | CORP              | CH        |    430000 | PA      | $418664.12    | 0.02%             | 2026-08-07      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| EW SCRIPPS CO                               | EW Scripps Co/The                                                               | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |     85000 | PA      | $79903.23     | 0.00%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| JD.com Inc                                  | JD.com Inc                                                                      | CUSIP: 000000000<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | CN        |     65300 | NS      | $1011833.86   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                             | Nissan Motor Co Ltd                                                             | CUSIP: 654922AB9<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    305000 | PA      | $318661.87    | 0.02%             | 2030-07-17      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                    | MPH Acquisition Holdings LLC                                                    | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     56300 | PA      | $57285.25     | 0.00%             | 2030-12-31      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| BRINKER INTERNATIONAL IN                    | Brinker International Inc                                                       | CUSIP: 109641AK6<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |     38000 | PA      | $40406.50     | 0.00%             | 2030-07-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| KPJ Healthcare Bhd                          | KPJ Healthcare Bhd                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    390900 | NS      | $240403.22    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36180AB93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    243666 | PA      | $241419.75    | 0.01%             | 2054-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bureau Veritas SA                           | Bureau Veritas SA                                                               | CUSIP: 000000000<br>LEI: 969500TPU5T3HA5D1F11 | Long             | EC               | CORP              | FR        |      5869 | NS      | $177047.70    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| VIRIDIEN                                    | Viridien                                                                        | CUSIP: 12531QAA3<br>LEI: 969500FCVQ5SLAAUJV59 | Long             | DBT              | CORP              | FR        |    100000 | PA      | $99933.01     | 0.01%             | 2030-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Tokyo Electron Ltd                          | Tokyo Electron Ltd                                                              | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |     16600 | NS      | $2260690.85   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F052698<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   3875000 | PA      | $3896815.24   | 0.23%             | 2055-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Philip Morris International In              | Philip Morris International Inc                                                 | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     10972 | NS      | $1833750.36   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132CXGA4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    406401 | PA      | $388517.53    | 0.02%             | 2038-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                            | Duke Energy Corp                                                                | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     17107 | NS      | $2095436.43   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                    | MPH Acquisition Holdings LLC                                                    | CUSIP: 553283AE2<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    133469 | PA      | $107242.14    | 0.01%             | 2031-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PBU9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    505000 | PA      | $443580.90    | 0.03%             | 2031-11-19      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                      | Acrisure LLC / Acrisure Finance Inc                                             | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $46170.23     | 0.00%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                  | goeasy Ltd                                                                      | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    121000 | PA      | $127337.98    | 0.01%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| WOLVERINE WORLD WIDE                        | Wolverine World Wide Inc                                                        | CUSIP: 978097AG8<br>LEI: 549300OVC7PK14LQ8D87 | Long             | DBT              | CORP              | US        |    199000 | PA      | $183005.26    | 0.01%             | 2029-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810TF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $7238281.20   | 0.42%             | 2042-02-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QLNM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4830159 | PA      | $3864297.97   | 0.23%             | 2051-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                      | CUSIP: 14040HCT0<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    340000 | PA      | $345810.99    | 0.02%             | 2033-05-10      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| MakeMyTrip Ltd                              | MakeMyTrip Ltd                                                                  | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | IN        |     21969 | NS      | $2169438.75   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                           | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95645.23     | 0.01%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Hugel Inc                                   | Hugel Inc                                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1645 | NS      | $371918.14    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| 3M COMPANY                                  | 3M Co                                                                           | CUSIP: 88579YBJ9<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1245757.43   | 0.07%             | 2029-08-26      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Zai Lab Ltd                                 | Zai Lab Ltd                                                                     | CUSIP: 000000000<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | CN        |     50800 | NS      | $169095.13    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HERTZ CORP/THE                              | Hertz Corp/The                                                                  | CUSIP: 428040DC0<br>LEI: 549300PD0C69OJ0NLB27 | Long             | DBT              | CORP              | US        |     53000 | PA      | $55077.81     | 0.00%             | 2029-07-15      | Fixed         | 12.62%                | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GJT7<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1088623.36   | 0.06%             | 2032-04-22      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| MCKESSON CORP                               | McKesson Corp                                                                   | CUSIP: 581557BU8<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |   2750000 | PA      | $2817997.49   | 0.16%             | 2033-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                               | CommScope LLC                                                                   | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |     97000 | PA      | $98163.61     | 0.01%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                    | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     86000 | PA      | $91373.37     | 0.01%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OWENS CORNING                               | Owens Corning                                                                   | CUSIP: 690742AG6<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1160329.36   | 0.07%             | 2047-07-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| ICON INVESTMENTS SIX DAC                    | Icon Investments Six DAC                                                        | CUSIP: 45115AAC8<br>LEI: 635400FQ1M7J2CHLAS59 | Long             | DBT              | CORP              | IE        |   2380000 | PA      | $2474013.40   | 0.14%             | 2034-05-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                           | Ares Capital Corp                                                               | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    680000 | PA      | $649041.74    | 0.04%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MPI Corp                                    | MPI Corp                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      1000 | NS      | $44954.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Minerva SA/Brazil                           | Minerva SA/Brazil                                                               | CUSIP: 000000000<br>LEI: 391200UHL6YHY0OA1P30 | Long             | EC               | CORP              | BR        |     62990 | NS      | $69823.01     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVA CHEMICALS CORP                         | NOVA Chemicals Corp                                                             | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |     28000 | PA      | $30075.50     | 0.00%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ABB Ltd                                     | ABB Ltd                                                                         | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |    127560 | NS      | $8560694.84   | 0.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Worley Ltd                                  | Worley Ltd                                                                      | CUSIP: 000000000<br>LEI: 549300XDR86FY8OLGP97 | Long             | EC               | CORP              | AU        |    125666 | NS      | $1204244.87   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortinet Inc                                | Fortinet Inc                                                                    | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |      1529 | NS      | $120439.33    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcopolo SA                                | Marcopolo SA                                                                    | CUSIP: 000000000<br>LEI: 254900XL58LF2D2QUX37 | Long             | EP               | CORP              | BR        |    345125 | NS      | $587530.78    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| QUANTA SERVICES INC                         | Quanta Services Inc                                                             | CUSIP: 74762EAF9<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |   4150000 | PA      | $3867659.73   | 0.23%             | 2030-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CAM3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  35630000 | PA      | $35519349.97  | 2.08%             | 2025-09-30      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XHKM8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1677272 | PA      | $1266338.16   | 0.07%             | 2052-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                    | MPH Acquisition Holdings LLC                                                    | CUSIP: 553283AG7<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    165000 | PA      | $144323.85    | 0.01%             | 2030-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QQFP5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    149889 | PA      | $146044.26    | 0.01%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3622ACP46<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    458742 | PA      | $399966.40    | 0.02%             | 2052-03-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DWJL8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    770958 | PA      | $776689.85    | 0.05%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                      | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956PBA9<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |     40000 | PA      | $40284.33     | 0.00%             | 2027-02-19      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                | Novelis Corp                                                                    | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |     80000 | PA      | $83009.04     | 0.00%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                       | Level 3 Financing Inc                                                           | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    275000 | PA      | $277468.13    | 0.02%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                  | goeasy Ltd                                                                      | CUSIP: 380355AJ6<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |    120000 | PA      | $124268.40    | 0.01%             | 2029-07-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                    | Summit Midstream Holdings LLC                                                   | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $85758.48     | 0.01%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Edison International                        | Edison International                                                            | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |     27896 | NS      | $1565802.48   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Group Inc                  | Daiwa Securities Group Inc                                                      | CUSIP: 000000000<br>LEI: 353800WRC7Y23PWFJG38 | Long             | EC               | CORP              | JP        |    125900 | NS      | $976022.81    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Murata Manufacturing Co Ltd                 | Murata Manufacturing Co Ltd                                                     | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |     96300 | NS      | $1554624.98   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    469000 | PA      | $423274.81    | 0.02%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp                        | Bank of America Corp                                                            | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    236530 | NS      | $12001532.20  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                      | Cloud Software Group Inc                                                        | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    138000 | PA      | $139517.59    | 0.01%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                       | Mexico Government International Bond                                            | CUSIP: 91087BAN0<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    870000 | PA      | $521182.20    | 0.03%             | 2061-05-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                           | Ares Capital Corp                                                               | CUSIP: 04010LBD4<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    520000 | PA      | $506742.23    | 0.03%             | 2027-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YFG5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2585000 | PA      | $2668840.03   | 0.16%             | 2034-07-21      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| GSK PLC                                     | GSK PLC                                                                         | CUSIP: 000000000<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     61477 | NS      | $1214791.92   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co Ltd                     | Recruit Holdings Co Ltd                                                         | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     66600 | NS      | $3811073.66   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XBR6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1510378 | PA      | $1338073.82   | 0.08%             | 2052-07-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PBP0<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2595000 | PA      | $2422560.30   | 0.14%             | 2031-05-13      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| Natera Inc                                  | Natera Inc                                                                      | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4585 | NS      | $771426.25    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Curtiss-Wright Corp                         | Curtiss-Wright Corp                                                             | CUSIP: 231561101<br>LEI: TEL51ETZWP7D0ZM4X325 | Long             | EC               | CORP              | US        |      4876 | NS      | $2331459.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                    | Fox Corp                                                                        | CUSIP: 35137L204<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |     13785 | NS      | $751971.75    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PHINIA INC                                  | Phinia Inc                                                                      | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |     61000 | PA      | $62648.71     | 0.00%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AECOM                                       | AECOM                                                                           | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |    160000 | PA      | $163304.80    | 0.01%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| IVANHOE MINES LTD                           | Ivanhoe Mines Ltd                                                               | CUSIP: 46579RAE4<br>LEI: 5299006XZISURYIA4G32 | Long             | DBT              | CORP              | CA        |    179000 | PA      | $180802.53    | 0.01%             | 2030-01-23      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ELECTRONIC ARTS INC                         | Electronic Arts Inc                                                             | CUSIP: 285512AE9<br>LEI: 549300O7A67PUEYKDL45 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $878803.17    | 0.05%             | 2031-02-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| RIO TINTO FIN USA PLC                       | Rio Tinto Finance USA PLC                                                       | CUSIP: 76720AAU0<br>LEI: 2138006TSNBEUA761G16 | Long             | DBT              | CORP              | GB        |    715000 | PA      | $728394.05    | 0.04%             | 2035-03-14      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GARRETT MOTION HLD/SARL                     | Garrett Motion Holdings Inc / Garrett LX I Sarl                                 | CUSIP: 366504AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $209132.20    | 0.01%             | 2032-05-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                          | TOPIX INDX                                                                      | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               | CORP              | JP        |       162 | NC      | $2737747.05   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS MINERALS INTERNA                    | Compass Minerals International Inc                                              | CUSIP: 20451NAJ0<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    189000 | PA      | $197691.17    | 0.01%             | 2030-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Bestechnic Shanghai Co Ltd                  | Bestechnic Shanghai Co Ltd                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     21444 | NS      | $851749.34    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| JB Hi-Fi Ltd                                | JB Hi-Fi Ltd                                                                    | CUSIP: 000000000<br>LEI: 529900TPC8H040Y3ZQ65 | Long             | EC               | CORP              | AU        |      5951 | NS      | $455072.82    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Korea Electric Power Corp                   | Korea Electric Power Corp                                                       | CUSIP: 000000000<br>LEI: 988400QG33WS7JEIV602 | Long             | EC               | CORP              | KR        |      2484 | NS      | $65130.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                         | Fifth Third Bancorp                                                             | CUSIP: 316773DK3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |     90000 | PA      | $94997.05     | 0.01%             | 2029-07-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142GRLU2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    249896 | PA      | $261595.91    | 0.02%             | 2054-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                      | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77732.10     | 0.00%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Suncor Energy Inc                           | Suncor Energy Inc                                                               | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |     65805 | NS      | $2720173.19   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CARVANA CO                                  | Carvana Co                                                                      | CUSIP: 146869AL6<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    205263 | PA      | $209936.84    | 0.01%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Vertex Pharmaceuticals Inc                  | Vertex Pharmaceuticals Inc                                                      | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      1617 | NS      | $632279.34    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| COCA-COLA CO/THE                            | Coca-Cola Co/The                                                                | CUSIP: 191216DC1<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |    770000 | PA      | $455864.72    | 0.03%             | 2051-03-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418DQA3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     37798 | PA      | $33139.54     | 0.00%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| ORIX Corp                                   | ORIX Corp                                                                       | CUSIP: 000000000<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |     86500 | NS      | $2234122.23   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PDR4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    872000 | PA      | $900250.59    | 0.05%             | 2034-06-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| AMER SPORTS COMPANY                         | Amer Sports Co                                                                  | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |    175000 | PA      | $182591.50    | 0.01%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418EBD1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    101320 | PA      | $90544.68     | 0.01%             | 2037-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Lowe's Cos Inc                              | Lowe's Cos Inc                                                                  | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      2852 | NS      | $735987.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                              | Morgan Stanley                                                                  | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1245000 | PA      | $1271039.31   | 0.07%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC                     | CRH America Finance Inc                                                         | CUSIP: 12636YAF9<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1083200.45   | 0.06%             | 2035-01-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BeOne Medicines Ltd                         | BeOne Medicines Ltd                                                             | CUSIP: 000000000<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | US        |      6600 | NS      | $157007.33    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                     | Light & Wonder International Inc                                                | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    176000 | PA      | $183720.77    | 0.01%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MISUMI Group Inc                            | MISUMI Group Inc                                                                | CUSIP: 000000000<br>LEI: 353800SJWGE5BEK2V032 | Long             | EC               | CORP              | JP        |     13700 | NS      | $207780.46    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| COREWEAVE INC                               | CoreWeave Inc                                                                   | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    453000 | PA      | $454624.01    | 0.03%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| OCEANEERING INTL INC                        | Oceaneering International Inc                                                   | CUSIP: 675232AD4<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |     14000 | PA      | $14144.98     | 0.00%             | 2028-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Primax Electronics Ltd                      | Primax Electronics Ltd                                                          | CUSIP: 000000000<br>LEI: 254900JO4CQFFG7AIQ15 | Long             | EC               | CORP              | TW        |    164000 | NS      | $443494.76    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| DYE & DURHAM LIMITED                        | Dye & Durham Ltd                                                                | CUSIP: 267486AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    100000 | PA      | $104513.70    | 0.01%             | 2029-04-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                  | Carvana Co                                                                      | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    451468 | PA      | $512230.66    | 0.03%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                     | Bristol-Myers Squibb Co                                                         | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     83936 | NS      | $3960100.48   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV                           | Wolters Kluwer NV                                                               | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |       297 | NS      | $37414.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EXELON CORP                                 | Exelon Corp                                                                     | CUSIP: 30161NBN0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    270000 | PA      | $278281.70    | 0.02%             | 2034-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Guangdong Investment Ltd                    | Guangdong Investment Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |     32000 | NS      | $30098.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| KROGER CO                                   | Kroger Co/The                                                                   | CUSIP: 501044DV0<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | DBT              | CORP              | US        |    365000 | PA      | $363789.11    | 0.02%             | 2034-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVANGRID INC                                | Avangrid Inc                                                                    | CUSIP: 05351WAB9<br>LEI: 549300OX0Q38NLSKPB49 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491492.12    | 0.03%             | 2029-06-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| INTUIT INC                                  | Intuit Inc                                                                      | CUSIP: 46124HAH9<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | DBT              | CORP              | US        |     95000 | PA      | $93182.60     | 0.01%             | 2053-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                  | Carvana Co                                                                      | CUSIP: 146869AN2<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    238780 | PA      | $249774.39    | 0.01%             | 2030-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                  | goeasy Ltd                                                                      | CUSIP: 380355AN7<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |     95000 | PA      | $97879.55     | 0.01%             | 2030-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sonic Healthcare Ltd                        | Sonic Healthcare Ltd                                                            | CUSIP: 000000000<br>LEI: 549300NQQ5L2NONWR862 | Long             | EC               | CORP              | AU        |     31037 | NS      | $487513.26    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                    | Cheniere Corpus Christi Holdings LLC                                            | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    670000 | PA      | $650854.99    | 0.04%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WXJ2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1539941 | PA      | $1313253.22   | 0.08%             | 2052-02-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                    | Western Midstream Operating LP                                                  | CUSIP: 958667AF4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36812.34     | 0.00%             | 2029-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GHZ5<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138546.39    | 0.01%             | 2031-02-13      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Informa PLC                                 | Informa PLC                                                                     | CUSIP: 000000000<br>LEI: 5493006VM2LKUPSEDU20 | Long             | EC               | CORP              | GB        |    243830 | NS      | $2872194.37   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XGPU7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   9793888 | PA      | $7823491.52   | 0.46%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PBL9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1848025.72   | 0.11%             | 2031-04-22      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3622ACNP1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    151055 | PA      | $153488.68    | 0.01%             | 2053-07-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae                                                                      | CUSIP: 21H032696<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    875000 | PA      | $796288.40    | 0.05%             | 2055-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CDY4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17000000 | PA      | $15062265.54  | 0.88%             | 2032-02-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                    | AT&T Inc                                                                        | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    111897 | NS      | $3277463.13   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404121AK1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    165000 | PA      | $167114.25    | 0.01%             | 2034-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Hartford Insurance Group Inc/T              | Hartford Insurance Group Inc/The                                                | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |     34680 | NS      | $4588510.80   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WP93<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    874448 | PA      | $716592.18    | 0.04%             | 2051-10-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| LAM RESEARCH CORP                           | Lam Research Corp                                                               | CUSIP: 512807AV0<br>LEI: 549300I4GMO6D34U1T02 | Long             | DBT              | CORP              | US        |   3810000 | PA      | $3440708.82   | 0.20%             | 2030-06-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                             | CVS Health Corp                                                                 | CUSIP: 126650EK2<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    600000 | PA      | $601346.71    | 0.04%             | 2035-09-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| IBM CORP                                    | International Business Machines Corp                                            | CUSIP: 459200KM2<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | DBT              | CORP              | US        |    750000 | PA      | $730699.59    | 0.04%             | 2027-02-09      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                | UBS Group AG                                                                    | CUSIP: 225401AU2<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    200000 | PA      | $184086.78    | 0.01%             | 2032-05-14      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| Hanwha Corp                                 | Hanwha Corp                                                                     | CUSIP: 000000000<br>LEI: 988400JE9FIHQS7TX614 | Long             | EC               | CORP              | KR        |       675 | NS      | $40500.31     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DTGZ7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    832901 | PA      | $855768.76    | 0.05%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                    | Capital One Financial Corp                                                      | CUSIP: 254709AT5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1989134.78   | 0.12%             | 2034-11-02      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                   | Alibaba Group Holding Ltd                                                       | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |    255700 | NS      | $4233796.10   | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| KCC Corp                                    | KCC Corp                                                                        | CUSIP: 000000000<br>LEI: 988400BF3M5UFPF3PH17 | Long             | EC               | CORP              | KR        |       855 | NS      | $243918.80    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Parade Technologies Ltd                     | Parade Technologies Ltd                                                         | CUSIP: 000000000<br>LEI: 529900D9FDQHQKAQLY02 | Long             | EC               | CORP              | US        |     24000 | NS      | $608328.72    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3133GGX57<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    140498 | PA      | $125553.02    | 0.01%             | 2037-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Safran SA                                   | Safran SA                                                                       | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     18360 | NS      | $6101551.77   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| PNC Financial Services Group I              | PNC Financial Services Group Inc/The                                            | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |     38830 | NS      | $8054895.20   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambev SA                                    | Ambev SA                                                                        | CUSIP: 000000000<br>LEI: 549300TH5Q6VRP8OT012 | Long             | EC               | CORP              | BR        |    522751 | NS      | $1190732.84   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ODEON FINCO PLC                             | Odeon Finco PLC                                                                 | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | GB        |    158000 | PA      | $163772.69    | 0.01%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                              | Home Depot Inc/The                                                              | CUSIP: 437076CD2<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |    940000 | PA      | $652837.16    | 0.04%             | 2050-04-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| RAIN CARBON INC                             | Rain Carbon Inc                                                                 | CUSIP: 75079LAB7<br>LEI: 25490038N6JQH7QXUK52 | Long             | DBT              | CORP              | US        |     93000 | PA      | $99845.73     | 0.01%             | 2029-09-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Visa Inc                                    | Visa Inc                                                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     16426 | NS      | $5778338.28   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| FOOT LOCKER INC                             | Foot Locker Inc                                                                 | CUSIP: 344849AA2<br>LEI: 549300X383CBNP6MTV94 | Long             | DBT              | CORP              | US        |     70000 | PA      | $67002.59     | 0.00%             | 2029-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Telefonica Brasil SA                        | Telefonica Brasil SA                                                            | CUSIP: 000000000<br>LEI: 529900MTGG2HSDBIWG79 | Long             | EC               | CORP              | BR        |     92929 | NS      | $579151.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                                 | PepsiCo Inc                                                                     | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     28826 | NS      | $4284984.90   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMONWEALTH EDISON CO                      | Commonwealth Edison Co                                                          | CUSIP: 202795JX9<br>LEI: D8YOXB8L2ZDC8P7Q0771 | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1611832.50   | 0.09%             | 2033-02-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                 | Walmart Inc                                                                     | CUSIP: 931142FP3<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   1490000 | PA      | $1513330.38   | 0.09%             | 2035-04-28      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                      | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    466000 | PA      | $482168.55    | 0.03%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                           | HSBC Holdings PLC                                                               | CUSIP: 404280EX3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4400000 | PA      | $4577784.60   | 0.27%             | 2036-05-13      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                 | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    261000 | PA      | $274632.03    | 0.02%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XBQ8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    223645 | PA      | $190723.00    | 0.01%             | 2052-07-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Kimco Realty Corp                           | Kimco Realty Corp                                                               | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     81799 | NS      | $1839659.51   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797PY7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1100000 | PA      | $1097022.86   | 0.06%             | 2025-09-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                    | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp              | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     22000 | PA      | $12760.00     | 0.00%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                            | Pitney Bowes Inc                                                                | CUSIP: 724479AP5<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |      7000 | PA      | $7021.22      | 0.00%             | 2027-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418FMK0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1399961 | PA      | $1430471.93   | 0.08%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Kinross Gold Corp                           | Kinross Gold Corp                                                               | CUSIP: 496902404<br>LEI: 254900O9KHF2A1ZXPT47 | Long             | EC               | CORP              | CA        |    141234 | NS      | $2952508.93   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                      | Motorola Solutions Inc                                                          | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     12121 | NS      | $5726687.66   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| WHIRLPOOL CORP                              | Whirlpool Corp                                                                  | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     60000 | PA      | $60666.96     | 0.00%             | 2030-06-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                              | Gray Media Inc                                                                  | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20102.25     | 0.00%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GREENFIRE RESOURCES LTD                     | Greenfire Resources Ltd                                                         | CUSIP: 39525UAA5<br>LEI: 254900MTS0G2VGMJW059 | Long             | DBT              | CORP              | CA        |     52000 | PA      | $54922.82     | 0.00%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                             | Cigna Group/The                                                                 | CUSIP: 125523CV0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    590000 | PA      | $601665.02    | 0.04%             | 2034-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                          | Meta Platforms Inc                                                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     17003 | NS      | $12560116.10  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |     75000 | PA      | $77421.45     | 0.00%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| United Therapeutics Corp                    | United Therapeutics Corp                                                        | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |       341 | NS      | $103923.16    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan Ocean Co Ltd                            | Pan Ocean Co Ltd                                                                | CUSIP: 000000000<br>LEI: 988400HGOJIHDWPIAT45 | Long             | EC               | CORP              | KR        |     13358 | NS      | $37362.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                               | United States Treasury Bill                                                     | CUSIP: 912797PX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1200000 | PA      | $1197730.67   | 0.07%             | 2025-09-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                      | Zimmer Biomet Holdings Inc                                                      | CUSIP: 98956PAX0<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |    140000 | PA      | $144977.35    | 0.01%             | 2028-12-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                    | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp              | CUSIP: 74052HAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    163000 | PA      | $94947.50     | 0.01%             | 2029-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                            | Pitney Bowes Inc                                                                | CUSIP: 724479AQ3<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |     69000 | PA      | $69333.06     | 0.00%             | 2029-03-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DSV74<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     78175 | PA      | $81243.08     | 0.00%             | 2054-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| S&P Global Inc                              | S&P Global Inc                                                                  | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     13351 | NS      | $7322222.44   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| RAKUTEN GROUP INC                           | Rakuten Group Inc                                                               | CUSIP: 75102WAK4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |    300000 | PA      | $333282.98    | 0.02%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                     | Charles Schwab Corp/The                                                         | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     78056 | NS      | $7480887.04   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| IHO VERWALTUNGS GMBH                        | IHO Verwaltungs GmbH                                                            | CUSIP: 44963BAG3<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |     25000 | PA      | $26101.95     | 0.00%             | 2032-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                | ING Groep NV                                                                    | CUSIP: 456837BB8<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   2300000 | PA      | $2291648.36   | 0.13%             | 2028-03-28      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                        | Royal Bank of Canada                                                            | CUSIP: 78016HZS2<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |   1460000 | PA      | $1508055.46   | 0.09%             | 2028-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                             | CVS Health Corp                                                                 | CUSIP: 126650EJ5<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    300000 | PA      | $301378.78    | 0.02%             | 2032-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARKEL GROUP INC                            | Markel Group Inc                                                                | CUSIP: 570535AY0<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |    368000 | PA      | $364933.70    | 0.02%             | 2054-05-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                        | Bank of America Corp                                                            | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    370000 | PA      | $355350.65    | 0.02%             | 2030-07-23      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                            | Carlisle Cos Inc                                                                | CUSIP: 142339AM2<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |    270000 | PA      | $270238.91    | 0.02%             | 2040-09-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| COLGATE-PALMOLIVE CO                        | Colgate-Palmolive Co                                                            | CUSIP: 194162AP8<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | DBT              | CORP              | US        |     50000 | PA      | $46707.79     | 0.00%             | 2032-08-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Wix.com Ltd                                 | Wix.com Ltd                                                                     | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      8854 | NS      | $1249122.32   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.             | CDS CDX.NA.HY.44.V1                                                             | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $682128.86    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179W2U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2170617 | PA      | $1851090.07   | 0.11%             | 2052-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SingTel                                     | Singapore Telecommunications Ltd                                                | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |    236700 | NS      | $795497.03    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| DAVITA INC                                  | DaVita Inc                                                                      | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    114000 | PA      | $109750.58    | 0.01%             | 2030-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                  | Fiserv Inc                                                                      | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      1194 | NS      | $164986.92    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HONDA MOTOR CO LTD                          | Honda Motor Co Ltd                                                              | CUSIP: 438127AB8<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | DBT              | CORP              | JP        |   1000000 | PA      | $976556.62    | 0.06%             | 2027-03-10      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   4045000 | PA      | $3583045.02   | 0.21%             | 2032-07-21      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| MASTERCARD INC                              | Mastercard Inc                                                                  | CUSIP: 57636QAQ7<br>LEI: AR5L2ODV9HN37376R084 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $999125.20    | 0.06%             | 2050-03-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| E.Sun Financial Holding Co Ltd              | E.Sun Financial Holding Co Ltd                                                  | CUSIP: 000000000<br>LEI: 549300X6CNQE512OPC90 | Long             | EC               | CORP              | TW        |    157102 | NS      | $171460.55    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                       | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    590000 | PA      | $620773.01    | 0.04%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XFG6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   3174473 | PA      | $2986779.62   | 0.17%             | 2052-09-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tapestry Inc                                | Tapestry Inc                                                                    | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     15856 | NS      | $1614457.92   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FS KKR CAPITAL CORP                         | FS KKR Capital Corp                                                             | CUSIP: 302635AP2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    528000 | PA      | $524384.53    | 0.03%             | 2030-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ACS Actividades de Construccio              | ACS Actividades de Construccion y Servicios SA                                  | CUSIP: 000000000<br>LEI: 95980020140005558665 | Long             | EC               | CORP              | ES        |      7953 | NS      | $601141.10    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Garmin Ltd                                  | Garmin Ltd                                                                      | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |      3792 | NS      | $916981.44    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSIDENG                                    | Bosideng International Holdings Ltd                                             | CUSIP: 000000000<br>LEI: 254900G7F1RDM4B3S169 | Long             | EC               | CORP              | HK        |    412000 | NS      | $238456.33    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                        | IHO Verwaltungs GmbH                                                            | CUSIP: 44963BAF5<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |     33000 | PA      | $34313.60     | 0.00%             | 2030-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Sino Biopharmaceutical Ltd                  | Sino Biopharmaceutical Ltd                                                      | CUSIP: 000000000<br>LEI: 529900LPR4ADFEJAR786 | Long             | EC               | CORP              | HK        |    179000 | NS      | $187764.95    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                       | Bath & Body Works Inc                                                           | CUSIP: 501797AL8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    241000 | PA      | $251003.91    | 0.01%             | 2035-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| 3SBio Inc                                   | 3SBio Inc                                                                       | CUSIP: 000000000<br>LEI: 529900P0TQC1E9Y7FN31 | Long             | EC               | CORP              | CN        |    131500 | NS      | $494662.75    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                       | QXO Building Products Inc                                                       | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |    240000 | PA      | $247873.14    | 0.01%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Rational AG                                 | Rational AG                                                                     | CUSIP: 000000000<br>LEI: 529900K139N6UFJ1A758 | Long             | EC               | CORP              | DE        |        52 | NS      | $38761.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CU1<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    190000 | PA      | $203597.51    | 0.01%             | 2029-11-20      | Fixed         | 6.82%                 | No            |                  2 | On Loan: No      |
| Bank Mandiri Persero Tbk PT                 | Bank Mandiri Persero Tbk PT                                                     | CUSIP: 000000000<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |    294800 | NS      | $84490.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                             | AstraZeneca PLC                                                                 | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     17920 | NS      | $2856706.36   | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Huntington Ingalls Industries               | Huntington Ingalls Industries Inc                                               | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |        90 | NS      | $24371.10     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuehne + Nagel International A              | Kuehne + Nagel International AG                                                 | CUSIP: 000000000<br>LEI: 529900Q0YED3805QXQ66 | Long             | EC               | CORP              | CH        |      4135 | NS      | $842976.60    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ENEOS Holdings Inc                          | ENEOS Holdings Inc                                                              | CUSIP: 000000000<br>LEI: 3538001KQ5SAOZSQTT44 | Long             | EC               | CORP              | JP        |    546100 | NS      | $3233674.11   | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                               | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    140000 | PA      | $139848.23    | 0.01%             | 2027-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Allos SA                                    | Allos SA                                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     92530 | NS      | $409757.79    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XDD5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    622583 | PA      | $586152.10    | 0.03%             | 2052-08-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179X5F9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    933290 | PA      | $902636.89    | 0.05%             | 2053-06-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PING AN                                     | Ping An Insurance Group Co of China Ltd                                         | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |    107500 | NS      | $782669.47    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens Energy AG                           | Siemens Energy AG                                                               | CUSIP: 000000000<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |     45929 | NS      | $4885897.91   | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GXG4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1140926.79   | 0.07%             | 2030-02-07      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| ARROW ELECTRONICS INC                       | Arrow Electronics Inc                                                           | CUSIP: 04273WAE1<br>LEI: 549300YNNLBXT8N8R512 | Long             | DBT              | CORP              | US        |    770000 | PA      | $798510.37    | 0.05%             | 2034-04-10      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Hyundai Rotem Co Ltd                        | Hyundai Rotem Co Ltd                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2132 | NS      | $294105.93    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                             | Nissan Motor Co Ltd                                                             | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |     70000 | PA      | $74165.40     | 0.00%             | 2035-07-17      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                    | SLM Corp                                                                        | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $104667.30    | 0.01%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179UPB2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    150598 | PA      | $147957.01    | 0.01%             | 2049-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DV6K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     31467 | PA      | $27375.28     | 0.00%             | 2050-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WXL7<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    914273 | PA      | $835729.89    | 0.05%             | 2052-02-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HTA GROUP LTD                               | HTA Group Ltd/Mauritius                                                         | CUSIP: 40435WAC4<br>LEI: 213800WEFU8O8X6EPU13 | Long             | DBT              | CORP              | MU        |    200000 | PA      | $207000.00    | 0.01%             | 2029-06-04      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FUNDING LLC                      | NXP BV / NXP Funding LLC                                                        | CUSIP: 62947QBC1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    850000 | PA      | $880302.50    | 0.05%             | 2028-12-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                               | CommScope LLC                                                                   | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    147000 | PA      | $152026.22    | 0.01%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| British Land Co PLC/The                     | British Land Co PLC/The                                                         | CUSIP: 000000000<br>LEI: RV5B68J2GV3QGMRPW209 | Long             | EC               | CORP              | GB        |     11827 | NS      | $53702.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Marvell Technology Inc                      | Marvell Technology Inc                                                          | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9315 | NS      | $585587.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC                                | Assurant Inc                                                                    | CUSIP: 04621XAQ1<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | DBT              | CORP              | US        |    265000 | PA      | $264826.32    | 0.02%             | 2036-02-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                         | American Express Co                                                             | CUSIP: 025816DZ9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    290000 | PA      | $298089.42    | 0.02%             | 2036-01-30      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| NEW FLYER HOLDINGS                          | New Flyer Holdings Inc                                                          | CUSIP: 64438WAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    238000 | PA      | $255301.65    | 0.01%             | 2030-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                     | Starwood Property Trust Inc                                                     | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    169000 | PA      | $177104.23    | 0.01%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3142J6A60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    860827 | PA      | $879587.89    | 0.05%             | 2055-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ameriprise Financial Inc                    | Ameriprise Financial Inc                                                        | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |      3396 | NS      | $1748294.76   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QVZC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    429233 | PA      | $424350.33    | 0.02%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                            | Coca-Cola Co/The                                                                | CUSIP: 191216DL1<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |   5180000 | PA      | $3423144.62   | 0.20%             | 2051-03-05      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CGI INC                                     | CGI Inc                                                                         | CUSIP: 12532HAF1<br>LEI: 549300WSRCZY73ZG3090 | Long             | DBT              | CORP              | CA        |   2370000 | PA      | $2083891.66   | 0.12%             | 2031-09-14      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| American Express Co                         | American Express Co                                                             | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     30124 | NS      | $9979478.72   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CSC HOLDINGS LLC                            | CSC Holdings LLC                                                                | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    110000 | PA      | $105788.20    | 0.01%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                       | CUSIP: 682680BJ1<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1630000 | PA      | $1693190.52   | 0.10%             | 2028-11-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                          | Ally Financial Inc                                                              | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    209000 | PA      | $207411.90    | 0.01%             | 2040-01-17      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XPSB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    250473 | PA      | $258246.17    | 0.02%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XFE1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    884965 | PA      | $784058.58    | 0.05%             | 2052-09-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                     | Public Service Electric and Gas Co                                              | CUSIP: 74456QCN4<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   2410000 | PA      | $2490667.81   | 0.15%             | 2033-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179XDA1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    882657 | PA      | $755332.64    | 0.04%             | 2052-08-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                      | Millicom International Cellular SA                                              | CUSIP: 600814AQ0<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |     63000 | PA      | $63334.69     | 0.00%             | 2029-03-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                  | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    105000 | PA      | $108961.13    | 0.01%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                           | Chord Energy Corp                                                               | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    110000 | PA      | $112817.76    | 0.01%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Hyundai Steel Co                            | Hyundai Steel Co                                                                | CUSIP: 000000000<br>LEI: 9884006EYA94IB2C3132 | Long             | EC               | CORP              | KR        |     16235 | NS      | $373105.12    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Gentera SAB de CV                           | Gentera SAB de CV                                                               | CUSIP: 000000000<br>LEI: 4469000001ECOWXFNE33 | Long             | EC               | CORP              | MX        |      9291 | NS      | $22778.87     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cia Energetica de Minas Gerais              | Cia Energetica de Minas Gerais                                                  | CUSIP: 000000000<br>LEI: 254900W703PXLDSEM056 | Long             | EP               | CORP              | BR        |     74512 | NS      | $152821.17    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                                | Assurant Inc                                                                    | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |      1363 | NS      | $293876.43    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38148YAA6<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    442000 | PA      | $388779.12    | 0.02%             | 2038-10-31      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| FirstRand Ltd                               | FirstRand Ltd                                                                   | CUSIP: 000000000<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |     18756 | NS      | $79057.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd               | ASE Technology Holding Co Ltd                                                   | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |    115000 | NS      | $558494.23    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QRXL2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    345422 | PA      | $348616.12    | 0.02%             | 2053-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Intuit Inc                                  | Intuit Inc                                                                      | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     13473 | NS      | $8986491.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                      | BP PLC                                                                          | CUSIP: 000000000<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |    101276 | NS      | $592426.60    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                | ams-OSRAM AG                                                                    | CUSIP: 03217CAB2<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    174000 | PA      | $188429.12    | 0.01%             | 2029-03-30      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| DIAGEO CAPITAL PLC                          | Diageo Capital PLC                                                              | CUSIP: 25243YBH1<br>LEI: 213800L23DJLALFC4O95 | Long             | DBT              | CORP              | GB        |   3930000 | PA      | $4119695.91   | 0.24%             | 2033-01-24      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119BT5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    850000 | PA      | $851487.58    | 0.05%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                           | Nexstar Media Inc                                                               | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |    253000 | PA      | $248348.42    | 0.01%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fukuoka Financial Group Inc                 | Fukuoka Financial Group Inc                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1400 | NS      | $41949.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DWLT8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    691099 | PA      | $695953.35    | 0.04%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Shimizu Corp                                | Shimizu Corp                                                                    | CUSIP: 000000000<br>LEI: 353800BRAE0QFP3ZLY22 | Long             | EC               | CORP              | JP        |     22600 | NS      | $303615.14    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                            | Welltower OP LLC                                                                | CUSIP: 95041AAF5<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1261546.44   | 0.07%             | 2030-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| FedEx Corp                                  | FedEx Corp                                                                      | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |     34598 | NS      | $7994559.86   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                              | Mastercard Inc                                                                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      9165 | NS      | $5455832.85   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MARVELL TECHNOLOGY INC                      | Marvell Technology Inc                                                          | CUSIP: 573874AQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $68821.39     | 0.00%             | 2033-09-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WORKDAY INC                                 | Workday Inc                                                                     | CUSIP: 98138HAJ0<br>LEI: 549300J0DYC0N31V7G13 | Long             | DBT              | CORP              | US        |   1820000 | PA      | $1725148.06   | 0.10%             | 2032-04-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                | Broadcom Inc                                                                    | CUSIP: 11135FBG5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |    460000 | PA      | $343514.90    | 0.02%             | 2051-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                             | Nissan Motor Co Ltd                                                             | CUSIP: 654922AC7<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |    175000 | PA      | $183316.35    | 0.01%             | 2032-07-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                              | Rocket Cos Inc                                                                  | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     95000 | PA      | $97750.25     | 0.01%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                | DNB Bank ASA                                                                    | CUSIP: 000000000<br>LEI: 549300GKFG0RYRRQ1414 | Long             | EC               | CORP              | NO        |      1987 | NS      | $52353.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                            | StoneX Group Inc                                                                | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    203000 | PA      | $214584.60    | 0.01%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ET59<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    273969 | PA      | $270958.19    | 0.02%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sea Ltd                                     | Sea Ltd                                                                         | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |      2517 | NS      | $469521.18    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EXELON CORP                                 | Exelon Corp                                                                     | CUSIP: 30161NBE0<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    350000 | PA      | $324943.08    | 0.02%             | 2032-03-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Lotes Co Ltd                                | Lotes Co Ltd                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      4000 | NS      | $188052.17    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CK3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1129000 | PA      | $1050016.84   | 0.06%             | 2032-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                           | Cisco Systems Inc                                                               | CUSIP: 17275RBU5<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |    325000 | PA      | $312549.16    | 0.02%             | 2054-02-26      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Astellas Pharma Inc                         | Astellas Pharma Inc                                                             | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |     40700 | NS      | $446791.45    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                              | Eli Lilly & Co                                                                  | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      4576 | NS      | $3352286.08   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| China Mengniu Dairy Co Ltd                  | China Mengniu Dairy Co Ltd                                                      | CUSIP: 000000000<br>LEI: 2549005Q343BSJ8RSS21 | Long             | EC               | CORP              | CN        |    245000 | NS      | $482356.71    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Valterra Platinum Ltd                       | Valterra Platinum Ltd                                                           | CUSIP: 000000000<br>LEI: 529900RORCZ0E5S5FX81 | Long             | EC               | CORP              | ZA        |         1 | NS      | $45.86        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RTX Corp                                    | RTX Corp                                                                        | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     20173 | NS      | $3199437.80   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418DYB2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   4768960 | PA      | $3817416.92   | 0.22%             | 2051-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Genmab A/S                                  | Genmab A/S                                                                      | CUSIP: 000000000<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |      2730 | NS      | $681378.63    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Makalot Industrial Co Ltd                   | Makalot Industrial Co Ltd                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     32640 | NS      | $285464.98    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 912810TU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9100000 | PA      | $8604476.61   | 0.50%             | 2043-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F012692<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1300000 | PA      | $980974.01    | 0.06%             | 2055-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Neurocrine Biosciences Inc                  | Neurocrine Biosciences Inc                                                      | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      3209 | NS      | $447976.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                    | EUR/JPY FORWARD                                                                 | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1336.72     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Travelers Cos Inc/The                       | Travelers Cos Inc/The                                                           | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |     16214 | NS      | $4402263.14   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                             | United States Treasury Note/Bond                                                | CUSIP: 91282CEB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  16000000 | PA      | $15096249.92  | 0.88%             | 2029-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F022493<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1675000 | PA      | $1571446.01   | 0.09%             | 2040-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| L3Harris Technologies Inc                   | L3Harris Technologies Inc                                                       | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |        72 | NS      | $19988.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI CG INC                                  | CPI CG Inc                                                                      | CUSIP: 12598FAC3<br>LEI: 254900H3R50WH1B1LB48 | Long             | DBT              | CORP              | US        |    118000 | PA      | $123516.50    | 0.01%             | 2029-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Keyence Corp                                | Keyence Corp                                                                    | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |      1800 | NS      | $686238.01    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software               | Take-Two Interactive Software Inc                                               | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      3278 | NS      | $764659.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CK1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    221000 | PA      | $218764.37    | 0.01%             | 2029-11-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CY3<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    621000 | PA      | $625555.00    | 0.04%             | 2035-09-11      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Veeva Systems Inc                           | Veeva Systems Inc                                                               | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      3545 | NS      | $954314.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                             | Sony Group Corp                                                                 | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    217200 | NS      | $5936323.96   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Amada Co Ltd                                | Amada Co Ltd                                                                    | CUSIP: 000000000<br>LEI: 529900QF5O6TQGCPDX85 | Long             | EC               | CORP              | JP        |    131400 | NS      | $1669727.11   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                          | Advance Auto Parts Inc                                                          | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     80000 | PA      | $82000.00     | 0.00%             | 2033-08-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Monster Beverage Corp                       | Monster Beverage Corp                                                           | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |     10894 | NS      | $679894.54    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                    | Stonex Escrow Issuer LLC                                                        | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $82231.04     | 0.00%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Booking Holdings Inc                        | Booking Holdings Inc                                                            | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1602 | NS      | $8969678.10   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCE AUTO PARTS                          | Advance Auto Parts Inc                                                          | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |     70000 | PA      | $71828.95     | 0.00%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                              | Eli Lilly & Co                                                                  | CUSIP: 532457CS5<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |    930000 | PA      | $860636.02    | 0.05%             | 2054-08-14      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Seegene Inc                                 | Seegene Inc                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2268 | NS      | $42291.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BJ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    117000 | PA      | $121109.71    | 0.01%             | 2030-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK NY                            | Deutsche Bank AG/New York NY                                                    | CUSIP: 251526CV9<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |    260000 | PA      | $264835.00    | 0.02%             | 2028-02-08      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                      | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    138000 | PA      | $137709.83    | 0.01%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MTN Group Ltd                               | MTN Group Ltd                                                                   | CUSIP: 000000000<br>LEI: 2549009JD6Q6XHZS5E05 | Long             | EC               | CORP              | ZA        |     74110 | NS      | $629562.32    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CJ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     65000 | PA      | $61921.28     | 0.00%             | 2030-06-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179VHT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    990118 | PA      | $908336.87    | 0.05%             | 2050-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                         | Synchrony Financial                                                             | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |    149000 | PA      | $157014.63    | 0.01%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                 | Gap Inc/The                                                                     | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |     69000 | PA      | $64712.03     | 0.00%             | 2029-10-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Danone SA                                   | Danone SA                                                                       | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |     69256 | NS      | $5780615.41   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                       | CUSIP: 682680BF9<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    430000 | PA      | $460952.32    | 0.03%             | 2051-01-15      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| CHEVRON USA INC                             | Chevron USA Inc                                                                 | CUSIP: 166756BF2<br>LEI: VA8TZDWPEZYU430RZ444 | Long             | DBT              | CORP              | US        |   1905000 | PA      | $1936566.10   | 0.11%             | 2035-04-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                                  | Pfizer Inc                                                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    358223 | NS      | $8869601.48   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Essent Group Ltd                            | Essent Group Ltd                                                                | CUSIP: 000000000<br>LEI: 254900QUO860OUT6ZF83 | Long             | EC               | CORP              | US        |      1409 | NS      | $88400.66     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                               | BHP Group Ltd                                                                   | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     11179 | NS      | $311592.24    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 36179WTY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1775091 | PA      | $1513788.11   | 0.09%             | 2051-12-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Chroma ATE Inc                              | Chroma ATE Inc                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |    130000 | NS      | $2462515.19   | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                    | Aston Martin Capital Holdings Ltd                                               | CUSIP: 04625HAJ8<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |    338000 | PA      | $328805.25    | 0.02%             | 2029-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Home Depot Inc/The                          | Home Depot Inc/The                                                              | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     24302 | NS      | $9885324.54   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinbon Electronics Co Ltd                   | Sinbon Electronics Co Ltd                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      8000 | NS      | $60562.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1427451.16   | 0.08%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                      | AmeriGas Partners LP / AmeriGas Finance Corp                                    | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    107000 | PA      | $110422.07    | 0.01%             | 2028-06-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                       | CUSIP: 682680BE2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1439210.18   | 0.08%             | 2031-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| SANTANDER HOLDINGS USA                      | Santander Holdings USA Inc                                                      | CUSIP: 80282KBF2<br>LEI: 549300SMVCQN2P0O6I58 | Long             | DBT              | CORP              | US        |   2670000 | PA      | $2794842.82   | 0.16%             | 2029-03-09      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                     | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    181000 | PA      | $188923.82    | 0.01%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                     | Aethon United BR LP / Aethon United Finance Corp                                | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     42000 | PA      | $43807.81     | 0.00%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bizlink Holding Inc                         | Bizlink Holding Inc                                                             | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | TW        |     48504 | NS      | $1688080.77   | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                        | Tencent Holdings Ltd                                                            | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |    142900 | NS      | $11066820.23  | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140XM7G5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     29956 | PA      | $31145.14     | 0.00%             | 2053-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     28000 | PA      | $29761.00     | 0.00%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Figma Inc                                   | Figma Inc                                                                       | CUSIP: 316841105<br>LEI: 254900273Q0J4Z65HU28 | Long             | EC               | CORP              | US        |      3974 | NS      | $279292.72    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aneka Tambang Tbk                           | Aneka Tambang Tbk                                                               | CUSIP: 000000000<br>LEI: 529900LRE2NALSSHMB80 | Long             | EC               | CORP              | ID        |    485800 | NS      | $90046.42     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                 | Freddie Mac Pool                                                                | CUSIP: 3132DVME2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     34855 | PA      | $33766.67     | 0.00%             | 2052-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EZCORP INC                                  | EZCORP Inc                                                                      | CUSIP: 302301AJ5<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | DBT              | CORP              | US        |     45000 | PA      | $47447.10     | 0.00%             | 2032-04-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418DRT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8379 | PA      | $7338.88      | 0.00%             | 2050-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                     | FTAI Aviation Investors LLC                                                     | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    178000 | PA      | $189205.28    | 0.01%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| EXELON CORP                                 | Exelon Corp                                                                     | CUSIP: 30161NBB6<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |    550000 | PA      | $538777.36    | 0.03%             | 2027-03-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                         | JPMorgan Chase & Co                                                             | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    790000 | PA      | $716626.08    | 0.04%             | 2033-01-25      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                               | Citigroup Inc                                                                   | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1475133.80   | 0.09%             | 2033-03-17      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| CISCO SYSTEMS INC                           | Cisco Systems Inc                                                               | CUSIP: 17275RBY7<br>LEI: 549300LKFJ962MZ46593 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92953.95     | 0.01%             | 2032-02-24      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| MERCK & CO INC                              | Merck & Co Inc                                                                  | CUSIP: 58933YBM6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |    340000 | PA      | $307881.29    | 0.02%             | 2053-05-17      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Darden Restaurants Inc                      | Darden Restaurants Inc                                                          | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |       635 | NS      | $131406.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunway Construction Group Bhd               | Sunway Construction Group Bhd                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |    132400 | NS      | $198402.29    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                      | Cloud Software Group Inc                                                        | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    199000 | PA      | $207443.53    | 0.01%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Palantir Technologies Inc                   | Palantir Technologies Inc                                                       | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     33073 | NS      | $5182869.83   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK INC                                   | ONEOK Inc                                                                       | CUSIP: 682680BD4<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1003627.53   | 0.06%             | 2026-01-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Santos Ltd                                  | Santos Ltd                                                                      | CUSIP: 000000000<br>LEI: 5299000RK70B5O2M7077 | Long             | EC               | CORP              | AU        |     42073 | NS      | $220266.55    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Phison Electronics Corp                     | Phison Electronics Corp                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     53000 | NS      | $840061.79    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| ELI LILLY & CO                              | Eli Lilly & Co                                                                  | CUSIP: 532457DG0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |     55000 | PA      | $54538.02     | 0.00%             | 2065-10-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A              | Ginnie Mae II Pool                                                              | CUSIP: 3618N5C64<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    631061 | PA      | $636442.07    | 0.04%             | 2054-12-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                         | Cheniere Energy Inc                                                             | CUSIP: 16411RAK5<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   2890000 | PA      | $2887732.74   | 0.17%             | 2028-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp                       | Truist Financial Corp                                                           | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      7380 | NS      | $345531.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TRANSDIGM INC                               | TransDigm Inc                                                                   | CUSIP: 893647CA3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     40000 | PA      | $41290.47     | 0.00%             | 2034-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS INC                      | Darden Restaurants Inc                                                          | CUSIP: 237194AQ8<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |    305000 | PA      | $306086.03    | 0.02%             | 2029-10-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| TSMC                                        | Taiwan Semiconductor Manufacturing Co Ltd                                       | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    282000 | NS      | $10561298.12  | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                         | CDW LLC / CDW Finance Corp                                                      | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $900893.60    | 0.05%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140QTU56<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     91253 | PA      | $95402.88     | 0.01%             | 2054-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MARTIN MARIETTA MATERIAL                    | Martin Marietta Materials Inc                                                   | CUSIP: 573284BA3<br>LEI: 5299005MZ4WZECVATV08 | Long             | DBT              | CORP              | US        |    530000 | PA      | $533117.69    | 0.03%             | 2034-12-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    110000 | PA      | $113939.32    | 0.01%             | 2030-11-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Poya International Co Ltd                   | Poya International Co Ltd                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      4040 | NS      | $61653.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F022691<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    675000 | PA      | $560342.56    | 0.03%             | 2055-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                       | Republic Services Inc                                                           | CUSIP: 760759BL3<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    120000 | PA      | $123188.78    | 0.01%             | 2030-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| HDC Hyundai Development Co-Eng              | HDC Hyundai Development Co-Engineering & Construction                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3726 | NS      | $53117.64     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ACCENTURE CAPITAL INC                       | Accenture Capital Inc                                                           | CUSIP: 00440KAD5<br>LEI: 254900FRO0P7RIINYT25 | Long             | DBT              | CORP              | US        |     80000 | PA      | $78136.68     | 0.00%             | 2034-10-04      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     80000 | PA      | $81906.96     | 0.00%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Givaudan SA                                 | Givaudan SA                                                                     | CUSIP: 000000000<br>LEI: 213800SVRMQA1TD91D41 | Long             | EC               | CORP              | CH        |       897 | NS      | $3777785.52   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                       | Freedom Mortgage Corp                                                           | CUSIP: 35640YAL1<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     76000 | PA      | $84289.55     | 0.00%             | 2030-10-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 3140LQPU8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    864011 | PA      | $792936.50    | 0.05%             | 2037-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NVIDIA CORP                                 | NVIDIA Corp                                                                     | CUSIP: 67066GAJ3<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1149697.08   | 0.07%             | 2060-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| HCA INC                                     | HCA Inc                                                                         | CUSIP: 404119CP2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    590000 | PA      | $604333.09    | 0.04%             | 2028-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F040495<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    925000 | PA      | $908089.84    | 0.05%             | 2040-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WASTE CONNECTIONS INC                       | Waste Connections Inc                                                           | CUSIP: 94106BAJ0<br>LEI: 549300HDLRTPBQU69P29 | Long             | DBT              | CORP              | CA        |    945000 | PA      | $966247.78    | 0.06%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| RAISING CANE'S RESTAURAN                    | Raising Cane's Restaurants LLC                                                  | CUSIP: 75103AAA3<br>LEI: 254900V6ADXFWHYOED66 | Long             | DBT              | CORP              | US        |     80000 | PA      | $84328.96     | 0.00%             | 2029-05-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae or Freddie Mac                   | Fannie Mae or Freddie Mac                                                       | CUSIP: 01F032492<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    750000 | PA      | $726109.31    | 0.04%             | 2040-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Alkermes PLC                                | Alkermes PLC                                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |      5467 | NS      | $158378.99    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| NATIONAL FUEL GAS CO                        | National Fuel Gas Co                                                            | CUSIP: 636180BU4<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   2035000 | PA      | $2099246.19   | 0.12%             | 2035-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                           | TSMC Arizona Corp                                                               | CUSIP: 872898AE1<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |    810000 | PA      | $595042.20    | 0.03%             | 2051-10-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                            | T-Mobile USA Inc                                                                | CUSIP: 87264ADG7<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    320000 | PA      | $298807.69    | 0.02%             | 2055-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROBLOX Corp                                 | ROBLOX Corp                                                                     | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11385 | NS      | $1418457.15   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                          | Banco Santander SA                                                              | CUSIP: 000000000<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |     49789 | NS      | $475487.17    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                       | Freedom Mortgage Corp                                                           | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     55000 | PA      | $58741.65     | 0.00%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                  | Fannie Mae Pool                                                                 | CUSIP: 31418ECC2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     71294 | PA      | $63710.77     | 0.00%             | 2037-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    125000 | PA      | $127719.25    | 0.01%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC SERVICES INC                       | Republic Services Inc                                                           | CUSIP: 760759BK5<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | DBT              | CORP              | US        |    495000 | PA      | $507905.78    | 0.03%             | 2034-11-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                     | Goldman Sachs Group Inc/The                                                     | CUSIP: 38141GXR0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    366000 | PA      | $321473.48    | 0.02%             | 2032-01-27      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd                 | Sun Hung Kai Properties Ltd                                                     | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |      5500 | NS      | $64968.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CJ Logistics Corp                           | CJ Logistics Corp                                                               | CUSIP: 000000000<br>LEI: 988400MIXJ2YDYLYR916 | Long             | EC               | CORP              | KR        |      8006 | NS      | $479788.69    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                       | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     35000 | PA      | $35238.82     | 0.00%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALGOMA STEEL INC                            | Algoma Steel Inc                                                                | CUSIP: 01566MAD7<br>LEI: 5493006RXIB5GVHWJS53 | Long             | DBT              | CORP              | CA        |     62000 | PA      | $54959.71     | 0.00%             | 2029-04-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| WH Group Ltd                                | WH Group Ltd                                                                    | CUSIP: 000000000<br>LEI: 254900A4AYEDRWYSE928 | Long             | EC               | CORP              | HK        |    538500 | NS      | $578672.49    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Lenovo Group Ltd                            | Lenovo Group Ltd                                                                | CUSIP: 000000000<br>LEI: 254900VUZRGD5U73RE46 | Long             | EC               | CORP              | CN        |    262000 | NS      | $376123.54    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                       | Icahn Enterprises LP / Icahn Enterprises Finance Corp                           | CUSIP: 451102CF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    185000 | PA      | $183908.50    | 0.01%             | 2029-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** BlackRock Balanced Fund, Inc

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer